NE TEXAS Real Estate News

Home Buyers are Optimistic About Homeownership!

Home Buyers are Optimistic About Homeownership! | MyKCM

When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who have made similar purchases about their experience, we get opinions and insights, and we read reviews online. There’s no difference when considering a home purchase!

Most homebuyers start by listening to the news to hear what is being said about the real estate market. They check with family and friends about their experience. They spend time online reading reviews about their desired neighborhood.

The challenge is that comments from the news and those closest to us can contradict the data and reports. One source says one thing, while another source says something completely different.

There is a group of homebuyers that are not allowing comments about an upcoming recession to interfere with their decision to buy a home. According to a survey by realtor.com®,

Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home…Despite the fact that they foresee an economic downturn, they generally expressed confidence that a future recession will be better than 2008 for the housing market.”

The report provides more insights from the survey:

  • Nearly 30% of the active home shoppers* surveyed expect the next recession to begin sometime in 2020.
  • 56% of shoppers believe home prices have hit their peak.
  • 41% believe housing will fare better than 2008.
  • 45% of home shoppers feel at least slightly more optimistic about homeownership.
  • 33% reported no impact on their feelings about homeownership.

Homebuyers are aware and making decisions with their eyes wide-open. As the report mentioned,

“The fact that some [36%} home shoppers expect the next recession to be harder on the housing market than the last recession suggests that they are buying homes with eyes wide-open and very sober, if not slightly pessimistic, views of the housing market.

This is a stark contrast to the years leading up to the last recession when ‘irrational exuberance’ was more common and yet another reason to expect that the next downturn will be very different for the housing market than the last.”

Bottom Line

If you are considering buying a home, let’s get together to help you understand our local market and determine if buying a home is the right choice for you now.

*Active home shoppers are those consumers who responded that they plan to purchase their next home in 1 year or less.

Posted by NE TEXAS REALTY GROUP on July 23rd, 2019 9:26 AM

Multigenerational Homes Are on the Rise

Multigenerational Homes Are on the Rise | MyKCM

As loved ones start to get older, we start to wonder: how long will they be able to live alone? Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average age in the U.S. is 78 years old! As a result, 41% of Americans in the market are searching for a home that can accommodate a multigenerational family.

The graph below shows the number of people by generation that purchased a multigenerational home because they will either be taking care of an aging parent or they just want to spend time together.Multigenerational Homes Are on the Rise | MyKCMOf those buyers, 26% indicated they will be taking care of an aging parent, and 14% said they want to spend time with an aging parent. These numbers do not come as a surprise. According to Pew Research Center, 64 million Americans (20% of the population) lived in a multigenerational household in 2016 (Last numbers available).Multigenerational Homes Are on the Rise | MyKCMAn increasing number of studies affirm the benefits of being part of a multigenerational household. These benefits aren’t just for the grandchildren, but for the grandparents as well. According to these two resources:

The University of Oxford

“Children who are close to their grandparents have fewer emotional and behavioral problems and are better able to cope with traumatic life events, like a divorce or bullying at school”.

Boston College

“Researchers found that emotionally close ties between grandparents and adult grandchildren reduced depressive symptoms in both groups”.

This research gives helpful insight into why 41% of Americans are in the market to buy a multigenerational home.

Bottom Line

If you have a home that could accommodate a multigenerational family and are thinking about selling, now is the perfect time to put it on the market! The number of buyers looking for this type of home will only continue to increase.

Posted by NE TEXAS REALTY GROUP on July 10th, 2019 11:53 AM

A Lack of Inventory Continues to Impact the Housing Market

A Lack of Inventory Continues to Impact the Housing Market | MyKCM

The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at National Association of Realtors

“Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

Jessica Lautz, Vice President of NAR

“There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”

Danielle Hale, Chief Economist of Realtor.com

“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

Bottom Line

If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!

Posted by NE TEXAS REALTY GROUP on July 3rd, 2019 11:08 AM

Preparing Your Space for Painting Success

Spending just a little time prepping your walls can make your new coat of paint look sleek, sophisticated, and professionally applied. Setting up your space for success doesn’t have to be a chore—just follow these five easy steps and you’ll be painting in no time.

