Purchasing a condo or Townhome can be a great decision in home ownership but you need to do your homework first. Be aware of these three pitfalls in order to you make a sound investment while enjoying the benefits and rewards of living the simple life. There are lots of reasons people buy condos and townhomes, but there can be pitfalls you need to avoid if you’re going to be successful. In this article, I will discuss some of the most common issues that pop up in condo transactions and how you can avoid them to … [Read more...]

Most of the single-family homes in the United States are more than 20 years old, and roughly 60 percent of the sales so far this year involve homes built before 1990 and 70 percent of single-family homes were built before 1990. That's the findings of the Aging Homes Analysis conducted by RealtyTrac, a provider of comprehensive real estate data. A large percentage of home built in Dallas are at least 40 years old and are likely in need of some or major repairs which is not surprising. However, given the low … [Read more...]

Fannie Mae is scheduled to implement changes to its Desktop Underwriter (DU) system on Nov. 16 that will make it harder for some borrowers to qualify. These include tougher debt calculations for adjustable-rate loans; a complete removal of interest-only options; a maximum loan term of 30 years (instead of 40); and an increase in the minimum down payment from 3% to 5% of the loan balance. While the increased down payment could deter some buyers, Fannie Mae's program still has advantages over that of the … [Read more...]