May 2008

Texas Stadium!

We recently had the pleasure of attending a REALTOR(R) event at Texas Stadium. Standing at the 50-yard line looking at the goal posts at the far end of the field gave us a new perspective on how really difficult it must be to kick field goals from that distance! While standing there, we realized that the end of an era is close and soon the Cowboys will move to their new stadium in Arlington.

The City of Irving owns Texas Stadium and we understand that it will be torn down to make room for new multi-use development. We vowed to make a game or two this year before the Cowboys move to their new home. You can’t stop progress!

Report: Dallas-Fort Worth is a Good Place to Build Home Equity

Potential Dallas-Fort Worth homebuyers who are nervous about whether it's a good time to purchase a house might find some comfort in a new report. But analysts caution not to get carried away with the data.

The study by the Center for Economic and Policy Research and National Low Income Housing Coalition projects that D-FW homebuyers could see one of the best increases in equity in the country during the next few years.

Report: Dallas-Fort Worth is a good place to build home equity

Source: Dallas Morning News - Steve Brown

Dealing With Lowball Offers

When your home is on the market, a prospective buyer may come at you with a lowball offer. It’s hard to not get offended because you love your house, but you should keep emotion out of it. Remember that this is a business transaction and there are many reasons a buyer might present such an offer.

Many parts of Texas are growing and there’s an increased need for housing. This attracts investors, who may throw offers at the wall just to see if they stick.

A low offer might also be to see how desperate you are to sell. When there’s a high amount of inventory, especially foreclosure properties, buyers feel that they have the upper hand. Counter with something that you see as reasonable and see how the buyer responds.

Dealing with lowball offers

Source: Texas Association of REALTORs

Real Estate and Mortgage Newsletter - May 2008

Our May 2008 Newsletter is now available for viewing.

March's lead story is titled, "Moving on Up? Thinking About it?" Sometimes, making the decision to sell your house and buy a new home is relatively easy. What will you gain by moving? What will you lose? Get out a piece of paper...

Be sure to check out the charts on Page 2. Note these charts reflect trends across the nation rather than in the local DFW market.

Click here for our May Newsletter

Wired For Sound -- And Plenty More

Say you're on a business trip in L.A. and want to cool down your place in Dallas before getting home. If your residence has "smart" wiring and certain high-tech tools, you could log in on your BlackBerry and punch in the desired temp.

But that's just the beginning: You can control your lighting with a touch-screen unit, program your home's security system, even make sure Junior is doing his homework.

Wired for sound -- and plenty more

Source: Dallas Morning News - Lisa Martin

Showing Restrictions

I was scheduling showings this morning for a couple of potential buyers. I selected the properties and called the showing service to set up times to show them. In this market, I’m always amazed by the showing restrictions. I was told the seller requires a 48-hour notice and a 30-minute showing window for all appointments and the home is vacant! I passed on showing it.

As a heavy listing agent (about 50 per year), I understand there are times when restrictions are necessary due to special circumstances such as a baby, home schooling, elderly or sick occupants, etc. However, if a seller makes the home too difficult to show, busy agents will pass it up. If you have to have notice, ask your agent to put the restriction and reason in the private remarks section of MLS. Most of us are very understanding and will try to accommodate the need for advance notice. Try not to reduce the showing window to less than 2 hours. The amount of time a buyer spends in a property varies with their interest. If your home is the fifth showing of the day, it is very difficult to plan on a 30-minute window.

Buyers need to understand that it’s not always possible to show a home at the last minute as well. Routes need to be set up and showings scheduled in advance.

A little planning and courtesy can go a long way for both parties!

Author: Tom Branch

Are You Show-Ready?

We were out showing homes this week and began wondering why so many occupied homes are not properly prepared for showing. The sellers knew we were going to show their home several hours in advance and yet most of them were not “show-ready” when we arrived.

Homes sell on either emotion or price. Homes that create emotion with buyers sell faster and at a higher price. Many sellers hire a professional stager to help create that warm and inviting atmosphere. While professional staging is a great idea, we’ve seen staged homes that would look even better if they were “show-ready.”

What is “show-ready”? Click here for the complete article.

Source: Tom and Gina Branch