NORTH TEXAS HOME SALES START YEAR STRONG

The Dallas Morning News reports that area home sales started the year at a blistering pace.  Metroplex real estate agents sold 4,733 existing single-family homes last month, the largest January total since 2007 and the second-best selling January in a decade.  Along with the rapid rate of sales comes a dwindling inventory of listings that worries Real Estate Center Research Economist Dr. James Gaines.


With only a 3.4-month supply of existing homes on the market, “that inventory is getting to a critical level,” Gaines said. “That’s so low, it is going to put a strain on the market . . . that means the prices will start being bid up.”  The median price for single-family homes sold in January rose 9% compared with the same month last year. Sales prices for condominiums also jumped, 14%.

The Best Planned Communities are in Texas

...well Houston, but still, TEXAS!

According to the Robert Charles Lesser Company, nearly half of the country’s best-selling master-planned communities are here in the Lone Star State, and mostly in the Houston area.  According to the latest data from RCLCO, eight of the top 20 master-planned communities are around Houston. San Antonio is home to a ninth top community.

The Woodlands is Texas’ top planned community at number three, followed by Cinco Ranch (4), Riverstone (7) and San Antonio's Alamo Ranch (8). Rounding out the top 20 are Bridgeland (15), Sienna Plantation (16), Shadow Creek Ranch (17), Woodforest (19) and Telfair (20).

Nationally, the best-selling master-planned community is The Villages in Ocala, Florida.

I ...didn't see my HOA, Windy Hill Farms on the list.  Hmmm....

Two ways to help Texas veterans become homeowners

Texas has several programs in place to help its veterans become homeowners … many of which can be used in addition to benefits from the U.S. Department of Veterans Affairs.  I refer my clients to these resources from the Texas Association of REALTORS® and help them find out which programs they qualify for: TXHomePrograms.org Buyers can search more than 100 housing-related programs in one place, including home improvement loans, housing assistance, and land loans through the Texas Veterans Land Board. TexasRealEstate.com Read a thorough explanation of several home-ownership opportunities for Texas veterans, their eligibility requirements, and how they work in conjunction with federal programs. Read more relevant news and information at the TAR member blog. Click "Follow this blog via email" in the right-hand column to receive notice when a new post or comment is added.

Murphy Residents & Bulky Trash on October 18

Appliances that use Freon must have proof of its removal

MURPHY, Texas Residents with trash that is too large or bulky for the weekly collection have another opportunity to dispose of this material on Oct. 18 simply by putting it out on the curb, according to Customer Services Manager Candy McQuiston.

“Murphy’s contract with Waste Management includes two bulky trash pickups a year, and the next one is set for Thursday, October 18. Murphy folk need not call to schedule a pickup, but must have their items curbside by 7 a.m. on that day,” she said.

In addition to the early pickup time, the following points are important to remember:

·         All mowers and other motorized yard tools must have all gasoline and oil removed.

·         Any metal placed by the curb should be in pieces no longer than 6 feet.

·         Paint cans with wet paint are not accepted. However, cans with dry, solid paint are acceptable.

·         Appliances, including refrigerators, are accepted. However, appliances with Freon must have it removed by a licensed technician, and the receipt must be taped on the item, otherwise it will not be picked up.

·         Any item with a door must have it removed or securely locked to prevent children or animals from entering it.

·         Brush must be cut into 3- to-4-foot long pieces and no larger than 6 inches in diameter, bundled and tied. The pile should be 4 feet long or less, and 3 feet high or less. Brush should be separated from other trash since it goes to a separate facility.

Items such as concrete, dirt and soil, construction materials, hazardous waste, wet paint, tires and car batteries will not be picked up. Roofing and construction contractors are generally obligated to remove the waste generated by their work, including wooden fence contractors.

“Murphy residents (75094) should consider placing their bulky trash items on the curb on the night before the pickup. That way, there is no danger of missing the trucks, as the trucks will only make one pass through Murphy neighborhoods,” added McQuiston.

TWO PLANO SHOPPING CENTERS SOLD

Real Estate business Online(REBusinessOnline.com) 

reports that two area shopping centers have been sold in separate transactions.

Texas investor Bo Avery acquired the 123,011-sf Ruisseau Village shopping center at 3303 N. Central Expy. Retail Realty represented the buyer. C-III Realty represented the seller, Wells Fargo Bank.

Nearby, Metropolitan Capital Advisors picked up the 192,267-sf Pitman Corners Shopping Center at the corner of W. 15th St. and Custer Rd. The center is anchored by an Albertsons grocery store.

