May 31, 2008

Happy Realtor

Happiness does not come from doing easy work
but from the afterglow of satisfaction that comes
after the achievement of a difficult task that demanded our best.
Theodore Isaac Rubin
[where: 75230]

May 29, 2008

What-Were-They-Thinking Real Estate Photos

From your local real estate agents ...

. Ever wanted one of those statues of a little boy peeing into a pond? Well here he is in real life!





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. Enjoy camping in the comfort of your own home.





 
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Great location. The neighbors even have a mini-van to help you move.
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The 1,000 watt light bulb home.
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Strange artwork? Unique hardware? No. I think its actually a ceiling fan! [where: 75230]

May 28, 2008

Falling Headlines, Rising Prices

The Dallas Business Journal reports "Major U.S. metropolitan area home prices fell in March by the most ever, with Dallas home prices down 3.3 percent in March from a year ago, according to a national survey of home prices by Standard & Poor's."

The Dallas Morning News reports the same tumbling prices.
But before you get worked up, take a closer look at the "plummeting" prices. The March decline (across the entire metroplex) represents a $16,000 drop on a $500,000 property. Not good, but not panic worthy.
And the good news - Here are the April 2008 numbers for our area for single family residence sales (from North Texas Real Estate Information Systems).

Comparisons from April 2007:

  • Number of sales: Down across the board
  • Average Days on Market: Up across the board
  • Prices: Up most places!

Here are a few price figures:

N. Dallas (south of LBJ): up 10%

N. Dallas (north of LBJ): up 3%

Plano: up 4%

Carrollton/Farmers Branch: up 6%

Northeast Dallas: up 2%

Park Cities: up 8%

So what does this mean?

When you read the gloom & doom of our real estate market, remember that prices aren't plunging, diving, waning or tumbling. Despite all the headlines about foreclosures, the other 99% of the housing market is doing OK.

Don't panic, because the sky isn't falling in on Dallas ... and look for some different headlines when these April numbers hit the press.

May 27, 2008

Unique Wall Art

Forget the cutesy murals, I love wall art that is unique and easy. You can put it up like wallpaper or stickers. And they are usually removable with little effort. How cool are these 'Love Birds' by Funktion Alley? Several other sites like Blik, Sparkability and Prestochango offer lots of fun ideas. The hard part is deciding which to choose. [where: 75230]

Tax Protest Deadline Approaching

The deadline to protest your property tax appraisal is quickly approaching. Mail in the protest form attached to your appraisal notice by the May 31 deadline. Do not miss this deadline. There are no extensions. Protests must be written. Electronic protest filing is not accepted. Include your property address, nature of your protest (i.e. market value) and any other supportive information. A hearing will be scheduled in June or July. [where: 75230]

May 26, 2008

Memorial Day

I hope you'll take time today to remember the brave men and women who have given their lives for our country. I pause to honor my relatives who have not only defended our nation on battlefields, at sea and in the air, but also my ancestors who fought in the American Revolution to help create this country. Enjoy the day off and celebrate your freedom.

May 25, 2008

Most & Least Expensive Homes For Sale in Dallas

For my fellow houseaholics, here are a couple of interesting homes. Currently the most expensive home for sale in Dallas is ...

... this 9,945 sq ft estate at 4412 Lakeside Drive in Highland Park. It is offered for $14,995,000 and is sitted on a 108 x 210 piece of expensive dirt. This home includes 4 bedrooms, 7 baths, 4 living areas and a wine room for starters.

There are also, of course, a handful of more expensive estates available for sale that are not listed in the Multiple Listing Service. You have to know people to find out about those. Fortunately, I know people.

Meanwhile, the least expensive home currently for sale in Dallas is ...

... this 1,269 sq ft home at 5141 Bourquin. Offered for $1,000 (yes one thousand dollars) on a 62 x 100 lot. DART bus goes by every few minutes and those fake flowers next to the fence represent the traditional marker where someone lost their life. The agents writes: "Don't call just send offer! Squatters are living in the home! Don't show property unless your prepared for confratiation. Do not show home after the sun is down."