  1. Cover Up Your Stuff

    Cover up any valuable items that you want to protect from stray paint. The cover-up job doesn’t have to be fancy. A drop cloth, old bed sheet, or even an old shower curtain will work. Then, simply remove any secured items from your walls, such as wall hangings or shelving units.

  2. Tape the Edges of Your Space

    Apply tape around your room’s trim, windows, edges, outlets, and switches. Later, when you’ve completed Step 5, make sure you remove the tape before the paint dries to prevent a sticky situation. Pull the tape off carefully and at an angle to get a clean, finished paint line.

  3. Get Rid of that Hole in the Wall

    Fill up any holes and cracks with spackling material. Lightly sand the spots when you’re done filling them. A dry sponge is a great tool to use for sanding the repaired area.

  4. Give Your Walls a Good Wash

    Wash the walls with a mild household cleaner and let them dry completely before priming or painting.

  5. Prime Time

    Priming is recommended when painting new, bare, or exposed surfaces. You will also want to prime if you are using a light color over a previously dark color. Priming will make your paint go on more easily and will have the best color accuracy.

Posted in:Home Owner Tips and tagged: Home Owner Tips
Posted by NE TEXAS REALTY GROUP on June 24th, 2019 12:21 PM

Why Access Is One of the Most Important Factors in Getting Your House Sold!

Why Access Is One of the Most Important Factors in Getting Your House Sold! | MyKCM

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.

There are four elements to a quality listing. At the top of the list is access, followed by condition, financing, and price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
  4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2 pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

With more competition coming to the market this spring, access can make or break your ability to get the price you are looking for, or even sell your house at all.

Posted by NE TEXAS REALTY GROUP on June 18th, 2019 9:24 AM

The Benefits of a 20% Down Payment

The Benefits of a 20% Down Payment | MyKCM

If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage.

The truth is that there are many programs available that let you put down as little as 3%. Those who have served our country could qualify for a Veterans Affairs Home Loan (VA) without needing a down payment.

These programs have cut the savings time that many families would need to compile a large down payment from five or more years down to a year or two. This allows them to start building family wealth sooner.

So then, why do so many people believe that they need a 20% down payment to buy a home? There has to be a reason! Today, we want to talk about four reasons why putting 20% down is a good plan, if you can afford it.

1. Your interest rate will be lower.

Putting down a 20% down payment vs. a 3-5% down payment shows your lender/bank that you are more financially stable, thus a good credit risk. The more confident your bank is in your credit score and your ability to pay your loan, the lower the rate they will be willing to give you.

2. You’ll end up paying less for your home.

The bigger your down payment, the lower your loan amount will be for your mortgage. If you are able to pay 20% of the cost of your new home at the start of the transaction, you will only pay interest on the remaining 80%. If you put down a 5% down payment, the extra 15% on your loan will accrue interest and end up costing you more in the long run!

3. Your offer will stand out in a competitive market!

In a market where many buyers are competing for the same home, sellers like to see offers come in with 20% or larger down payments. The seller gains the same confidence that the bank did above. You are seen as a stronger buyer whose financing is more likely to be approved. Therefore, the deal will be more likely to go through!

4. You won’t have to pay Private Mortgage Insurance (PMI)

Simply put, PMI is “an insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.”

As we mentioned earlier, when you put down less than 20% to buy a home, your lender/bank will see your loan as having more risk. PMI helps them recover their investment in you if you are unable to pay your loan. This insurance is not required if you are able to put down 20% or more.

Many times, home sellers looking to move up to a larger or more expensive home are able to take the equity they earn from the sale of their house to put down 20% on their next home.

If you are looking to buy your first home, you will have to weigh the benefits of saving a 20% down payment vs. the time and cost of continuing to rent while you save that amount.

Bottom Line

If your plan for your future includes buying a home and you’re already saving for your down payment, let’s get together to help you decide what down payment size best fits with your long-term plan!

Posted by NE TEXAS REALTY GROUP on June 13th, 2019 10:46 AM

Your Fabulous New Dream Home is Now Available

Your Fabulous New Dream Home is Now Available |MyKCM

Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in.

That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome.

Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and lifestyle. The challenge many “boomers” have faced when trying to downsize to the perfect new home has been a lack of inventory.

The average number of years a family stays in their home has increased by fifty percent since 2008, causing fewer houses to come to the market. During the same time, new home builders were concentrating most of their efforts on large, luxury, expensive houses.

