Property Writes

North Dallas Real Estate ... How is it effected by the National News

2012-01-26T08:37:00.001-06:00

If you are even close to the "Newsaholic" that I am, you can't help but have heard whispers of an improving housing market; if not the entire economy as a whole. All I can say is Hallelujah if it's true!

After 4 years of negative economic news, I can do with something P O S I T I V E! That said, the month of December 2011 for oNorth Dallas simply looks like the same 'ol, same 'ol. There's nothing new there.

After having been in the Real Estate Biz for 15 years, I have learned that a media that writes articles for a national audience doesn't necessarily reflect all areas of the US equally. They often speak in broad generalities. Dallas is not Orlando, or Las Vegas, or CA afterall. We have not be devastated as those areas have been. Therefore our recovery (whatever that will look like); just as our loss, will be much more subtle; and that is a very good thang'.

If you are looking to buy a home, I can help you find the home you are looking for that is as close to perfect as perfect can be. If you need to sell your home, I will sell it for you in the least amount of time, for the most money possible, and with as little inconvenience to you and your family as I can manage. REMEMBER: Anyone can put a sign in front of your house, BUT I'll get it SOLD!
If you have questions, send me an email. There is never any cost or obligation!

Housing Developments You DON'T Want to See in North Dallas

2011-12-14T12:12:00.006-06:00

In North Dallas, Plano, Richardson, Frisco, Allen, and Carrollton; the areas I most closely serve; we don’t have anywhere near the number of foreclosures that the following locales are experiencing. Therefore I haven’t witnessed any of the “creative and unique” foreclosure “solutions” that have been implemented elsewhere. If I see any of these “goings on” taking shape, you’ll be the first people I notify!

A man’s home is his castle, except when it becomes someone else’s marijuana plantation, crack den, movie set, homeless shelter, farm or public park.

Such opportunities for conversion present themselves in certain parts of the United States, which now has about 1.2 million more vacant homes than there would be in normal economic times. In fact, the depressed housing market has become a case study in how an economy adapts — if only in an early transitional phase — when one of its pillars suddenly collapses.

Foreclosures, home abandonments and devalued houses have helped to inspire creative thinkers, political protesters, opportunists and civic leaders who envision new uses for homes besides nesting.

Detroit, where nearly one in four homes is vacant, has been at the vanguard of all manner of manorial makeovers for some time now. Artists and political campaigners have adopted abandoned properties as their own nontraditional canvases, painting some empty houses bright orange or quite literally freezing them by dousing them from the roof down with hydrant water, to draw attention to the housing crisis.

An Atlanta filmmaker dreamed up a post-apocalyptic indie drama set in deserted and dilapidated dwellings in and around the city.

In Las Vegas, where 1 in every 171 homes has been served with a foreclosure notice, the authorities found a stretch of empty homes that had been turned into marijuana greenhouses.

Some empty houses have become de facto dormitories in places like Merced, Calif., as college students opt to rent chandeliered chateaus instead of living in cramped rooms on campus.

The Occupy movement last week began an action called Occupy Our Homes in cities like Chicago and Atlanta to fight evictions and protest what the movement leaders say are unfair lending practices by banks. In Oakland, Calif., protesters seized foreclosed property and turned it into a headquarters.

Clicking together the heels of my sequined red pumps, I can safely tell you, “We’re not in Kansas anymore!”

With a special thanks to Catherine Rampell of the New York Times

These are the 4 MOST IMPORTANT Actions YOU MUST TAKE if You Plan on Selling Your Home for the MOST $ POSSIBLE!

2011-11-18T17:21:00.001-06:00

1. Don’t slack off on home maintenance. Investors love to by homes that reflect a lack of care, because they are able to do so for pennies on the dollar. It is very important to maintain your AC and water heater. Worn surfaces need to be painted. All plumbing drips need to be repaired! Many simple repairs can be performed by a handy man for not much money.

2. Make sure your home isn’t being covered over by trees and shrubs. Curb appeal is very important; make sure buyers can easily see your home! Trim all overgrown trees and shrubs that might be blocking sunlight from entering.

3. Remove wallpaper. Take down your personal touches! Neutralize the home with subtle wall colors that will appeal to most buyers. Help the buyer to see your home from THEIR personal perspective.

4. Don’t leave the home vacant. Vacant homes sell for less $. They do! Rooms need to look finished, inviting, and warm. If it is not practical to stage the entire home, consider decorating only one or two areas such as the kitchen and master bath.

Thinking about selling? In a difficult real estate market, such as we are currently experiencing, it takes the kind of marketing expertise I provide to do the job successfully! Please call me for a free consultation without any obligation!

