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

If you’re preparing to sell your home in the near future, use these four tips to make your sale successful and profitable. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Sellers: Are you prepared for the spring market? I have some tips to set you up for success if you’re selling this spring. 1. Know the market. It’s essential to work with the right real estate professionals and experts in the industry who know what’s happening in today’s market. Right now, we are starting to see inventory levels increase, meaning that the amount of competition that you as a seller will have is also increasing. When that happens, we start to see a lot more competitive pricing and price reductions. Buyers are coming in and lowballing sellers, so it’s essential to partner up with the right real estate agent who will price your home correctly from the get-go and get your listing maximum exposure. 2. Get started early. With inventory levels increasing, it means more competition for you as a seller, which can lead to pricing wars. It is crucial and beneficial to get your home on the market sooner rather than later. The majority of homes will enter the market closer to the summer months, so jumping in now will allow you to beat your competition and sell your home faster and for a higher price.  “ It is crucial and beneficial to get your home on the market sooner rather than later. ”3. Get your home improvement projects done. First impressions are key, and this will likely help you sell your house faster and for more money. Maintain and update your curb appeal by doing things like adding new mulch, planting flowers, and improving landscaping features. Fresh paint on the exterior as well as updating to neutral paint tones on the interior, such as grays and beiges, are easy updates buyers seek. Fix any broken appliances and service your heating and air conditioning unit. Heating and air units, next to the roof, are the most problematic issues we face when negotiating repairs. 4. Replace worn carpet or scratched flooring. This will definitely help show a buyer that your home is in pristine condition. If you have any questions about getting your home ready to sell or if you need contractors to help get your home ready for the market, please feel free to reach out to us. We can also help you find out the right pricing for your home. We hope to hear from you soon!

We all know the usual things that can increase a home’s value, but here are some things you may not have thought of that can do so as well. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Here are four surprising factors that can increase your home’s value: 1. How close you are to a Starbucks. A 2015 Zillow report found that between 1997 and 2014, being located within a quarter-mile radius of a Starbucks could increase a home’s value by as much as 96%. The next time you’re out looking for a home, see how close it is to the nearest Starbucks.  2. Blue kitchens and blue bathrooms. According to Zillow’s 2017 Paint Color Analysis, which examined more than 32,000 photos from homes sold around the country, homes with blue kitchens sold for $1,809 more on average compared to homes with white kitchens. That same report stated that homes with light-pale blue to soft-periwinkle blue bathrooms sold for $5,440 more on average than homes without those color bathrooms. If your agent tells you bathroom color doesn’t matter, it might be time to look for a new agent.  “ If your agent tells you bathroom color doesn’t matter, it might be time to look for a new agent. ”3. Trendy features. According to a 2016 Zillow analysis of descriptions of more than two million homes sold nationwide, homes with barn doors or farmhouse sinks sold faster and for a higher premium on average. Homes with “barn door” in their listing description sold for 13.4% more and 57 days faster than comparable homes that didn’t have that term featured.  4. How close you are to a city. The average urban home is now worth 35% more than the average suburban home. Since 2012, the median value of homes located in urban areas has increased by 54%, while the median value of homes in suburban areas increased only 38%. The closer your home is to a city, the higher your sale price will likely be.  P.S., according to a Redfin study, homes listed on a Wednesday, Thursday, or Friday have a higher chance of selling closer to their asking price and selling in 90 days or less. If you have any more questions about factors that might increase your home’s value or you’re thinking about buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.

We want to send you useful, educational videos about real estate. What real estate questions would you have? Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale What questions do you have about real estate? What would you like us to cover in our videos?  Please send us your questions. Lean on us. Our real estate team sells over 200 homes a year. We work with a lot of clients going through difficulties in selling or difficulties getting qualified for a home. We’ve seen just about everything.  “ Send us your questions about buying, selling, or investing! ”If you have real estate investment questions, you can send those our way, too. My brother and I own over 150 rental investment properties worth over $32 million. Lean on our expertise and knowledge when making your own investment decisions.  So, make sure you send us your questions, and we’ll answer with a video. We can’t wait to hear from you!

