SEARCH HOMES FOR SALE

What's An M Street?

The M Street Area is a neighborhood in Dallas, Texas stretching between the Dallas Central Business District and White Rock Lake.

Ken's Market Area

While this website focuses on the M Streets, Ken's market area extends all the way from North Oak Cliff in the south to Richardson in the north.

Ken's Newsletter And Blog

Real estate news and market trends

Ken's Blog

M Street Architecture

I first became interested in M Street homes because of the charm of the architecture. If you can't tell the difference between a Craftsman and a Tudor, let me tell you about the architectural styles common to the area.

LETTERS FROM KEN'S CUSTOMERS

RESOURCES

It's a neighborhood with a history. Painting by Dahlia Woods.

Come Live The M-Street Lifestyle

Life is more exciting in the M-Streets, nestled in the shadow of Dallas' Central Business District. If you like to have things to do, people to meet, and places to go, you will like the M-Streets. With such a diverse range of people and housing and lifestyles, there's a niche available for everyone.

Share in the benefits of easy access to jobs in downtown Dallas, cultural venues in the Arts District, outdoor recreation at White Rock Lake, high-end couture and gourmet food at Victory Park, and exciting shops and eateries sprinkled throught the neighborhoods.

It's an exciting lifestyle that you can't find in the suburbs; it's a little more hip, a little more edgy, always reinventing itself.

See the Neighborhood Slide Shows for an introduction to the M-Street Lifestyle.

A Collaboration That Will Serve Your Best Interests

Home shopping in the M-streets is different from home shopping in the suburbs. You'll make a better deal for yourself by working with an agent who has specialized knowledge of this area—the kind of knowledge that is gained by living here, by renovating older homes, and by participating in the life of the community for many years.

You see, this is an area in flux. That's what makes it so exciting to live in this part of Dallas, but that's also what makes it challenging to shop for a home here. We have ten decades of homebuilding crammed between downtown Dallas and White Rock Lake. The condition of the homes, the degree of updating, and the list prices vary wildly from block to block.

During my years as a REALTOR®, selling hundreds of M-Street homes, I've taught myself how these homes are put together and how to judge their value. That's what makes me valuable to you.

If you are a smart and friendly person (or couple or family) who is ready to engage in a collaboration that will definitely serve your best interests, I'd like to do business with you. Give me a phone call or send me an email. We'll get started right away.

Not ready to start pounding the streets yet? Just curious about the neighborhood? That's fine. Bookmark this site. Use all its search features for as long as you like. Then get in touch with me when you are ready to go to the next level. I'm looking forward to meeting you.

Are You Ready To Accept My Help?

In the old days before I became an agent myself, I have to admit I was a bit wary of real estate agents. I suspected most real estate agents were high-pressure salesmen who would somehow coerce me or trick me into making a bid on a home I didn't really want. I figured it wasn't safe to confide in a REALTOR®, and it wasn't safe to let him influence my decisions.

When I went into the business myself, it was because of my love of the homes and the neighborhoods and my desire to share them with other people. Not because I wanted to learn how to use those fabled "high-pressure sales techniques."

I've been a real estate agent now for more than 20 years. I've interacted with thousands of home buyers, and some of them start out with the same suspicious attitude I had all those years ago. They are reluctant to accept my help because they are not ready to trust me or to confide in me. I guess that's just human nature.

Meanwhile I continue to preview the inventory in my neighborhoods. I keep up to date on the mortgage market. I keep on honing my negotiating skills. Because I know I will team up with twenty or thirty buyers each year who will appreciate the value of allowing me to help them. I want to give them the best assistance possible. It is the relationships I form with them that keep me in the real estate business.

MY PLEDGE OF SERVICE TO THE HOME BUYER

I WILL be easy to contact and I will respond quickly to your phone calls, emails, and text messages.

I WILL supply you with all the information and support you need to make a well-informed decision.

I WILL share with you everything I’ve learned about homes and the homebuying process in 20-plus years as a REALTOR.

I WILL provide a thorough analysis of home sales data for the neighborhood when you are preparing to bid on a home.

I WILL make all listings available to you on an equal basis, without giving preference to homes that happen to be listed with RE/MAX.

I WILL always remember this is your home search, not mine.

I WILL be patient and respectful of your viewpoint, but will let you know when I think you are making a mistake.

I WILL give you time to consider your alternatives, and will not press you to choose a home quickly just so I can move on to other buyers.

I WILL treat you with the same respect without regard to your position in society or the size of your pocketbook.

I WILL negotiate vigorously and effectively to get you the best price and terms for the house you choose.

FHA Lending Changes Are Coming

The folks at FHA have been discussing alternatives for tightening lending standards. Last week they announced their plans.

I think we can all agree it is a shame to tighten lending standards for a program that supplied the loans for 50% of all first-time homebuyers in 2009. But as more FHA-insured loans have gone into default the FHA capital reserve fund has fallen below the 2% ratio mandated by Congress. This raises the possibility that FHA might have difficulty meeting its obligations if loan defaults continue to accelerate.

As it turns out, thank goodness, the proposed changes are not as draconian as many people feared they would be.

The FHA up-front Mortgage Insurance Premium (MIP) will be raised in the spring from the present rate of 1.75% of the loan amount to 2.5% of the loan amount. As an example, the MIP for a $200,000 loan will be increased from $3,500 to $5,000. This change can be implemented quickly without any review or public comment period.

Other planned changes require a public comment period before they can be put into effect. They will be implemented in the summer. These include a reduction in the allowable seller concession and a change in the down payment required from buyers with lower credit ratings.

The reduction in allowable seller concession is a big one. Under present rules a seller can contribute 6% to the buyer's costs. But that amount will be cut in half. Under the new rules a seller will only be able to contribute 3%. On a $200,000 home purchase a seller can now pay $12,000 of a buyer's closing costs and prepaid expenses (such as tax escrow and insurance bills). As a practical matter this is often enough to cover all costs beyond the buyer's down payment. Under the new rules this would be reduced to $6,000. Still helpful, but buyers will definitely be forced to bring more money to the table.

The final change involves down payments. FHA proposes to require borrowers to make 10% down payments if their credit scores are below 580. This is quite a change from the 3.5% presently required. But it may not have much immediate practical effect. For some time now, mortgage lenders have been refusing to loan money to prospective borrowers who have credit scores below 620.

Were you planning to buy a house using an FHA loan this year? Factor these changes into your plans. You may want to speed up your home search just a little bit in order to get in under the old rules.