Wondering how the housing market is doing?
The "average" sales price of a home in Frisco as of September 2011 was $304,811 compared to $283,462 in September 2010.
The average days on the market as of September 2011 was 85, which is a two day increase compared to the same time last year.
As of September 2011, the inventory of homes was 940 compared to 1,421 the same time last year, wow, homes are selling!
Finally, as of September 2011, there was 3.9 months of inventory compared to 6.0 months the same time last year!
So as you can see, the housing market in the Frisco area is doing very well, so if it is that time to buy or sell, please call me TODAY at 214-872-0400 so we can discuss your real estate needs!
Thinking about becoming a HOMEOWNER? Think you can’t afford to a home? Worried about whether home-buying is a good INVESTMENT? Buying a home can be an intimidating process, but the first step is to ask yourself these questions: Do I want to own a home? Can I afford to own a home? Does owning a home make sense for me financially?
If you are still struggling with these questions, here are some facts that might help you take that first step towards becoming a homeowner.
Over the last ten years, the cost of rental housing in the U.S. has increased an average of 3.5% per year. If that trend continues, that means that an apartment or home renting for $1,000 per month will cost more than $1,300 a month in ten years. If you rent the same home for ten years, the total amount you would pay for rent will equal $140,777!None of that $140,777 is returned to you, either through savings or as an investment.
Homeownership, on the other hand, has tax advantages over renting a home, and those advantages can help you save money. For many homeowners, part of the monthly mortgage payment “comes back to you” in tax savings.
I ask that you please give me a call TODAY at 214-872-0400 or send me an e-mail and give me the opportunity to discuss how I can help you buy your home.
I sincerely thank you for your valuable time!
Michael L. Brownstead, GRI
Realtor®
Ebby Halliday Realtors® 8920 Coit Rd., Ste. 100Plano, TX75025
E-mail: michaelbrownstead@ebby.com
Phone: 214-872-0400
www.BrownsteadRealEstateGroupDFW.com
Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.
The most prevalent question and one that continues to permeate the industry is:
“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?”
While we cannot speak to every client circumstance, we can say one thing with complete conviction. In almost all instances in which a potential seller is contemplating whether they should short sell their house or let it go through the foreclosure process, a short sale is the better option. The following are examples to consider:
Example A- Short Sale
Mr. Smith owns a home in which he has a mortgage balance of $220,000 and a current market value of $150,000. Mr. Smith has elected to short sell his property. His Realtor successfully obtains a buyer who puts forth an offer price of $120,000 (80% current market value according to Realty Trac Foreclosure Report 5/26/2011). After reviewing the buyers offer and the financial hardship information from Mr. Smith, Mr Smith’s bank agrees to accept the short payoff of $120,000 which would leave a deficiency balance of $100,000.
The transaction closes and is final. Mr. Smith then pulls his credit report 30 days after the transaction takes place. On the report he notices that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0. Mr. Smith is now on the road to financial recovery.
Example B- Foreclosure
For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Smith has elected to forgo the short sale process and let the bank foreclose on the property. The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly. Mr. Smith is notified and his property foreclosed upon of which is taken back by the bank to sell as an REO.
Six months later, the bank finally sells Mr. Smith’s home only they sell it for $90,000 (60% of current market value according to Realty Trac Foreclosure report dated 5/26/2011). Remember, as a short sale, the home would have sold for $120,000 keeping the deficiency to $100,000. In addition to the deficiency now being $130,000, the bank has elected to add on legal costs of $15,000 and asset preservation costs of another $5000 for a total deficiency liability of $150,000. Mr. Smith pulls his credit report 30 days after being notified that the bank has sold his property and of his liability.
On the report he notices that the mortgage trade line states “Foreclosure” and the balance is $150,000. Because of Mr Smith’s choice to choose foreclosure vs. short sale his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report but now has a much larger deficiency balance in which the bank, in most cases, will report on his credit report as a balance owed.
The Best Option is Clear
While the financial and credit advantages are clear when choosing a short sale over a foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s order or some other type of legal action. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery and start providing for their families. In the battle of the two evils, a short sale always wins!!!
Courtesy: via KCM Crew
Allen Demographics
Population Projections
Facts and Figures Guide
Census 2000 - Allen Demographic Profile
Driver's Licenses
Driver's licenses are obtained at the following locations:
McKinney
400 Powerhouse Street
214.733.5350
Plano
2109 W. Parker Rd., Suite 224
972.867.4221
Local Tax Information
Property Taxes
Central Appraisal District of Collin County
Post Offices:
304 W. Boyd Drive
800.ASK.USPS (800.275.8777); 972.390.7993
TTY Service - 877.889.2457 for hearing impaired
Business Hours:
Mon - Fri 8:30 a.m. to 6 p.m.
Sat 9 a.m. to Noon
Sun closed
Vehicle Registration
New Allen residents can register vehicles at either of the following Collin County registration offices:
Collin County Tax Assessor and Collector, Plano Office
920 E. Park, Suite 100
Plano, TX
972.881.3014
Collin County Administration Building
2300 Bloomdale Rd., Suite 2302
McKinney, TX
972.547.5014
Ruff Range Dog Park Grand Opening Celebration!
