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That description does sound like a red bud tree. The best time to prune them plant is in late winter, before it resumes its spring growth. The trees are not generally pruned a lot. When you do prune try to remove a branch back to where it joins another branch instead of just "stubbing" it off like the end of a broom handle. If you feel your tree is just way to big for the area it may be best to remove it and plant something smaller there. Otherwise you can do some annual pruning to maintain size or shape.
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