Mar 27, 2015

9 Essential First Steps after buying a Home

Once you've closed on your new home and the keys are in your hands - what's next?

Hopefully you've followed my Tips for a Smooth Move (found here) before you finalized the purchase.

Now it's time to:

  1. Ensure you've got some basic paper products at the house (like paper towels and toilet paper). 
  2. Confirm that all utilities are transferred and working (including lit pilot lights). 
  3. Change the Locks - Its inexpensive and then you'll know who has a key. 
  4. Forward Mail and Change Your Address- Start with credit cards.  Here is my list to help.
  5. Treat for Pests - Before you move in is the easiest time to do this. And you can do it yourself.
  6. Deep Clean Floors and Walls -While the property is still empty it's easy.
  7. Cover the Windows - bed sheets or paper will work temporarily in a pinch.
  8. Organize - make a plan from the start before you unpack. Start with kid and pet stuff, then move to kitchen and baths. 
  9. Meet the Neighbors - and get their phone numbers.
I hope this helps you start making your new house and home! [where: 75230]

Mar 25, 2015

How tight is the North Dallas Real Estate market?

Here's a quick look at the current residential market from the Park Cities to North Dallas (south of LBJ).

In this area, we've had 494 properties offered for sale since January 1st. That's down considerably over the past few years. The average asking price this year is $1,437,137. And that is up considerably.

How tight does that make our market? Extremely would be a good word to describe it. We (real estate economic experts and I) expect this trend to continue for the entire year.
[where: 75230]

Mar 19, 2015

Should you Sell with a Realtor who Specializes?

All real estate agents are not created equal. Realtors who concentrate in a specialized area of expertise sell homes for more than other agents according to a study published by the Journal of Real Estate Finance and Economics.

Some Realtors specialize in a localized neighborhood. Others focus on architectural styles (like modern or historical) or property type (like condos or ranches). And there are a few with expertise in probate sales, vacation homes, distressed properties, etc.

Those agents who specialize sold homes for an average of 1.21% more than other agents. Those homes are also more likely to sell and to sell quicker. The study indicated agents who specialized became more familiar with their area of expertise and better understood a potential buyer's needs. I've found that those agents also tend to know the other agents who represent buyers for those properties. If they're wise, they work those connections.

While I have a license to sell properties anywhere in Texas - and I've sold everything from a west Texas ranch to an east Dallas condo - I specialize in North Dallas. I also have expertise in estate/probate sales and online marketing of properties.

If you are considering the possible sale of your home, hire a Realtor who specializes in your area or type of property. I'm positioned to provide my clients the highest level of real estate service available.
[where: 75230]

Mar 15, 2015

Who is the Typical Texas Homebuyer today?

Texas continues to be a national leader in new home sales according to the recent 2015 Texas Homebuyers and Sellers Report published by the Texas Association of Realtors.
New homes made up 28 percent of Texas homes purchased between July 2013 and June 2014 - nearly double the percentage of new homes sold in the U.S. during the same time frame.

Other key statistics from the report include:
  • Increased restrictions in lending standards and rising home prices in certain local markets continue to stifle the growth of first-time homebuyers in Texas. The percentage of first-time homebuyers in Texas decreased 4 percent to 29 percent of all Texas homebuyers. Nationally, the percentage of first-time homebuyers decreased 5 percent to 33 percent of all U.S. homebuyers during the same time frame. 
  • As a result, Texas homebuyers are older and more likely to be married couples. In the report, the typical Texas homebuyer was 45 years old, an increase of 2 years from the previous time frame. 
  • The percentage of married homebuyers increased 1 percent year-over-year to 72 percent, compared to a 1 percent decrease to 65 percent nationally.
  • Texans are buying newer, larger homes than homebuyers nationwide. The typical 3-bedroom, 2-bathroom home in Texas was 2,100 square feet and built in 2002. Nationally, the typical 3-bedroom, 2-bathroom home was 1,870 square feet and built in 1993.
  • For Sale by Owner (FSBO) homes in Texas sold for 30 percent less than homes sold using a Texas Realtor.
  • 16 percent of homebuyers in Texas purchased a multi-generational home due to adult children or aging parents moving into the house. Nationally this was 13 percent.
If you're thinking of selling your home, these statistics are good to help identify your market. [where: 75230]

Mar 10, 2015

BOPA waste collection this Saturday morning, March 14th

Ready to clear some space in your garage? This Saturday (3/14), you can drop off your Batteries, Oil (motor oil & oil filters), Paint (latex) and Antifreeze at the parking lot on 5639 Forest Lane between 8am and 11am.

The location is a parking lot on the north side of Forest Lane, just east of the tollway (city land purchased for a library location). Bring your drivers license for proof of residency.

Only the items listed above will be accepted. If you're looking for a place to drop off chemicals, cleaners, fluorescent bulbs or other hazardous wastes, please take them to the Dallas County Home Chemical Collection Center. They are located on 11234 Plano Rd.

For more information, please see the website: http://www.dontwastetoday.com/BOPA_HHW.html
[where: 75230]

Mar 9, 2015

Happy 104th Birthday Ebby Halliday

Our fearless leader celebrates 104 years today! 
What a remarkable entrepreneur and inspiration! 
[where: 75230]

Mar 5, 2015

Preston Hollow - The Undefined Boundaries

If you're curious to know more about Preston Hollow, the Advocate Magazine recently published a nice piece on the boundaries of Preston Hollow.

Check it out here: Advocate Magazine Preston Hollow Story.  Lots of history and perspective.

Mar 3, 2015

Cost of selling a house in Dallas

Closing costs are a big expense when selling a property in Dallas. Who pays them are sometimes mandated, sometimes standard practice and sometimes can be negotiated. Any way you look at it, the cost of selling a property in Texas is one of the highest in the country.

In Dallas, it is common for the seller to incur the following expenses (and their approximate costs per my experiences):
  • Mortgage payoff - dictated by your lender
  • Selling broker's commission - typically 3%
  • Buyer broker's commission - typically 3%
  • Title insurance policy - roughly half a percent of the sales price
  • Prorated taxes - seller's share of current year taxes
  • Survey $0-$900
  • Release of lien - $20 to $50
  • Courier fee - $10 to $50
  • Document Preparation fee $125 - $450
  • Recording fees $40 - $95
  • Escrow fee $0 - $350
  • Home warranty $0 - $1,100
  • Homeowners Association transfer fee - $50 - $900
  • Homeowners Association resale certificate - $100- $600
  • Flood certificate $0 - $50
  • Tax certificate $250-$500
  • Deed $20 - $45
Please keep in mind that these expenses vary depending on the sales price, size of the property, county it is located, type of property (condo, single family, acreage, ...) and other factors. Many title company fees are regulated by the state, so your closing costs are not going to vary much based on which company you use.

If you are not experienced with selling a home, it is unlikely you would know what closing costs can be negotiated with the buyers. A knowledgeable and experienced Realtor can not only guide you through the paperwork and navigate the legal issues, but assist you with writing a contract to help save you money at the closing table. If you need help determining if you can afford to sell, call me to help make this part of the process easier.
[where: 75230]