Andrea T. Fowler – Page 16 – Drea Takes on Dallas

Brand New Home. Marriage Proposal. Birthday Celebration

Posted on February 8, 2016February 8, 2016 by Andrea T. Fowler

This weekend has been an adventurous one. It started with a closing for my client at 2pm. Now when I met Billy last year, at our consultation he mentioned that when he purchased this house he would propose to his girlfriend. I was like “Oh my gosh. That would be amazing!”. Then the woman in me came out and was like, “are you strictly choosing the house or will she be with us?” He informed me she’d be along the journey. Woman we are very particular and our happily ever after home has to be perfect for us. Yes, the notion of gifting a house as part of the proposal is sweet but it can’t be any house.

So I was determined to help find the happily ever after home. Mind you Chelsie did not know about this part. She just knew they were going to buy a house and she wanted a yard big enough for a pool. I was able to say let’s do a master-planned community that has a pool to keep costs low for you guys.

It was then that we found a community outside of Lancaster, Texas that fit their needs. Building a new home takes so time so I completely forgot about Billy’s gesture. It wasn’t until Friday came and he was like today is my birthday. What a sweet birthday present as you close on your new home! He looks at me again and was like today is the big day. Suddenly I remembered and was equally excited.

He had the place and time down to the science. The place: their new home. The time: Around 6:30 to 7 when all their family members would be present to come view the home.

I rushed back down to be apart of this experience because it feels good when your clients welcome you into their world outside of buying their home. I always say real estate is so much more than opening doors and collecting a check. There is a bond that is built and my clients really become my extended family after the transaction.

Here are some snippets from that day which included a brand new home, marriage proposal, and a birthday celebration! What a Happy Day!!!

That’s 1 down and 35 to crown in 2016. Congratulation Billy and Chelsie! Wishing you guys the best to come with your future marriage, family, and now home.

No Matter Which Groundhog You Listen To, You Should Buy or Sell Before Spring!

Posted on February 4, 2016February 5, 2016 by Andrea T. Fowler

Is spring closer than we think? Depending on which Groundhog you witnessed a few days ago, you may have less time than you think to get your home on the market before the busy spring season.

Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.

Here are five reasons to sell now.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!

Take advantage of the strong buyer activity currently in the market.

2. There Is Less Competition Now

Housing supply just dropped to 3.9 months, which is well under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last three years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A study byHarris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will increase in the spring. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.4% over the next 12 months according to CoreLogic. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by three-quarters of a percent by the end of 2016.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

On the other side, here is the top reasons why you should buy before Spring.

Serious Sellers with Serious Deadlines.

There are less people moving out or buying during winter season because of Christmas and End of the year activities that needs to be done. This means there are a lot of great properties which were listed during winter but was not sold, sometimes that also means price reduction.

2. New year New you

A lot of people believes in starting fresh at the start of the year, some of these individuals have just started looking around and do not have everything they need to get ahead of the home buying process which is why they normally end up buying in Spring. Get ahead of the herd by getting pre-qualified and talking with a lender to know your buying limit and save time.

3.Get a Great Price for Listed Properties from Winter

Like mentioned above, lots of properties are still in the market from winter. This is the time where sellers are usually active and likely to be in negotiating mood for their property. Try to contact a seller immediately if you see a house that suits your needs.

4. Vacation time is over

Tried to contact a seller during Christmas time and did not get a reply? This is the best time to send a follow up as most people are back to business. You are more likely to get a home if you follow up with a seller to let them know that you were first in line if there are others who are interested in the property as well.

5. Less Competition

Do not get caught in the Spring Trend of the Real Estate market. Prices go up and great properties are being sold by the minute. Get first pick of the best property by getting a headstart!

For more information about selling your home, contact New Avenue Realty (Keller Williams Realty – Dallas Preston Road) via email or phone at [email protected] or 972.813.9788.

9 Ways to Fund Your Down Payment

Posted on February 2, 2016April 16, 2019 by Andrea T. Fowler

You’ve come to the realization that you are done renting. You hate driving through the broken gate into your apartment complex and you aren’t feeling the property management anymore? Okay that may have been my own personal struggle but I know plenty of people thinking the same.

