Looking forward to 2012

Happy New Year from Lydia & Ebby

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Why 2012 will be a good year for Dallas Real Estate

Two words - Affordability and Demand.

There is a demand for affordable homes in Dallas and that demand continues to grow. People are still moving here and home prices are great. Even expensive homes are selling well if they are perceived to be good, affordable buys. Here is one example of our affordability going in to 2012:

Let's say you want to purchase a $500,000 home. Four years ago the mortgage rate on that home might have been about 6.5 percent. Your house payment would have been about $2,528 a month for a 30 year loan with 20 percent down.

Today, you can likely get a little more home for your money and the interest rates are rock bottom. A $500,000 home will cost you $1,909 a month for a 30 year loan at 4.5 percent with 20 percent down. And right now with excellent credit score you should actually be able to get a mortgage under 4 percent - making that payment even lower.

If you don't take advantage of today's low mortgage rates, some day your kids will say "You mean you could have bought a home with a fixed rate mortgage under 5 percent and you didn't?".  You could have bought a nicer home and your payments would be $1,909 a month (or less) instead of $2,528 a month (or more)?

You'll be lamenting how you 'should've bought back then' when prices were low and interest rates were a steal. The year 2012 is the year of affordable homes in Dallas. [where: 75230]

Recycling Dallas Christmas Trees

Isn't it great that you can recycle your live Christmas tree at Home Depot this year? Make sure all lights, ornaments, nails, etc are off. Locations around North Dallas are:

• 11682 Forest Central ( Forest Ln, east of Central Expwy)
• 6110 Lemmon Avenue (south of Mockingbird)
• 6000 Skillman ( just north of Northwest Hwy)
• 11468 Grissom Lane (south side of Forest, west of Webb Chapel)

If you don't want to haul it somewhere, then place it on the curb the weekend prior to your block's curbside bulk trash pick up. But that may be some time from now. The earliest dates in North Dallas will be between January 5th and 19th - depending on your block. Check the schedule here.

Meanwhile, most needles from Christmas trees can be spread in flower beds to give them more acidity. Azaleas love it.  [where: 75230]

Merry Christmas 2011

May your holiday be warm and bright![where: 75230]

Realtors with a sense of humor

My fellow associates at Ebby Halliday really have a sense of humor. Check out their collections of Elf On The Shelf characters here.

 

https://www.facebook.com/#!/media/set/?set=a.10150431525568807.358268.71986218806&type=1

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Top 5 Tips for Selling your Dallas home in the winter

There are fewer homes on the market this time of year because not too many people want to show their home during the holidays when the kids are home or relatives are visiting. But if you are one of the brave winter sellers, you face less competition because the home inventory is lower this time of year. And come December 26th, lots of folks start looking on line for a new place to live.

Here are my top 5 tips for selling your home during these chilly months:

1. Turn on all the lights. Winter days are shorter and often darker. Light the house for a cheery and welcoming feel. Leave the exterior lights on until you go to bed to appeal to people who are driving by.
2. Keep it tidy. We know it is hard to keep your home 'show ready' this time of year, but do it any way. Bulky coats and winter items should be taken with you in the car when you leave for a showing. See my list of how to get your home ready to show quickly.
3. Keep the thermostat at a reasonable setting. Not too cold, but definitely not to hot. Remember the buyers will likely keep their coats on while in your house, so don't toast them with hot air.
4. Maintain the curb appeal. I know it's difficult when the grass is dormant and everything looks gray. But keep the exterior neatly maintained. Put out a flag for color and to give the home some life. Make the exterior of your home look very well groomed.  
5. Be mindful of odors. Closed doors and windows combined with warm furnace air can make for stuffy conditions that allow unwelcoming odors. You'll need to clean more often and be mindful to avoid strong cooking odors, strong air fresheners or any kind of pet smells. [where: 75230]

Thank you for the Holiday Cheer

The neighborhoods in Dallas really put on some great displays this time of year. And I consider them a gift. So I just wanted to say thank you to my neighbors. The outdoor decorations are so lovely and the beautifully lighted homes brighten my evenings.

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Bad Photos of Homes for Sale

Who needs lots of photos when you can get a circular view of the whole house?