However, that is starting to change.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 692,000 units in March. The great news is that more of those homes were sold at the lower end of the price range.

In a press release last week, the National Association of Home Builders (NAHB) explained that:

“The median sales price was $302,700, with strong gains in homes sold at lower price points. The median price of a new home sale a year earlier was $335,400.”

NAHB Chief Economist Robert Dietz offered further detail:

“We saw a large gain at lower price points where demand is strong. In March of 2019, 50% of new home sales were priced below $300,000, compared to 39% in March of 2018.”

Bottom Line

If you are a “boomer” thinking of selling your old house in order to buy a new home that better fits your current lifestyle, now may be the perfect time!

Posted in:General and tagged: Home Buying TipsBudget
Posted by NE TEXAS REALTY GROUP on June 10th, 2019 10:19 AM

New Research Shows Housing Is Affordable For First-Time Buyers

New Research Shows Housing Is Affordable For First-Time Buyers | MyKCM

Home prices have been on the rise for the last seven years, leading many housing market analysts to conclude that first-time homebuyers are being shut out of the market due to affordability concerns.

The National Association of Realtors (NAR) reports on the percentage of First-Time Home Buyers (FTHB) on a monthly and yearly basis. Their latest report shows that FTHB’s made up 33% of buyers in March, which matches their reported share in 2018.

NAR uses survey data from their members to come up with this statistic, so their results do not include every transaction completed. Rather, they only the transactions reported by members who complete the survey.

The other entity that reports on FTHB share is the American Enterprise Institute (AEI). The AEI uses data from mortgage applications that define an FTHB as “any borrower who did not have a mortgage for the preceding three years.”

This means the AEI measurement also includes former homeowners who transitioned out of a home they previously owned and re-entered the market after at least 3 years. The latest FTHB share data from AEI shows that first-time buyers made up 57.5% of all mortgages in August 2018. NAR’s data shows a 31% share for the same time period.

New research from the New York Federal Reserve shows that these traditional reports on FTHB share have been unable to give an accurate depiction of this group’s involvement in the market.

The NY Fed was able to take consumer credit data and identify when a mortgage payment entered a consumer’s credit report to determine when a first-time home purchase was made. Using this data, they were able to show that AEI’s reported FTHB share was consistently 10% higher. The NAR reports were right on par with their findings until 2010, when NAR’s share dropped to the 11% gap seen today.

So, what does this all mean?

First-time home buyers have not disappeared from the market as many analysts had believed. Buying a home is very much a part of the American Dream for younger generations, just like it had been for their parents and grandparents.

This also means that rising prices have not scared buyers away from the market. Many first-time buyers are making sacrifices to save their down payment and make their dream a reality.

Bottom Line

If you are one of the many renters who is scrolling through listings on your phone every night dreaming of buying your own home, there are opportunities in every market to make that dream a reality!

Posted in:General
Posted by NE TEXAS REALTY GROUP on June 7th, 2019 11:02 AM

The Cost of Renting vs. Buying This Spring [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.
  • Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
Posted by NE TEXAS REALTY GROUP on June 5th, 2019 9:56 AM

Home Buyer Demand Will Be Strong for Years to Come

Home Buyer Demand Will Be Strong for Years to Come | MyKCM

There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”.

And while this might be true for some millennials, more and more research has surfaced that shows for the vast majority, owning a home is a major part of their American Dream!

New research shows that 66% of millennials who currently rent are determined to buy a home! Seventy-three percent of those surveyed by Pulsenomics plan to buy a home in the next five years, with 40% planning to do so within the next two years!

Home Buyer Demand Will Be Strong for Years to Come | MyKCM

“Millennials want to own a home as much as prior generations,” Ali Wolf, Director of Economic Research at Meyers Research says. “We saw millennial shoppers scooping up homes in 2018—and 2019 will be no different.”

Bottom Line

Are you one of the millions of renters who are ready and willing to buy a home? Let’s get together to determine your ability to buy now!

Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 29th, 2019 9:48 AM
 

235 Hickory Street
Blossom, TX
3 bedroom 2 bath home in Blossom, TX




Offered at $56,500235hickorystreet.iHouseNet.com

Cute 3 bedroom 2 bath brick home in Blossom, TX. This home is in Prairiland ISD. The exterior offers a large corner lot and storage building. The interior has a kitchen and dining combo, breakfast bar and large laundry room. Sold AS-IS.


