Home Buyers Got Half of What They Wanted in August 2019
The Collin County Association of Realtors (CCAR) reports that as interest rates continued to drop in August 2019, homes sales continues to rise—creating a good news/bad news situation for buyers. The bad news: Limited inventory for buyers. August 2019 had 8.5% more listings under contract and 13.1% more projected closed sales than August 2018. Yet,…
Some Markets Red Hot in Q2
The CCAR Pulse, which delves into the real estate markets of 37 local communities, continues to show a healthy housing market with increased profitability and stabilizing inventory. However, Collin County’s localization of increased activity has resulted in some segments experiencing a red hot market, while other segments have begun to stabilize. A market trend that…
TREC Contract Changes to 40-8 and 49-1 Requires Adjustments to Lender/REALTOR® Workflow
By Dawn Ferreiro – Supreme Lending, NMLS #514152 and member of CCAR REALTOR®/Lender Committee TREC made several changes to the 1-4 Residential Single Family Contract in November of 2018. This article specifically addresses changes made to the “Third Party Financing Addendum (40-8)” article 2, paragraph B as well as the addition of the “Addendum Concerning…
Warning: Data Breaches Can (and Will) Happen to You
Warning: Data breaches can (and will) happen to you. However, there are steps you can take to reduce your risk of being hacked. “The last thing agents want to do is notify their buyers and sellers that they were victims of a data breach. Too many agents think a data breach will never happen to…
What is FIRPTA?
By Diane Donley, Republic Title North Coit, Member of CCAR’s Affiliate Committee FIRPTA (The Foreign Investment In Real Property Tax Act of 1980) is a tax law that may impose a tax on certain defined “foreign persons” selling U.S. real estate. It is important to determine as early in the transaction as possible if this…
CCAR Plano Headquarters will Become a Pet Paradise September 7
Tails are wagging and excitement is building as the 2nd Annual Pet Expo nears, and it’s easy to see why when you look at the vendor list. On Saturday, September 7, from 10 a.m.-2 p.m. the CCAR Plano Headquarter’s parking lot will be transformed into a pet’s paradise. No pet? No Problem! Pet adoptions from…
A Favorable County Paired with Favorable Lending Promotes Homes Sales in July 2019
PLANO, Texas — The Collin County Association of Realtors (CCAR) reports that, despite June 2019’s fizzle, home sellers listed their homes and found amicable buyers at an increasing rate in July 2019. July 2019 had 1.6% more new listings, 6.2% more listings under contract, and a 16.5% increase in projected closed sales compared to the…
How Low Can You Go? The Lowest Down Payment Required for a Conventional Loan
By Wendell Cox, Creative Credit Solutions, Member of CCAR’s REALTOR®/Lender Committee What is the lowest percentage of down payment possible on a conventional loan? If you responded “20%” – you are with the majority. You are also incorrect. The lowest down payment on a conventional loan is 3% with Fannie Mae’s HomeReady Conventional Purchase loan…
On August 8, Your Fellow VIP CCAR Members Will be Locked Up at Cell Block: CCAR
We all know Texas REALTORS® will do crazy things to support TREPAC… Exhibit A …and CCAR members are no different. On August 8, your fellow VIP CCAR members are being Locked Up at Cell Block: CCAR, and can’t leave until you help them post their bail via a TREPAC investment. Your investment can be made now and…
Are You a Revenue and Expense Type Person?
*Updated Oct. 9, 2019 to reflect positions currently accepting applications. If so, apply before October 16 to serve on the CCAR Budget and Finance Committee for a term of Jan. 1, 2020-Dec. 31, 2021. The mission of the Budget and Finance Committee is to oversee the financial functions of the Association and recommend to the…