The summer’s trend of rising home prices is ebbing as the traditional home shopping season end, two reports Tuesday showed.

The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose 0.3 percent to 144.96 in September, the fourth monthly increase in a row. The seasonally adjusted index is now up more than 3 percent from its bottom in May, but still 30 percent below its peak in April 2006.

Another reading of home prices by the Federal Housing Finance Agency held steady from August to September.

Homes for sale in Frisco continue to meet or beat market expectations.  Home sales in Frisco have consistently risen for the past 5 months and the days on the market continues to decline.  That is a definite indicator that Frisco Homes Sales is strong and vibrant.  

If you are interested in talking to someone about your options please call us.  If you are interested in homes for sale in Frisco,  Plano,  Allen and  in McKinney area TEAMDECELL is who you need to call.  We also assist our clients with New Construction as well.  We are your home town experts and offer excellent customer service.  214-975-3210

13441 Mondovi of Grayhawk in Frisco is absolutely loaded with Upgrades! Large Open Floor plan warmed by natural light & neutral colors. Gorgeous Kitchen with Island & Cherry Cabinets opens to Family Room with Gas Fire Place. Entertain in Formal Living & Dining or Relax in Upstairs Game & Media! 1st Floor Master boasts walk-in closets, separate vanities & corner tub. There is spacious Bedrooms thru-out this 3501 square foot home.  No Carpet on the 1st floor, Wrought-Iron on Stairs,and Plenty of Closet space. Extended Patio overlooks backyard.

Frisco ISD’s award winning Boals Elementary, Stafford Middle and Wakeland High School are the schools for this Frisco Home. 

If you are interested in talking to someone about your options please call us.  If you are interested in homes for sale in Frisco, homes for sale in Plano, homes for sale in Allen and homes for sale in McKinney area TEAMDECELL is who you need to call.  TEAMDECELL sells homes in the Frisco, Plano, Allen and McKinney Area primarily.  They are your home town experts and offer excellent customer service.  214-975-3210

5522 Brookhill Lane in Quail Meadows Village of Frisco is an absolutely beautiful 5 Bedroom, 3.5 Baths on Lonestar Ranch Greenbelt!  3100 square feet!  3 bedrooms, and 2 baths located upstairs and along with a Spacious game room! Gorgeous Hardwoods! Granite Counters, Kitchen Island, Custom Lighting, Vaulted Ceilings, Iron Balusters, Plantation Shutters, Architectural Niches, Built-Ins in Walk-In Closets, Ceiling Fans, Elegant Master Suite, 5th Bedroom can be a Study! Smart Radiant Barrier, Custom Covered Flagstone Patio, Walk to Parks and to Exemplary Bledsoe Elementary!

Frisco ISD’s award winning Bledsoe Elementary, Pioneer Middle and Frisco High School are the schools for this Frisco Home. 

If you are interested in homes for sale in Frisco, homes for sale in Plano, homes for sale in Allen and homes for sale in McKinney area TEAMDECELL is who you need to call.  They are your home town experts and offer excellent customer service.  214-975-3210

RESPA Reform-Major Changes

Congress enacted the Housing Recovery Act of 2008, which included amendments to TILA, known as the Mortgage Disclosure

Improvement Act (MDIA) of 2008. Effective January 1, 2010, highlights of the RESPA reform include:

·         Revised standardized Good Faith Estimate

·         Revised HUD-1 Settlement Statement

·         Implementation of Good Faith tolerance

·         Elimination of the 1% origination cap on FHA loans

Application means the submission of a borrower’s financial information include: Borrower’s name, borrower’s social security number, gross monthly income, property address, estimated value of property, and loan amount. Upon receipt of these items, it is a requirement to issue the GFE within 3 business days. It is assumed that a GFE cannot be issued without a property. Since a good faith is not to be issued until a property is found, the address should not show TBD.

If a mortgage broker submits a GFE to a lender and the lender accepts the GFE, the lender is tied to the GFE in its entirety, including fees and important dates. However, it is important to note that Premier Lending will be re-disclosing on all loans and will only reference our GFE as the accepted GFE. If the broker purports to have locked in the loan but does not lock the rate and the lender accepts the GFE, the lender is subject to the GFE presented. In other words, they have to honor the interest rate commitment and the settlement costs presented on the accepted GFE.

An accepted Good Faith Estimate can only be reissued under the following:

·         GFE expires after 10 days and the loan is not locked (a loan originator is bound within the tolerances provided to the settlement and terms listed in the GFE) – if the loan is locked, then the GFE cannot be reissued until after the date of the lock expiration.

