5 Reasons You Need To Hire a Professional

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3:42 PM (20 hours ago) Buying or Selling a Home? 5 Reasons You Need To Hire a Professional 1. What do you do with all this paperwork? Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality. 2. Ok, so you found your dream house, now what? According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream. 3. Are you a good negotiator? So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process. 4. What is the home you’re buying/selling really worth? It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $210,000 compared to $245,000 among agent-assisted home sales.” 5. Do you know what’s really going on in the market? There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much or offending the seller with a low-ball offer? Dave Ramsey, the financial guru advises: “When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Make your house look bigger without removing walls...

Instead of just asking me to help with his kitchen remodel, my friend made me an offer I couldn't refuse: Want to come over and knock down a wall?

While that's one way to make your house feel bigger, it's probably not the best option if you're putting your house on the market. Here are a few easier ways to add a sense of space.

Cut the clutter
Everyone knows they should do this, but few people go far enough. Don't put books and magazines in neat piles-get rid of them. Put knickknacks in storage, and pare down your furniture. It's better to have a few large pieces than several small ones.

Take a walk
Every house has natural paths, from the kitchen to the dining room or from the living room to the bathroom, and these walkways must be clear. You may not mind detouring around a large sectional to get from the TV room to the kitchen, but buyers will think your TV room isn't big enough.

Look around
Related to clear walkways are clear views. Keep tall furniture like bookshelves away from doorways, and pull back the shower curtain to expose the entire bathroom. Don't block any part of windows, sliding glass doors, or French doors.

Pick the right paint
If you plan to repaint some rooms, choose colors that feel cool, such as light blue or light green.

Add light
Not only will light colors create a sense of openness, actual light helps, too. Open curtains or blinds to let in sunlight, and consider adding a lamp to dark corners.

When you're done with these changes, ask for objective feedback from your Texas REALTOR®. He or she will know what buyers will focus on when they enter your house and which rooms might need more work.

RE/MAX DFW Associates Sets All-Time Record

RE/MAX DFW Associates set a new record in 2015, closing in excess of $1.67 billion in sales volume, up from $1.5 billion in 2014.  The average home sales price at our firm topped over $306,000 up from $278,000 in 2014.   Thanks to our agents for helping make 2015 a banner year.  Final numbers will be forthcoming.

2015 was the best year ever recorded for real estate in the Dallas-Ft Worth market

Expecting a great 2016!

Dallas Home Prices Now Almost 20% Higher Than Before Recession

Dallas-area home prices are at an all-time high and are now almost 20 percent higher than their prerecession peak.  Dallas-area prices were up 9.3 percent year-over-year in the latest Standard & Poor’s/Case-Shiller Home Price Index report.  There’s no sign of a Dallas home market cool down in the latest nationwide price report.  In factDallas-area home prices are at an all time high in the Case-Shiller report.  Local prices have jumped almost 40 percent since early 2012.

Case-Shiller’s study tracks over time the prices of specific single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties — not new construction.

-          Dallas Morning News, December 29, 2015

DFW-Area Homes Gain $55 billion in Value in 2015

With the big price gains, Dallas-Fort Worth area homes have increased about $55 billion in value this year, according to a new report by Zillow.com.  A just-released study by the Internet home marketing firm estimates that DFW homes are worth $411 billion – up from $356 billion a year ago. That’s a gain of more than 15 percent. Nationwide, Zillow estimates that the U.S. housing stock is worth $28.5 trillion, up from $27.5 trillion at the end of 2014.  “This reminds us of the large role housing plays in the overall economy,” said Zillow Chief Economist Svenja Gudell. “Total home value growth slowed this year, but there was still a significant increase in overall value, and many markets are more valuable than they’ve ever been.  “Americans are spending a lot of money on housing, and that will make affordability an important issue next year.”

