KELLER WILLIAMS DALLAS METRO NORTH

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!

5 DIY Improvements to Make Your Home Classier

It may seem that homebuyers and sellers don’t agree on much, but they share one important concern: that the transaction is successful. This comradery is never more evident than during the appraisal process. It’s only natural, since the results of the appraisal can send the deal spiraling out of control.

Updating your home to be more chic – without looking cheap – is completely doable on a budget.

If you’re looking to add more class to your home, taking on a DIY project can give your house that extra sense of style while saving you money. No need to cringe at those three little words: “do it yourself.” There really are fast, easy and affordable projects you can do on your own. Here are five relatively easy ways to enhance your home.

1. Replace Your Light Fixtures
Switching out an old or basic light fixture for a more elegant one is an easy way to shift the ambiance of a room. By adding a sophisticated light fixture, you can control the intensity of the light and character of your room. And you don’t need to pay a pretty penny for expensive new fixtures – you can buy used fixtures online.

2. Add Floating Shelves
Installing floating shelves in your home combines the functionality of extra storage space with a bit of style and personal flair. Floating shelves can be mounted on walls in many different patterns, and they come in various materials to give your rooms a unique touch. For a small room choose shallow shelves to display framed photos; for a larger room you can afford to use deeper shelves to hold vases, books and unique trinkets.

3. Paint an Accent Wall
Painting an accent wall can add a pop of color and showcase your personality. Usually a low-risk project, a homeowner of any skill level can tackle this project in a day. You just need some painter’s tape, a brush and the color that suits you! Just make sure the color you choose is complementary with the other colors in the room. Stay consistent between warm and cool tones.

4. Install Decorative Molding
Adding decorative molding around your home can add an extra touch of elegance. Install molding to the ceiling by capping walls, columns and cabinets, or add chair molding lower to the ground. With detailed molding you can add character to your rooms while also making them feel taller and more finished.

5. Build a Stone Fire Pit

Take your sophisticated style outside by building a stone fire pit in your backyard. Completed in only a few hours, take uniquely shaped rocks or large stones and put them together to create a functional and stylish fire pit. Before starting the project, be sure to check your local fire codes or homeowners association to ensure you are safe and allowed to start building.

Adding a touch of class to your home doesn’t have to break the bank! Just be sure to start with one project at a time, allowing yourself to complete one before starting the next. Otherwise, you’ll fall victim to chronic project incompleteness syndrome – not a good look!

Now that you know about these five inexpensive DIY projects, which will you try?

What Was The Good News For August?

Old_Courthouse_Denton_TX

Denton County property values continued their upward climb this year.  The Denton Central Appraisal District’s 2016 certified valuations were finalized on July 22, 2016. Countywide property values rose nearly 11%  over last year.  Unfortunately, property owners who disagree with the Denton CAD’s 2016 appraisal of their property value must have filed a written protest with the Appraisal Review Board (ARB) before May 1.  As expected, the 2016 Certified Valuations were less than the Preliminary Valuations, but higher than the 2015 Certified Valuations.


 California-based Charles Schwab Corp. will create at least 1,200 new jobs with its planned regional office campus in northeast Tarrant County.  The 500,000-square-foot office center in Westlake has been given a $6 million Texas Enterprise Fund grant to help pay for the project.  The San Francisco-based company rented office space in Westlake to temporarily house up to 500 Schwab employees in November 2015, so this is a commitment to the DFW area.  Construction on the new office center begins in 2017.


H-E-B continues to tease North Texans with the prospect of opening grocery stores in the region. The San Antonio-based grocery recently purchased six Sun Fresh Market stores, and remains coy about whether those locations will become home to H-E-Bs or the fancier Central Market brand. The state’s largest independent grocery chain has purchased four Dallas store locations in Uptown, Lake Highlands, Lakewood and Northwest Dallas, along with 2 more store locations in McKinney and Grapevine. H-E-B also owns 20 pieces of land in North Texas where new stores could be built.


Pinterest

Pinterest is changing the way it sells its ads.  Marketers will now be able to bid on inventory through an auction process. Previously, CPMs – or cost per thousand impressions – were only available on a fixed-priced basis. Meanwhile, the company also added that marketers can now add frequency capping, which will allow them to specify the maximum number of times a person can see their campaign.


