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

Wood Is Good: The Must–Have Material For Your Spring Home Spruce-Up

Wood Is Good: The Must–Have Material For Your Spring Home Spruce-Up

Thinking of sprucing up your home for spring? You're not alone; one in three homeowners say they'll take on at least one home improvement project in the first half of 2014, according to a recent survey by Burst Media. And it turns out, freshening your home for spring is a smart investment.

Home sales and prices are up, and mortgage rates are still considered low by historical standards. The combination is a recipe for a strong 2014 home remodeling forecast. Homeowners are regaining equity in their homes, and that confidence is expected to spur them to take on deferred projects for their own enjoyment, or upgrade their homes for sale.

In its annual survey, Remodeling Magazine reports that wood deck additions deliver the second highest return on investment of the home improvement projects surveyed. If you're looking for a way to make your spring spruce–up add value to your home, wood is a great option. Wood is known for its versatility, ease of use and natural beauty.

Whether you're looking to update your living space or transform your outdoor entertaining area, Mark and Theresa Clement, home improvement pros, offer simple, do–it–yourself tips for incorporating wood into your spring home improvement projects:

Prepping Decks for Spring Entertaining
"One of the best things you can do in the spring to spruce up your house is to clean and refinish your wood deck," Mark says. "The natural beauty of a well–maintained deck transforms a backyard into a gathering place."

After you've carefully cleaned the deck to remove dirt and debris, choose a finish. Both sealers and stains are designed to seal out elements. Clear sealers contain no pigment, allowing the natural beauty of the wood to show through. Stains may contain a little pigment (labeled as "tone" or "transparent"), be semi–transparent or come in solid colors. Avoid paint, which can form a film on top of the wood and bubble or flake.

Can't decide between a semi-transparent stain and a water–repellant sealer? Try using the sealer first. If you change your mind later, it's easy to switch to a semi-transparent stain when the deck needs to be refinished. If you do opt for a sealer, use one that contains ultraviolet light–blockers to protect against sun damage and mildewcides to inhibit the growth of mildew.

Add Crown Molding to a Room
Crown molding imparts an upscale, elegant air to any room — and you only need basic DIY tools to install it.

"Crown molding bridges the junction of walls and ceilings — a prominent visual location where an architectural accent can really shine," says Theresa. "While crown molding is a high–impact, higher–difficulty project, it's well within the abilities of most DIYers. Plus, you probably already have the tools you need in your toolbox — with a miter saw, nails and a hammer, you can transform your favorite room with a custom finish."

When choosing your molding, remember to keep a consistent scale from floor to ceiling.

You may be tempted to install a wide, impressive crown molding and skimp on the base or casings, but molding sizes need to be balanced throughout the room. Wherever possible, use corner pieces, plinth blocks and other transition pieces — they make installation simpler, minimize the need for miter cuts and help joints stay closed despite seasonal changes in humidity. Finally, don't paint your crown molding and trim. Instead, opt for a clear sealer and allow the natural texture of the wood to shine through, adding warmth, personalization and a natural touch to your interior decor.

Install Wainscoting
Wainscoting has long been a hallmark of fine construction and design. Wood paneling is applied to a lower section of wall — typically in dining rooms, but also in kitchens, hallways and even bedrooms. If you crave old–world elegance in your modern home, wainscoting is an easy, cost–effective way to achieve that look. Depending on the style you select and how you choose to finish your wainscoting, you can create whimsy or elegance, rustic appeal or modern sophistication.

If you choose to panel with wainscoting, it's important to ensure pieces are level. If yours will have a top cap, a router — a power tool used to bevel or round an edge on a square piece of wood — can provide nice detail at the top of panels. Finally, while wainscoting is frequently painted, there's no rule that says you must paint yours. Consider a simple clear sealer or semitransparent stain that will allow the natural beauty and character of the wood to shine through.

DFW Needs more homes NOW!

Construction Booms in Frisco

29 Showings in 3 Hours

One of our agents posted in Facebook that a hot new listing yesterday had 29 showings in three hours.   This unprecedented housing demand has never been seen in the DFW area before – few listings, so many buyers.

So Few Homes For Sale

In The Colony it is only 23 active pre-owned listings.    In Coppell, it is 51 active pre-owned listings, and in Flower Mound it is 118 active pre-owned listings.   Just name the market, and the inventory is LOW!   Ten years ago, Flower Mound averages 735 active listings in MLS, Coppell averaged 250 active MLS listings.  Projections for 2014 – a great time for sellers to make a move, the listing inventory will remain very, very low.

