Plano, Frisco and Allen Texas real estate listings, home buying, selling and relocation information

The Geni Manning Team, REALTORŽ, real estate agents and broker for Plano, Frisco and Allen Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

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Looking for your personal home, condo, high-rise, townhouse, farm or ranch? Or are you an investor looking for properties to build your wealth? Search everything in MLS and what the internet has to offer, right here through out the entire North Texas area! Don't miss our Featured Homes.

Need local real estate information? Whether you are looking for golf course communities, master planned communities, luxury homes, country estates, or investment properties, we've summarized much of what is available and important in the Dallas, Ft.Worth, Plano, Frisco, Allen, McKinney and other surrounding areas.

DAILY NEWS RELEASE: McKinney first time home buyers receive an additional $7,500. They can get this along with the $8,000 tax credit.

BREAKING NEWS:

10 Important Facts about the Extended First-Time Homebuyer Credit

IRS Special Edition Tax Tip 2009-13

If you are in the market for a new home, you may still be able to claim the First-Time Homebuyer Credit. Congress recently passed The Worker, Homeownership and Business Assistance Act Of 2009, extending the First-Time Homebuyer Credit and expanding who qualifies.

Here are the top 10 things the IRS wants you to know about the expanded credit and the qualifications you must meet in order to qualify for it.

You must buy or enter into a binding contract to buy a principal residence on or before April 30, 2010.

If you enter into a binding contract by April 30, 2010 you must close on the home on or before June 30, 2010.

For qualifying purchases in 2010, you will have the option of claiming the credit on either your 2009 or 2010 return.

A long-time resident of the same home can now qualify for a reduced credit. You can qualify for the credit if youve lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the new home is purchased and the settlement date is after November 6, 2009.

The maximum credit for long-time residents is $6,500. However, married individuals filing separately are limited to $3,250.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after November 6, 2009. The full credit is available to taxpayers with modified adjusted gross incomes up to $125,000, or $225,000 for joint filers.

The IRS will issue a December 2009 revision of Form 5405 to claim this credit. The December 2009 form must be used for homes purchased after November 6, 2009 whether the credit is claimed for 2008 or for 2009 and for all home purchases that are claimed on 2009 returns.

No credit is available if the purchase price of the home exceeds $800,000.

The purchaser must be at least 18 years old on the date of purchase. For a married couple, only one spouse must meet this age requirement.

A dependent is not eligible to claim the credit.
For more information about the expanded First-Time Homebuyer Credit, visit IRS.gov/recovery.

$8,000 TAX CREDIT FOR FIRST TIME HOME BUYERS Questions:

Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a first-time home buyer the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyers tax credit is determined by two factors:

The price of the homethe credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer's incomesingle buyers with incomes up to $75,000 and married couples with incomes up to $150,000may receive the maximum tax credit.

If the Buyer(s) Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying incomeover $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

RISMEDIA, October 1, 2009The Federal Housing Administration (FHA) has delayed the implementation of rules that could make life more difficult for buyers across the country. The delay should be especially helpful for those hoping to qualify for the first-time buyer tax credit that expires after Nov. 30.

The new FHA rules, which were to take effect Oct. 1, 2009 will now be effective on Nov. 2. They are designed to improve the lending process, but they could cause some short-term delays in completing loans and closing purchases. The FHA was wise to delay the implementation of these changes. Now, buyers trying to close a transaction by Nov. 30 should be able to file their FHA loan applications early enough to qualify under the old regulations.

USDA Loans with ZERO Move-In Financing, along with a $8,000 Tax Credit

These programs are also combined with a $8,000 Tax Credit for any Buyer that has not had a home loan in the past 3 Years. Many buyer are amending their 2008 tax return and getting the $8,000.00 tax credit now.

Buyers can finance a home with an FHA Loan up to $271,000.

1.FHA Streamline Refinance is going away. Right now if you have an FHA loan you can refinance with only a verbal verification of employment, no income or assets verification is needed, no appraisal and reduced closing fees. As of January 2010 all FHA refinances will be required to fully re-qualify with income and assets, appraisal and full fees. If you know anyone that is considering a refinance of their current FHA loan they should get started immediately.

