David Raisey Real Estate for Ultima Realtors – Frisco Texas

This will enable borrowers to receive the tax credit in advance, so they don’t have to wait to get the money from the IRS. However, the advance from the lender cannot be used for the 3.5% down payment that borrowers have to make for FHA loans. A typical loan has $3,000 to $4,000 in closing costs, title insurance, and other fees. The advance can be used by borrowers for meeting such costs. Keith Gumbinger of HSH.com, a publisher of mortgage and consumer loan information, says the program “could just grease the wheels for a couple more people to get into FHA.” Shaun Donovan, Secretary of Housing and Urban Development, said, “What we’re doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing.”

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com

During that same time, foreclosures increased to 80 percent of all sales from 70 percent.

The median price of a short sale in the first quarter was $184,250, compared with $139,900 for a foreclosure, Nason reported. On a per-square-foot basis, short-sale prices were 18.4 percent higher than foreclosures.

“Why aren’t the banks and the Feds trying to expedite and enhance the number of successful short-sale transactions instead of losing more than one-fifth the value of the property?” Nason asked. “That’s not even taking into account the continued financial beating they take while the foreclosure process transpires.”

There were 246 short sales completed in Las Vegas in April, a 27.5 percent increase from the previous month, Rob Jenson of The Jenson Group reported. Short sales on the market increased 4.3 percent to 8,119 units.

Distress sales, which include foreclosures and short sales, accounted for 86 percent of all sales in April and has been in the 80 percent to 90 percent range for the last seven months, Jenson said.

Nason said he usually encounters mass confusion and exhaustive delays at a bank’s loss-mitigation department. Most real estate agents generally avoid short sales because of the “brain damage” sustained from dealing with financial institutions, he said. “More often than not, the transaction falls apart because of the extremely long period of time it takes to get any meaningful response from these institutions,” Nason said. “Or they decide to change the agreed-upon terms at the last minute.”

Given the current state of the housing market, especially in Nevada, short sales are cropping up more than ever as an option for avoiding foreclosure, said John Mechem, spokesman for the Mortgage Bankers Association. That taxes servicers who are set up to receive and process mortgage payments, not manage and approve home sales, he said.

“Short sales are complicated and take time,” Mechem said. “It’s not like submitting a bid to a private owner. The servicer has to do its due diligence, both for its own purposes and on behalf of the investor or the entity that actually holds the note or owns the mortgage on the property.”

Another problem is that borrowers aren’t talking to their lenders first. Instead, they’re working only with real estate agents and then presenting a short-sale offer “cold” to the bank, Mechem said.

Many of those offers come in absurdly below fair market value, he said. Each offer must be evaluated, which clogs the pipeline and slows the process.

“Oftentimes a buyer will see a short sale and mistakenly think that the bank will sell it far below list price because the bank doesn’t want to own the property, so they make an offer significantly under value,” Mechem said. “While it’s true that the bank may not want to own the house, the bank still is not going to sell the home far below what it has determined as the true market value of the property.”

Lenders are being inundated with short-sale offers that are 20 percent to 40 percent below market value, he said.

By approving more short sales, banks could save money and spare people the mental anguish of losing their homes, Nason said.

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com

This is even better news for first-time homebuyers than the tax credit announced in April 2008 because not only has the tax credit maximum increased from $7,500 to $8,000 –more significantly – it does not need to be repaid unless the individual resells the home within three years. There are several notable points about this federal income tax credit that I have bulleted for your convenience

Credit maximum was increased from $7,500 to $8,000. The credit is calculated as 10% of the purchase price. Example: If the purchase price is $70,000, the credit is $7,000.

Removed the repayment requirement, provided the homebuyer does not resell the home for three years. Eligibility remains for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the three years prior to purchase, but who may have done so prior to that time. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single. To be eligible for the full tax credit, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level, and up to $95,000 ($170,000 on a joint return), is eligible for a reduced tax credit.

The refundable tax credit can be claimed on the purchase of one’s individual or joint tax return for any single-family home that closes between January 1, 2009 and November 30, 2009. It can be claimed on a 2008 tax return (to be filed by April 15, 2009), an amended 2008 tax return, or a 2009 tax return.

Individuals should consult a professional tax advisor for specific details and restrictions, exact tax calculations and timing.