-          Dallas Morning News, December 30, 2015

Dallas Home Prices Jump 14% in May

Dallas Home Prices Jump 14% in May

North Texas home prices jumped by 14 percent in May – one of the largest year-over-year gains ever for the area.  Median home sales prices hit a record $215,000 last month for preowned single-family homes sold by real estate agents.  Home sales were up 6 percent from May 2014 with 9,484 properties sold.  It was the largest one-month sales total ever for North Texas, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.  With the strong sales, the number of homes listed with real estate agents in the area dropped 15 percent from this same time in 2014. There was a 2.4-month supply of homes in real estate agents’ multiple listing service, less than half of what is considered a normal inventory.  May’s strong home sales and price spike will put more pressure on the local housing market which is stretched with more buyers than sellers.  National surveys show that the Dallas-Fort Worth area is seeing the largest annual home price gains in the country. Prices here are rising at about three times the long-term average rate of residential appreciation for the area.

-         Dallas Morning News, June 9, 2015

North Texas Median Home Prices Soar Above $200,000

North Texas Median Home Prices Soar Above $200,000

This spring’s scorching home market has propelled median house sales prices in North Texas above $200,000 for the first time.  In April, home sales prices in the area were up 14 percent to a record $207,000.  With the latest gains, the median price of preowned single-family homes sold by real estate agents in North Texas is almost 60 percent higher than it was in January 2010, at the worst of the recession.   And home prices in the area are now more than a third ahead of where they were at the previous peak of the housing market in 2007.  “The average home listing price has also jumped up for homes coming on the market,” said Ted Wilson, a housing analyst with Dallas-based Residential Strategies Inc. “More people are motivated to put their houses on the market at these higher prices.”  The Dallas area now leads the country in year-over-year home price increases, according to the latest national comparison from CoreLogic Inc.  In April, median prices were rising at about three times the long-term average annual growth rate.   April’s substantial increase in home sales prices in North Texas comes as some analysts are warning that residential values in Texas’ major markets are overheating.  A new report by Wall Street analysts Fitch Ratings said that Texas and Dallas-area home prices are 11 percent overvalued.

-          Dallas Morning News, May 8, 2015

For 11th Straight Year Texas Ranks as Top State to do Business

For 11th Straight Year Texas Ranks as Top State to do Business

CEO Magazine’s 11th annual survey of the “Best States to do Business” was released Friday and Texas topped the rankings for the 11th year in a row.  The news had Texas Governor Greg Abbott on cloud nine, saying the state won’t stop at its top ranking.  “Everything is bigger in Texas, and that includes our business climate,” Abbott said. “Despite being the number one state to do business for 11 consecutive years, Texas will do even more to empower businesses and increase economic expansion. That’s why I’m promoting policies to cut the business franchise tax, further rein in regulatory regimes and elevate our higher education system to bolster our workforce so that Texas keeps creating jobs and opportunity.”  In the rankings, Texas was ahead of Florida, North Carolina, Tennessee and Georgia which rounded out the Top 5. California was once again the worst state for a second year.  The rankings takes into account state GDP, unemployment, domestic migration, state government and state-local tax burden.

-          Dallas Morning News, May 8, 2015

A New 39-story Condo High Rise in the Arts District

      

The new 39-story condo next to Museum Tower    David Weekley InTown at 3 Locations

A New 39-story Condo High Rise in the Arts District

A 39-story tower planned for downtown Dallas’ Arts District will contain luxury apartments, artist lofts and retail space at Flora and Olive streets.   Developers will build a 39-story residential tower on one of the last vacant sites in the downtown Dallas Arts District.  The project at Flora and Olive streets is right next door to the Museum Tower and a block south of Klyde Warren Park.    The development will have 370 luxury apartments, 39 artists’ lofts and about 12,000 square feet of ground-floor retail space on the one-acre site between the Nasher Sculpture Center and the Meyerson Symphony Center.  “It’s a dense, urban project,” said Dallas architect Graham Greene, one of the partners in the project. “We took our inspiration from what has been done in New York, Los Angeles and San Francisco in their downtowns.   “It helps complete the Arts District — we have storefront retail all along Flora,” Greene said. “It adds a population of 400 to 500 residents, which is huge.”   Construction begins fourth quarter 2015.

