Parks of Corinth subdivision

22 homes in Corinth are scheduled for Foreclosure Next Month

The foreclosure forecasters predict a new wave of foreclosures in the coming months and years. I am looking at new data for February 2010 concerning Corinth TX foreclosure announcments. It appears that 22 homes are about to be foreclosed. Some of them will not get to that stage due to realtors working short sales with banks. However, looking at numbers it appears that current homeowners will be faced with a competition from lower priced homes sold by banks. With 112 Active Status Homes for sale it makes it over 20% of homes offered for sale in Corinth are to be foreclosed properties. Also, note that during past Christmas holidays many banks actually delayed their evictions and we should expect early months of the year to expose more REO properties than in November/December of last year. If you are a buyer - this is your time! If you must sell - I would not recommend to wait to see if market gets better. With a tax credit extended till April 2010 sellers will have more buyers to come trhu their doors now rather than after April 30th. In fact, this means closer till March 30th, because the transaction must close on or before April 30th (I need to verify this!). Here is a current graph pulled from MLS to show you FOR SALE (in red) vs SOLD (in green) properties in Corinth, TX per month since December 2007.

10 Ways to Prepare for Homeownership

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

5 Common First-Time Home Buyer Mistake

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

2. They don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right agent who’s willing to help them through the homebuying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

Enjoy this Home, for sale in Corinth, TX: Pool, One Story, NO HOA, $166,900

Corinth Tx Home for Sale!

Enjoy sun sets, relax at the pool, no stairs to climb, easy maintenance floors, lots of light in the kitchen and living, elegant and open floor plan design. Ready to move in! Denton ISD, Guyer, Crownover and Hawk. Schools are minutes away! Call Leeza Morris today!

FIrst Time Home Buyer Tax Credit Report: NO REPAIMENT

$8,000 Tax Credit for First time Home Buyers

If you are a first home buyer (have not owned a home in the last 3 years) act now to benefit from $8,000 Tax Credit available for home purchases before December 1, 2009.

Points to remember:

- you qualify if your income is $75,000 or less (single) $150,000 (married)
- you might qualify for partial credit if your income exceed the above amounts
- purchase must be made before December 1, 2009 (actual closing so you need to allow your self at least 45 days from the date of contract agreement pushing the date to November 15 - also remember holidays!)
- tax is 100% reduction in what taxpayer owes and not required to be returned in the future
- tax is supposed to be easy to file

FOR MORE INFO GO TO THIS LINK