3 phrases that will kill your home listing

Real Estate marketing is full of catchy sayings or clever phrases that we're all familiar with. Some are enticing like "sparkling pool" or "lush landscaping" (as opposed to murky pool or parched yard). Other expressions are a bit odd like "hand laid tiles" (you kind of have to use your hands to put down tile).

But some real estate phrases actually hinder your ability to sell your property. Here are the three worst offenders when it comes to marketing a home for sale.

1. No showings between/until/after ... Any remarks that tell agents or buyers that you don't want to be inconvenienced to sell your property sets a negative tone. A lot of folks come to town to see a dozen or so homes and need to make a decision on which one to buy within a couple of days. If you can't accommodate their schedule, they'll go to the next house instead of yours. The only exception to this rule should be if you have an infant that naps in the afternoon and you limit showings during a 2 hour period.
2. Priced to sell / won't last long. Everything is priced to sell. If it's a great price, we'll know it and don't need to read this 60 days after it went on the market. Show us the value instead of wasting the words.
3. Owner present for all showings. Want to send buyers running from your home faster than the smell of fresh cat urine and mothballs? Just have the owner present to make the buyers feel as awkward as possible when they visit the house. When the seller is present, buyers will tip toe around the property, feeling like an uninvited guest in a stranger’s home. They'll leave before really getting a good look at the house.

If your house is for sale, please ensure these unwelcome phrases aren't hindering your marketing efforts.
[where: 75230]

Lydia's North Dallas bathroom remodel

The face lift for the main bathroom of my small townhome is finally finished. And it's a beauty. What was once a cramped and aging little space is now fresh and sparkling. The biggest change came by taking a 5 x 3 foot bedroom closet that was located behind the tub. Since the townhome already has plenty of closet space, I needed the square footage more in the bathroom. So the closet and existing tub spaces became a wet area combining both tub and shower. And it feels so, so spacious.

This bathroom doesn't have a window and I wanted it to feel larger and brighter. So I took out the fur down and tiled all the way to the ceiling in the wet shower/tub area. The new cabinet over the toilet goes all the way to the ceiling as does the mirror over the vanity. The glass shower door and sparkling fixtures give it the light and reflection it needed.

Every inch is important in a small space, so I inset shelving between the studs in a wall. I need to declutter, but for now, this is valuable storage space.

Tiles are a combination of white subway tiles and gray penny tiles. The round tile design is repeated in the shower insets. Round glass knobs and round light fixtures keep the look cohesive and add a little more shimmer. The only real pattern is the tile on the floor. By keeping the entire room neutral, I can add color with towels and other accents. If I get bored of the look, it's easy to change the accent pieces.

The big floor to ceiling mirror wasn't part of the original plan. But on the other side of that wall is the same kind of shower inset in my other bathroom. I was afraid of someone ever putting a nail in that wall and poking it through the tile on the other side. So a mirror seemed like the perfect way to prevent that. Plus, it makes the room feel larger and I could use a full length mirror. 

bathroom before

Did I mention that this was done on a budget? The existing tub, toilet and faucet remained but everything else is new. Cabinets, tile, hardware, counters, etc. came from wholesale, internet, oversupply and builder discount stores.

Total spent was between $5,000 - $7,500. As a Realtor, I get to see a lot of really nice bathrooms. Hopefully, this redo made mine look like one of them.
[where: 75230]

Free Sprinkler System check for Dallas residents

If you have water supply from the city of Dallas, you're in luck!
The city is offering a free service ( yes, your taxes pay for it) to check your sprinkler system and identify problems. Make an appointment with these "irrigation auditors" and they will come out to your home and give your sprinkler system a complete check-up.

It's simple and only takes about 15-30 minutes. You could have leaks, clogged sprinkler heads, programming errors, or other issues you don't know about. These Irrigation Specialists will let you know if repairs are needed, give you information on how to improve the efficiency of your system, go over the report, offer water saving tips, give you a little goodie bag and then email you a formal report that you can hand over to a repair service to do the work. They offer suggestions without obligation on your part.

