The saying “If you fail to plan… then plan to fail” is never truer than when you are buying or selling one of the largest investments you make.
We have put together the best comprehensive guides for you, whether a first time home
buyer, a buyer who has purchased more than one home in the past or someone who is planning to sell now or in the near future. They are to help educate and to inform you & our clients about things to consider when making your next move. We update these guides 4 times a year so you have up to date information because “Keeping Current Matters”!
Finding a home for buyers right now is still challenging in the North Texas area. Especially first time homebuyers. Sellers are realizing that now is the perfect time to sell, with high demand, however, the interest rates are starting to tick-upwards and this will cause a slight decline in buying power for the buyers. Now is the time to sell if you have been on the fence.
Don’t Wait to Sell Your House! Buyers Are Out Now
Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.
Let’s see how this applies to the current residential real estate market.
It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.
Supply is currently very low!
A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.”
Demand is currently very high!
Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Guy & Joi McKinney and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Guy & Joi McKinney and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Super Charge Your Search for Properties that are FOR SALE and FOR RENT!
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Thinking about putting your home on the market? See your competition in the palm of your hand! Get up to the minute real estate and rental data -look now longer.
Wow…James & Patricia, down the street, just put their home on the market! I wonder what they are asking for their home… Now in the palm of your hands, open your Millions Mapped App and you can get this information!
Keeping current matters in the real estate market, whether buying, investing, selling or simply a homeowner you can have this information in the palm of your hands! Download the FREE app now you don’t want to miss out.
A home inspector will look at everything. Home inspectors have a 1,600-item checklist, according to the National Association of Home Inspectors and the average home inspection can take three to four hours – or even more if you have additional inspections, such as termite inspections, included.
Here are just some of the areas checked during a home inspection:
Grounds: Standing water, faulty grading, sick or dying trees and shrubs, crumbling paths and walls
Structure: Foundation integrity, rotting or out-of-plumb window and door frames
Roof: Defects in shingles, flashing, and fascia; loose and hanging gutters; defects in chimneys and skylights
Exterior: Cracks or rot; dents or bowing in vinyl; blistering or flaking paint; adequate clearing between siding and earth
After you have actually found that perfect home and the contract has been accepted. Your mind is probably ready to explode with all the projects that have to be accomplished. We want to help you and here is one step to make it easier as you go on this journey!
You have to pack up our old home! It is the perfect opportunity to get rid of all that junk that has been piling up through the years. Keeping everything organized and easy to find once you’ve moved to the new home, this helps tremendously…a little planning makes it so much easier.
Have you ever moved and wondered where in the world that special item is? So this time, we have something to help you keep your move more organized!
Simply print these labels on sheet label paper, each sheet will give you 4 labels, simply cut and you’re ready to go. If you have more boxes in any given room, simply print another sheet. It’s EASY Peezy! The room sign or inventory sheets can be printed on plain paper. For all the money-saving peeps out there, print out labels on paper and use packing tape to apply to the box! Just make sure you cover the entire label with the packing tape. Make sure you add a label to each side of the box ~ that way it will be visible from any direction.
You’ll get 4 labels per one a4 sticker paper sheet. Each room has its own color that will really pop out on the boxes. To go along with these, you will have room signs/inventory sheets. They are matching with the corresponding color. When packing up, simply list down which box number and its contents under each room. Put the list in a special place and then when moving day comes, stick the paper on the door or wall of the room so that your movers or friends know exactly which box goes to what room by matching the color! Nice, clear and easy peezy!
The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only six states had a weak demand level.
The Index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.
Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!
If your thinking about buying or selling you home, you need to consider using a professional to help you navigate the journey.
We can help you put all the pieces together.
With first hand knowledge of the market, in our area, we run stat reports for the trends from one neighborhood area to another-yes they can be different. Are homes selling for 97% or 101% of asking price? How do you know what the best offer is when selling your home…is it really just the sales price? What does it take to win when a buyer is in multiple offers? What is the inventory like…the absorption rate? We help you understand the different dynamics of accepting an offer or presenting an offer and our consulting skills help you understand your options so you can make intelligent choices.
