Posted: Thursday, June 17, 2010
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DFW Real Estate
There are several good reasons why a potential DFW home buyers needs to send their professional home inspector into the attic before they move forward on the purchase of a home. Attics should never be overlooked because it may show the history of the home. It can provide clues to serious problems that might be undisclosed or even known by the current home owners. 
* Rafter Damage or Supporting Trusses Roof inspections won't necessarily turn up defects in the structural members inside the attic. While the roof might look sound and secure, inside the attic you could find broken trusses or rafters. An inspection would disclose stress cracks that could lead to a loss of integrity and would also give buyers peace of mind that the size of the lumber was correct and up to code. * Is There Previous Fire Damage If the trusses and rafters are any other color than natural wood, that could be a sign that the there was fire in that home. If the wood is black, scorched and sooty, it’s a sure sign it had been burned. If the wood is painted white that could indicate that the water, smoke and burned damage was covered up because painting wood helps eliminate the smell. * Is There Adequate Insulation Attics can be insulated in many different ways, including blowing in insulation or laying fiberglass batts. Insulation is rated by an “R” factor meaning the higher the R number, the higher the insulating factor. Ask your home inspector if the batts are facing the right direction (paper up or paper down). * Water Damage Water flows from the top to bottom and it will rarely enter a home sideways. Inspectors should look for water stains on the wood supports or on the walls which would provide evidence that water had leaked or is leaking through the roof somewhere. Condensation can form around pipes, which can cause the wood to rot. * Chimney The interior of the chimney cannot be inspected from the attic, but a home inspector can note whether the chimney structure is solid within the attic area. That portion of the chimney that is not exposed to the elements can also weather and deteriorate. Inspectors will look for cracks in the bricks and whether the mortar has crumbled. * Squirrel, Raccoon and Rodent Damage The first sign that a critter, or critters, have been living in the attic is often evidence discovered in the form of pellets, animal waste. Squirrels and other rodents often enter attics through the eaves or loose boards and can cause considerable damage. Birds and bats may also make a home in the attic. Make sure you retain the services of a profession DFW Realtor to advise you as to what options you have if there is “attic damage” in the home. If you are a buyer this holds especially true if you are buying a DFW Foreclosure home. If you are a seller and there is sever attic damage you may want to consider selling the home to one of those Dallas We Buy Houses companies. There are several good reasons why a potential DFW home buyers needs to send their professional home inspector into the attic before they move forward on the purchase of a home. Attics should never be overlooked because it may show the history of the home. It can provide clues to serious problems that might be undisclosed or even known by the current home owners. Rafter Damage or Supporting Trusses Roof inspections won't necessarily turn up defects in the structural members inside the attic. While the roof might look sound and secure, inside the attic you could find broken trusses or rafters. An inspection would disclose stress cracks that could lead to a loss of integrity and would also give buyers peace of mind that the size of the lumber was correct and up to code. Is There Previous Fire Damage: If the trusses and rafters are any other color than natural wood, that could be a sign that the there was fire in that home. If the wood is black, scorched and sooty, it’s a sure sign it had been burned. If the wood is painted white that could indicate that the water, smoke and burned damage was covered up because painting wood helps eliminate the smell. Is There Adequate Insulation: Attics can be insulated in many different ways, including blowing in insulation or laying fiberglass batts. Insulation is rated by an “R” factor meaning the higher the R number, the higher the insulating factor. Ask your home inspector if the batts are facing the right direction (paper up or paper down). Water Damage: Water flows from the top to bottom and it will rarely enter a home sideways. Inspectors should look for water stains on the wood supports or on the walls which would provide evidence that water had leaked or is leaking through the roof somewhere. Condensation can form around pipes, which can cause the wood to rot. Chimney: The interior of the chimney cannot be inspected from the attic, but a home inspector can note whether the chimney structure is solid within the attic area. That portion of the chimney that is not exposed to the elements can also weather and deteriorate. Inspectors will look for cracks in the bricks and whether the mortar has crumbled. Squirrel, Raccoon and Rodent Damage: The first sign that a critter, or critters, have been living in the attic is often evidence discovered in the form of pellets, animal waste. Squirrels and other rodents often enter attics through the eaves or loose boards and can cause considerable damage. Birds and bats may also make a home in the attic. Make sure you retain the services of a professional DFW Realtor to advise you as to what options you have if there is “attic damage” in the home. If you are a buyer this holds especially true if you are buying a DFW Foreclosure home. If you are a seller and there is sever attic damage you may want to consider selling the home to one of those Dallas We Buy Houses companies.