If you’re selling your home in the near future, getting a home warranty can absolutely help you move your property off the market. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale One question we get asked on a regular basis is, “Can getting a home warranty help sell my house?” The answer to this is yes. Getting a home warranty is absolutely a good idea if you’re going to be selling in the near future. My team and I work with a company called Nations Home Warranty. They provide warranties on the sale of pre-owned homes just like a builder would on a new construction purpose. Their warranty covers any major problems that arise with the plumbing, electrical systems, heating and air conditioning, water heater, and sometimes even appliances in a pre-owned home for up to one year after purchase.  They cover single-family homes, townhomes, and condos, typically for a price of around $575.  “ Home warranty coverage provides peace of mind for both you and the buyer. ”A home warranty may sway buyers toward your property. If a buyer is looking at several homes and yours is the only one that they’ve seen offering a home warranty, your listing will definitely stand out. Home warranty coverage also provides peace of mind for both you and the buyer. If something goes wrong in the home, it can be fixed and replaced by the warranty company with a nominal deductible. When you sell your home with us, one of the benefits is that we can negotiate a free seller’s coverage.  So, when you’re ready to talk about selling your home, let us help.  If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Is buying a home in your plans for the new year? If so, we’ve got some great tips to share with you today. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale The holidays are behind us now and we hope your 2018 is starting out great. If buying a home is in your plans this year, you’re in luck because our topic today is the four demands that every buyer should make with the real estate agent that they hire: 1. Tell the truth about pricing. In this market, your agent needs to be able to walk you through their plan for getting the seller and the appraiser to accept that price that you’re offering. It’s imperative that your agent can defend your offer price by researching recently sold homes and justifying the price that way. 2. Understand your timetable to buy. No matter what time of year you decide to buy a new home in, you’ll need a good agent and a good plan to make the transition smooth. A good agent will make sure to minimize any problems. “ A good agent will minimize any problems. ”3. Remove as many of the challenges as possible. It’s imperative that your agent knows how to handle the various challenges that will arise throughout the process. An agent’s ability to negotiate and problem-solve is critical in this marketplace. If you have an agent that was weak in negotiating with you on parts of the purchase offer, don’t expect them to turn into a superhero when they are negotiating with the seller. 4. Finding the right house. There’s a reason you are moving and it’s important to you. You wouldn’t be dealing with the hassle of moving to a new home if it wasn’t. Don’t allow your agents to forget these motivations. A good agent can deliver good news, but a great agent can deliver the bad news. You may lose out on an offer or two, but a great agent will have a backup plan in place. If you have any plans to buy in the near future or if you just have any questions about real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

What can you do now to prepare for your 2018 home search? I have a few tips to share with you today. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale If you plan on buying a home in 2018, now is the perfect time for you to warm up for that house hunt so that you can hit the ground running in the new year.  From organizing your finances to finding the right real estate agent and mortgage lender, there is plenty to keep you busy. Here are a few things you can do now:  1. Check or know your credit score. Credit scores run from 300 to 850. The higher your score is, the better interest rate you will get. A lower interest rate can mean thousands of dollars in savings each year.  2. Don’t open up any new credit cards. First-time homebuyers often make this mistake. Even if opening a new card will get you a discount on that new TV, don’t do it just yet. Opening a new credit card can hurt your chances of getting a mortgage or the best possible interest rate, so please talk to us or your mortgage lender before opening a new line of credit.  “ Do not open up any new credit cards just yet. ”3. Ask for a financial gift this holiday season. Besides the mortgage loan, you will need a sizable amount of cash for the down payment, moving costs, closing costs, and repairs or updates.  4. Interview potential real estate agents. Your neighbor, relative, or friend might be a real estate agent, and they may be a great fit for you. However, you owe it to yourself to look around and find an agent who is knowledgeable and can assist you in reaching your end goal of homeownership as soon as possible. If you need any recommendations, give us a call.  5. Keep tabs on interest rates. This is one thing a lot of buyers don’t keep up with. If you hear that interest rates are at historic lows or that they are on the rise, you should not assume that you will get the rock-bottom rate. Not everyone gets the same mortgage rate. It depends on your financial situation and your lender.  6. Find your mortgage lender. Before you start looking for a home, it’s very important that you find a lender. If you can’t buy a home right now, it makes no sense to find your dream home and then find out that it’s just out of reach. Talk to a mortgage lender first. We can refer you to some great lenders, or you can ask your bank for recommendations.  7. Get pre-approved. Give all of your financial information to your lender. It will be painful at first, but it will show the mortgage company that you are a well-qualified buyer and that you are going to be able to pay your mortgage on time, making you a low risk of foreclosure. You will need to bring your tax returns, W2s, bank statements, and information on any credit card loans, student loans, or auto loans you have.  If you have any questions or want to get started on all of this, give us a call or send us an email. We would love to help you reach your real estate goals in 2018.