Sherry Dickson & Associates Real Estate Team

Mobile: 903-361-2733
sherrydicksonteam@gmail.com
www.sherrydickson.com





Harold Carter, REALTORS | 2741 E. Price St. | Paris | TX | 75460
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 12:03 PM
 

600 Rasure Circle
Sulphur Springs, TX
Nice 3 bedroom 3 bath home in Sulphur Springs, TX




Offered at $210,000600rasurecircle.iHouseNet.com

HUD OWNED HOME FHA CASE# 511-112580. SOLD AS-IS. Great location close to shopping and dining. Nice corner lot with shade trees and large fenced back yard. The interior offers 3 large bedrooms and 3 full bathrooms. Nice kitchen and dining combo with breakfast bar, granite counters and appliances. Large master suite has separate garden tub and walk in shower. Nice sunroom or second living area, extra storage in garage and more. Let's look. Marketed by Olympus AMS. www.olympusams-re.com. All offers submitted at www.hudhomestore.com. CROSSROADS: HWY 11 & Park Springs RD


Sherry Dickson & Associates Real Estate Team

Mobile: 903-361-2733
sherrydicksonteam@gmail.com
www.sherrydickson.com





Harold Carter, REALTORS | 2741 E. Price St. | Paris | TX | 75460
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 12:03 PM

196 County Road 4554
Winnsboro, TX
Great 3 bedroom 2 bath home in Winnboro, TX




Offered at $125,000196countyroad4554.iHouseNet.com

HUD Owned Home. Case#511-187903. SOLD AS-IS. Secluded 3 bedroom 2 bath home located in Winnsboro near Horseshoe Bend Lake. Great location with fenced yard and storage building. Marketed by Olympus AMS. www.olympusams-re.com. All offers submitted at www.hudhomestore.com. CROSSROADS: FM 2088 and County Road 4550


Sherry Dickson & Associates Real Estate Team

Mobile: 903-361-2733
sherrydicksonteam@gmail.com
www.sherrydickson.com





Harold Carter, REALTORS | 2741 E. Price St. | Paris | TX | 75460
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 12:03 PM
 

56 Erin Drive
Pottsboro, TX
Great 3 bedroom 3 bath home in Pottsboro, TX




Offered at $220,00056erindrive.iHouseNet.com

Lake Texoma home in the Cambridge Shores subdivision. This home is a 3 bedroom 3 bath home with detached garage workshop and additional lots. The interior offers a large living room with fireplace, office on second floor, nice sized kitchen and additional living and dining areas. Come take a look at this one. Sold AS-IS.


NE Texas Regional Realty-Kevin Riney, Broker

Office: 903-361-2733
netxrealtysales@gmail.com





NE Texas Regional Realty | 1700 FM 195 #111 | Paris | TX | 75462
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 12:03 PM
 

1024 Finsbury Lane
Forney, TX
Don't miss out! 4 bedroom brick home in Forney, TX




Offered at $315,0001024finsburylane.iHouseNet.com

HUD Owned Home FHA Case# 511-171744. Sold AS-IS. Beautiful executive home in the Devonshire Addition of Forney, TX. This home offers 4 bedrooms and 2.5 baths with split floorplan offering the master suite on the first floor. This home has nice hardwood floors, granite counters, stainless appliances, formal dining and office. The exterior has a fenced back yard overlooking the walking trail, covered patio and much more. This home is a must see and will not last long! Marketed by Olympus AMS. www.olympusams-re.com. All offers submitted at www.hudhomestore.com. Cross Streets: Highgate Rd & FM 548


NE Texas Regional Realty-Kevin Riney, Broker

Office: 903-361-2733
netxrealtysales@gmail.com





NE Texas Regional Realty | 1700 FM 195 #111 | Paris | TX | 75462
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 12:03 PM
Sellers are often doing overwhelming double duty.
  • They want to know all about the neighborhood competition, so they can disregard those competing listings. Sellers look for confirmation that their home is "the one."
  • At the same time, sellers may also be buyers, shopping in another real-estate-price range or location for their next home. Resulting double-duty stress may leave them too distracted and exhausted to limit emotional reactions to the offers they receive. This can prevent them from properly weighing offer details.