What Is the Value of My Home?

2011-11-02T17:19:00.001-05:00

In listing and selling real estate in North Dallas, and particularly Spring Creek and Prestonwood, that's the first of two primary questions home owners want to know, "What's my home worth?" Sellers seem to be surprised as often as not with the answer. What I find particularly interesting are sellers who have often received a flyer in the mail reporting what the average sales price in the neighborhood happens to have been over the past year. They believe that they simply need to multiply their sq footage by that number and "voila"; THAT is what their home is worth. Often they have consulted Zillow with the same question. It's not that easy!

If you want to know what your home might sell for in this challenging real estate market, send me an email; I'll gladly respond! Dennis@BaumRelo.com.

Birders in the Mist

2011-10-31T13:00:00.001-05:00

Birders in the Mist

What a picture! You are looking at 6 members of the Trinity River Bird Watch Group 3. I'm on the far left. It's 8:30 on Saturday Morning 10-29-11 and we're freezing our toes off walking through the wet grass when we could be sleeping in a warm bed. Oh well; different strokes for different folks. We love the oppertunity to commune with nature between the levies on the Trinity River at Trammel Crow Lake! We are hoping that the Dallas Morning News will publish our really cool photo!

5 Things To Do Before Putting Your Home On The Market

2010-07-09T13:51:00.004-05:00

You can pay me now or you can pay me later ...

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin. If this isn’t practical of affordable, insist that your Realtor do a thorough “walk-thru” in order to identify problems that need to be corrected before the home is listed.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

10 Ways To Prepare For Home Ownership

2010-06-28T15:34:00.002-05:00

It won't happen by accident ...

1. Decide what you can afford.

2. Develop your home wish list.

3. Select where you want to live.

4. Start saving.

5. Get your credit in order.

6. Determine your mortgage qualifications.

7. Get preapproved.

8. Weigh other sources of help with a down payment

9. Calculate the costs of homeownership.

10. Find an experienced REALTOR® who can help guide you through the process. Look no further than "Moi"!

Six Reasons To Own Your Home

2010-06-19T07:53:00.007-05:00

Provided you can afford to own a home and are mature and responsible

With the recent collapse of the US mortgage market, the concept that “everyone” should own a home has come under attack. Everyone should not own a home. Only people who can afford to own a home should for 6 very compelling reasons.

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and more.

2. Appreciation. Real estate has long-term, stable growth in value. Median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and the number of U.S. households is expected to rise 15 percent over the next decade creating demand.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

7. Stability. Remaining in a fabulous neighborhood like Spring Creek or Prestonwood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity within the marvelous RISD!

Getting Your Home Ready For Market "Must Do's"

2010-06-10T14:07:00.002-05:00

You only have one chance to make a good first impression ...

If you are planning on selling your home, implement as many items as possible from my list of PROVEN listing enhancers. I guarantee your home will sell for more!

1. CLEAN and DE-CLUTTER. Reduce “stuff” everywhere. 2. PAINT. Interior first. Exterior second. 3. CARPETING. Have it cleaned if realistic or replaced. 4. SPRUCE UP YOUR LAWN AND LANDSCAPE. 5. RE-ARRANGE. Stage your home like a model. 6. UPDATE. Kitchens and baths. 7. INSTALL HARDWOODS. It’s “the” hook. 8. LET IN THE LIGHT. Open up the drapes and blinds.

Please feel free to give me a call if you wish to discuss the specifics of your remodeling plans or need the name of a good contractor. I am always glad to help and there is never any obligation!

Dallas Property Taxes Got You Down

2010-06-01T16:11:00.003-05:00

Protest ...

Unfortunately, the deadline for filing your protest ended yesterday. However, there is always next year. It is my priviledge to help any of my friends and clients regarding Dallas property tax problems.

For a primer, visit Protest Your Tax Assessment on my web site. Here you will learn all the basics to successfully appeaingl your tax assessment. Please call me personally if you have ANY problems. No question you have is too elementary. If your question is difficult, I'll get you the answer or put you in contact with someone who knows the answer.

And as always, there is never any cost or obligation!

Riding Green

2010-05-26T16:11:00.002-05:00

On my blue bike in Dallas ...

There is a long story regarding my Blue Schwinn Mountain Bike, but mercifully, I will spare you the details. Just know that I have lovingly improved its condition over the years. With the addition of a set of pannier saddle bags, it has reached "perfection".