NORTH TEXAS HOME SALES CONTINUE CLIMB, INVENTORY SHRINKS

NT HOME SALES CONTINUE CLIMB, INVENTORY SHRINKS

DALLAS (Dallas Morning News) – Existing home sales in North Texas are up for the eighth straight month.

According to statistics from the Real Estate Center and the North Texas Real Estate Information Systems, North Texas had an 18 percent increase in pre-owned home sales for the month of August.

The 7,986 single-family home sales represent the largest number of single-month sales since before the recession.

Median sales prices also rose in August, up 8 percent over the same month last year.

Further, the 4.5-month supply of available homes in the area is the shortest inventory in over a decade.

Best Small Towns in America (Murphy, TX got skipped!)

This is neat...
 The fine folks at Smithsonian.com have picked the best small towns in America.  Murphy didn't make the list?  Oh well.  JTOden Realty sends congrats to the fine Texans in Marfa, who made the list.

Good grief, Key West, FL?  Laguna Beach, CA?  Not really fair competition.
http://www.smithsonianmag.com/travel/The-20-Best-Small-Towns-in-America.html

NUMBER OF UNDERWATER DALLAS HOMEOWNERS is UP

The Dallas Morning News) reports that By the end of 2011, about 93,000 Dallas-area homeowners were upside down on their mortgages.  They cite CoreLogic DATA for this statistic. This is up one-tenth of a percent from fourth quarter 2010, when the negative equity rate was 12.2%.

However, despite the increase, the negative equity share is better than in 2009, when nearly 30% of Dallas-area homes were not worth the remaining mortgage balance.  Compared to the rest of the country, Dallas is faring better. Nationally, over 22% of homes with a mortgage were in negative (-) equity by the end of 2011, or about 10.7 million properties.

Statewide, Texas has the tenth lowest negative equity rate, with 10.2% of homes valued less than their mortgages. At 61%, Nevada had the highest negative equity rate, followed by Arizona (48%) and Florida (44%).

Blast Off 2012 - what to expect in North Texas and Collin County in 2012

Today I am attending a CE program that will forecast economic, political, and legislative issues that will effect Collin County and the North Texas area this year.  I'll be active blogging throughout the event.  I'm sure the list of subscribers will likely overload a server somewhere in India...

8:30 -- Continental Breakfast
9:00 --Oh! Blueberry muffins and coffee, not bad.
9:12 --the MC is funny... Why do event persons think I want to see their computer desktop?

Mark Dotzour, Cheif economist TAMU Real Estate Center, with the economic outlook for 2012.

Home sales should be up 10% in 2012. However, that's improvement from a low position. The government snuck a sales tax (transaction fee) past us. All new houses now have a sales tax at the time of the transaction. Thanks congress. Stupidity. Congress did it to fund two months of payroll tax deductions! Fannie Mae and Freddie Mac has been the slush fund, the read headed step child, the slave, the scapegoat--the corner prostitute for republicans and democrats. If Fannie Mae and Freddie Mac finally die, intrest rates will rise.

Texas is going to double the national job growth whatever that is. But if double a lousy number (due to a crappy congress) may not be impressive. Release sing he US economy depends on four things. Corporate Profits are high but they are sitting on e cash. Our government is devaluing our dollar. Every economic indicator is positive for Texas the LID that's keeping us down is the Fed. The Dodd Frank mortgage laws will fine a lender for a failed mortgage. So lender underwriters are hammering buyers to approve them. THIS IS THE RESULT OF GOVERNMENT REGULATION AND MISMANAGEMENT--BAD POLICY!!!

Folks, there is no free lunch. The low intrest rates we get are artificially low because it helps get them votes. However, your savings account is worthless because theo interest rates are so low. You can't steal your interest rate and make a 12% return on your investments!

No one talks about second mortgages either. If the standard mortgage costs a bank 40% of the loan value. The second mortgage costs you 100% of the loan value! Foreclosing on gillions of dollars of thes mortgages would dissolve many banks. The government is artificially propping this up. It's like a man who is bleeding to death internally, but his doctor keeps advertising that he healthy because after all, you don't see any blood, right?

We are going to sell more houses in Texas this year.
Interest rates are going to stay low.
Home prices are going to stay flat in Texas.
Http://blog.recenter?tamu.edu/


Douglas e. Oldmixon, Admin. from TREC
Industry regulation inside info... Etc., etc...