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Posted: Thursday, June 17, 2010
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Plano Real Estate
Smart consumers will interview two or three potential Plano TX Realtors before deciding on which one to retain. Just as you will size up the potential Realtor you can rest assured that the Realtor will likely be sizing you up too. Stay away from agents who don't ask you questions about your motivation to sell your home. You don’t want to work with just any Realtor off the street, and good agents are just as selective about their clients as well. Ask potential Realtors these qualifying questions. How Long Have You Been in the Real Estate Business?
Their answer much depends on whether they have access to competent brokers who can handle anything that may come up that requires experience that that Realtor may not have. Newer agents tend to have more time to concentrate on your transaction.
What is Your Average List to Sale Price Ratio?
Knowing the agent's average ratio speaks volumes about their ability to perform. A good buyer's agent should be able to negotiate a sales price that is lower than list price for their clients. An experienced listing agent should do well for negotiating sales prices that are very close to the list prices. Listing agents should have higher ratios about 80% or higher.
What is Your Best Marketing Plan or Selling Strategy?
As a Plano home buyer, you will need to know:
· How will you search for my new home? · How many homes will I likely see before I find a home I want to buy? · Will I be competing against other buyers? · How do we handle a multiple offer situation? As a seller, you will need to know: · Specifically, how will you sell my home? · How do you market your listings online? · How high does your company’s web site rank on the major search engines? Will You Be Providing References? · Ask if any of the individuals providing references are related to the agent. · Ask if you can call the references with additional questions. What Are the Top Three Things That Separate You From The Competition?
A good agent won't hesitate to answer this question and will be ready to tell you why they are best suited for your listing. Most consumers say they are looking for Realtors who are:
· Assertive · Honest and trustworthy · Excellent negotiators · Available by phone or e-mail · Good communicators · Friendly · Able to maintain a good sense of humor under trying circumstances May I Review Documents in Advance That I Will Be Required to Sign?
A sign that a Realtor is a professional is a Realtor who makes all the forms available to you for preview before you are required to sign them.
How Will You Help Me Find Other Professional Vendors?
Let the Realtor tell you what professional vendors they work with and why they choose these particular professionals. Your Realtor should be able to supply you with a list of such vendors such as lenders, home inspectors and title companies.
How Much Is The Commission?
All real estate commissions are negotiable. Keep in mind though that some Plano real estate broker firms set a minimum amount that their agents must charge Typically, most Realtors charge a percentage, from 3% to 4% to represent one side of a transaction, a buyer or seller. A listing agent may charge, as an example, 3.5% for themselves and another 3.5% for the buyer's agent, for a total of 7% commission.
Do They Offer a Guarantee?
If you sign a listing or a buyers agency agreement with the Realtor and later find that you are unhappy with their performance, will the Realtor let you out of the agreement? Will the Realtor stand behind their service to you?
Ask all of the Plano Realtors you interview these questions so you can find the one that is the best fit for you. Of course these questions not only apply to buyers and sellers in Plano Texas, these same questions would apply to the near buy Dallas real estate market including the hot Dallas foreclosure market. It is your home and your money on the line make sure you chose the best Realtor you can find to represent you.
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Posted: Thursday, June 17, 2010
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Plano Real Estate
Lots of Plano Realtors will take overpriced listings, but why? Every day these Realtors take on these overpriced listings making their business ethics questionable among their peers. Who cares?" A Realtors reputation is paramount within the communities they work in. When buyers and sellers sign a contract for sale, their Realtors enter into a 30 to 60 day relationship and respect and cooperation with each other is crucial. So why do these Realtors sabotage themselves? Or do they? 
