Want A Big, Beautiful Like-New Home With 2 Master Suites?

Well, you have found it here!  This home was just bu1302-wildflower-ln-wylie-tx-High-Res-1ilt in 2013 and it has 3,987 square feet filled with 5 gorgeous bedrooms, a kitchen with granite counter-tops and stainless steel appliances, living room down and gameroom up, and two large master suites – one downstairs and one upstairs.

1302-wildflower-ln-wylie-tx-High-Res-7This is the perfect floorplan for having family members living under one roof or having long-term guest. What else does this home offer? How about a 3-car garage and it backs up to a green1302-wildflower-ln-wylie-tx-High-Res-13belt area?!

There is so much to love in this home. PLUS, it is offered for $330,000, which is a great price for a beautiful home in sought-after Bozman Farms in Wylie. You cannot 1302-wildflower-ln-wylie-tx-High-Res-15buy a new home in this neighborhood for anywhere near this price!   And this home is currently ONLY available for private showings, and is it NOT yet in MLS, so hurry – get in touch with me or with
your realtor of choice and see it today!

To see more images of this beautiful homeclick on this link.

Lake-Front Home in Dallas County

My latest listing was featured on this blog – how great is that? Another example of how I market the homes I sell in many different ways, to get them as much exposure to the buying public as possible!

North Texas Lake-Front Homes

This week’s featured lake-front home in Dallas County is a beautiful old-world style home. This beauty has all of the right masculine features combined with feminine features in all of the right places.  This spacious SIX-bedroom home listed by Heather Sims of Ebby Halliday sprawls 6096 SF on over half an acre!  With a sparkling pool and lake views from nearly every window in the home, what’s not to love?!

View More of 4218 Running Brook Drive

RunningBrook.Exterior.2

Built in 1996, this home has a lot of character, updated with love and today’s accents and interior touches!   This charming lake-front in Pecan Harbor Estates will leave you as the envy of the neighborhood.  4218 Running Brook Drive in Rowlett also has another sought-after feature…a tandem-style four-car garage!

RunningBrook.Foyer

Gleaming hardwoods and strong accents capture your attention from the moment you walk in.

RunningBrook.Stairwell

RunningBrook.Bar

Great for entertaining, this mahogany-wood bar just off of…

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Which Celebrity Would You Want To Be Your Neighbor?

There are celebrity lists of all kinds, from People’s Sexiest Man Alive to Time Magazine’s Person of the Year, to Forbes World’s Billionaire List. But have you ever thought which famous people you’d be ok with having as a neighbor?  For me, the Ozzy Osborn family would be at the absolute bottom of that list, although I would not mind living in their house! Top of my list would probably me my favorite musician, Alanis Morrisette – she’s not the angry feminist that people make her out to be, and if I lived next to her I might get to hear her sing and pick her brain about life once in awhile.

Who would most Americans say they’d love to have live next door? Zillow.com decided to find out… in their survey, Zillow asked 1,000 Americans which celebrities they would most like to have as their neighbor as well as those they wouldn’t dare share a fence with.  Turns out, the Singer-songwriter Taylor Swift is America’s favorite neighbor. Swift was voted as the top neighbor with 12 percent of the votes.  She was in the top 3 last year when Zillow conducted the same survey, but she was able to nab the top spot after a third-place finish last year.  Actress Jennifer Lawrence was a very close second with 11 percent, and comedian Amy Schumer rounded out the top three, with 9 percent of the votes.

Meanwhile, Republican presidential candidate and real estate mogul Donald Trump topped this year’s list for worst neighbor at a whopping 24 percent (makes me wonder about that 7 percent who said he’d be the best neighbor!). Kim Kardashian and Kanye West are also not desirable as neighbors, with 22 percent responding that they would not want to live next door to the self-described power couple.

Here’s a look at how the celebrities stacked up on this year’s survey.

