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Loreena Yeo - Broker|Realtor(R) of www.Frisco-TX-Homes.com (214) 783-2210

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A robust real estate web application has been developed for you to ensure that your real estate home buying experience is a pleasant and exciting one. When you sign up for the Property Watch on this website, this process saves you time. As soon as new properties come on the market and it fits your search criteria, you will be alerted via email. You can change the criterias during your home search. No pressure and no obligation.


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Note: If you have a real estate agent representing you in your home search and have signed an Exclusive Buyer's Agency, please do not use this system. It would be a violation of the National Association of Realtors(R) Code of Ethics to assist you under these circumstances.

Can Dave Ramsey's Principles Work For All Of America?

Disclosure Note: I am a Dave Ramsey fan. My family's financial life has tremendously improved since being on the Total Money Makeover since August 2005. So, I'm not writing this blog to discredit Dave Ramsey but to simply bring up a point, Does Dave Ramsey principle's really work for all of America?

 If you are not familiar with the Total Money Makeover principles by Dave Ramsey, here they are:

(1) A small rainy day fund of $1,000
(2) Pay off ALL consumer debts except for mortgage
(3) Save 3-6 months of living expenses
(4) Fully fund retirement
(5) College savings for children
(6) Pay off mortgage
(7) Have a great life, play hard and give some away

Just thinking about these principles for us folks in the Texas region, it seems pretty do-able. Dave Ramsey advised to put at least a 20% down payment on the mortgage.

But those who lives in the East or West coasts, can this principle be easily applied to fairly young home buyers with not much savings?

I am not 100% sure if I am correct when I say this (but I don't think I'm too far off):

Median Sales Price in San Francisco, CA: $750,000
Median Salary Income (Work Experience 5-10yrs): $75,000
Let's assume that both husband and wife works, Total Income = $150,000

Here in North Texas,

Median Sales Price in Frisco, TX: $240,000
Median Salary Income (Work Experience 5-10yrs): $60,000
Both husband and wife works, Total Income = $120,000

The numbers are simply mind-boggling. I personally just feel that those who live in a much higher standard of living will find that Dave Ramsey's principles so much more difficult to adhere. Saving 20% for a downpayment would be $150,000. How many people would see $150,000 in their bank before placing that as a downpayment?

Another one of Dave Ramsey's principle is to place no more than 25% of your take-home pay towards your mortgage (property taxes and insurance included). I just wonder how those numbers would work for more expensive parts of America.

East coast and West coast agents:
Now, tell me, do you really see clients placing a strong downpayment on their homes?

I only wished I could say that Dave Ramsey's principles work for all of America. Unfortunately, some will find it easier than others in different parts of the country.

Am I correct?

How Is The Frisco TX Homes Market Doing? Really ???

A close friend asked me the Million Dollar question earlier this morning,

"How Is The Frisco Texas Homes Market Doing? Really?" With a spark in his eye, he added, "I know the news is talking about how bad the market is doing, but how is it, really?"

I smiled and answered,

 "Really.... if you really wanted to know, this is what I will tell you ......

There's really two kinds of homes here in Frisco TX, or the Dallas metroplex for that matter. There are those who sell within 30-60days and then, there are those who will be in it for the long haul."

How Does This Relate To You If You Are Buying a Frisco TX Home?

A great home priced correctly moves FAST. It also does not mean that you would have alot of negotiation power if it just came on the market a few days (this is merely a generalization statement. Each listing/ seller has its own reason to sell). Making a low-ball offer may not get you the house and perhaps other buyers would recognize the same potential and could offer the Seller a reasonable offer.

How Does This Relate To You If You Were Selling a Frisco TX Home?

It really depends on which category you want to be in. There are some steps you need to take in order to ensure you are on the first category (not the latter):

1. Work with an agent who knows what he/she is doing - as far as pricing and marketing the home.
2. Per an experienced agent's recommendation, follow the advice he/she gives you in order to sell the home.
3. Trust the person you hire. (If you dont, it is difficult to build a successful relationship that will get you where you want to be: move on to your next plan).

More importantly, this is a question you need to ask yourself:
Do you really want to move? Or are you just testing the market to see what it would take?

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For no fluff real estate market advice, please contact Loreena Yeo - broker/ principal of 3:16 team REALTY. Proudly serving Frisco, Plano, Dallas, Richardson, Allen, McKinney, Celina, Prosper, Little Elm real estate markets.

Ground Breaking - Wide Open Project at Hope Fellowship This Weekend

Hope Fellowship is celebrating its ground breaking ceremony at its four services this weekend:

Saturday 6:00pm
Sunday 8:30am, 10:00am and 11:30am

The Wide Open project is the building expansion project here at Hope Fellowship. Since its inception in 2001, Hope Fellowship (pastored by John McKinzie) has grown leaps and bounds. With the population ever increasing in Frisco, Texas, it is Hope Fellowship's plan to expand to commodate the believers here in Frisco.

Join us for an awesome weekend celebration this weekend. Hope to see you there!

You Know You Are In Frisco Texas

You know you are in Frisco Texas WHEN

Yesterday was 70 degree - a great Frisco Texas gardening day

then

Today, you have 3 - 5 inches of snow !!!

For those of you know (like me) hardly get to see snow, this is such an exciting. The best thing is that we have snow twice this week. Just so awesome!!!

Those who's sick of snow, please forgive us in Texas.... ( And yes, this may be your joke but we are so excited here that schools closed early).