Dallas has made the list of international cities with the greatest office rent increases, according to a report released on August 10, 2016 by commercial real estate firm JLL.  Big D was at the top of JLL’s list of top markets for quarter-over-quarter office rent growth.  Average quoted rents in the Dallas area were up 8% at midyear from the first quarter.  Office rents in North Texas now top $25 per square foot on average — a record high, according to JLL.  The only other North American markets with big rent gains on the list were Montreal (6.3%) and San Francisco (5.8%).  Rents in Houston, hard hit by the energy sector slowdown, were actually 1.1% lower this year, so as you study data, be aware that Texas numbers as a whole, may not be reflective of North Texas activities.

ford

Ford Motor Co. announced in August that it intends to have a fully driverless vehicle — no steering wheel, no pedals — on the road within five years. The car will initially be used for commercial ride-hailing or ride-sharing services, with sales to consumers coming later.  Ford’s approach to the autonomous car breaks from many other companies, like Mercedes-Benz and Tesla Motors, which plan to gradually add self-driving capability to traditional cars. In July, BMW announced a plan to put an autonomous vehicle with a steering wheel on the road by 2021.  Ford is taking the same approach as Alphabet Inc.’s Google, which supports moving directly to self-driving cars once the technology is perfected.

How to Prevent Tree Roots from Damaging Your Property

Tree

Trees are hardy plants, and their roots fight back against man-made limits around them. In urban and suburban landscapes, tree roots are often forced to grow between buildings or under driveways and walkways—and they can cause costly damage if left unchecked.

“Before you plant a new tree in your yard, you need to understand how a tree could damage your property, and take appropriate measures to prevent that damage,” says Tchukki Andersen, a board-certified Master Arborist and staff arborist with the Tree Care Industry Association (TCIA).

Woody tree roots thicken as they grow, gradually pushing shallow roots toward the surface. Since soil near the surface is best suited for root growth, most tree roots are just below the surface, placing them directly in conflict with man-made obstacles. Where the soil is covered by a solid driveway or patio, upward growing roots will grow against the underside of the pavement or pavers.

“Most damage is found six feet or less from the tree, since roots become smaller and less damaging the further they are from the trunk,” says Andersen. “Keep this in mind before you plant. That small sapling could become a large shade tree with roots spreading 30 or 40 feet outward from the trunk.”

Some homeowners, masons and landscapers manage intrusive roots by grinding down or removing them. This can be expensive, and is harmful to the tree. Wounding a tree’s roots creates points of entry for pathogens, leaving a tree vulnerable to disease. Cutting major roots also reduces a tree’s ability to absorb nutrients and water, leaving it more susceptible to drought. In addition, cutting roots can reduce a tree’s structural support, which increases the danger the tree will topple onto your house in high winds.

When cutting problem tree roots, remember:

• The farther you cut from the trunk, the less threat to the tree’s health, and the less danger of creating a hazard.

• Avoid cutting roots greater than 2 inches in diameter.

• Prune roots back to a side or sinker root (one that is growing downward) when possible.

• Roots recover from being severed when you cut them cleanly with a saw, instead of breaking them, and mulch and water well after pruning.

• Consult a qualified arborist when cutting within a distance equal to five times the trunk diameter to the trunk.

To avoid cutting tree roots altogether:

• Install physical root guides and barriers that redirect tree roots down and away from hardscapes with minimal impact on the tree.

• Curve new hardscape features, such as a driveway or patio, around the tree roots.

• Suspend hardscape features on small pilings to bridge over roots.

Ultimately, the best way to keep the trees and their roots on your property from causing damage is to select species that match site conditions, Andersen says, and to avoid planting large shade trees within 12 feet of hardscapes. In areas within five to seven feet of a paved area or structure, plant trees that grow to a mature height of less than 30 feet. In areas within seven to 10 feet of a paved area or structure, plant trees that grow to a mature height of less than 50 feet. Reserve trees that mature to higher than 50 feet for areas with at least 12 feet of clearance around the trunk; this allows adequate space for the roots.

A professional arborist can assess your landscape and work with you to determine the best trees to plant.