Ellis County Real Estate Podcast with Krissy Mireles

Here’s the first thing you should do as a first-time homebuyer. Here at the Krissy Mireles Team, we pride ourselves on working with first-time homebuyers, and we do things a bit differently than other real estate teams in this regard.  I know that we’re in a fast-paced market, but if you’re a first-time homebuyer, I’d like you to take a step back for a second and invite you to schedule a first-time homebuyer consultation with me. This benefits you because you should be informed and capable of making decisions for yourself and your family throughout the home buying process. How do you do that? By getting information.  If you sit down with me at my office, we’ll go over a myriad of information. Not only that, but I’ll show you what a contract looks like. I want you to be familiar with it so that when we actually prepare an offer, you feel comfortable and confident throughout the rest of the home buying process.  “Interest rates are still historically low in our market, so now’s the time to take advantage.” There’s nothing like working with an agent who doesn’t tell you what to expect when buying a home. Once you make an offer, you’ll get bombarded with information you don’t know how to respond to. What happens then is you’ll likely get overwhelmed and decide now’s not the right time to buy. We want to ensure this never happens to you and that you make the decisions you need to make when buying a home. Our real estate market is so fast-moving that it doesn’t give you much time to think during a transaction. You have to make decisions quickly.  Interest rates are still historically low in our market, so now’s the time to take advantage. If you give me a call, my team and I will take you to the finish line. As always, if you have questions about this or any real estate topic, feel free to reach out to me as well. I look forward to hearing from you.

“Cash is king,” as they say, but here is a more nuanced look at cash offers. I’ve been in the real estate business for more than 26 years, and I’ve never seen so many cash buyers in our marketplace—it’s truly dumbfounding! So, for all you potential homebuyers out there, I figured it was high time to review the pros and cons of submitting a cash offer.  Here are the four major pros:  Quick close. By paying cash, you can close a real estate transaction fairly quickly. Now, speed may not be advantageous to a seller who lives in the home and needs time to find their next house, but simply having the ability to close quickly is always a positive.  No appraisals. Sellers love not having to worry about issues arising from an appraisal. If a buyer originates a mortgage, the bank will only lend them the amount for which the property appraises, and negotiating the gap between the offer price and appraised value can be tricky. Saving money on closing costs. Thousands upon thousands of dollars will stay in your pocket. While cash is king (especially in multiple-offer situations), we are seeing instances of cash buyers bidding beyond list price to secure a home in this low-inventory market—yes, our market is so competitive that cash buyers need to be on their toes! Now, that isn’t the case for every multiple-offer situation, but it is something to take into consideration when you’re trying to find the best way to structure your cash offer.  Foreclosure fears are eliminated. Not having to originate a mortgage means you’ll never be foreclosed on due to default. Of course, you do still need to pay your property taxes.  “If you buy with cash, you may be missing out on a sizable tax deduction.” Here are the three main cons:  Dumping all your money into one asset. Consult with your accountant and attorneys before buying a house via cash offer, as it may not be the most prudent use of your cash on hand. Instead, you may want to invest that cash differently to generate income.  Liquidity. If plans change or life takes a drastic turn, you may not be able to get money out of your property as quickly as you’d like.  Tax deduction ineligibility. If you buy with cash, you may be missing out on a sizable tax deduction. When you originate a mortgage, you get to write off the mortgage interest.  As always, if you have additional questions on this or anything other real estate topic, please reach out to me via phone or email and I’d be more than happy to chat with you.

