By Tom Branch, on January 9th, 2012 
Lately, there have been a few online postings that referral fees should be illegal because they add cost to the consumer. I’ve read all the arguments, yet I’m not sure how they arrive at that conclusion.
I could see the argument, if I were to raise my cost to the consumer on transactions where I have agreed to pay a referral fee. While this may happen from time to time, I believe the vast majority of brokers see it as the cost of doing business. I either pay to advertise, farm, or some other means of acquiring new clients or I pay a referral fee to an out of area broker who has a client needing to buy or sell a property in my area.
While I don’t work relocation business, relocation companies collect referral fees from brokers who accept their relocation clients. Why is a broker-to-broker referral any different?
The bottom line is that unless brokers raise prices on transactions involving a referral fee, there is no additional cost to the consumer.
Photo: Licensed from iStockPhoto
Originally posted at http://www.referralagentsoftexas.com/2012/01/09/do-referral-fees-add-cost-to-the-consumer/
By Tom Branch, on December 31st, 2011 
Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:
Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.
The housing market is Fairview is very stable. This month we’ll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.
Median Sales Price
The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview. In November 201 the median sales price was $279,995 and it has risen to $307,900–a gain of 10 percent.
Days on Market
The Days on Market in Fairview remain stable at about 118 days. While this is slightly over the average in the local area, 118 days on market is still very good considering the higher price points in Fairview.
Months Supply of Housing
The months supply of housing is slightly over 7.9 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller’s market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area. Fairview had an 8.3 month supply of housing in November 2010. It sits at 7.9 months now–a decrease of 4.2 percent.
Feel free to contact us if you have questions or need any additonal information.
Photo: Copyright 2011 – Tom Branch | Source: NTREIS on December 30, 2011
By Tom Branch, on December 30th, 2011 
Allen Texas, located just north of Dallas, is a great little city and a wonderful place to live. The city continues to grow with plenty of developement–both residential and commercial.
The Allen housing market has been relatively stable. This month we’ll take a look at Median Sales Price, Days on Market, and Months Supply of Housing.
Median Sales Price
The Median Sales Price, which had been on the rise for almost a year, retreated some over the past few months. It appears to have stabilkized over the past month. Allen started the year at $196,475 and is now at $201,000. While .5 percent is not a huge increase, it is stable.
Days on Market
Days on Market has been on the rise for the past year yet remains below 90 days and below 2009 and 2010 levels. Allen started at 77 days on market and has risen to 82 days on market.
Months Supply of Housing
The Months Supply of Housing is very good at 4.4 months of inventory currently on the market. The National Association of REALTORS® suggests that a 6-month supply of housing is a balanced market. Supplies over 6 months indicate a buyer’s market and supplies less than 6 months indicate a seller market. Our experience is that homes that show well and are priced right continue to sell.
Please contact us at 214-227-6626 if you have any questions or want more information.
Source: NTREIS on December 29, 2011 | Photo: Copyright 2011 Tom Branch
By Tom Branch, on December 22nd, 2011 
I was talking with one of my new home builder sales consultants today. She related how several agents have been in with potential buyers and have commented that since the property has been listed for 120 days the builder should be willing to give the buyer a “huge” discount.
While I don’t really think that even applies to resale listings, it clearly does not apply to new home listings.
This particular property was listed while it was under construction and will not be completed until January 2012. The listing is correct in the MLS and we even have a comment in the property description letting potential buyers know that the property will not be ready until January.
“Days on Market” is not a public field within our MLS so it appears that some agents are simply searching by days on market, looking for “deals.” I would hope buyers agents would do a little research before coming out to the new home builder and demanding discounts!
My advice is to read the remarks in the MLS and don’t assume that higher days on market means a distressed seller willing to take a loss. This builder’s homes are selling fine and he rarely has any “spec” homes lying around.
High days on market does not equal a huge price reduction.
By Tom Branch, on December 18th, 2011
By Tom Branch, on December 14th, 2011  House flippers — made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit — played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. The impact that speculative real estate investors played in driving the housing downturn has mostly been overlooked until now, the researchers note.
The speculative investors used low downpayments and subprime credit in buying up multiple homes at once, the report says. Their actions attributed to home prices in some areas being inflated, researchers say.
House Flippers to Blame for Housing Downturn?
Source: “Flippers’ Housing Bust Role Larger than Thought,” The Associated Press (Dec. 12, 2011) via NAR
By Tom Branch, on December 1st, 2011  Licensed from iStockPhoto With Texas foreclosure sales set for next Tuesday, this is good news for many families:
Fannie Mae says it will suspend evictions for single-family foreclosures and two- to four-unit properties during the holiday season, from Dec. 19 through Jan. 2, 2012.
“The holidays are meant for families to spend time together, especially if they’ve gone through the stress of financial challenges and foreclosure,” Terry Edwards, executive vice president of Credit Portfolio Management for Fannie Mae, said in a statement. “No family should have to give up their home during this holiday season.”
While the holiday moratorium is in place, legal and administrative proceedings for evictions may continue, but “families living in foreclosed properties will be permitted to remain in the home,” Fannie Mae announced in a statement.
Source: Fannie Mae
|
|
Comments are closed 
You must be logged in to post a comment.