Buyer

Information pertaining to buyers

Home Inspections – Items That Aren’t Deal-Breakers

Contract 01After making an offer on a home, you’ll enter into a contract. Part of that contract should always include getting a home inspection. It is recommended that any homebuyer make an offer to purchase contingent upon a home inspection. This allows you to withdraw your offer if there are any major issues discovered during an inspection.

More than likely, the home inspector will find problems that need to be fixed before closing. Major foundation issues and significant water damage are at the top of the list of signs to walk away from.

On the other hand, there are some home defects found during an inspection that don’t have to be deal-breakers. Many of them can be fixed, and they can be used to negotiate with the seller for a lower price point or additional help with the closing costs.

homeinspection2Lead-Based Paint
Lead-based paint was banned in 1978, but it’s still possible that you could purchase a home that contains it if it was built before the ban. The sellers should disclose this, but the home inspector may find it, as well.

Ultimately, it is up to you to decide how comfortable you are with purchasing a home that has lead-based paint, but it doesn’t have to be a deal-breaker. You can hire a contractor who is certified to remove lead-based paint, and the home will be completely safe.

Concrete Floor Cracks
Cracks in a concrete basement floor may seem like a structural problem, but this is natural and not indicative of significant damage. Small cracks occur in concrete because it’s a porous substance. These cracks can be fixed at a relatively low cost, and shouldn’t be a reason for you to back out of a contract.

What is something that’s cause for concern are cracks in concrete walls, as these may or may not be associated with the structure. If the wall has moved or if the cracks have a large opening, then these would be deal-breakers.

Mold
Mold is something that no one ever wants to see in a home you put an offer on, but a little bit of mold by the shower doesn’t mean you need to back out of your offer – at least not immediately.

If mold is found during the home inspection, have a qualified mold inspector take a look. Not all molds are toxic, but the safest way to determine if this is a deal-breaker is by hiring a mold professional.

pestcontrol1Bug Infestations
Bug infestations can cause significant damage to the home’s structure if they aren’t exterminated quickly and efficiently. A home inspector may find signs of an infestation during an inspection, but how do you tell if it’s truly a deal-breaker?

The best way to know if there is pest damage to the home’s structure or foundation is to ask a qualified pest expert to do an additional inspection of the home. Someone who is a specialist will be able to tell you if the home just has a few bugs, or if you need to rescind your offer.

When problems arise during home inspections, it doesn’t always mean you have to back out of your contract. Home inspectors will often find problems outside of their scope of expertise, so always get a second opinion from a specialist before making a final decision. In many instances, these problems are opportunities to negotiate with the seller. You can request that the seller do the repairs, or ask for money to put towards repairs.

homeinspection3You can also ask the seller to include a home warranty on the home in the contract of sale, but it won’t repair the problems found in a home inspection contract. A home warranty is there to protect you from aging systems and appliances after you buy. Think of getting car insurance on a car that was just wrecked and then opening a claim – it wouldn’t work, because the insurance was put on after the damage happened. The same goes for a home warranty.

Information provided by Keller Williams Dallas Metro North. Call us today – we have over 400 qualified agents ready to assist you with your real estate needs!

5 Tips to find the right Realtor

Realtor 02Once you’ve decided to sell your home, you need a trusted guide by your side: Realtor, of course! Your realtor will be a trusted partner in this most important of all transaction. Here are 5 ways to find a Realtor who’s right for you.

Gather referrals, but take them with a grain of salt

There are a lot of agents out there. So how do you choose? Go ahead and ask your pals for referrals, but don’t fall into the trap of picking an agent purely because of rave reviews. The old mantra of location, location, location applies to real estate agents as much as homes.

“You want a Realtor who is very familiar with your area—and not just what he can pull up online,” says Wendy Flynn, a Realtor in College Station, TX. The reason is simple: If they’ve spent time in the area, they’ll know how to market your house there.

So a better question to ask your friends than “Know any real estate agents?” is, “Know a real estate agent who’s sold any properties in my area in the past few years?”

Test their communication skills

Once you have your list of potential agents, email them or call their office, then sit back and wait. This is your first test of a key component: how responsive will your agent be? Ideally, she should get back to you that same day.