All dogs and their owners are invited by the City of Frisco, TX to the Grand Opening Celebration of the new "Ruff Range" Dog Park on Sunday, October 2, 2011 at 2 p.m. There will be giveaways, "doggie bags," vendor booths and much more fun!
Parking for this event will be in the main parking lot of B.F. Phillips Community Park and shuttle buses will be available to transport dogs and their owners to the dog park. Shuttle buses will run from 1:30 p.m. - 5:30 p.m.
For more information on this event, please call 972-292-6500.
The dog park is open from Sunrise to Sunset and will be closed Thursdays for maintenance.
Ruff Range Dog Park
Address: 3335 4th Army Memorial Drive, Frisco, TX
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I operate as a real estate agent with Ebby Halliday Realtors®. I operate throughout the North Dallas area, with special emphasis in the Frisco, Plano, McKinney, Allen, Prosper, and Carrollton areas.
My name is Michael L. Brownstead and I am a professional real estate agent with Ebby Halliday Realtors®. I operate throughout the North Dallas area, with special emphasis in the Frisco, Plano, McKinney, Allen, Prosper, Carrollton and Richardson areas.
I retired from the U.S. Army after proudly serving our great nation for 24 years! I served in every leadership position from squad leader to first sergeant and I really enjoyed taking care of Soldiers and families.
Upon retirement from the U.S. Army, I decided that I wanted to continue serving people while putting my degree in management and entrepreneurial studies to work; all of this coupled with self-discipline, the willingness to work hard, and a strong desire to be the best at what I do has led me to a career in real estate.
As a former Soldier, I know what it means to move frequently to unknown places. I have first-hand experience in knowing that buying and selling a home can be very stressful and it was for me. With this being said, I am a professional realtor who WILL listen to your needs, I WILL be available when you need to talk to me, and I WILL be the professional realtor who helps relieve the stresses encountered when buying or selling a home; the burden should rest on my shoulders and not yours!
Let’s face it, you have a lot to worry about when moving and some of those issues include, but are not limited to finding a great school for your children, picking a safe city with safe neighborhoods, forwarding mail, selecting a moving company, planning your route and nightly stops along the way to your new home and the list goes on and on! You don’t have time to find the right home that fulfills your family’s needs, while possibly trying to sell your current home, this is where I come in!
I ask that you please give me a call or send me an e-mail and give me the opportunity to help you plan your move, give you a free market analysis and help you buy or sell your next property. Remember, I took care of Soldiers and families for 24 years, now it’s time for me to take care of you and your family when it comes to your relocation and real estate needs!
Your Move Matters!
Because I am committed to preparing you to be an educated buyer, I will:
Give you the most vital information on available homes
Keep you aware of changes in the real estate market
Provide information on schools and key points of interest
Provide neighborhood information on municipal services, schools, churches, etc.
Check applicable zoning and building restrictions as needed
Disclose all known facts about properties I show you
Collect pertinent data on values and estimated taxes
Point out strengths and weaknesses of all properties you choose to view
Explain forms, contracts, escrow and settlement procedures
Discuss loan qualification and processing
Because I am committed to helping you save time, I will:
Provide ready access to all MLS listed properties that meet your search criteria
Assist you as needed on all unlisted properties
Help you select for viewing only those homes that fit your needs
Show you homes only in the price range most suited to your finances
Provide you a list of qualified service providers
Be onsite for property inspections (time permitting)
Because I am committed to helping you find the best value, I will:
Prepare studies of property values in chosen areas
Perform a market analysis on chosen properties
Discuss financing alternatives
See that you get a complete estimate of all costs involved
Advise on offers on properties
Write and present your purchase agreement to the seller
Negotiate on your behalf
Because I am committed to you - my buyer - I will do all of this - plus:
Keep your personal information confidential at all times
Stay in touch with you before, during and after the transaction…I am your Realtor® for life!
Coordinate all aspects of the sale and closing
Your Move Matters!
![](http://farm7.static.flickr.com/6149/6001604690_fb88ab5644_z.jpg"%20width="640"%20height="46)
"Michael is a very professional, detail oriented agent and seeks to provide excellent service to his
client. Michael will work hard to ensure a smooth transaction for his client."
— Cara Hinson, Escrow Officer, Chicago Title Insurance Company, was a consultant or contractor to Michael L. at Entrepreneur
"Are you in the Dallas/Ft Worth area? Do you need a Realtor? Give Mike a call, no one works
harder for their client. I was fortunate to meet Mike at a training class a few months ago and felt a
connection with him on a personal and professional level. I've seen, first-hand, how Mike works with
his clients and I highly recommend him if you need a Realtor. He will exceed your expectations."
— Stacy Burdette, Owner, Tex-Spections Property Inspection Services, worked with Michael L. at Entrepreneur
"Michael is a fun energetic and enthusiastic person to work with and is always eager to learn new
things. I know based on his personality that he puts the client first and he always makes sure that
they are comfortable and well informed through out the entire process. I look forward to closing
many real estate transactions with Michael in the future because he makes the process fun!"
—Amit "AV" Vaghela, Branch Manager, Supreme Lending, was with another company when working with Michael L. at Entrepreneur
"Mike has key transition information that is helpful to those military professionals making the
transition back to civilian life."
— James Duncan
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