DFW Housing Market Overview Oct 2019

Would you Like to know How Much homes are selling for in Your Neighborhood?   What's My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

Check Ego's at The Door

Would you Like to know How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

The Full Story of common Real Estate catchphrases in Texas

As a Real Estate Profesional, I often hear catchphrases that I feel consumers would appreciate additional clarification.

Would you Like to know How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

When Listing your home is staging required?

I am often asked if staging a home is required to sell a home. Are you truly required to spend lot's of money if you need to sell your home?

Would you Like to know How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

18 Important Points of Negotiation of a Home Purchase Offer in Texas

18 important points of negotiation when making or receiving an offer on a Single-Family Home in Texas

Negotiating an offer to purchase or sell a home is much more complex than most consumers recognize. Below I have listed 18 opportunities for negotiation on the Standard TREC 1 to 4 Family Residential Resale Contract. Not fully understanding each point of negotiation and how they affect the overall closing of the transaction could cost you Time, Money or the Sale or Purchase of your home altogether

                                                                                                                                                                                  

1.       Improvements (Line - 2 D. of Contract) – Are there items such as TV mounts, antique lighting fixtures, specialty doors or any other fixture that the seller intends to take with them when they move? Will the seller replace the removed items with new acceptable items before they move?

2.       Mineral Rights (Line - 2 E. of Contract) – Does the seller still own the mineral rights to the property? Will the mineral rights convey to the new buyer or stay with the seller? (Addendum would be required if the seller wishes to maintain mineral rights)

3.       Sales Price (Line - 3 of Contract) – What is the total purchase price? How much down payment will the buyer provide? How much in financing will the buyer require? (Addendum would be required if the buyer is using financing)

4.       Earnest Money Deposited (Line 5 of Contract) – How much earnest money will the buyer deposit with the title company?

5.       Title Company Used (Line 5 of Contract) – What title company will be used to close the transaction?

6.       Title Policy (Line 6 A. of Contract) – What title company will provide the title policy? What type of tile policies will be provided? Who will pay for the title policies “Buyer or Seller”?

7.       Survey (Line 6 C. of Contract) – Can an existing survey be used to close this transaction? If not, who will pay for the new survey?

8.       Title Objections (Line 6 D. of Contract) – How many days will the buyer have to review the title disclosure? What prohibited use or activities will be included as possible objections?

9.       HOA Documentation (Line 6 E. 2 of Contract) – Is the home being sold subject to mandatory membership in an HOA? If so, will the HOA addendum be used as part of this contract?

10.     Sellers Disclosure (Line 7 B. of Contract) – Is a seller’s disclosure required? If so when will the seller's disclosure be provided to the buyer?

11.   Upfront Repairs (Line 7 D. of Contract) – Is buyer requesting upfront repairs or treatments even before the inspection is complete?

12.   Home Warranty (Line 7 H. of Contract) – Will the seller contribute funds to purchase buyer home warranty?

13.   Closing Date (Line 9 A. of Contract) – What date will buyer and seller close on the home?

14.   Buyer Take Possession (Line 10 A. of Contract) – When will the buyer take possession of the home? If buyer or seller need a temporary lease an (Addendum would be required)

15.   Special Provisions (Line 11 of Contract) – Is there a detail that needs to be added in Special Provisions, applicable to the specific offer at hand, that TREC has not promulgated a form, lease or addendum for?

16.   Seller Paid Closing Cost (Line 12 A. of Contract) – Will the seller contribute funds on behalf of the buyer to help pay for the buyer's cost of closing on the home?

17.   Addenda to Contract (Line 22 of Contract) – What Addenda are being used with this specific transaction? Many Addenda are required by law or being used as best practice for the buyer or seller.

18.   Option Period (Line 23 of Contract) – Will the buyer have an unrestricted right to terminate the contract? (Typically used to have the home inspected) If so, how long will the option period last? How much will the buyer pay the seller for the option period? 
.

