NICK WALTON REALTOR®

Serving Your Frisco Community

NICK WALTON REALTOR® Serving Your Frisco Community

Renting vs. Buying in Frisco, TX

Renting vs. Buying in Frisco, TX

Renting vs. Buying in Frisco, TX

Renting vs. Buying in Frisco, TX

Do you know anyone who is renting in Frisco, TX right now?

I would like to start by saying that even though now is a great time to buy from a financial standpoint I understand that due to some peoples personal circumstances renting may temporarily be the right thing for them. However with that said some people wait to purchase a home until the “right time”. They may want to rent to clean up credit, get to know a city before buying there, or have a change in family dynamics. All are good reasons to rent. It is important though to balance that decision with the amount of rent you are paying. Did you know that if you are paying $2000 a month for rent that you will pay $24,000 in one year and $120,000 over 5 years?

Owning a home can be a great investment and tax write off. Today’s market makes it a great time to buy, with interest rates at historical lows and house prices down from there highs of three years ago. Home ownership is ideal for someone who plans on living in that house for at least 3 years or longer. It allows you to build equity in something that you can later sale or take out home equity loans against if you choose. Rent is just helping someone else pay off their investment. Why not be paying off your own investment?

If you have friends renting in today’s market tell them to contact me to help walk them through some basic steps. You can advise them that in today’s post sub prime loan crisis, having good credit is important. Today, many loans are based on your FICO score. While I understand that there is much more to a person than there FICO score, lenders none the less, will use this rating to assign what interest rate you will be approved at. A good loan officer can go through your finances and help recommend steps to get you ready to purchase a home in the next few months. I have several great contacts that I can recommend to you. Also, I can help show you some important things to consider when purchasing a home and work with you on what is important to you in your next move.

Feel free to call me to discuss your next move.

Contact Me today if would like information about Frisco TX or Frisco Communities!

Frisco TX Homes for Sale
Frisco TX 75034
Frisco TX 75035
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What is your home worth?
Nick Walton
JP & Associates Realtors®
469-556-2393
Nick@NickWaltonRealtor.com

Frisco TX Homes Sales 2nd Qtr. 2012

Frisco TX Homes Sales 2nd Qtr. 2012

If you are a visual person then you will love the graphs below that show how great the market in Frisco TX is right now.

It good to see that the average overpricing for the second quarter has dropped from 6.6% to 5%.

If you are looking to sell your home you should expect to receive more offers on your home in Frisco TX as currently inventory levels are below 2 months on homes priced between $250k – $300k.

The median sales price on homes in Frisco, TX was $271,460, with it taking on average less than 60 days to sell homes priced around $300k.

Frisco Homes Sales

Frisco TX Homes Sales 2nd Qtr. 2012

 

Frisco TX Home Sales for 2nd Quarter 2012

Frisco TX Homes for Sale
Frisco TX 75034
Frisco TX 75035
Search All Homes For Sale
What is your home worth?
Nick Walton
JP & Associates Realtors®
469-556-2393
Nick@NickWaltonRealtor.com

So I Told You The Market In Frisco Is Great….Just Sayin…

So I Told You The Market In Frisco Is Great….Just Sayin…

Frisco TX Real Estate Market is HOT

One question every Realtor® gets asked frequently is “how’s the market”. I love to hear this question especially in today’s hot Frisco TX marketplace. Right now (June 2012) we have 3.2 months of inventory which puts us firmly in a Sellers Market.

Definition of a Sellers Market is:

A market which has more buyers than sellers. High prices result from this excess of demand over supply.

Another way to look at the market is through the amount of Inventory.

Buyer’s Market – more than 7 months of inventory.

Seller’s Market – less than 5 months of inventory.

Balanced Market – from 5 to 7 months of inventory.

As I mentioned above we currently have 3.2 months of inventory in Frisco. If you are currently looking for a home you will notice that in Frisco there is a shortage of supply especially in the $175k – $275k range. So if you do find a home you like, put in an offer now, because if you don’t somebody else will.

If you are thinking about listing your Frisco TX home then now is a great time to do so don’t delay. This is the busiest time of the year with the schools out for the summer, the warm weather and more daylight all adding up to more buyers out there looking to buy.

Currently this year I personally have sold all my listings within 30 days with more than one home going under contract in less than 7 days and receiving multiple offers.