To Secure the Listing · Sometimes It's a Lie.
When a seller interviews each Plano Realtor, often their estimate of value creeps higher. It could be that the first agent knows there will be two other Realtors competing for that listing, so the first Realtor names an very high figure. The second Realtor, upon hearing the first Realtors price, beats it. The third Realtor comes in even higher yet. A seller who choose a Realtor based on which estimate is highest will be the ultimate loser. Yet almost every seller operates in this manner. It's a shame because so few Realtors take the time to educate their sellers that other factors such as marketing and the agent's negotiation skills are much more important than the estimate of value. The comps will give you the best ball park value of the home but ultimately, the market itself will determine the actual value. · Sometimes the Seller has Unreasonable Expectations.
This doesn't excuse the Realtor from explaining how appraisers determine a homes value. A home came on the market on a Lovers Lane in a desirable area of Dallas, but it was priced $80,000 too high. When asked why, the Realtor replied, "I know it's overpriced, but I would have lost the listing to somebody else if I didn't agree to that listing price." As it turns out a home three doors down sold for a high amount, but that home had been meticulously maintained, and it boasted many, many upgrades. By comparison, this home was a fixer upper, but the seller insisted he could get the same high price as his neighbor. Free Advertising for the Realtor Every "For Sale" sign advertises the Realtors company name and the Realtors. Many of these signs contain the agent's Web site and phone number. Some of these signs even sport a color photo of the Realtor. Just think of it like a giant billboard for the Realtor. If the home is located on a major road then all the better. Hundreds of drivers may pass the sign each day and will see that Realtors name. Realtors Find Buyers Through Listings · Calls from the Sign.
If a buyer wants to find out the price of a home, generally they will call the Realtors phone number on the sign and ask them directly. Realtors who are on the ball will try to retain that buyer to work with them, assuming the buyer is not already working with another agent. · Open Houses
Realtors can hold an open house and find prospective buyers that way as well. If the buyer is not interested in the “open” home, and once they find out the price they won't be, the Realtor will then buyer other homes. · Newspaper Print Ads
A Realtor with an overpriced listing often won't put the address in the paper but will list the details along with the price. This way the buyers who can afford to pay that amount will call to inquire about the home. All a Realtor has to do is suggest other homes in that particular price range that are worth what the seller is asking and she's off and running into escrow on another transaction. Not yours. Realtors Will Hope for a Quick Price Reduction Even if a Realtor knows they are taking an overpriced listing, they may be telling themselves that when the home doesn't sell in a few weeks, they can persuade the seller to lower the price and then earn their commission when it sells. They justify their actions and take the listing. Unfortunately, studies show that interest in a home typically wanes after just a few weeks on the market, so here will be fewer buyers for that home when the price is lowered. Buyers also often think there is something wrong with a home if it doesn't sell right away or they worry the seller dropped the price because a major defect was discovered in the home. These price reductions hurt the seller and they often make buyers wonder how much lower the price may drop. So, many times a buyer will often offer even less after the price reduction. Choose your Plano Realtors based on ethics, honesty experience, competence and marketing. Don't chase after those high numbers because in the long run you will end up with less. Generally, these same rules apply to Dallas foreclosure listings as well because a bank is susceptible to the tactics of these same Realtors. If your home is in major disrepair or you have to sell very quickly for any reason you may want to contact a We Buy Houses Dallas companies and see what your options are.
