State of the Dallas Real Estate Market

As 2014 winds down, let take a look at the Dallas real estate market heading into 2015. The DFW residential continued 2013's record-setting pace in 2014 with 83,000+ home sales reflected in $20 billion in homes changing ownership.

During the past year, our average home values increased and the average time it took to sell a home decreased to less than 60 days. The strong local economy was the driving force behind strong residential real estate sales.

It looks like 2015 will be another stellar year for the DFW real estate market and for the Ebby Halliday Companies. Through November 2014, the Ebby Halliday Companies had participated in 1 of every 5 DFW area homes sold through MLS during 2014.

More statistics to come as the numbers roll in after January 1st. Please contact me to assist you with your real estate needs in 2015. I wish you a happy and prosperous New Year! [where: 75230]

Best Tips and Advice on selling your Dallas home

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Tour the Dallas Disney Streets

Come visit a few homes in the Disney Streets in Dallas. Located between Royal Lane and Northaven Road, it's a charming neighborhood with spacious lots, nice parks, towering trees and friendly people.

I love to sell homes in this fairy tale neighborhood. 

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Light up to sell your home

It's winter in Dallas and when it's cold or dreary, it may take a little more work to make the all important good first impression with potential buyers for your property. When selling, lighting can make a dramatic difference in how buyers perceive the size and condition of your house. Lots of light makes a space feel larger. So let's stage your home in the best light.

Here are my best 6 lighting tips to help show off your space:

1. Turn on every light fixture and lamp in every room for all showings. Yes, even during the daytime.
2. Open the window treatments and let natural light shine in. Unless the view out the window is really awful, let the light in.
3. Increase the wattage in your lamps and fixtures. A little more bulb power really brightens up rooms. Crisp white light is better than blue or yellow tints.
4. Replace any and all spiral fluorescent bulbs with pretty clear or frosted bulbs. As much as I love to be earth friendly, this is the time when you need to forget about it in favor of aesthetics. Save the energy efficient bulbs for your next house.
5. Hanging lights should be appropriately sized for the space. Chandeliers should hang about 30” above the table and wall sconces should be just above eye level.
6. Clean light fixtures and windows so they sparkle.

In a 2012 national survey, 28% of women and 25% of men put greater emphasis on their feelings about a home when they walk in the door than they did on the home's price, square footage or layout. And most buyers take less than a minute to size up your home and determine if they like it or not. Light up for a sale!
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How a rise in interest rates will effect home prices

Reports have been circulating that if mortgage interest rates begin to rise rapidly, home prices will drop substantially. It makes sense, because buyers can afford less home if they are paying more in interest. Typically a 1% rise in mortgage rates equals a 10% rise in the overall cost of the home for a buyer (check out this article that explains it).

However, that has not been the case over the past 30+ years. Mortgage interest rates have quickly shot up 4 times in the past 35 years. And you can see from this chart ( from Keeping Current Matters) that an big increase in rates doesn't mean that home prices will fall.

We'll have to see if history continues to repeat when it comes to interest rates and home prices.

Join the Dallas Children's Parade Fun

Come see me at the 2014 Children's Parade this Saturday, December 6th in downtown Dallas. I volunteer annually as a balloon handler and it is so much fun.
This year Ebby Halliday Realtors is sponsoring the Garfield balloon.

Use this parade route map to determine your watching spot. The shaded streets will be closed prior to the parade.

Come give us a wave!

[where: 75230]

The parade airs this Saturday, December 13th at 10:00 a.m. on Channel 8.

5 Overlooked Basics for Selling Your Dallas Home

Mr. or Ms. Buyer are shopping for a home and guess what happens before they make an offer?

They walk into a house and they get that sensation - they just know it's the right home. They make an emotional connection. Creating that feeling sometimes needs a helping hand. As a seller, you need to appeal to all five of the buyer's senses.

1. Look good - appeal to their sense of Sight. Photos and the curb appeal are the most important aspect of appealing to a buyer's senses.

2. Smell will evoke an unconscious emotional response. Even the slightest hint of pets, harsh chemicals or mustiness can conjure up impressions of dirtiness, mold or mildew. Ensure every room of your home smells fresh and clean. Click Here for my tips on making your home smell like a sale! Make it smell beautiful.

3. Sound attractive. Play soft music throughout the house either via a cd or televisions. Smooth jazz is usually ideal with a nice walking pace. Stay away from anything too lively or loud and avoid music that's too slow or sedate (like classical music).

4. Reach out and Touch them. Appeal to the buyers' tactile senses with smooth, clean surfaces. Add plush towels in the bathroom and cushy pillows on the bed.

5. Taste is a hard sense to appeal to when selling a home - but not impossible. Leave a plate of cookies on the kitchen counter with a welcome note. Provide bottled water. Or even a bowl of candies next to the marketing materials will help. It may put a smile on their face and help entice a buyer to make that emotional connection with your property. [where: 75230]