Save Thousands when selling your DFW Home! Watch the video for details.

The DFW Real Estate Market has taken off with a bang in 2012! VIP Realty Platinum is searching for several agents to service it burgeoning client base. VIP has more Leads than they have agents to service them. Watch the video and see how VIP Realty Platinum can help you make 2012 a Boom year in your real estate business!

If you live in the Dallas, Fort Worth Metroplex you already know that both Plano and Highland Park are highly desirable communities.  Both communities are known for their tree lined streets, beautiful parks, high ranking public school systems and ample shopping and dining.  Plano ranked # 1 as America’s richest city with a population of 250,000 or more.  Plano real estate values remain strong and there is easy access to major commuter routes and as more and more companies build or move their corporate headquarter to Plano it’s residents have shorter and shorter commute times.

Highland Park Homes

Highland Park homes are situate in a more established community located only four miles from Downtown Dallas.  These homes, in general, are custom and larger than homes found in Plano.  The average price of a single family home in Highland Park exceeds a million dollars and are comprised of the highest valued homes in North Texas.  To live in either Plano or Highland Park is a privilege for those who are fortunate enough to live in one of these communities.

As the 2011 Dallas real estate market begins to heat up and knowing that the DFW Real Estate market is one of the strongest real estate markets in the country you may be considering flipping property for a profit.  This is especially true if you were a flipper in the past and you have been sitting on the sidelines for the past few years.  There are plenty of Dallas foreclosures, short sales and motivated sellers who need to get rid of their properties but just because they need to sell these properties does that mean it is a good idea to get back into the flipping market?

Flipping Dallas Real Estate

According to Broker, Investor, Harry Ridge now is a great time to get into, or back into, the flipping market.  The caveat being that you must educate yourself on all aspects of the business from finding truly undervalued properties, obtaining cash or financing for the purchase, repairs, carrying cost, and selling cost to knowing what types of repairs and upgrades to make to a property to make it more valuable to finding the right contractors to do the work and to do it at the right price.  Ridge goes on to say that we are in a hyper local real estate market and you must do your due diligence to find the right properties in the right areas.  Just one mistake in any of these areas could mark the end of your flipping business.

For those of us who live in the DFW Metroplex area we know that Plano is located just North of Dallas.  Many of us also know that these days real estate markets are hyper local with the values of homes in one neighborhood substantially different than homes in an immediate adjacent neighborhood.  Knowing this, do Dallas Foreclosures have an effect on Plano Real Estate? First of all I don’t want to give the impression that Dallas is a debilitated city full of foreclosed properties because nothing is further from the truth.  There are dozens and dozens of sought after neighborhoods in Dallas where real estate values are strong and getting even stronger.  New construction and the revitalization of the down town area are proof that Dallas is on the cusp of a population boom.

With all of that said there is still a ton of pre-foreclosures, foreclosures and short sales throughout the Metroplex that will have a negative effect on real estate prices in both Dallas and Plano.  The City of Plano has had a resilient home market in spite of some of the Dallas neighborhoods we discussed and certain areas around the Metroplex where the distressed property market is high and property values are going from low to lower.  It all comes back to what I said earlier about real estate markets being hyper local, meaning that Dallas foreclosures will not have a negative effect on Plano real estate values.

VIP Realty Platinum and Dallas Real Estate Broker, Harry Ridge, along with several sponsors and volunteers,  staged a blowout Third Annual Thanksgiving Brigade!  On Thanksgiving eve, 11 volunteers produced 80 care packages for the unfortunate homeless in Dallas.  This is almost a 100% increase from last year’s Brigade.  The care packages included two full meals and several personal items such as tooth brushes, hand sanitizers, lotion, flashlights etc.  This years care packages also included undershirts, socks, hats and gloves.  The Brigade even gave out more than 40 jackets and coats just before the winter weather was set to move in.

The Brigade team worked diligently to prepare the meals and put together the care packages.  Late afternoon, volunteers in a delivery van full of care packages and coats went into the streets of Dallas.  It didn’t take long for them to empty their van and in doing so they met many grateful people who were in desperate need of the things many of us take for granted.  I will go as far to say, there was love between the Brigade Volunteers and the people they met and served this day.

Each care package contained a note:

Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit. Edison failed 10,000 times before he made the electric light. Do not be discouraged if you fail a few times.
- Napoleon Hill

The most memorable experience for most of the volunteers is when they came across two young girls, one, maybe 16 or 17 years old and the other 4 or 5 years old.  The older girl was deaf and could not communicate very well.  The volenteers gave both of them a coat.  When the youngest girl received her coat she was smiling, laughing and jumping all around. it was as though she had be given a pony.   Our experiences and feelings will not soon be forgotten they will motivate us to do more and give more.

