Fairytale Home in Preston Hollow

What a nice story on this delightful storybook home that I've just put on the market for sale.

Click here for the details about this pretty home. [where: 75230]

Demand for Homes in North Dallas is UP!

While the inventory of homes for sale in North Dallas is down, demand for those homes is up.

There are fewer homes for sale in North Dallas than there were this time last year. Yet more people are looking for homes to buy based on the number of showings taking place in homes for sale.
Let's compare the statistics for the hot summer week of July 22nd through July 29th - both in 2011 and 2012.

In that one July week last year there were 1,004 home showings in zip codes 75205, 75209, 75225, 75229 and 75230. Those were scheduled showings through CSS, the service that schedules Realtor showings in the Dallas area.

These represent actual showings where a potential buyer visits the home with their agent. These are not folks wandering through open houses. Of those 1,004 showings, they could have been 1,004 people looking at one home each or they could be 502 people looking at two homes each, 251 people looking at 4 homes each, etc.

That same July week this year there were 1,385 showings in those same zip codes. Now either more people are shopping for homes or potential buyers are looking at more homes than they normally do. Based on what I am seeing and hearing out in the field, I believe there are more buyers than there were a year ago.

In July 2011 there were 1,480 properties for sale in North Dallas zip codes 75205, 75209, 75225, 75229 and 75230. July 2012 isn't finished yet, but as of today, there were 953 properties for sale in those zip codes.

So we have fewer homes for sale but more showings of homes for sale. If you were wondering if this is the time to have your house on the market - the answer is Yes!
[where: 75230]

Bad Real Estate Photos

The theme of today's shared photos is:

Find what is wrong with this picture.

Some kid is missing his action figures.

When I think of kitchens, this is not the kind of batter I envision.

Everything else about this kitchen is rather pheasant.

This photo appears in a current MLS listing. It's now 2012.

One man's art is another man's porn.

North Dallas Inventory Remains Low

The number of homes available for sale in North Dallas continues to remain low while demand continues to rise.

Currently there are 518 pre-existing properties for sale and 22 new construction homes for sale. That includes single family homes, condos, duplexes and townhomes. The last time inventory was this low was December 2008.

And while the chart shows a slight dip in homes listed for sale over the past 3 years, keep in mind that the population continues to rise in Dallas. Click on the chart to view it larger. [where: 75230]

Dallas Real Estate still going strong

This morning's statistics on the Dallas Real Estate market indicate that we're still one of the strongest markets in the country. Folks just keep moving to Dallas because:

1. We're centrally located with a great airport for easy access to the rest of the world.
2. Texas is a business-friendly state and makes it easier for companies to do business here than many other states in the country.
3. We've go great weather. Sure it's hot in the summer, but that's why we have air conditioning.

There are many other reasons, but these help drive our real estate market. And if everyone moving here could quickly sell their homes in those other states, we'd be out of homes in Dallas. I'll post some stats for you  this week. [where: 75230]

Return of the Preston Royal 7-11

Our neighborhood 7-11 convenience store closed a couple of years ago and the space became a bagel shop.
Now the Exxon gas station at Preston Royal is going to become a 7-11.

Fortunately, they'll still sell gas. Maybe bagels too?

Bye, Bye Fire Station

The last of North Dallas fire station #27, located at Douglas and Northwest Hwy, is being carried away today to make way for a new and improved station. The station served this area - which includes my office and the former president's office - for more than 60 years.  [where: 75230]

Live in Today, Move out of Yesterday

My job is all about moving. People don't need me if they aren't making changes in their lives. So I really love this advice:

You can't move forward by repeating yesterday.

Yesterday is a reference library, not a room to live in.

The past has a purpose in our life. But too many people retreat to the past and take up residency. Yesterday is about learning lessons. It's okay to revisit the past and find a lesson to improve today. But its not okay to relive it. Reliving steals the meaning from today because it doesn't allow you to see today's opportunities that are right in front of you. Live in Today.