So there you have it. Both ends of the spectrum - and a whole lot in between. [where: 75230]

May 24, 2008

Modern Education

The illiterate
of the 21st century
will not be those who
cannot read and write,
but those who
cannot learn, unlearn,
and relearn.
Alvin Toffler

May 22, 2008

Dreadful Real Estate Photos

Another week and another batch of bad photos of homes for sale. When you only get 10 photos to show off the best of your property - they should entice the buyers to want to visit. How do you think these stack up?
Hey Mr. Realtor. We know where you left your keys. And that pink slip on the fridge is for you.
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One look at this master bathroom and I am NOT purring.
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A hose in the living room? You got some 'splaining to do.
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At least we know the dog is getting fed. Is this really the best shot you could get of this room?







Whatever is growing behind that tub ... looks like it could reach out and grab you. Unlike this photo, which doesn't grab me at all.



[where: 75230]

May 19, 2008

Congratulations Cristina!

Last night my friend and client Cristina Eustace won the Latin American version of American Idol, Objectivo Fama. We've been rooting (and voting) for her for the past few months as she has progressed through the competition. And while we knew she was the most talented, we weren't sure she would bring in the millions of votes it takes to win this competition.

We are so proud of our deserving and talented Dallas friend!

[where: 75230]

Decide to be Happy

Happiness takes up space.
You have to make room
in your life for it.
[where: 75230]

May 17, 2008

Wealthy See Real Estate Opportunities Now

Wealthy consumers are viewing the 'down market' in real estate as a great opportunity for investment. American's Express' "Annual Survey of Affluence and Wealth in America," by The Harrison Group, reports this good news for those of us who work in the luxury market.
The survey reports that 40% of those earning $500,000+ annually plan to purchase ahome in the next year and believe that real estate is a 'real opportunity' right now.
Of those earning $100,000+ annually, 79% believe that the U.S. is in a recession, but 88% believe that property values will rebound. This group looks to capitalize on real estate opporunities as well.

The Institute for Luxury Home Marketing reports:

"This desire to purchase is consistent with Merrill Lynch and CapGemini's research showing that the world's very wealthy have been shifting more of their money into residential real estate. Last years' "World Wealth Report" showed that money millionaires (those with a million or more in investable asssets) had 12% of their total investment portfolios in residential real estate. For this group, purchasing another residence may be as much an investment portfolio strategy as a recreation/lifestyle decision. In any case, it bodes well for the luxury real estate market."

[where: 75230]

May 15, 2008

More Awful Real Estate Photos

This week's worst photos of homes for sale in the Dallas area:


 Please come look at our house. We're waiting.

(unwritten law in real estate: people and animals should never be in property photos)




So tell me. What room is this?
a. Living Room
b. Den
c. Dining Room
d. Even the agent doesn't know.




How hard would it have been to just open the glass door before you took this photo?







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So, I walked into this smoke-filled room ...




 
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This house must really suck ... since it comes with 2 vacuum cleaners.

May 14, 2008

Big City Crime

Yes, we live in the big city and crime is always a problem. But most folks in Preston Hollow just don't expect it. This story of a Preston Hollow front porch shooting has been circulating for a couple of days and finally makes the news.

In my neighborhood of Preston Hollow, we have a private police patrol and members of the homeowners association get the cell number for the patrolling officer. Since our association is run by volunteers, the annual cost of this service is very low - only $300 a year. What a deal.

People should always be safety conscience, but I'll admit that I would have opened my door to a stranger, too. And by the way, this incident occurred outside of my immediate neighborhood (where there is no private patrol). The crime in our area of private patrol is incredibly low and the response time of our police patrol can be measured in seconds. I think the thugs know it too. This victim should buy a home in my neighborhood.
[where: 75230]

May 12, 2008

The 'Experts' Report

Its enough to make the most savvy agent go nuts! Reports from 2 very respected Real Estate sources this past week:

On May 6th, The Wall Street Journal ran opinion pieces with the headlines "Is Housing Slump at Bottom?" by Brett Arends "The Housing Crisis Is Over" by Cyril Moulle-Bertaux. They explain how the combination of falling housing prices and lower mortgage rates have made homes affordable again - thus signaling a revival of the real estate market. They speculate that April 2008 was the bottom of the housing market.
Based on what I'm hearing from local buyers and knowledgeable investors, they agree and are looking to invest in Dallas real estate now. They know that once the market turns upward, its a little too late to look for the great deals that are then gone.
But then on May 9th, Steve Brown of the Dallas Morning News tells us "Don't look for a rebound in the U.S. housing market this summer. Economists and housing industry leaders meeting in Dallas this week predict it will be very late 2008 or into 2009 before the battered home market begins to recover."

