Dallas-Fort Worth Real Estate Podcast with The Good Home Team

For my latest Facebook Live interview, I’m answering some questions you might have regarding the state of the current market.

00:50 - Is it a buyer’s market or a seller’s market?

2:16 - How does current inventory affect home prices?

3:02 - Where are interest rates headed?

4:04 - What do recent market statistics mean for people looking to sell?

5:07 - What should people be aware of in order to make informed decisions about real estate?

6:52 - What can we expect from the 2019 market?

8:22 - How to find out what these conditions mean for you, specifically.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

According to a recent report, first-time homebuyer purchases are being made at their highest rate since 2005, and they’re up 1% from 2017. The main reason behind this is the fact that rents are rising at the fastest pace we’ve seen in almost two years. According to Zillow, the median rent rose 2.8% to $1,445 and has been experiencing the fastest pace of appreciation since May 2016.

We are personally seeing a huge demand from potential homebuyers under age 35 who want to stop renting and stop throwing away their money. In Collin County alone, there are 147 houses priced at or below $225,000 or less, which is a typical price range for first-time buyers.

Assuming a buyer is going to utilize an FHA 3.5% down payment loan program, a $225,000 home would cost roughly $7,200 out of pocket and result in a monthly payment of roughly $1,800. That’s not much more than what most people are paying in rent, and in some cases, it’s significantly less.

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If you’re tired of throwing away money on rent and are curious about how the home lending and buying process works, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Why is pricing your home correctly imperative in our current market?

As our market shifts, we’re starting to see more inventory accumulate. In Collin County, for instance, inventory is up 32% compared to this time last year. With more homes on the market, competition among sellers has increased.

If you price your home at market value, you’ll attract roughly 60% of all buyers in your price range. If you overprice it by 10%, you’ll attract just 30% of the buyers in your price range. If you overprice it by 15%, you’ll only attract 10% of the buyers in your price range.

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If you want to price your home correctly, work with an agent who will show you what comparable homes are selling for and prepare you for what’s coming down the pipeline. Rising interest rates are shrinking the buyer pool and forcing many buyers into lower price brackets, which means your home should not only be priced correctly, but it should be show-ready as well.

If you’d like to talk more about how to price your home correctly or you have any other real estate needs, don’t hesitate to reach out to me. My team and I would be happy to help you. 

I just wanted to thank you for coming out to our client appreciation event. We had a great turnout of people to see the new Winnie the Pooh movie, “Christopher Robin.” 

If you missed it, don't worry. You have another chance. We have our annual client appreciation party for the pumpkin patch coming up in October, so be on the lookout for that.

Also, if you haven’t heard, our team is involved in a 60- to 90-day competition right now. The goal is to see who can help the most sellers, so we would love to serve if you if you’re looking to list.

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If you know anyone who is thinking about selling their home in 2018, please let us know. We would love to talk to them and explain why now is the best time to sell their home.

Again, if you were able to do so, thank you for coming out to our recent event. We truly appreciate it and look forward to seeing you at our next one.

I want to personally invite you to our upcoming client appreciation event. For the second year in a row, we’re renting out the movie theater at Look Cinema for a screening of “Christopher Robin,” the new film featuring Winnie the Pooh and his friends.

Our event will take place on August 11, and we’ll be starting at 11:30 a.m. We’re giving the first opportunity to RSVP to this event to our past and current clients, as well as anyone we’ll be doing business with in the near future. The limit is four tickets per person or couple—for larger couples, we can make exceptions.

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For this event, we are partnering up with a special charity, the DFW Angels. Their mission is to help foster children, so they’re gathering up schools supplies to make sure that kids have enough supplies when they go back to school. We’re looking for items like new backpacks, lunch boxes, thermoses, Crayola crayons, No. 2 pencils, Elmer glue sticks, and similar.

We look forward to seeing you there! If you have any questions, please feel free to reach out to me.

I am excited to announce that we have partnered with a new technology, InsideMaps, to help you gain more exposure for your home. As I have mentioned before, the more exposure you get, the better chances you have of getting an offer. And, the better chance you have of getting an offer or multiple offers, the higher the sales price.

InsideMaps is a proprietary technology that we will be able to offer to all of our sellers’ listings. It will offer 3D technology in video format. Older 3D technology can take a long time to load and doesn't do much for the buyer's experience. 3D technology is also great for online rankings, so when buyers are searching for homes, this will come up in the video ranking, which means great news for our clients’ exposure.

Along with this, we will also offer floor plans on all of our listings. Floor plans are great for buyers who are relocating because they can see the layout labeled with the room type as well as the dimensions of each room.

This is also a great tool for homes that need to be flipped because a buyer can see the potential in the house. It provides the home’s current floor plan, which allows buyers to imagine how they might rearrange it.

No matter how it is used, InsideMaps is just one way that we can make your home more valuable in buyers’ eyes, which will encourage them to make an offer.

