DFW Metroplex Real Estate

If you think mortgage interest rates are high right now, you have a very short memory. Yes low rates 4 years ago and even 3 years ago were a dream come true but if you look back about 40 years, that was the lowest they had been in decades and the rates today are actually a lot better than they have been. Check out this reference so you can see the history and realize that today is actually a good day to buy a home! That is something you can remember the rest of your life.

Mortgage Rate History: 1970s To 2025 | Bankrate Today’s mortgage rates aren’t all that different from the rates of years past. Here’s how they compare.

This was a good way to learn about different ways to best treat all of our clients when it comes to fair housing practices. Most of what was covered has been part of my professional practice for years but there were some new scenarios that I needed to know about and I'm grateful the National Association of Realtors made this available to me!

Fairhaven: A Fair Housing Simulation I've successfully completed Fairhaven: A Fair Housing Simulation

https://themortgagereports.com/19116/first-time-home-buyers-guide-what-is-an-fha-mortgage-sp16i

FHA for first-time home buyers | Why use an FHA loan? Explore benefits of the FHA loan for first-time home buyers, including low down payments and flexible loan requirements.

For those of you who hear the term "title insurance" but have no idea why it's important. You're not alone but here's the answer.

What Is Title Insurance, and How Much Does Title Insurance Cost? Title insurance protects home buyers and lenders from many issues. Here's more on what is title insurance is, how much it costs, and how to lower the costs.

On the Fort Worth side of the Metroplex, the real estate market is just as challenging for buyers as everywhere else in the region. While several factors caused the 2008 financial crisis, there were several safeguards put into place with the intention to lower the risk of another one. However, not all current safeguards actually protect consumers and actually raise the cost of purchasing a home. Good but ineffective intentions could allow lenders to get themselves into another crisis scenario. Prices are going up where demand is going up. However, some lenders are making the mistake of allowing customers borrow more money than they should. Appraisers are again under pressure to provide the highest values possible but fortunately, most are pushing back with solid justification why a home isn’t worth $20k to $40k more than its original asking price.

Could there be another proverbial bubble to burst? Yes but from what I see, it’s likely to be limited to certain regions of the United States. As long as mortgage lenders control the impulse to be greedy, the safeguards that are effective will come into play and allow reasonable value increases. Higher values are more manageable when not excessive so if there is a downturn in the market, lenders are less likely to see borrowers abandoning properties using the “deed in lieu of foreclosure” method.

State legislators can also help by restricting loan to value rations when it comes to refinancing. There is a high level of temptation for people to stay in their homes but effectively sell it to a lender by constantly refinancing until they can’t. When I moved from California to Texas, I initially thought it was unfortunate that the state limited the loan to value ratio of refinance loans. But, by limiting borrowers to refinance to a maximum of 80% of the appraised value, it keeps people in the game so they won’t risk the rest of their equity. I quickly grew to appreciate the wisdom in this limit. Texas weathered through the recession better than states like California where in 2008, people in the real estate industry and property owners suffered immediately and for much a longer period of time before the state’s economy recovered.

Over-regulating an industry can create higher costs of doing business which are passed on to consumers. It can also hurt people who were intended to be helped. However, if pro-consumer groups could work with lenders, Realtors, and legislators at the state and federal level, we’d likely see better regulatory actions being taken which protect everyone and the removal of those regulations which interfere with good commerce.

https://guide.freddiemac.com/app/guide/section/4301.7

Freddie Mac Single-Family Seller/Servicer Guide The new, user friendly Seller/Servicer Guide will make it significantly easier for you and your team to find, understand and share critical information.

Inventories are lower and buyers are coming out during the summer to make their purchases. This create a consistent environment of multiple offers on almost every kind of residential property. If you're a buyer, I know how to determine if the listing agent will encourage their sellers to negotiate and maybe counter offer or if they have their clients only focus on the "highest and best" offer and the bottom line. By making sure a seller is open to negotiating, even when multiple offers come in, they are more likely to get a good price for their property AND get buyers who are prepared to close and close without delays. Sometimes the "highest and best" is a fairy tale that ends up with the buyers bluffing and not being able to close because they were hoping to find a way to negotiate better terms during the transaction. I don't play that game. If it looks like the focus is only on the bottom line, I can quickly pivot you to other properties that others might not be ready to look at while they play "offer poker" with sellers. I don't like wasting your time or my time. It's too stressful. Let's work together and have some fun getting you your next home!

While this has a focus local to the Fort Worth area, it might help answer questions you have about the 2020 Census.

If you haven’t already submitted your Census responses and have questions, there are a lot of details here you should know. Fort Worth Councilman Carlos Flores was also connected and shared information about the impact of the Census on city operations. At the end of the presentation, you’ll see the direct contact information for a representative from the Census if you have any questions, I hope you find this helpful. -Tony

Tony Perez Census Presentation A discussion of why the 2020 Census matters to every one of us.

For those in the Fort Worth area served by MedStar.

If you are symptomatic and don't feel good about leaving home to go to a medical facility to get tested, MedStar is ready to help.

Partnership with MedStar for COVID-19 testing — Nextdoor Stay in the know with Nextdoor, the neighborhood hub.

If you've been waiting to purchase a home, NOW is the best time in decades. With banks paying less to borrow money, it's possible to meet to pass on their savings to you.

Don't worry about viewing properties. I carry nitrile gloves, hand sanitizer, and wipes for surfaces like doorknobs and any other areas my buyers might want to touch.

Here's an article on how things are likely to work with the fed rate (for banks) going down to almost zero.

What will a 0% interest rate mean for mortgages? What does the Federal Reserve cutting its target interest rate to near zero percent mean for mortgages?

Yes, the stock market is reacting to the coronavirus. However, for home buyers, there's a likelihood you'll see lower interest rate. Make sure you check in with your lender to see if your rate will be lower when it's time to write a purchase contract.

The public needs to be VERY careful about bypassing professionals who have expertise in their field. Realtors live every day to protect their clients and get them the best value.

When it comes to listings, I spend a lot of time to help Sellers identify areas where they can make repairs, declutter, stage furniture and lighting, all to increase the desirability of their property and get more money at closing. The iBuyers mentioned in this article know exactly how to pick apart a Seller who thinks leaving out a Realtor will save them money when the reality is that the Seller will lose!

How Much do iBuyers Cost Sellers? A new study of technology-driven companies that offer to purchase homes directly from consumers—also known as iBuyers—attempts to show the true costs of this business model to sellers.