Below are the number provided by NTREIS. Real Estate Center at Texas A&M

May 2012 YTD – Single Family Residences

City # of Sales % Change vs Prior Yr. Average Sales Price % Change vs Prior Yr. Average Days on Market % Change vs. Prior Yr.
Frisco 1234 17% $304,799 10% 68 -18%

May 2012 Monthly Sales Closed – Single Family Residences

City # of Sales % Change vs Prior Yr. Average Sales Price % Change vs Prior Yr. Average Days on Market % Change vs. Prior Yr.
Frisco 370 54% $315,785 7% 55 -22%

 

Frisco TX Homes for Sale
Frisco TX 75034
Frisco TX 75035
Search All Homes For Sale
What is your home worth?
Nick Walton
JP & Associates Realtors®
469-556-2393
ttwllc@gmail.com

Closing Costs – Who Pays What

 Closing Costs – Who Pays WhatBelow is a chart that shows who customorily pays each cost. As with many things in real estate, who pays for what is negotiable and any agent worth his comission will negotiate with the other agent to get you the best possible deal.

Closing Costs - Who Usually Pays For What.

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Nick Walton
JP & Associates Realtors®
469-556-2393
ttwllc@gmail.com

4050 Frankford #908, Dallas TX 75287

Condo. / Townhouse – Dallas, TX 75287
Condo, Traditional – Dallas, TX N. Dallas Townhome with PLANO ISD. 2 bedroom 2.5 bath with huge closets & plenty of storage. Oversized rear entry 2 car garage. Formal living & dining w. Wood floors. Kitchen has breakfast bar. 2 bedrooms upstairs with full baths. Conveniently located within mins. of both Dallas North Tollway & President George Bush
View the Virtual Tour for 4050 Frankford Road #908, Dallas, TX
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Far North Dallas 75287
Far North Dallas 75252
Nick Walton
JP & Associates Realtors®
469-556-2393
Questions?
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MLS#: 11765209
Licensed In:
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License #:
0615028
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This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.comProviding Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com

Cell / Text 469-556-2393

www.NickWaltonRealtor.com

 

Search For Homes In Frisco Here.

Looking To Sell Your Home? Find out how I sell homes in in less than 30 days.

Stay informed on what’s going on in the Frisco real estate market.

Thinking about buying? Let me show you how to become and informed buyer.

 

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I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.

March 2012 Market Update Pt. 2

March 2012 Market Update Pt. 2

Home Sales

Home Sales March 2012

Home Sales March 2012

Home sales were up 4.3% in January from December 2011 to 4.57 million (seasonally adjusted), and this is up from 0.7% from the year before. The steady increase in home sales over the last few months is positive encouragement for a continued housing recovery. Lawrence Yun said, “The uptrend in home sales is in line with all of the underlying fundamentals– pent-up household formation [lack of new home construction], record-low mortgage interest rates, bargain home prices, sustained job creation, and rising rents.”

Home Prices

Home Prices March 2012

Home Prices March 2012

Adding to home affordability in January, the median home price was down 2% from a year ago, to $154,700. While prices are still declining, foreclosed and other distressed properties, which have been putting downward pressure on home prices, are being moved more efficiently off the market, and default rates on home mortgage payments for the past three years are among the lowest in history.

Inventory

Inventory March 2012

Inventory March 2012

As sales increase with a growing demand for homes, the inventory of properties for sale fell 0.4% to 2.31 million, or a 6.1-month supply at the current sales level. This is down from a 6.4-month supply in December 2011. Historically, a 6-month supply has meant that the housing sector is balanced–favoring neither buyers’ nor sellers’.

 


This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.com

Providing Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com
Cell / Text 469-556-2393

www.NickWaltonRealtor.com

Join the Your Frisco Realtor® & Nick Walton Realtors Group Facebook Fan pages

I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.

March 2012 Market Update

March 2012 Market Update

Opportunities in the housing market continue to grow for buyers and sellers. Home affordability, driven mostly by record low interest rates, is among the lowest it has ever been. According to the National Association of Realtors, and based on national averages, the payments on a home today represent 12.8% of the median household income. This is both a good sign for those looking to purchase a home, and for the economy overall as consumers are keeping more money in their pockets.

If you’re seller, the housing market shows signs of transitioning from a buyers’ market more of a balanced one. This means that home owners should start to see prices stabilize and begin to grow, presenting more favorable opportunities for those looking to sell their homes. In regards to the number of homes on the market, a key indicator of the health of the housing market, Lawrence Yun, NAR chief economist, said, “The broad inventory condition can be described as moving into a rough balance, not favoring buyers or sellers.”

With continuing job creation, the improving housing sector, and signs that the banks are beginning to lend more, 2012 looks to offer promising opportunities to both those looking to buy or sell a home


This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.com

Providing Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com
Cell / Text 469-556-2393

www.NickWaltonRealtor.com

Join the Your Frisco Realtor® & Nick Walton Realtors Group Facebook Fan pages

I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.