-          Dallas Morning News, February 25, 2015

Top 5 Job Growth Cities in US

“Absolutely Phenomenal”

The Dallas-Fort Worth area added more jobs than any other metropolitan area in 2014, a feat it hadn’t achieved in at least two decades.  D-FW gained 136,900 jobs last year, followed by the New York area with 129,000 jobs, according to data released Wednesday by the U.S. Bureau of Labor Statistics. The Houston area was No. 3, with 120,600 jobs. The figures are not seasonally adjusted.  December was the first time that D-FW has ranked No. 1 in calendar-year net job growth since at least 1990, when the BLS began compiling comparable state and local records. Texas also led the nation in job creation last year, adding 457,900 jobs.  Bud Weinstein, an economist at Southern Methodist University, called D-FW’s 4.4 percent job growth rate last year “absolutely phenomenal.”   The 2014 job growth rates for both D-FW and Houston (4.2 percent) beat the state rate of 4 percent.- Dallas Morning News, February 4, 2015

Why Everybody Is Moving to Texas

Why Everybody Is Moving to Texas

Texas has become one of the hottest places to move to for both personal and business reasons over the past 5 years. In fact, over the past 5 years, more Americans—over 387,000 in 2013 alone—have chosen to move to Texas over any other state.

So what’s the big draw, y’all?

Best Reasons to Move to Texas

The number-one reason most people are relocating to other cities these days is their job situation—either they are looking to increase their earnings and career longevity or they have been unable to find a job in their current location and are moving for more opportunities.

The second most popular reason for relocating is housing affordability. For many people, these two reasons go hand in hand. Finding a place where they can secure a solid, good-paying job and purchase a home with increasing value in a nice neighborhood provides a great plan for long-term financial success and family security.

According to a recent study by Redfin, 9 of the top 10 fastest-growing U.S. metropolitan areas are those in which housing prices are the most affordable in the country. Of the top 20 fastest-growing cities, 5 belong to the Lone Star State: Austin, Houston, San Antonio, Dallas and Fort Worth.

Austin’s surge in population can easily be attributed to its consistently solid employment rate over the past 10 years. With an unemployment rate of just 4.6 percent and a projected growth rate of more than 4 percent by the end of 2015, Austin continues to have one of the strongest job markets in the state.

Another draw to the state is a low tax rate. This is especially important for many of the companies that are choosing to uproot themselves from the East and West Coasts and move inward to Texas. A lower tax rate and affordable real estate prices make it a no-brainer for larger companies wanting to save and smaller companies looking for a way to secure their financial future.

DFW Home Prices Rise 9.1% in October

CoreLogic: DFW Home Prices Rise 9.1% in October

Dallas-Fort Worth area home prices increased 9.1. percent in October year-over-year, outpacing the national average, according to the latest CoreLogic report releasedTuesday.   Overall, the country's home prices have been slowing down in the past few months and has only grown at moderate levels, according to economists.  "Home price growth is moderating as we head into the late fall and is currently running at half the pace it was in the spring of 2014," said Sam Khater, deputy chief economist at Corelogic, in a statement. "However, there are still pockets of strength, especially in several Texas markets, especially Dallas and Houston and other markets with strong economic fundamentals."   Based on CoreLogic projections, economists expect home prices to continue to rise, with home prices in over half of the United States to reach or surpass levels seen at the height of the housing bubble sometime in mid-2015.

-          Dallas Morning News, December 2, 2014

Dallas-Area Home Prices Reach Record

Dallas-Area Home Prices Reach Record

Prices of preowned homes in the Dallas area were up 7.4 percent in the latest Standard & Poor’s/Case-Shiller Home Price Index.  The gain in September from a year ago was the fourth highest in the country – significantly ahead of the 4.9 percent nationwide increase.  Home price increases nationwide have slowed in recent months, but in the Dallas area, the year-over-year price increases have remained steady.  Charlotte, North Carolina and Dallas continue to have price increases considerably above the national average.   Dallas-area home prices are now 12 percent higher than they were before the recession and at record level in the Case-Shiller index.

