Lydia Player's Q&A

The best investment really depends. Are you looking for raw land? Are you looking for an investment property to lease for a few years? How much do you have to invest and how long are you willing to hold it?Generallly, the Preston Hollow area is a better location and the land will hold its value and/or increase at a higher rate. That said, areas north of 635 (like Northwood Hills) offer some excellent buys right now with a lot of upside potential.You need to consider the location within the area as well. Investing in a new construction home on a busy corner (like Preston Road) would not be as good as a fixer-upper on a golf courses north of LBJ. Values in Preston Hollow vary a great deal and they always have. Many people routinely refer to areas of North Dallas as Preston Hollow when they are not. Lot sizes are a big determining factor in Preston Hollow pricing and you should work with a Realtor who really knows the area. Throw out a few street names and see if the agent knows where they are. This will tell you how well the agent knows the housing inventory in the area.www.PrestonHollowDirt.com

A licensed inspector or a structural engineer can give you an idea about the foundation. If the house is a pier & beam foundation, they will crawl under the space to inspect. Unless you are able to contact the builder (who has a warranty), you have no other way of knowing.

Do a google or yahoo search using your county name and followed by "country appraisal district". You can look up the information by address. Don't rely on tax appraisal information to give you an accurate market value.Good Luck.

There is a place on the property page that allows you to report or flag the property. You should do this immediately and report the agent to your local MLS. A Realtor could loose their license (and/or be fined) for representing that they have a listing to sell a property when they do not. Good Luck.

I'm not sure who has placed this value on your property. If it is zillow, don't worry about that. The 'zestimate' is typicallly inacurate. If it is the Dallas Central Appraisal District, then be thankful you are paying less tax that you could be.If you are trying to sell your home, then you need a competent Realtor to give you a comparative market analysis of your property or you should hire a professional appraiser.

Yes, the seller can consider other offers and negotiate and accept a back up contract. The sellers agent may not disclose anything in the other offer without the seller's permission. Perhaps the other offer is higher - or maybe they're just bluffing.Either way, you are the only party the position to make the purchasing decision at this point (while you are in the option period). If you don't like the terms, walk away. If you want the house, you may have to forget about the $2300 in repairs.

Jay is right on the money and I'm not sure where 'spec tater' is coming from. A professional Realtor is ethically and legally obligated to represent the best interests of their client. I never disclose information about my clients without their permission and can't imagine disclosing any of their 'cards' so to place someone else's best interest above theirs. I've also never seen another agent on the other side of a transaction offer up compromising information about their client just to get the deal down.Usually, buyers should have their own agent to solely represent their best interests - especially if they don't hold complete trust with the selling agent. Working as an independent intermediary between the two parties can be a touchy situation when there is an existing relationship between the agent and the seller.Would you walk into court and ask the other side's attorney to represent you both? If it was a straight legal transaction, then probably so. But if there was a lot of negotiation involved - maybe not.

Check dallascad.orgIf you can't find up to date information there, you can call one of the numbers they list.

Check to see if the property is actually for sale. Just because you see it in zillow, doesn't mean that it is available. Check a site like realtor.com that has every home listed in MLS (the multiple listing service that all realtors use).The 'zestimate' for a property is usally based on the square footage and not on the property's condition.  Zillow bases their 'zestimates' on several factors - not all of which are accurate. For example, they sometimes use a radius search for similar homes. So a home on a busy major road located a half mile from a home on a quiet cul de sac would follow the same price/value considerations. It has been reported that the 'zestimates' are only within 10% of the true value of the home less than half the time.For a true estimate of a home's value, contact a Realtor or an appraiser.

The quick answer: No you won't qualify for the tax credit. This is for first time home buyers who are purchasing a property within a limited time period.