Here’s our latest update on what’s going on in our market. Ellis County currently has 1.5 months of inventory. What does that mean for you? Well, in a buyer’s market, we’d have six months or more of inventory. Ours is a very, very strong seller’s market—I’ve been in this market for nine years now and I’ve never seen our inventory this low. There are certain price points where there simply may not be any homes available to buy, and where there are homes available, there aren’t enough to meet the demand. If you’re looking for a starter home in a nicer neighborhood, be prepared to spend between $225,000 to $250,000. If you’re a seller who has been thinking about making a move, now is the time to do it. Once the election is over, I’m not sure what to expect. Will the marketplace still perform the same way it is now? Maybe it will, maybe it won’t. Many people in the industry predict that we’ll see an influx of foreclosures, which could deflate home prices. I’m not sure if I subscribe to that belief yet, but I do know that if you sell your home now, we can get you top dollar in record time with the fewest inconveniences. “Our market is phenomenal and unprecedented.” If you’re concerned about selling your home during the pandemic, know that I’ve been selling homes without people ever having walked into them. Not only that, but I only need a handful of showings to sell a home. If you want to get the best possible price for it, however, you may need to allow buyers to visit it in person. Will we ever have a market with these kinds of conditions again? I can’t say. But that’s why you need to take advantage of it right now. Now, if you’re looking to buy a home, we’re very successful at helping our clients navigate this market regardless of whether they have a contingent or non-contingent offer—we have different ways of doing things to make sure that our buyer clients are the award-winning bidders among their competitors. Also, interest rates are spectacular right now, making homes more affordable for you. Whether you’re looking to buy or sell, contact the Krissy Mireles Team today. We’ll get you to the finish line.

Now more than ever, it’s critical that you pick the right lender for your real estate transaction. I’m a listing agent, meaning that buyers and their agents come to me with lenders from all over the place, including local lenders, out-of-state lenders, and companies like QuickenLoans. As a seller’s agent, it’s important to not only look at the offers submitted to my clients but to also vet their lenders. If there was anything that I could change about the real estate industry, it’d be the way the lending process is handled. Things are often done at the last minute, and though I know why the lenders do that, it would be a real boon if more lenders had their packages clear to close and ready to get to the finish line a couple of days in advance as opposed to trying to push those right before the closing date. When people don’t make it, lenders don’t make it. If you’re working with a Realtor and they recommend three to five lenders, please listen to your Realtor’s reasoning behind their recommendations. They’ve probably built up relationships with these lenders, and if they’re giving the lenders decent business, the lender will want to make sure that their Realtor client is well taken care of, along with the borrower. “Your lender can make or break you in a real estate transaction.” On the Krissy Mireles Team, we surround ourselves with a myriad of lenders who are winners. These are companies who have been in the lending industry for over 30 years; they know how to package loans and get their clients to the finish line—plus, they’re ready to close days in advance. Not many lenders can say that. In the end, make sure to vet your loan officers by asking them the right questions. Ask them about their success rates, how quickly they close loans, how often their closes are delayed, and where you can find testimonials from other clients. Knowing the answers to these questions can make all the difference when it comes to closing on time. If you’re looking for a good lender yourself or have any questions about the real estate process, please reach out to us. We’d be more than happy to provide you with a list of lenders who are known for closing promptly. Hope to hear from you soon!

Here’s why I don’t think we’ll see a wave of foreclosures hit our market. Being a top agent means surrounding yourself with successful organizations and agents who handle a ton of sales volume. In order to provide top-level service to your clients, you have to be improving all the time.  I’m telling you this because I keep my finger on the pulse of what other successful agents and real estate organizations are saying to gauge what’s happening in different markets and what the future’s expected to bring; I don’t always agree with what others agents predict for the future.  For example, right now, many are saying that we’ll see an influx of foreclosures over the next 12 to 18 months—specifically, a rise of 7% to 8%. Mind you, these agents are scattered around the globe in different marketplaces, but I don’t subscribe to this theory for our Texas market because of our lack of inventory. The week before I recorded this video, I saw that Waxahachie, a city with a population of about 40,000, only had 140 homes for sale. Midlothian, with a population of roughly 30,000, had just 112 available listings. We don’t have an oversupply of building either, so if a foreclosure wave hits Texas, we’ll fare pretty decently.  “There are way more cash buyers in the marketplace than we’ve ever had, so your home may get multiple offers and sell over asking price.” Now, these same agents that predict a wave of foreclosures are cashing out of some of their properties because now is the time to get a deal. If you’ve been out in the marketplace, you know that we’ve been in a strong seller’s market for the past couple of years. If anything, our strong seller’s market has gotten even stronger as it’s emerged from the shelter-in-place ordinances.  So if you’re a seller who’s been sitting on the fence, now’s the time to jump off and get top dollar for your property. There are way more cash buyers in the marketplace than we’ve ever had, so your home may get multiple offers and sell over asking price.  Will our real estate market ever get back to normal? Only time will tell, but if you’d like to start your home selling journey right now, give me a call and I’d be happy to help. If you have any other questions about the market, feel free to reach out to me as well. I look forward to hearing from you. 