Most Desirable Neighbors of 2015:

  • Taylor Swift: 12%
  • Jennifer Lawrence: 11%
  • Amy Schumer: 9%
  • Donald Trump: 7%
  • Mark Zuckerberg & Priscilla Chan: 6%
  • Jennifer Anniston & Justin Theroux: 6%
  • Hillary Clinton: 5%
  • None of the Above: 34%

Worst Neighbors of 2015

  • Donald Trump: 24%
  • Kim Kardashian & Kanye West: 22%
  • Justin Bieber: 18%
  • Hillary Clinton: 11%
  • Miley Cyrus: 10%
  • Taylor Swift: 2%
  • Tom Brady: 2%
  • None of the above: 11%

Looking to have new neighbors in 2016? I can’t guarantee they’d be celebrities but I can guarantee great real estate services in finding your new neighbors and neighborhood, just give me a shout and we’ll start our search!

Source: DAILY REAL ESTATE NEWS | THURSDAY, DECEMBER 31, 2015

Pinterest Faves for Christmas 2015

Don’t we all just LOVE Christmas?  It is my absolute favorite time of year. I love the cold weather (kind of – we are in Texas after all), the shopping, the twinkling lights everywhere, the kiddos’ excitement, and everything else about the holidays. One of my favorite places to go for holiday inspiration is Pinterest…there are so many great ideas for crafts, presents, decorations, that little man Elf-on-the-Shelf, and most importantly food and drinks!  I thought I’d collect my top 10 picks (or “pins”) and share them with you in this quick video…enjoy and if you have a minute, look me up on Pinterest or let me know which was your favorite!

Price, Predictions, Prime Time!

The monthly mortgage payment on a home is generally determined by two elements: the price of the house and the interest rate you pay on your mortgage. There are other factors too, like taxes, insurance, and homeowners association dues, but to keep it simple, let’s just look at price and mortgage rate.

HOME PRICE PROJECTIONS.  Recently released reports are revealing that the experts expect both of those elements to increase in 2016. Nationwide, a 5.2% home value appreciation for the next twelve months has been projected. This image gives you a breakdown by state. Texas is expected to see a 2.4% increase, although I wouldn’t be surprised if that percentage is higher given what has occurred just in the past 6 to 8 months here in the Dallas-Fort Worth area.

Prices-KCM

Pricing Forecast | Keeping Current Matters

MORTGAGE INTEREST RATES.  All four of the entities that provide projections on mortgage interest rates agree: they’re going up in 2016.  And if you’ve spoken to me about the market anytime within the past year, you’ve probably heard me say the same thing…rates are going to go up.  They really have to, because the “frenzy” that we’ve experienced in this market really can’t continue.  The financial powers that be are going to be interested in stabilizing things a bit, and stabilization in this case means an interest rate increase.  Here are the predictions over the next four quarters:

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Interest Rates | Keeping Current Matters

BOTTOM LINE: With both home values and interest rates projected to increase over the next twelve months, buying (or moving-up), sooner rather than later, makes sense.  Conventional wisdom says that the holidays aren’t a good time to list…well I can tell you that last week was Thanksgiving, I had two clients who trusted what I told them about the holiday season being a good time to sell a home because there’s less competition out there, and one of those homes is under contract and the other has an offer.  If the time might be right for you, I’m looking forward to hearing from you soon!

What Is Your Home Value?

If you’re fortunate enough to live in North Texas you’ve no doubt seen plenty of media stories about our region’s rising home values. So, it’s only natural if you’ve been wondering, “What’s my home worth now?”  Well, the reality is there’s more than one answer. Your home actually has three potentially very different values…

Replacement Value

If your home is destroyed by a disaster, like a fire or tornado, replacement cost is what it would take to remove debris and rebuild. Most experts agree that homes should be insured for 100 percent of the minimum estimated replacement cost. If your home is not, you run the risk of coming up short if the cost to rebuild is more than your coverage will pay.

Property Tax Value

This is the number taxing authorities use to calculate your property tax bill. Typically, property tax values are meant to approximate a home’s market value, though sometimes there are large discrepancies between the two because of outdated assessments or mistakes by assessors.  If the property tax value of your home exceeds the market value, consider contesting the value with your taxing authority.  The market is so crazy these days that I have witnessed many taxing authorities in North Texas overvaluing homes, and I have helped many clients with information to contest their property tax value.  It’s very important to pay attention to that value!