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Posted: Wednesday, June 16, 2010
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DFW Real Estate
It is time to sell your DFW home and you know you have a better chance of selling your home faster and at a higher price when it is staged but you don’t want to spend the money. Staging your DFW home is a bit more than just cleaning the carpet, making minor repairs, cleaning and decorating. It is about creating an illusion of a home space that involves all the five senses. It is about making a potential buyer fall in love with and want to buy your home. Here is how you can make your home more attractive to the buyer. Furniture – Remove most of it. You will want to remove all the excess furniture from a furnished home. In a vacant home add only enough furniture to let buyers visualize the space for themselves. Arrange the furniture in groups. For example; in the living room, break up the space by adding a vignette as a reading area, plus a sofa and coffee table; and in the dining room set the stage with a set table and chairs. Using Soft Fabrics Where Possible Use soft fabrics such as silk, lamb's wool or satin around the house. Drape windows with simple lines. Decorate The Home With Subtle Decoration If you have some knickknacks, arrange them in groupings of 1, 3 or 5 pieces. Add things that will warm up the space. A large flower arrangement adds beautiful colors to the area. Add canned goods to the panty and arrange cookbooks on kitchen shelves and counters. Create a Luxury Feeling in the Bathrooms Spruce up your bathroom with a spa feel by arranging lotions, scented soaps and moisturizing jars in basket and by hanging towels on all towel bars. Arrange a Few Decorative Pieces Throughout Add decorative elements to your shelving, mantel and bookcases in small group scattered throughout. Add a few large decorative pieces: rugs, floor and table lamps, silk flowers, and a few plants.
Staging a DFW homes for sale is more of an art form than anything else. If you have prepare your home properly, it will invite warm feelings from many potential buyers which may turn into offers. The Dallas real estate market remains strong but that doesn’t mean you should look past this very important marking technique of home staging. Even DFW foreclosure properties would benefit from these same staging tips.
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Posted: Wednesday, June 16, 2010
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Dallas Real Estate
It is possible that the price per square foot of a Dallas home could be falling while the total price of the home can go up. This can happen because the per-square-foot costs that you read about are based on one of two computations. To figure the price per-square-foot of the home, simply take the sales price and divide it by the total square footage of the finished, livable space. Example: take a 1,500-square-foot home that is listed for $150,000. The price per-square-foot is $100. Maybe the home across the street is 2,000 square feet, and it is listed at $185,000. The price per-square-foot of the larger home is $92.50. Which is a better buy? Let’s take a look. Average Per Square Foot vs Median Price · Average (mean) price per square foot To arrive at the average per-square-foot cost of any home add the square foot cost of each home that has sold in any given neighborhood and dividing by the number of homes that sold. This will get you the average price per square foot. · Median price per square foot The median price is known as the halfway point. It is the exact middle price point. It means that half the homes in any given community have sold above the median price and half have sold below the median price. It is many times used as a more accurate measure of a home’s value. It is better than a mean price, especially when there are extremes highs and lows in pricing in that community. It too is not a clear picture on its own merits. Per square-foot costs are often used in new construction projects. The square foot cost to rebuild your home should it burn down, if it is an older home, is going to usually be higher than the cost to buy it already built. It is generally not a good idea to base the purchase price of a home you are going to buy on either the median or the average per-square-foot costs. Each property is unique, it is not a one price fits all calculation. Home prices per-square-foot can vary greatly based on, condition, location, improvements and upgrades, among many other factors. The powerful DFW MLS system that Realtors use will list the price-per-square-foot right in the listing so that you can avoid these calculations. So is it better to buy a smaller home at a higher per-square-foot or a larger home at a smaller per-square-foot cost? Well, it depends on the typical average square footage of homes in that particular community. I know that many buyers want to buy the largest home possible but it's not always the best financial choice. How Can You Use the Price Per-Square-Foot Help to Determine a Dallas Homes Values?  The short answer when it come to Dallas real estate for sale: You really can’t. You can't take the average price per-square-foot and multiply it times the square footage of the home you are thinking about buying. It doesn't work that way. The pricing per-square-foot simply gives you average or median ranges which shows you trends. Each value is different especially when you compare a recently renovated and upgraded home against a Dallas we buy houses type property.
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Posted: Wednesday, June 16, 2010
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Plano Real Estate
Is your private information safe? Before a Plano home goes on the market and home buyers begin to come through the door, smart sellers will put away confidential and sensitive information. You might be astonished to learn what “home buyers” can learn about you as they are looking at your home. Your Private Documents · Some potential home buyers will open your drawers and cabinets.
