Ronda Allen's Blog

As DFW rebounded in 2009 from the recessionary housing market of Fall/Winter 2008, there was a shining star in the North Dallas suburbs.  Little Elm, Texas had a stellar Summer.  With the average sale price of a 4-bedroom, 2-bath, 2300sf home with 2-car garage selling near $162,000, this affordable lakeside community with the Denton County tax base was red hot.  209 homes in our local MLS went to SOLD status since the first of June, 2009. 

Little Elm was also a pretty quick sale this Summer.  Average days on market for a home to take a contract was 89.  This means that an average home would sell in the same quarter of the year in which it entered the market. 

In my opinion, if Little Elm suffers from anything, it would still have to be some infrastructure issues.  The growth in Little Elm and areas to the North has been tremendous.  Although the opening of Panther Creek Parkway to the Dallas North Tollway has been a GREAT relief, the opening of the bridge between Little Elm and Lake Dallas and I-35 brings an all new artery of traffic to the area.  Widening of the roads in Frisco, Little Elm, and The Colony is underway, and yesterday would have been a fantastic completion date.

What do I like most about the community of Little Elm?  It would have to be a toss-up between the people and the location.  The people - some of the nicest families I have met in the last 8 years have been my sellers and buyers in Little Elm.  Family values run strong through this little community.  The location - so close to the amenities of Frisco, an easy commute to DFW airport, the location just West of the Collin County line for lower taxes, and the access to the Dallas North Tollway that opened in 2008 and made commuting to downtown Dallas a possibility in under an hour.  Little Elm appears to be the little town that could, and the more developed and sophisticated the town plans come together, the more I like that area.

Have a blessed day!
Ronda



Ronda Allen, Realtor, C.P.M.
RE/MAX Dallas Suburbs
www.dallassuburbs.net

 

With the First Time Home Buyer Tax Credit set to expire in November of this year, you first time home buyers should not be sitting on the fence.  In order to close on a home in time, you need to be touring for homes this month and next month.  You need to be under contract no later than October.  September contracting, to avoid last-minute loan processing delays, would actually be preferable. First-timers are most of who I am touring with at the moment.  And, that is expected to continue for the next couple of months.  If you haven't owned a home in the last 3 years, you qualify as a first time home buyer.  Living in DFW, we have a wide range of home prices for the first-timer.  $90k-250k is where we see many of our first-time buyers purchasing homes.  And, this range includes resale and new construction options.  In other parts of the country, new construction would not be possible for the traditional first-time buyer. 

Programs like this tax credit may or may not be extended.  Nobody knows for cerrtain right now. Don't risk it.  The clock is ticking.  If you have questions or concerns about the process, just ask.  A good Realtor doesn't close on one home a year.  We close on 20, 30, 40, 50, or more.  With experience comes wisdom.  We love first-time home buyers.  For agents, it's fun to work with them.  They are excited to be going through this process and they have lots of questions.  In other words, they need us.  And, it's nice to be needed.

Tick-tock, tick-tock...

Have a blessed day!
Ronda


Ronda Allen - Realtor, Life Coach, and Certified Purchasing Manager
CEO of comingsoonhomes.com
Follow me on twitter:  www.twitter.com/comingsoonhomes
RE/MAX Dallas Suburbs - #1 RE/MAX in North Texas Region Mid-Year 2009
Keith Dobbs Team - #3 RE/MAX Team in N. Texas Region Mid-Year 2009
View all our listings at:  www.keithdobbs.com

This past week, the top spot for views to my spotlight on trulia has been coming out of Little Elm.  Are you surprised?  I was.  Arlington is usually the top spot around here.  But, as there is a rapidly diminishing supply of foreclosure and short sale properties in the North Dallas suburbs, people are once again looking to areas like Little Elm for affordable housing options.  It gets harder every day to find a nice 4-bedroom home below $200,000 in the North Dallas suburbs.  $144,000 may be the approximate average of a home in DFW, but that doesn't buy much in areas like Frisco, Prosper, or McKinney.  So, areas like Aubrey and Little Elm are filling a void by providing options that are in a desirable price point, but also newer construction (most available homes right now in Little Elm are 1999 or newer), and easier to get to with the addition of roads like Panther Creek Parkway.  Panther Creek now connects Little Elm to the Dallas North Tollway, which was a huge improvement in traffic flow for this area.  I viewed a super-cute house on Myrtle the other day - 1300 square feet and listed below $100,000.  There's also a home in The Colony that I have to rave about -  on N. Horseshoe.  It was only about 1,000 square feet, but had almost a third of an acre with the house and was also listed below $100,000.  This home felt like it belonged out on the shores of Galveston Bay, and was steps away from Lewisville Lake and move-in condition.  It does exist!  But, like shopping for vintage clothes, one of my favorite things to do, you have to sift through the choices to find the gem. 

Have a blessed day!
Ronda



Ronda Allen
Realtor, Realtor Life Coach, and Certified Purchasing Manager
RE/MAX Dallas Suburbs

Little Elm is one area in the suburbs of Dallas where you can still find a home listed at or under $100,000.  These aren't shacks.  They are usually brick homes with 3 bedrooms and 2 bathrooms and fairly basic amenities. 