Market ValueHidden-Equity-KCM

This is the measure most of us think of when trying to estimate our home’s value. Determined in part by the price people have paid or are willing to pay for similar houses in your neighborhood, market value is not based on what you paid for the home or how much it cost to remodel that beautiful new kitchen or master bath.

Determining market value is a job for a properly educated real estate professional, like yours truly, of course. If you’re considering offering your home for sale, let me know.  I’m happy to run some numbers for you to see if the value you have in mind is consistent with what the market says your house is worth.  And really, now is the time – I ran some numbers for a client in September but she wanted to wait until she found a home she wanted to purchase before she listed her house, so a month and a half later, I ran numbers again when she was ready to list…her value had gone up about $12,000 due to 3 good sold houses (i.e., comps or comparable properties) that had closed in between. I couldn’t quite believe it myself!  Bottom line, if you’re considering selling, please get in touch, I’d love to help!

5 Ways to Makeover Your Master

Master bedrooms should be relaxing places of refuge, right?  A place where we go to decompress, maybe read a good book or have a good conversation with our spouse.  But let’s face it, most of us use it as a place to pile laundry and/or crash at the end of a long day of work and taking care of kiddos.  So really, what are some simple things that we can do to make the master bedroom a more inviting space that we want to be in and enjoy?  Here are 5 that will help, even though laundry will probably still pile up and grown-ups will probably still be exhausted much of the time!

5 Ways to Update Your Master

  1. Bedding. Add some colorful pillows or a new comforter/duvet.
  2. Headboard. Change your headboard out, especially if all the furniture matches!  This is a great way to add some uniqueness and a personal touch to your bedroom.
  3. Area Rug. Add a rug to tie the whole room together and provide a real cohesiveness to the overall look of the bedroom.
  4. Paint. Change the paint color; this is the easiest way to made a big change to a room without a big hit to the budget!
  5. Lighting. Buy new lamps, or go “shopping” in other rooms of your home to move the lamps from one room to the master bedroom.  The lighting itself will change the room, and the looks of the lamps will make a change as well.

And if you can’t change up your master bedroom enough to satisfy you, and only a different master bedroom in a different house will do, get in touch with me – I can help with that!

Home Buying: Questions To Ask An Agent

What do most people do when they’re thinking of buying a home?  Look at homes for sale on the internet. Then what do they do? Contact an agent to go see a home, or maybe two.  Potential buyers find agents in many different ways, but the best way is to ask friends and family about realtors that they’ve used and had a good experience with. The worst way is to just pick an agent at random over the internet, meet them one time, and allow that agent to represent them WITHOUT doing any research or asking any questions.

A home is the biggest asset most people will ever buy, and I take that very seriously. I expect to be asked questions, and in fact I like to be challenged because it shows me that the potential buyer is taking the home-buying process seriously as well.  I have been the seller’s (i.e., listing) agent so many times when I actually feel badly for the buyer due to the quality of representation that they’re getting.

Houses-Sold-Yesterday-KCM

Getting Into a Home Requires a Professional Buyer Agent!

For example, in Texas during the home buying process, once you put an offer on a house and get it under contract, the buyer has to submit two money payments immediately – one for approximately $100 (option money) and another for 1% of the contract price of the home (earnest money).  That earnest money is often a large sum of money and buyers don’t want to lose that money if they need to back out of the contract. A good realtor will be watchful and mindful of the critical timeframes in the home buying process that could cause that money to be returned or forfeited – this is critical and is an important part of the job of a realtor! But many realtors are not as aware of the contractual timeframes, and sadly, buyers sometimes have to lose that money when that could have been avoided simply by a buyer agent paying more attention to the transaction. In fact, this scenario was noted as One of the 5 Foolish Mistakes a Home Buyer Can Make by USA Today. I just had this happen, and I am on the listing side…the buyer terminated after their time period ended for receiving their earnest money back, and now contractually they owe the seller $2,500, and they can’t buy the house!

