When purchasing a home in the Southlake Texas real estate market, there are many things that a homebuyer will consider before making their decision on which home is right for them. Finding a home in the right location is probably the most important variable that a buyer considers when making their choice. Many Southlake Texas homebuyers choose locations that are convenient to schools, work, and shopping. These buyers sometimes have to forego some other amenities that they would be able to find at a less desirable location in order to find a home in a particular area. Southlake real estate, Grapevine real estate, and Colleyville real estate are centrally located in the Dallas Fort Worth area and are often found more desirable to homebuyers. Excellent shopping and award winning school districts also bring many homebuyers to these areas.

Not only is a good location important to a homebuyer, but when it comes time to resell your home, the potential resale value of your property has a greater probability of increasing in value. The average homebuyer lives in their home for approximately five years. With this in mind, buying a home in just the right location can make selling your home in the future easier and may prove to be a better investment in the long run. In most areas, property values generally have a tendency to increase. Although finding the right location to buy your next home is important, be sure to consult with a Realtor for information the market in the area of interest. A Realtor has access to sales information over the past five years and will be able to inform you of the pricing trends that have occurred in the neighborhood. This information will help you to determine if this is the right area for you and your future needs.

If you are a homebuyer with school age children, finding an excellent school district is usually of great importance to you. For information on Texas public schools and their accountability ratings, you may visit the website www.tea.state.tx.us/perfreport/account/ . Buying a home in a school district that has exemplary ratings may bring a larger price tag not only on the sales price, but also on the property and school taxes. A buyer must keep these things in mind when it comes time to purchase a home. Although property taxes maybe higher than some other areas, the educational advantages may outweigh the cost of sending your children to private school and living in another area.

If you are a homebuyer without school age children or with no intention of having children, you may want to consider buying in an area that has lower school taxes versus an area with higher school and property taxes. Although this may make resale of your home less desirable to someone interested in better schools, it may save you money in the long run and still may appeal to those homebuyers that have children that will attend private school.

Homes near industry or other large business districts may be more appealing to many homebuyers. With the rising cost of gasoline and the time involved in one’s daily commute to and from work, living close to your work may be the most important factor in finding the right home. In the Dallas real estate market and Fort Worth real estate market, more housing is available in downtown areas than in recent years. The desire to live downtown, near work and entertainment districts, is very appealing to many executives relocating to the DFW metroplex. Many suburban areas close to downtown areas are now being updated and restored to attract more homebuyers back into the city. Call Betty Warden for more information on Southlake TX real estate.

It seems that there is an endless supply of homes in the North Texas real estate market. Southlake real estate, Colleyville real estate, and Grapevine real estate offer many amenities that people from across the country find appealing and affordable. While the cost of living in many states across the states remains quite costly, North Texas real estate still remains affordable for buyers of all income levels.

With such a large selection of homes available to buyers, it is often difficult to decide which home would be best suited for you. Many buyers prefer new homes over preexisting homes because they can have a more active role in the designing and building process of the home. Others may prefer preexisting homes that may have established landscaping and are available in a shorter amount of time. Both types of homes have positive and negative aspects. Those in the market for a new home should consult with a licensed Realtor for information on the pros and cons of buying new versus preexisting homes and for more information on buying a home.

Negotiating for the right price

With the growing number of homes on the market today, Tarrant County real estate buyers find themselves amidst many comparable homes with a wide range of prices. Negotiating the best price for the home for you can be a simple process or may require several offers and counter offers in order to reach an agreement.

Many times you will find homes on the North Texas real estate MLS that are priced higher than what one may want to spend, but sometimes these homes are priced with room for negotiation. As a buyer, one should never shy away from a home that fits their needs simply because it is priced higher than you may want to pay. Buyers should always be open to make an offer, even if it may be less than the seller is asking. Often times there is room for negotiating in the list price, or there may be other concessions that the seller is willing to give in order to make both sides satisfied.