ACCESS TO HOMES
Whether buying or selling a home there needs to be good access to the home. Buyers usually need a Realtor® or agent to access a home-unless it is an open house. The good news for a buyer is it costs the buyers nothing to hire a Realtor®. Seller’s generally find having an agent is a much safer alternative than just allowing anyone into their home. The use of a secure lockbox that only a buyers agent has access to is generally the best way for allowing buyers access to tour the home. If you are considering FSBO, consider your safety…who is actually coming into your home and why are they really there?
As a REALTOR® who has worked with many service providers over the years, we can recommend excellent trustworthy lenders, inspectors, title companies and even lawyers, if the need arises. We have a special list of local service providers who we trust and can recommendation, from interior designers, stagers, plumbers, electricians, handymen and other service trades throughout the real estate transaction and when you hire us we are happy to share these resources.
When we represent you, you’ll have an experienced advocate and negotiator. Buying a home is an emotional process. For most people, it’s the biggest transaction of their life and it’s often done during other major life changes, such as a job relocation, “right” sizing for a growing family or empty nesters, or in the unfortunate event of a job loss, a bankruptcy or even a divorce. Strong emotions and stress can muddle ones judgment – this can cause you to make a decision you might later regret.
As your agent, we look at a transaction from a business perspective with an experienced, clearer and unemotional perspective. We can help you better understand your options, and serve as a balance against making decisions that might be reckless. Sometimes even family member who are trying to protect you may even give you advice that is incorrect.
When at the negotiating table, we are your advocate…we treat your money like it is our money. Money is an emotional issue and we’ll get you the best deal possible, without letting strong feelings get in the way. At Triple Crown Realty, this is particularly true – we want you to be 100 percent satisfied with the home you purchase.
On the buy-side, an agent services are free. Some believe that they’ll save money by not using an agent to buy a home. This isn’t true. The entire commission on a home purchase is paid by the seller to the seller’s broker, who in turn gives part of the commission (usually half) to the buyer’s broker.
It’s tempting to think that if you don’t use an agent, you will save money, but this is generally not the case. Before the listing even goes on the market, the commission rate is agreed upon via a listing agreement contract with the listing agent and the seller. If you as a buyer, decide you don’t need representation from a buyer’s agent, the entire commission is then paid to the listing agents broker. The listing agents broker would have to agree to change the listing agreement contract to cut you in on part of that compensation, and this is highly unlikely.
DOCUMENT AND TRANSACTION DETAILS
Drafting or receiving a contract can be complex and knowing the contract inside and out is very important. As you can imagine, every –i- must be dotted and every –t- must be crossed, because there are 100 pieces of paper requiring upwards to 43 signatures and initials, and making a mistake can be very costly to you.
Every item in the contract is important. Failing to know the importance of certain line items could cost you a lot of money down the road. Knowing what to look for or how to write an offer with the the best possible terms allows us to ensure your interests are protected and that your offer is accepted.
Why it is important to use a full time experienced REALTOR®? Every transaction has 100 to 150 phone calls alone, and each one of them is loaded with critical details. How does it make you feel knowing that there are 43 different people from 14 different industries who get involved during the seven stages of your transaction?
FIND THE RIGHT FIT
It’s important that you find an agent that is dedicated, knowledgeable about the different aspects of the transaction and has no conflict of interests. It is important they are committed to you! We believe good communication, transparency and working hard for our clients is very important… for you choosing the right agent is just as important as making sure a home is the right fit for you!
“You’re going to love HomeKeepr’s new features! You can now store your appliance manuals and purchase receipts all in the app. Clean out the junk drawer. It’s easy too. No typing… Just take pictures using the HomeKeepr app and you’re on your way.”
Joi & Guy McKinney, REALTORS® http://www.triplecrownrealtydfw.com
All a homeowner has to do is snap a picture of the product ID tag of their refrigerator, washer, oven, or any other major appliance, and we’ll do the rest. The Homekeepr app will match the right manual to their appliance’s model number, and upload it directly into their HomeKeepr profile. They can even upload a receipt for the appliance to their account as well, and bingo! A complete record is at our client’s fingertips.
Why our clients love this? Because the first thing most homeowners do when they move in is LOSE their appliance manuals and receipts. That means they can’t get service under their warranty. But as your trusty and innovative REALTORS® at Triple Crown Realty…we want to help our clients settle into their new homes and make things easier for them.Having manuals and warranties at your fingertips makes it easy to call for service… or figure out how to change that pesky part when necessary.
It’s a win for you, and you’re able to find whatever you need next time you’re in a jam and need information.