Basic Tips For Buyers

Basic Tips For Buyers

 

1. Know what you can afford before you fall in love with your dream home.

2. Consider additional expenses that come with owning a home like property tax, insurance, and repairs.

3. Be flexible on the little things. It would be wonderful to find a home with everything you want, but those are hard to come by – distinguish nice-to-haves and must-haves early.

4. Have imagination and look beyond paint colors, wallpaper, or other easy and affordable things you can change.

5. Don’t compromise on the big things, such as enough bedrooms to accommodate additions to the family or space for an office if you work from home.

6. Always inspect even if the surface looks great; it’s important to know if anything major is wrong and what it will cost to fix.

7. Think about the future in regard to the neighborhoods, surroundings, schools, and developments.


This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.com

Providing Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com
Cell / Text 469-556-2393

www.NickWaltonRealtor.com

Join the Your Frisco Realtor® & Nick Walton Realtors Group Facebook Fan pages

I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.

Buying a Foreclosure

Buying a Foreclosure

Buying A Foreclosure

Buying A Foreclosure

Foreclosed and foreclosing properties dominate many of today’s U.S. real estate markets—more than four years after the sharpest observers saw the market shift coming, and more than two years after the reality hit home for millions of American home owners.

The recent Keller Williams Distressed Property Buying Survey unearthed great information about where the opportunities are, how big they are, and how smart, capable buyers are leveraging the current market.

First-time home buyers make up almost half of all buyers of bank-owned foreclosures and soon-to-be foreclosed short sale properties. They’re followed closely by investors seeking rental properties, and a third important group—homeowners who find they can move up to a bigger or better home they previously could not afford.

To help more consumers win as buyers, Keller Williams agents are now offering a workshop, “Winning with Foreclosures,” that shows buyers how to prepare to be successful buying the “distressed” properties—homes that offer, according to the survey, a 10 percent to 40 percent price advantage, depending on the local market.

The truth is: these markets demand most of the same things an ordinary market demands of buyers—only more intensely and pointedly:

  • Money: Buyers must be financially qualified and ready to buy. The best properties go quickly. Buyers must look strong to lenders.
  • Motivation: Buyers must be motivated to compete successfully. Keller Williams agents urge their buyers in this market to be clear about both their “motivating why” and their criteria for the property itself (size, location, condition, floor plan, etc.)
  • Location: Contrary to the rumors, prime buying opportunities exist in almost every neighborhood and price range.
  • Condition: Buyers should understand that repair costs are not necessarily large. The Keller Williams Distressed Property Buying Survey shows the average cost to repair to be $5,000—that’s less than 3 percent of the median purchase price in the U.S. today.
  • Expert Help: Finally, smart buyers know they need to be even smarter—they become a team with a local expert agent who knows local property, pricing, lenders, and the best listing agents. A strong listing agent can be a critical advantage in seeing a distressed property through from contract to close.

So, bottom line is, if you think you want to buy, have a talk with yourself first, check your financial readiness, and get with an expert and learn everything you need to know, in order to get what you want in this market.


This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.com

Providing Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com
Cell / Text 469-556-2393

www.NickWaltonRealtor.com

Join the Your Frisco Realtor® & Nick Walton Realtors Group Facebook Fan pages

I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.

First Time Home Buyers Deciding to Buy

First Time Home Buyers Deciding to Buy

If you are a first-time home buyer and decide you are ready to buy, it is important for you to begin the process by carefully assessing your values, wants, and needs—both for the short and long term. This is a critical step since consultation sessions normally start with a buyers’ values. Afterward, we can explore your wants and needs and, once defined, determine actual criteria.

A recent study shows how important the following home-buying factors were to buyers:

  • List Price: 72%
  • Location: 69%
  • Neighborhood: 55%
  • Floor Plan: 37%
  • Square Footage: 28%
  • Schools: 22%

By having the home-buying criteria on your mind before walking into a consultation, you are off to a better start when meeting with your real estate agent. The consultation allows you to fill in any missing gaps within your values, wants, and needs.


This blog post is provided to you by Your Frisco Realtor® of NickWaltonRealtor.com

Providing Real Estate services for the cites of Frisco, Plano, McKinney, Allen, Little Elm, Prospre, Celina & North Dallas.

Nick Walton, Realtor®

JP & Associates Realtors®

Nick@NickWaltonRealtor.com
Cell / Text 469-556-2393

www.NickWaltonRealtor.com

Join the Your Frisco Realtor® & Nick Walton Realtors Group Facebook Fan pages

I’m glad that you have found my blog and taken the time to read it. If you find the information useful or informative please “Subscribe” to my blog.

I enjoy building new business relationships across the country and would love to find a way to work together on a transaction or a referral.