NICK WALTON REALTOR®

Serving Your Frisco Community

NICK WALTON REALTOR® Serving Your Frisco Community

Phillips Creek Ranch in Frisco TX August Update

Phillips Creek Ranch in Frisco TX August Update

Things are moving fast over at Phillips Creek Ranch in Frisco TX. It won’t be long before the first of the builder models homes are complete.

Philips Creek Ranch, Frisco TX

Philips Creek Ranch, Frisco TX

Vista Park in Philips Creek Ranch, Frisco TX

Vista Park in Philips Creek Ranch, Frisco TX

Philips Creek Ranch, Frisco TX

Philips Creek Ranch, Frisco TX

Vista Park, Philips Creek Ranch, Frisco TX

Vista Park, Philips Creek Ranch, Frisco TX

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

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

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
Search All Homes For Sale
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

Shaddock Creek Estates in Frisco TX Video Tour

Shaddock Creek Estates in Frisco TX Video Tour

Shaddock Creek Homes For Sale

Shaddock Creek Estates Frisco TX

 

Shaddock Creek Estates is located in west Frisco in TX. This prestigious community is made up of several phases including the one I am currently showing you which is the high-end luxury gated section of Shaddock Creek Estates. Home prices in this section of Shaddock Creek Estates start in the mid $400k range and go up to the Million Dollar Estate homes. Home builders such as K. Hovnanian and Shaddock Homes build two story homes starting at 3,750 square feet with custom builders in the Million Dollar Estates.

Shaddock Creek Estates in West Frisco TX is surrounded by beautifully landscaped terrain and a lush, wooded creek with trails. This luxury comminity offers many amenities, such as walking trails, swimming pool, creeks and greenbelts. The elementary and middle schools are within walking distance and the high school is adjacent to the community.

Shaddock Creek Estates is conveniently located just off the Dallas North Tollway. Attractions such as, the Stonebriar Mall, the Roughrider Baseball Stadium, Star’s Hockey Arena and Frisco’s world class soccer facility, FC Dallas are all a short distance away.

Call (469) 556-2393 for more information or appointment to view homes in Shaddock Creek Estates.

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

Cost vs Value – Choose Your Remoding Project Wisely

Cost vs Value – Choose Your Remoding Project Wisely.

Thinking about remodeling your home, then you need to read this article and I will show you where your money is best spent.

 

Top 6 Returns
Job Description Siding Replacement (upscale)
Job Cost $13,461
Resale Value $10,493
Cost Recouped 78%
Job Description Entry Door Replacement
Job Cost $1,238
Resale Value $903
Cost Recouped 73%
Job Description Attic Bedroom Addition
Job Cost $50,148
Resale Value $36,346
Cost Recouped 73%
Job Description Kitchen: Minor Remodel
Job Cost $19,588
Resale Value $14,120
Cost Recouped 72%
Job Description Garage Door Replacement
Job Cost $1,512
Resale Value $1,087
Cost Recouped 72%
Job Description Garage Door Replacement (upscale)
Job Cost $2,994
Resale Value $2,129
Cost Recouped 71%

 

Frisco Homes For Sale
Search All Homes For Sale
Plano Homes For Sale
Frisco – Grayhawk Homes For Sale
Chapel Creek in Frisco Homes for Sale
Free List of Foreclosed Homes For Sale
Avoid Foreclosure
What is your home worth?
Nick Walton
JP & Associates Realtors®
469-556-2393
ttwllc@gmail.com

April 2012 Market Update Pt. 2

April 2012 Market Update Pt. 2

Home Sales

April Home Sales

April Home Sales

In Millions
Home sales dipped 0.9% in February to 4.59 million units, yet are 8.8% higher from a year ago. A strengthening economy is improving consumer confidence with an increasing amount of people in the market. Additionally, as the market shows signs of improvement, more people are feeling the urgency to buy while prices and interest rates are still at some of the most affordable levels in history.

Home Prices

April Home Prices

April Home Prices

In Thousands
After slipping a bit at the beginning of the year, median home prices rose to $156,600, up 0.3% from a year ago. NAR President Moe Veissi said, “People realize that home ownership is an investment in their future. Given an apparent overcorrection [dropping prices as an overreaction to market conditions] in most areas, over the long term home prices have nowhere to go but up.”

Inventory

April Home Inventory

April Home Inventory

In Months
Housing inventory rose 4.3% in February to 2.43 million homes, representing a 6.4-month supply, up from 6.0 in January. There are several factors driving this increase in the inventory of homes. First, banks have settled major lawsuits regarding fraudulent foreclosure practices with state governments, which has enabled them to start moving many foreclosures off their balance sheets and into the market. Pending sales are up, and home building is starting to show signs of life again after three years of low new-housing construction.


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.

April 2012 Market Update

April 2012 Market Update

Now three months into 2012, both the housing market and the overall economy are improving at modest rates. These improvements have inspired confidence in consumers, demonstrated by a 9.2% increase in pending home sales in February from the year prior.

Both home prices and sales are expected to increase in 2012. Lawrence Yun, chief economist for NAR, stated, “Falling visible and shadow inventory [bank-held properties], combined with a dearth of new-home and apartment construction during the past three years, assure that rents will continue to rise, with likely home price increases in 2012.”

As rents continue to rise, buying becomes a more and more attractive option as home affordability, or the percent of income it takes to pay the mortgage, continues to be among the most favorable in history. Trulia’s Winter 2012 Buy vs. Rent Index, which measures the relative cost of renting compared to asking prices of homes found that in 98% major metropolitan areas sampled, it was more affordable to buy than to rent.


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.

Do You Know a Homeowner Facing Foreclosure? Here’s A Way Out.

Do You Know a Homeowner Facing Foreclosure? Here’s A Way Out.

Do You Know a Homeowner Facing Foreclosure?

Do You Know a Homeowner Facing Foreclosure?

Headlines today are filled with stories about homeowners in financial distress—people who face a lender’s foreclosure on their home.

Millions of American home owners are wondering what to do.
Like most crises, this one has produced its share of rumors and misinformation. One of the biggest ones is “just let it happen.” Why fight back, this line of thinking goes. It’s too emotionally draining, and the government’s loan modifications aren’t helping many people. Well, that’s only partly true.

While government loan modification programs have fallen short of the mark so far, there is another solid, sensible option for homeowners. It’s called a short sale—a sale to a buyer where the seller’s lender agrees to accept less than the full amount owned.

Why not be foreclosed? Why sell short? Agents who have closed hundreds of these transactions provide this list of reasons:

  • Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.
  • Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.
  • Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.
  • Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.
  • Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.

These are the top reasons, but there are more. An expert short sale specialist agent can give a full picture of the options.

One more tip. Don’t believe everything you read about how long short sales take and how few get finalized. Short sale timelines, while still longer than normal, are shrinking as lenders get their paperwork act together. Find out who the top short sale agents are in your market. These pros are closing 70 to 90 percent of the short sales they represent—more than three times the national average. They know where to find buyers, and how to negotiate the buyer’s offer effectively with lenders and get the deal closed—so the homeowner can move on with life and recover.


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.