Demand is surging in our market—here’s what that means for you. Now that the shelter-in-place orders have relaxed, it’s time for a quick update on our summer real estate market.  Nobody expected the market to rebound like it did, but it’s crazy out there. There’s been a surge in demand, and according to a recent NAR survey, pending home sales skyrocketed 44.3% from April to May. That’s the largest one-month jump in the history of the survey, which dates back to 2001.  The pandemic, of course, is what’s primarily driving this surge. Another factor behind it, though, is the ultra-low mortgage rates we’re seeing. I thought they were low a couple of years ago, but now they’re getting ridiculous! If you’re looking to buy a home, now is the time because you’ll be able to qualify for a higher sales price (if that’s your intention). The average for 30-year fixed-rate mortgages stands at 3.13%, which is more than a 0.5% drop compared to last year. Don’t forget about refinancing, either. If you purchased a home four or five years ago at a 4% or 5% rate, it’s definitely worth your while to refinance your property.  “Nobody quite expected the market to rebound like it did, but it’s crazy out there.” The last factor driving this surge is the lack of inventory. Supply for existing homes at the end of May was 19% lower than it was in May 2019. Some sellers preferred to take their homes off of the market when the shelter-in-place orders were enacted, and that has created bidding wars for homes still on the market. People are overpaying for properties again.  What does all of this mean? In short, we’re in a strong seller’s market. Again, if you’re on the fence about selling, now’s the time to jump off and generate top dollar for your home. To quote the NAR survey I mentioned above: “As a result of lack of inventory, prices are rising, bidding wars are becoming common, and homes are selling quickly.” It’s not clear how long this situation will last, so time is of the essence. If you contact the Krissy Mireles Team today, we’ll get you across the finish line no matter what your goals are. If you have any other real estate questions, feel free to reach out to us as well. We look forward to hearing from you. 

In July, our Give Back Program can help you save on your home sale. Today, allow me to explain our Give Back Program. If you’ve been considering putting your home on the market, now is the time to connect with our team.  During July, if you contact us and schedule a listing appointment to talk about what you can get for your house on the market, and say “Promo code: give back” we’re going to give back to you. These have been challenging times, so we want to give back to our clients. You don’t necessarily have to be in need. We speak to buyers, sellers, renters, and investors, and some people’s lives haven’t been affected much, but others are losing jobs, getting their hours cut, and having to relocate.  We’re taking this case by case, and we want to hear your story. We want to find what the best fit is to give back to you. Some of the things we may do include discounting the listing commission or paying for a pre-listing home inspection, which will help you prepare your home for the market. If selling your property is something you’ve been thinking about, reach out to us today so you can be entered into our Give Back Program.  “These have been challenging times, so we want to give back to our clients.” Not only do we want to help with your home sale, we also want to put more money in your pocket. However, even if you miss out on this program during July, we can still save you money on your sale. We care, and we want to help. If you have questions about our Give Back Program or anything else concerning real estate, please call or email us. We would love to help you.

Here’s what the rise in cash homebuyers means for you. As a team that handles a lot of volume, we’re negotiating deals every day and have a pretty good feel for the market. One trend that has been sticking out, as of lately, is that there are a lot of cash buyers out there. These aren’t just cash investors. These are people who are using their hard-earned money and putting it into real estate. Last weekend, my team was up against multiple offers on every single offer that they submitted. I was working with four different buyers, and every single one was in a multiple-offer situation.  “This is an ideal time to sell your home for top dollar.” These cash buyers are really bringing it, as in they’re bidding list price or more to win these properties. This makes things much more competitive for the rest of us.  If you’re a homebuyer with financing, it’s going to be tough to compete with a cash buyer who doesn’t have any contingencies. This means that you need to put your best foot forward on every single offer. Especially in the price point from $200,000 to $500,000. It’s a fast and furious seller’s market. If you have any questions about buying a home, selling a home, or investing in real estate yourself, don’t hesitate to reach out via phone or email. We look forward to hearing from you.

