Funny Dallas Real Estate Video

It's a holiday weekend and time for a little fun - even for those of us working and selling homes. Enjoy this spoof video called Glad You Came to our Open House.

And stop by this open house at 5878 Lakehurst on Sunday. It will be open 2-4.

Can you believe we filmed this on a whim in just 2 hours? What do you think?

Anthony Galo is the talented college student and real estate intern who filmed this video. Here is his youtube page.
 

Protect your Home from leasing scams

Scams involving homes for sale are becoming more and more common. Nothing makes my blood boil more than thieves and scammers. I've had direct experience with several of them and believe me, these folks have their rip offs down to an art. They make very good money swindling people.

The most common scam involves these crooks listing a home for lease that is actually a home for sale. Typically they present it as a house "for lease" at a very attractive monthly fee. This false lease listing will then appear on many sites such as Zillow, Trulia, HotPads, Craigslist and many more. Next thing you know, some poor schmuck appears at your door wanting to know when they can move in.

How do they do it?

• The scammer steals the information and photos from the 'for sale' listing details about the property, looks up the real owners name on the tax rolls, and offers the property for lease online.
• They offer the property for lease significantly lower in price than comparable properties in the area.
• A potential tenant sees an opportunity to get a "steal" of a deal on a property and emails the scammer ( who is using the agent's or real owner's name).
• The scammer claims they've decided to lease instead of sell and says they are currently out of town. The crook typically has a great story about wanting someone responsible to take care of the property vs. a higher rent.
• The scammer asks for deposit to be wired to London, Madrid, California, ... to secure the home at that low price.
• The potential tenant ignores common sense and wires money to the scammer.

How can the scammer list properties for lease without permission? Many websites allow anyone to list items for sale, including real estate, without first proving ownership. Thankfully, I've quickly discovered each time one of my listings has been the target of a scam and I aggressively deal with these fraudulent listings. I can usually get the listings removed within hours. But it sure takes a lot of time and effort preventing and dealing with crooks like this.

Since these criminals aren't going away, you may want to be aware of how to watch for them when your home is for sale. Law enforcement agencies will only become involved once someone has lost money to these thieves.[where: 75230]

Dallas Home Sales Update by Price Range

Dallas 2013 Real Estate sales are up. Prices are up as well and it's a seller's market. However, lets take a closer look at the sales statistics to date.

DFW Homes Sales overall are up 27% from 1 year ago.

DFW Home Prices overall are up 10% from 1 year ago.

While that's great news, it's even better if you're in the $700,000-800,000 price range. For those folks, home sales are up 59% over this time last year. Sales are down for properties priced under $80,000.

If you're priced $100,000 - $110,000, the demand is the strongest for your price range with just 2 months of available inventory of homes for sale. The highest inventory of homes for sale is the in the $1 million + price range with 12 months of inventory.

Here is a break down of sales numbers compared to 1 year ago:

$100,000 - $149,000 priced homes up an average of 16%
$150,000 - $249,000 priced homes up an average of 29%
$250,000 - $499,000 priced homes up an average of 47%
$500,000 - $1 million priced homes up an average of 42%
$1 million + priced homes up an average of 20%

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How to Make Your Home Worth More

When you want to increase the value of your property, there are several things you can do that will really pay off.

The first is maintenance. Buyers expect a home to be maintained and they won't pay more for repairs and maintenance items. So before you embark on any home improvements, make sure you fix items that aren't fully functioning as intended. Anything electrical, plumbing, roof, foundation, pool, heat and ac, ... needs to be working as it should. Don't think buyers won't notice if they aren't - they will. And if they don't, their savvy agent will point it out to them.

Then when you're ready to increase the value of your property, follow these 10 tips from this builder, Elite Craft Homes. They are fantastic pieces of advice and are very applicable to Dallas homes.

Here are their top 10 tips that will increase the price of your home:

