Adding Value by Dennis O'Hagan

Just The Facts...

1 Out of Every 10 New Homes in U.S. are in Dallas, Austin and Houston

In the market for a new home? You'll fare better if you're house-hunting in Texas.  Dallas, Houston, and Austin are on pace to build a total of nearly 130,000 new homes in 2017, based on a Trulia analysis of building permits. That's more than 10 percent of all new construction expected in the U.S. this year, and enough to put all three metropolitan areas in the top five for permitting activity. New York and Phoenix round out the group.  Dallas and Houston are on track to add nearly 50,000 new homes in each market, while Austin is poised to add 30,000. For Austin, that's more than double its yearly average from 1980 to 2016.

• Dallas Morning News, August 16, 2017

Just The Facts...

Agents Sell Homes For 5.5% More Than FSBOs

Agents tend to achieve higher sales prices for properties than comparable FSBO listings, enough to offset their commission fee, according to a recent analysis.  Academic research has often cast doubt on the value of real estate agents, but a new study will come as music to their ears.  It suggests that homeowners will net roughly the same proceeds whether they sell through a real estate agent or take the FSBO (for-sale-by-owner) route.  That’s because agents tend to achieve higher sales prices for properties than comparable FSBO listings — enough to offset their commission fee, according to an analysis released by automated valuation model (AVM) provider Collateral Analytics.  This makes a strong case for hiring an agent, considering that agents allow homeowners to reduce the work, risk, and time of selling a home, said Dr. Michael Sklarz, the CEO of Collateral Analytics and a co-author of the study.  “Overall it is clear that FSBOs have a low probability of selling, and if they do they will likely net the same or less after closing issues, plus they are more likely to screw up on disclosures which may lead to lawsuits after the fact, when buyers discover material facts not disclosed,” added Norman Miller, who produced the study with Sklarz and is a real estate professor at the University of San Diego.  The study looked at more than 200,000 FSBO sales and one million MLS sales that took place across hundreds of markets in 2016 and 2017.  They found that on average, FSBO listings sold for about 5.5 percent less than comparable properties sold through the MLS, with FSBO listings tending to sell for a little less than their automated valuations and MLS listings tending to sell for a little more. The valuations were generated by Collateral Analytics’ software.

• Inman News, August 16, 2017

OPEN HOUSE Today (Saturday - 08/12) - 789 Bordeaux Dr., Rockwall - 1:00PM to 3:00PM

PRICE REDUCTION & OPEN HOUSE this Saturday (08/12) from 1:00PM to 3:00PM... I hope you can come by for a visit and a personal tour. I would love to show you this beautiful home...

MLS#13638163 - $415K – 789 Bordeaux Dr., Rockwall, TX 75087

 

https://www.homesnappers.com/tours/u/789bordeauxdr

Home Maintenance Tip: Ground Fault Circuit Interrupters...

Ground Fault Circuit Interrupters or GFCIs are inexpensive electrical safety devices that are designed to reduce the risk of serious electrical shock and/or injury.  They are typically installed in outlets on exterior walls and in damp environments.  The GFCI will shut off power to the outlet if the electrical flow to the circuit changes slightly.  The shut off is instantaneous, thus preventing long powerful shocks of electricty to an operator. 

You should consider GFCIs for the following locations: 

- Any outdoor/exterior outlets

- Kitchen

- Bathrooms

- Garage

- Basement and Crawlspaces

Price Reduction & Open House This Saturday...

PRICE REDUCTION & OPEN HOUSE this Saturday (08/12) from 1:00PM to 3:00PM... I hope you can come by for a visit and a personal tour. I would love to show you this beautiful home...

 

MLS#13638163 - $415K – 789 Bordeaux Dr., Rockwall, TX 75087

 

https://www.homesnappers.com/tours/u/789bordeauxdr

Do You Know Where Your Hard Earned Money Goes???

Home Energy Awareness...