“If it takes longer than four business hours without a decent explanation, I would be cautious,” says Chandler Crouch, broker for Chandler Crouch Realtors in Fort Worth, TX. Imagine if you’ve got competing offers on the table, or if some problem comes up with the home inspection. You don’t want to wonder where your agent is and whether you’ll hear back from her!

Probe their experience

Your initial conversation with a prospective listing agent should be like any job interview: Don’t be afraid to ask the tough questions right off the bat. A good agent should know his stats, and any dancing around these numbers could mean he’s hiding something. According to Crouch, you should ask the following:

  • How long have you been in business? Aim for Realtors with at least two years of experience, enough time to learn the ropes and finesse their marketing and selling plans. Time (on the job) is money (in your pocket).
  • How many houses did you sell last year? Look for agents with double-digit sales. “I wouldn’t consider an agent unless they had 20 or more sells a year,” Crouch says.
  • What percentage of your listings do you sell? Ideally you want an agent who has sold an average of 60% to 80%.
  • What is the average list price to actual sell price ratio for your listings? This can fluctuate by market, but you should still look for high numbers. “I would set a low bar of 95% to be acceptable for even the worst market conditions,” Crouch says.

Assess their marketing skills

Everyone knows that to sell a house quickly (and get the big bucks) you need to reach as many eyeballs as you can. And the way to suss out an agent’s ability to do that is to ask these questions:

  • How will you market my home? A Realtor should use at least a good brokerage website to showcase your listing, national listing portals such as realtor.com®, and an email subscription list.
  • How will you use social media? They should use at least Facebook and Twitter to market listings; they get bonus points if they post photos on Instagram.
  • What offline materials do you use? While most marketing is done online now, your Realtor should still make use of tried-and-true methods such as fliers, yard signs, and brochures, especially at an open house.
  • How much do you spend on advertising? “Don’t stop asking until you get a solid dollar figure,” Crouch says. Advertising costs vary widely by area, but Realtors should consistently spend a portion of their business expenses on advertising. By asking for a set amount, you’ll know if they’re doing that or not.

Don’t shoot for cheap

Finally, don’t assume the most inexpensive agent is the one for you. While agents work at different price points and some may take a lower commission, they should be confident enough in their abilities to stand by their prices, according to Crouch. So when you’re talking terms, he recommends asking agents if they’ll work on a discount. If they jump at the chance early on in the conversation, that might be a red flag.

“Think about this: If the agent can’t even negotiate to protect their own money, how likely do you think it will be for them to go to bat to protect your money?” Crouch says. “It’ll be a test of confidence in their own services at least.”

by Angela Colley, real estate writer for Realtor.com 

 

Information provided by Keller Williams Dallas Metro North. Call us today – we have over 400 qualified agents ready to assist you with your real estate needs!

How To Hire a Mover

Moving - 2When moving, there’s a million small details to juggle. Hiring a moving company can save you a bundle of stress, but it’s important to note that not all moving companies are the same, and you want to make sure your items are safe and secure in the hands of your movers.

Here are some tips to keep in mind when looking to hire a moving company:

Hire a licensed company – Be sure to only use a licensed moving company and check for a valid U.S. Department of Transportation number on the main DOT website.

Find reassurance in valuation – Even if movers are bonded and insured, verify if belongings are covered during the move. Some states require a valuation of 60 cents per pound of coverage but in many cases additional valuation can be purchased for the move.

shutterstock_28772560Avoid imposters – Visit the official site of the moving company and ensure there is a local address and the office is staffed.

Get a real quote – Inspect the website to ensure they will not sell personal information to other movers to provide the quote and avoid sites that feature multiple quotes from different companies. Never pay for an estimate and consider an on-site estimate to ensure accuracy for larger moves.

Inquire about the movers – Be careful if choosing to move forward with a company that employs temporary or day laborers and does not have Workers’ Compensation coverage should anything happen.

moving - 3Research options – The Internet is filled with reviews and comments on social media pages, so take the time to read about pros and cons of a potential company. Learn from customers’ experiences and look into complaints on the Better Business Bureau website, as well. Understand, not every move can be perfect, but if the company is taking time to respond to customers comments and work toward resolution, it is a good sign.

