SIMMONS&NOLAND

County Appraisal Districts: Laughing All the Way to the Bank With Your Money

2010-05-22T10:05:00.000-05:00

In our last newsletter, IN THE LOOP, I wrote about our own personal experiences, while out in the field listing properties. Recently, we discovered serious errors regarding real estate/property appraisals, recorded with the County Appraisal Districts. Below is part of the article.

Hula hoop, loopty loop, I got the scoop! No, I don't have the answer to the Hula Hoop question. I doubt anybody does. However, I do have a really good question. A serious question. Something you should be aware of.

What is the square feet of your home?

In the past two months, we have come across three homes in which the square feet, recorded by the county appraisal district, was incorrect. And, for two it wasn't in the seller's favor. Clearly, if the county has overstated the square feet of your home, you are over paying in taxes.

When you get that letter (the one that can make the mortgage go up)in the mail every year, how much do you look into it? Many just look at the difference compared to the prior year. That's smart to do but, if you noticed a good increase, it could be the square feet is incorrect.

Many think it's a good thing when the county appraisal is on the high end for their home. They believe it will benefit them when it comes time to sale. In other words, they put their faith in the value stated by the county. Don't get me wrong here. We all want to see the value of our homes go up. But, is it the truth?

The truth can set you free and the truth can hurt. Let's say you put your house on the market and you get an offer? You've finished negotiating on the price. You and the buyer have come to an agreement and the contract is executed. The buyer's inspection goes well and he/she didn't nit pick every little flaw, asking for a number of repairs. So, you exhale and there's a sigh of relief. Then, the lender sends out their own appraiser. You wonder how it went and as as few weeks pass, you think all is fine. During the course of this time, when you talk to your agent, he/she says it looks like everything is moving along, just as it should. (Lenders are good at making us think so.) Then, you get a call. Your agent tells you that your home did not appraise. (Been there and we hate it!) Yes, the truth can hurt......

To read the rest of the article and our recommendations, click here.

OPEN HOUSE 1377 War Admiral Dr. Terrell, TX. 75160

2010-05-13T22:07:00.002-05:00

Coming Soon
OPEN HOUSE
SATURDAY 5/22
1:00-4:00
1377 War Admiral Dr.
Terrell, Tx.
75160

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For private showing please contact me
Teresa Noland 469-628-5458

Choosing A REALTOR®

2010-05-03T22:19:00.001-05:00

It amazes me when I get a random call, from a sign in the yard, and I ask the question,"Are you currently working with a Realtor?" Some reply, "Yes.", but most often the response I hear is, "No. We're just driving around." Driving around? What they really mean to say is, "We've been on line looking at houses. We want to buy a house and we're checking out the neighborhood. We're just not sure if we need a realtor. We think we can do this on our own. Besides, we don't want to feel pressured."

Some homeowners attempt to buy their home themselves, only to be disappointed with the end result. Buying your own home requires you to educate yourself about the industry, the type of market you’re hoping to live in, and negotiating and buying techniques to name a few. Of course, this doesn’t take into account the hours of time and energy you will spend throughout the home buying process. If that isn’t enough, consider the paperwork and legal forms you are responsible for filling out.

An experienced REALTOR® will know the required contracts, forms, and disclosure statements necessary for each sales transaction inside and out. Each legal document must be completed properly. REALTORS® also have access to forms not available to others. If you make a mistake at some point in the real estate transaction, you may find yourself unable to close the deal.

The Simmons & Noland Team will work hard to find just the right home to fit your needs. We will assess your dream home's actual market value as compared to the listing price and negotiate with the homeowners’ selling agent on your behalf. All to ensure you get the best house for the best price possible. Ultimately choosing The Simmons & Noland Team is the most important step in guaranteeing your home buying experience is successful. It's time to stop driving around. Give us a call.

Teresa Noland

In This Real Estate Market, It Takes Two

2010-05-02T16:23:00.000-05:00

If you're a home owner in Forney, Tx., we have good news. Homes are still holding their value. At least our listings have. To tell you the truth, we have seen some desperate sales out there and some have made our mouths drop. Desperate home owners will do desperate things and impatient agents will go along with them. If you have the patience and a patient agent, you can come out ahead. We have one example for you. In March, 2010, one of our listings, in Shamrock Ridge of Forney, a 3267 sq. ft. home on a one acre lot, sold for $297,000. That's $90.91 price per sq. ft. Excellent for a pre owned home, in an unforgiving market. This particular sale required over 25 showings, 192 days on the market with the Simmons & Noland Team, and a flier box constantly stocked. Most importantly, it required aggressive marketing skills and excellent negotiation skills (our greatest strength x 2), and two patient agents working together to procure the highest and best offer for the seller.

When asked if it's a buyer's or seller's market, or response is, "It depends." It depends on who you have representing you. Recently, we represented a first time buyer who purchased a small ranch, in one of counties east of Kaufman and Rockwall, for $134,000. The final appraisal was $153,000. Needless to say, our buyer was overjoyed! For this buyer, it was a buyer's market. However, if the listing agent had done the proper home work to determine the real market value, negotiated aggressively, stood patient and firm for the seller, it could have and most likely would have turned out differently, as it did for our client that sold in Shamrock Ridge of Forney.

Again, when asked if it's a buyer's or seller's market, we will stick to saying, "It depends." Oh, and it's the truth, in this real estate market, it takes TWO!

Choose the Simmons & Noland Team and you will come out ahead too!

Simmons & Noland

TWO Friends Selling Real Estate Together

Contact Monika Simmons: (469) 632-6344

http://monikasimmons.yourkwagent.com/

Contact Teresa Noland: (469) 628-5458

http://teresarepro.yourkwagent.com/

Keller Williams Realty, 2951 Ridge Rd. 101, Rockwall, Tx. 75032

Office: (972) 772-7000 Fax: (972) 772-7001