My suggestion today is for the sellers:  If you own a home that you feel will list in this price range, get packed.  Your home, if in good condition, is likely to sell in just days.  The same advice holds true in Aubrey, Denton, Crossroads, Oak Point, and The Colony.   Right now, I am forced to bring the offer documents with me to the showing appointment because so many of these homes are selling in the first week of the listing.   

Cosmetic issues aren't of as much concern at a time when many families are just looking to cut household expenses.  People still want a nice community in which to live and good schools for their kids.  This is a rebuilding year for many families.  If you are ready to move up to that next level of home, it's a very good year for you to sell that smaller home and give it a chance to be of service to a family that needs it more.

Have a blessed day!
Ronda


Ronda Allen, C.P.M. and Realtor
Keith Dobbs Team at RE/MAX Dallas Suburbs

Don't let anybody tell you differently, the market in Little Elm, TX is cooking so far this year!  We've documented 147 home sales, ranging in price from $49,000 to $785,000.  Homes under $180,000 are very popular right now, with the state of the general economy, which should continue to be the case into Summer. 

Residential leases are very much in demand, as well, in Little Elm.  If your home isn't selling, leases are still rising and this may be a very good option for you over the next 12-24 months.  If you can be flexible with 6-12 month lease terms, the market is there for higher lease, shorter-term leases also.  Keep in mind that many of our usual buyer market coming from other states still have homes to sell this year.  This point should not be overlooked.  They require a lease until they can get their home sold.  A shorter-term lease can be beneficial for both parties.  It is a big part of our business, and has been for over six months.  We're getting calls to lease homes that aren't offered for lease - so we know we have unsatisfied demands out there.   

Have a blessed day!
Ronda


Ronda Allen, Realtor
Certified Purchasing Manager
The Keith Dobbs Team at RE/MAX Dallas Suburbs

My last two resale sales in Little Elm (December and February) were above $95.00/sf.  I know it might not be possible on every home right now, but these homes had things in common:

1.  Easy access to the Tollway via the newly opened Panther Creek Parkway.
2.  Condition - both homes were kept spotless!  Not easy - but so necessary!
3.  Wood floors - real wood floors/not laminated floors that look like wood!
4.  Corian countertops - granite is still a buyer preference, but corian is usually a close second!
5.  Location - both were interior to their respective neighborhood.  One had a slightly larger lot
than the rest of the neighbors, and the other had views of the lake across the back of the home.
6.  A very patient listing agent (that would be me), who helped them wade through multiple low-ball awful offers and comparison to area foreclosures, while we waited patiently for their buyer.
7.  A willingness by the owners, in both cases, to see the viewpoint of the buyers and strive for that win:win that everyone says they are after, but cannot always achieve.

We cannot ignore other homes around a listed property, but when the situation justifies a higher sales price for factors like those I mentioned above, it can be well worth the time and effort to wait for the right buyer to come along.  

Have a blessed day!
Ronda
 

I don't know which is more frustrating these days to home sellers:  The lack of feedback after a showing, or feedback that only critiques the home and doesn't give any indication of interest level from the prospective buyer.

It is really easy, as a buyer and also as a showing agent, to forget you are actually trying to buy a home.  When you view a home, catch yourself saying things like:

1.  "This house on that other lot..."  We cannot pick up this house and move it.  But, we can go back and search the MLS for a home closer matching a specific house on a specific lot. 

2.  "The house is too white (or too colorful).  It AMAZES me that the floorplan works, the location works, the neighborhood works, the schools work, the commute works, but something as little as the color on the wall is going to keep you from offering on the home.  It is SO rare when a home meets 100% of the criteria you would like.  When we get above 85-90% of what you asked for, you need to be giving that home serious consideration and quit picking it apart.  We can usually overcome the little objections.

3.  "The house didn't have granite countertops".  As upgrades go, you can drive up the cost of a countertop pretty easily.  I am always shocked that a prospective buyer won't think twice about that aging fence outside.  These days, the replacement of a fence seems to be running even more than the cost of installing new countertops.  Plus, if you demand certain upgrades up front, rather than focusing on the structural aspects of the home, you will miss out on seeing viable home options that may have been the better buy.  Flexible is better.  

4. "The buyer didn't care for the floorplan".  This is likely the most common form of feedback provided in our North Texas area after a showing.  Sellers have no idea what to do with this information.  Were there not enough bathrooms? Not enough upgrades? Were the bedrooms too small? Did you not care for the combo formals? Do you prefer a master downstairs?  Give details to the agent.  And, hopefully, agents will give some of that feedback to us, rather than just respond on all homes viewed that the floorplan didn't work. 

5. "This home doesn't show well because of the furniture in it".  Unless they are offering furniture as an incentive, the furniture doesn't stay with the house.  It's fine to advise the owners that you didn't care for how their home was staged.  It isn't likely they will go out and buy new furniture for you.  But, they may take that criticism and remove unsightly pieces if they get more than one complaint.  Focus on the elements of the home.

6.  "It's the right location and the right price, but the buyer has ruled it out".  Sometimes, the agent even tells us "this is the home they should have bought, but we're under a contract now on something else".  The first rule of real estate is still location-location-location.  That hasn't changed.  Try to give the home with the best location a 2nd look.  Location is the one you should not sacrifice.