Derrick Houston's Blog Posts

Getting PreApproved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where

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House Care Calendar A Seasonal Guide To Maintaining Your Home

From summer vacations to winter holidays, it seems each season offers the perfect excuse to put off our to-do list. But be careful, homeowners: neglecting your home’s maintenance could put your

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What Is Private Mortgage Insurance

When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to

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US Housing Market Still In Buy Territory

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across

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House Prices Simply A Matter Of Supply Demand

Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of

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Boomerang Buyers Most Qualify For Financing In 23 Years

According to a new study from Lending Tree, Americans who have filed for bankruptcy may be able to rebuild enough credit to qualify for a home loan in as little as 2-3 years.This is

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What Should You Look For In Your Real Estate Team

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or

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NOT Owning Your Home Can Cost You A Lot Of Money

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as

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99 Of Experts Agree Home Prices Will Increase

Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of 

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Be Thankful You Dont Have To Pay Your Parents Interest Rate

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased

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Buyer Demand Still Outpacing The Supply Of Homes For Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate

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5 Reasons Why To Sell This Spring

Here are five reasons listing your home for sale this spring makes sense.1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR) shows

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Freddie Mac Rising Mortgage Rates DO NOT Lead To Falling Home Prices

Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the

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Is A Major Home Renovation Worth It In The Long Run

Last week, we shared “7 Factors To Consider When Choosing A Home To Retire In.” For some homeowners, these seven factors can be taken into account with a home renovation, but is it

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Are You Aware Of How Much Equity You Have In Your Home

CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged

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Dreaming Of A Luxury Home Now Is The Time

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its 

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Moving Up Is MORE Affordable Now Than Almost Any Other Time In 40 Years

If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed.Last week,

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7 Factors To Consider When Choosing A Home To Retire In

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available

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The Home Buyers Guide To Getting Mortgage Ready

Don’t wait until you’re ready to move to start preparing financially to buy a home.If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage.

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You Can Save For A Down Payment Faster Than You Think

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how

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4 Reasons Spring Is A Great Time To Buy A Home

Here are four great reasons to consider buying a home today instead of waiting.Prices Will Continue to RiseCoreLogic’s latest Home Price Index reports that home prices have

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Latest NAR Data Shows Now Is A Great Time To Sell

We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of

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Home Design Trends To Watch In 2018

We frequently get questions from clients who are taking on decorating and remodeling projects and want to ensure their dollars are invested wisely.Which looks will last for years to come, and which

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The Number One Reason To Sell Now Before Spring

The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of

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Homeownership The Reports Of My Death Have Been Greatly Exaggerated

The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in

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Where Are Mortgage Interest Rates Headed In 2018

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are

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Millionaire To Millennials Dont Rent A Home Buy

In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that,;

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Whether You Rent Or Buy Either Way You Are Paying A Mortgage

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your

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Just Listed In Bishop Arts District Dallas TX

Listings to Leads - eFlyersBishop Arts District New build Single Family AttachedJUST LISTED--> View the Property Details, Photos, Map & School information here! 600 Melba St Dallas, TX 75208

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Bidding Wars Abound How Long Will They Continue

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.In many areas of the country, the

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Study Shows Millennials Deserve More Credit

When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials

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2 Major Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much

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US Housing Inventory Crunch Continues List Your House Today

Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.Mortgage rates hovered around 4% for all of

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If You Are Considering Selling ACT NOW

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!How

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Gap Between Homeowners And Appraisers Narrows To Lowest Mark In 2 Years

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more

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Why You Need A Professional On Your Team When Buying A Home

Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In’

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What Impact Will The New Tax Code Have On Home Values

Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.Below is

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61 Percent Of First Time Buyers Put Down Less Than 6 Percent

According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016

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Wondering If You Can Buy Your First Home

There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married

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Thinking Of Selling Now Is The Perfect Time

It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is

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FICO Scores On Approved Home Loans Drop Again

According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all

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The Impact Of Tight Inventory On The Housing Market

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures

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712000 Homes In The US Regained Equity In The Past 12 Months

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of

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79 Open Houses This Weekend In Frisco

#Frisco 79 Open Houses for this Weekend. There are 79 open houses this weekend in #Frisco. 32 homes are newly built. Thinking new? View them yet know you should be presented by a Realtor

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Real Estate 2018 What To Expect

As we head into a new year, the most common question we receive is, “What’s the outlook for real estate in 2018?”It’s not just potential buyers and sellers who are curious; homeowners also

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Time On The Market Drops To New Low In 2017

According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent on the market hit an all-time low of only three

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How Rising Prices Will Help You Build Family Wealth In 2018

Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home

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Theres More To A Bubble Than Rising Home Prices

What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A

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Top 4 REAL Reasons We Buy A Home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.No matter what shape or size your

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Top 5 Reasons You Should Not FSBO

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner )

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Top 5 Benefits Of Hiring A Real Estate Agent

The National Association of Realtors (NAR) recently released their 2017 Profile of Home Buyers and Sellers in which they surveyed recent home buyers and sellers about their

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Rents Are On The Rise Dont Get Caught In The Rental Trap

There are many benefits to homeownership. One of the top benefits is protecting yourself from rising rents, by locking in your housing cost for the life of your mortgage.Don’t Become Trapped 

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4 Reasons To Buy A Home This Winter

Here are four great reasons to consider buying a home today instead of waiting.1. Prices Will Continue to RiseCoreLogic’s latest Home Price Index reports that home prices have

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Should Boomers Buy Or Rent After Selling

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home. “Between 2009 and 2015,

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What Is The Cost Of Waiting Until Next Year To Buy

We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has

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Before You Make An Offer Here Are 4 Tips For Success

So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a competitive market, you want to make sure that you make a good

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Why Getting PreApproved Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where

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The Number One Reason To List Your House Today

Many people believe that selling their house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the

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Home Prices Up 7 From Last Year

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7

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Why Is There So Much Paperwork Required To Get A Mortgage

Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires

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5 Reasons To Sell This Winter

Here are five reasons listing your home for sale this winter makes sense.1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR) shows

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Low Interest Rates Have A High Impact On Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in

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The Cost Of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as

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Your House Must Be Sold TWICE

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over

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10 Tips To Turn Your Neighborhood Into A Hometown Haven

"Communities work better (students perform better, crime rates are lower, kids are safer, people live longer) when neighbors know one another better. Knowing your neighbor on a first-name basis...is

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Your Friends Are Crazy Wrong If They Are Telling You Not To Buy

The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a

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You Are Not Alone And There Is Hope

Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.According

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Mortgage Interest Rates Are Going Up Should I Wait To Buy

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers

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7 Reasons To List Your Home This Holiday Season

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide

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A Housing Bubble Industry Experts Say NO

With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we

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5 Reasons Homeownership Makes Cents

The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal

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Multigenerational Households May Be The Answer To Price Increases

Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by 

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Low Inventory Causes Home Prices To Maintain Fast Growth

The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price Report last week. The report revealed that severely lacking inventory across the

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Why Sell Now Instead Of Later Because The Buyers Are Out Now

Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released

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Know Your Credit Score If Youre Thinking About Buying

Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.Make sure all

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81 Homes Closed Escrow SOLD Last Week In Frisco

81 homes closed escrow (SOLD) last week in #Frisco. 38 of those sold in under 30-days on the market! A home on Sparks Dr sold for 6.7% over asking price! Keep up-to-date on homes that sell

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Dont Let Fear Stop You From Applying For A Mortgage

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage

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56 New Listings In Frisco This Week

56 new listings in #Frisco this week!A townhome on Chaucer Dr has 3 bedrooms, 2.1 baths, over 2,000 sq ft and is ready to move in! Buyers and Homeowners! Stay on top of the market and get new

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Renting Or Buying Either Way You Are Paying Someones Mortgage

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents

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How To Save On A Mortgage Payment Whether Buying Or Selling

In Trulia’s recent report, Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy.

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The Number One Reason To List Your House NOW

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5%

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Millennials Flock Towards Low Down Payment Programs

A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.The trend continued among all buyers

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5 Reasons To Hire A Real Estate Professional When Buying Or Selling

Whether you are buying or selling a home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate.

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33 Lease Properties New To The Market This Week In Frisco

33 Lease Properties new to the market this week in #Frisco.6724 Douglas Ave is a 5 Bed | 5.2 bath | Over 6,400 Sq ft custom home with an elevator, ground floor theater,  dual private studies

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Hiring An Agent To Sell Your House May Cost You NOTHING

There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide: Greater exposure to more buyers The skills of a

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131 Price Reductions This Week In Frisco

131 Price Reductions this week in #Frisco!A house on Stockton Ln had the biggest reduction, 14.9%, down to $410,000. If you want to know of price reductions to beat the competition before the

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Now Is The Time To Move Up To A Luxury Home

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study 

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Buying Remains Cheaper Than Renting In 39 States

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest

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Thinking Of Selling You Should Do It TODAY

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST

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Net Worth Of Homeowners 44X Greater Than Renters

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey

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Builder Offering To Pay Off Student Loans For Buyers

Millennials are on track to become the most educated generation in history. This means they are also the generation with the most student debt. Depending on the type of degree earned, as well as the

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Millionaire To Millennials Buy A Home Now

In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is

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No You Do Not Need 20 Percent Down To Buy NOW

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a

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The Truth About Homeowner Equity

A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is

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A Tale Of Two Markets A 6 Month Update

Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.In the starter and

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You Do Not Want To Hear This From Your Listing Agent

You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to: Set the market value on possibly the

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Which Homes Have Increased In Value The Most

Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the

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