Jun 30, 2012

Getting a Dallas Home Inspection

Never buy a house without a home inspection. The only exceptions are if you plan to tear it down or if you want to buy a money pit. A good home inspection can save you from a lot of future headaches. And it helps you know what you are really buying.

When I'm representing a buyer, I recommend the most thorough, detailed inspectors in the area. In Dallas, home inspectors are licensed by the state. They charge anywhere from $300 to $900 based on the home's size, age, and type of foundation. But like real estate agents, not all home inspectors are the same. And the good ones are worth every dime.

I have a few favorite home inspectors. Two of them are:
As a buyer, you want a detailed inspector who will educate you about the property. But you don't want someone who will scare you unneccessarily. No home is perfect. Even the most well-constructed, brand-new home has something that can be found wrong - or at least has the potential to become wrong.

The "Big 3" conditions that buyers worry about the most - because they are so costly to repair - are foundation, roof and heating/ac system. However there are plenty of other items that the average person can't tell if they are working properly. Everything from hot water heaters to electrical panels need to be inspected by a professional.

An inspector will crawl around the attic, run tests on all the systems, and basicaly test things that you don't even think about when you're buying a home. But don't you want to know if the oven runs 50 degrees too hot or if the sprinkler system has an underground leak? [where: 75230]

Jun 26, 2012

Hockaday request for expansion

The Hockaday School on Forest Lane has filed a zoning request to allow for a mega expansion on their campus. And I do mean Mega.

The all-girl school encompasses 88 acres of prime Dallas real estate that runs along Forest Lane all the way from Welch to Inwood. The school has a long and distinguished history of educating future leaders.

The proposal is for:
  1.  expansion of the Fine Arts wing of the campus,
  2. addition of a tall architectural "fly tower",
  3. addition of a new entrance off of Forest Lane,
  4.  new athletic fields with lighting,
  5. new Child Development Center,
  6. new Tennis Center building and courts,
  7. expanded track,
  8. adding/ reconfiguring parking,
  9. adding bleachers to the track and playing fields, and
  10. additions to the:
  •  dormitories,
  • Field House,
  • Dining Hall, and
  • Administration Building.
Wow! Stay tuned for neighborhood reaction to the requests. Now is when we find out if they've played nicely with the neighbors. [where: 75230]

Jun 22, 2012

The Price of Experience


Here's a little joke that illustrates that it's not always just the time we pay professionals for. Often it's their experience.


A frantic homeowner calls a plumber before a party. "Help! I have 30 people coming over tonight and when I turn the bathroom faucet on, it makes this horrible noise and the water just dribbles out."

The plumber says: "I'll be right over, but it will cost double for the emergency weekend call."

"Of course," the homeowner says. "I just need you to fix this!"

When the plumber arrives, he turns the faucet and it makes a horrible noise and the water just dribbles out. He turns the faucet off and bends down to look under the sink. He opens his tool box and grabs a large wrench. He hits the pipe really hard with the side of the wrench. He puts the wrench back in the tool box and tells the homeowner to turn the faucet on. It works perfectly.

"That will be $500," the plumber says.

"What?! All you did was hit the pipe with a wrench! It took you less than 5 minutes to do your job!"

"It may have only took me 5 minutes to hit the pipe, but it took me 20 years to learn where to hit the pipe."

Jun 20, 2012

4 Best Dallas Roof Repair Tips

Lots of folks are dealing with roof damage after last week's big hail storm. Before you talk to ANY roofing company about repairing your roof, potential damage or your insurance possibilities, please take this advice:

1. If someone rings your doorbell regarding your roof or hail damage, ask to see their city permit. Don't listen to their spiel, let them inspect or do anything else before you see their city permit. No permit? Close the door. Scammers frequently work door to door and do not have a permit.

2. Call your insurance company. They deal with reputable roofers who don't have to ring doorbells for business. Do not hire anyone or sign anything without speaking first with your insurance company.

3. Get references from friends, family, neighbors, or Realtors. Guys looking to make a quick buck will promise you anything. When they don't deliver, you end up stuck. Either they'll take your money and not complete the work or you'll find out they didn't do it right months later when the water is pouring in your house.