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Tax Credit Versus Tax Deduction

It’s important to remember that the $8,000 tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit… and still receive a check for the remaining $4,000!

Phaseout Examples

According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.

Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.

Homes that Qualify

Higher Loan Amounts

The tax credit is applicable to any home that will be used as a principal residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principal residence also qualify.

More good news – there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard “jumbo” loan rates.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact the Persistant Realtor David Raisey at www.RaiseyRealEstate.com

There are strategic steps to being great at prospecting. I have capsulated these in what are called the seven F-words of prospecting.

The 1st step is to Find: We have to find a place to do the prospecting. Finding a place is one of the biggest challenges in prospecting. This place has to be quiet with minimum distractions. We need to have an environment that is controlled for the prospecting to happen.

We also must find a time to prospect. Most Agents try to fit their prospecting around their day, rather than fit their day around their prospecting. Those who have no set time for prospecting do not do it. Going to the same place at the same time helps to form the habit. Prospecting is about discipline and habit. The habit and discipline make up for the lack of skill.

The 2nd Step is to Forget: We need to forget all the previous failures weve experienced. We have all had days when the results were not what we had hoped. We have all stared at the phone for an hour trying to make the first call. We have had times when we did not feel like prospecting. Forget about your previous failures. Start fresh today. Make the effort now to pick up the phone and call a past client or someone in your sphere. Take the action that needs to be taken.

The 3rd Step is to Fight: We must fight all the hindrances and distractions. Your mind and other people will create more disruptions than you can imagine: I cant make calls until I call these three people back about our deals in closing, or I have to get these flyers made for these listings, or even I have a hang nail, and it will be hard to dial the phone, and it might get infected. The reality is, any distraction or hindrance will do. You have to fight them off with a passion. The people who are effective at prospecting have just as many distractions as you do, maybe even more. They are just more effective at fighting them off.

The 4th Step is Focus: The ability to focus comes before one acquires success. If you examine the most successful people, they have the ability to achieve intense focus. They have developed the skill to be in the moment, to focus completely on the task at hand. By applying the discipline of daily activity, you can build the muscle of focus. By finding a spot and finding the time, you give your mind the opportunity to focus on your prospecting much easier. One technique I used to intensify focus before prospecting was to rehearse my scripts and dialogues. This rehearsal helped me to work and warm up before making the first call. The practice session put me in a more focused mindset.

Step #5 is to Follow: Follow a plan of action to create a plan for your day that places prospecting in its proper place. This means doing the prospecting when you have the most energy and intensity. Many of us fail to plan our day for success. We let the day unfold. Never start a day before you plan it out on paper. We must create a plan to follow. Often our time is tossed like a small ship on a huge ocean with no means of steering, going wherever the winds and surf will take us. We react to the problems and crises all day and, in the end, wonder where all of our time went. Control the day; control the time.

The 6th Step is that we must be Faithful: We must be faithful to ourselves and our commitments: faithful to do the prospecting daily, to diligently commit to prospecting daily for a specific time frame or specific number of contacts. When you are faithful to your objectives, you will win every time. When you are faithful to prospecting, the results are astounding. The law of accumulation kicks in on your behalf. This law states that everything accumulates; that all your positive actions accumulate to build momentum and exponential rewards. Its amazing how a few contacts every day repeated over time can bring forth staggering results.

Let me share two examples of the power of the law of accumulation. The first has to do with wealth. Wealth is what most people desire. I only know of few people who dont want to acquire great wealth. One of the benchmarks of wealth is becoming a millionaire. To possess a million dollars is relatively easy. If, at the age of 20, you put $2.78 away each and every day into an investment account that achieved reasonable interest, you would be a millionaire by the age of 65. Now, who in todays society couldnt save $2.78 a day? Even someone flipping burgers at Mc
Donalds could find $2.78 a day to invest. In other terms, its forgoing a Starbucks latte a day. The law of accumulation is clear and easy to apply.

We have a coaching client who took this challenge of the law of accumulation very seriously. He committed to calling his sphere and past clients and making ten contacts a day. After eight months, he had almost tripled his income from the previous year. He more than doubled the number of units sold over the previous year. His edge was that, in those eight months, he could count on one hand the number of days that he failed to hit his ten contacts per day goal. We must be faithful.

