A Few Tips for Buying the Right Home.

Whether you’re looking to purchase a home for yourself or as an investment property in Dallas and the surrounding areas, there are many things to consider prior to closing on a deal. Schools, neighborhoods, crime rate, neighbors and access to public transportation are just a few things buyers take into account before settling on a property to purchase.

There are various requirements to weigh more than others, depending in your specific situation, e.g., access to public transportation isn’t as important in Dallas as it would be in New York and the neighbors won’t bother you so much if you’re purchasing the home as an investment property (though they could affect your renters).

Another thing to keep in mind is that purchasing an investment property is quite different from purchasing a property you intend to occupy as your home. Purchasing a Dallas investment property is a business and financial decision, whereas purchasing your own home is based more on an emotional response.

What might make sense in a home for yourself won’t necessarily make sense for your renters. You might not be able to live without that wraparound porch, but that might not appeal as much to a renter as say, extra storage space. You might prefer to purchase a 3 bedroom home to have extra space for guests, but a renter might need that 3 bedroom home for themselves and their children.

If you intend to purchase a Dallas investment property, the size of the home you buy will have a direct impact on your return. Purchasing a 2 bedroom home in a developing community where families are settling might not be as good of an investment as a 3 bedroom or larger.

An investment property is just that – an investment. It’s meant to generate income and be an asset. Purchasing a home to occupy is also meant to be an asset, but a home is meant for private enjoyment, not to generate income.
So when looking for a property to purchase, know what you intend to use it for. Are you buying for yourself or are you buying an investment property to hold or rent out? Knowing the purpose will help you know what to look for and what will give you the best return on your investment.

Guest post by Karissa Valverde
MyHouseDeals.com

Short Sales in a Foreclosing Market

With the Irving Las Colinas area currently up to 110 foreclosures, some homeowners are trying to avoid losing the property by short selling their home.

Short sales are a sale where the homeowner asks the bank to cover the "short" between the sales price and the mortgage amount. For Instance if a homeowner purchased a property in Irving for $200,000 and paid 5% down the mortgage amount would be $190,000. If that homeowner is trying to sell the property but the current market does not support the $200,000 price range the property may sell for less than the amount owed.

Let's say the property gets an offer for $175,000, with closing costs and commission the seller would net approx. $162,500, well short of the current payoff. Many seller's do not have the money to come to closing with the difference. In many cases the homeowner working with the Realtor and the bank can negotiate a short sale where the bank agrees to take a loss on the difference between the payoff amount and the net proceeds.

Short sales take quite awhile to negotiate, sometime close to 8 months in my experience. The process has been getting more streamlined and quicker as banks are doing more and more of these. Short sales may be a possibility for a homeowner in the position where they do not have money to bring to closing but it is a good idea to research the ramifications of a short sale and find out what if any tax issues may come up in the future and if the bank will be asking for a promissory note for the difference.

If you have question regarding the process feel free to call or contact me and I can go over the entire process.

What is my home worth in Irving Las Colinas Texas?

What is your home worth? Irving Las Colinas - A Service from Rohter & Company
Posted by Rohter & Company in IRVING , TX

Description Find out your homes approximate current market value. Answer a few simple questions and we will send you your current market analysis!

The "What is your home worth?" service is ideally suited for Homeowners in the Irving Las Colinas areas.

If you are interested in finding out your current approximate property value for selling or property tax reasons. Our service area includes the Irving Las Colinas area of Texas as well as the Dallas Metroplex. We provide the answer to the oft asked question... What is my home worth?

Please fill out this simple form and I will have a response for you which includes homes similar to yours that are actively for sale, pending, sold and failed to sell.

Absolutely no obligation! It's simple.

Rohter & Co. is proud to offer this FREE service!

We will do a market analysis on your homes value and get the information back to you.This service can also be used to assist you with your Dallas County taxes. It is information that you can bring down to the tax office. It will give you an objective view that can be used to fairly get to a mutually agreeable value for your home.You can also use the website to look up homes for sale as well as searching specific areas in the Dallas Metroplex including Irving and Las Colinas.

What is your home worth? Irving Las Colinas is available from Rohter & Company. Please visit their website at http://www.reevrohter.com/home_worth.php for more information about the product, or contact Reev Rohter at Info@ReevRohter.com. Rohter & Company is located in IRVING , TX.