How did the Texas real estate market finish during the first quarter of 2020? I have the latest news for you today. Although real estate is considered an essential business, we’re still sheltering in place. Despite that, we have the latest news and numbers from the Texas real estate market for the first quarter of 2020.  I read an interesting article recently that said, among other things, that Texas home sales increased in the first quarter of 2020. During the first quarter, 75,052 homes were sold. That was a 7% jump compared to the first quarter of 2019. The median price also increased by 5.1% to $241,500. The largest percentage of homes sold across the state was in the $200,000 to $299,000 price point. Here in Ellis County, that’s right in our sweet spot. The article goes on to say they’re not sure what will happen in the second or third quarter. However, as long as people get their jobs back, we should continue to have a strong market.  “The industry is moving in the right direction for now.” Going into this pandemic, our market as a whole did not have an oversupply of real estate, which is a good safeguard. Specifically in Ellis County, we have just 2.4 months’ worth of inventory. That’s less than halfway to a buyer’s market. I’m hoping and praying that when we get out of this, unemployment numbers drop back down. If that’s the case, we may fare well later in the year. What this article is really saying is that until we see those numbers for Q2 and Q3, we won’t have a clear picture of the effect that this crisis is having on our market. The good news is that we went into this disruption with positive velocity and we will be ready to come out the other side with a swift recovery. In the meantime, opportunities are everywhere and we Texans always outperform expectations.  Going into shelter-in-place, I was worried about our team’s numbers and whether the home sales would go down in Ellis County. So far, our numbers have been about the same as they were last year, maybe even a little bit better. Buyers still need to buy and sellers still need to sell and the industry is moving in the right direction.  If you have any questions for me about what’s going on in your area, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.  

UV light has been proven by scientists to be highly effective at killing germs. Our friends at Kirk AC want to help you add UV light to your current HVAC system. I’m hunkered down right now just like all of you, but today I wanted to talk to you about UV light and why you should add it to your HVAC system right this second. If you’re at a higher risk of contracting COVID-19 and seeking every advantage possible to help protect yourself, UV light may be a good solution. According to Lincoln Tech, broad-spectrum UV light has the capacity to kill microbes and won’t damage living human cells. It also has the ability to kill small viruses and bacteria in the air, in your body, and on your surfaces. Kirk AC is a family-owned business in downtown Dallas that specializes in adding a UV air purification system to your existing HVAC system. To learn more about how they can help you, watch the short video above.

We’re doing things differently right now in regards to helping our clients buy and sell homes. Here are some of the changes we’ve made during these uncertain times. If you’re in the real estate marketplace as a buyer or seller right now, I want you to know that our team will start doing things differently in order to help as many buyers and sellers as we can navigate through real estate transactions during this time. Washing hands and social distancing is the name of the game, so here’s what we’ll do: If you’re a buyer who needs to buy but are nervous about becoming exposed, we will FaceTime you to show you the property, take video tours if needed, and make sure you have all the information you necessary to make an informed decision.  “We can still help you buy or sell a home at this time.” If you’re currently in the process of selling your home, we can get it listed and sold without having anyone come inside. With the technology we have today, we can easily navigate you through a home sale. We’re going to use video conferencing, staging, and your cell phone to make sure your home appeals to buyers online. What I want to leave you with is this: Have faith, not fear. Of course, we need to be doing all we possibly can to protect our families and stop the spread, but we’re going to continue to help buyers and sellers get the job done. I’m currently in the process of buying an investment home, and I can help you with that, too. If you have questions about the precautions we’re taking in this market or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.  

