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Kellee Heldoorn

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Saving money shopping, while supporting a great cause!

by Kellee Heldoorn

Purchase a Partners Card, in Southlake Town Square, for $70 and get 20% off several stores in Southlake, Grapevine and Colleyville, from October 24 – November 2, 2014. Perfect time for holiday shopping and supporting a great cause. Visit 
WWW.FAMILYPLACE.ORG for details.

Hallowine Trail 2014

by Kellee Heldoorn

If you enjoy dressing up and trick-or-treating as an "Adult", you don't want to miss the Hallo-wine Trail in Grapevine Texas, this Saturday October 25, 2014. You walk down Main Street, in costume, and wine taste at several establishments. Get your tickets now!! http://www.grapevinewinerytrail.com/

July 2012 Market Trend in Tarrant County

by Kellee Heldoorn

July statistics are out and they are continuing to show improvement over last year!!

 

June 2012 Market Trend in Tarrant County

by Kellee Heldoorn

June was a great month in DFW real estate – the best one since the financial crisis took its toll in September 2007.  June 2012 was up 20% in dollar volume over June 2011, with an 11% improvement in volume and an 8% improvement in average price.

First Signs of the Housing Crisis to end in 2012

by Kellee Heldoorn

A little sign of relief was announced last Tuesday. The banks are actually starting to loosen the credit scores to obtain a mortgage loan. Also, banks are starting to lend 3.5 of the borrowers earnings. This is up from a 3 year low of lending 3.2 the borrowers earnings.

Banks are also loosing (LTV) Loan-To-Value ratios, which Capital Economics experts state "the clearest sign yet of mortgage credit conditions". These may be small changes, but at this point anything helps and this is the first sign of positive upswing.

Hallo-Wine Trail, Grapevine Texas

by Kellee Heldoorn

Halloween is a great time to hang out with your friends and family, go to parties, watch scary movies, and dress up, ..... regardless of your age. Who said trick or treating was only for kids? Grapevine is having a Hallo-Wine Trail for the adults. You dress up, trick or treat to 8 wineries, sample 3 wines and food at each location, participate in a murder mystery and leave with party favors (wine and glasses). It is $45 a person on October 29th from 11am-5pm, but the best part is that they appreciate you bringing designated drivers and as a thank you, the DD'S can still enjoy having a good time participating, and the food and soft drinks are FREE. I'm excited that I actually need a costume this year. If you are interested you can go to www.GrapevineTexasUSA.com

Happy Hallo-Wine!!!

Mortgage Assistance to the Unemployed

by Kellee Heldoorn

Great News!! HUD, also know as the Housing and Urban Development, just announced that they are launching the long awaited program to provide interest-free loans to help the unemployed borrowers in 27 states. Texas is included. 

Eligible homeowners may qualify for up to $50,000 in interest-free loans and the money can assist borrowers for up to 2 years.

FEDS ANNOUNCEMENT

by Sean Severide

The biggest economic event next week will be Wednesday's Fed meeting. For the first time, the Fed Chief will hold a press conference after the meeting to discuss the Fed's announcement. No change in rates is expected, but investors will be looking for hints about when the Fed will begin to tighten monetary policy. The most significant economic report next week will be GDP on Thursday. GDP is the broadest measure of economic growth. Before that, New Home Sales will be released on Monday. Durable Orders, another important indicator of economic growth, will come out on Wednesday. Pending Home Sales, a leading indicator, will be released on Thursday. Chicago PMI, Personal Income and Core PCE inflation will come out on Friday. Consumer Confidence and Consumer Sentiment will round out the busy schedule. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.

6 Things You Should Know Before Buying a Short Sale Home

by Kellee Heldoorn

So many consumers are very confused with purchasing a Short Sale property, that it can be very frustrating for buyers and most agents do not want to bother showing the home. 

 

When you find a short sale property that peaks your interest, unfortunately the home and price is probably too good to be true. Before you get too excited call your real estate agent (Heldoorn Team 817-491-3030) to research the property and enlighten you with more details of the situation of the seller.

 

In most real estate markets, fewer than 1 in 10 short sales actually close escrow. Just because the home is listed does NOT mean it is really for sale (because it is subject to the banks approval), nor does it mean that it will sale for advertised price. Here are 6 things a buyers should know ...

 

1. Research Comparable Sales Prior to Viewing the Home

 

Short Sales are priced below comparable sales and most are ridiculously low. So low that the sellers, bank will never accept them. These homes will receive multiple offers and buyers need to be prepared to make offers at the market price...NOT THE LIST PRICE. If you're not prepared to pay above superficial price on a lowball short sale listing, THEN PASS.

 

2. Ask your agent to research the bank and number of loans on the property.

 

The more loans and lenders, the more difficult the transaction. Not to mention, the closing process will take longer. 

 

Some lenders, deserving or not, get bad reputations for being difficult to work with. If you have an experienced short sale agent, like Kellee Heldoorn, they should know which banks are easier to work with than others.

 

3. Find out if the Listing Agent has sold a short sale before.

 

A listing agent that has never sold a short sale before can be a very risky proposition for you. Thats because its up to the listing agent to submit the short sale package and negotiate with the bank. The short sale package, alone, is a complete nightmare. If one page is missing from the 200 page package, the bank will reject the offer (that has probably been sitting on the banks desk for 3 months) and the process has to start from the beginning....ugh. Ask yourself, do you want to risk rejection of your short sale purchase because the listing agent has no experience?

 

4. Is the SELLER cooperating with the bank?

 

Some sellers do not want to cooperate and are slow to return required documents. The seller thinks that they can stay in the property longer and they are proving to the bank that they are "trying" to sale the home. Some sellers dont even allow buyers to view inside the property. This is called a "Drive By Only".

5. How many offers has the short sale property received?

Short sales will receive multiple offers if priced under the market value. An agent is not required to disclose the terms of the offers, but you will want to know how many offers you are up against. You want to make an offer that will beat the competition yet still be below market, or don't waste your time.

6. Realize that now all agents are REALTORS.

This means that the listing agent may decide to submit only the first offer to the bank, regardless of price or terms. Also realize that even if your offer is submitted to the bank, because this process could be months before a short sale approval, another buyer could outbid you.

I have listed an sold several short sales, so I personally know that it CAN be accomplished. But, its like finding a needle in the haystack and all stars have to be aligned before the close of escrow actually occurs. Some words of advise are...be patient, dont fall in love with a short sale property because the odds are not in your favor of owning the home and KEEP LOOKING!  

Should I Buy a Home Now?

by Heldoorn Team

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 1-10 of 10