2.FHA lenders are moving towards the HVCC appraisal system (ugh!). As of January 2010 appraisals will be ordered through the lender on FHA loans as they are on conventional. This information was just published on Friday and there most of actual process is still unclear so I cant tell you anything for sure right now on how this process will work but there will be more information coming out as we get closer to the end of the year. It will be more important than ever that the lending source you are using has an internal appraisal department versus using an appraisal management company (AMC). At VanDyk they have an internal system which means we control the appraisers that are part of the pool versus the AMCs who have 1000s of potential appraisers that could get the job and most will not be qualified.

3.FHA premiums and down payments will stay the same at 3.5% down and .55% monthly MI figure. No change here.

4.New Good Faith Estimate is being implemented. It is about 4 pages long versus current of one page and is very confusing at best. Projection says that this is another form that will only serve to help the consumer understand less than they did before.......... By Carolyn Cantrell

SPECIAL FINANCING AVAILABLE:
* Special Financing for FIREMAN, POLICE, EMT & TEACHERS...Call for details.
* BOND MONEY now available for First Time Homebuyers, along with the $8,000 TAX CREDIT for buyers that have not bought a home in THREE YEARS (but this goes away at the end on November 2009)...click on the button above "For Buyers" for more details or call me.

Have you had a bankruptcy, foreclosure, have bad credit or no money to put down? No problem, we understand and have answers for all unfortunate situations. Do you have a lease you can't get out of before you buy? No problem, we will buy your lease out. We can help in all these situations. Did you know there are special groups of people that are qualified to get ZERO down payment and special financing? Teachers, doctors and military are just a few. Call Geni and ask how she can help you with ALL these special needs and programs.

Need expert advice? No web site, large or small, can take the place of a top real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. Geni has expertise and experience to help you with whatever your goal is. That's Geni Manning's job.

Contact Geni with confidence! We guarantee your privacy will be respected. Geni offers these services on this site for free and without obligation. Why? She wants to be YOUR real estate agent. As your trusted, professional real estate partner, Geni will help you find the best home in your area within your price range. And together Geni will sell your home, for as much as the market will bear, and as quickly as possible. She may even sell it for more than list price...she does that often! Her unique marketing technique gets contracts fast (usually multiple contracts) and if it's not full price it probably is more than list price!

Buying and selling a home is one of the biggest events in your life. As a top Dallas, Plano, Frisco, Allen, McKinney, and other surrounding areas real estate agent, Geni has the experience and track record you are looking for. Please let her help. Call Geni at 800-741-2483 ext.800.

Deadly Mistake #1 . . . Not hiring a buyer's agent to represent you.

Buying property is a complex and stressful task. In fact, it is usually the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and competition from other buyers require Realtors to perform at an ever-increasing level of professionalism. For many homebuyers, the process turns into a terrible, stressful ordeal. In addition, making the wrong decisions can end up costing you thousands of dollars. It doesn't have to be this way.

Work with a Realtor who has a keen understanding of the real estate business and who is on your side. Realtors have a fiduciary duty to you. That means they are loyal to only you and are obligated to look out for your best interests. Realtors can help you find the best home, the best lender and the best inspectors. Best of all, your Realtor is paid by the seller even thought he or she works for you.

Trying to buy a home without your own Realtor at all is, well . . unthinkable.

Best of all, when Geni assist you with your real estate needs you are giving back to the community and around the world in many ways. See 'About Us' to discover how.

Guarantee Buy-Out Program and
Builder Move-Up Program!

If you have a home to sale before you buy another one, don't let that stop you from getting the home of your dreams. We can get you out of the one you have now with several options.

Call Geni today at 800-741-2483 and find out the details of our Guarantee Buy-Out Program ext. 8011 and our Builder Move-Up Program ext. 8031.

Lease Buy-Out Program!

If you are tied to a lease and can't buy a home now, take advantage of our Lease Buy-Out Program!

Here is how it works:

You are interested in buying another home, but your lease is not up for another 4 months. Contact us and we will take care of the remainder payments.

Here are the Advantages:

Stop throwing away money and start building EQUITY!
Buy at Todays Prices and Interest Rates!
Take Advantage of Builders Close-Out Deals!
Get the Tax Advantages of Owning a Home!
Get a New House with a Yard in a New Community!

