Grapevine Mortgage Company | Grapevine Mortgage News
Hopefully you all had a great Thanksgiving and are looking forward to a great Christmas.
For the week beginning 11/26, my rates again have hit a low of 5.75% On a 30 year fixed loan. This is great news for those who are looking to qualify for a luxury home in the Grapevine, Texas area. (more…)
Great Neighborhoods in Flower Mound
Here is a short comparison of the luxury home sales trends in Wellington, Bridlewood, Bella Lago, The Sanctuary, and River Oaks subdivisions. A luxury home is a home that has a sales price of $500,000 or greater. From May to November 2006 five luxury homes sold in Wichita Chase with an average of eighty-seven days on the market at $128.31 per square foot. During the same period in 2007, a total of four luxury homes sold with an average of forty-five days on the market at $123.07 per square foot. The greater majority of the homes in Wichita Chase in Flower Mound have swimming pools and are built on half acre lots compared to three-quarter to one acre lots in Bridlewood, Bella Lago, The Sanctuary, and River Oaks subdivisions. It’s also important to mention that the greater majority of the homes built in Wichita Chase and The Sanctuary were built by Toll Brothers, a leader in luxury home construction.
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Realtor and Mortgage Broker Relationships
Southlake Texas real estate values keep going up and up! That is why it is important to have a trusting relationship with your realtor and mortgage broker. A mortgage company you trust is important because there is a big difference in the amount of your payment in just a small increase in your interest rate. For instance, on a $600,000 loan amount, the monthly payment is $3,597 at 6% rate. The payment goes up by a whopping $97 with the rate at 6.25%. (more…)
100% financing and 80/20′s
Well it is official. My countrywide rep just announced that they were cancelling the 80/20 loan programs as well as the 80/15/5′s. This means that instead of being able to get a second lien like in the past, borrowers will have to stick with only one loan and be responsible for PMI.
The one advantage is the PMI is now tax deductable.
We still have other lenders in our database that do allow for second mortgages above 90%.
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Mortgage Rates for 11/19/07
According to Realty Times, 11/19/2007, the currnet rates for a 30 year fixed mortgage is 6.24%. Rice Capital Mortgage is currently offering rates in the neighborhood of 5.875% with no discount points. Rates on luxury homes, priced about $500,000, are usually in the 6.5% range currently. These rates are usually only available to Joy Rice’s clients.
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Southlake Luxury Real Estate and Mortgage Company News
According to Freddie Mac’s Primary Mortgage Market Survey, rates are down again for the second straight week. 30 year fixed rate mortgages are averaging 6.24% with just under a half point in discount. (more…)
Relocating to the Dallas/Fort Worth area or a DFW suburb such as Flower Mound, Southlake, Grapevine, or Keller? The professional goal of Joy Rice Realty Group is to help our valued clients overcome the overwhelming relocation challenges you face at a time like this. For most transferees and newcomers, the greatest hurdle to overcome is choosing the right area and neighborhood to fit your individual needs and lifestyle.
As a professional agent and long time resident of Flower Mound, I recommend you start your house hunting here. Flower Mound is located in the heart of Big D with exemplary schools and fabulous master-planned neighborhoods. One of those neighborhoods is Wellington of Flower Mound. With two junior Olympic swimming pools, hike and bike trails, a tennis court, basketball court, workout facility, miniature golf course, and play parks, Wellington is a wildly-popular place to live.
Looking at 2006 and 2007 third quarter homes sales in Wellington shows a significant increase in a couple of important areas. In 2006 a total of 47 homes were sold at an average price of $100.73 per square foot compared to 53 homes sold at a rate of $102.26 per square foot in 2007. Although the number of homes sold and the price per square foot increased in 2007, so did the number of days on the market. However, even though the properties stayed on the market slightly longer in 2007, the overall list to sold price ratio remained at 98%.
These numbers are evidence that our market remains strong and robust. So, don’t fall prey to believing everything you hear on the news and read in the newspapers. Now is a great time to buy a home in the Dallas/Fort Worth area. Please call Joy Rice Realty Group today. Whether you’re moving from out of state or out of the country, we have the knowledge and experience to assist you in your next home buying experience.
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Flower Mound Real Estate and Mortgage Company News | PMI Vs. Second Mortgage
Typically when a borrower has less than a 20% down payment for a home the bank will make the borrower purchase PMI to insure against any loss in the even of default. Most borrowers have opted instead for purchasing a second mortgage to cover the difference in the cash and having to come up with 20% down. In the past interest on second mortgages were tax deductable and PMI was not. Most borrowers liked this because at least they believed their money was going towards equity and not an insurance policy for the bank.
No days PMI has gained in popularity because of its new tax deductibility, however most borrowers still opt for the usually cheaper 2nd mortgage. (more…)
Flower Mound Real Estate | Flower Mound Mortgage Company News
Today I received an interesting email pertaining to H.R. 3915. If you haven’t heard about what is going on in the mortgage world you might want take a look.
I really enjoyed the author’s view on assessing blame to the entire process and not just a few unethical mortgage brokers.
Flower Mound Mortgage Company News (click here to search on Google)
One recent evening I sat with my husband in the Flower Mound High School stadium watching my son and his teammates play football, I reverted back to a conversation I had with my sellers about the importance of home staging. As I watched the game, I realized something quite profound. The process of selling a home is much like playing the game of football. Every player on the field was striving to out-run, out-tackle, and out-score their opponents on the other side.
Minutes into the game, the quarterback for the Flower Mound Jaguars team threw the ball down the field as my son ran as hard and fast as he could to get there in time to catch it. Rushing past his opponents, stretching out his arms, and catching the ball with the tips of his fingers, he made the 46 yard touchdown. What an awesome play. The photo above was taken as he ran into the end zone for the touchdown.
The students, friends, family, and faculty watching the game that night were wild with excitement and joy! With all the training and conditioning that he and his teammates have accomplished seemed to quickly pay off in that exhilarating moment.
Well, how does the game of football relate to the game of real estate? The answer is simple. When sellers put their properties up for sale, they all have soaring hopes of selling higher and faster with few interruptions and complications than all other competing homes in the neighborhood. Every player in the transaction (buyers, sellers, Realtors, etc.) must train and prepare for weeks, months, and sometimes even years before they are ready to get out on the field. However, talented Realtors who know how to guide their clients to properly prepare their homes for sale will beat the competition every single time.
How do Realtors do it? There are many ways, but the best place to start is with home staging. A Realtor who has the skills necessary to professionally stage a seller’s property will help her sellers beat out all the other competing properties and for more money. Joy Rice and her team of specialists have been successfully staging their client’s homes for many years. Whether you home is in Flower Mound, Southlake, Grapevine, Keller, or Dallas, call or email Joy Rice Realty Group to schedule your free in-home consultation.
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Rice Realty Group • RE/MAX DFW Associates 