-          Dallas Morning News, November 26, 2014

NEW HOME SALES JUMP, RESALES DIP

NEW HOME SALES JUMP, RESALES DIP

Existing home sales slumped 1.8% in August – their first retreat since March, according to the National Association of Realtors. This followed gains of 2% or more in each of the previous three months. News about new home purchases was better: the Census Bureau recorded an 18.0% increase for August, more than making up for two months of declines. Keep in mind that these numbers may be significantly revised (as an example, May’s apparent 18.6% advance in new home buying was reduced to an 8.3% gain a month later)

DALLAS UPTOWN: High Property Prices

High Uptown Property Prices Pushing Dallas Development

to New Urban Neighborhoods

Is there life after Uptown for real estate developers?  For the last decade, the district north of downtown has been the hottest development market in Dallas.  But with prime land prices soaring past $200 per square foot and fewer empty lots to build on, commercial property companies are looking at nearby neighborhoods.

West Dallas, the Design District, the Farmers Market, South Side and near East Dallas are now at the top of apartment builders’ shopping lists.  “It is getting very difficult to justify dirt cost in Uptown, if you can even find a site,” said Ryan Miller of apartment builder Wood Partners. “With higher dirt prices, escalating construction costs and concern for rents capping out, it makes Uptown more and more risky.  ”We have been targeting alternative submarkets that are just as close to jobs and nightlife with dirt at a lower basis, which means we can keep our rents in check,” Miller said.

Wood Partners has rental communities under construction at the Farmers Market, in West Dallas and in the Medical District on Maple Avenue.  Most of these are neighborhoods that developers wouldn’t have crossed the street to look at a decade ago.  “We’ve done an incredible job in Dallas of pushing successful development into unproven areas,” said Greg Willett, vice president of Carrollton-based apartment consultant MPF Research. “We’ve done it with the Knox-Henderson area and the Design District.  “And I’m optimistic about the development that’s going to these other areas,” including West Dallas and the Farmers Market area, Willett said.   With average apartment rents for new units now running $1,800 a month in Uptown and downtown, Willett said it’s important for developers to offer locations with slightly lower prices. “If there is any concern about how much we are building, it’s how expensive it is and if we are going to run out of people who can afford the rents,” he said.

In the suburbs, retail and restaurants usually follow new rooftops.  But in booming West Dallas and north Oak Cliff neighborhoods, new housing is following successful restaurants and shops that have made residents comfortable with the areas.  “Sometimes the customer doesn’t know they want to be there because the product hasn’t been there before — you have to give them the product,” said Dallas developer Michael Ablon, who’s played an important role in turning the Design District into a popular restaurant and apartment address.

Ablon said many potential renters are being priced out of Uptown.  “They only product you can build in Uptown is the upper echelon — you can only do apartments at the premium price point,” he said.  But low land costs alone can’t be the basis for new urban neighborhoods, Ablon said. “In some of these other areas, I have a hard time knowing who really wants to be there,” he said.  Longtime Dallas real estate broker Newt Walker said Uptown is still ground zero for urban development in Dallas.  “If you build it in Uptown, they will come,” said Walker. “A lot of developers are crossing the Trinity River, but it’s still somewhat uncharted waters.  “The question is, what’s the depth of the market there?”

Apartment builders are betting that proximity to the central business district and postcard skyline views will bring young, professional apartment renters to nearby neighborhoods.  “People are excited again by the inner city and want a more urban lifestyle,” said Doug Chesnut, one of the founders of Dallas-based development firm StreetLights Residential. “We are running out of land — affordable or unaffordable — in Uptown, so we must continue to expand our geographic footprint.” 

StreetLights, which has built an Uptown apartment tower and has a second under construction, has contracted to purchase a former industrial site on Singleton Boulevard in West Dallas where it plans hundreds of new apartments and homes.  “The Calatrava bridge and Trinity Groves opened a new gateway to the west, just as other gateways are opening to new areas east and south of the central business district,” Chesnut said. “People are moving to North Texas, whether we like it or not, and we need to provide housing and amenities for those people.”