Don’t fall for a too good to be true price – If the price seems like it is too good, it probably is going to cause headaches and problems down the line. Moving is expensive – even if completed without movers – be sure to look at all of your options as it’s best to go into the process prepared. Also, never move forward with a company that only accepts cash.

Check for hidden fees – When asking about pricing, be sure to understand what is included and if there are cancellation fees or a nonrefundable deposit. Most companies will refund a deposit if within a certain amount of days before the move, and see if there are extra fees for stairs, mileage or large items. Some movers will offer complimentary padding and stretch wrap to protect furniture, but not all companies will.

Movers - 6Reputation is important – Many reputable movers belong to the American Moving and Storage Association. Identify if a prospective company is a member before booking a move.

Ask for references – Get advice from friends and family who have had a good experience with movers. Did they feel like they were communicated with throughout the process and were told a window of time for the movers to arrive? Don’t forget to ask questions to feel confident with booking a company.

Information provided by Keller Williams Dallas Metro North. It’s highly beneficial to have a professional knowledgeable, local real estate agent by your side. Call Keller Williams Dallas Metro North today – we have over 400 qualified agents ready to assist you with your real estate needs!

Summer in North Texas – Fun Fun Fun!

Summer Heat? … Pshaw!! North Texas has it all when it comes to fun summertime outdoor activities. So many things to see and do under our beautiful Texas blue skies. So grab a Texas sweet tea and explore all North Texas has to offer!

Bartonville Farmers Market
Bartonville Town Center, 2652 FM-407 Bartonville TX 76226
Every Wednesday and Saturday from 8 a.m. to sell-out

Lakeside Music Series
The Shops at Lakeside DFW, 2314 Lakeside Parkway
Every Friday from 7:30 to 9 p.m. through the second week of November.

Dallas by Chocolate Foodie Tours
chocolate tourA fun way to learn more about our area, these luxury bus and walking tours take groups and individuals on Corporate Team Building, Taco & Margarita, BBQ, Bishop Arts, Best of Everything, Hidden Dallas, Italian, Bacon, Wine, Scavenger Hunt, Best of Everything and Chocolate Tours. Named “One Of The Ten Best Things To Do In Dallas” by USA Today.

Walking Friends and Fun Meet-up group
Nature hikes, urban hikes, park walking, leisure bike riding and the company and friendship of nice people – the motto of this group is “Get off the Couch!” The group is not about extreme exercise but they do enjoy getting out and being active.  Everyone is welcome!

Evenings on Oak Street Concert Series
Austin Street Plaza, 221 N. Oak Street, Roanoke. 7 – 8 p.m.
Next concert scheduled for August 10 – continues through September 21. Check website for exact datesfireworks.jpg

Friday Fireworks in Grapevine
A 12-minute show every Friday night over Lake Grapevine at 9:30 p.m.
Fridays, May 26 – September 4, 2017

Yoga in the Plaza
Wayne Ferguson Plaza, 150 W. Church Street, Lewisville
Every Wednesday until September 20, 6 p.m. Bring your yoga mat or towel/blanket, water, and your family & friends!

Lewisville Lake Environmental Learning Area (LLELA) Nature Preserve
offers a variety of outdoor experiences for all ages. Kayaking, hiking, stargazing, bird walk, nature hike, tours of Minor-Porter Log House. LLELA is 2,000 acres of prairies, forests, and wetlands managed as a wildlife preserve by the U.S. Army Corps of Engineers, University of North Texas, City of Lewisville, and Lewisville ISD.

Denton County Farmers’ Market
Corner of Mulberry Street and Carroll Boulevard, Denton TX
Every Tuesday, Thursday and Saturday from 7 a.m. to sell-out, through September

Highland Village Concerts in the Park
Doubletree Ranch Park, 7:00 p.m.
Through September 23Events - Balloon Festival

Highland Village Lions Club 30th Annual Balloon Festival
Friday, August 18-Sunday, August 20, 2017
HV Unity Park, located near intersection of Briarhill Blvd and FM-407

Glow in the Dark Nerf Wars!
The Battlefield, 1512 I-35W, Denton 76207
Saturday, July 22, 2017 6:00 – 8:00 p.m.