Buyers and sellers are only interested in "the one," but professionals know that every property they view augments their expertise. Their growing body of knowledge adds to their practical value for the buyers and sellers they serve.

Professionals view real estate because they love this work. They gain their livelihood from perfecting their skill in quickly and accurately evaluating each property they tour. Professionals are determined to analyze and retain information as they work, knowing they'll use this knowledge to serve their clients. Buyers and sellers would rather just walk into "the one" and be done.

2017 Resolution: Stop doing the work a professional is trained to do for you in the process of arranging the best deal in real estate and mortgages. Instead, in 2017, concentrate on selecting professionals who are trained to serve you and have acquired the expertise to outsmart those selling you things.

Invest time understanding the type and level of expertise you need to achieve your goals. Investigate a few professionals to discover the best match. Ask for disclosure of any relationships, biases, and fees that will slant the professional toward or against specific lenders, companies, properties, or products. Some professionals sell their companies products exclusively; others offer independent, open market searches.

With the chosen professional clarify exactly what you want, need, and don't want. Ask a lot of questions, answer their questions, and let them get to work for you. Leave them to view dozens and dozens of properties on your behalf. If you're shopping for a mortgage, let the professional scour the field of lenders.

The real estate professional will relay details and photos or videos of their findings and zero in to locate the handful of possibilities that you should see firsthand. Your mortgage broker will present the pros and cons of the few ideally-suited mortgages. In all cases, the choice will be yours.

If you're a seller, use your freed-up time to de-clutter the house and keep it pristine. If you are a buyer, concentrate on getting your finances in order and saving more money to buy the house or arrange a smaller mortgage. Or, in either case, just take a stress-free break.


Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 23rd, 2019 9:37 AM

Clear it out and clean it up

The first step in preparing any home for sale is to clear it out and clean it up, getting rid of clutter and personal items and scrubbing it down.

De-cluttering -- and having a pristine home from top to bottom -- are the no-brainers that can make your real estate look better than the house down the block. Your home must be cleaner and less cluttered than it's ever been. You need to banish not just the day-to-day buildup (the mail, the shoes, last season's clothes, the dog hair), but also several years' accumulation.

Removing kids' toys, outdated furnishings, and excessive knickknacks can help. Whatever you can't sell or donate, box up and store at a friend or relative's house, or rent a storage unit for a couple of months. Or, if you can do so neatly and without compromising your garage space, stack them along a wall.



Depersonalize

A house that reflects your personal style from floor to ceiling and all over the walls (and every other surface) will have a hard time appealing to buyers.

Prospective buyers won't be able to picture themselves in the house if they're surrounded by dozens of photos of your children and grandparents.

Update the bathroom

Not everyone has the funds for a big bathroom renovation prior to selling. Smart changes can make a big difference.

Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer.

Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.

Pay attention to design details

After you've cleared away the clutter, you want to focus on creating simple, elegant designs. It's easier than it seems.

For a visual impact on a table without a lot of fuss, remember a design basic: Groupings of odd numbers always do the trick! Three of a kind, like…hurricane jars, filled with something as simple as pinecones, makes a ridiculously easy and dynamic table scape.



Up your curb appeal

Make sure you make a great first impression, or you might not have an opportunity to make a second impression.

You may have spent hours making sure the kitchen is clean, and doing so is worth the effort. But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway.

Pay attention to odors

We get used to our environment, so we might notice that musty smell or cat box aroma. Have your realtor or a trusted friend do a walk through and give you an honest assessment—not just of the way the house looks, but how it smells. Then take action to improve it. Start by steam cleaning the carpets and any upholstered pieces that need it.

Don't ignore the windows

Windows that are cloaked by outdated or heavy window coverings can negatively impact the image your home projects. Open the blinds and replace drapes with inexpensive versions that will let the light in and frame the views.



Upgrade the Furniture

Giving your home a fresh, clean look with new furniture can make it feel more modern and appeal to more buyers. Don't have money for new stuff? Try giving worn-out pieces a pick-me-up with new pillows or a slipcover.

While you're at it, take a look at your furniture layout too. Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends.

