Ronda Allen's Blog

Realtors drive all over, and one of the perks of being out and about is seeing the decorations homeowners put out for Halloween.   This is a home in McKinney's Mallard Lakes and it's my favorite so far.  There are a few days left for others to bring their A-game to the Halloween festivities, so let's see if anyone can trump this one:

 

This home is also currently up for sale and they have a raven sitting on top of the for sale sign.  Priceless!

Happy Halloween!

Ronda


Ronda Allen-Realtor and Certified Purchasing Manager
CEO of comingsoonhomes.com
RE/MAX Dallas Suburbs

A great strip mall space will begin construction soon as the Northwest corner of Custer and Eldorado on the McKinney/Frisco border.  20,000 sf of retail space, to be anchored by a Kroger grocery store.

Commercial space is highly negotiable in the current market.  If you need to move up, move down, or are considering a start-up, now is a great time for negotiating reasonable rents all over DFW.

Have a blessed day!
Ronda



Ronda Allen, C.P.M.
Realtor, Life Coach, and Certified Purchasing Manager
RE/MAX Dallas Suburbs
www.comingsoonhomes.com
www.keithdobbs.com

Do you think the options are limited for homes and homesites in DFW under $100k?  Yes - the opening price point of a new home is above $100k from most builders, but the resale opportunities under $100,000 right now are good for those who are tired of renting apartments or investors who are wanting to pick up rental properties or flips.

From $14,000, you can pick up a home site, and from $40,000, you can pick up a home.
The home options in the $60-80k range I toured with a buyer recently and some of them are really adorable if you don't require a lot of square footage.  Some need some work.  Some need only cosmetic.  It's a mixed bag.   

If it sounds too good to be true, it very likely is too good to be true (that 4,000 square foot home for $100,000 really is trashed beyond belief).  But, before you renew that lease, or give up that idea of jumping on the bandwagon and buying income property, keep in mind that this is the best buying market in 45 years.  The time is now.  And, the opportunities is McKinney are many.

Have a blessed day!

Ronda

Ronda Allen, Realtor, Certified Purchasing Manager

Keith Dobbs Team at RE/MAX Dallas Suburbs

The showing service is closed on 1/1.
Maybe your buying agent isn't available due to the holiday.
You found a home online (let's say on Trulia.com).
You really want to see it on 1/01 while you are off work.

Try calling the listing agent directly or hiring one agent for cash - just
for one day - to do showings only for that single day.  What would you charge for
one day of your time on a national holiday? (think double-time&a half).   

Some sellers would be happy to let you see their home on 1/01.
Some agents won't mind scheduling appointments and showing homes on 1/01.
Some buyers really need help to get in a place quick and have to be looking on 1/01.

Never say never.  Realtors are independent contractors.  Sometimes, you just have to be willing to ask.

Happy New Year, Ya'll!
Ronda

I can't tell if it's doom&gloom being conveyed through the media or motivated sellers feeling they have no options, but it's time to get real in Collin County!  We have an influx of buyers coming into our area, thanks to AT&T and Cisco Systems (just to name a few).  We are so lucky to have that.  Our inventory levels in some parts of Collin County are much lower than they were going into 2008.  And, interest rates are almost 2% lower across the board than they were at this time last year.  DFW has a huge corporate market, and first quarter of any year is typically our best quarter for home sales.  2009 budgets from our corporate clients are about to be freed up for use - which means employees will be given the green light on making their moves.  Stop dropping prices.  Neighbors hopscotching neighbors for better pricing position may be necessary in other parts of the state still, but it isn't our reality at the moment.  Hold your pricing, let the buyers make up their minds on which home they are going to buy, and quit giving away the farm when negotiating repairs or allowances in lieu of actual repairs.  Get updated comparative sale data and compare where inventory was when you listed and where it is now.  You just might be pleasantly surprised!  Our housing market, like our Winter sky, is bright and sunny!! 

End of the year tip for sellers:  Make sure your Homestead tax exemption is on your home.  If you bought anytime in 2008, you qualify on 1-01-2009.  If you forgot to file in 2007, the form let's you go back and note that for the appraisal district.  The application is online.  It doesn't cost you anything more than a stamp to submit the form.  Even if your home is for sale, you should make sure this exemption is taken.  Property taxes are a hot issue for buyers.

It's no surprise to us in Collin County that December is the best month in which to buy a builder spec home.  We've been a real estate market that has consisted for the last 15 years of an almost equal mix of resale homes to new construction homes.  This year is no exception.  The difference this year is that some builder specs have been sitting complete since Summer.   The builders over-estimated 2008 demand because of record sales in 2007 and an inability to predict the changes in our economy that happened this year.

There are a few pitfalls to look out for when buying a home that has been sitting vacant.  Be sure to fully inspect by an objective home inspector (one that is not provided by the builder).  Seals and valves tend to dry out from lack of use.  You don't want plumbing leaks as soon as you move in.  Have the inspector check the roof for missing or lifted shingles  Check for critters - Yes, critters.  A WDI (wood destroying inspect) inspection will check for wood bees, carpenter ants, and termites.  But, a vacant house can also have dirt dobber or wasp hives under the eaves or in attic spaces.  They can be inundated with spiders, both big and small.  And, crickets love vacant homes.  

I think it's a good course of action to negotiate a longer warranty period if you are buying a home that sat vacant for over six months.  Ask for an 18-24 month warranty from the builder instead of a typical one-year warranty.  I have one client who did that on a $150,000 home in Frisco and we got it.  Don't think because they are discounting the price that you have no other option but to take the house as-is.  It just isn't true, unless the builder is in financial distress.

While we're on the subject of financial distress, look at your own credit scores when you are looking to buy a home quickly to take advantage of an end-of-year sale.  If your scores aren't 750 or above, you may be paying higher fees and a higher interest rate to get that home loan.  Speak with your lender about optimizing your credit score to achieve the best possible loan.  If you have to wait 30-60-90 days in order to raise your score, they can guide you through it.  You want to get a good deal on the house in terms of sale price, but you also want to live there for a long time (hopefully 5-7 years as a minimum), and you want a great loan to make the most of your investment.

There is still time to contract for a new home and close in 2008.  In Texas, that also means that you would qualify for the Homestead tax exemption on January 1, 2009 rather than having to wait until 2010 to qualify.  The window of opportunity to close you this year is beginning to shut.  We would need to find a home and be under contract by the 22nd of December.  Cash buyers can extend that to the 26th of December.  

One last tip for buying at the end of the year - don't overlook resale homes.  Some of the greatest investment potential comes from buying an existing home during a deep buyer's market, and then selling that home when the market turns.  Our investor clients don't focus their sites on new construction very often.  Those clients look primarily to resale to achieve their profit objectives.  

It's a really cold morning in North Texas.  We're in the 20's with the wind-chill.  That's plenty cold for us.  But, thankfully, we'll see sunny and 70's by the weekend!