Dan Kessler, Assistant Director of Transportation, North Central Texas Council of Governments

Population growth is rising in DFW and it is still on the rise. Collin county is even more positive. by 2035, Collin County is projected to grow to ten million persons! DFW is the 12th largest economy in the world! He forecasts the growth of the Regional Rail System. The A-Train allows the use of existing rail that was once for freight and other purposes.

EBAY and Market Value

Happy New Year!

I've been shopping on Ebay for some pocket knives that I collect.  I am always amused when I get on Ebay.  I mean, you can find anything... nearly.  For whatever reason you can't buy and sell firearms on Ebay.  Anyway... I wonder how some of these sellers arrive at their price?   I suspect they are asking what they want for the item based solely on WANT.  Maybe they overpaid for a particular knife and they are letting that error determine their price.

The knife in red is one that I bought for $15 in an auction.  It has some scratches and there are many out there of this model despite it being about 30 years old.  So, it went for a market price of only $15.

I also bought the one in blue for $50 because it is very rare and in like-new condition.  Pretty easy to understand so far?  Of course it is.  Ebay auctions are a pure-free-market environment.  You want widgets, I've got widgets, how much will you pay based on how much you and the rest of the world want widgets?  Easy.  Ebay.

Nevertheless, sellers on Ebay frequently try to sell things for a price that has no reflection of market value.  I have seen the $15 knife for sale for $25-$50.  Needless to say, the buying population looks at that auction, and passes--the item ends, unsold.  We buyers move on to the ones that start at $0.99 and then bid them up to the "market price."

Market Value.  A simple but elusive concept.  When folks try to sell their homes, they sometimes forget they are selling one house among hundreds--the local real estate market.  If you have that rare "$50 knife" then you can expect a bit more.  But be honest with yourself.  If you have a "beat up two-blader" and there are 5 others out there just like it, you aren't going to hit your goal trying to get "$50" for it.

As a REALTOR, one of my most finely tuned and important skills is analyzing market value for my clients.  It starts before they go on the market, and it continues regularly until we are sold.  That translates into a short time on market for you and a greater feeling of success.  Very often accurate pricing also sells for a higher price than inaccurate pricing which has to be compensated for by many days on market and painful price reductions.

Sellers of used pocket knives on Ebay and sellers of real property in the NE Dallas Metro area have the same objective and the same reality: Market Value.

PS Any currently listed clients of JTOden Realty need not take this post personally.  We experience this phenomenon ALL the TIME and applying it to your own present circumstance, while possible fruitful and valid, is unintentional.  Besides, any client of JTOden Realty that is over priced, KNOWS IT.

Realtor Sentenced for Harassing Former Employee Online

Realtor Sentenced for Harassing Former Employee Online

Staging a Kitchen for Pictures

In the business of selling homes, you know that there's more to photographing a listing than pointing and clicking a camera. A little prep work is necessary.


Staff photographer JP Beato of the The Real Estate Center at Texas A&M offers simple tips on how to effectively stage and photograph a kitchen.

In just under two minutes, Beato covers proper camera placement and the types of kitchen items that should be removed before shooting (hint: nobody needs to see that dirty sponge sitting next to the sink).

Ten Tax Tips for Individuals Selling Their Home

When I see a list of tax tips from the IRS, I assume it' going to say,

1. Pay frequently
2. Pay some extra
3. Pay more

But instead, this list of tips may actually be beneficial to sellers who want to squeeze what they can out of their transactions.  If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten tips from the IRS to keep in mind when selling your home.  Take a look...

The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home.  In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases). You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home. If you can exclude all of the gain, you do not need to report the sale on your tax return. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses. You cannot deduct a loss from the sale of your main home. Worksheets are included in Publication 523, Selling Your Home, to help you figure the adjusted basis of the home you sold, the gain (or loss) on the sale, and the gain that you can exclude. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is ordinarily the one you live in most of the time. If you received the first-time homebuyer credit and within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full credit is due with the income tax return for the year the home ceased to be your principal residence, using Form 5405, First-Time Homebuyer Credit and Repayment of the Credit. The full amount of the credit is reflected as additional tax on that year’s tax return. When you move, be sure to update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS. Use Form 8822, Change of Address, to notify the IRS of your address change. For more information about selling your home, see IRS Publication 523, Selling Your Home. This publication is available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676). Links: Publication 523, Selling Your Home ( PDF) Form 5405, First-Time Homebuyer Credit and Repayment of the Credit ( PDF) Form 8822, Change of Address ( PDF)