Whether you’re buying or selling, researching local school districts is crucial for appraising your home’s value. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Do school districts influence home prices? Conversations regarding schools and their effect on home values can be confusing, but a look at some firm statistics should help clear things up. It probably comes as no surprise that homes in the best school districts sell for a higher price. According to The RealtyTrac 2016 Schools and Housing Report, homes in zip codes with at least one good elementary school have higher values and stronger price appreciation over the long term than homes in zip codes without. But by just how much? According to RealtyTrac’s report, out of 1,661 zip codes with at least one good elementary school, home values averaged 77% higher than the average home value in 2,774 zip codes without one. That’s a big difference in price, consistent over a broad sample of zip codes. With these numbers in mind, it’s pretty clear that any decision on buying a home should include a thorough analysis of the school district, even if you don’t intend to send children to those schools. Good schools provide stability in the community, and that’s definitely good for your property value! “ Any decision on buying a home should include a thorough analysis of the school district. ”If you have any questions about your local school district, or you’re thinking about buying or selling a home, give us a call today at (972) 468-5017, or send me an email. We would be happy to help you!

If you plan on making upgrades to your home before you put it on the market, there are three improvements that you should avoid. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale What home upgrades will increase your home value? While there are many improvements that will improve the resale value of your home today, I want to go over three that you should avoid.  1. Adding a pool. You won’t recover the cost to install the pool when it comes time to sell your home.  2. Custom designs. Just because you like a specific design doesn’t mean potential buyers will. For example, don’t install blue carpeting. Even if you upgrade the type of carpet, buyers still won’t like the color.  3. Over-improving for the neighborhood. If you are in a $200,000 neighborhood and you remodel with marble, you are not going to recoup that value because it doesn’t match the condition of other homes in the area. You can overspend and lose money on improvements if they don’t line up with the neighborhood.  “ Make sure your upgrades line up with the rest of the neighborhood. ”If you want to sell your home and are curious about which upgrades are worth your while, just give me a call or send me an email. I would be happy to help you!

Short sales are making a comeback. Here’s what we can do to help. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Today’s topic is a tough one to talk about. Short sales are making a comeback in Dallas after they were last prominent during the market crash of 2007. A short sale happens when a homeowner owes more on a property than the property is worth. It could mean that the condition of the home is so poor that it would take more money to repair the home than it’s worth. When homeowners sell short, they are selling their home for less than the loan balance.  “ We are short sale experts ”Common candidates for short sales include people who bought a home at the height of the market, paid more than what the home was worth, or got a bad loan. We are still seeing some of those unfortunately.  We have a lot of experience dealing with short sales. We partner with an excellent attorney who helps us out with these. If you or someone you know is in a situation like this, let us know and we’d be more than happy to help out. If you have any other questions, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Today I wanted to clear up any confusion about home inspections and appraisals. Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for sale Today I wanted to talk about the difference between appraisals and home inspections. The purpose of an appraisal is for the lender to determine the home value. They want to make sure that they are protecting their assets, and that if they have to take that property back, they aren’t overextending on their loan and losing money on its resale. A home inspection is done for the benefit of the buyer. While the home is under contract, the buyer will hire a licensed, third-party inspector who will help determine the condition of the property. A general inspector will check out the roof, the structure, electrical, plumbing, and more.  “ A home inspection is done for the benefit of the buyer. ”This will give the future homeowner a clear picture of the condition of the home and prepare them for future maintenance issues, as well as negotiating any repairs before moving into the house.  If you have any questions about this topic or you’re thinking about buying a home, please give us a call. We would be happy to help!