National Association of Realtors’ Home Sales Report

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The Two Things You Don’t Need to Hear from Your Listing Agent

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You have decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

1.    Set the market value on possibly the largest asset your family owns (your home)

2.    Set the time schedule for the successful liquidation of that asset

3.    Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and your family in order to garner that degree of trust.  Make sure this is the case.

Be careful if the agent you are interviewing begins the interview by:

  •  Bragging about their success
  •  Bragging about their company’s success

An agent’s success and the success of their company can be important considerations when deciding on the right real estate professional to represent you in the sale of the house. However, you first need to know they care about what you need and what you expect from the sale. If the agent is not interested in first establishing your needs, how successful they may seem is much less important.

Look for someone with the ‘heart of a teacher’ who comes in prepared well enough to explain the current real estate market and patient enough to take the time to show how it may impact the sale of your home. Not someone only interested in trying to sell you on how great they are.

You have many agents from which to choose. Pick someone who truly cares.


Don’t Wait! Move Up to the Home You Always Wanted

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Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%.

However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease.  Look at the chart above detailing this point.

 


Just the Facts

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Remax DFW Only Has 358 Active Listings

Four years ago our company averaged 1,400 active listings, and that monthly number would drop to 1,100 during each year’s holidays.    As the market has changed from a buyer’s market to a seller’s market, the number of active listings has plunged.   Our current listing count is 35% less than one year ago for the start of the new year.   Listings sell within hours of activation.  Will this change in 2014?   Call me to discuss. If you would like to register to receive up-to-date market information for your neighborhood, log into www.YourHomesValueFREE.com and you will automatically receive the information.


2013 ends with record home sales for North Texas

11.9.14-2

Home sales for December were 9 percent higher than a year earlier, and prices were also 9 percent ahead.

A 17 percent jump in purchases last year pushed North Texas pre-owned home sales to their highest level ever — past the peak before the recession.

Almost 88,500 pre-owned single-family homes were sold in the region in 2013. And median sales prices were up by 10 percent from 2012 levels, according to data released Wednesday by the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.

Home sales for December were 9 percent higher than a year earlier, and prices were also 9 percent ahead.

“The strength of the D-FW economy continues to manifest itself in the form of strong job growth and housing sales,” said Ted Wilson, a principal with housing analyst Residential Strategies. “And it is not surprising that housing sales activity has eclipsed previous strong levels.”

Median home sales prices in the area last month were more than 30 percent above their level in January 2009, the worst point of the recent housing downturn.

Real estate agents say 2013 home sales would have been even stronger if they had more properties to offer consumers.

“We need listings so badly, it’s just terrible,” said Mary Frances Burleson, CEO of Dallas’ Ebby Halliday Realtors. “Everything we have had on tour has been sold.”

The inventory of homes listed for sale with real estate agents has dropped below 20,000 for the first time in almost a decade. In December, there was a record-low 2.6-month supply of pre-owned houses for sale in the more than 50-county North Texas region.

Even with the tight supply, real estate agents say 2013 was their best year in memory, with multiple offers for houses and bidding wars for top properties.

“What a fabulous year,” Burleson said. “We had the best year in our company’s 68-year history.”

There are some trouble spots in Dallas-Fort Worth’s latest housing sector report.

Pending home sales in December were down 11 percent to the lowest point in more than three years.

“Pending’s are down due to severely limited inventory and tough weather in December in your market,” said Ted Jones, chief economist with Stewart Title Co.

And many analysts are predicting that housing activity this year will be somewhat muted because of higher mortgage finance costs and the continued lack of inventory.

However, with continued strong housing sales numbers this winter, the outlook for the spring market has brightened.

Article by : Steve Brown


5 Reasons to Sell Before Spring

11.19.13

Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now.

Only Serious Buyers Are Out

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.

There Is Far Less Competition

Housing supply always shrinks dramatically at this time of year. The choices for buyers will be limited. Don’t wait until the spring when all the other potential sellers in your market will put their homes up for sale.

The Process Will Be Quicker

One of the biggest challenges of the 2013 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.

There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.

It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.


Dallas Fort Worth Foreclosure filings down 40%

bizbeatblog_files_2013_05_NB_17FORECLOSURE_50006_3394363-1024x684Area home foreclosures filings have dropped almost 40 percent compared to the first 6 months of 2012. Improvement in the economy and fewer layoffs is a large factor to fewer homeowners losing their home to foreclosure. Additionally, lenders are more open to modifying loans to help homeowners stay in their home. Higher home values have also enabled some homeowners to sell instead of having to negotiate a short sale or surrender to a foreclosure. This is good news to our local real estate market.

To see the full article, click here.


Home Shopping: Should you buy new?

Last year housing permits hit their highest level since 2008, according to the Census Bureau, and new-home sales grew 20% from the prior year.

“Builders are more optimistic than they have been for several years,” says Patrick Newport, an economist at IHS Global Insight.

An untouched abode offers advantages, of course, such as a sleek modern layout and few repairs. Buying an existing home, however, may allow you to seal the deal faster and can offer better short-term price appreciation.

Head-to-head comparisons can help you decide which choice better fits your priorities.  To see the full article and compare which is better for you, click here.


Foreclosure Sales fall in Dallas area, nation

By: Steve Brown

Researchers at CoreLogic said Tuesday that during the 12-month period ending in March, 10,361 Dallas area homes were sold by lenders at foreclosure auction.

That’s down about 10 percent from the previous 12 month period.

In March 1.3 percent of Dallas-area homes with a loan were in foreclosure – less than half the national rate of 2.8 percent.

About 1.1 million U.S. homes were in foreclosure, CoreLogic found.

“In March, completed foreclosures were down 52 percent from the peak in 2010 and almost all of the top 100 major metropolitan areas have declining foreclosure rates,”  Dr. Mark Fleming, chief economist for CoreLogic, said in the report.  “The foreclosure rate nationally is down 23 percent relative to a year ago, signaling continued reduction in the stock of distressed assets.”


Did you know the most expensive home for sale in US is in Dallas?

Everything’s bigger in Texas, and the Lone Star State has taken the title as the locale with the most expensive home for the sale in the United States. 

10000 Hollow Way, Crespi/Hicks Estate Dallas Texas, Architect Maurice Fatio designed Home 1939, Architect Peter Marino renovation 2002 Walnut-Hill-5555-DN-888-edit-cropped-550x327      10000 Hollow Way, Crespi/Hicks Estate Dallas Texas, Architect Maurice Fatio designed Home 1939, Architect Peter Marino renovation 2002  10000 Hollow Way, Crespi/Hicks Estate Dallas Texas, Architect Maurice Fatio designed Home 1939, Architect Peter Marino renovation 2002

The Crespi/Hicks estate in Preston Hollow, Dallas is a 1939 estate being offered at $135 million. The home, designed by one of the top architects of its time, was meticulously expanded and restored by the current owners.

To see more information and video about the Hicks Estate, Click here.