3 bed, 3.5 bath Downtown Dallas Rooftop Townhome - 3120 Carmel - 1st Month Free W 2 Year Lease

1st Month FREE with 2-year lease!
Location. Location. Location. This immaculate townhome is located literally a couple of minutes from downtown Dallas, the Baylor Medical Center, the new Dallas Arts District, and shopping and nightlife in Uptown.
This corner unit features extra windows for more natural light and better views. The rooftop deck overlooks neighboring Exall Park, which features a large greenbelt and trail for outdoor sun - and there's even a baseball and softball field backstop. 3120 Carmel is one of the few rooftop townhomes that has truly 360 degree unobstructed views of Dallas.

View more photos at t2realestate.com 

8,000' Garland Commercial Building For Sale - Owner Financing.

926 N 1st Street. Central Air conditioned/heat in 6,000' with two 10-ton Trane units. This industrial building built in 1985 features drop ceilings, tilt-walls and three overhead doors. The front area features three offices and a bathroom. 400 amp breaker box can handle almost any need. Underground electrical was updated approximately ten years ago. Also for lease at $3,900 monthly plus insurance. Owner-financing option for qualified buyers.

View details and photos at t2realestate.com

Call Troy Corman at 214.690.9682.

Banks Still Low-balling Appraisals And Hurting Themselves.

By Troy Corman, www.t2realestate.com

I'm putting in an offer for a buyer of a foreclosure home that is listed for $69,000. There have been only a couple of sales in the neighborhood (that were both foreclosures) in the last 2 years. As a result, my buyer's lender, Bank of America, comes back with a desktop appraisal of $77,000. This particular home, on the market for 9 days, has 22 offers on it. Do you really think it's only worth $77,000? A VERY similar home across the street is for sale for $119,000.

I don't know yet if Bank of America will do a more thorough appraisal if we win the bid, but I've heard stories of banks low-balling appraisals since they're drowning in bad loans. In essence, as Del Walmsley of Lifestyles Unlimited recently shared on his radio show, the banks are basically cutting off their nose to spite their face. By low-balling appraisals on new loans, they are making the property values of their existing loans in the same neighborhood worth less, which in turn makes their existing borrowers more susceptible to getting upside down - and creating even more foreclosures.

Again, 9 days on the market at $69K and the home has 22 offers. I think it's safe to say that Bank of America's appraisal of $77K is a hair off.

Todayshomedeals.com Has Launched!

We are proud to announce that todayshomedeals.com has launched. The site allows users to search the lowest price per square foot homes by areas or neighborhoods throughout the DFW metro. We'll be adding more areas and neighborhoods over the next few days.

It's FREE to use and you can create your own login and password to save your most recent searches and post to the forums. Check it out and thanks for visiting!

HUD Attempting To Derail Owner-Financed Home Sales.

By Troy Corman, t2realestate.com

Despite a slow economy and tightening of credit in business and home lending, the big hand of big government is proposing to destroy owner-financed home sales. It's amazing how out of touch bureaucrats are when it comes to the economy.

Today, American property owners can self-finance the sale of up to five homes a year without a mortgage originator license. The new proposal by HUD called the Safe Mortgage Act would allow owners to only sell a home that the seller actually occupies - otherwise, he or she would have to get a mortgage originator license.

If this act passes, it will essentially dismantle private market competition, while eliminating an entire segment of home buyers. This will surely put more downward price pressure on an already shaky housing recovery.

Many properties in need of extensive repair don't qualify for traditional mortgage financing from banks and lenders due to property condition or age. Also, some individuals have situations which prevent them from qualifying for a traditional mortgage. With tighter lending standards, a luke-warm economy, and a huge pipeline of foreclosures, I don't see how eliminating a huge segment of home buyers will help housing recover.

New Home Buyers - You Have 2.5 Months To Get $8,000.

By Troy Corman, t2realestate.com

The clock is ticking for first-time and move-up home buyers who want to take advantage of the free government money for qualified home purchasers. The original deadline of November 30, 2009 has been extended to April 30, 2010. That is the date home buyers must have an executed contract signed by all parties involved in the sales transaction. The next requirement is that the sale must be closed by June 30, 2010.

This could get dicey for procrastinators, as the big banks who have lobbied Washington to muscle out the independent mortgage industry, can sometimes take twice as long to get mortgage loans closed - especially when most of the deals will probably all occur during a six to eight week time frame. Also, lookey-loos and those that suffer paralysis by analysis will likely find attractive homes at attractive prices gone by the time they decide to make an offer.

As a reminder, income limits have been increased for this latest version of the government tax credit refund. Singles with modified adjusted gross incomes of up to $145,000 can qualify although phase-outs begin at $125,000. For couples filing jointly, the credit begins phasing out at $225,000 and modified adjusted gross incomes above $245,000 do not qualify.

Also, home owners who have lived in their current principal residence for 5 years can qualify for up to a $6,500 credit.

The credit:

* Applies only to homes used as a taxpayer's principal residence.
* Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
* Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

The credit is claimed using Form 5405, which you file with your original or amended tax return.

Many ask me if I think the refund credit will be extended. Honestly, I don't think so. With tax payers and tea party constituents exhausted with big government's continued waste of hard working American's tax payer dollars, I would be very surprised if the credit was extended into a 3rd act. Democrats and liberals are running for the exits from the Obama camp, and are likely to toot the horns of fiscal constraint to save their own political hides. That's why I would be very surprised if the tax refund will have the political support to continue beyond the April 30 executed contract deadline.

Stately Mansions Of Swiss Avenue Covered In Snow.

Photos by Troy Corman, t2realestate.com

A morning run to Benny's bagels on Skillman turned into an impromptu photo shoot. I love these classical estates on Swiss Avenue. They just don't make 'em like they used to. See the gallery on my facebook page.