The best way to ensure that you are getting the best price is to consult a Realtor and have them determine the value of homes in the area of interest. Most Realtors have access to information on recent sales and current listings. With this information in hand, a buyer is better equipped to make a lower offer on a home priced above market value. When the buyer is able to provide an explanation for their offer, the seller may consider accepting a lower price in order to sell their home. Call us for help, we will absolutely enjoy finding a home just for you. Betty Warden, 817-521-4859

First time buyers do not have many reasons to sit on the fence now. Excellent incentives await as President Obama’s stimulus package creates a multitude of options designed to save you a lot of money on your new home purchase. Looking to find that dream home in Keller, TX or maybe Grapevine, TX? The possibilities are practically endless. Perhaps an upgrade home in Southlake, TX or Colleyville, TX is in the plans for a young family wanting the best of schools.
What gives?
Right now and until December 1, 2009, qualifying homebuyers get a tax credit up to 8,000 dollars. The program works on a ‘slide scale’ process. Single prospects with income under $75,000 and married prospects with combined income under $150,000 qualify for the full $8,000 tax credit. Reduced tax credits are available for those with higher incomes. Best of all this tax credit requires no repayment providing that the new homeowners reside at the property for a period of 3 years or more. To qualify for these special tax credits the prospective homebuyer or homebuyers must not have had owned a primary residence within the last 3 years before the purchase of a new home. And of course if you have never had a primary residence then this program applies to you also.
Where to?
As I mentioned at the top of this article, there are a multitude of options available. I have received several emails from the lenders I work with. These guys are extremely excited with the new incentives being offered to the home buying public. What are they excited about? How about a USDA loan with zero down financing (yes, its still available) and a 8,000 dollar tax credit or an FHA loan up to 271,000 with credit scores in the 500’s. Interest rates inevitably will be lower for those with better credit scores, but rates are historically lower than ever. How about a 4.75 interest rate on 30 year fixed rate mortgage? Two lenders I would call FHA experts are Shelly Allred with Wells Fargo in Fort Worth, TX (P817-846-5913) and Tom Sutton of Countrywide in Southlake, TX (P817-247-6799). Give them a call to see what they can do for you. I have worked with them, I like them and I know you will too.
Dave Warden, 817-706-3291

Along with some resort areas in the nation, residents of homes in Southlake, Keller, Grapevine, Texas and in Tarrant County and Denton County real estate continue to enjoy a diverse and thriving economy.  Thankfully, there is an underlying stability of home prices and the real-estate market in this region, reflecting a great quality-of-life that has been noticed with honors like “Best Place to Live” and “Best Cost of Living.” 

However, stocks are a different ball game.  So many variables are driving stock prices that it is worth pondering some of them to keep our perspective.  Here are some basic facts to sharpen our saws.

• Home-building stocks are leading the pack in 2008 with a gain of 24.6 percent in Standard & Poor’s home-building index, making it the top-performing industry.  Next, by the way, are casinos and gambling, oil exploration, merchandise, and household appliances.

• At the same time, the government reported sales of new single-family homes have fallen to a 13-year low.

• One prominent home builder, Toll Brothers, reported a quarterly loss of $96 million but their shares rose 71 cents each. 

• The iShares Dow Jones U.S. Home Construction exchange-traded fund rose 1.4 percent.

On the side of caution and slightly pessimistic, USA Today comments that crazy figures—like the fast run-up of home-building stocks from 2000 to 2005—parallel the rise in dot-com stocks from 1995 to 2000.  As with any stock that loses value, the lower prices of the stock may actually encourage the optimist to buy more, driving up the price.  For example, one building-company executive bought 300,000 shares of his company stock at $5 each.  Others followed suite and that company’s once-$5 stock costs $10 today.

Homes are not going out of style.  Everyone needs a home and, in one sense, homes are necessities.  Regardless of the fluctuating stock market, common sense says that the growing population in the United States, and especially in the great State of Texas, will eventually fill up what appears to be a glut of houses on the market and then some.  The question is how fast will that happen and how fast will builders need to raise more roofs?  Probably not in an instant during 2008 but we are hopeful that our territory will continue to appreciate far ahead of the crowd.  

We’re putting our cash directly into the real estate itself.

The Metroplex offers a wide variety of resources to assist the Southlake, Keller, Grapevine, Trophy Club, or Colleyville homeowner to make the right decisions about upgrading his/her North Texas real estate.  To find a remodeling professional in your zip code, start on the NARI website.  The Fort Worth chapter lists both general members and certified remodelers in various fields.  The Texas Residential Construction Commission (TRCC) oversees residential construction and remodeling.  These organizations and the Better Business Bureau should help you to hire bonded professionals who take pride in doing quality work.  Be sure that your contractor carries sufficient insurance coverage.