I have yet to show up for a listing appointment astride, but maybe soon. In the meantime, I can be counted on to pick up a jar of salad dressing for Dixie at the corner Kroger and to expel a minimum of hydrocarbons (0) in the process.

Dallas "Underwater" Rate Falls To 15%

2010-05-11T14:27:00.003-05:00

I'll take all the good news I can get ...

This is GREAT real estate news! According to the latest figures fromCoreLogic and Scott Brown of the DMN, fewer Dallas area homeowners are finding themselves underwater with their mortgages.

Less than 15 % of area homeowners with a mortgage owed more than their property was worth at the end of the first quarter of this year. That works out to about 110,000 homeowners.

That's a 50% improvement from mid-2009, when an estimated 30 percent of area mortgage holders were upside down.

Nationally, the number of home borrowers who had negative equity declined “slightly” in the first three months of 2010. However, CoreLogic estimates that almost a quarter of Americans still couldn't pay off their mortgages if they sold their homes today. Ouch!

What’s really GOOD NEWS is that North Texas median home prices have risen about 5 percent so far in 2010, according to the Multiple Listing Services (MLS).

No where in Texas and especially Dallas suffered double-digit home price declines in the recession, which have put borrowers in many other markets underwater. In Nevada, 70 percent of home mortgage holders are underwater. And 51 percent in Arizona and 48 percent in Florida are upside down.

A dark cloud on the future of real estate recovery in America is that homeowners who owe more than their property is worth are more likely to default and let the house go into foreclosure. Hopefully this situation will diminish in the months ahead.

You Only Have One Chance

2010-05-04T10:28:00.002-05:00

To make a good first impression ...

I work differently from other real estate agents. Like my “slogo” says, “Anyone can put a sign in your yard, I’ll SELL your house”! That’s because my years of experience have taught me effective ways to sell a home quickly. One marketing technique of major importance is “staging” which involves simple but effective ways to make a home feel more inviting such as:

· Well-placed furniture can open up a room and even make rooms seem larger than they are.

· The best light to show off your room is natural! Opening drapes and blinds makes a room seem bright and cheery.

· The scent of your home can leave a lasting effect on a potential buyer. Freshly-baked bread, cookies or pie are all inviting fragrances. It sounds trite, but it works!

· If a home is vacant, I always call ShowHomes of Dallas for achieving a staged look to the MAX!

Is A Housing Recovery Underway

2010-04-21T10:33:00.003-05:00

You tell me, i'm just a realtor ...

It’s confusing for sure, and not that simple. Perhaps if I was part Nobel Economics Prof Paul Krugman, part Secretary of the Treasury Tim Geithner, and part Fed Head Ben Bernanke I would know … but then, maybe not! Those three don’t agree on that much.

Much of the hope that a recovery is underway is the rebound in housing prices that began in May on ’09. Dennis, prices are moving up, won’t that trend continue? Again, I’m not sure.

My business has been rocking for the last 2 months. Before those two month, going back a year, things have been, well … let’s just say not so good. What will it look like going forward? I’m not sure.

The first time home buyer’s $8K government giveaway has had a huge effect on buyer’s activity, more than the $6500 move up government giveaway. At the end of April ‘10, both of those programs end. Then where’s the “juice”? It’ll be gone. It’ll be time to see if this housing market can stand on its own two feet!

However, this market without incentives will be handicapped. First, no more government tax incentives will be available. Second, the government is going to stop buying so many loans. This will cause interest rates to rise which is totally unhelpful to selling homes. Third, unemployment is going to remain between 9% and 10% for a long while which is totally unhelpful to selling homes (Am I repeating myself?). Fourth, foreclosures which depending on what and who you read, and where in the country you live, are and will continue to remain a large or a gigantic problem with consequences.

Give me more sales like the last two months, and I’ll be really happy. The future will just have to take care of itself.

High Tech

2010-04-13T16:03:00.005-05:00

My systems and methods of communication are state of the art ...

As the old saying goes, "If you want something done, give it to someone who's already busy." (I'm not that busy!)

That said, I just wanted to let you know that I'm still selling lots of homes despite the current economy. (Real estate is comatose compared to what I'm used to ...) The latest technologies are not only helping me to work more efficiently, but they’re also enabling me to provide more personalized service by enabling better communication with my clients. (I barely know how to send an email. I have to get Dixie to show me how to cut and paste. You know I'm in trouble, because the only way she knows how to turn her machine off is by pulling the plug out of the wall.)

So while I know that you probably won’t sell your home for a while, please keep me in mind if you hear that any family or friends are considering a move. (Go to the phone, pick it up, call me!) Although I've been very busy (right), I'll never be too busy to help them (This is true).