The goal of this program is to help save water. Way to go City of Dallas!
Visit this web site for details: https://savedallaswater.com/rebates-and-incentives/irrigation-check-ups/
[where: 75230]

Salary Needed to buy an average Preston Hollow home

How much do you need to earn to buy the average Preston Hollow home these days?

The salary needed to get a mortgage depends on many factors. It includes your income, target monthly payment, down payment amount, debt to income ratio and other personal circumstances. CNN Money advises to aim for a home that costs about 2 and a half times your gross annual salary. Some lenders suggest you can go higher, but lets just stick with the typical home affordability indexes of 2 1/2 times your salary.

Based on current 2014 sales figures, it would take a salary of $669,918 to buy the average home in Preston Hollow.

The average Preston Hollow home sale in 2014 is currently $1,674,797.

That figure is for Preston Hollow as it is very broadly defined and I used the boundaries of Northwest Hwy on the south, Forest Lane on the north, Midway Road on the west and Hillcrest on the east. Each neighborhood in and around Preston Hollow is different.

You can find some lovely homes for less than $1.6 million in this area. In fact, there are currently 136 homes for sale within these boundaries and 60 of them are priced under $1.6 million.

There is no magic dollar amount that makes for your ideal home. The house you want and can afford is as unique as you are. When you need help finding the perfect home, call me.
[where: 75230]

Homes Sales Report for North Texas June 2014

The residential sales statistics from the North Texas MLS system shows how 2014 continues to see outstanding dollar volume. In May 2014 our sales total of $2.28 billion was the highest single sales month ever recorded in North Texas.

The May 2014 dollar volume was 6% better than May 2013. Average prices were up 7% while the number of actual transactions was down by 1%. The low inventory of single family homes continues to push prices up, and that reduced inventory is also responsible for fewer transactions closing.

Click on the chart for a closer look.

Really Local Real Estate Report

You've probably seen some of the headlines about how the real estate market has rebounded, prices are soaring, sales are up, etc.

But most folks don't realize that those numbers often apply to the national market, the Texas market or the Dallas-Ft. Worth market. They may not relate very well to your neighborhood market.

Just like the weather, real estate is local. It may be pouring rain in Seattle, Houston or even Frisco - but your house may stay dry.

When I give an update on the real estate market, I try to make it as local as possible. So here is what the market looks like right now in North Dallas for the areas between Northwest Hwy and LBJ and between Midway Road and Central Expressway.

The number of properties under contract has dropped in the past few months.

The number of properties sold so far this year is down.

One of the reasons for the decline in the number of sales is because the prices are up. Both asking prices and selling prices are higher.

In a nutshell, prices are up but demand has cooled a little. We've still got a healthy real estate market in North Dallas but the buyer frenzy has waned.

Based on the 3.9 months of inventory available, it is still a seller's market in North Dallas.
[where: 75230]

Dallas Home Loan standards

The home mortgage industry is constantly changing and varies in different parts of the country. But for Dallas in June 2014, here are the basics of getting a home loan.

These are the simple guidelines that lenders are following today.

Qualifying Ratios: How much can you afford ( or qualify for)?

• Debt (monthly credit obligations) to Income (monthly gross or net income) Ratios determine if the buyer can afford the home.

A General rule is 45% of your Gross (Employed Borrowers) and Net (Self employed Borrowers)Income can be used for house payment and all other monthly obligations. Someone making $10,000 per month could have $4,500 in total monthly expenses which would include the new house payment. There is some flexibility but the guidelines state 45 percent.

Basic Items needed for Loan Qualification (get these ready before you finalize a contract to purchase):

• Most recent two years filed Tax returns - all pages.
• Most recent W-2 for two years.
• Year end pay stub and most recent 30 day pay stubs
• Your bank statement showing you have the cash for down payment and expenses to close.

For more information from an actual mortgage officer, check my list of great professionals here.

When you know what you can afford, give me a call and I'll help you find it.