Example: You pay $1400 a month in rent. That is yearly amount of $16,800 (yes in reality that is what you are paying). Guess what? When it is tax time, you cannot write any of that off and that is just $16,800 out of your pocket for a place that you don’t own and have to ask permission to paint the wall. How fun is that?

Now you’re at the point of “I want to own my home and live my life on the edge.” The scenario may not play out like that but you’re at the point where you want to own your own home. You want the granite countertops, stones on the outside of the home, inviting entry-way, and my beloved favorite: media room.

You know you can get approved for a mortgage. You know you have excellent credit and a stable job. The fear is the down payment. How do I purchase my home without having the funds to do so? Don’t I need 20%? Well I am here to break down what you need and how to gain those down payment funds.

How much will the downpayment be?

This answer really depends on what type of mortgage loan works best for you. For a FHA loan, you will be required to put down 3.5% of the sales price. For a conventional loan, that amount would be 5%.

Example: If a home is $250,000, for a FHA loan you will need a downpayment of $8,750. On that same home with a conventional loan, that the downpayment would be $12,500.

Does that make you feel a little better?

I don’t have that amount saved. What do I do now?

Did you know that there are numerous resources to help with the downpayment. Here are 8 ways to fund your downpayment.

1. Check Your Savings Account
  - Now you may have checked here first and realized that was the obvious first option for the downpayment but that is mostly the first start and lenders are going to want to see some savings in your account.

2. Tap your IRA

- - If you’re looking to buy your first home, let the Internal Revenue Service help. Tax laws allow you to use up to $10,000 in IRA funds as a down payment if you’ve never owned a house. If you’re married and you both are first-time buyers, you each can pull from your retirement accounts, meaning a potential $20,000 down payment. Even better is the IRS definition of first-time home buyer. Technically, you don’t have to be purchasing your very first abode. You qualify under the tax rules as long as you (or your spouse) did not own a principal residence at any time during the two years prior to the purchase of the new home. In these instances, Uncle Sam waives the penalty for early withdrawal, but you may owe tax on the money depending on the type of IRA. Many cash-strapped home buyers, however, find the long-term return of investing in residential real estate is worth the short-term tax bill. (Bankrate)

3. Borrow from your 401K

- - Do you have more retirement money in a company savings plan? Consider borrowing against your 401(k) for the down payment. There are downsides to this strategy: Unlike an IRA home-related withdrawal, you’ll have to pay back any money you take out of your company plan. The repayment will cost you a bit more since the account contributions were made with pretax money, but your payback will be made with after-tax dollars. At least the interest payments on this loan will be going back into your 401(k). (Bankrate)

4. CDs, Stocks, Bonds

- - Do you have money stashed in CDs, stocks, and bonds? These assets would help would it comes to your down payment.

5. Down Payment Assistance Programs

- Majority of the major cities in the metroplex have down payment programs. The state of Texas does as well. These programs are based on your household size and income. The amount of money from these programs range from 5% of the loan price to $20,000. The city programs are based for low to moderate income families. The chart below is widely used in the Dallas, Collin, and Denton County areas. FYI – The income cannot exceed the number based on your household size. These are local income limits. The state limits are higher.

Dallas, TX HUD Metro FMR Area
Income Limit	1-person	2-person	3-person	4-person	5-person	6-person	7-person	8-person
FY2018 Low-Income Limits	$43,250	$49,400	$55,600	$61,750	$66,700	$71,650	$76,600	$81,550

6. Ask a Relative

- - Do you have a rich uncle or parents? Aunt Sue and Uncle James love you right? Butter up that loving to ask relatives for a gift fund. Your down-payment can be funded by relatives who are willing to give you funds to purchase your home with no strings attached. It has to feel good to come from such a loving family right? Go ahead and give Uncle James a call right now.

7. USDA/VA Loan

- If you have served our country, you are due to a special treat when it comes to homebuying. You will be able to qualify for a 100% financing loan. This means no down payment and low interest rates.

