Danny's Real Estate Blog - Danny Force's Blog

Danny's Real Estate Blog - Danny Force's Blog Close
Page Summary

All Blog Entries by Danny Force

Danny has called North Texas home since the early 90’s, and having knowledge of communities all around the metroplex allows him to help clients make informed decisions. He grew up in Southlake and graduated from Carroll High School in 2002, and was a part of two State Champion ice hockey teams. Danny continued on to play collegiate hockey at the University of Oklahoma, earning a bachelors degree in journalism. He also spent time playing for the Under-25 United States National Hockey Team in 2007, and a couple of seasons in the minor professional leagues. Upon retiring from hockey, Danny earned a masters degree from the University of Southern Mississippi in sports management in 2013.

Danny makes it a point of his business to focus on helping first time buyers and sellers fully understand the process.

There are currently 53 blog entries published by Danny Force.

Yes, I know we live in a society which has to have everything immediately or it takes too long. Amazon has built a business around same day shipping, most cable providers have On-Demand movies, and our smart phones have access to literally everything at anytime. So it must come as bit of a shock to you when I say 'you cannot get approved for a mortgage in 8 minutes'. But it has to be wrong, right? I mean there's companies on TV who say that's possible. Why would they say that if it's not true? Here's why.

To preface this, I need to remind you there's a great difference between being pre-qualified and pre-approved for mortgages. As previously explained, getting approved for a mortgage takes paperwork and is much stronger when going and making offers on

3,942 Views, 0 Comments.

One of the biggest changes to come out of the financial meltdown/housing market crash of 2008/2009 was in the mortgage industry. The way mortgages are given, mortgage lender salaries, and several other things were changed dramatically. The Dodd-Frank regulations implemented by the government have made it impossible to see that level of crash in the housing market again. One of the biggest regulations has to do with fund sourcing.

The sourcing of money actually became about after the 9/11 attacks, as banks didn't want to have 'dirty money' used to fund housing in the US. The same goes for drug money, and so on. During the housing boom, lenders and banks didn't really care where the funds came from to close, so long as they were in your account before

8,146 Views, 0 Comments.

On more than occasion in 2017 I had a potential buyer tell me they thought the mortgage lenders to whom I had referred them were wrong. They made way too much money to only be approved for the price home the lenders qualified them. The lenders simply had to be wrong, and the buyers were going to explore other lenders to see what they had to say. This is the best reason to be approved before shopping for a home. I get it. We live in a 'I have the money, I should be able to spend it' society. But mortgages aren't like everyday purchases, or even cars for that matter. Let see explain why.

'My Friend Makes The Same Amount, and She Could Buy Much More House'

This is a very common complaint. Let me say this bluntly: Mortgage Lenders are not lying to you.

7,621 Views, 0 Comments.

The Seller's Disclosure Notice is an essential part of a real estate transaction. In short, it's the condition of the home to the best of the sellers knowledge, which is signed not only by the sellers, but the buyers as well. It is to be provided to the buyer either before a contract is signed (provided on the MLS to be downloaded), or provided after the agreed upon number of days in the contract. It's best to have it provided up front, and here's why. Let's take a look at the wording first.

This part falls under Paragraph 7B, the property condition section. You'll notice there's 6 lines of wording if you haven't given the buyer the Notice up front. What does it mean? In general terms, you're giving the buyer 7 days to back out of the contract

3,794 Views, 0 Comments.

There's no fewer than a half dozen shows on television right now about flipping houses. Seminars pop up all over the country hosted and put on by these reality stars about how to do this, sometimes with 'other peoples money'. Well, it's not that simple. Television is notorious for showing only the glamorous sides, but not the realities. Take Flip or Flop for example. How many of these have they ever shown where the flippers lost money? Maybe one or two in all the seasons? That's not reality. A cash buying flip company admitted to our office in a meeting earlier this year they lose money on approximately 24% of their flips. So there's a few things you need to know about investing in real estate if it's something you are looking into.

Finding Flips is

1,780 Views, 0 Comments.

This statement is a common point of contention among buyers who haven't bought a home since the 2008 housing market crash. If you've seen the movie The Big Short, it's actually pretty accurate to how it was back then. Mortgage brokers could get paid by what kind of loan they sold, borrowers weren't being asked for income proof (hence why the exotic dancer could have five homes and a condo), and there was really no form of control on the industry. All this has changed since then, and in big ways.

Mortgage Documentation

This is the most relevant change since the crash, and one which mort people are not accustomed to. There used to be something called NINJA Loans, which stood for 'No Income No Job or Assets'. People could just walk into a bank and ask

1,449 Views, 0 Comments.

Every now and then I get questions I legally am not allowed to answer concerning a home, usually because of Fair Housing Laws. They usually relate to how good the schools are, whether crime is high in the area, or other things which could land me in a lot of trouble for my opinions. Death is a different story.

Disclosing a death on a property can be tricky. For starters, a seller may not actually know. If a home is a flip, and the flipper bought it at auction or out of foreclosure, there would be no seller disclosure for them to find out if there had been one or not. Secondly, it really depends on how someone dies as to whether or not it had to actually be disclosed. Straight from the Texas Property Code:

Chapter 5.008(c): 'A seller or seller's

751 Views, 0 Comments.

I can't tell you how often it happens where I have to break the bad news to someone: something they saw on TV or the internet just isn't real. I know, real shocker. But just like the clickbait articles you see online, banks and online home search websites are just misleading and often leave consumers feeling had. I'm going to share with you here a few things to be aware of if you do decide to peruse the internet for your real estate advice, which you shouldn't be doing anyways.

Mortgage Rates

Every time I walk into my bank, I see their mortgage rate advertising on the screens behind the tellers. It looks a little something like this:

While this is all fine and dandy, this doesn't tell the whole story. Banks are quick to show the lowest rates

344 Views, 0 Comments.

We all know storms are as unpredictable here in North Texas as a Cowboys football season. Tornadoes, hail, even the occasional earthquake can happen at a moments notice. So what happens if something happens to the house you're buying before you close on it? Enter the Casualty Loss paragraph of the contract.

What does this mean in layman terms? Basically, if the house you're buying is damaged or destroyed by fire before you close on it, you're not obligated to still buy it if the home is not restored to its previous condition before the closing date. Now if it's not restored due to a situation beyond the sellers control (such as insurance companies falling behind during a tornado outbreak, fire destroying the property, etc.), the buyer has a few

737 Views, 0 Comments.

Each type of mortgage is different. Not only are they different in the down payment amount, but also different in the Mortgage Insurance Premiums, credit score requirements, and how appraisers do their jobs. They also have different maximums you're allowed to borrow. Since these numbers change every year, here's what's allowed in 2017. Keep in mind this is the amount borrowed, not necessarily the contract price.


Collin County, Dallas County, Denton County, Parker County, Tarrant County - $362,250
Cooke County - $275,665

Conventional and VA



Anything over $424,100

Remember, these are the basic loans. There's different standards for rehab loans, USDA (based on income), doctor/lawyer/professional loans, etc. Your

498 Views, 0 Comments.