Funny Real Estate Translations

I've written my share of flowery descriptions for properties and often have to laugh at some of the creative euphemisms agents use to describe their properties. Even though I've shared a lot of them with you already, here are a few more from Scott Levitt:

Cathedral ceilings: Better get a loan for your heating bill. Might be cheaper to burn your furniture to stay warm.

Close to schools: You will spend big chunks of your morning and evening commute stuck behind buses and crawling through school zones.

Commuter's dream: Built conveniently at the bottom of an off-ramp next to a truck stop.

Daring design: Hope you want to live in a warehouse.

Efficiently designed kitchen: The kitchen is big enough for one person unless you want to open the stove. If you do, back into the living room.

Lots of storage space: Good luck making the basement a family room.

Meticulously maintained, original condition: Hope you like 50-year-old avocado appliances!

Pet-friendly neighborhood: Be sure to buy a pooper-scooper when you move in, even if you don't own a dog.

Walking distance to (X): Good luck finding parking in this neighborhood!

North Dallas Real Estate Statistics

We're almost midway through July, so time for a look at real estate statistics in and around Preston Hollow. These are the for the area bordered by Northwest Hwy on the south, Central Expressway on the East, LBJ on the north, and Midway Road on the west.

If you're a seller,the bad news is that prices haven't rebounded yet. Prices in the area peaked in 2008 and they have dropped by a small percentage in the past few years. Now the good news:

Pending Sales are the highest they've been since 2008. Added to the increase in closed sales, this shows that demand has risen. And based on the economic growth in North Texas, it is continuing to rise. Now the really good news:

The supply of homes for sale is way down. Given the demand, we should see a gradual increase in prices over the next year. [where: 75230]

My Condo Remodel

condo before

With 3 children in college, it made sense to buy a condo in Austin where we'll be sending tuition checks for a few more years. So the lucky one in law school just got a nice little place located one a block from campus.

condo after

With the help of the Austin Decorating Center, we just finished a complete remodel of this condo. Everything from light switches to the entire bathroom was updated. Here are the 'before and after photos'.

condo after

Yes, that's a real longhorn with 7 ft horns on the wall.

The dark living room before.

The living room after the remodel.

Kitchen before

Kitchen after

The ugly plastic bathtub before.

The pretty tile walk-in shower now.

My Austin real estate agent Jacquelyn Noack with Amelia Bullock Realtors did an excellent job of helping me get a great deal on this unit. I enjoyed this so much, that I kind of want to do it again.

Preston Hollow July 4th 2012

The neighbors in Preston Hollow turned out this morning to show their patriot spirit at the annual Preston Hollow North July 4th Parade.

More photos are on my July 4th Parade web site. Click here to view them.

[where: 75230]

Six tasks Before your Home is Inspected

When selling a home in Dallas, you can count on a buyer to have it inspected during the Option Period. Here are a my top 6 quick and easy tips for getting your property ready for an inspection. These same items tend to appear on a lot of inspection reports. You really ought to go ahead and do them now - regardless of an impending inspection.
1. Replace your air filters. Dirty filters tell buyers that you don't maintain the heat/ac system. Then they wonder what else you haven't maintained.

2. Replace the refrigerant line insulation on your outside air conditioner. Pipe insulation is a gray foam kind of tube you can get at Lowes or Home Depot. It is cheap and helps keep the cold air cold as it enters your house. Our Texas weather causes this insulation to deteriorate after a few years, so replace it when it shows signs of cracking or falling off.

3. While you're at it, clean the outside compressor. Clear away any vines, leaves, etc. and hose off the coils. You don't need any special tools, just a garden hose.

 

4. Trim away any shrubs, trees or vines touching the house. They can damage the house ( especially the roof) and allow insects easier access. The inspector will note it, so trim. 

5. Go in to the attic and clear any debris out of drain pans. Your heat/ac system has a drain pan as do water heaters. Insulation is easily knocked into drain pans and could clog the drain lines. Cleaning away any debris by hand and wipe with paper towels.

 6. If your home is older, check the dishwasher drain connection to the garbage disposer. It should go from the disposer and head uphill before going to the dishwasher. That keeps gunk from the disposer from backwashing into the dishwasher. A simple fastener should do the job.