The Last F is Finish: Finish what you start. You have to run the whole race all the way to the finish line. No one remembers who was ahead at the 90-meter mark of a 100-meter race. The winner at 90 meters has to win in the last 10 meters, or hell lose the reward. Finish strong, finish focused, be faithful to yourself, and finish! Dont accept anything less than going all out at the finish of the race. If you make a goal of five contacts a day, dont do four. Do five! Dont accept anything less than the goal you have set. Accept nothing less than your best.

We can all learn to prospect more effectively. Make sure that you find the place and the time. Dont dwell on past failures; forget them. Be determined to fight for your time and fight for your focus. Create and follow a great plan of action. Be faithful to yourself and to your clients and family, and finish what you start. You will find success knocking at your door in a short period of time

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com

Calvin Coolidge, our 30th President, said it very well,”Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Geniuses will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

It truly is a noble skill to have the ability to move forward when everything around you is collapsing and meeting the challenge head on and grinding through the competition. We are all professionals, or we aspire to be a professional. The definition of a professional is someone who does something, even when he doesn’t feel like doing it. Many of us know what we need to do; yet we don’t do it. We spend our time looking for the one step that will change our life, rather than using the path of persistence to win. We look around for the magic answer that will solve all our problems. Do you realize that over 80% of the late night infomercials are centered on get rich quick or lose weight instantly? We live in a liposuction society where we want abundance-yesterday. We don’t want to do the diligent, persistent work to achieve success. Zig Ziglar has a great line: Life is like a cafeteria. First you pay, then you get to eat. It’s not a restaurant where you sit down, get served, and get your fill. When you are full and satisfied, then the bill arrives. You have to pay before you receive the reward.

Persistence is crucial to ultimate success in life. To learn the skill of persistence, you must first learn to persist in the little things. The first step for mastery of persistence is the ability to decide and have the clarity of decision that you will do it or else. Start with persistence in your eating habits or workout habits. You could even just select one thing or task you need to do today. Then make sure you complete it before the end of the day. Don’t ever end your day before you get it done.

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact the Persistant Realtor David Raisey at www.RaiseyRealEstate.comwww.RaiseyRealEstate.com

NEW YORK (CNNMoney.com) — JPMorgan Chase and Citigroup Inc. announced plans Friday to temporarily halt foreclosures as the government works to finalize the details of a financial rescue package that could include billions of dollars in aid for struggling homeowners.

The announcements come as regulators and lawmakers have stepped up pressure on financial institutions to suspend foreclosures until the plan comes out.

Vikram Pandit, Citi’s (C, Fortune 500) chief executive, and Jamie Dimon, JPMorgan’s (JPM, Fortune 500) CEO, both indicated their willingness to suspend foreclosures during testimony before Congress Wednesday.

Citi said the moratorium is effective Feb. 12 and will remain in place until March 12, or until the Obama Administration finalizes the details of its loan modification program, whichever comes first, the bank said.

The suspension will apply to home loans on a borrower’s principal residence and to loans serviced by Citi in cases where an understanding has been reached with the investor.

In a letter to Rep. Barney Frank, D-Mass., chair of the House Financial Services Committee, Dimon said JPMorgan has initiated a foreclosure moratorium through March 6, which would extend a program the bank announced last year.

“We believe three weeks is adequate time for the Treasury to announce – and for us to implement – a new plan,” Dimon said.

Treasury Secretary Tim Geithner on Tuesday outlined the Administration’s priorities for the second half of the $700 billion allocated under the Troubled Asset Relief Program, which includes spending $50 billion on foreclosure relief.

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com www.RaiseyRealEstate.com

