By Tom Branch, on January 17th, 2013 
“You know, we would really like to find a home on water.”
We hear these words quite often as people move into the north Dallas area. While there are many homes on water, the prices are considerably higher.
Why? Water is scarce in Texas.
Many of our lakes were built by the Army Corps of Engineers and while these lakes are available for recreational use, the Corps owns much of the land adjacent to the lakes and they do not allow homes on the water. In those places where they do allow access, land prices are quite high driving up the price of waterfront homes.
Many Waterfront homes in the urban and suburban areas are built on smaller, private lakes or running creeks. Most of the lakes are too small to allow docks or motorized watercraft.
If you’re willing to live in the more rural areas, lake homes and lots can be found at affordable prices.
Click here to view all waterfront homes for sale in the Dallas Fort Worth (DFW) area.
Click here to view all waterfront homes for sale in north Texas.
Contact us at 214-227-6626 if you have any questions about lake-front or other homes in the north Dallas suburbs.
Photo: Copyright 2011 – Imaged2Sell
By Tom Branch, on July 3rd, 2012  The National Association of REALTORS® (NAR) released its list of the 15 fastest growing cities in the country. Cities in the Lone Star State made up over half of the list!
According to the NAR report, “The state of Texas is growing fast. The state has eight of the nation’s 15 fastest-growing cities and six of the top seven, according to the U.S. Census Bureau, which evaluated population increases in 2011 for cities with more than 100,000 residents.”
North Texas did exceptionally well with 5 of the 15 cities. Local cities on the list include Plano (#4), McKinney (#5), Frisco (#6), Denton (#7) and Carrollton (#14). North Texas is an excellent place to live due to low unemployment, reasonable housing prices, good salaries, no state income tax, and a temperate climate. Many businesses are leaving other parts of the country and relocating to Texas for the same reasons.
If you’re relocating to North Texas, you can click here to begin your North Texas home search.
Photo Licensed from iStockPhoto
By Tom Branch, on April 23rd, 2012  Like many real estate professionals, I typically wear my name tag or some other logo apparel when I’m out and about. When people notice it, the opening question is usually, “How’s the market?” My answer these days is, “Hot!” Homes under $200k are flying off the market almost as fast as we can get them listed.
We listed seven properties in April–four of them are already under contract. As soon as a properly prepared, priced, and marketed property hits the market, the showings start and we have multiple offers in days.
Preparation, pricing, and marketing are the keys to generating traffic and emotional appeal.
As part of our pre-listing work we often recommend punch-out items and staging of the home. While punch-out costs vary with the amount of work to be done, it averages about $500. A couple of hours with a professional stager costs about $200. This is money well-spent and will be far less than your first price reduction.
Pricing is also important. Homes that are properly prepared will bring a higher sales price but homes that are more than 5 percent over market value tend to languish on the market. Price it right up-front.
Marketing is the final ingredient. Now that the house is prepared and priced right, it has to be well marketed. We use professional photography in all our listings. With over 90 percent of local buyers starting on the Internet, quality photography and well-written marketing text is critical to driving buyers into the home.
There has not been a better time to sell a home in the past 3-plus years!
If you’re looking for a professional team to sell your home in the North Dallas Suburbs, contact us at 214-227-6626.
Base Photo Used With Permission
By Tom Branch, on April 15th, 2012  “It’s a buyer’s market”, I hear those words at least once a week. They are usually accompanied by some low offer on one of our listings.
Newsflash! With the exception of homes over $500k, the buyer’s market in the North Dallas area is over. Properties that show well and are correctly priced are flying off the market. Many of our recent listings have fully executed contracts in less that 5 days. As a listing broker, it’s been nice to see the market shift back.
Recent numbers from the North Texas Real Estate Information System (NTREIS), the MLS in North Texas, show that we have about 4.1 months of inventory. For reference, the National Association of REALTORS® states that a 6 month inventory of homes is a balanced market. Levels above 6 months are a buyer’s market while levels below 6 months are a seller’s market.
If you’re a seller wanting to move this may be the best time in years to sell and be able to purchase a new home. Home prices are stable and interest rates are still at record lows.
If you’re a buyer, you simply cannot drag your feet or lob in low offers. If you do so, you may find the property is under contract or sold to a more reasonable offer.
Want more information on the housing market in Dallas? Contact us at 214-705-2470.
Photo licensed from iStockPhoto
By Tom Branch, on February 26th, 2012 
The past couple of months have been crazy! Homes that are in good condition, show ready, and priced right are flying off the greater Dallas market. It’s almost like the good old days. Two of our recent listings had multiple offers within a week of going on the market and several of our buyers had to pay list or above in order to secure a contract. The buyer’s market in north Dallas area is over in the under $200k price range.
There’s been a lot of speculation as to the reasons but many first-time home buyers have been sitting on the fence waiting for rates to bottom out or the economy to stabilize.
This may last well into the normal spring sales season unless something bad happens to the economy. The run-up in oil prices and the impact on fuel prices could send them back on fence.
If you’ve been thinking about selling your home and moving up this may be one of the best times in history to do so. Homes under $200k are moving, prices are likely at the bottom, and interest rates are insanely low. We closed a home a couple of weeks ago with a 15 year mortgage at 3.00 percent and another recent closing had a 30 year FHA mortgage at 3.875 percent.
We have many resources on our website:
Home Value Request – What’s my home worth?
Seller Tips
Are You Show Ready?
Looking for an experienced team of agents with a proven track-record to sell your home? Click here.
Feel free to contact us if you have questions or need more information.
By Tom Branch, on January 25th, 2012 
Wow! It’s hard to believe but it’s raining in North Texas. With Stage Four Water Restrictions looming, this is a welcome sight.
Last year’s drought left our lakes and reservoirs dangerously low. People living on Cedar Creek Lake and many of the local lakes could not get their boats in the water. A positive side was that it was a good time to do any repairs or maintenance on their retaining walls.
While low lakes may seem like an inconvenience, there’s a much larger implication for those of us living here. Those lakes and reservoirs are also the source of our drinking water. When the levels are low, cities begin the various stages of water restrictions in an effort to insure we have water to drink.
The droughts also have an impact on our homes. The vast majority of our foundations are slab foundations. These foundations are sensitive to changes in the water content in our expansive soils. Last year we saw a dramatic rise in homes with foundation issues due to the drought. This cost north Texas homeowners millions of dollars.
Let it rain!
Photo Copyright 2012 Imaged2Sell
By Tom Branch, on November 16th, 2011 
HomeSteps, a Freddie Mac real estate sales unit, kicked off a sales promotion this week to unload some of its inventory of foreclosed homes.
Its Winter Sales Promotion for owner-occupant buyers includes:
- Paying up to 3 percent of the final sales price toward the buyer’s closing costs for initial offers received between Nov. 15 and Jan. 31, 2012. Escrow must be closed on or before March 15, 2012, to qualify.
- Two-year Home Protect limited home warranty, which covers such things as the heating, air conditioning, electrical, plumbing, and other major systems and appliances. Home Protect also will offer a discount of up to 30 percent on the purchase of appliances. (For eligibility requirements, visit www.HomeSteps.com/smartbuy.)
Looking to purchase a foreclosure in the greater Dallas area? Contact us to work with a team of certified distressed property experts.
Source: Freddie Mac | Photo: Licensed from iStockPhoto
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