- You may not be a veteran but you don’t mind living in a rural area to have 100% financing. Then you may be eligible for a USDA loan. This loan has income restrictions too. USDA loans are restricted to rural areas BUT areas such as Little Elm, Aubrey, Cross Roads, Oak Point, Prosper, and Celina are eligible for 100% financing. These areas are quickly growing in the metroplex.

- Below is the income limit for USDA Loans in the metroplex. The limits are based on household size in each column. Column one is for a one person household and so on until an 8 person household size.

8. Get A Second Job

You can also get a part time job to help secure your down payment. We could all use some extra income to satisfy our needs so why not apply for a job to help secure those extra funds Uncle James couldn’t give.

9. Sell Your Assets

With new sites and apps, you’re able to sell things quickly and shortly to secure some cash. Sites like OfferUp, Ebay, and Craiglist are all valuable to sell things that you could give up to secure a few more dollars.

These are just the steps to fund your down payment to becoming a homeowner. As always, I’m #CrowningHomeowners and this is my Tuesday Tip.

Home Owner’s Guide to Remodeling – Bedroom

Posted on January 28, 2016January 28, 2016 by Andrea T. Fowler

Remodeling of a house is one of the Joys of being a home owner. Not only does it give your home a make over, it also gives your home a little bit of “you” in every room that you customize. This week’s Home Owner’s Guide to Remodeling is all about the Bedroom. We spend 1/3rd of our lifetime asleep, which is why comfort is the number one goal we must keep in mind in remodeling the bedroom.

traditional-bedroom — Got lots of room? Create a spacious area in your living room for a more relaxed feel or for personal activities.

master-bedroom-remodel-ideas-master-bedroom-remodel-ideas-a-plus-contractor-llc-on-bedroom-beautiful — Keep it simple but classy! Wooden frames and great lighting is a good combination for that bedroom in you bachelor pad!

master-bedroom-remodel-ideas-on-classic-master-bedroom-remodel-ideas-style--1024x682 — A mix of study room and bedroom for individuals who likes to read and relax right before bedtime.

Bedroom1a — Children’s bedrooms are ever changing as the child that sleeps in it. Keep them engaged by letting them design and add stuff they like in their room.

Roger DeWeese, Peachtree Architects — Creating a theme for your bedroom is always a good idea, go crazy in colors or match your furniture to the color of the bedroom.

Home Owner’s Guide to Remodeling – Living Room

Posted on January 15, 2016 by Andrea T. Fowler

Remodeling of a house is one of the Joys of being a home owner. Not only does it give your home a make over, it also gives your home a little bit of “you” in every room that you customize. This week’s Home Owner’s Guide to Remodeling is all about the living room. The living room usually has the biggest area in the house which gives home owners more options for remodeling. Here are some ideas you can try yourself to make your living room the favorite room in the house.

room-and-kitchen-part-of-a-whole-house-project-living-room-remodel-throughout-amazing-remodeling-living-room-for-home-enhancement — Wood and bricks can give your living room the classic yet homey feel, add a comfy sofa, well placed lighting and you got yourself a room you can get a good read on.

traditional-living-room-sunken-living-room-pictures-art-painting-abstract--bright-colors-french-tan-sofa — Why not add a few art work in the living room? It gives a certain sophisticated yet modern aura perfect for guest.

contemporary-living-room — Keeping it simple can never go wrong. Try to mix and match colors for your furniture and carpets to get that sweet spot between modern home and luxury hotel.

traditional-living-room — If you have limited options because of built in cabinets and fireplace, you may want to try moving your furniture around to maximize space and take advantage of your home’s built in feature.

Home Owner’s Guide to Remodeling – Kitchen

Posted on January 7, 2016 by Andrea T. Fowler

Remodeling of a house is one of the Joys of being a home owner. Not only does it give your home a make over, it also gives your home a little bit of “you” in every room that you customize. We will be tackling one of the most challenging room to remodel in your home for today’s Home Owner’s Guide to Remodeling, the Kitchen

• Visualize the Area
The Kitchen is one of the busiest room in the house for an average family,which is why it would be best to leave lots of space for activities and new equipment. You would want a lot of space to move around while making sure you get access to every cabinet or closet whenever you are preparing a meal.

