Home Buyer Tax Credit Extended For U.S. Military.

By Troy Corman, www.t2realestate.com

I think Memorial Day weekend is a great time to announce that the U.S. government home buyer tax refund has been extended through 2011 for qualifying members of the United States military. If anyone deserves an $8,000 tax credit, it's definitely these brave men and women who put their lives on the line to fight for our freedom.

To qualify, military personnel must have served at least 90 days (official extended duty) outside of the United States between December 31, 2008 and May 1, 2010. "Qualifying service members" eligible for the tax credit include members of the military, members of the Foreign Service of the U.S., and members of the intelligence departments.

A person who is forced to return to the U.S. prior to 90 days of service due to medical reasons also qualifies. To qualify for this extended military tax credit, an executed contract must be in place by April 30, 2011 and the transaction must close by June 30, 2011.

To honor the service men and women, t2 Real Estate is offering an additional  $1,000 closing cost credit so please tell your family members and friends in the military. And please remember what Memorial Day is really about.

30-Year Fixed Mortgage Rate Below 5% - But Experts Expect It To Rise.

Realtor.org Story Summarized By Troy Corman, t2realestate.com

The Greek and European debt crisis helped drive down mortgage rates in the U.S. In fact, rates are near record lows. But according to Stephen Stanley, chief economist for Pierpoint Securities LLC, an improving economy will force government leaders to raise interest rates.

Telltale signs continue to point to an improving economy. Both American Express and Target reported fewer credit delinquencies as Target reported it's lowest delinquency rate in 2 years, while American Express delinquencies declined 34% from last year.

As you can see from the chart above, rates are about as low as they've ever been. A 30-year mortgage for $250,000 at 5% equates to a monthly payment of $1,342 while a 6% rate results in a monthly payment of $1,498, or an additional  cost of $156 month. Over 30 years, that 1% mortgage rate increase results in an additional cost of $56,456 in interest payments.

Visit Homepath.com to shop Dallas-Fort Worth foreclosures and get special financing for both owner-occupants and investors.

Fannie Mae provides a search site for homes pre-qualified for their Homepath Mortgage and possible financing of the renovations for owner-occupants and real estate investors. Here are some of the highlights:

• Low interest rates for fixed-rate, adjustable-rate, and interest only loans.
• 3% down payment, and can be borrowed money.
• No appraisal fees.
• No mortgage insurance (higher rates).
• Companion Homestyle Renovation Mortgage product for investors.

Start searching Dallas-Fort Worth area foreclosures now at Homepath.com. Troy Corman, a Dallas realtor and investor, who has bought and rehabbed numerous Dallas foreclosures, can help you avoid mistakes.

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!