Wonder when this house went on the market? Says date and time right there.

Needs updates. As you can see, we're working on it.

Find the photographer in this shot.

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Dallas Home Inventory by Price

End of year statistics for 2011 are several weeks away. However, these figures are interesting to note the difference in our inventory of homes for sale by price range.

While the DFW market slowed slightly in the third quarter of 2011, there were moderate increases in both home values and the days on market. The entire North Texas area continues to be recognized as one of the best performing real estate markets in the country. This chart shows the 3rd quarter numbers for the entire metroplex.

As you can see, we have only a 3.94 month inventory of homes priced under $100,000. That represents a seller's market for that price range. However, homes priced over $500k have 13.38 months of inventory, which reflects a buyer's market. The Home Inventory is the supply of homes available for sale and how long it would take to sell all of them if no additional homes came on the market.
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Real Estate Lingo - What is an REO property?

REO is an acronym for for Real Estate Owned. It refers to a property owned by a bank or mortgage servicer and typically refers to homes that were foreclosed and repossessed by the former owner’s bank.

Purchasing an REO property involves dealing with the bank owner. There is no seller disclosure and the property is usually purchased in as-is condition. The offer process, contract forms and timeline to close are often different than the non-REO purchase process. Sometimes, but not always, the reward for purchasing one of these 'distressed' properties is the bargain price. If you're considering purchasing an REO property, make sure it is a bargain price by consulting with a Realtor, like me, who knows. [where: 75230]

Take a seat on Santa's lap

Most children love to tell Santa what they want for Christmas. And this year it is easy to catch up with him as he makes personal appearances at several Ebby Halliday offices.

I have a confession. When my kids were ages 2,4, and 7, my husband was traveling Sunday night through Friday night every week. One December morning, I dropped my oldest off at St. Mark's with the two younger ones in their pajamas in the back seat. As we dropped him off, I noticed a teenager in the parking lot wearing a Santa suit and waving a poster for their toy drive.

So I did what any exhausted and enterprising mom would do. I told the kids "Look it's Santa. You can tell him what you want for Christmas". We pulled up to young Santa and I motioned him over to the open window. The kids shouted out the window to him what each of them wanted. He looked a little confused but said "Ho, Ho, Ho. Okay kids". In 30 seconds we had our visit with Santa. They were excited all day that they had seen him and it saved me a trip to the mall. But I still feel a bit guilty about it.

Below are two opportunities to have a real visit with Santa. Bring the whole family for photos!

Ebby’s Little White House
5999 West Northwest Highway
Dallas, TX 75225
Sunday, December 11th
2:00pm – 5:00pm

and if you miss that, he'll be at

Ebby’s White Rock Lake Highlands Office
10233 E. Northwest Hwy #438
Dallas, TX 75238
Saturday, December 17th
9:00am – 11:00am
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Preston Royal Central Market update

Those of us waiting for the opening of this new local grocery and cafe were hoping to see the doors open by this holiday season. However, that won't happen. The new Central Market at Preston and Royal is scheduled for a February 2012 opening.

The construction site is coming along nicely, but perhaps they should have thought twice about all the windows with an unobstructed western exposure. Come August, you'll be able to fry an egg on those windows around 6:00 p.m. each day. [where: 75230]

Texans like to move

Maybe it's the Texas pioneer spirit, maybe it's wanderlust or simply the pursuit of the good life - but it's undeniable that Texans like to move. On average 17.4 percent of Texans move in a year. The national average is 14.9 percent of the population moving.

One thing to remember about statistics is that there is often a twist - and here is one. These numbers reflect the population over 1 year of age. So that percentage of homes and apartments aren't changing hands each year. Only that percentage of the total population ( which includes every man, woman and child) is moving. Many of these people are families who are living under the same roof.  [where: 75230]

Santa is waiting for you in Preston Center

Santa is a busy guy this time of year - at the malls, shops, street corners,...  Every Saturday this month he'll be at The Plaza at Preston Center at the southeast corner of Preston and Northwest Hwy from 11:00 a.m. until 4:00. Photos with Santa and his live reindeer are free with a donation to the North Texas Food Bank.   [where: 75230]