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Frisco, TX Real Estate News

By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
Every once a while, I get some emails about how to begin a journey in Real Estate. Honestly, I dont know why I get them. But everytime I do, I do my best to help tell my story from my point of view. Here's some pointers to share (through my own story): I started the real estate journey with no intentions of making an income, much less making this into a full-time endevour. My dear husband and I wanted to purchase rental properties and after seeing so many houses, the agents really do expect us to put in offers. Since we are very conservative financial people, hence you might know, we were even slower to make the offer. I'm an engineer (in my past life) so the numbers MUST work! I became an agent soon after that - only with intentions to service our own portfolio. Right around the same t...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
I'm a huge advocate of encouraging friends and family to make our homes a true blessing. Hence, my thoughts and my blogs will reflect that. More than anything, my family do our best to live by it. There are some very simple guidelines to follow when purchasing a house to call HOME. However, be prepared that these are not easy to achieve because we live in a society that feeds on "I want it NOW" attitude. 1. Be debt-free. This plan includes becoming debt-free of all store accounts, credit card debts, school loans, car loans, medical bills and any kinds of consumer debts. Only when we become debt-free, it relieves us from the vicious cycle of "minimum payments" and continuous fear of never-ending "emergencies". Credit cards are not our source of "emergency savior" - get out of that rutt, ...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
A consumer said this: (result of my poll) I was really disgusted at the obvious consumer mentality behind the cars both of the realtors I worked with drove - one a Lincoln, own a BMW. I thought it was disgusting, and I wasn't sure what they were trying to prove, except to go BuyOwner when we sell, because obviously they make too much commission.                 The general public do think that real estate agents do make alot of money. Again, we (the real estate people) understand the perceived image of success. Hence, our fancy car, nice suits and definitely big hair-do.   There are more into "real work" to become a resourceful agent. It's definitely more than opening a few doors on a Saturday afternoon and sticking a For Sale sign on a Sunday afternoon. While there are a few who puts i...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
The Law of Murphy in Homeownership Your home is truly a blessing to you only when you are ready for it. That means having no consumer debts (credit cards, auto loans, school loans, etc.) and you have 3 - 6 months worth of living expenses saved. Murphy's Law states that "things will go wrong in any given situation, if you give them a chance". Muprhy will move into your spare bedroom because life happens whether you own your home or not. If you have your budget planned too "positively" with no margins to spare, things break down, cars break down and people get sick. If you had paid off your consumer debts, now you have extras to pad life with when you do not need to make those minimum monthly payments. It is a choice to make today for a better, well-prepared tomorrow. Consider it very car...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
Back in Spring of 2004, we listed our first home in Frisco TX, we did it with much enthusiasm. I was relatively new in real estate then. With a few transactions under my belt including ALL SOLD listings, I was full of energy, ready to get my own real estate sold - and quick too! Showings were somewhat strong. So, I know buyers are looking in "my" price range. I tracked Buyers' agents after Buyers' agents that came through my property. All who gave feedback said that the property was great. But it just wasnt what their buyers were looking for. Yeah right!!!! It sat close to 6 months on the market and by this time, my pride and confidence were pretty much shattered. Our strategy had turned to sell or rent; whatever comes first. Oh boy, it was a tough lesson to digest. What I learnt from l...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
  Panther Creek Estates is located in north Frisco, bordered by Hillcrest to Independence (from West to East) and Eldorado Parkway to Panther Creek (from South to East). Prior to becoming one of the most-sought after Frisco community, Panther Creek was originally farm land when first settles arrived more than 150 years ago. As you enter the community, you are greeted by picturesque landscape: from two great refreshing ponds to lushy meadow grasses and wildflowers throughout the different seasons. Residents enjoy two parks (Bob White and Mourning Dove) maintained by the City of Frisco. The third park will be a light facility - yet to be constructed. In addition, there are many hike and bike trails that meanders through the community. There is a community pool, playgrounds, family picnic ...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
Heritage Lakes in Frisco, TX Located in southwest Frisco, Heritage Lakes is a gated community with resort-style amenities. This community offers a 24-hour guard access for added security. Residents can enjoy a variety of outdoor activities in the clubhouse area. These activities include water sports, fishing, hike and bike. The Homeowners Association also plays an active role in organizing fun activities for homeowners. Builders that help developed Heritage Lakes include Ashton Woods, Lennar Homes, US Homes and Village Homes. Driving Directions: At North Texas Tollway and Lebanon. Head west (left) on Lebanon Road past Legacy Drive. Keep left. Heritage Lakes is on your left. Turn into Village Blvd. and check in with the guard house.Recently Sold Home Data:                                ...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
                                                                                 I have called Frisco TX home since early 2000. I saw Frisco TX in its small town setting with its flat farm corn lands to now, sprouting growths of new commercial and residential developments. 30,000 residents called Frisco home back when I was a new resident and as of September 2006, over 90,000 people live in Frisco. Frisco is neighbored by Little Elm & The Colony on the west side, Plano & Allen on the south, McKinney on the east and Prosper & Celina on the north part of town. Frisco has about 69 square miles of land area - with lots of potential to house even more residents and businesses. The City of Frisco has done an outstanding job of creating a city filled with family-oriented activies. Frisco is ho...
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By David and Rachel Brown
(Open Mortgage)
  Dallas Morning News is reporting an Investigation into some questionable Townhome sales in Frisco, stating that investors were potentially selling the properties among themselves to inflate property values. 
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By Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator
(Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com)
Have you ever heard the term "Straw Buyer"?  I read about this for the first time today.  A straw buyer is someone who buys a property only on paper, straw.  Their name appears on the deed, but only as a cover up to the person who actually owns it.  Apparantly this was really big in the 80's, but it's making a comeback.In Frisco, in Collin County, which is the next county north of Dallas, there is a lot of interesting stuff going on, which some people are calling mortgage fraud.  You know all those emails you get from Nigerian people?  This is a Nigerian person who actually made it work.  People actually answered his cry for money.  He asked people to buy properties in their names and that he would be responsible for all the mortgage payments.  He also would then buy the properties back...
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