Would you Like to know How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

5 Things You May Not Know About The Real Estate Industry

xx

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

Pick Out Your New Homes at the Lakes of Argyle

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

“What’s The GOOD News?” March 2019

1.* CNN Money Magazine named Frisco #1 and Flower Mound #16 on the publication’s annual “Best Places to Live List,” which chooses 50 cities from the country to make the prestigious list. Frisco and Flower Mound are the only two Texas cities to make the list. They said Frisco has, “outstanding public schools – with more than 70 campuses, the Frisco Independent School District has the highest graduation rate of all the cities and towns MONEY evaluated this year.” They said Flower Mound, “has ultra-high school graduation rates, and modest home prices” in addition to plenty of indoor and outdoor activities, including water-skiing, camping, biking, The River Walk, Bottle and Bottega, the newly opened Play Street Museum, and many more.

2.* Recently, we toured some Dallas neighborhoods packed with seven-figure dwellings. Our tour guide was Steve Habgood, managing partner at Hewitt and Habgood Realty Group with Dave Perry Miller Real Estate. Habgood put into words what we were seeing on one luxury lot after another: "There is a lot of wealth in the North Texas region." Habgood showed us one home in Kessler Park. “That is going to be at $1,190,000," Habgood said. It’s not as big of an ask as it looks at first glance. More homes priced a million dollars or more have been selling in DFW in recent years than any other place in the state. “Every home around me has sold for 30 or 40 percent they were originally valued at," said Yogi Patel, who is about to upgrade and can’t wait to price his current residence in University Park between $1.7 million and $1.9 million. He is eager to sell his home because higher dollar homes are spending fewer days on the market, Habgood said. Patel says he is seeing evidence of that all around him. In the last two years combined, 3,716 homes costing a million or more have sold here. That’s a staggering 27.6 percent rise. “The million-plus market has been doing as good or better than all of the other segments in the marketplace," Habgood said.

3.* After living in Flower Mound’s Lakeside DFW area for a couple of weeks, Talitha Ledet noticed something was missing from the development: a grocery store. “I was sitting on my balcony one day and thought, ‘I just need a place here that I can walk to and get coffee, milk, eggs or something simple,’” she said. “I started walking around and talking to my neighbors and learned they felt the same way, too.” Ledet and her husband, Billy, launched The Market at Lakeside to meet those needs. “We carry a lot of the staple products,” she said. “We sell a lot of vegan and plant-based products as well,” Ledet said the specialty market not only attracts the Lakeside DFW residents but also those outside of the Dallas city limits who are looking for local brands. “We are able to bring big-city conveniences to a suburban, smaller storefront and make it easier for our customers so that they don’t have to drive to Dallas to enjoy some of their favorite local brands,” she said.

4.* If you’re a fan of shopping or sleeping, check this out: Dallas-Fort Worth ranks as one of the top metro areas in the U.S. for construction of retail and hotel properties. In the newly released 2019 Construction Outlook from commercial real estate services company JLL, Dallas-Fort Worth appears at No. 3 among U.S. metro areas for the number of hotel rooms set to open this year and at No. 4 for the amount of retail space under construction. According to JLL, 7,454 new hotel rooms — representing 5 percent of the entire national pipeline of lodging — are supposed to be ready this year in DFW. To put that into perspective, that’s equivalent to adding four Sheraton Dallas hotels. As measured by guest rooms, the Sheraton Dallas Hotel is the region’s biggest hotel (1,840 rooms). On the retail front, 3.3 million square feet of space is under construction in DFW, according to JLL. That’s equivalent to adding roughly 18 typical Walmart supercenters.

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

North Texas Market Update March 6 2019

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale "On The Go"  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

New Listing up in January! Your Dream Home Awaits!

New Listing up once again in the Month of January. Listings in January 2019 are up over 10% as compared to January 2018. The data provided by NTREIS supports the narrative that listings are continuing to rise creating a more neutral Real Estate Market. 

With more listing buyers have more product to choose from. Those who stopped searching for a new home due to frustration of lack of inventory in the past should start seeing more time and opportunity to locate their dream home.

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

A Few Simple Tips for First Time Home Buyers

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

“What’s The GOOD News?” February 2019

“What’s The GOOD News?”