Why not add a theme to your kitchen? Notice the counter with a an elegant marble finish which complements the entire room

• Determine the Right Place for your equipment
This is where your organizational skill will come in handy. Try to plan ahead where you would want your things to be placed. Having lots of Cabinets and Counters installed will definitely aid you in organizing your stuff.

For large kitchen are, try using wood materials for a modern touch to your kitchen

• Get an Estimate
Now that you have an image of your ideal kitchen, time to see how much it would cost to complete the transformation. Try to reach out to a contractor to get an estimate.

• Use only the best quality materials
Quality materials will last longer and will give your kitchen an overall better aesthetic. Keep in mind that renovation is also an investment to increase the overall value of the property.

Simple yet elegant marble design, perfect for small to moderate sized kitchens

• Function VS Looks
Get only what is right for your kitchen. Instead of buying a huge fridge, try to look for something that fits your needs. Not only does it save you money, it also gives you more space for other equipment.

• Final Touches
While you are nearing the completion of the renovation of your kitchen, try keeping an eye out for the positions of the fixtures and faucets, cabinets and closets and other stuff you visualized. You are entitled to make any changes during this process to keep your kitchen as close to the your dream kitchen as possible.

HAPPY NEW YEAR!!! – Love New Avenue Realty

Posted on January 4, 2016 by Andrea T. Fowler

It’s 2016!!! Wow this year is following here. I’m looking to build New Avenue Realty to a higher height than it was in 2015. I’d admit that 2015 went beyond my wildest imagination so I am only excited to see what 2016 would like for the New Avenue Realty brand.

Some new things that New Avenue Realty will be doing is hosting My First Place workshops monthly in cities around the metroplex. So we will be coming to a city near you this year. We will be hosting events to get to know people in the community as well as branching out to different sectors.

But here is a little snippet of the goals for New Avenue Realty:

Crowning 36 homeowners is a big deal. So that is one of my main focuses in 2016. What about you? What does 2016 look like for you?

How Long Does it Take to Save A Down Payment?

Posted on December 17, 2015December 16, 2015 by Andrea T. Fowler

How Long Does It Take To Save A Down Payment? | Keeping Current Matters

In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Let’s get you matched with one of my preferred mortgage professionals who can help you evaluate your ability to buy today.

Best Places to See Holiday Lights (Christmas) – Dallas/Fort Worth

Posted on December 2, 2015 by Andrea T. Fowler

Sing along with me, “The most wonderful time of the year is here.” This time of the year brings so many warm and cozy feelings to everyone. The best way to get into the holiday spirit is to go venture out to see holiday lights. I’ve taken the time to get you going in different directions to view lights around the metroplex.

Deerfield Plano

This neighborhood in Plano does not disappoint when it comes to spreading the holiday cheer in the city of Plano. From the Deerfield HOA website:

Deerfield is located in Northwest Plano between Preston Rd. and Coit Rd. Enter from Legacy on Colonnade or Archgate, noting one-way and restricted-turn signs along Old Pond Dr. and Hallmark Dr.

The light show can be seen between the hours of 7pm-11pm during the entire month of December.

RED and BLUE routes on the map below are suggested main thoroughfares; be sure to visit side streets and cul-de-sacs along these routes! Use Quincy Ln. or Legacy Dr. to connect both routes.
If you decide to walk the neighborhood, then please park North of the Clubhouse on a less busy street. Here’s a map of the route: Deerfield Holiday Route Map

Christmas Capital of Texas – Grapevine

Grapevine has deemed itself the Christmas Capital of Texas and rightfully so with the ICE and Lone Star Christmas event at the Gaylord Texan and Snowland at the Great Wolf Lodge. Don’t forget to venture out to Downtown Grapevine to shop and view the light tour downtown. Head to Grapevine on Thursday, December 3rd to enjoy the parade of lights with your family.

https://www.youtube.com/watch?v=PaAvHwLSiIs

https://www.youtube.com/watch?v=vhQ8X8EIq8g

Virtutrivan Park – Addison

Vitruvian Park transforms into a MAGICAL HOLIDAY WONDERLAND during Vitruvian Lights; Friday, November 27, 2015 – Friday, January 1, 2016.

