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Rise of Home Values in Plano TX: Why It’s A Good Sign

Home Values in Plano TX had been increasing for the past few years. With a population of over 274,900, Plano has grown to be a promising place to live in. So for homeowners and homebuyers alike, it is a good sign to start enjoying property investments in the beautiful City of Plano.

The Rise of Home Values in Plano TX

Currently, the median home value in Plano is around $300,000 to $350,000. The home value had gone up to 12.3% over the past year while it is still expected to rise to 6.1% more within the next year. Interestingly, the median list price per square foot in Plano is around $130. This is higher than the Dallas-Fort Worth Metro price which averages to around $122. Thus, it only shows that growth will continue as more people are finding the City more appealing.

home values in Plano TX

Here is an example of a beautiful and newly renovated home in Plano TX listed at $389,000. It is a 4-bedroom, 3-bathroom home in a highly desired and quiet community of Pittman Creek Estates. It is built on a 0.31 acre of land with 2,948 sq. ft. of living area. This gorgeous family home is full of promising possibilities for you and your family.

(See more details of the listing HERE)

Great Local Government Support in Plano TX

Another good thing about living in the City of Plano is the strong support of the local government. Here are some of the programs aimed in improving the quality of living within the area:

A neighborhood planning program is set to enhance livelihood within the local communities.
Responsive programming and collaborative partnership is being practiced.
Home ownership is encouraged through the First Time Homebuyer program.
Housing Rehabilitation program is available for current homeowners who requires home repair.
Finally, the implementation of the Fair Housing Act and a Housing Discrimination Ordinance.

In summary, the good local government support and the beautifully laid out community guidelines added to the increasing home values in Plano TX. So, if you are searching for the best match home for you and your family, utilize the help of a professional Realtor to make a good deal for you. You will never regret being part of the Plano community.

Average Cost of Dallas Homes For Sale

Whether it’s your first or second time as a home buyer, you might still be nervous about making decisions in purchasing a property. Out of the many Dallas Homes For Sale, you need to get to know how to pin it down to the best choice for you and your family.

What do you look for in your ideal home?

Do you have kids or planning to have kids? If so, you need to consider having a house that would have enough rooms for you and your growing family. You’ll need to look into features that would be beneficial to your future family size. Such an example is having a patio, a swimming pool or just an enough family living space to make memories with.

A beautiful family home Dallas Homes For Sale such as this Hillcrest Road Dallas Home would be great to cater a single family size. A house with flexible floor plans such as this has great potential. It can adjust to your families varying interests and changes of priorities along time.

(See listing for more details of this single family home.)

How much would an average home cost?

Average Dallas Homes For Sale have gone up recently. However, actual cost varies with the house size, lot area and build features. Thus, you need to get hold of what you have listed as your must-haves in order to filter out your choices. Take into account what your budget can accommodate and look for a trustworthy real estate agent to assist you in making the best decision within your budget and goals. Only a professional real estate agent can give you sound advice for the best of your dollars worth.

Make the most of your home investment. Don’t be sidetracked by uncertainties in your selection. Contact a reputable Realtor in your area. Out of quite a number of Dallas Homes For Sale recently, surely there will be a beautiful piece of property waiting to be called your own.

How Does Your FICO Credit Score Impact Your Mortgage?

FICO Credit Score

FICO Score

Most people have heard the term FICO Credit Score, but what does it actually mean? Well, most are still confused as to what it actually is and how it would affect them when they try to obtain a mortgage. Here are a few guidelines on understanding FICO scores and how it can affect the amount of interest you pay on your loan.

What is a FICO Credit Score?

A FICO score is a credit grade of a borrower, based on credit history as reported to 3 separate credit reporting agencies. It is based on a number of factors, including the amount of credit a person has, payment history, late payments, judgments, loan defaults and other factors.

A mathematical formula developed by Fair Isaac Corporation is used to grade the credit risk the borrower represents. Scores range from 350 to 850. A score of 650 or better is considered good and a score above 750 is considered excellent.

Does a FICO Credit Score Affect a Mortgage Rate?

Mortgage interest rates are calculated in part, on the amount of risk the borrower represents. Thus, the higher the risk the borrower presents, the higher the interest rate the lender must charge to account for the risk. With FICO scores, the lower the score means a higher risk, and thus, less favorable mortgage terms. As a result, those with low FICO scores may have difficulty finding a mortgage.

Is a FICO Credit Score Permanent?

No. A credit score will change depending on the borrower’s credit history. Therefore, a borrower with a lower score can increase it over time by taking certain steps to improve it.

Should one decide to improve his/her credit score, first step would be to obtain a credit report. Then, it should be reviewed for accuracy and any incorrect entries must be reported. Outstanding judgments, if there are any, should be paid. And finally, paying down revolving credit card debt must also be considered as this also can help in your credit repair strategy.

For more detailed information, please contact your lender or loan officer.