A sign advertising a grand opening event for Wall Homes remains outside the Glenwood Trails subdivision in Plano even though the offices and show homes are closed. James Sharp is working with lenders and his builder, Sotherby Homes, to get the Plano house he’s buying finished. “It’s under construction and more than 80 percent complete,” Sharp said. “We are trying to come up with some kind of resolution.” A bank foreclosed on the partially built house after Sotherby Homes suspended some of its operations. The foreclosure was on the builder, but Sharp has earnest money tied up in the deal. Sotherby – a longtime, well-regarded local builder – ran into problems when lenders cut off additional funding. The same thing happened to Arlington-based Wall Homes, which filed for bankruptcy last weekend. “Our intentions are to complete homes under construction and continue to sell, build and close homes,” chief executive Steve Wall said. “Meanwhile, our intention and business goal is to work out resolutions with our banks and construction vendors that lead us to a successful reorganization and prepare us for a busy spring selling season.” Dallas housing analyst Ted Wilson said that even builders who don’t make business mistakes can be shut down when they can no longer borrow money. In some cases, lenders are even demanding repayment of loans that are in good standing. “You can have the best-run company now – good product in good locations – and all that’s out the window,” said Wilson of Residential Strategies Inc. “At the peak of the market, we probably had 80 or so production builders in the Dallas-Fort Worth area. “We probably have lost 25 or so of those already.” Jobs are being lost, too. “Layoffs have been rampant throughout the industry,” Wilson recently told a meeting of real estate execs. “Not a day goes by that I don’t hear from someone who’s out of a job. “We could more than fill this room.” More dark days More builder bankruptcies and closings are expected this year.

The National Association of Home Builders estimates that 20,000 homebuilders nationwide – almost one in 20 – have gone out of business in the last two years. Part of the shakeout is due to slower demand. In North Texas, new home sales have fallen by more than 40 percent since 2006, and single-family home starts are at the lowest level in close to 20 years. And even though builders have cut back on speculative home construction, lenders are still tightening further. “With the credit crunch, the lenders are looking to reduce their exposure to real estate,” said David Brown of housing analyst MetroStudy Inc. “We have seen some lenders say they are no longer going to be in the residential construction business. “They are choosing not to renew lines of credit, and those that are staying in the business want to reduce their exposure,” he said. “It’s making it tougher for builders to get the financing they need.” That’s what happened to Sotherby Homes, which has been in business for 14 years and builds about 300 houses a year. In December, the company suspended many of its operations and let workers go. Sotherby “remains in consultation with various banks to see whether it can complete sold homes,” a spokesman said this week. D’Ann Petersen, a business economist with the Federal Reserve Bank of Dallas, said “some banks and lenders are very wary of adding to their share of real estate loans given the current situation. “How much of that is based on their own precautions vs. how much of that is being suggested by regulators is hard to know,” said Petersen, who made her comments based on Fed surveys. “Very few real estate deals are being financed currently.” Trouble for buyers In some cases where builders have gone out of business or filed for bankruptcy, homebuyers have lost upfront money or have had liens filed against their homes by unpaid subcontractors. “Sometimes you can’t tell until it’s happening, which is frightening,” said Jeannette Kopko of the Better Business Bureau of Metropolitan Dallas. In 2008, the number of complaints against builders received by the Dallas Better Business Bureau rose almost 40 percent. But the number of inquiries about builder reliability was down, Kopko said. Before buying a house, consumers need to “do their homework,” Wilson said. “The builders with the stronger financial records are the ones you want to focus on.” Even that is no guarantee. “Builders that are in good shape are signing contracts and can’t get construction funding,” said Bob Morris, head of the Home Builders Association of Greater Dallas. “And builders with contracts that have started construction have had lenders shut them down.” Membership in the local homebuilders organization has fallen by about 15 percent from its peak, he said. TIPS Research the builder. Ask your builder if it is a member of the Better Business Bureau and check the builder’s record. Ask the company if it has any outstanding complaints. You can also request this information through public records from the state attorney general. Read your home warranty before you buy. Ask your builder for a copy, and make sure you understand what is covered. Research your warranty. Ask your builder if the warranty is financially stable and how you can research the information. Have your new home inspected. Have an independent inspector inspect the house during all major phases of construction. SOURCE: HomeOwners for Better Building BIG BUILDERS

The top Dallas-Fort Worth homebuilders: Builder 2008 home starts
1. D.R. Horton 1,892
2. Legacy-Meritage- Monterey Homes 1,112
3. Centex-Fox & Jacobs-City Homes 881
4. Highland-Horizon- Huntington-Sanders Homes 838
5. K. Hovnanian 593
6. David Weekley- Custom Classic Homes 586
7. Choice-Parkmont Homes 581
8. History Maker Homes 577
9. First Texas-Gallery- Harwood Homes 547
10. Lennar Homes 542
11. Pulte Homes 495
12. Ryland Homes 489
13. Grand Homes 432
14. Coventry-Pioneer- Plantation Homes 355
15. Wall Homes 354
16. Beazer Homes 337
17. Drees Homes 323
18. Mercedes-Vintage Homes 273
19. Standard Pacific Homes 268
20. Darling Homes 263

SOURCE: Residential Strategies

If you or someone you know are looking to buy or sell a home, please contact David Raisey with Coldwell Banker Residential Brokerage in Dallas Texas.  listings@raiseyrealestate.com or visit www.RaiseyRealEstate.com

What are real estate professionals saying to homebuyers and sellers about current market conditions? The successful brokers and sales associates are talking about the strengths that exist in the market — not the negative media hype. Below are positive angles that appeared recently in the media and underscore why it is a good time to buy real estate.

