Hope you get a chance to enjoy this holiday as the summer of 2008 winds to a close.
We had the privilege of spending a recent afternoon on Lake Lewisville aboard The Chamonix catamran with Boy Scout Troop 730 from St. Mark's School. What a great group of boys and parents and what a fantastic and relaxing way to say good-bye to summer. [where: 75230]Aug 31, 2008
Aug 30, 2008
Sarah Palin's Home
Check out the home of the current Alaska Governor and 2008 Republican Vice Presidential candidate. Looks like a nice place on Lucile Lake within walking distance to the local Best Western Inn.
. .Their lake front property isn't too bad for a public servant, her fisherman husband Todd and their kids. As you can see, you can land your plane on the lake and pull right up to the house. While the average home prices in Wasilla, Alaska aren't the highest in the country, they do range from a one-room $18,000 cabin to a 8,400 sq ft lodge with acreage for $2,350,000. A couple of her neighbors have homes for sale just in case the John McCains want to add to their vast collection of vacation homes.
Labels: real estate
Aug 29, 2008
Bad Real Estate Photos
Here are my choices for the worst real estate photos in our MLS this week.Take my advice - that toilet rug thrown over a chair doesn't enhance the image of your home.
Nothing says 'wow' like fresh vacuum marks.
The description of this property actually calls it 'clean'.
Comes complete with in-laws.
There's something wrong with this photo, but I just can't put my finger on it. Or maybe they already did.
Labels: bad photos, Dallas, real estate, Realtors, sellers
Aug 27, 2008
Living In Denial
It's True. Most homeowners around the country are in denial. According to the recent Q2 Homeowner Confidence Survey conducted by Zillow, 62% of US homeowners believe their home's value has increased or stayed the same in the past year. In reality, 77% of US homes have declined in value over the past 12 months.
People in the west and south have shown to be a little more realistic about current property values. Locally, we haven't seen declines as steep as the rest of the country, but I'd venture a bet that most Dallas homeowners believe their home's value has increased over the past year as well. And I think we've got plenty of reason to be so optimistic.
Zillow also released their local Dallas results on Tuesday showing the change in values in and around Dallas. Results range from down 4% around Farmers Branch to up 2% around Carrollton (two areas right next to each other). Zillow gets their 'zestimate' from many sources including tax appraisal. So I guess my success in getting my taxes lowered, lowered our values? Don't count on it. The true indicator of housing prices are actual sales. And the local market can be very different from the national market. While our prices aren't skyrocketing, they aren't in a nose dive either. Living in Dallas is still a lot better than living in Denial. [where: 75230]
Labels: Dallas, North Dallas, real estate, Realtors, sellers, statistics
Aug 26, 2008
Homes Sales Up
Labels: buyers, real estate, Realtors, sellers, statistics
Aug 25, 2008
Better Mortgage News
Bonds are rallying on fears of the financial sector and the overall health of the economy. Stocks are down over 200 points.
Look for some good mortgage rates tomorrow.[where: 75230]
Labels: buyers, Dallas, mortgage rates, real estate
Mortgage Crisis Update
If you don't think the mortgage mess is affecting real estate ...
“Problems in credit markets are not over and they are still a threat to the economy. Mandating tighter lending standards might help the safety and soundness of a particular institution; however, excessively conservative lending policies could prove counterproductive if they contribute to a weaker economic and credit environment.”
Labels: buyers, mortgage rates, real estate, Realtors, sellers
Aug 23, 2008
Olympics Judges = Appraisers in Disguise
Aug 21, 2008
Bad Real Estate Photos to increase
Good News, Bad News.
Aug 20, 2008
Staying Positive
Sure, the market isn't great. But people are still buying and selling homes all over Dallas. And I'm helping them.When things are tough, I seek to avoid getting sucked down into the pit of gloom & doom with all the folks who wallow in it. I focus on the positive every day. Giving me a boost is my favorite cheerleader Richard Flint with his Morning Minute. Here is his thought for today:
"Do you feel colorful today?
When clouds cover your day, can you still see the sunshine?
Are you a person who lets the events of their day control their attitude? Or are you a person who sees the event and smiles in spite of it.
I believe on the worst day you will ever live, good things are still happening. You just choose which one you are going to see."
Have a colorful day.
Aug 18, 2008
What sellers expect from their agent in a tough market
In a challenging market, sellers expect and deserve a lot from their Realtor. In return, sellers need to be involved and participate in the selling process. I've found that if a seller is not connected to the process, they will not do what is needed to prepare the home for the showing process.
Sellers expect three things from me and most of what I do falls under these categories.
- Integrity. An agent must be honest and forthright with their clients not matter what the question. This can be tough, but shading the facts doesn't help anyone.
- Action. Sellers need an agent that can talk the talk and walk the walk. Sure, marketing styles and techniques are as varied as the number of agents. Hopefully, each agent has a method that works for them. No one method is best for every situation ...but there is a best method for each situation .... that is the one that works!
- Results. This is the bottom line. I don't earn a commission, regardless of the marketing dollars spent, if the property does not sell. Successful sales are how make a living.
Most sellers know I am in business but they do not have a clue what it costs to run my business or sell their home. Advertising is not cheap. Marketing is not cheap. Add on education, licenses, car, overhead, ... I pay for all of these with the commission earned from each sale.
In a tough market, sellers can expect me to do everything possible to get their home sold. That's the bottom line.