Looking at the options to remodel the kitchen, bathroom, outdoors, or to turn a carport into a family room, these professionals can give you a realistic look at what you are in for.  First of all, after doing some homework by attending home shows, looking at pictures, and viewing other similar properties, you will need to decide what part of the house you are going to conquer. 

The contractors will help you to determine budget.  It costs about $40,000-$80,000 to redo the kitchen, $15,000-$40,000 for the bathroom, $70,000-$100,000 for an addition, $100,000-$150,000 for a master suite addition, and $5,000-$25,000 for a deck.  Maybe the first priority is actually to put up siding or better windows, but here are some pointers for the other areas.

The important thing is to wait until you have a good plan, not just for the placement of walls but for the choosing of all materials, before spending a dime.

Kitchen remodeling:  A small kitchen with outdated color schemes and older appliances is usually an automatic turnoff for a prospective buyer.  Consider installing new cabinetry, countertops, appliances and possible removing part of a wall to open up the area.  People are installing granite countertops, high-end stainless steel appliances, and other upgrades for themselves and for a quick good impression.  Many are choosing to put in kitchen islands and built-ins.

Bathroom remodeling:  New tile, flooring, and plumbing fixtures add a quick fix to the bathroom.  However, other popular upgrades include new shower stalls and luxury amenities like fancy showerheads, benches, and heated floors.  Some people are turning their bathrooms into mini spa rooms and spending more time relaxing in them.

Room additions:  Additions can get a bit more complicated.  Many people think that they can just enclose a paved area and that is not the case.  Living areas need to be girded underneath.  That means removing the old pavement before starting the project.  If you already have space in your home, consider removing all extraneous possessions and redecorating the existing spaces to fit your growing family.  Multifaceted wall units can turn an area into a multipurpose room without the expense of a remodel.

Outside:  Outdoor living areas and outdoor kitchens are all the rage.  If you go beyond professional landscaping, new decking and siding, add rock fireplaces, heated sitting areas, and a full kitchen.

As a rule of thumb, double or triple you estimated costs and you’ll be right on the money.  It is actually less expensive per square foot to buy a home than to come out ahead with some remodeling projects.   

If you are planning to buy an existing home, there are some things you should look at to estimate your potential energy costs.  It is always good to ask the current homeowner if they have records of their previous utility bills.  If they have a larger family, chances are their bills will be higher than those of a smaller family.  You should inquire about the age of the heating and air conditioning units and any service or regular maintenance that has been performed on these units.  You should also ask about the age of the water heater.  Newer models are usually smaller and are more efficient.

Not only are older heating and cooling systems a drain on energy and potentially harmful to the environment, having landscaping that is not native to the area you live can be costly to maintain, especially during the hot summer months when there are frequent water shortages and restrictions.  Planting shrubs and other landscaping that is native to your area is easier to maintain and uses less natural resources. 

Many new home builders are installing energy efficient windows and appliances.  If you are buying an older home, many times the home seller has replaced their older windows with new double paned glass.   Finding an existing home with new windows is a valuable find, since paying to replace older windows can be quite costly.  If the home does have older windows, check the seal around the window to see if there are air leaks.  Simply sealing these leaks around windows and doors can help you save energy.  Many people today are applying a radiant barrier inside their attic to help hold heat in during winter months and air conditioning in during summer months.  This is just a special type of paint that is applied to the ceiling of the attic. 

Any efforts that a homeowner makes to make his home more environmentally friendly, although costly at first, have the potential to save money over time and are helpful in protecting our environment. 

 

Although 38,000 residents now live in Hurst TX homes, 53,000 in Euless TX homes, and 49,000 in Bedford TX homes, the interdependent towns have found strength in their union.  Many of them work together at Bell Helicopter’s $3 million plant, at DFW International Airport, American Airlines and other carriers at DFW and Alliance airports.

In 1959 when their school systems merged into the Hurst/Euless/Bedford Independent School District, the communities enjoyed raising their families together.  Hurst borders on Birdville and some students attend school there.  Euless borders Grapevine/Colleyville real estate and some students may attend school there.  However, the majority attend the HEB schools or one of many private schools in the area.  With 1,200 outstanding teachers serving its 20,000 students, the HEB Independent School District ranks in the top 10 percent of school systems nationwide.  It boasts students who score at the highest, exemplary level in state testing.  More than 80 percent of graduating seniors pursue further education.  Most residents have attended some college and a high percentage hold associate, bachelor or graduate degrees—a well-educated population in the middle to upper-middle class.

