Angela Sells DFW

Journey with me through my real estate, motherhood and Texas adventures

Archive for the tag “dfw”

Flipping Grandview: Week ???

I seem to have lost track of what week it is… maybe it’s denial that we are more than 4 weeks past the initial goal that makes me want to bury my head in the sand?!? It’s actually week 12 and we have flooring! Hooray! Forward movement is progress and I am happy to have it!

The next hurdles are getting the granite & back splash in, refinishing the shower tile, getting appliances in & completing trim out work & the punch list so far. There is still some touch up painting to do as well.

They did get the exterior painted and the workshop painted red, too, since our last update.

We are over on holding costs putting us $5,000 behind on budget currently which we are adding to our other $1,500 of overage expenses. That has us $6,500 in the red on our budget. We will likely be over budget an additional $6,000 In holding costs & odds, ends that will need to be done. We aren’t going to turn the profit that we had hoped on this one and that’s why it’s important to flip multiple at a time! As always, we are learning great lessons on this one and will do the next one differently.  It is coming together though and looking good!

 

Top 5 Home Sales in Mansfield, Burleson and Arlington, Texas

Top 5 Sold Homes in Burleson, Mansfield and Arlington, Texas

This month, our top 5 sold homes has yielded 6 homes as two were tied for 5th place!  Here they are, in random order:

415 Shenandoah Drive Burleson, Texas 76028

Listed for $364,900

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2310 Wakeforest Court Arlington, Texas 76012

Listed for $395,000

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6023 Lakehurst Court  Arlington, Texas 76016

Listed for $615,000

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1110 Lake Hudson Dr Mansfield, Texas 76063

Listed for $424,900

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1071 N Day Miar Mansfield, Texas 76063

Listed for $549,900

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1121 Blue Lake Arlington, Texas 76005

Listed at $374,900

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There you have it, folks!  The top 5 (6) sales from the past month in Burleson, Mansfield and Arlington.  Don’t forget that if you’re looking to buy or sell a house in these areas, I am your local area expert!  Find out what my clients are saying about working with me here.

Can I Buy a House with No Downpayment?

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Can I Buy a House with No Downpayment?

With all the good, national news of the real estate recovery I have been asked this question a lot in the last month.  The good news is that if you live in the Dallas/ Fort Worth area, the answer is “yes”!  However, that is not an unconditional “yes” just yet.  There are three ways to purchase a home without a down payment.

The first avenue to do this would be to obtain a VA loan.  I’m sure you’re thinking, what kind of loan is that?  With all the talk of FHA, VA, 203B, 203K, ABC (J/K), it’s hard for you the consumer to understand it all.  VA is a loan specifically for Veterans that allows them to use their veteran benefits to obtain financing for a home.

The next way to purchase a home without a down payment is by purchasing a rural home with a USDA loan.  USDA is the United States Department of Agriculture.  This loan is geared to help encourage people to purchase homes in rural areas.  The home must be in an eligible area.  You can check individual properties and view city boundaries here:

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Only some lenders can participate in this program so be sure to ask your amazing Realtor for recommendations.

The third way to purchase a home without a down payment would be to go through the Texas First Time Home Buyer program.  The state has a specific amount of funds available to make this happen for you, the home buyer.  As with all loan programs, you must qualify to meet their standards and not all lenders can lend through this program so be sure to ask for recommendations prior to having your credit pulled if you’re thinking of going this route.

You can find more information on this program here:

http://www.tdhca.state.tx.us/homeownership/fthb/down-payment-assistance.htm.

One thing to note when reading this information, is that while in some cases you may receive 5% in assistance, that typically will cover only your down payment as there are additional fees to use this program and the other 1.5% tend to go towards that.

Now, you’re probably thinking “That’s great! I can buy a home with no money!” but there is one more thing to consider: closing costs.  When you purchase a home, you need money for a down payment but in your case you’re trying to avoid that which is great.  However, lenders will still want to see that you have “rainy day” or emergency funds set aside and you will need money for closing costs.  Closing costs are the fees associated with obtaining a new mortgage, title work and transferring/ recording the deed.   These costs vary from state to state.  You can ask a seller to pay for these costs for you and in most cases they will.  Just remember that what you’re asking them to pay for you is coming out of their own pocket so you will want to be sure and keep that in mind when offering to purchase their home.

 

 

Still have questions?  Feel free to email me at AngelaSellsDFW@gmail.com.

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