[where: 75230]
Labels: agents, Dallas, Preston Hollow, real estate, Realtors, sellers
Aug 17, 2008
New Rural Inspection Requirements
Effective September 1, 2008 - a new rural inspection program begins in Texas. The Texas Residential Construction Commission will require all home builders and remodelers in unincorporated areas (or in cities that do not offer municipal inspections) to have their sites inspected at least three times during construction. The mandatory reviews include a foundation inspection before concrete is poured, a framing and mechanical systems assessment before wallboard is installed and a final sign-off after the entire job is done. Finally, a new requirement that is neccessary and helpful to the consumer. Every home should go through mandatory inspections during and after construction. For details, visit the TRCC website .
Labels: buyers, Dallas, North Dallas, real estate, Realtors
Aug 15, 2008
Aug 14, 2008
Bad Real Estate Photos for August
Despite today's digital cameras, bad real estate photos continue to represent homes for sale in Dallas. Below are this week's worst. Just to clarity - I did not take these photos. God help me if I did. These are taken from homes listed for sale in the Dallas area. The MLS system allows up to 10 photos of each property for sale and most agent like to showcase the best features of a home with good photos. Except for with these poor properties -
Wow, wood floors. Maybe the agent accidentally hit the button while the camera was around his neck
. . I'm blinded. But at least this guy hid behind his flash so we couldn't guess his identity. .
Find the light switch. PLEASE
.
Easiest way to empty the tub. Just turn it on its side.
You go first.
[where: 75230]
Labels: bad photos, Dallas, Photos, real estate, Realtors, sellers
Aug 12, 2008
Olympic Schedule
Take a break from the internet & blogs and go cheer for our Olympic teams. Just move your rear from the computer to the TV (no athletic ability required). Below is a schedule courtesy of my friends at Hexter Fair Title. [where: 75230]
Aug 10, 2008
Least & Most Expensive Homes Dallas
The least expensive home currently on the market in Dallas is this place on Anderson Street in need of TLC. It is bank owned, built in 1924, measures 784 sq feet, features 2 bedrooms/1bath and is and listed for $5,500. Nothing here a bulldozer can't fix.
On the other end of the spectrum is the most expensive home on the market in Dallas ...
Restaurateur Phil Romono's estate on Strait Lane. For $17,500,000 you get an 8 bedroom/11bath home measuring 14,748 sq feet on 4.7 acres with a lake, fountains, waterfalls, a jogging trail, tennis court and pool. It includes a study and 2 offices for all the work you'll be doing to keep it up.
Labels: Dallas, Photos, Preston Hollow, real estate, sellers
Aug 8, 2008
Mortgage Update
Due to huge losses, Fannie Mae will continue to make changes to slow its financial hemorrhaging. As Fannie and Freddie join mortgage companies passing their losses to consumers, it looks like loans will continue to be more difficult and more expensive to obtain.The Dow jumped to 11,734
The 10-year bond yield dropped below 4%
Oil plummeted to $115
and
The dollar rallied to 5-month high!
Rates as of today:
Conforming to $417,000
30 Year 6.500%
15 Year 6.000%
3/1 ARM 5.875%
Jumbo above $417,000:
30 year 7.625%
15 year 7.000%
3/1 ARM 6.125%
5/1 ARM 6.625%
Labels: buyers, mortgage rates, real estate, statistics
Thank me for the rain
I'll take credit for today's cool front and rain. We're hosting a band camp pool party for the Jesuit Ursuline Band this afternoon. What better way to bring on the showers that to invite 80 teenagers over to your house? I'm not sure how we'll get them all in our house if it's still raining, but at least we're getting some rain!
[where: 75230]
Labels: Dallas, North Dallas
Aug 7, 2008
How is our Market?
This is a question that I get daily and I'm glad to address it. As of last week, Dallas prices are up, with the median single family home sales price at $246,596 and a median price per square foot at about $116 . The average property has been on the market for about 121 days and it is still considered to be a buyer's market. There are about 5,589 properties for sale in Dallas.
The experts at Altos Research provide great statistics if you know how to decipher them. Basically, they report that nationally things are on the upswing. Almost without exception, the up markets are the nice parts of town. The down markets are the cheapest parts of town.
They are right on the money when they point out that the people with access to funds can, for the first time in years, buy in the best neighborhoods without a lot of competition. Mortgages are still cheap, if you can get one. While at the lower end, no one can get financing, and those with the foolish mortgages are now selling or foreclosing. The disasters start at the bottom.
The buyers that I'm working with now are getting into the properties they want at a price they like with excellent financing terms. It's a great time to buy.
[where: 75230]
Labels: buyers, Dallas, North Dallas, Preston Hollow, real estate, Realtors, statistics
Aug 6, 2008
Great Business Tip
Honesty is the cornerstone of all success,without which confidence and ability to performshall cease to exist.
Aug 5, 2008
Hot Real Estate
I'm back! Back and hitting the hot Dallas pavement in our hot real estate market. The real players in the real estate game are buying properties. I had a couple of properties go into escrow while on vacation (thank you Sheri Pizitz) and things are as busy as a Sunday afternoon in May.
Doesn't seem like the Texas heat is slowing anyone down.[where: 75230]
Labels: Dallas, Preston Hollow, real estate
Aug 2, 2008
Granite Counter Scare
I'm still on vacation and not up on the latest news. But I couldn't help hearing the ridiculous story about potential cancer-causing granite counters. That's as stupid as the past rumor about underwire bras causing breast cancer. We're in Maine and we're surrounded by granite everything - fireplaces, house foundations, steps, street curbs, bridges, terraces, ... Here in Winter Harbor, most of the coastline is granite. If granite caused cancer, there would be no one left in the state. I'd worry more about the quality of your air than the health effects of granite countertops.
Labels: decorating, home improvement, real estate
Aug 1, 2008
Maine Real Estate
Labels: Photos, real estate