Call NOW to find out how this applies to your situation 214-495-9100.

Bridge Loans Offer A Cash Infusion?

Definition of a Bridge Loan: An equity loan secured to solve short-term financing problems.

If you've never heard of a bridge loan, it's probably because the housing market has been so hot for so long that most people haven't needed them.

In the last five years many homes sold within days of being listed, meaning few homeowners had to worry about paying for their new homes before they'd sold the old ones. But a slowdown in a number of major housing markets in the U.S. suggests that more consumers may need a helping hand to bridge the gap between buying and selling a home.

If you're one of the unfortunate home sellers caught between two closings, a bridge loan -- also known as a swing loan or gap financing -- can provide you with the cash infusion you need. There are two types of bridge loans.

If you would like to discuss this option for your situation, call Geni at 214-495-9100.

But waitHere is another option!

If You Think You Need a Bridge Loan

Same scenarioYou're thinking of buying a house so you go out with a Realtor and find the perfect "move-up" home. You fall in love with it. If you're a married man, your wife falls in love with it. Same difference. So you present an offer. The only problem is that you need to sell your house in order to buy that house. But you haven't even put your house on the market yet.

So you make a "contingent" offer. Your offer to buy is contingent upon your ability to sell your house in time to close. You haven't even listed your house yet. That's a little bit "too" contingent for most sellers nowadays. They are likely to turn you down. Bummer.

In hindsight, you realize you should have listed your house first, got an offer (and accepted it), then gone out looking for a new home. But it's too late and you really want that home.

You remember reading about the "bridge loan. It's cheaper to borrow from your 401K (if you have enough money in it). Lenders allow that as a source of funds for down payment. Any secured loan is an acceptable source of funds for a down payment. If you have stocks or bonds or an insurance policy, you can borrow against that, too. Even a car. Any loan "secured" by a physical or financial asset.

Or you can get a "gift" from a family member to make up whatever shortfall you need.

Or...if you have enough equity and can qualify for a bridge loan, you can qualify for a home equity line. It only costs about $350 at your local bank.

Just get the loan before you list your property for sale.

For More details on these options call Geni at 214-495-9100.

The Holidays Are The Best Time To Sell My Home... Fact or Fiction?

It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications may seem long. But wait! Most top Realtors agree that taking your home off the market during any Holiday is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.

HOLIDAYS are a wonderful selling period. Why? Because most people take off work sometime during those days or the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.

Before you take your home off the market, consider these other points:

ˇ Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected during Holidays including Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.

ˇ Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. However, finding the right home at the right price is important.

ˇ Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.

ˇ During the holidays, our culture focuses on family and the home. Preparing for the indoor activities is one of the most enjoyable periods of family life. Allowing buyers to view your home during these most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

ˇ When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.

ˇ You will find that a lot of Sellers do take their home off the market during the holidays & this is great, because you will have less competition! The buyers will have less to choose from, so they cant be as picky, therefore they will usually make higher offers.

ˇ With reduced inventories and motivated buyers; you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.

ˇ If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.

If after reading and considering these viable points, you are still considering keeping your home on the market, please give us a chance to show you our 30 Day Marketing Plan that will get you a higher price!

Call today, 214-495-9100 for a FREE presentation.

Proud To Call Dallas Our Home

According to Forbes.com, Dallas ranked seventh in a study that found the top 10 most affordable places to live well. Dallas was chosen because it is one of the fastest growing cities in the country. Dallas also has better air quality and access to public transportation than other major cities such as Houston.

Not only is Dallas affordable, it also has a very stable market!
Another study, according to Forbes.com, ranked Dallas as the fourth most stable housing market in the country. The study predicts that in 2008 there will be a 5.45% price increase (currently, the Median home price in Dallas is $156,500). In the past, this increase might not have seemed like a number worth talking about. But, in todays market it is an extremely positive change!

Why is Dallas such a stable market? Here in Big D, we have a strong, rapid job and population growth as well as an abundance of affordable housing. Because of this, Dallas market is very price-inelastic which will help shield the city from the nationwide decline in real estate values.

Serving The D/FW Area For 27 Years!