Here’s why investing in real estate now can help you enjoy life later on. Do you want to work for the rest of your adult life? Even past retirement age? Perhaps the cost of living will be so high that you’ll have to. I’ll tell you this secret: That’s not where I want to be!  If you’re also on that page, then it becomes important to build wealth and create residual income for yourself. Real estate is a great vehicle to have some mailbox money coming in. You can pick up some rental properties (ensuring, of course, that you’re positive cash-flowing on those rental rates) so that you can have monthly income to help you get out of the rat race.  “Real estate is a great vehicle to have some mailbox money coming in.” We have put some programs together here at the Krissy Mireles Team for individuals who are serious about this strategy. Of course, you should always strive to diversify your investment portfolio, but our program helps folks achieve their real estate goals specifically.  If you’ve thought about increasing your cash flow through investing in rental properties, please reach out to us today and we will help you build some residual income. Why not relax when those retirement days come around, knowing that your financial needs are taken care of? As always, please feel free to email or call us regarding any other real estate topic. We’re here to help you.  

Today I’m discussing the importance of having an inventory of all the items in your home in case of disaster or crime. Today I want to discuss the importance of having an inventory of everything in your home. The reason why I chose this subject now is that it’s the start of a new year. “Having an inventory of your property is critical.” I want to make sure you’re protecting yourself so that if something happens, your life has been made a little easier. Also, in case of disaster or flooding, having an inventory of your property is critical. You should walk around your home and film each room, and take pictures of the serial numbers of all the big-ticket items in your house. Your cell phone is the perfect tool to use. Then simply upload the videos and photos to a secure place like iCloud. If something unfortunate happens, this will be one less thing to worry about. You’ll be glad you did it.  If you’ve been considering buying, selling, or investing in real estate, please contact us by phone or email. We would be more than glad to help you. We would also like to thank everyone who has worked with us this year. We look forward to helping more people in 2020!

  Now that 2019 is almost behind us, it’s time to take a look at what’s on the horizon. Coming up in the near future, Dr. Mark Dotzour will be hosting the annual Old Republic Title’s Economic Forecast. My team and I have had the pleasure of attending for several years, and, if you’re a Realtor, you need to go, too.  Not only is this event incredibly informative, but it’s also exceptionally funny. Dr. Dotzour has a great stage presence, and manages to make every subject he covers exciting and fun to hear about. I especially love hearing him speak about the consumer confidence index—the measure of how apt local consumers are to keep spending over time.  If you aren’t able to attend, though, allow me to give you a brief preview of what Dr. Dotzour is planning to touch on. First of all, all signs point to 2020 being a great year for local real estate and the local DFW Metroplex economy.  Prices are expected to continue to rise over the year ahead, though, so anyone thinking of buying soon should take advantage right now, while it’s still affordable to do so. The bottom line is that, whatever your real estate goals may be, my team and I are here to help you make the most of them. We are always here for you and are so thankful for your support.  “All signs point to 2020 being a great year for local real estate and the local DFW Metroplex economy.”  Speaking of giving thanks, we hope you and your loved ones have a very happy Thanksgiving. We can’t overstate our gratitude for you this year (and always). I hope your Turkey Day, and your entire holiday season, is full of food, family, and fun.  If you have any other questions or would like more information about anything I’ve talked about in this message, feel free to give me a call or send me an email. I look forward to hearing from you soon.

A lot of people don’t have the means to rent or to put their possessions into storage while they search for a new home; using a contingency contract allows them to move from one property to another without making a double move. In today’s second installment in my series on contingency contracts, I’ll show you how to prepare your home if you’re considering going through with this ‘domino deal’ (click here to see my video on home staging): If you’re going to navigate the marketplace as a seller with a contingency contract, it’s almost mandatory that you put your home in its best light. You’ll need to price your home correctly per its market value, or perhaps even a little below. That way, you can get your property under contract with a buyer as quickly as possible and a higher chance of the seller accepting your offer. “Never reschedule buyers when they ask to view your home; let them come as they deem fit.” To position your home in the market properly, you’ll also need to do more than price it correctly and stage it—you’ll also need to have a very, very flexible schedule for showings. Never reschedule buyers when they ask to view your home; let them come as they deem fit. You’re trying to generate an offer quickly so that you can get to the next one, and delaying their visits will not only extend the time period in which you need to sell your home, but it may also cause buyers to pursue other options. When you do find a home that you love, you’ll also need to structure your offer depending on its price point. If you’re shopping in, say, the $275,000-or-below range and the home you find is in good condition, you’ll probably find some competition in the form of multiple-offer situations. Since you’re a contingency buyer, you’ll need to put your best foot forward to have the seller even consider your offer. You’ll have a harder time in a multiple-offer situation if you don’t have a buyer for your current home by the time you place an offer on the home you’re attempting to purchase. In my next video, I’ll discuss more about how to structure an offer so that yours wins out amidst a crowd of competing buyers. I hope you found this information valuable! If you have any questions or comments about contingency contracts, feel free to reach out to me.  I’m always available for you.