Dallas Home Prices Bounce Back 4%

2010-04-03T15:28:00.004-05:00

Increase in pre-owned values is the largest since the upward trend began ...

In Steve Brown's recent DMN column, he reported these encouraging findings lifted from the January Case-Shiller Home Price Index. This is indeed good news for the Metroplex and if the trend continues, well break out the champagne!

It's interesting to note that the Dallas area had the third largest year-over-year home price increase in January of the 20 cities in the survey. San Francisco prices rose 9% and San Diego prices rose 5.9%. Unfortunately, prices fell 17.4% in Las Vegas and 7.4% in Tampa.

It is impossible to determine if this is a trend while unemployment remains at over 9.7% despite recent improvements. Also, the effect that Federal Housing Incentives have had on the market , as well as the effect they "won't have" after they're gone is a big question mark that remains!

We’re Going To Turn “Red Day” Green!

2010-03-22T18:15:00.002-05:00

Red Day is a once-a-year BIG event for Keller Williams Agents all across the country ...

RED (Renew, Energize and Donate) Day is a Keller Williams Realty service initiative dedicated to improving our local communities. All Keller Williams Realty associates in the US and Canada are asked to donate their time on May 13, 2010 to renewing and energizing aspects of their local communities.

I am particularly proud of the fact that my nomination of RISD Academy will be one of the 3 city wide beneficiaries of KW largesse. The other two schools which will be receiving a day of volunteer labor by 100’s of KW agents are Ann Frank and Neely Bryan Elementary Schools in DISD.

You have passed the RISD Academy many times on your trek down Coit Road. A large white structure, it lacks “drive-up appeal” as we say in the real estate vernacular. It’s one of RISD’s largest elementary campuses, educating more than 700 students from first through sixth grade, with 94 percent of the student population considered economically disadvantaged. The outstanding and dedicated staff at RISD Academy has created a safe, student-focused culture and environment of learning and achievement, and the school has earned “Recognized” state accountability status in each of the past four years.

With little to no PTA or community involvement or support volunteers are needed to help with the beautification of the school. This is where Keller Williams and our Red Day Volunteers become involved. Guided by RISD’s Facilities and Maintenance staff, volunteers will assist with the landscape cleaning and trash pickup, and the planting and moving of trees and shrubs to enhance the curb appeal of the school.

RISD, the faculty and staff of RISD Academy, and the agents of Keller Williams believe it is vital to provide our leaders of tomorrow with an education that equips them to become successful, contributing members of society. This includes creating and maintaining an environment that our students take pride in and which demonstrates their excellence.

Is It Really A Great Time To Buy A Home

2010-03-17T15:54:00.006-05:00

Or, are those famous last words ... ?

I read an interesting article in the NY Times recently by Damon Darlin. Mr. Darlin questions Realtors when they offer the opinion to a client that “now” is a great time to buy a home. Can you imagine the nerve, the cheek, the audacity of bringing into question the opinions of a real estate professional such as moi?

Turns out he might have a point. But, his point may be correct, or not. I would love to bring some clarity to the housing market, but I can’t. It seems that every week, there is a contradiction to what was reported the previous week. Existing home prices are going up, home prices are going down. There are too many new homes on the market, there are not enough new homes being built. It’s interesting that the Chinese symbol for opportunity is the same as the symbol of chaos.

Personally, I believe that for the Dallas area, buying NOW provides a once-in-a-lifetime opportunity. My opinion is based on the price of a mortgage, or the cost of a loan. The Federal Reserve can’t predict the course of home prices, but they can predict the price of money for the next 6 month. The likely hood that interest rates will go down further is slim. The chance that interest rates will go up is high.

The savings on a $300K home at 5% compared to 6% on a 30 year fixed rate is about $188/month or $67,680. That’s a hefty chunk of change and the basis of my rationalization for prospective home buyers trying to make a determination as to whether they should be buying a home now, later, or not at all.

Oh, and did I mention the current tax credit of $8K for first time home buyers and the $6500 credit for current home owners? Those US Government offers probably won’t be coming around again so soon!

Housing

2010-03-08T16:14:00.001-06:00

New hope on the horizon ...

According to the March 15th issue of Business Week, Cash-rich builders, the big boys of the home building industry who live on Wall Street, are again buying up tracts of real estate in anticipation of yet another building boom. They are not in bad shape and their share prices have doubled over the last year. Well, maybe boom is a bit optimistic. Personally, I don’t think we’ll see booms again after the Government gets finished regulating the finance industry. Maybe, that is not such a bad thing. I’m more into “steady as she goes” forever.