1. Landscape: " Landscaping gives you the highest return on your money and can totally transform the exterior look and feel of your home. Make your front yard a colorful and well-groomed space."
2. Spiff up your Front Door: "Sand it and stain it or simply repaint it. Either way, you’ll get true results by making your front door the focal point of your home’s curb appeal. Don’t forget about the door’s hardware, the surrounding lighting, and potted plants on either side"
3. Make an impressive Pathway: "The pathway to your front door is the first chance you have to impress guests. It needs to stand out. Brick pavers, or other high-end materials, will impress potential buyers. Planting flowers along the pathway and adding exterior lighting only accentuates the charm"
4. Fix up your Foyer: "Your foyer is the first thing that people see when they walk into your home, so it needs to be welcoming. It should be free from clutter and guests shouldn’t feel confined when moving around so clear out bulky furniture. Be sure the lighting is good and that the line of view is unrestricted to other parts of the house."
5. Update your Lighting: "The right lighting is the crowning jewel of any room. It makes smaller homes feel larger and darker homes feel more cheerful and bright. Update your lighting and you’ll see instant results that will be sure to improve the feel of any room."
6. Choose your Paint wisely: "If you’re trying to sell your home, this is always a tricky thing. While you don’t want to use bold, vibrant colors that may not appeal to everyone, you also don’t want to be too bland with white or beige. Carefully choose rich colors that have a wide appeal and don’t forget to accentuate windows, trim, molding and baseboards."
7. Avoid major Overhauls: "This applies to potential sellers and their kitchens and bathrooms. If you’re going to sell, avoid remodeling these rooms and focus on smaller, less expensive ways of sprucing up these spaces.  Update lighting, replace knobs or pulls on cabinets and drawers, install new faucets, nozzles and mirrors."
8. Paint your Cabinets: "If moving, it’s risky to dump a ton of money into replacing or refinishing your cabinets. Instead, try putting in some sweat equity and paint them. It’s amazing what a coat of fresh color can do to improve a kitchen or bathroom’s look."
9. Get the right Flooring: "Worn, stained carpet and vinyl flooring will age your home. Replace the old stuff with new carpet or updated materials like tile, stone, laminate, or hardwood."
10. Make your Backyard entertaining: "By creating a backyard space that is perfect for entertaining, you’re helping potential buyers visualize all the good times they could have if the space was theirs. By simply adding some new patio furniture, a fire bowl, potted plants, and exterior lighting, your space becomes inviting and ready for guests."

I would add to this tip:

• Make the master bedroom suite feel like a romantic, luxury hotel. Simplify the accessories, use fluffy white linens and towels, remove personal photos, and give it plenty of relaxing, breathing room. [where: 75230]

Dallas' priciest foreclosure this month

So glad that foreclosures and short sales are down. But as usual, buyers of distressed properties still have some choices if they show up on the courthouse steps on the first Tuesday of each month.

Here is the most expensive foreclosure that's been posted for sale this month. It's located on a lovely acre lot in the Glen Abbey community off of Keller Springs Road. With more than 11,000 square feet, a pool, cabana, and sports court, it also has 4 bedrooms and 8 baths. The amount currently owed on it is just over $5.5 million. But you may be able to snatch it up for 3 or 4 million. Who knows?

While the owners can take steps to recover the property and remove it from the foreclosure auction, it is likely to be sold to the highest bidder in a few weeks. Show up with a cashier's check or money order to cover your bid and it could be yours. Remember that you need cash to buy a foreclosure like this and they come 'as is'. Don't forget the $85,000 annual tax bill and any HOA dues that might need to be paid. [where: 75230]

Listen to the Feedback

Dear Mr. or Ms. Home Seller,

I see that your home is for sale. You want to move and are doing your part to make that happen. That's great.

Hopefully potential buyers are viewing it online and you are getting showings. You are getting showings right? I don't mean people coming through an open house, but real potential buyers who are going to the trouble to schedule an appointment and come see it in person with their real estate agent.

How is the feedback? What are those buyers (and buyer's agents) saying about your property? Do the comments have a common theme? Listen to them. If everyone hates the carpet, then that's your deal breaker. If the rooms are too small or the street is too noisy, then you need to compensate for that.

The most common negative feedback from potential buyers is typically that the home needs too much work. What they mean is that AT THIS PRICE, the home needs too many repairs or too much updating for them to consider it. There is a price point for every expectation. Buyers expect different things at different price points.

The 3 most important factors for most buyers are:
•location ( you can't change that)
•price ( the seller controls that)
•condition ( seller controls that too).

Listen to the feedback from those buyers and you can adjust the important factors to get it sold and move on with your future.

Trick to Selling Your Dallas Home - make them want it

Anyone following our hot real estate market knows that inventory is low, demand is up and it's a seller's market. So why isn't every home selling?

Buyers are picky. Blame it on HGTV or the slow market over the past few years. But most buyers want homes that are in pristine condition. If it isn't updated and perfect for their needs - they'll wait for one that is.

So if you want to sell your home in this great seller's market, give the buyers what they want and they will beat a path to your door. If the location and condition of your property isn't what they want, then the price needs to make it more appealing to them.

Get the buyers to want your property and here is what they are willing to do to get it:

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Real Estate Tips on the Radio

If you missed my appearance on KLIF's Real Talk Texas, then here it is. Click on the links to listen and enjoy.

Part 1: Introductions and a little chatting: click here
Part 2: The current market update - statistics: click here
Part 3: Tips on selling or buying: click here
Part 4: The local market and mortgages: click here