On December 5th, the festivities continue at 6:00pm with a LIVE Concert, Gourmet Food Trucks, Delicious Desserts, Beer/Wine, FREE Photos with Santa and the Holiday Snowman, an Elf Balloon Artist, Holiday Shopping Village and Metrocrest Services Toy & Food Drive.

Prairie Lights – Grand Prairie

Christmas in the Square – Frisco

Christmas in the Branch – Farmers Branch

Hilton Anatole – Dallas

Venture off to the North Pole and take the kids to have Breakfast with Santa. There is no place magical than this one during the holiday season as there is a treat for all at the Anatole.

Six Flags Over Texas – Arlington

The park transforms into winter wonderland in Arlington. The whole family will be able to enjoy the millions of lights, rides, Santa, and more.

West 7th Starlight Symphony – Fort Worth

Join West 7TH & Pinnacle Bank as we light our streets with Holiday Joy! View a five-minute music and light spectacular held on the hour, 6-10pm.

Texas Motor Speedway “Gift of Lights”

The “Gift of Lights” is a two-mile drive through the speedway that features over 200 lighted displays with more than two million LED lights. Once again, this holiday festival is brought to Dallas/Fort Worth by Christmas by Zenith, the premier provider of holiday displays. The “Gift of Lights” will be open Thanksgiving Day from 6-10 p.m. CT and the display will be open during that timeframe seven days a week through Dec. 31.

Now I wish you and yours a happy holiday season and take the time to enjoy the holiday lights around the metroplex.

P.S. Know of any that I should add to the list? Email me at [email protected] to have your favorite place added to the list.

I Want to Buy A Home…What Do I Do?

Posted on November 23, 2015 by Andrea T. Fowler

I want to buy a home…what do I need to do? I get this question often. Most buyers are browsing online and see the ohhs and ahhs of home but don’t take the time to find out what is needed to purchase the shiny home until today. I am going to layout what you need to do to purchase a home.

1. Look at Your Finances
Do you know where you are financially? Of course, you may be able to afford the rent but affording a mortgage is a different ball game. It is more of a holistic view of your finances. Check your finances beforehand: Have at least 2-3 months of a mortgage payment in savings in addition to any down payment and/or closing costs in the bank, check your credit report (annualcreditreport.com), and pay down any debt. If you need any credit tips, check out my blog post about Rebuilding Credit.

2. Get Pre-Approved

I say this often…..very often….

Looking at properties online is great. It is a start but until you take the initiative the see what you can afford you are still dreaming about purchasing a home without putting any action to it. This is the time to put action to it. Now if you aren’t qualified that doesn’t mean you cannot purchase a home. You just cannot do it at this moment. That is the reason why you need to start early on getting your foot into movement. This is the starting point. Most agents will not take you out to view homes without one. It is important to know how much of a home you can afford BEFORE house shopping.

3. Determine Your 5 Must Haves

This step is important. Once you know the five must haves in your home, you easily find the home that meets those qualities. It helps eliminate those that won’t hold your interest.

4. Location

The Dallas-Fort Worth metroplex is HUGE. Narrow your areas down to a select vicinity. As you are browsing online, check and see how much homes costs in that area. If it is slim to none in your price range, that means that area would not suffice. Check areas outside of it. Example: If you are pre-approved for $200K and want to live in Frisco, you should probably look outside of the area to McKinney, Little Elm, The Colony, and Plano.

5. Start Shopping

Meet with a Realtor and discuss your 5 must-haves, budget, and location. These steps will help speed up the process of homebuying and take the stress of it away. Homebuying should be fun but as a buyer you must do the homework initially to make it less of a stress.

Author: Andrea T. Fowler