4. Research the roofing company before you hire them. Legitimate roofers are online. Google their name and find out about them. If you can't find any reference to them online, don't hire them. Beware of the guy who tells you he operates on a shoestring budget so he can pass the savings on to you. It often means he is hiring unqualified, uninsured labor and using substandard material.  [where: 75230]

Jun 16, 2012

New Homes for Sale in North Dallas

Look for a brand new home to buy? The pickins are slim if you like North Dallas.

Currently there are 12 new construction homes available between Northwest Hwy and LBJ. And about half of those are still in the planning stages or have just begun construction. As you can see from the graph, we had 78 new homes for sale during this same time 3 years ago.

In the area between Uptown and Northwest Hwy (Park Cities, Bluffview, Devonshire, Greenway Parks, etc.), there are currently 11 new homes for sale. Many of them are still in various stages of construction as well. Three years ago there were 104 new homes for available to buy.
It's a great time to be a builder in North Dallas - if you have the land and the money for construction. [where: 75230]

Jun 12, 2012

Sales Up, Inventory Down, ...

May 2012 Home Sales are up 32% across North Texas.

This great graph is courtesy of our friends at Hexter Fair Title Company.

With sales up and the inventory of homes listed for sale being down, the simple laws of economics tell us that prices are on their way up. If you're thinking of buying a home in Dallas, get ready to pay more for it.
[where: 75230]

Jun 8, 2012

The Ultimate Home Luxury

The ultimate home luxury isn't heated flower beds, an air conditioned garage or a stocked wine cellar. In my book, the most desirable luxury is time.

If money were no object, most of us would want a fabulous home without all the time it takes to manage it. In addition to the normal upkeep, luxury properties need cleaning, landscapers, pool maintenance, etc. They take a lot of time and attention.

In steps the ultimate home luxury - a house manager. My friend Laurence Alden is the premier house manager in Dallas. He is like a modern day butler, but even better. As a homeowner, I'd love to never worry about changing an air filter or even a light bulb.

Laurence purposely limits his client list and they include professional athletes, CEOs, doctors, lawyers, etc. His company Hometime Services monitors the homes of his clients when they are out of town and basically takes care of all maintenance. His service includes a monthly check of all the house systems and he is on call for his clients 24/7. Basically, Hometime helps them live a worry-free life.

If I ever win the lottery, he will be my guy. Of course, if you have a really big estate, you need a full-time personal house manager (or Major Domo) who runs the place. Like a butler or social secretary, they oversee the household staff (maid, landscaper, chef, etc), take care of all home maintenance, maintain house supplies, assist with events in the home, handle security, auto maintenance, pets, etc.

Or maybe I'd just get a townhouse and let Laurence take care if it.

Jun 6, 2012

May 2012 a record for Dallas home sales

The Ebby Halliday Companies and its Associates closed more than $518 million in real estate sales in May 2012 - an all time record high for the month of May. As the #1 brokerage in the Dallas/Fort Worth area, it is an indicator of the market as a whole.

The Demand Institute issued a new report today: The Shifting Nature of U.S. Housing Demand. It predicts that average U.S. home prices will increase slightly in the second half of 2012 and then continue to rise over the next 6 years.

However, the recovery will not be uniform across the country. Some states will see annual price gains of 5 percent or more. Texas is sure to lead that list. Other states will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.

Demand for rental properties is predicted to remain high for the next few years as well.

Jun 4, 2012

June 2012 Dallas Home Statistics

I've been telling you that the inventory of homes for sale is down. Now let me show you with some hard numbers.

That's pretty clear evidence of the low inventory. The amount of inventory available varies by price range, but overall the supply of available homes is low. Prices are starting to inch back up so maybe more homeowners will decide to put their properties on the market. I sure hope so because I need more homes to sell. [where: 75230]

Jun 2, 2012

Dallas Queen's Jubilee


No need to travel to England. Our own Queen Ebby has celebrated her Diamond Jubilee here in Dallas already. But we may need to work on the royal wave. [where: 75230]

Jun 1, 2012

Just How Hard is it to get a Mortgage in 2012?

One of my clients recently applied for an asset based mortgage that would have had banks throwing themselves at his feet 5 years ago. After 3 different lenders responded to his request ....

His thoughts: " I haven't had this much rejection since I wandered into the the Tri Delt sorority house my freshman year in college."

The good news is he still bought the house - but with cash.

[where: 75230]