House Flippers to Blame for Housing Downturn?

Carpet InstallationHouse flippers — made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit — played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. The impact that speculative real estate investors played in driving the housing downturn has mostly been overlooked until now, the researchers note. 

The speculative investors used low downpayments and subprime credit in buying up multiple homes at once, the report says. Their actions attributed to home prices in some areas being inflated, researchers say. 

House Flippers to Blame for Housing Downturn?

Source: “Flippers’ Housing Bust Role Larger than Thought,” The Associated Press (Dec. 12, 2011) via NAR

Plano Texas Townhomes For Sale

Enclaves at Willow Crest Townhomes

Over the past 10 years or so we’ve seen townhomes make a comeback in the greater North Dallas area. Currently there are a number of new townhome communities being developed. Townhomes make a good choice for those buyers wanting a low-maintenance lifestyle. Typically, the HOA takes care of all exterior maintenance and lawn care. Townhomes are usually multi-story although we’re seeing at least one builder who builds a single-level townhomes.

If you need more information or want to know more about townhome living, contact us at 214-705-2470.

Photo: Copyright Imaged2Sell

Homes For Lease Allen TX

Allen TX

Welcome to Allen! Our residents enjoy a wholesome community atmosphere with something for everyone. The City boasts an award-winning park system featuring neighborhood and community parks, hike and bike trails, and greenbelts. City facilities include a 27-hole public golf course, a large fitness and aquatic center, a recreation center, youth center and extreme sports park, a senior recreation center and a 54,000 square feet public library.

Allen ISD offers a diversified curriculum with 13 elementary schools, three middle schools, a freshman center and a high school. The high school campus (582,000 square feet) features an on-site Collin County Community College campus.

Leases and rental homes are readily available with prices ranging from $850 to $4000+ a month.

Click here to see all Homes for Lease in Allen Texas.

For more information or to schedule a showing, contact us at 214-227-6626.

Photo: Copyright Imaged2Sell

McKinney TX Homes For Lease

Stonebridge Ranch Country Club

I’m a huge fan of McKinney, Texas. Nestled in the rolling hills just north of Dallas, this vibrant community has so much to offer–great schools, plentiful shopping, dining, golf, entertainment, and easy access to the Metroplex.

According to the McKinney TX Website:

Just 30 miles north of downtown Dallas, McKinney is a picturesque city with a small-town feel that is quite different from the Metroplex’s urban sprawl. Our friendly charm, green spaces and comfortable pace belied the fact that McKinney, with a population of more than 133,500, is one of the fastest-growing cities in America.

The city also has a fair number of single family homes for lease. Rental prices range from about $1000 to over $5000 a month depending upon the size and location.

Click here to search for McKinney Texas homes for lease.

If you need more information or want to schedule a showing, contact us at 214-705-2470.

Photo: Copyright 2009 – Tom Branch

Another Happy Allen TX Foreclosure Buyer

Nice Foreclosed Home in Allen TX

Another happy home buyer in Allen, TX. This 4 bedroom, 3.1 bath, 2641 square foot foreclosed home with a pool was recently purchased by our clients. We were able to negotiate a sales price that was 85% of appraisal district value and get the bank to pay almost all of the buyer’s closing costs!

Distressed properties can be a good value but you have to do the research and plenty of extra due diligence since they are almost always sold “as is” and without a sellers disclosure (foreclosures are exempt from disclosure in Texas).

Looking to purchase a foreclosure? Contact us at 214-705-2470 for a current list.

Tom Branch, Broker, CDPE, SFR

Photo: Copyright 2011 Tom Branch

Dakotas Fine Dallas Dining

 Dakotas Dallas Fine Dining

Gina and I celebrated our wedding anniversary last night. We love trying different dining spots and we were refered to Dakotas by one of our recent past clients.

What’s really unique about the location is that it’s actually located under the streets in downtown Dallas. According to the staff, alcohol sales were not permitted at street level at some point in the past, so the developers went “underground” so to speak. The photo above was shot looking out the window from our table. Dakotas has a great outdoor patio complete with a lighted wall of water coming down from street level.

The food was fantastic. Dakotas is a steak house and the Filet Mignon was wonderful with a nice soft texture and just the right amount of seasoning. Side dishes are served family-style and are large enough for two people. The wine list is extensive and I thought the prices were very good. The wait staff was first class–there when you needed them but not hovering all the time.

Dakotas is located at 600 North Akard. It can be hard to find because the entrance is the top of the elevator shaft sitting in the triangle created by Akard, Erway, and San Jacinto. I drove past it the first time. Parking is very limited but they have complimentary valet service so take advantage of it.

If you’re visiting Dallas or a local looking for something new to try, stop by Dakotas.

Tom Branch, Broker, CDPE, SFR

Photo: Copyright 2011 Tom Branch

Frisco Texas Homes For Lease

Frisco Texas is an up and coming jewel in North Texas. Frisco was named “Best Places to Live” in 2008 by Money Magazine and “Best Places to Relocate” in 2009 by Forbes Magazine. Located north of Dallas, Frisco has something for everyone–a great school district, major shopping, fine dining, loads of entertainment opportunities, and ease of access to major roads including The Sam Rayburn and Dallas North Tollways.

North Dallas Map

Frisco has plenty of available housing. There are apartments, condos, townhomes, and single family homes available. Single family homes lease from about $1000 a month.

Please contact us at 214-227-6626 if you have questions, need information, or want to schedule a showing.

Map: ©OpenStreetMap contributors, CC-BY-SA