Of course, in the heart of the Dallas/Fort Worth Metroplex, residents expect to find a wide variety of entertainment venues including the musical entertainment featured by the Northeast Tarrant Arts Council.  Acapella choirs and piano competitions may give the traditional state game of football a run for attention!

With convenient access to major freeways and less than 20 minutes from Fort Worth and a tad more than 20 minutes from Dallas, residents get around.  The new, state-of-the-art Trinity Railway Express is a big hit offering hassle-free transportation through the metropolitan area.

Regardless of why we are now hearing loud cries on the subject, buyers of North Texas real estate—beware.  There are plenty of other options throughout Southlake real estate, Colleyville real estate, Grapevine real estate, and all through Denton and Tarrant County real estate markets for us to find a suitable property in North Texas with payments that you can afford for the long run.

During the past few years, eager buyers have apparently signed on for seemingly innocuous loans called option Adjustable-Rate Mortgages.  Option ARMs were originally created to accommodate salespeople with fluctuating incomes.   They are a good option for a very limited segment of people. 

It seems that during the last three years of the housing boom, however, option ARMs were sold to a broader range of buyers.  A month or several months after the agreement, reality hit hard and many of these buyers are now losing their homes.

As a buyer, it is imperative that you understand the buying process, especially if you are a first-time buyer.  If you are pondering an option ARM, you have four choices for monthly payment amounts.

If you pay the highest amount every month, your loan will be paid off in 15 years.  Pay the second-highest amount and it will take 30 years to pay off the loan.

Then the third-highest amount will allow you at any time during the loan to choose to pay only the interest accruing that month.  That month you will not pay any of the principal.

The lowest amount is a minimum payment amount.  That lowest payment is what impresses many people with its low 1 or 2 percent a year rate.  But it can be a trap for many who are struggling financially.  After the first month, this minimum payment will not be paying either the monthly interest or any of the principal, resulting in a loan that grows.

Depending upon how the hundreds of documents are written and how your mortgage loan officer explains the deal, the buyer can even be deceived into thinking that things are much better than they actually are.  When payments becoming impossible and you consider refinancing, the fine print may reveal a prepayment penalty, which can be tens of thousands of dollars.  Over time, your loan amount could very well surpass the value of the home and put you in hot water.

Living in busy neighborhoods, we tend to need a bit of privacy. And most of us don’t know very much about choosing and installing fences. That’s where the training and experience of professionals trumps the layman’s knowledge. Contracting a professionally designed and installed backyard haven, however, will still take some forethought on your part.

Professional installers will know which hardware to use for each individual building material to help your fence live a long life, but you will probably want some say so in the fencing material. Do you want to use wood such as cedar, cypress, treated pine, teak, redwood, or does a maintenance-free composite or IPE sound more practical. Other options are wrought iron, chain link, and security fencing. Ask your designer about the pros and cons of each material.

The newer wood-composite fencing products and systems from FiberTech Polymers, Inc. are available from Lowe’s Home Improvement. The material is made from 100 percent recycled plastic and wood fiber rerouted from landfills. The product is durable but looks and feels like wood. In fact, its rough-sawn texture and deep embossing give it the look of a Cedar or Redwood fence. But it won’t rot, split or attract insects, or fade. It never needs painting and costs no more than vinyl fencing-very clever technology.

Installation is another ball of wax. It looks so easy. Just poke some holes in the ground and plop the post inside and attach the fencing. Right? Not quite. Before installation, you must contact the Texas One Call Notification Center to determine the location of utility lines on your property. The utility company will come out and locate their lines to the meters and any lines that cross the property in easements. Then you must locate the sprinkler system lines, if you have an irrigation plan.

If you are an experienced builder and prefer to install your own fence and save some money, please work with an advisor to ensure that the project comes out as perfect as can be. There are definite reasons for various details of installation. Installers may run a treated pine board along the bottom of the fence to seal off dirt and critters from your yard and to prevent termites from eating your fence. Or they may use aluminum, stainless steel or polymer-coated fasteners because galvanized nails and fasteners combine with the high-zinc content of cedar and cause corrosion streaks then decay. Or they may dig three instead of two feet deep to sink posts into sandy soil.

Of course, you can also choose a living fence. In Arizona, the prickly pink ocotillo lined up in a row can keep out most living creatures. In Texas, a nice hedge of fig trees or a more traditional green scrub may offer a softer wall of privacy for your property after it has matured.