Home Prices Will Go Crazy

“Something is going to have to give (in the DFW market) or you are going to see prices go crazy,” said Mark Dotzour, chief economist with the Real Estate Center at Texas A&M.  “Forget about the housing bubble issue – this is really about supply and demand in the DFW market.”  Supplies of both new and pre-owned homes in the DFW market are at the lowest level in decades because of lower construction levels and record demand for properties.  “You have a huge increase in demand because of the change in buyer psychology,” Dotzour said.  “The normal supply side is constrained because of credit and availability of labor.”

-          Dallas Morning News, January 18, 2014

DFW Needs More Housing Now!

Texas economic growth is the envy of the nation.  But a shortage of homes for sale and soaring housing prices could threaten the state’s continued economic welfare, notes Mark Dotzour, chief economist for the Real Estate Center at Texas A&M.  “The number one economic challenge for Texas going forward is we don’t start building more homes and putting more subdivisions on the ground, the prices of housing will get so expensive that employers will no longer be able to attract workers.” 

-          Dallas Morning News, January 18, 2014

DFW Home Prices Escalating Rapidly

DFW area home prices are nearing ten percent over their peak in 2006, and continue to rapidly increase.  Ten years ago, nationwide pre-owned home prices were 30 percent higher than in the DFW area.  Now, national median home prices are less than 15 percent ahead of those in the DFW area, according to the National Association of Realtors.   And that margin continues to decrease monthly.   “When our housing isn’t cheap anymore, employers won’t be able to attract workers as easily,” notes Mark Dotzour, chief economist with the Real Estate Center at Texas A&M.  “It’s an absolute disaster for economic development and the future of North Texas.”

-          Dallas Morning News, January 18, 2014

Dallas Cowboys to Bring $23.4 Billion to Frisco, Texas

Dallas Cowboys to Bring $23.4 Billion to Frisco

Elizabeth Morris, CEO for Insight Research, recently presented to the Frisco City Council how the Dallas Cowboys mixed use development would impact the region.

Here are the details of the 91 acre project:

• This section alone will add around 400,000 square feet of new commercial space and 50,000 square feet of new restaurant space

• 2 Hotels plan to be developed

• An addition of 4,500 jobs by full development in 12 years which is the year 2026

“The Economic Impact she projected was 23.4 Billion in 30 years!”

She also mentioned that the tax revenue alone will bring the city of Frisco 1.2 Billion in the next 30 years!

AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX IST QUARTER 2013

Just the Facts

	AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX
			IST QUARTER 2013
	$310	Park Cities			$87	Richardson
	$249	Oak Lawn			$86	Bedford
	$202	Preston Hollow			$86	Euless
	$146	Southlake			$84	Rockwall
	$132	East Dallas			$83	Denton Area
	$128	Westlake/Trophy Club			$80	North Oak Cliff
	$127	Colleyville			$78	Hurst
	$122	Coppell			$75	Wylie
	$120	Northwest Dallas			$74	The Colony
	$118	Far North Dallas			$74	Ellis County
	$117	Lake Highlands			$73	Sachse/Rowlett
	$112	Fairview			$67	Arlington
	$111	Grapevine			$66	Kaufman County
	$105	Keller			$65	Garland
	$100	Frisco			$59	Cedar Hill
	$98	Plano			$58	Grand Prairie
	$97	Sunnyvale			$56	Duncanville
	$95	Flower Mound/Lewisville			$54	De Soto
	$95	Irving			$52	Mesquite
	$94	Allen			$44	Lancaster
	$91	Carrollton			$41	South Oak Cliff
	$91	McKinney			$40	Pleasant Grove
		Source, Dallas Morning News, April 2013

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U.S. Housing Starts - Back Over One Million in March 2013

DFW #2 Moving Destinations

Just the Facts

Dallas-Fort Worth Ranks as No. 2 Moving Destinations

Dallas-Fort Worth has been named as the second most popular moving destination in the nation, according to an annual study by moving company Penske Truck rental.   The data is based on the moving firm’s online consumer truck reservations.  Last year, Dallas-Fort Worth ranked as the No. 4 moving destination.  Atlanta continued to rank at the top spot.   The third top moving area was Phoenix.

-          Dallas Business Journal, January 14, 2013

You Are A Listing King With 2 Listings

That is what I am telling agents these days.  Every new listing is valuable, it is almost money in the bank if it is in good condition and priced right.   Case in point is Flower Mound.  Today it has 178 active listings; three years ago 550 active listings; ten years ago 750 active listings.  Yet ten years ago it took 140 days on market.  Today it is 60 days, and in the mid-range market approaching 30 days.  What a market!  And it was announced today that the number of home sales in January are equal to our great market in 2004 – just so few listings, and so few days on market.

