Understanding Your Real Estate Contract

More than one of us have gotten a contract or agreement and flipped to the last page to quickly sign and date it.  When it comes to signing contracts related to real estate, mortgage, leases, Homeowners Associations, etc be sure you know what you are signing. 

The fine print of all of these contracts will point out day to day issues and how they are addressed. If you park on the street without a proper permit, you will be towed. Or if you  move out earlier than the end of your lease, you will have fines and penalties. Before flipping to the back page, take the time to read each section of the contract. Know what you are signing. 

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

1134 Sophia - 3 Bed, 2.5 Bath in Top Rated Allen ISD! - $1650

3 Bedroom town home in sought after West Allen. Master, Utility, half bath and Kitchen down. 2 split bedrooms, full bath and a game room up.

Just in time to move in before school starts as unit is ready now.

You will get full access to Award Winning Twin Creeks Amenities including pool, tennis court, sand volleyball, hike and bike, swan lake and much more.


Exemplary rated schools, close to Plano, Frisco, Hwy 121 and I-75

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Allen ISD: New Student Registration

The 2010-2011 school year is fast approaching. If your child is new to a district or changing schools, be sure to contact your school district administration for paperwork and deadlines.  Here are the links to Collin County School Districts:

Allen ISD

Frisco ISD 

Lovejoy ISD 

McKinney ISD 

Plano ISD 

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Refinancing Your Home Mortgage: A Smart Choice?

Now, when mortgage rates are at record lows, refinancing gives hope of lower monthly payments. But, its a different scenario from years ago, when you received cash back.  Instead, you may have to pay cash upfront when you refinance if your loan-to-value ratio is greater than 80%- most lenders will require you to pay private mortgage insurance.

Before you sign a contract to refinance, sit down with a calculator to determine whether the savings from a cash-in refinancing are worth the cost. The most important issues:

•How long you plan to be in your home. With a conventional refinancing, you will generally cover your costs in a few months.  But with cash-in refinancing, it could take much longer. You should be looking at spending the next 5 years in your home to reap the rewards of refinancing.

•Where you'll get the money. If you have money in a bank account earning 1% or less, you could earn a better return by buying down your mortgage rate. But the ability to pay down your mortgage is key. You shouldn't spend your entire savings to lower your mortgage principal.

Remember, refinancing to buy down your mortgage comes with potential risks.  If the value of your home declines and you have to sell, you could lose the full amount you spent to buy down your mortgage.

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Texas Home Buyer Series, Part IV: Choosing a Home Warranty

Once you have an accepted offer on a house, there are several reports to order: an appraisal and termite inspection are the big two.  Beyond that you should decide if you would like to get a home warranty.  The purpose of a home warranty plan is to protect yourself against unexpected costs related certain appliances or home systems breaking down.

Depending on the plan, home warranty plans can cover air conditioners, washer, dryer, dishwasher, refrigerator, etc.  Every plan is different, and you should be sure to read the fine print of each one you consider. Some plans will cover any and all damage done to a water heater, while others will only cover damage if it was from normal wear and tear. 

Home warranty plans are good coverage for unexpected issues. If you do not want to have to worry about paying thousands of dollars for a broken air conditioner out of the blue, a home warranty may be the route for you.

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Texas Home Buyer Series, Part III: Shopping for a Home

After you have chosen a location and know how much house you can afford, the fun part starts- shopping for your home.  Nearly 85% of people begin their home search online, to get an idea of what is available and of houses want to tour. 

Your real estate agent can search the MLS- Multiple Listing Service, for all houses listed in your area, that are listed by an agent or broker. Also, one real estate agent can show you all the homes listed on MLS, it is not necessary for you to contact each individual listing agent to set up a showing.  Your agent is your go to contact to view houses, assist with contracts and help get you to closing. 

When you start the search, know what you style home you are looking for:

• Do you want a fixer upper?
• Do you want a brand new home or previously owned home?
• Is a condo, duplex, or town home an option? 