-          Dallas Morning News, September 19, 2014

New Report Shows DFW is a Top Market for Home Sellers

New Report Shows DFW is a Top Market for Home Sellers

Dallas-Fort Worth is ranked as one of the best markets in the country to sell a house, according to a new study. Zillow Inc. said the D-FW area is the fourth best place in the country for home sellers.  “Sellers in the Bay Area, Seattle and Dallas have the most negotiating power, with final sale prices largely at or above asking,” Zillow’s report says.  Zillow said that overall home prices in D-FW were up 5.8 percent in August from a year ago and there were about 5 percent fewer houses on the market.  U.S. home values will continue to rise during the year ahead, but at a slower rate than last year, according to Zillow.  D-FW home prices are forecast to increase by about 4 percent in the next 12 months.

-          Dallas Morning News, September 19, 2014

Dallas Skyline Voted Best in the World

We’re No. 1

Dallas Skyline Voted Best in the World

Eat that, Bid Apple.  Sorry, Chicago.  Dallas is No. 1.    Our fair city just took first place in USA Today’s Best International Skyline reader’s choice poll, coming out ahead of No. 2 Chicago for ultimate bragging rights.  USA Today cited our skyline’s colorful lighting, and pointed out that people flying in to DFW and Love Field airports get a great view at night.  The top 10 finishers: 1) Dallas, 2) Chicago, 3) Rio de Janeiro, 4) Toronto, 5)New York, 6) Washington, D.C., 7) St. Louis, 8) Hong Kong, 9) San Francisco, and 10) Seattle.

-          Dallas Morning News, September 9, 2014

Dallas Home Prices Growing Faster Than the Nation

Dallas Home Prices Growing Faster Than the Nation

Dallas-area home prices are growing faster than the nationwide rate, according to the latest study by CoreLogic Inc.  Dallas prices rose by 9 percent from a year ago in July, according to CoreLogic’s new report.  That’s ahead of the 7.4 percent nationwide increase.  The largest increases were in Riverside, Calif. (13.8 percent) and Houston (11.8 percent).  CoreLogic forecasts that nationwide home prices will grow by almost 6 percent over the coming year.  “Home prices continued to march higher across much of the U.S. in July.  Most states are reaching price levels not seen since the boom year of 2006,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.”

-       MetroTex News, September 2, 2014

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Texas Economy Continues to Boom

Texas Economy Continues to Boom

The Texas economy grew faster in the second quarter, thanks largely to the booming energy industry and strong commercial real estate activity, according to a report by the Federal Reserve Bank of Dallas.  Employment growth is a big part of that picture. Texas’ annualized job growth rose from 2.4 percent in the first quarter to 4.3 percent in the second quarter — the strongest pace in nearly nine years. And that happened even though employment growth slowed in May and June.  The state’s job creation is outpacing the nation’s in all major industries except construction, manufacturing and other services in the first half of 2014. The Dallas Fed forecasts 3.5 percent employment growth this year, or 400,000 new jobs.

-          Dallas Morning News, August 11, 2014

Dallas-Ft Worth’s Economic Growth Outpaces Texas

Dallas-Ft Worth’s Economic Growth Outpaces Texas

The Dallas-Fort Worth economy has grown faster than the state average and its employment has increased faster than any other Texas major metro area in the first half of the year, according to a report issued yesterday by the federal reserve Bank of Dallas.  DFW employment has grown 4.5 percent this year through June, compared with 3.5 percent growth with Texas.  Local job creation in the second quarter (5.5 percent or 42,600 jobs) outpaced first quarter growth (3.4 percent or 26,500 jobs).  Most of the region’s employment gains have come from fast growth of the Dallas economy, which has added jobs at a 5.4 percent pace in the first half of the year.  The professional and business service sector saw the most growth.  Manufacturing is the only local industry to lose jobs (-700) in the first six months of the year.

-          Dallas Business Journal, July 22, 2014