Articles Tagged "DFW Housing Market"

Make Your Home Look Like Their Home! 

You've decided to sell your house. One of the most important things you can do to your house to help it sell faster is to stage it. What is home staging? It's pretty much what it sounds like – you are turning your home into a home theatre – setting the stage for potential buyers to see themselves living there. When you get your house ready to sell using home staging, you're showing off its good points, and re-focusing attention away from its weaknesses. And most of all you're helping buyers walk in and never want to leave.  

You know how fun it is to flip through a home furnishings catalog or website? That's what you're aiming for when you're home staging. Make it look like a catalog: clean, bright and spacious. Here are some tips to get your house showroom-ready: 

Home Staging inside: 

• Show off how much counterspace your kitchen and bathroom have by stowing away mostly everything. Make it hotel-room sparse, and add new hand soaps, and new towels and rugs to both rooms. Pare down items on coffee tables, bookshelves and walls.
• Remove all photos of your family, kid's art and personal objects on shelves. You want people to imagine themselves in every room.
• Less is more when it comes to furniture. Show off how much space each room has by paring down the amount of furniture in each room. You want potential buyers to be able to easily walk around. Group furniture into cozy conversation areas.
• Add some sort of work space to one or more rooms. Home offices are a hot seller in the current market. Show off how a room or two can have dual purpose.
• Stage a closet. Pick one bedroom closet and make it as neat as possible, using shelves, baskets and matching hangers. Scent the closet and leave it open to show off the great use of space.

Home Staging outside: 

• Power wash sidewalks, driveways and walkways as well as siding, bricks and stone. Make them sparkle like new.
• Repaint your front door a bright, cheery color.
• Replace your house numbers, mail box, welcome mat and your outdoor lighting if they are worn or outdated.
• Add a fresh layer of mulch to your flower beds and make sure you plant new colorful flowers. Trim trees and bushes.
• Set up a cozy outdoor sitting area on your porch, refreshing cushions and other fabrics if need be.

More tips for making home staging really pay off at an open house: 

• Add cut flowers to several rooms.
• Scented candles add atmosphere. 
• Make sure each room is light and bright – curtains open, lamps on. 
• Erase any sign of your pet, and in fact, keep your pet out of the house during open houses or showings.
• Add a luxury feel to bedrooms with plush rugs, fluffy comforters, extra pillows and fresh sheets. Style it like a hotel room.

Potential buyers want to imagine themselves eating, sleeping and hanging out in your house. Make it easy for them to do just that. 

The 2021 real estate market was a bumpy ride, with random periods of waiting thrown in for good measure.    

The year started off with a bang with surging prices and inventory down across North Texas. Housing inventory was down for two reasons:

• Low interest rates – Low interest rates had an interesting effect of both encouraging people to buy a new home while also encouraging others to stay put. Those who stayed refinanced and renovated their homes, putting further downward pressure on housing inventory. Those who wanted to buy found few homes on the market.
• Global building supplies shortage: The logistical disruptions of 2020 spilled over into 2021. This combined with the Texas recovery from February's "snow-mageddon" pushed the prices of building supplies ever higher.

By September, the housing market was still tight.  North Texas home sales fell but prices continued to rise due to a lack of housing inventory.  North Texas saw record gains in home prices:

"Dallas-area home prices jumped 25% year-over-year in September — the largest gain for the market in the history of the closely watched S&P CoreLogic Case-Shiller Home Price Index."

What will the new year bring?  Here are our three predictions for the housing market in 2022:

• Winter, spring, and summer seasons are going to be just as busy as 2021. We will continue to see multiple offers and a housing shortage.
• Interest rates are going to start creeping up starting at the beginning of 2022 and will continue increase to mid to high 3% by the end of the year.
• Prices are going to start leveling out and late 2022 and 2023 should be much calmer for the housing market.

If you have been thinking about selling your home, give us a call.

If the timing is right and you are ready, so are we.

Vacations are top-of-mind this summer, after everyone has been home for more than a year. We're all anxious to stretch our legs, see the sights and travel. Implement a few of these helpful tips for peace of mind on vacation.