-          Mark Wolfe, January 22, 2013 (with inventory input from Jeff Brand)

As Prices Rise, Rental Home Investors Seek New Markets

Rapid price increases are forcing real estate investors to shift their focus, and money, to new markets as they scramble to buy more homes to rent.   The California, Arizona and Nevada markets have skyrocketing home prices, even though they have not fully recovered from the 60 percent plus drop in home values over the past several years.  But the price trend is moving investors to Texas, Georgia and Florida.   Investment firms command $10 billion war chest to buy homes to rent.  Blackstone Group owns 16,000 homes, and is buying 2,500 homes monthly.  Colony Capital expects to invest $150 million monthly in home purchases in 2013.  It bought 5,000 homes in 2012.  Waypoint Homes, another California investor, currently owns 3,300 homes, but expects to own 10,000 by year-end.

-          USA Today, January 19, 20013 

5 Tasks to sell your home quick

Step 1: Assess The Value Of Your Property

Pricing your home right is the key factor in selling it in a reasonable amount of time. Setting a price too high will make your home undesirable to buyers. Pricing it too low may, in fact, deter buyers who wonder what's wrong with it - or simply not get you a fair price for your property. Now is the time to do your research.

How much should your house sell for? In other words, what's the 'right' price? It's the price at which homes similar to yours in the same neighborhood have sold recently. You can use the free online home valuation service to find out exactly what your home is worth if you plan to sell your house yourself. Alternatively if you plan to sell your house with an agent, a good Realtor can quickly give you a reasonable approximate price based on recent sales in your neighborhood, coupled with the condition and specifics of your house. A Realtor can also make specific suggestions for things you can do to prepare your home to sell for a good price.

Step 2: Figure Out How Much It Will Cost You To Sell

If you've never sold a house before, you may not be aware of all the associated costs. You'll need to know about these costs in order to help you adjust the asking price on your house, as well as to help you estimate the profit that you'll realize on the house. If you're counting on the sale of your house to finance the purchase of another, this is especially important. These out-of-pocket costs may include:

    Advertising your home, if you're selling it yourself. This could easily run into hundreds of dollars, depending on the methods you choose.
    Realtor commissions - typically 6% of the selling price.
    Closing costs, including attorney and other professional fees
    Excise taxes on the sale
    Property taxes and any homeowner association fees


Step 3: Take Care Of Any Needed Repairs

If you've been putting off getting the driveway fixed, repairing the roof or any other needed repairs, the time to do it is now, before you put your house on the market. Some repairs, left undone, will prevent your home from selling at all and others will bring your asking price down. Replacing broken roofing tiles, loose gutter shoring and other minor but unsightly problems will make your house that much more saleable.

Step 4: Get Your House Looking Its Best

Selling for the price you want depends on how appealing your house is. Take a good, hard look at your house, inside and out. Trim bushes, mow lawns, plant a flower bed. Something as simple as giving your siding and windows a good scrub down can freshen its look immensely.

Here are some other things that increase the chances of your house selling quickly:

    A fresh coat of paint, or just touching up the trim
    Freshly painted interior walls
    New carpet or flooring in common rooms like the kitchen or bathroom


Step 5: Have A Garage Sale

Get rid of all the accumulated clutter and pocket a little profit at the same time. That collection of kids' bikes in the garage may be a storehouse of memories to you, but to a prospective buyer they're just clutter - and they will make your garage look smaller. Clear away as much clutter as you possibly can. When you're ready to show your house, it should be as close to move-in condition as possible. The more easily a buyer can picture their own family in the house, the more likely they will be to buy.

   
       
       
   




   
       
           
               
               
               
               
               
               
                   
                   
               
               
               
                   

                        FABULOUS UPDATES WITH SPARKLING POOL
Gorgeous updates with sparkling pool!Everything has been updated so just move in and enjoy your pool and covered patio!Updated kitchen with large pantry open to huge family room. French doors open to covered patio and sparkling pool. Split over sized bedroom have large closets. Updates includes granite in kitchen and baths. Updated tile, windows and paint.
                       
                   
               
               
               
               
               

RE/MAX DFW Associates II

           Kim Raine
         
           Update in the The Colony with a Pool!!
           214 675 9436 (Cellular)
         
           http://www.kimraine.com
         



               
               
           
       
       
       

           
           
           

           
           
           

           
           
           

           
           
           

           
           
              
   





Information herein deemed reliable but not guaranteed
       

©2012 - 2013 Imprev, Inc.
       
