Two New Programs to Help TX First Time Homebuyers!

Texas homebuyers who qualify for the federal first-time buyer tax credit have two new programs from the Texas Department of Housing and Community Affairs that enable them to turn that credit into cash for a downpayment.

• The 90-Day Down Payment Assistance Program enables buyers to receive 5% of the first-lien mortgage amount up to $7,000 for downpayment or closing costs as a 90-day no-interest loan.
• The Mortgage Advantage Program works in conjunction with the 2009 Texas Mortgage Credit Program and the Texas First Time Homebuyer Program. Eligible buyers could receive 5% of the first lien mortgage amount up to $6,000 for downpayment or closing costs as a 120-day no-interest loan.

Both programs require buyers be eligible for the federal first-time buyer credit, complete homebuyer education, and file an amended 2008 federal tax return. Funds are available on a first-come, first-served basis for qualifying purchases made before Dec. 1, 2009. For more information and full details about both TDHCA's programs click here!

Still looking for a 100% Financing loan? You might consider the USDA!

Yes, you read that right, the United States Department of Agriculture is offering government insured loans in "rural areas" with 100% financing, that you can obtain through a mortgage broker. A rural area is classified as an area with a population below a certain number based on the 2000 census. In the DFW area, those areas include Hickory Creek and Lake Dallas along with other small towns scattered across the metroplex. The home must be located in a town or city with between 10,000 to 25,000 residents or open country and places with a population of less than 10,000. There are loan limitations and income restrictions, but this is something definitely worth looking into! You may be surprised.

Contact us today for a referral to a lender that handles USDA loans. Click here to search for homes in Hickory Creek or homes in Lake Dallas.

Sprouts has just opened in Coppell!

Coppell I believe is the winner for best groceries stores in the DFW area within a 5 mile radius. They already have a Whole Foods in close proximity to Costco and now a Sprouts Grocery just opened last week! It is located at the intersection of Sandy Lake and Denton Tap. They are even having a demonstration on Thursday, June 11th titled "Fantastic Foods for Glowing Skin" at 7 PM!

If you want to live in a community with great groceries stores like Sprouts, visit our website to view homes in Coppell, Texas!

E.P. Rayzor Elementary in Lantana now rated as Exemplary!

I have a special spot in my heart for this school, as my son goes there. EP Rayzor has been working really hard to get bumped up from Recognized to Exemplary status and with this years TAKS scores they made it! Congratulations Wolves!

If you would like to see homes listed in Lantana, Texas you can visit our website!

Dallas Ranks in Top 5 Cities Where Americans are Relocating

According to Forbes Magazine, Dallas ranks as the number 5 city that Americans are relocating to stating that "These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability."

Click here to read the article

To find homes in the Dallas area visit our site!

Texas Senate Passes Bill to Help Landowners

Published : Monday, 04 May 2009, 7:47 PM CDT

• Associated Press

AUSTIN, Texas - The Texas Senate voted Monday to expand the rights of property owners who face having their land taken by the government.

The bill by Sen. Craig Estes, a Wichita Falls Republican, would limit eminent domain land takings to projects for public use only and would require governments to make a "bona fide" offer for the property before condemnation.

A property owner would be entitled to be paid for any loss of market value if the taking impairs their access to the land they still have. Any land taking would also have to be done by a record vote in a public meeting.

"Private property and the right to profit from it is fundamental to not only our economic liberty, but also our personal liberty," Estes said.

Gov. Rick Perry vetoed in 2007 an eminent domain bill that addressed diminished access. Perry, a Republican, is now pushing a constitutional amendment to safeguard landowners' rights.
Perry said the bill has "essential" safeguards to "shield landowners from abuses of eminent domain for generations to come."

The Senate bill requires property owners be given an initial offer for the land in writing, and prohibits governments from requiring confidentiality agreements. And if a court rules the government did not make a bona fide offer, it could order the government to make another offer and to pay the landowners' legal fees.

Governments would also have to tell the landowner that he or she and their heirs may someday be able to repurchase the land for the price paid to acquire it. That option would kick in if the public project for the land is canceled or no progress has been made in 10 years after the condemnation.

The bill passed the Senate 31-0 and now goes to the House.

Land condemnation has been a key issue for farmers and ranchers and the Texas and Southwestern Cattle Raisers Association said it supports the Senate bill.

While population growth may require some land and water takings in the future, it "shouldn't be at the expense of property owners," said Dave Scott, president of the cattle raisers group.

The bill passed Monday "levels the playing field for property owners," Scott said.
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The eminent domain bill is SB18.

Introducing the BW Home Team Real Estate Brokerage!

You may have noticed a long hiatus from my blogging lately. This is due to the extreme amount of workload I have taken on since December. However, I am now proud to announce that the BW Home Team has evolved into its own brokerage! We are currently 5 agents strong and serving the DFW area and plan to grow and expand in pace with the business we can generate. Each of our agents has had years of experience and were personally selected by me for their experience, communication skills, negotiation skills, and their dedication to clients. If you haven't tried the BW Home Team before, give us a shot! We want to make your real estate experience as stress free and enjoyable as possible!

New information on the $8K Tax Credit for First Time Homebuyers

More information has come out on the up to $8K tax credit for first time homebuyers, which would be 10% of the sale price on a home purchased, up to $8K. This is an actual credit, not an interest free loan like the original $7500 tax credit and you can claim it on either your 2008 or 2009 taxes. For more details read this article from cnnmoney.com.