Today, I wanted to talk about foreclosures and how they effect you. With the adjustable rate loans that were so popular in 2006 and into 2007 the foreclosure rate has went up. Not due to job lose in the Fort Worth or Dallas area but due to the interest rates going up on these loans causing people to be unable to pay such a high mortgage. Then from there the domino effect starts. Having 1 foreclosure in your neighborhhood really will not effect you that much unless that is the only house that has sold in the last 6 months. When getting a house appraised for sale or to buy they pull what we call a "CMA" Comparative Market Analysis". They input your square footage and number of bedrooms and compare it to other homes that are in the neighborhood that have sold in the last 6 months. They usually do not go beyond six months unless there is not enough comps in the area for the last 6 months. So if you had a foreclosure in your neighborhood it should not be a hinder after 6 months. Like I stated before if you have only 1 or 2 a respectable appraiser overlooks them when there are enough other comps to compare to. So don't think that foreclosure down the road is going to ruin your neighborhood you will survive it. Give us a call at 817-886-4319 if you have any more questions regarding foreclosures.   

You hear on the news that the real estate market is in an uproar. You also hear on the news that it is raining but where is it raining. The news talks in general an overall look at real estate. In California, Florida, Michigan or Arizona and a few other states that may be true but in Dallas or Fort Worth real estate market that is not as true as they say. Let me give you some stats that come from the experts. In January 2008 there were 12,617 new listings in the north Texas market still just over 1400 less than what was on the placed on the market 2 years ago in the Dallas or Fort Worth area when they stated the market was at a peak. The houses that are selling are selling 1% less and 10 days longer than they were two years ago in January. Only 10 days more, does that sound like Dallas Fort Worth is falling apart. In the last 24 months there were 18 months that had more houses on the market than what there is now. So if you were thinking that you have to compete against so many people you are in a better position in that point than you were 75% of the time in the last 24 months. Condos, farms and ranches have increased 16 and 17% from last year. As an investor or a home owner I like a 16% return on my money in the first year. So what I am saying is check where it's raining, just don't turn on the news and get your information there check it out for yourself. If you would like more stats or more information on your neighborhood or your area, than give us a call at 817-886-4319. Happy house hunting from your Yellow Ribbon realty team.

Hello everyone, I wanted to tell you a little about looking for a pre-owned property in Fort Worth, Tx. I don't think it matters how many houses you bought you should always get a realtor that works for you. I'm not jut saying that as a realtor I want to give you some reasons why. Realtors have access to MLS with extras. We can see what you see plus more. How long it is on the market, is this the first time on the market, possibly what they bought it for, along with alot more information that may be wise to have when coming to negotiations. Not only that reason, but realtors can look up other homes that compare in the area that have sold and that compare to the home you are looking at. Very important to have for negotiations. Another important reason is if you want to look at lets say 6 houses in the Fort Worth, Tx area you will have to call 6 different realtors, all whom work for the client who's house you are looking at. Not smart to do, thats like using the prosecutor as your defense lawyer also. To top it off if you are looking to buy a home your realtor is free to you. The seller is going to have to pay your realtor. It's already included in the price. You are not going to get a better deal, you are going to let the seller's realtor make twice as much money. That is how it works. the seller's realtor sells the house at typically 6%. 3% going to the them and 3% going to the buyers agent. It is in the contract so the seller's paying 6% do you want 6% to go to his agent or 3% percent going to someone who is on your side. Always have a realtor who knows the business and the in's and out's. We would love for you to use a realtor from Yellow Ribbon Realty, however we just want to make sure you are represented by a licensed realtor. Good Luck 

What does that mean for real estate. Some people get confused and think that when the feds lower the rates it lowers the interest rates on housing. This is not necessarily true. When they lower the rates they are talking about the rates that they loan the money to banks for small loans. So if you are taking a $10,000 personal loan from the bank than your rate will or should be lower than previously. This has been a common mistake that people and even new realtors sometimes make. The mortgage money depends on bonds. I can send more information to anyone that would like more but to get into all the details here will fill the page. Don't get me wrong the mortgage rates are better than they have been in a while and the market is a buyer's market. I just wanted to tell people that when they here that the feds lowered the rates twice in about 10 days it does not mean that the mortgage rates went down twice. It can in the long run trickle down in the effect but it is not directly talking about mortgage rates. Email me at tmaresh@yellowribbonrealty if you would like additional information.