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This article is written for every real estate seller in today's times. Truly this has not been like any other times selling real estate. This article will be especially relevant in the greater Frisco TX areas. Real estate is local.

The General Real Estate Atmosphere

Interest rates have been harboring around historical lows. Foreclosures and short sales make great bargains in town. They almost seem no rhyme or reason to sales prices anymore. Banks and lenders just want to get out real estate business and go back to do what they've always been doing: borrowing money. On top of that, the Federal government continues to help stimulate the housing market by offering the First Time Home Buyers $8,000 Tax Credit. To find out more about the tax credit and how you may utilize it, read the related articles below. So, lower-end homes, especially less than $300,000 are market movers in the greater Frisco TX areas.

Prepare For Delays and Save Some Heart Aches

On May 1 2009, the mortgage and appraisal industries created the HVCC (Home Valuation Code of Conduct) with the intention of minimizing or eliminating deceptive lending practices due to "inflated" home values. Home sellers should be aware of how this may affect the buyers for their properties.

A successful home sale has always been about a willing buyer and a willing seller at an agreed price. It still holds true. However, no other times an appraisal affected home sales as often as since the inception of HVCC. Appraisals are now ordered through an appraisal management company. Lenders no longer have relationships with the appraisers and no longer work together in providing objective appraisals. Appraisers may not meet market value, or appraisers may write hurting comments that could affect the outcome of sale. All in all, it affects the sale of the home. Hence, the possibility of home sellers moving on.

Some closings have delayed 2 weeks, some even longer. Most eventually do close. There are too many factors that could delay the sale. Thus knowing it from your buyer's standpoint may benefit you in how it may affect the sale of your home. Should you be interested in knowing the challenges of home buyers in today's real estate market, find out here at What every real estate buyer needs to know when buying in these times.

It is important for you, as the Seller to understand what your Buyers need to undergo in order to successfully purchase your home. There are new Truth in Lending disclosures (in effect July 30 2009) that affects your buyers. Hence, a buyer who has gone as far as he/she could in getting qualified may save you some headaches towards the end. Now, they are worth gold.

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About Loreena & 3:16 team REALTY

Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
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3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #0507884.

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When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX


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