You’re ready to put your home on the market and make a move, but you need the proceeds from your sale to go toward your next home purchase.  If you don’t want to do a double-move or you don’t have the time or resources to move into a temporary rental, you need to know how to navigate the contingency contract.  I can tell you from experience that, depending on your price range, contingency contracts can be super stressful. There are many sellers with contingency contracts trying to locate properties in the $250,000-and-below range, and the majority of them have to compete in multiple-offer situations against non-contingent offers. “If you don’t want to do a double-move or you don’t have the time or resources to move into a temporary rental, you need to know how to navigate the contingency contract.” This is why I’m starting a series dedicated to the ins and outs of the contingency contract—to teach you how to present this type of offer in its best light so that you sell your first home for top dollar and purchase your next one without needing to do the double-move.  The first video will explain how to position your current home on the market successfully. After that, we’ll talk about how you can make your best offer possible. So stay tuned to learn everything you need to know about this topic.  If you have any questions or any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d love to help you.

I’ve been selling real estate for over 25 years and in that time, I’ve learned many tips and tricks about how to get homes sold for top dollar with the least amount of inconvenience to our sellers. I went and researched home staging, and found that a survey of 4,500 homes that were staged said that 68% of them sold for at least 9% more than a non-staged neighbor’s. I truly believe the difference can come down to staging when it comes to selling for top dollar. However, I don’t think you need to spend thousands or even hundreds with a professional home stager. They do a fantastic job, but I think soft staging your home with your own things can be successful as well. “Soft staging is the way to go.” Soft staging can make a huge difference in the way your home is perceived. All you really need to do is declutter, depersonalize, pay attention to the details and the lighting, and that can change the ambience of your home drastically. When agents are showing homes, they could be showing anywhere from three to five a day, so they don’t have time to stage it themselves. To prepare your home to put it on the market, I think that soft staging is the way to go. Perception becomes reality. Organize your closet and your garage and that will go a long way. You don’t have to be an organized person to do this. As long as your home is organized while you’re showing it, buyers will pay more money because they get the perception that your home is well-maintained. I hope you found this information on staging helpful. If you have any questions for me or need any help staging your own property before you list it on the market, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon. 

Today I’m delighted to be joined by Tom Bartosh with Prime West Mortgage to talk a little bit about the lending world.  I’ve been working with Tom for probably about six years now. He’s one of our preferred lenders for a reason. He has closed every transaction on time, every time. Not only does that show he’s on top of the ball, but it also shows that he’s a joy to work with. Tom has been in the business since 1987. He loves what he does. He loves helping people through the mortgage process, and he loves to see closings. He makes the whole process fun. “If Tom sends me a pre-approval letter for a buyer, I know that it is golden.” How is he able to close on time, every time? It all starts off with his loan application process. It’s a thorough document that takes into account the entire picture of the buyer. He’s also an expert in all of the different loan programs that are available out there.  If Tom sends me a pre-approval letter for a buyer, I know that it is golden. Now the ball is in my court to find them the best possible home, and they’ll take over from there. Oftentimes, Tom and his team are ready to close early, which is always a fantastic surprise. Right now, Tom has a lot of different loan programs available for first-time homebuyers. There are grants, low down payment options, and much more. There are about five different programs that Tom has been utilizing. Tom loves working with first-time buyers and seeing the look on their faces at the end when their home closes. Although Tom is an expert himself, he couldn’t do what he does without his team. His loan processor, Tammy, has been working with him for 25 years and is an integral part of his process. If you have any questions for Tom or you’re curious about what kind of home you can afford, give him a call at (972) 935-9200 or send him an email to tbartosh@primewestcorp.com. If you have any other questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon. 