So, these are some vital questions a buyer agent should be asked:

  1. How many buyers have you helped buy homes this year and/or last year? In my opinion, that answer should be at least 10, which is a number that represents enough business that the realtor knows what they’re doing and does it on a regular basis. Also, don’t hesitate to ask for references, especially if this is a realtor who wasn’t a referral.
  2. What is the basic home-buying process? A realtor should be able to answer this quickly and effectively. I even provide a flowchart document for my buyers that goes through the process in a simple and graphic way –  here’s a link to my Home Buying Flow Chart.
  3. What do other houses like this one sell for in this area?  Many realtors won’t be able to answer this one on the spot, but they will offer to find out for you. Most often, I’ll say to a buyer that I think a home is priced well, or priced high, or give a general response, and then I’ll go do specific research to answer that question. The point of this is though, that a buyer needs a realtor to understand why they’re asking and to be willing and able to provide the answer.
  4. What are some ways I can make my offer stand-out to a seller? An agent that helps a lot of buyers and is familiar with helping buyers in this sellers market (i.e., multiple offer market) will have some good ideas for a buyer that will help their offer stand out.
  5. What should I expect to spend before closing? And is any of that money refundable? No buyer wants to put an offer or a contract on a house thinking they’re either going to lose money or back out of buying it. But, things happen and it’s an agent’s fiduciary responsibility to protect the buyer’s money to the furthest extent possible. This is a question that a good buyer agent can answer immediately. If the realtor can’t answer this question, find another realtor!

Bottom line, buyers need an agent they can trust, but should take great care not to put that trust in the wrong realtor. They shouldn’t be afraid to ask questions and demand answers of a realtor – a good one will not hesitate to answer them and will be up to the challenge!  Questions, comments, want to ask me these questions?  I’m ready, just get in touch!

To Buy Or Not To Buy, That Is The Question

If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and/or what is currently happening in real estate.  So, is now is actually a good time for you to buy a home?  To answer that one question, there are 3 more you need to answer first!

1. Why am I buying a home?3-Questions-KCM

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances.

A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home actually have nothing to do with money.  The study found what people “really, really want” is:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What non-financial benefits will you and your family derive from owning a home? There are generally A LOT, and they will be the biggest reason you decide to purchase or not.

2. Where are home values headed?

This is and has been one of my biggest concerns for my buyer clients in this sellers’ market!  When looking at future housing values, Home Price Expectation Survey provides a pretty fair assessment. Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

Here is what the experts projected in the latest survey:

  • Home values will appreciate by 4.1% in 2015.
  • The cumulative appreciation will be 18.1% by 2019.
  • Even the most bearish (love that word, don’t you?) experts in the survey still are projecting a cumulative appreciation of over 10.5% by 2019.

So what does that really mean for you and your family?

The chart below was made using the Home Price Expectation Survey’s predictions:

Homeowner's Family Wealth Over the Next 4 Years | Keeping Current Matters

If the experts are right and you were to purchase a home by January 2016 for $250,000, that home would appreciate by over $34,000 over the next four years! This means that homeownership is and continues to be one of the best ways to build your family’s wealth.

3. Where are mortgage interest rates headed?

A buyer must be always be concerned about more than just house prices…the ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates.  In a word, mortgage rates are headed UP; I predicted that at the beginning of 2014.  BUT this doesn’t mean it’s not a good time to buy a home, because current rates are still at historic lows.

The Mortgage Bankers Association (MBA), the National Association of Realtors and Freddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months as you can see in the chart below:

Mortgage Rate Projections | Keeping Current Matters

Bottom Line

Answering these questions will help you answer that ultimate question, “is now the right time to purchase a home?” For great advice (if I do say so myself) and/or if you just want to ask some general market questions, please don’t hesitate to get in touch!

Price to Sell, NOT to Negotiate

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges we real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, I believe that it’s always best to tell the homeowner the truth…this is more important than getting the seller to “like me”, because I’m there to try to help them sell a house! Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.”  But this is important to remember: there is no “later”.

Research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes. John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered the their price. In his article, Listing Price, Time on Market and Ultimate Selling Price published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price. Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house. Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it! One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.Price & Visibility | Keeping Current Matters

The best strategy is to price your house properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house. Look at it this way: if you only receive one offer, you are not in as much of a “power position” with the one prospective buyer as you are when you have multiple offers. When you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right…Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Look for an agent that will take the time to simply and effectively explain what is happening in the housing market and how it applies to your home. You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible position.  Questions? Comments?  Get in touch with me…I’m here to help with any of your real estate needs!

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