       


   
       
     
   

The Fiscal Cliff Bill and its Impact on the Real Estate and Mortgage Industry

The Fiscal Cliff Bill and its Impact on the Real Estate and Mortgage Industry

With only three hours to spare before the midnight deadline on January 1, the Senate avoided the Fiscal Cliff by agreeing to a deal. Technically, the government went over the cliff, since the Senate's version didn't formally pass until two hours after the deadline, and the House of Representatives didn't approve the deal until close to 24 hours later. However the changes noted in the deal, also known as H.R. 8, will be retroactive as of January 1.

Here are a few of the provisions in the Fiscal Cliff Bill that affect the real estate and mortgage industries:

• Filers making below $110,000 can still deduct mortgage insurance premiums through 2013–and this was made retroactive to cover 2012.
• Mortgage cancellation relief–which is for home owners or sellers who have some amount of their mortgage debt (on their primary residence) forgiven by their lender in a situation such as a short sale, foreclosure or modification–was extended for one year to January 1, 2014.
• The 10% tax credit (limited to $500) for homeowners for energy improvements (energy efficiency tax credit) to existing homes is extended through 2013 and made retroactive to cover 2012.
• The rate for Capital Gains will remain at 15% for individuals at the top rate of $400,000 and $450,000 for a joint return. Gains over and above these amounts will be subject to a 20% tax. Remaining in place is the $250/500K exclusion for the sale of a principal residence.
• Individual estates will have the first $5 million dollars exempted and family estates will have $10 million exempted.
• Qualified leasehold improvements on commercial properties have been extended through 2013 and retroactive to cover 2012 and are subject to a 15 year straight-line cost recovery.

FABULOUS UPDATES WITH SPARKLING POOL Gorgeous updates with sparkling pool!Everything has been updated so just move in and enjoy your pool and covered patio!Updated kitchen with large pantry open to huge family room. French doors open to covered patio and sparkling pool. Split over sized bedroom have large closets. Updates includes granite in kitchen and baths. Updated tile, windows and paint. RE/MAX Premier Properties Kim Raine Update in the The Colony with a Pool!! 214 675 9436 (Cellular) http://www.kimraine.com

Information herein deemed reliable but not guaranteed	©2012 Imprev, Inc.

FABULOUS UPDATES WITH SPARKLING POOL Gorgeous updates with sparkling pool!Everything has been updated so just move in and enjoy your pool and covered patio!Updated kitchen with large pantry open to huge family room. French doors open to covered patio and sparkling pool. Split over sized bedroom have large closets. Updates includes granite in kitchen and baths. Updated tile, windows and paint. RE/MAX Premier Properties Kim Raine Update in the The Colony with a Pool!! 214 675 9436 (Cellular) 972 403 2040 (AccessLine) http://www.kimraine.com

Information herein deemed reliable but not guaranteed	©2012 Imprev, Inc.

Dallas-area home prices head sharply higher in latest Case-Shiller index By STEVE BROWN STEVE BROWN The Dallas Morning News Real Estate Editor stevebrown@dallasnews.com Published: 31 July 2012 08:34 AM Dallas-area home prices jumped by almost 4 percent in the latest national home price measure. It was the greatest rise in local home prices in more than two years in the closely-watched Standard & Poor’s/Case-Shiller Home Price Index. And Dallas' 3.8 percent gain in May from a year earlier was one of the largest such increases in Case-Shiller's comparison of 20 major U.S. home markets. Nationwide prices were still slightly negative on an annual basis but up 2.2 percent in May from April, according to the report released Tuesday. “With May’s data, we saw a continuing trend of rising home prices for the spring,” S&P's David M. Blitzer said in the report. "However, we need to remember that spring and early summer are seasonally strong buying months so this trend must continue throughout the summer and into the fall. "The housing market seems to be stabilizing, but we are definitely in a wait-and-see mode for the next few months.” May was the third month in a row for year-over-year gains in Dallas-area home prices in the Case-Shiller study. And it was only the second time since the recession and housing crash that the local price increase was so high. The last time was in January 2010 when prices were up 4.1 percent from year earlier levels. Twelve of the 20 major U.S. home markets Case-Shiller tracks for its monthly report showed year-over-year gains in May. The largest annual increases where in Phoenix, 11.5 percent; Minneapolis, 4.7 percent, and Dallas' 3.8 percent. The steepest declines in prices were in Atlanta, 14.5 percent, and Las Vegas, 3.2 percent. Shiller’s index tracks over time the prices of specific single-family homes in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers preowned properties — no new construction. The North Texas home market has seen a significant turnaround in 2012 after more than four years of declines. Preowned home sales in the area were 14 percent higher in the first half of the year compared with 2011 levels. And median home resale prices are so far 7 percent ahead of last year, according to data from real estate agents' multiple listing service. In some neighborhoods, houses are selling for more than asking price with multiple offers, according to agents.