The market is beginning to heat up in Ellis County, and recent data definitely reflects this. For one thing, inventory remains low. With just 2.6 months’ worth of homes available on the market, sellers are in a prime position to sell quickly and for top dollar. Even at this comparatively low level of inventory, though, buyers are beginning to gain some leverage. The number of available listings has risen since last year, while the total number of closed home sales is actually down. “Take advantage of these market conditions while they last.” Also, while the average sales price has gone up since 2018, the list-to-sales price ratio has dropped. This, in conjunction with the fact that listings are taking longer to sell, indicates that sellers now need to be more flexible if they want to strike a deal.  The bottom line is to take advantage of these market conditions while they last. We’ve hit the peak of the real estate cycle, so don’t delay.  If you have any other questions, would like more information, or are curious about how I can help you make the most of your real estate goals, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

As a seller this spring, there are a few do’s and don’ts to be aware of if you’re prepping your home to sell quickly and for top dollar in our real estate market.  For your convenience, I’ve timestamped all the do’s and don’ts you need to remember from the video above so you can skip ahead at your leisure. In each section, I’ll also explain why each one qualifies as a “do” or “don’t”: 0:47—Do: focus on curb appeal projects2:19—Do: make bathroom updates 2:51—Do: install new windows 3:40—Don’t: pay for extensive professional landscaping 4:06—Don’t: install a new roof, gutters, sprinklers, or HVAC unit5:12—Don’t: add a swimming pool and/or personal spa 5:42—Don’t: paint the house6:10—Don’t: install solar panels  If you’d like to talk more about prepping your home for sale or if you’re ready to start the home sale process, don’t hesitate to give me a call or send me an email. I’d be more than happy to give you a free home valuation and sit down for a consultation.  As always, if you have any other real estate questions, feel free to reach out to me as well. I look forward to speaking with you.   

One of our frequently most asked questions is, “How do we hire you as a real estate agent and how does that relationship work?” Therefore, we’re diving into agency relationships today. Here are the three most common relationships that people have with a real estate agent: 1. The listing agent. This person represents the best interest of the homeowner only. They market the home for sale, schedule showings. “An intermediary transaction can be the easiest, most seamless transaction possible.” 2. The buyer’s agent. This person represented the best interests of the buyer only. They can advise you on how to make offers, where to find homes, and help you get the best terms possible. 3. Intermediary. This person represents both a buyer and seller in a transaction as long as both parties are consenting. It has to be a written agreement and sometimes these can be the easiest, most seamless transactions. In our brokerage, an intermediary is chosen for each side of the transaction. We will make sure the transaction is done correctly and without a lot of hassle. I’m happy to be able to answer this question today and I’m always happy to answer any more of them that you have. Just give me a call or send me an email any time. I look forward to hearing from you soon. 

Buying a home can be complicated even for seasoned homebuyers, but this is especially true for first-timers pursuing their dreams of homeownership. Today we’ll break down the home buying process into steps so that the inexperienced can know what they have to look forward to. For your convenience, I’ve provided timestamps below so that you can navigate our discussion in the video above at your leisure. 0:37—Picking the right Realtor to work with1:28—Picking a quality loan officer3:21—Listing out your wants and needs4:44—Going out to look at properties5:29—Upfront fees to expect: 5:50—Earnest money 6:30—Option money 7:15—Inspection fee 8:05—Appraisal fees What you learned today is the home buying process in a nutshell, but if you’d like more detailed information, contact me today to schedule a consultation. I’d be more than happy to sit down, discuss the process with you, and, more importantly, show you sample contracts and more so that when it comes time for you to begin the home buying journey, you’re not lost in a foreign world. I want to help you be comfortable making the decisions that you need to make for your family’s future.