·         Property use changes

·         Borrower’s credit score has changed negatively

·         Parties are added or removed from title or the property moved in or out of trust

·         The borrower does not proceed to closing in a timely manner after final approval or does not act diligently to provide lender information (in other words, give the borrower a “needs” list with expiration dates).

Changed circumstance exists (changed circumstances are defined as an act of God, war, disaster, or other emergency, or information that was relied upon about the borrower or that the transaction relied on found to be inaccurate after the GFE has been provided. Information may include credit quality of the borrower, the amount of the loan, the estimated value of the property or any other information used to provide the GFE).

This is good news for the public who want to purchase a home.  Lenders can’t do the bait and switch on you at the last minute.  If you have questions regarding Homes for Sale in Frisco, McKinney, Allen, McKinney, Plano, Little Elm and Prosper contact TEAM DECELL.

A benchmark report on the country’s commercial real estate market gives high marks for two Texas cities.  But Dallas gets barely a mention.
The annual Emerging Trends in Real Estate - a survey of the country’s top commercial real estate market players - gives a nod to Austin and Houston and for improving market conditions statewide.
“Texas markets continue to show strength after years languishing in the survey basement,” the Urban Land Institute and PricewaterhouseCoopers, who do the annual report, said Thursday.
But Big D wasn’t in the annual “markets to watch” list, which tells real estate investors where to look for good deals.
The Dallas-Fort Worth area is ranked 13th out of 50 U.S. markets tracked in the report.  Still a mention and being 13th on the top 50 isn’t bad.  Commercial and Residential  Real Estate in Frisco continues to grow.
Investors are expecting some whopper buys as troubled commercial properties hit the market, the survey says.
“Those that are patient, daring and selective could score generational bargains on premium properties from both distressed sellers and banks that are clearing out unwanted bad loan and real estate owned portfolios,” said ULI’s senior resident fellow for real estate finance, Stephen Blank.

TEAM DECELL are your local experts.  We will help you find the deal that you’re looking for.

The week began with September Pending Home Sales coming in UP for the eighth month in a row. The National Association of Realtors index was UP 6.1% for the month, and UP 21.2% over September a year ago! The index hit 110.1, with 100 equaling the average level of sales contracts in 2001, the first year measured by the index.

And, yes, the Mortgage Bankers Association once again reported the average contract interest rate for 30-year fixed-rate mortgages dropped. This time it hit 4.97% with points sinking to 1.01 (including the origination fee) for 80% loan-to-value (LTV) ratio loans.

Information Provided By TEAM DECELL 214-975-3210

USA today reported that sales of pending homes hit a record in September as homebuyers rushed to take advantage of a tax credit for first-time home buyers — a pace that could continue if Congress takes steps this week to extend and expand the stimulus set to expire at the end of this month.

The Pending home sales saw their 8th straight month of gains, marking the longest streak since the measurement began in 2001, according to the National Association of Realtors. The data, which is based on contracts signed in September, showed that sales of pending homes rose 6.1% over August. It’s also 21% higher than September 2008.

Private home construction, which increased nearly 4% in September, saw the biggest increase since July 2003 also.

If you are interested in talking to someone about your options please call us.  If you are interested in homes for sale in Frisco,  Plano,  Allen and  in McKinney area TEAMDECELL is who you need to call.  TEAMDECELL sells homes in the Frisco, Plano, Allen and McKinney Area primarily.  We also assist our clients with New Construction as well.  We are your home town experts and offer excellent customer service.  214-975-3210

Are you interested in searching Frisco Texas Foreclosures?  Or banked owned foreclosures in Allen, McKinney, Plano, Little Elm and Prosper.  With Foreclosures on the rise it is important to get up to date information, well now WWW.TEAMDECELL.COM  has made it easy.  Search directly on the MLS for Bank Owned Foreclosures, which are updated daily.  Weather you are looking for Frisco Foreclosures or Plano, Allen, McKinney or the surrounding area, we want to be your number one website. TEAM DECELL has been working with banks to sell their Foreclosures and Short Sales for many years.  It is important to use an agent that has extensive experience with banks.

Banks are not in the business of owning property, call now and let’s see how low they will go.  With the end of the year approaching I think very LOW.  Interest rates have remained low so now is the time to move.  If you act quick and you’re financing is already in place you will be able to qualify for the $8000 tax credit. If you miss the tax credit it really doesn’t matter since the prices of some of these homes are well below market value already.