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If you are interested in learning more about this technology or are interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.

Today we’re announcing our partnership with our newest technology, InsideMaps. This technology will help you gain more exposure for the home you are selling. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale I am excited to announce that we have partnered with a new technology, InsideMaps, to help you gain more exposure for your home. As I have mentioned before, the more exposure you get, the better chances you have of getting an offer. And, the better chance you have of getting an offer or multiple offers, the higher the sales price. InsideMaps is a proprietary technology that we will be able to offer to all of our sellers’ listings. It will offer 3D technology in video format. Older 3D technology can take a long time to load and doesn't do much for the buyer's experience. 3D technology is also great for online rankings, so when buyers are searching for homes, this will come up in the video ranking, which means great news for our clients’ exposure. Along with this, we will also offer floor plans on all of our listings. Floor plans are great for buyers who are relocating because they can see the layout labeled with the room type as well as the dimensions of each room. This is also a great tool for homes that need to be flipped because a buyer can see the potential in the house. It provides the home’s current floor plan, which allows buyers to imagine how they might rearrange it. No matter how it is used, InsideMaps is just one way that we can make your home more valuable in buyers’ eyes, which will encourage them to make an offer.“InsideMaps provides the home’s current floor plan, which allows buyers to imagine how they might rearrange it. ”If you are interested in learning more about this technology or are interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.

If you’re going to hire an agent today, do you think that agent will hold you hostage as a client? The reason I bring this up is that we recently spoke with a homeowner who wanted to hire us to get their home sold. However, they were listed with another real estate agent at the time. We let them know that they would have to terminate their current agreement before hiring us.

When they went back to their agent and tried to get out of their agreement, the agent demanded a $500 termination fee, as well as a 2% commission. The agent was asking to get paid off work they couldn’t even get done, for whatever crazy reason.

We see this kind of thing happen a lot to innocent homeowners. Agents continue to put termination and cancellation fees in their agreements. But why?

If you were to hire our team to help you sell your home, you get our easy-exit agreement. It’s essentially a "get out of jail free" card. If you hire us, you can cancel our contract at any time if you are unhappy for whatever reason. You just have to give us 48-hours written notice. No cancellation fees, no termination fees.

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We put our skin in the game to ensure that we’re giving you the best service possible whether you’re buying or selling a home. Our goal is to help you reach your real estate goals without compromise.

If you have any questions for us or you’re interested in buying or selling a home with us, don’t hesitate to give us a call or send us an email today. We look forward to hearing from you soon.

Has our North Texas real estate market shifted? Let’s discuss how recent developments may impact your plans to buy or sell. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Signs indicate that a shift is going on in our North Texas market.  According to a Dallas Morning News article by Steve Brown, the Dallas-Fort Worth area was recently ranked among the top 10 US metros with the lowest year-over-year gains in terms of average asking price.  In fact, the average asking price for our first quarter market in the Dallas-Fort Worth area rose just 5% since this time last year. This is a far cry from the 13% year-over-year increase we saw for this figure between 2016 and 2017.  Median sales price has only gone up slightly more than asking price year over year, having risen 6% since the first quarter of 2017.  But these changes don’t come down to a simple market slowdown. Our market trends have run into a ceiling, and buyers are beginning to push back.  So if you’ve been on the fence about selling, don’t wait any longer. Many sellers have put their listing plans on hold, waiting for the market to hit its peak. But the skyrocketing gains we saw previously are a thing of the past, which means now is the perfect time to list. “Our market trends have run into a ceiling, and buyers are beginning to push back. ”Buyers are also in a great position right now, as the level of competition in our market has declined. If you have any other questions, would like more information, or want to discuss how we can help you buy or sell your home in today’s market, feel free to give us a call, send us an email, or visit our website: www.thegoodhometeam.com. We look forward to hearing from you soon.

When should you list your home? Let’s look over some recent data regarding this common question. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale People often ask me, “When’s the best month and the best day to list your home?” Well, according to ATTOM Data Solutions, selling your home in the month of May tends to earn the seller 5.9% over the estimated market value.  This is higher than what sellers tend to earn in any other month.   As for what day you should list your property, it depends on your goals.  Wednesday is typically the best day to list your home if you want to sell for more money. A 2017 Redfin study that examined 100,000 different home sales found that homes listed on a Wednesday sold for $2,023 more than properties listed on a Sunday. If selling faster is your goal, though, it’s better to list on a Thursday. According to that same Redfin study, homes listed on Thursdays tend to sell five days faster than those listed on Sundays. Homes listed on a Thursday also have a greater probability of selling within a 90- to 180-day time frame. “Wednesday is typically the best day to list your home if you want to sell for more money. ”Ultimately, now is a great time to list your home on the market, get it staged, and sell it for top dollar.  If you have any further questions, please don’t hesitate to ask. Or, if you are interested in listing in this prime month, give me a call or send me an email. I look forward to speaking with you soon.