After the mortgage payment, the largest homeowner expense is for utilities and the major component is energy. Contributing factors include air leaks, insulation, heating and cooling equipment, water heaters and lighting.

Computers, monitors, TVs, cable and satellite boxes, DVRs and power adapters are spinning your electric meter even when they’re not being used. Even though they only represent a small percentage of a home’s total energy consumption, about 3/4 of the electricity is used when the products are turned off.

Unplugging devices can actually make a difference in the size of your electric bill. Plugging several of these offenders into a power strip with a single on/off switch may make the task easier. Most computers have options to put them into sleep mode or even turn when not in use.

The Department of Energy has an Energy Saver Guide and do-it-yourself suggestions.

 

HUMOR: How to install A SOUTHERN HOME SECURITY SYSTEM

HOW TO INSTALL A SOUTHERN HOME SECURITY SYSTEM

1. Go to Goodwill and buy a pair of size 14 -16 men's work boots.
2. Place them on your front porch, along with an old, well-read copy of Guns & Ammo Magazine.
3. Put four giant dog dishes next to the boots and magazines.
4. Leave a note on your door that reads... Bubba, Bertha, Duke, Slim, & I went for more ammo and beer. Be back in an hour. Don't mess with the pit bulls. They got the mailman this morning and messed him up bad. I don't think Killer took part, but it was hard to tell from all the blood. Anyway, I locked all four of 'em in the house. Better wait outside. Be right back. Cooter

WHAT TO LOOK FOR IN A HOME'S FOUNDATION...

One important piece of knowing the current condition of your home, for Buyers and Sellers alike, is the home’s foundation. The foundation of a home is often the make or break for a transaction, and being aware of the condition of the foundation will help prepare you for the sale/purchase of your home.

So how do you know if your home’s foundation is in good shape?

There are various warning signs of adverse performance of a foundation. The warning signs below will give you a good idea of what to look for when evaluating your home’s foundation and may even show you your foundation is in better shape than you originally thought!

Interior

Doors & Windows

Doors that bind, are out-of-square, or don’t latch properly
Windows that are difficult to operate or have cracked glass

Floors

Cracks in the slab
Uneven or sloping floors
Cracks in floor tiles

Walls & Ceilings

Sheetrock cracks of .2”-.6” or more oftentimes located around doors and windows
Gaps where the wall meets the ceiling
Displaced or cracked decorative moldings

Exterior

Doors & Windows

Separations between door jambs or brick moulding and the brick
Separations around window frames
Separation between garage frame and brick

Walls

Frieze board separations
Rotating, buckling, or deflecting masonry cladding
Cracks of .2”-.6” or more oftentimes
Offset cracking where the brick is uneven on either side of the crack
Chimney cracks

This is a fairly comprehensive list and having just one or two of these indicators may not be cause for concern. However, more than a couple of the indicators of adverse performance might suggest your home’s foundation may need some special attention. Knowing the current condition of a home’s foundation opens opportunities to negotiate the selling price, prepare for future maintenance, and stay on top of a potential purchase.

OPEN HOUSE today, Sunday, July 30th from 1:00PM to 3:00PM...

OPEN HOUSE today, Sunday, July 30th from 1:00PM to 3:00PM

 

MLS# 13641878 - 3969 Goodfellow Dr, Dallas. $525K...

 

GORGEOUS, well maintained, updated 4 bedroom, 3 full bath, 2 car rear entry garage, 1 story with fenced in backyard in the sought after quiet Midway Hills subdivision. Remodeled and updated master bath and closet, remodeled and updated secondary bath, Jack and Jill with granite countertops, remodeled and updated kitchen in March 2017. Carpet installed in 2016 with upgraded padding. Replaced all windows in July of 2014. Ceiling fans installed in all bedrooms in May of 2013. Storage closet in Garage. Close to shopping and major roads.

 

https://www.homesnappers.com/tours/u/3969goodfellowdr/

 

We hope you can stop by for a visit and a PERSONAL tour...

 

Real Estate HUMOR...