Once you know what you are looking for, the home search process will include: viewing several different homes, comparing them, possible second showings of your favorite house, writing up an offer and signing final contracts once an offer is accepted. 

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Texas Home Buyer Series, Part I: Location!

For most people buying a house is a once or twice in a lifetime experience.  This leaves many unanswered questions and lots of confusion.  This week, each day we will cover a different area of the home buying process.  From choosing a location to choosing a title company and understanding home warranties-each step is important and best for you to know what to expect.

Location, Location, Location.

When you first set out to buy a house there are a number of key elements to get in order at the very start.  You must choose an agent you feel comfortable with and that will work for you and your goals, obtain a mortgage loan approval, and finally decide on a location to begin your search.

Deciding on what type of house you want is vital - 3 bedroom, garage, fenced back yard, no pool, etc. Even more important is knowing where you want to live.  Location, location, location. If you find the home of your dreams with all of your must haves and most of your want to haves, it will make little difference if every morning you wake up to a train rushing past your bedroom window or if you are unsatisfied with the schools your children are zoned to.

Choose a city, neighborhood (or 2 or 3), or school districts you would feel happy and safe living in first. Then proceed to find your dream house.  It will save you a lot of frustration and heart ache in the search.

Until next time, Best Wishes!

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

FHA Raises Minimum Requirements

The Department of Housing and Urban Development has tightened its minimum standards, now requiring borrowers to have scores of at least 500 to qualify for FHA-insured loans. Until now there has not been a required a minimum score.

However, the practical impact of this move will be extremely limited since less than 1% of approved borrowers in the first quarter of 2010 were below 580; most loans went to borrowers with scores above 620.

"It really is just conforming FHA standards to what FHA lenders have already been doing," said Michael Fratantoni, vice president of research and economics for the Mortgage Bankers Association.

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Texas Counties with Most Job Growth

Collin County ranked 7th on a top 25 list from CNN Money of counties in the United States with steady job growth over 2000-2009. Other counties in Texas included:

#2 Williamson County

#3 Hays County

#5 Fort Bend County

#6 Webb County

#7 Collin County

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Tips to Keep Your Dog From Digging Out

If you keep your dog in a fenced in backyard, chances are that he’ll try to dig his way to freedom. Dogs often dig under a gate, since there’s has a gap under it to allow the gate to swing open.
To prevent your dog from digging under a gate:

• Cut a pressure treated 4” x 4” landscape timber so it fits tightly between the gate posts.
• Dig a trench across the gate opening as deep as the thickness of the timber.
• Position the timber in the gate opening so there is just a small gap between the timber and bottom of the gate.
• Secure the timber in place by toenailing galvanized nails or screws through each end of the timber into the gate posts.
• Backfill the trench with dirt so the ground is level.

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Free Outdoor Yoga Class at Watter's Creek

A rare occurrence in Texas, Allen Yoga Center will hold free outdoor yoga classes once a month for anyone who wants to come out.  

Watter's Creek, with more than 500 trees and water views, provides an inviting backdrop for the one-hour yoga sessions.Here are all the details:

•  Who: Allen Yoga Center
• Where: Watters Creek at Montgomery Farm - Bethany and 75
• When: 1st Saturday of Every Month through October 1st, 8am-9am
• Cost: Free

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

First Time Homebuyer Tax Credit Extension!

First time homebuyers that have been stressing about closing by the June 30th deadline can rest easy now.


The deadline has been extended for buyers until Sept 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the original terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.

The bill only allows people who already have signed contracts to finish at the later date.

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

Happy Independence Day!

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773

4th Of July Events In Collin County

July 3, 2010: 

Plano Community Band Patriotic Concert - Plano

Freedom Fest - Frisco

July 4, 2010

Red, White & Boom 4th of July Celebration - McKinney

Plano All American 4th Celebration Fireworks - Plano

Little Elm July Jubilee - Little Elm

Janus Real Estate Group    *    Heather Anderson     *    972-765-3773