What can buyers and sellers expect from the rest of our 2019 market here in Ellis County and in the DFW Metro area? First, let’s look at the current market statistics in Ellis County. We have 2.5 months of inventory, which means we’re still in a strong seller’s market. However, the tide is starting to turn in favor of buyers. This means if you’re a seller and you’ve been sitting on the fence, now is the time to capitalize on current conditions.  Furthermore, the average days on market is 60 days, and the list-to-sale price ratio is 96% (for our clients, though, the average list-to-sale price ratio is 99%). I’ve been selling real estate for over 25 years, and this has been one of the craziest markets I’ve ever seen. What I love about it is buyers have been able to buy homes at top dollar and then sell them later for an additional profit—even with Realtor fees. “I’ve been selling real estate for over 25 years, and this has been one of the craziest markets I’ve ever seen.” Now, in terms of our broader DFW Metro market, there are four trends buyers and sellers need to be aware of in 2019, according to Realtor.com: More homes on the market. Additionally, luxury homes will stay on the market longer, which means sellers in the higher price ranges will need to be more creative to get their home sold in a timely manner.   Shrinking affordability. We’ve seen a ton of economic growth in the DFW metroplex recently, but moving forward, affordability will become an issue for buyers, especially in the $250,000-and-under price range. When you combine this trend with rising interest rates, first-time buyers run the risk of getting priced out of the market.  Changes in buyer demographics. Last year, 45% of all homebuyers were millennials (Gen Xers made up 36%, and baby boomers accounted for 17%). The buyers who will really be able to capitalize on the 2019 market are move-up buyers, because they’ll be able to use the equity they’ve built up as their current homes have appreciated and roll that equity into their next homes.  The new tax law. Obviously we won’t know the full extent of this law’s impact until after April 15, but it’s still something to keep an eye on in terms of what kind of mortgage deductions you can make.  Overall, our market is still performing well. If you’re a seller, as I said, there’s no better time to enter the market than right now. If you’re a buyer, I’d advise you to jump into the market as well. Interest rates are climbing, but they’ve stalled a bit recently and are hovering around 4.375%, which is still historically low.  Whether you’re buying or selling, don’t hesitate to give my team a call so we can help you accomplish all of your real estate goals. If you have any other questions about our market, feel free to reach out to us as well. We’d love to speak to you. 

Happy New Year! Our team has already heard from an incredible number of buyers and sellers seeking our help with their 2019 real estate goals, and we’re so excited to make this year our best yet.  In addition to this, we’re also excited to continue bringing you the hottest tips from our market. And, today, we’ll be covering a particularly important one: Hire a Realtor when you buy new construction.  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific sections at your leisure:  0:47 - Do buyers really need representation during a new home purchase? 2:36 - How having representation can benefit your new construction purchase 3:05 - The truth about the on-site agent 4:03 - The complexity of a new construction purchase 5:06 - How to protect your best interests during a new construction purchase 6:01 - Is forgoing representation actually less expensive? 6:34 - How and why you should contact our team 7:03 - How to get your real estate questions answered in a future video 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.

We hope you and your family have a great holiday. May the Christmas season fill your home with joy. It truly brings us joy to help you make your real estate dreams a reality. Thank you for working with us. We wouldn’t be where we are today without your help. As always, if you have any questions, please don’t hesitate to reach out to us. We’re here to help you in any way we can. Have a fantastic Christmas and we’ll see you in the new year! To hear my full message, watch this short video.  

Over the last couple of years, our local real estate market has been phenomenal. We’ve seen exponential growth. With that in mind, today we’re going to outline what exactly has been going on.  Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:  1:35 - Are we in a buyer’s market or a seller’s market right now? 2:24 - What does the current housing inventory look like? 3:18 - How does current inventory affect local home values? “Ellis County is currently experiencing a seller’s market” 3:34 - What do the interest rates look like? 4:34 - When is the best time to enter the market to maximize purchasing power? 4:50 - What does all of this information mean for buyers and sellers? 5:40 - What questions should buyers ask while house hunting? 5:48 - House hunting question No. 1: How is the neighborhood or area? 6:33 - House hunting question No. 2: How are the schools? 7:18 - House hunting question No. 3: What are the home’s average utility bills? 9:01 - How to contact us about any other questions you have.  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.