Buyers can innocently, or on purpose, pull open a drawer or cabinet to inspect its construction, or size and come across important personal documents that you might not intend for anyone to see. · Don't leave mail sitting out where a potential buyer can find it.
Many sellers leave piles of opened mail stacked on their kitchen counter. A potential buyer could find out how much you owe on your mortgage or how much money you have in the bank and other information you may not want them to know. These sellers must believe that buyers, and their agent, will not read their personal mail, even when that mail is taped to the front of the refrigerator door. Remove Photos and Diplomas from your Walls
Notwithstanding that all personal items should be removed before the home is shown in the first place, sometimes sellers leave diplomas on the wall. People may form biases and can carry a bias a little too far. As an example, the seller might be a lawyer, and there are buyers who might not feel comfortable buying a home from a lawyer. For whatever reason. Wedding photos may give away the seller's religion or the fact that it is a mixed race marriage, as will certain religious artifacts left in the home. Sometime buyers can be prejudiced. Don't give buyers a way to form any opinion about you at all. It serves no purpose to let buyers form ideas, opinions and prejudice about you from the type of music you like or the type of books that you read. The Contents of your Closets
Many time sellers who are separating or getting divorced feel pressure to sell their home quickly, especially if the partner who remains in the home cannot afford to stay in it. But that is not information sellers will want to share with potential buyers. Yet they do so by making simple mistakes like these. They may as well toss their wallet out the car window going down the highway for just anyone to find. Don't leave any telltale clues around that could give away your motivation to sell. Before you put your Plano homes for sale on the market, get the home ready to show making it safe and secure by empting out your drawers, cabinets and closets and pack up all of your personal items away. If your house speaks to a buyer about you, it's probably saying the wrong thing. I have seen Dallas foreclosures properties for sale that had many embarrassing items in the property that had once belonged to the owner. So before your home shows as a DFW MLS Listing make sure your safety and privacy are protected.
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Posted: Wednesday, June 16, 2010
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Dallas Real Estate
It doesn’t matter what you call it; Price reductions, price adjustments, price improvements, no DFW home owner wants to hear about lowering the price of their Home. In slower markets, buyer's markets, it is not unusual for sellers to have unrealistic expectations for the price of their home. Before Reducing Your DFW Home Price · Answer These Questions 1. Does you MLS listing show a lot of pictures of your home? 2. Is your signage in a prominent visible location, contain a phone numbers and a Web site? 3. What feedback have you received from looking agents and buyers? 4. Are you offering a high enough commission to the selling agents? 5. Have you had many, or any, any showings? · Are You Selling a Slow, Buyers Market 1. Maybe you don't have to sell your DFW home now? When the market is slow inventory is high. Maybe you should take your home off the market for a while. 2. It doesn’t make sense to put an overpriced home on the market that is not going to get any showings, let alone receive an offer. 3. If you don’t have to move, you may want to consider renting out your house or staying put until the market recovers. Starting at the Right Listing Price If you price is too high, you'll need to continually reduce the price until you hit the "magic number”, and by then the buyers will be wondering why the home has been on the market so long and you will ultimately end up with less money than if you listed the home at the “right price” from the beginning: Here are some things to consider: · Realize that your professional DFW Realtor is on your side; enlist their help. · Have your Realtor pull up pending home sales and examine their history. How many days on market before the price was reduced and how much of a price reduction was made? · Compare sold prices with active listings. Are sold prices higher or lower? · Pull the history on active listings to determine how many days on market before the prices were reduced. · Run side-by-side comparisons with active listings. Price yours so it falls in the bottom two to five listings or, if you're really determined, price it a little less (3-5%) than all of your competition. Is Your List Price Too Low? · Even in distressed markets, as home prices continue to trend lower, properties that are priced below what buyers are readily willing and without prodding to pay will usually receive multiple offers. · It's common to have price wars among buyers who are competing, which will then result in an accepted offer for more than list price. Every House Will Sell if the Price is Right, No Exceptions! Every single piece of Dallas real estate for sale will sell at it’s true value. It can be a new home, a renovated home or even a Dallas foreclosure home it will sell if it is priced right. No exceptions!
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