Securing Your Home:
• Make sure all your doors and windows – even second-story ones – are locked. 
• Add a broomstick or metal rod to the inside track of your sliding glass door.
• Unplug the power to your automatic garage door to prevent access via a universal remote.
• Lock the door between your garage and the interior of your home.
• Make sure your exterior lights are all in working order. Pro-tip: add a timer and/or movement sensor.
• Home security systems are great. Pro-tip: video security systems that you can monitor from your phone are even better.
• Let your close neighbors know that you'll be gone and ask them to keep an eye out. Give them contact information for where you'll be on vacation.

Planning Ahead for Maintenance:
• Hire someone to mow your lawn while you are gone.
• Ask a neighbor to bring your trashcans in while you are gone.
• Ask a neighbor to water your plants and lawn periodically.

How to Make it Seem Like You're Still Home:
• If your blinds or curtains are usually open, leave them that way. (A closed-up look signals no one is home)
• Put a few interior lamps on timers.
• Ask a neighbor to drive your car around the block and park it in a different spot daily.
• Ask a neighbor to collect your mail. If you'll be gone for more than a week, place a vacation hold on your mail with your local post office. Pro-tip: you can also request a vacation hold from FedEx and UPS. Or, if packages are expected, arrange for a neighbor to gather them.

What Not to Do:
• Watch what you post on social media. The best idea is not to post your vacay pics until you've returned. Or, only share photos with your close friend group.
• Don't leave visible valuables in front of open windows. Move that computer.

These are easy steps you can take to make sure your home is safe while you are away on vacation – so you can really relax and enjoy yourself without worrying. After being in your home every day for so long, it's time for you to let go for a few days. Just don't forget to lock up and keep your home safe.

Spring cleaning season is upon us, and that can feel overwhelming. Whether you are preparing your home to sell, or starting your spring cleaning, break the process into smaller steps to make progress faster. 

Renew
Each year during spring cleaning we renew our love for our home – and our commitment to keeping it beautiful – by eliminating clutter. Clutter happens when items don't have a "home" to return to – a bowl for your keys, a bookshelf for your magazines, a hamper for your dirty clothes. Walk through each room and gather all the items that you know belong somewhere else, make a home for them and put them there.

Organize excess items into four groups: keep, recycle, donate or toss. Keeping your home clutter-free – and sticking to an organizational system – allows you more livable space, renews your sense of accomplishment, and ultimately means there is less to clean going forward. 

Repair
Next, freshen up your space with a good cleaning and repair assessment. Clean the areas we all forget about like baseboards, vents and ceiling fans. Don't forget both the inside and outside of your windows and window sills. Sunny rooms are definitely a plus if you're selling your home. 

If your windows have water damage, now is the time to get that repaired and repainted. Then think about adding new shades or curtains to enhance them. And bring the springtime outdoors in with a new potted plant or two.

Replace
Take spring cleaning a step further by replacing worn out parts of your home. Add a new coat of paint to a room, or just paint one wall, a ceiling or a door in a bright color. Or rearrange the furniture in a room for a fresh look, and replace throw pillows or pictures. You might be pleasantly surprised to see your room from a new perspective with the same items.

Window replacement, and kitchen and bathroom upgrades garner high returns when selling your home. Replace faucets, hardware, light fixtures and ceiling fans. Add energy efficient new appliances in the kitchen and laundry room. 

Remodel
Projects that are focused on modern style and energy efficiency are the remodeling projects to put on your to-do list this spring. Remodel your deck, your front door, your garage doors and your siding to get the best ROI when you're ready to sell.

Renew, repair, replace or remodel as part of your home's annual spring cleaning, and you'll not only maximize your home's value and your profit when you sell, you'll benefit right now from your efforts. You won't need to necessarily tear down walls or floors to freshen up your space this spring. You can make simple changes here and there and feel good about spring cleaning this year.
 

Small businesses are at the heart of every neighborhood. They are the backbone to our economy. That's why we try to support small businesses each opportunity we get. Who doesn't, right?
 
