So you purchase a home for $200,000, let's say, and the appraisal comes in at $200,000 after analyzing current market sales data, but the appraisal district only has it at $100,000. Are you going to call the appraisal district and ask them to raise your value so that you can pay higher taxes? Of course not.
Licensed Mortgage Loan Officer
100% Home Loans ALL Over Texas!... more
Hi Mike, I can recommend a mortgage broker that I have personally used based in College Station. They aren't local to you, but they've done good work for me and can get the loan taken care of for you. Feel free to go to my website (the link is below) and contact me via email. i can send you the information.
American Capital... more
Preston Hollow is a neat area.
300-400K will be on the very low end of the neighborhood in Preston Hollow and Bluffview,
but there are likely some possible homes.
Remember this is the area where you find folks like Don Henley, George Bush, Mark Cuban,
Roger Staubach, and Mike Modano.
You can check school rankings in a couple of different places.
Preston Hollow Elementary
Ben Franklin Middle
Probably the best concentration of trendy bars and restaurants are at Preston/NW Hwy, but it depends on what you like.
Mexican, Mexican Seafood are good finds the other way on NW Hwy....Korean up and down Harry Hines.
There are grocery stores...Tom Thumb on NW Hwy, Simon David on Inwood....others around Whole Foods in Highland Park.
Crime....well you want to check the FBI states or with the local CRO...at the Dallas PD.
It's a big city ....there is crime.... while the area itself is nice, there are less nice areas all around it.
As the DPD told me after my home had been burglarized for the 3rd time, you live in a nice neighborhood. That's why the bad guys come here, to take all the good stuff you have.
In my opinion the pros of living here are typically location...depending on where you work.
Older homes, bigger lots, lots of trees, less of the cookie cutter feel. Desirable area for lots of people
and lots of people with big money and old money or the feel of old money.
Negatives are probably pricing, schools, airport noise, less kids and potential kids activities than some new areas.
Here is a link to some area homes:
Keller Williams Realty... more
Simply put, Leasing a house is like Renting, but you agree to lease the house for a specified period of time like 1 year or 6 months. If you break the lease agreement and move out sooner, you would not get your deposit returned to you. Leasing is NOT buying.... more
I used to live in that area.
Chances are you will need to pay cash.
I don't think we can get financing at that level.
If you can pay cash and send me you email address I can send you a list of properties for sale.
Keller Williams Realty... more
The approximate two-square mile area lying north of Northwest Highway, south of Walnut Hill Lane, east of Midway Road and west of Preston Road remain the essential original boundaries of Preston Hollow, which is often now termed "Old Preston Hollow."
The boundaries of Preston Hollow as defined by the schools the children attend is land to the north of Northwest Highway (Loop 12), south of Forest Lane, east of Midway Road and west of North Central Expressway (US 75).
Hope that helps,
If I were you, I'd look at my buying options first. Have you spoken to a loan officer yet to find out what your options are? There are many programs out there that may benefit you. If you want to talk to a loan officer, a good one to know is Scott Drescher with Prime Lending, http://www.drescherteam.com/default.asp/PrimeLending/
Buying a home definately has its advantages over renting. After one year of renting at $900, you'll throw away $10,800 that could've gone towards an investment in a home. Also, there are many tax benefits to owning a home.
I'd be happy to set up a search for you that will notify you when properties that may be of interest to you become available on the market. Or, visit my site www.JenniferLewisHomes.com and click on the property search link and set up your own search.
Please let me know if I can help.
Realtor, Broker-Owner, GRI
Jennifer Lewis Homes
FYI, backing to the tollway isn't all that bad. Actually folks from California liken it to the sound of the ocean. You might as well use it as a selling point! Regarding the pricing, we need to know the age and sq. ft. of the property. Also, on a 1-10 scale, 10 being immaculate, what would you rate your place?... more
In my personal opinion, I dont think you would be running much risk to go ahead with your plan, now if you were taking a three bedroom and cutting it down to a two, that is a different story. But in my experience with Preston Hollow, I dont think what your going to do will affect the resale negatively. What you will want to do is calculate how much you are willing to spend in renovations in relation to what you will or will not get back when you decide someday to sell.... more
Marie, There is unfotunately no specific formula that you can use as a rule of thumb on how much you can deduct when making an offer. It always is on a case-by-case basis. Preston Hollow is still one of the highly desirable areas of Dallas. I would recommend having a market analysis done (this is a mini-appraisal) usually done by your Realtor or if you don't have one, I will be happy to prepare one.
This market analysis is based on the condition, the amenities the house offers or lacks, the location within Preston Hollow etc. Once we know what the house is worth, then you decide how much it's worth to you and make an offer accordingly.