Fort Worth Rockin’ the River – Tubing on the Trinity & Live Music Series
Panther Island Pavilion
Every Saturday until August 5th

Information provided by Keller Williams Dallas Metro North. Over 400 qualified real estate agents to assist you with all areas of real estate. Contact us today!

KW | Dallas Metro North outperforming NTREIS!

Keller Williams Dallas Metro North is outperforming NTREIS!! Look at our figures: We’re selling $25,552 higher per home, taking 3.2% more listings and selling them 20 days faster in June 2017. Call us today for help with your real estate needs!

LORE JULY

It’s highly beneficial to use a professional, knowledgeable, local real estate agent! Call Keller Williams Dallas Metro North today!!

Existing Home Sales Up 1.1%

business - growth 8Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month.

Existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, climbed 1.1 percent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April. Last month’s sales pace is 2.7 percent above a year ago and is the third highest over the past year.

House _Transparent.pngLawrence Yun, NAR chief economist, says sales activity expanded in May as more buyers overcame the increasingly challenging market conditions prevalent in many areas. “The job market in most of the country is healthy and the recent downward trend in mortgage rates continues to keep buyer interest at a robust level,” he said. “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”

Inventory is currently at a 3.8-month supply. Existing homes averaged 29 days on market in April, five fewer days than in March and 10 fewer days than one year prior. Non-distressed homes took 28 days to sell. All told, 52 percent of homes sold in April were on the market for less than one month.

Source: National Association of REALTORS®

It’s highly beneficial to have a professional, knowledgeable, local real estate agent by your side! Call Keller Williams Dallas Metro North today to help you with your real estate needs!

For Millennials, Homeownership Is a Waiting Game

shutterstock_282602042Millennials have their sights set on homeownership – but a new report makes a case that their dreams could be years from becoming reality.

According to a recent survey, though 80 percent of millennial renters aspire to become homeowners, 72 percent are held back by an inability to afford a home, with saving for a down payment the most challenging obstacle to overcome. Sixty-eight percent have less than $1,000 saved for a down payment; 44 percent, decidedly, have no down payment savings at all, and 40 percent have no savings plan in place to start.

Older millennials – those aged 25-34 and now in their prime home-buying years – are struggling to save for a down payment, as well: 42 percent have set aside nothing.

millennial-moneyThe down payment goose egg suggests millennials grossly miscalculate how much savings they need to afford a down payment, whether 20 percent – ideal to avoid monthly mortgage insurance and obtain better mortgage loan interest rates – or less. (In fact, when controlling for a 10 percent down payment, only 36 percent can save enough in three years.)

Another snag? Millennials who are saving up for a home have a long wait ahead of them. According to the survey, most will need to save for more than five years to accumulate enough for a 20 percent down payment, with those in the hottest housing markets – think ATX, the Bay Area and Silicon Valley – needing to wait roughly 20 years.

Injured Piggy Bank WIth Crutches“Our analysis shows that the lack of savings by millennials, combined with the extreme shortage in affordable entry-level homes, means that a large share of millennials may be stuck renting for years,” according to report authors Andrew Woo, director of Data Science and Growth, and Chris Salviati, senior growth associate, at ApartmentList.com.

All’s not doom and gloom, however. Millennials saving for a home in Kansas City, Mo., will need to squirrel away money for just five-and-a-half years, while those in Las Vegas, Nev., and Miami, Fla., will need about 6 years.

Millennial - indecisiveThere are other, less intimidating influencers keeping millennials from entering the housing market, too. Forty-five percent are “not ready to settle down” yet, and 36 percent are simply waiting to say “I do.”

“These results underscore the long-term crisis that homeownership in the United States may face, as millennials delay buying a home until later in life,” the authors state. “One of the outstanding questions for the housing market has been whether or not the nation’s largest generation – millennials – will purchase homes at rates similar to their parents or if they will continue to rent long into adulthood, or even indefinitely.”

For now, millennials are playing the waiting the game.