Ready? Here are a few of our favorite locally owned and operated small businesses:

• The lovely flicker and gentle glow of a candle helps ease and soothe the mind. B's Knees Fragrance Co. candles are our favorite. They also sell reed diffusers and oils. All their products are made in the U.S.A.
• The house made mac-n-cheese and devilled eggs at Big Al's Smokehouse BBQ are awesome! Their Bar-B-Cuterie trays are perfect for group lunches and small gatherings.
• The darling and delicious cheesecakes from Cheesecake Society can be ordered by phone or online and are available for pick up or contactless delivery. Try the Pecan Praline. It is Jeanne's favorite.
• Try Chocolate Angel's merengue cookies - they're yummy and gluten-free. They are hosting a Valentine's Tea at the Richardson and Plano locations. We heart this!
• According to a study, people with a good hairstyle feel smarter and more capable at performing tasks as opposed to those who are going through a bad hair day. We agree. That is why we have a standing monthly appointment at Hair by Jennifer Henry.
• Who knew some of the best Japanese food around could be found at a food truck? Try out the food at Hibachi Master. It will not disappoint.
• We love a good drink! Try Lockwood Distilling Co in Richardson or eight|11 in Frisco for a relaxing way to unwind after work.
• Dance not only builds flexibility and strength, but it also teaches emotional expression and empathy. PDT Dance Arts, with locations in McKinney and Prosper, is where Danée's daughter found her second home.
• Flowers help stimulate a sense of pride and excitement with others, and release serotonin – whether you grow, buy, give, receive or admire them. Anything from Petals & Stems makes us happy.

In late 2020, 67 percent of small businesses continued to experience negative business impacts tied to the pandemic, while 43 percent suffered "significant impacts," according to Alignable's State of Small Business Report.
 
We remain steadfast and optimistic that consumer confidence will rebound mid to late 2021. Cheers to all small business owners! We salute your perseverance, tenacity, drive and passion.

It was a record-setting seller's market in DFW residential real estate during the first three quarters of 2020, and it doesn't look like that's going to change any time soon.

During 2020, there were fewer homes available for sale in North Texas. Pair that with record low mortgage interest rates and record numbers of people interested in buying, and you have a strong seller's market. Homes sold quickly and often for over their asking price - 20% of homes in Dallas-Fort Worth sold above their list price in September.

Altogether, the economic recovery in North Texas was being driven in part by the housing market. Experts are forecasting this real estate trend to continue to impact the economy positively in 2021.

Will home prices continue to rise into 2021?

Throughout the first three quarters of 2020, a record 99,078 houses were sold, 8% more than during the same period last year. Prices for these homes reached record highs. Dallas County saw median home sales prices up 17.4% from last year and Rockwall County reached a 21% increase by October. The Dallas residential real estate seller's market is projected to grow in 2021.

If now is the right time to sell your home, we are ready to help.

If you are thinking about selling your home, let's connect! We can make this strong seller's market work for you.

Whether you are buying or selling a home, now is a great time to act.

In North Texas, the supply of homes offered for sale is the smallest since January 2018. And there are even more buyers actively looking for homes to purchase. Why is this big news? Glad you asked!

Ready to upgrade to a bigger house, or move to a different area of town?

You've added a kid or sent one off to college. You're interested in a more urban lifestyle. You want to live on some acreage off the beaten path. We know where the hidden gems are right now, and will help you sell your home quickly and then secure one of the few choice properties on the market that fits you perfectly – leveraging the equity in your current home to match your family to an even better one. Plus, mortgage rates have fallen below 3% and are likely to go up after the new year.

Homes are selling quickly and often for more than their asking price. Texas is no exception. The housing market is under-supplied, and the shortage is rising:

• Active listings in Dallas County decreased 19.9% from June 2019 to June 2020. But the number of homes sold increased by 8.6%.
• There has been a 36% decrease in month's supply of inventory in Collin County from June 2019 to June 2020. Closed sales in Collin County increased by 9% during the same time frame.
• The numbers are even more drastic in Kaufman County, where active listings decreased by 22%, while homes sold increased by 47.7%.

Have you been in your moderately priced house for a while now?

Your house is the most in demand; and you're most likely in a strong equity position. Selling your home while the interest rates for buyers is low and the pool of houses to choose from is also low, puts you in a very favorable position. Demand for houses is driving bidding wars and multiple-offer scenarios, and houses are selling quickly.

Selling and buying a home can be challenging. Let us make it easy for you!