Give rooms a single purpose

That home office that doubles as a guest room is useful, but when it comes time to sell your home, pick one and run with it. Potential buyers are confused by extra rooms that have a mishmash of uses.

Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 22nd, 2019 11:23 AM
        

What to Consider When Choosing Your Home To Retire In

What to Consider When Choosing Your Home To Retire In |MyKCM

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability

“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $9,700 in equity last year.

3. Maintenance

“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”

As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the maintenance work yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

As scary as that thought may be, any additional security is helpful. An extra set of eyes looking out for you always adds to peace of mind.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Consider all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. Convenience

“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!

Posted in:Home Buying Tips and tagged: Home Buying Tips
Posted by NE TEXAS REALTY GROUP on May 21st, 2019 9:52 AM

How Quickly Can You Save Your Down Payment?

How Quickly Can You Save Your Down Payment? | MyKCM

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.

Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.

By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.

According to the data, residents in Kansas can save for a down payment the quickest, doing so in just over 1 year (1.12). Below is a map that was created using the data for each state:

How Quickly Can You Save Your Down Payment? | MyKCM

What if you only needed to save 3%?

What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3%-down programs? Suddenly, saving for a down payment no longer takes 2 to 5 years, but becomes possible in less than a year in most states, as shown on the map below.

How Quickly Can You Save Your Down Payment? | MyKCM

Bottom Line

Whether you have just begun to save for a down payment or have been saving for years, you may be closer to your dream home than you think! Let’s get together to help you evaluate your ability to buy today.

Posted by NE TEXAS REALTY GROUP on May 20th, 2019 1:21 PM

Renters Paying Substantially More While Owning Costs Less

Renters Paying Substantially More While Owning Costs Less | MyKCM

In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.

“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”

Renters Paying Substantially More While Owning Costs Less | MyKCM

Why the difference between the costs of renting versus owning?

It makes sense that rents have risen. However, how did mortgage payments decrease? CoreLogic explained:

“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018.

The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then – $941 – compared with $904 in December 2018.”

Additionally, a recent report by the National Association of Realtors (NAR) showed that purchasing a home requires less of your monthly paycheck.

According to the Economists’ Outlook Blog, NAR’s February 2019 Housing Affordability Index showed that the “percentage of income needed” to pay the typical mortgage has decreased the last three months.

  • November – 17.3%
  • December – 16.9%
  • January – 16.2%
  • February – 15.9%

Bottom Line

What does this all mean to the current housing market? We think First American said it best in a post last week:

“The mortgage rate-driven affordability surge has arrived just in time… Rising affordability has already benefited home buyers and, if the lower rate environment persists, we’re in for a great spring home-buying season.”

Posted in:Home Buying Tips and tagged: Home Buying Tips
Posted by NE TEXAS REALTY GROUP on May 16th, 2019 9:54 AM

New Study Reveals One Surprising Reason for the Inventory Shortage

New Study Reveals One Surprising Reason for the Inventory Shortage | MyKCM

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.

While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.

Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market.

If millennials are unable to find a home to buy at a young age like their predecessors, then who is living in those homes?

The answer: Seniors born after 1931 are staying in their homes longer than previous generations, instead choosing to “age in place.”

Freddie Mac found that,

“this trend accounts for about 1.6 million houses held back from the market through 2018, representing about one year’s typical supply of new construction, or more than half of the current shortfall of 2.5 million housing units estimated in December’s Insight.

Older Americans prefer to age in place because they are satisfied with their communities, their homes, and their quality of life.”

According to the National Association of Realtors, inventory of homes for sale is currently at a 3.5-month supply, which means that nationally we are in a seller’s market. A ‘normal’ housing market requires 6-7 months inventory, a level we have not achieved since August 2012.

“The most important fundamental in today’s housing market is the lack of houses for sale. This shortage has been identified as an important barrier to young adults buying their first homes.”

Bottom Line

If you are one of the many seniors who desires to retire in the same area you’ve always lived, you’re not alone. Will your current house fit your needs throughout retirement? If you have any questions about demand for your house, let’s get together to discuss the opportunities available today!

Posted in:Home Buying Tips and tagged: Home Buying Tips
Posted by NE TEXAS REALTY GROUP on May 14th, 2019 9:33 AM

With Inventory Low: Will Your Dream Home Need Some TLC?