Recent Quotes & Excerpts about the Positive Signs in the Real Estate Market:

Financial Analyst Cites Positive Signs in the Housing Market According to Richard Bove of Ladenburg Thalmann, one of the country’s veteran financial analysts, there is a positive dynamic taking shape in the current cycle:

· Bove said he expects “housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase.”

· Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration – and there’s a good chance we’re going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

· Mortgage rates continue to hover at 50-year lows – 5% and even 4 .75 % for 30-year mortgages, and still lower for 15- and 20-year mortgage terms.

· There are signs that housing prices are stabilizing in some parts of the country. The latest monthly Federal Housing Finance Agency index found home prices up by 0.6% in the Mountain states and by 0.2% in New England.

· We’re all paying a lot less at the gas pump, and sharply discounted prices for retail goods and autos.

· Americans are actually saving again, the national savings rate took a nearly 3% jump last month. That might sound small, but it’s hugely important if it is the start of a trend.

Keep your eyes open for the small positive signs that are accumulating out there … because all down cycles tail off and come to an end. — “Real Estate Outlook: What’s in Store for 2009?,” by Kenneth Harney, Realty Times, Jan. 6, 2009.

Regional Update: Good News from Markets around the Nation San Antonio , Texas Existing home sales should improve in 2009, based on home sale increases during the last month, according to presenters and attendees at the San Antonio Board of Realtors Annual Housing Forecast. “There are people coming out of the woodwork buying housing. We are expecting to exceed our (sales) predictions by 35 percent. I’ve had to add some contract people to handle the business.” — Bob Gardner, CEO of a local mortgage company, “S.A. Housing Market Expected to Improve,” by Aïssatou Sidimé, San Antonio Express News, Jan. 7, 2009. Seattle , Wash. House prices showed some buoyancy in Seattle and King County last month, according to the Northwest Multiple Listing Service. The median price for a Seattle house that sold in December was up just over 5% from November and down nearly 4% from December 2007. The price was the highest since July, and the year-to-year drop was the smallest since May — “Housing Prices Rose Despite Holidays, Snow,” by Aubrey Cohen, Seattle Post-Intelligencer, Jan. 7, 2009. South Bend , Ind. (Agent) Patty Miller says 2009 could be a good year, based on how things have gone so far. “In the last few months, it’s really starting to pick up. Our office, itself, has already had five sales just in the last week. Our phones are ringing off the hook and the listings we currently have are getting more showings.” “For first-time buyers it’s great right now, there’s never been anything better. They have more choices than ever and they can get more house than they could before.” — Tara Lochmandy, a local agent, “Realtors see Positive 2009,” FOX 28.com, Jan. 6, 2009. Santa Clara County , Calif. Home sales in Santa Clara County were up 14% in November from the same month a year before. Real estate and mortgage professionals say most buyers now in Santa Clara County are first-timers drawn to the market by lower home prices and falling interest rates. Investors and first-time buyers alike seek bargains on homes repossessed by banks. “Literally everything is going for over the price that it’s listed. Everyone’s scrambling right now for a house under $400,000. It’s the hottest market.” — Jackie Buttice, a potential home buyer, “Home Sales are Up but Prices are Falling; Who’s Buying Houses?,” by Sue McAllister, San Jose Mercury News, Jan. 5, 2009. New Jersey For all the consternation by New Jersey home sellers about the sorry state of the housing industry, there are plenty of savvy first-time buyers who know a good value when they see one. “The next 12 months continue to be the best time to make a home purchase in a long time.” — Jeffrey Otteau, president of a market research and appraisal firm, “N.J. Housing Market Slide Provides Opportunity for First-Time Buyers,” by Joseph R. Perone, Star-Ledger, Jan. 3, 2009.
 
If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com