So get out your crystal ball and take a stab at it.

I just know that its Monday ... so back to work!

[where: 75230]

May 11, 2008

Good Advice

Maybe a good rule in life
is never become too important
to do your own laundry.
Barry Sanders

May 10, 2008

Barnett Shale T.V.Documentary

Tune in at 5:00 today to Channel 8 (WFAA) to find out more about the huge impact the Barnett Shale is having on north Texas. 83,000 jobs were created last year in N. Texas due to the discovery of this emormous natural gas find in our region; the largest in the U.S.A.
One of my favorite attorneys, David Fair of Hexter-Fair Title will be featured and advises on how to protect your mineral rights.
[where: 75230]

May 8, 2008

This week's Bad Real Estate Photos

Courtesy some North Texas agents (who just must be busier than I am):
Welcome to Cell Block 9.
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Are there nuclear power plants in Dallas? Looks like you could glow in the dark after a dip in this pool.
 



Plenty of room for a large entertainment system. Just like the one here.







Warning: Mailbox located close to street and driveway.








Listed for $1.7 million - wife, kids and car included?


 [where: 75230]

May 7, 2008

North Dallas Economy Myth

To think that the new economy is over
is like somebody in London in 1830
saying the entire industrial revolution is over
because some textile manufacturers
in Manchester went broke.
Alvin Toffler
American Business Writer & Futurist
[where: 75230]

May 5, 2008

World's Most Expensive Home - with a little Dallas connection

The world’s largest and most expensive home (valued at about $2billion) will be completed in January 2009. And it isn't even in Texas.
The 27-story skyscraper in Mumbai, India, will be the residence of Mukesh and Nita Ambani. Mr. Ambani is the head of petrochemical company Reliance Industries and is the fifth richest man in the world. The couple have three children and currently reside in a 22-story tower that the family spent years remodeling to suit them. The custom designing of the property is being handled with architecture firms Perkins + Will and Hirsch Bedner Assoc., based in Dallas and Los Angeles.
Called Antilla, the Ambani home will be 550 feet high, have 400,000 square feet of interior space, nine elevators, a ballroom and a section for security guards and assistants. There will also be an ice room with man-made snow flurries where residents and guests can escape the Mumbai heat. (I guess global warming isn't an issue for these folks.)
The residence will cost more than a hotel or high-rise of similar size because of its custom measurements and fittings and will have taken 4 years to complete. Antilla's shape is based on the concept of Vaastu, an Indian tradition similar to Feng Shui that is said to move energy beneficially through a building by strategically placing materials, rooms and objects.

May 4, 2008

Get Your Money Back

From my fellow agents at Real Estate Cyberspace Society (a real club that I really belong to):

You’ve seen the many stores that offer price protection policies. When the price drops on an item you've purchased, they'll refund you the difference. But here’s the gotcha -- it's up to you to catch the price change. These folks make it easy to keep track of your purchases and get your money back. It's as simple as entering the URL for the product from the retailer’s web site. From there on out this service monitors the product’s price for you and notifies you by e-mail the moment you are entitled to a refund. And, guess what? There’s no cost for this service.
http://www.priceprotectr.com/

May 1, 2008

Bad Real Estate Photos

Another week, another batch of photos from our local MLS listings of homes for sale. Each home listed for sale can feature a maximum of 10 photos. So, here are their best:
 

Check out the flying saucer in this living room!







So you think folks are going to drop big bucks for a set of towels and a couple of prints from the craft store?






Of course, there is always the draw of a furry toilet.








What kind of seller wants to showcase a kitchen this messy? I would at least shove the junk out of camera range.





My fellow Realtors should love this one. When a property survey is available we typically scan it to include with the listing material. I've never seen this poor man's version of a survey. Good luck making out the lot dimensions.