With Inventory Low: Will Your Dream Home Need Some TLC? | MyKCM

According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value!

Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate.

“The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating.

Replete with inspiration at their fingertips – like Pinterest, Instagram, and various home renovation TV shows – some home shoppers are comfortable tackling home renovation jobs to find a home that balances their needs with their budget.”

Just over half of all respondents who said they would be willing to buy a home in need of some TLC, would also spend more $20,000 to make the home fit their needs.

The most common ‘expected’ renovation is a kitchen remodel which can run anywhere from $22,000 for a minor remodel to $66,000 for a major remodel.

This isn’t a new trend by any means. According to the Joint Center for Housing Studies at Harvard University, home improvement project spending reached a new high in 2018.

“Americans spent $336.9 billion on remodeling projects, up 7.4% from the $313.6 billion a year earlier.”

Home renovation television shows have given many buyers hope that they could renovate a home they can afford into their dream home!

Bottom Line

If you are one of the many Americans considering buying a home this spring, let’s get together to help you find a house with the potential to be your dream home!

Posted in:Home Buying Tips and tagged: Home Buying Tips
Posted by NE TEXAS REALTY GROUP on May 10th, 2019 9:16 AM

Homeowners have big windows that bring light, views and the outdoors into their homes or recreational properties. But all that glass can be a killer. Every year, millions of birds die when they fly into glass.

Commercial buildings were once thought to be the biggest culprit, with confused birds flying into windows at night. That still accounts for large numbers of bird deaths, but more recent research shows that one and two-storey homes and cottages are to blame for the majority of bird strikes. Most of those strikes happen during daylight hours.

Putting visual markers on the exterior of the glass is more effective than pulling down blinds or closing curtains but they have to be installed correctly. Many people put up hawk silhouettes, but they don't work well. Birds may avoid the immediate area where the silhouette is because they see something is there, but the rest of the window is still exposed.

Residential tape or dots placed on the outside surface of windows is more effective. Spacing dots in 2x2-inch or 2x4 inch patterns is enough of a visual cue and from inside the dots aren't noticeable.

Pick a contrasting color, for example white dots on a window shaded by overhangs.

Being bird friendly may even be an excuse to get out of a household chore.

During mating season, aggressive male robins and jays tend to bump against the window, thinking their own reflection is another bird.

Applying soap to the windows will help. On the bright side, when it rains you'll have clean windows, but the downside is that you'll have to reapply.


Winter is also a bad time for bird strikes, as more people put bird feeders in their yards. Position bird feeders less than 1.5 feet from your windows, or more than 30 feet away, to prevent birds from flying into bird feeder reflections. Having the feeder more than 30 feet away reduces the chance of a feeder being reflected in the window and having it closer than 1.5 feet away means birds have already started to slow down and if they do hit the window may not be as badly injured.

If you find an injured bird contact your local wildlife rehabilitator for further instructions.


Posted in:Home Owner Tips and tagged: Home Owner Tips
Posted by NE TEXAS REALTY GROUP on May 8th, 2019 2:50 PM
If Your Home Hasn’t Sold Yet… Definitely Check the Price! | Simplifying The Market

If Your Home Hasn’t Sold Yet… Definitely Check the Price!

The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong ­throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it could be the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prosp­­ective buyers that will even see your house. See chart below.

If Your Home Hasn’t Sold Yet… Definitely Check the Price! | Simplifying The Market

Bottom Line

The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.

Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 7th, 2019 4:16 PM

Selling Your House: Here's Why You Need A Pro In Your Corner!

Selling Your House: Here’s Why You Need A Pro In Your Corner! | MyKCM

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try to sell their homes on their own rather than using the services of a real estate professional.

Real estate agents are trained and experienced in negotiation while, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO):

  • The buyer, who wants the best deal possible
  • The buyer’s agent, who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The termite company, if there are challenges
  • The buyer’s lender, if the structure of the mortgage requires the sellers’ participation
  • The appraiser, if there is a question of value
  • The title company, if there are challenges with certificates of occupancy (CO) or other permits
  • The town or municipality, if you need to get the CO permits mentioned above
  • The buyer’s buyer, in case there are challenges with the house your buyer is selling

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Let’s get together to discuss all that we can do to make the process of selling your house easier for you.

Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 6th, 2019 9:36 AM

Looking to Upgrade Your Current Home? Now's the Time to Move-Up!

Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! | MyKCM

In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.

Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen as much interest.

This mismatch in demand and inventory has created a Buyer’s Market in the luxury and premium home markets according to the ILHM’s latest Luxury Report. For the purpose of the report, a luxury home is defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that the current conditions at the higher end of the market are no cause for concern,

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. It could mean a secluded home with a ton of property for privacy to one person, or a penthouse in the center of it all for someone else. Knowing what characteristics you are looking for in a premium home and what luxury means to you will help your agent find your dream home.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!

Posted in:Home Buying Tips and tagged: Home Buying Tips
Posted by NE TEXAS REALTY GROUP on May 3rd, 2019 9:22 AM
To view this property website, click the picture or visit: http://9367morrisdrive.iHouseNet.com
 

9367 Morris Drive
Quinlan, TX
2 bedroom 1 bath home in Quinlan




Offered at $32,300 9367morrisdrive.iHouseNet.com

2 bedroom 1 bath home in Hawk Cove area of Lake Tawakoni. This home is located in the Whiskers Retreat Subdivision and is in the Quinlan ISD. The home offers a circle driveway, attached carport and storage area, wood deck and lots of shade trees in the back yard. The interior has a split floorplan with a bedroom on each floor.


NE Texas Regional Realty-Kevin Riney, Broker

Office: 903-361-2733
netxrealtysales@gmail.com





NE Texas Regional Realty | 1700 FM 195 #111 | Paris | TX | 75462
Posted by NE TEXAS REALTY GROUP on May 1st, 2019 3:02 PM
To view this property website, click the picture or visit: http://152nw25thstreet.iHouseNet.com
 

152 NW 25th Street
Paris, TX
3 bedroom 1 bath home in NW Paris




Offered at $22,900 152nw25thstreet.iHouseNet.com

Cute NW Paris home with vinyl siding and corner lot. This home offers a detached garage. The interior has 3 bedrooms and 1 bath, hardwood floors and separate dining room. This home would be a great investment opportunity. Let's look!


NE Texas Regional Realty-Kevin Riney, Broker

Office: 903-361-2733
netxrealtysales@gmail.com





NE Texas Regional Realty | 1700 FM 195 #111 | Paris | TX | 75462
Posted by NE TEXAS REALTY GROUP on May 1st, 2019 3:00 PM
5 Reasons You Should Sell This Summer | Simplifying The Market

5 Reasons You Should Sell This Summer

Here are five reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is currently at a 4.2-month supply, well under the 6-months needed for a normal housing market. This means, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory could be coming to the market soon.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.

Also, builder’s confidence in the market has hit its highest mark in over 11 years. Experts are predicting that new construction of single-family homes will ramp up this summer.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae anticipates an acceleration in home sales that will surpass 2007’s pace. As the market continues to strengthen, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to a new low of 42 days, after seeing a 12-month high of 48 days in January.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 4.9% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

You can also lock in your 30-year housing expense with an interest rate around 4% right now. Rates are projected to increase in the next 12 months.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Posted in:Home Selling Tips and tagged: Home selling tips
Posted by NE TEXAS REALTY GROUP on May 1st, 2019 2:57 PM
To view this property website, click the picture or visit: http://1226arizona.iHouseNet.com
 

1226 Arizona
Princeton, TX
Must see 4 bedroom home in Princeton, TX




Offered at $229,500 1226arizona.iHouseNet.com

Great 4 bedroom 2 and half bath brick home in the Cypress Bend Addition of Princeton, TX. This home is only minutes from McKinney for shopping and dining. Come take a look at this 2 story home with split bedroom floorplan, large master suite with walk in closet on first floor, attached 2 car garage, fenced back yard, 3 additional bedroom and bath on second floor, granite counter tops, tile flooring and more. This one will not last long! Let's look!


Sherry Dickson & Associates Real Estate Team

Mobile: 903-361-2733
sherrydicksonteam@gmail.com
www.sherrydickson.com





Harold Carter, REALTORS | 2741 E. Price St. | Paris | TX | 75460
Posted by NE TEXAS REALTY GROUP on May 1st, 2019 2:56 PM

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