February 2019

1.*   Sixth terminal in sights as DFW earns Airport of the Year title. Efficient operations, the addition of multiple international flights and strong partnerships with its airlines proved to be a winning combination for Dallas Fort Worth International Airport, which was named 2019 Airport of the Year by Air Transport World, a leading industry publication. Sean Donohue, CEO of DFW Airport, said the honor is the aviation industry equivalent of receiving an Academy Award. “In the next year we’ll see even more (growth),” Donohue said, so a sixth terminal is also in the airport’s near-term growth plan, Donohue said. “When we look at the next 10 years, we’re probably going to get close to 100 million customers, and we’re going to need more facilities,” he said. Airport officials have determined DFW will need 20 to 30 new gates over that period.

2.*   Plano's $3 billion Legacy West development has landed another major Japanese company. The hugely successful real estate project at the southwest corner of the Dallas North Tollway and State Highway 121 is home to Toyota's North American headquarters. NTT Data, a unit of Japan's Nippon Telegraph and Telephone, has its U.S. headquarters there, too. Now another big Japan-based firm, international insurance giant Tokio Marine Holdings, is putting a big office there. The financial firm, which has more than 35,000 employees in 38 countries, has rented more than 22,000 square feet of offices in the One Legacy West tower at Legacy Drive and State Highway 121. Tokio Marine has its U.S. main office in New York and is the largest property and casualty insurance firm in Japan. In 2017, the firm had assets valued at over $200 billion.

3.*   Multiple home builders in North Texas are responding to a growing demand in the national housing market: multi generational housing. One of those builders, Lennar Homes, expects to sell around 125 of its Next Gen houses this year in the Dallas-Fort Worth area. The Next Gen homes feature a fully-equipped suite built into them, designed to provide a private living space for an adult family member within the confines of the larger, family home. "It's a fully functional home within a home," said David Grove, the Division President for Lennar Homes in DFW. The new houses have a living room, a full kitchen, an accessible bathroom and ample closet space on the ground floor. There's a separate entrance and a door that leads into the main house.

4.*   A development group has bought property in Frisco for a 250-acre mixed-use project. The project is planned for Legacy Drive in Frisco, next door to the site where PGA of America is building its headquarters and golf courses. The property will be within walking distance of the Omni Frisco Resort Hotel and Conference Center planned for the PGA site as well. Stillwater Capital, DSF Capital and investor Stephen Summers formed the partnership to acquire the property. The new owners say they will seek zoning to develop the site for retail, residential, office, medical and hospitality buildings.

5.*   DFW is home to 4 of the top 20 trending suburbs, but which are the most popular rental markets? RentCafe.com’s latest study used data from Yardi Matrix and the US Census Bureau to look into renter population changes between 2011 and 2016 and the change in rent prices. As a result, the study found Flower Mound was the third most popular market in the nation. The renter population in Flower Mound went up by a staggering 115%, while the average rent increased by 22% between 2011 and 2016. In 2018, the average monthly rent in Flower Mound was $1,546 (up 22% since 2014), one of the highest in the top 20. Allen was the eighth most popular suburb in the country.

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

Shifting Market Not a Bad Thing

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

Should I Wait Until Spring to List My Home?

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

5 Step Plan "Pricing Your Home Correctly"

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

My Thoughts on Upfront Cash Incentives when Listing a Home

Subscribe to and view the complete Housing Trends Newsletter Here  Housing Trends News Letter

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here

 

More People Moving out of California and into Texas

North American Van Lines has released their 2018 Migration Report, which covers the state-to-state relocation of millions of Americans over each of the past seven years. While there are a multitude of reasons a family or individual might choose to move to a different state, these migration patterns provide important insight into the overall behavior of Americans looking for the location that best suits their needs, whether they be financial, educational, or occupational.

Follow the link below and find not only an interactive migration map of the United States, but also a list of the top inbound and outbound states, key takeaways that show notable changes in recent years, and regional breakdowns that detail important developments in those particular states.

Click HERE for NAMS 2018 Migration Map






Subscribe to and view the complete Housing Trends Newsletter Here  Housing Trends News Letter

See How Much homes are selling for in your Neighborhood?   Whats My North Texas Homes Value

See current homes For Sale here  Free Home Search App

Have a question? Reply to this post or contact me here Contact Me Here