Sponsors and Volunteers

Mary & Mike - Whitney & Michael  - Andrea A

Barbara T. - Samantha L. - Lisa Y.  - Susan K. - Regina S.

Chris & Edith Aslam and their Father.

Corporate Sponsors

Hosse Financial  -  National Lottery - Jack in the Box

Allison Garner / Farmers

VIP Realty - VIP Realty Platinum

In loving memory of Phyllis Ridge and Wayne Harris.

Broker-Owner Franchiser Richard Soto envisions VIP Realty offices across the nation and is working diligently on his expansion plans even as more and more real estate brokerage firms are closing their doors due to the weak housing market with no end in the foreseeable future.  Soto understands that people are still buying and selling real estate and that he has the technology, tools, and experience to become one of the fastest growing real estate brokerage firms in the nation.

Broker-Owner Franchisee Harry Ridge will begin expanding into three East Coast Markets in the Spring of 2012.  Ridge and Soto will open offices;  VIP Realty Washington DC, VIP Realty Maryland and VIP Realty Virgina. VIP Realty’s Seller Clients will appreciate the technology and the aggressiveness of their VIP agents that will help them sell their homes for the highest price in the shortest amount of time.   VIP Realty’s Buyer Clients  will appreciated their professional agent’s knowledge of the local markets and their aggressiveness to get them the best value on the perfect home for them.  These are exciting times for the VIP Realty Franchise and the VIP Realty Family.

Plano Real Estate

While markets continue to struggle in many areas of the country due to the continual downward pressure on home values from foreclosures and short sales Plano real estate values remain strong.  According to Trulia the year-over-year median listing price has increased a whopping 28.5% with an average listing price of $353,941.  Sales prices have appreciated 17.5% over the last five years in Plano.  Popular neighborhoods in Plano include: Carriage Hill, Willow Bend, Kimberlea, Hunters Ridge, Spring Creek Pkwy Estates, and Parkway Estates.

The strength of the Plano real estate market can be attributed to many factors including: job and small business growth, exemplary schools, community amenities and a well run city government.  Now is a great time to buy a home in Plano as prices in the foreseeable future should remain strong and continue to appreciate.  With interest rates at historical lows there may never be a better opportunity to own Plano real estate.

The government has been promising that they will loosen the credit markets to make it easier for people to obtain financing to purchase a home.  All we have seen however is a continual tightening of the credit markets.  A few years ago a would-be home purchaser had to have a minimum credit score of 580 to qualify for an FHA insured mortgage.  Today that same home purchaser needs a 640 credit score, has to put more money down and pay a higher mortgage insurance premium to boot.  If you don’t meet all of these lending standards you probably won’t be buying a home anytime soon, or will you?  Does this mean that if you want to buy a home and you don’t meet all of these financing criteria that you can’t buy a home?

Fortunately, there are Dallas home sellers who either want or need to see their homes via owner financing.  A homeowner who has little or no equity in their home and does not have or want to bring money to closing to sell their home can still sell their home buy acting as the mortgage company.  What do I mean?  A buyer will pay a down payment to, and make monthly payments to, the seller.  The benefit to the seller is that they can get their home sold and move on.  The benefit to the buyers is that they can buy a home without going through the stringent qualifications of a mortgage companies lending standards.  Can owner financing be use with home sales?  It can be used for most home sales but not all, Dallas foreclosures, for example will not qualify for owner financing.

As with any Dallas real estate transaction there is risk with an owner financed transaction.  From a seller’s perspective, they will have to foreclose if the buyers stops making mortgage payments to them.  From a buyer’s perspective, they may lose their home even if they make on time payments to the sellers because the sellers may not make their underlying mortgage payments.

There are different types of owner financing and different methods for each type of owner financing that will protect both the buyers and the sellers.  If you are interested in an owner financed transaction with from a buyers perspective or a sellers perspective find am experienced Dallas Realtor to guide you through the process.

Dallas Mavs

We all know that the Dallas Mavericks are in the finals!  The Mavs and the Heat will go at it tonight in American Airlines Center in Dallas.  Will the fact that the Mavericks are playing in the finals have an effect on the Dallas Real Estate market?  What if the Mavs become this years champions?  Of course not but it will shed a positive light on our beautiful city and the types of people and fans that live here.  The Dallas area is known for its presence of business who have their corporate headquarters here and for being one of the best areas in the country for strong job growth.  This area is also known for great school, abundant shopping, restaurants and entertainment.  Well run City and State Governments,  friendly people and nice weather are another bonus.  Even with all of these benefits and amenities Dallas real estate is still a great value.  Regardless If the Mavericks win or loose if you live in Dallas or its surround areas you are a winner.  Go Mavs!