Pure and simple population growth is taking place, and people will need places to live including single family homes, town homes, condos, apartments, and retirement facilities. Lot prices are already up 50% from their 2009 lows in Southern CA and Florida.

The well established builders with deep pockets have already deeply cut their overhead and are preparing for a resurgence of building. They’re back in the game of competing for land, reflecting confidence that after years of falling prices, rising foreclosures, and busted dreams, better days are ahead.

I particularly liked what Warren Buffet had to say in his February 27th letter to Berkshire Hathaway investors, “within a year or so residential housing problems should largely be behind us.” And to that, Brother Buffet, I add a hearty “Amen”!

We Didn't Have Our New Home Inspected

2010-03-01T16:26:00.012-06:00

We didn't think a new construction home needed to be inspected ...

Think again. Even when you're 100% sure of your builder's reputation, buy yourself some piece of mind and secure a professional inspection. If you are like most people your home is the most expensive purchase you’ll ever make. You want to make sure you’re getting everything to which you’re entitled, if not more!

Keller Williams Reports Record Growth In 2009

2010-02-23T07:59:00.002-06:00

Company gives back $32.2 million in profit share to agents, moves to third-largest real estate franchise in the United States...

AUSTIN, TEXAS (February 22, 2010) — Keller Williams Realty Inc. reported today at its national convention that, despite the battered economy, it closed out 2009 with increased profit, profit share and associate growth. According to CEO Mark Willis, who delivered his annual State of the Company address to more than 8,500 convention attendees, the company gave back $32.2 million in profit share to its agents in 2009, up six percent year-over-year. Since the inception of the profit sharing program, the company has given back $270 million in earnings to its agents.

The gains were driven by an increase in agent productivity, with the number of contracts closed per agent increasing by 16 percent year-over-year. Accordingly, Keller Williams Realty office owners closed the year with a cumulative 86 percent increase in owner profit for the year. On average, the company has grown its business (as measured by the number of closed units) at an annual rate of 27 percent for the past 12 years.

If You Have Sold Your Home ...

2010-02-22T09:51:00.008-06:00

Make the transition for the new owners as smooooth as possible ...

Stress. Today especially, you find it everywhere you look. When you sell your home, make sure the new buyer can conveniently find everything they need to know about their new home conveniently laying on the kitchen counter. If the transaction goes well, a welcoming note would also be appropriate. Owner's manuals and warranties, garage door openers, extra sets of clearly labeled keys, a list of service suppliers (pool, plumbing, yard, utilities), security codes and monitoring companies, and home owner's association names and numbers should all be included.

ShowHomes Of Dallas

2010-02-15T15:39:00.003-06:00

The difference between average and spectacular ...

Sell the SIZZLE! I learned that years ago when I was in the fashion business. Along with the adage, "you only have one chance to make a good FIRST impression"! Both statements illustrate the fact that putting the best foot forward on a vacant listing often involves having ShowHomes of Dallas "stage" the home. In this way, prospective buyers are impressed and the "WOW" factor goes through the roof.

Home Owners May Be Underwater

2010-02-08T07:11:00.002-06:00

But, will they leave the pool ...

Economists are wondering why the foreclosure rate is so low seeing as how so many people are underwater with their mortgages. That's right, LOW. Due to the fact that so many homeowners are living in homes that are worth less than they paid for them, economists are expecting a wave of new foreclosures if home values slip further.

They expect that foreclosures will become "contagious" as homeowners are less likely to think it's immoral to walk away from their home if they know others have done so. If enough people do it, the stigma begins to erode. Make no mistake, there are social and economic consequences of giving up one's home.

However, some think about it this way. Why should I be concerned with paying back back my loan if it is not in my financial interest to pay off a home that is worth 40% less than I paid for it, when lenders are free to do whatever they want to maximize their profits?

We're Friends With Japan As Far As It Goes

2010-02-07T07:51:00.004-06:00

And a big ah, ha...

I read an interesting report in the NY Times on January 24th of this year. Japan, long a staunch ally of the United States is cozying up to China. A year ago, all one could hear about was how much China and Japan despised each other. Well, Japan has a new president and he has woken up to smell the coffee ... or maybe it's the smell of fresh brewed tea. One thing that he does smell is the smell of $$$. China's money, not ours.

According to his article Japan is rethinking its role in Asia at a time when the United States is showing unmistakable signs of decline. "Unmistakable signs of decline," that's a big ah, ha and a statement that gives this Realtor pause for concern and thought.