Fort Worth Texas real estate blog to discuss real estate in Dallas TX

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Where are we now?

May 28th, 2008 1:53 PM

Sorry I have not been on here in a while but I have been busy moving. I got a great deal on a home and it was one my wife loved a year ago so I decided to go ahead and pick it up. Where are we now? I am talking about the Fort Worth housing market. Apparently there are just a hand full of people outside of the real estate world that believe we are doing well. One of them is "Tad" Tarrant County Appraisal District. Everyone of my investment properties went up in value. I'm not mad that is why I bought them if you want the value to go up on your property you have to pay more taxes. You just cannot have one without the other. I had a friend that I was talking to about home buying and selling and he could not believe that the market was a not a disaster as the news makes it sound. He than had a friend at work put his house on the market and it he had an offer right away. He decided to turn down the offer because he did not have to sell at that time and they came back at a full price offer. Now my friend believes what I have been telling him for a while. All I am saying is find out for yourself. Get in touch with us and ask for facts, numbers we will send them and you can then turn off the 6pm news. Good luck.

Posted by Yellow Ribbon Realty on May 28th, 2008 1:53 PMPost a Comment (0)

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Tired of hearing about "The market is bad"

March 26th, 2008 6:50 PM

I hear and read all the time now how the market is so bad and prices declining. I am not blind to the real estate market changing. I am just saying that it is not as bad as they are reporting, especially in the Fort Worth area. I had an offer on one of my listings in January. It was a $1,000 less than the original asking price and to my dismay my client turned it down. If it is that bad we would have not gotten that close to the offer price nor would my client have turned it down. It was only listed for 27 days. I just read that homeownership has fallen to 68.2%. If someone did not know that may seem low however it fell from only 69.2% and that was a historical high. The market has been doing so well for around 4-5 years that when it slows down from those highs, every is at a panic. There is no need to panic, investors should be in hog heaven and so should buyers. If you are selling/buying and worried that you may have to take a little less than you would have gotten last year to sell. Well so is the house that you are going to buy. It washes out. Don't let the news and the flashes at the bottom of World news scare you of our Fort Worth area market. We are still doing ok.

Posted by Yellow Ribbon Realty on March 26th, 2008 6:50 PMPost a Comment (0)

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Ways to help you sell your Fort Worth Home

March 17th, 2008 11:34 PM

Even if you unfortunately decide not to use a Yellow Ribbon Realty realtor. We still want to give you a few things to help prepare to get your home for sale so that it will sell quicker for you. If you would like more than give us a call at 817-886-4319 or email us at office@yellowribbonrealty.com

9 Ways to Make Home Buyers Hate Your House

1. Odors

House odors are number one on the home selling uh-oh list. And narrowing it down, odors from cigarette smoke and pets take top billing, with mildew not far behind.

If you smoke indoors--the house smells like cigarettes. If you have pets, the house might smell bad--even if you don't notice it. Ask someone who doesn't live there to take a sniff, and don't get angry when they tell you the truth.

Eradicate the odors so that you can present potential buyers with a clean, fresh atmosphere--not a house that's full of perfumes to cover up the odors.

2. Dogs that Meet You at the Door or in the Driveway

Dogs frighten some people and irritate others. You'll have a much better response from showings if you control your pets--dogs, cats, whatever.

You say you plan to put them in a bedroom or garage and then ask people not to open the door to that area? Bad idea. Would you buy a house you can't inspect? Of course not.

Remove pets during showings if possible. If you can't, contain them in crates for their own safety and to show respect for the feelings of potential buyers.

3. Dirty Bathrooms

Grimy bathrooms are an instant turnoff. Scrub them, paint them, buy a new shower curtain, rugs and towels--do what it takes to make them shine. If you're serious about selling the home, the extra work is a must.

4. Dimly Lit Rooms

Dark homes are a turnoff to most home buyers, so try to brighten them up:

· Replace dim light fixtures

· Install additional light fixtures

· Install (quality) sun tunnels or skylights

· Remove heavy drapes to let the light stream through windows

· Repaint some rooms with colors that reflect light

· Trim tree limbs that shadow the house

Dirty and fogged windows are another buyer turnoff. Clean them inside and out to bring in more light. If possible, replace any double-pane windows with broken seals. You can find them by looking for a foggy residue that cannot be removed.

5. A House Full of Busy Wallpaper

Busy wallpaper in every room turns off most buyers, and even people who love wallpaper rarely like what you've chosen. It's a personal decorative touch that they want to select themselves.

It's the masses you must appeal to when you're selling a home, so take a hard look at your wallpaper and decide if it should be removed and replaced with paint. Don't paint over it, because it will be obvious that you did--and buyers know that makes removing it even more difficult.

6. Bugs

Roaches, spiders, any insect that shouldn't be in the house. Get rid of them.

7. Poor Curb Appeal

You must grab a buyer's interest from the curb if you want to sell the home for top dollar. Home buyers often refuse to go into a house with an unkempt yard, sagging doors or peeling paint. You say you can't afford to paint? Okay, but get that yard in tip-top shape and grab a screwdriver to fix those doors.

8. Gutters with Plants Growing in Them

I'm serious. Some people never clean their gutters, and it always makes buyers wonder what else hasn't been maintained.

9. Sellers Who Hang Around for Showings

Yes, you... leave the house during showings. Home buyers feel awkward about opening closet doors and lingering for a really good look at the house if the seller is home.

Posted by Yellow Ribbon Realty on March 17th, 2008 11:34 PMPost a Comment (0)

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New and exciting FHA loan amount limits have been extended

March 6th, 2008 2:34 PM

They have been talking about stimulating the real esate community or a while and they have came through with at least one way of doing it. They have raised the FHA loan limits to $271,000 in the DFW area. This means that people can now purchase a home up to $271,000 with scores in the low 600's. This does not mean everyone can in the low 600's. Usually a way to figure out if you can get a FHA loan is to see if you have made all your payments on time for the last 12 months. FHA is a loan to help those who went through a bad time but now are showing they are trying to get back on their feet and have been doing well. This does not mean that if you made 1 or 2 late payments that you cannot qualify. If you think that you may fall under this and have been wanting a larger home in the Dallas or Fort Worth , than give us a call so we can find out if you qualify. Call 817-886-4319. If you have any questions than give us a call and we will get you some answers. Go to http://www.yellowribbonrealty.com to the "Ask a questions" page and ask away.

Posted by Yellow Ribbon Realty on March 6th, 2008 2:34 PMPost a Comment (0)

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Investing in Fort Worth

March 4th, 2008 5:00 PM

Investing in Fort Worth is getting better. Not so much as equity but consistency. That consistency is what is keeping Fort Worth out of the real estate trouble the rest of the world is in now. Lending standards are getting even tougher and that means less people can buy houses. Rates are historically low and the number of renters are getting higher. Fort Worth grew over 15% in the last 6 years thats astronomical for the real estate world. Thats twice as much as Dallas. The job market is booming which is always helping the rental market. People relocating, people moving up in home it all helps the investing world. Tarrant County has always been pretty consistent in moving up 6% a year in equity. Not a lot but again consistent and if I am looking for long term investing or worried about losing my investment than I play safe in Fort Worth. i own a few properties in Fort Worth and have not had a empty house yet. I do have access to more renters than the average Joe but they are out there. I myself i like new properties. I get the first months rent in my pocket because I do not owe the mortgage company for at least 30 days. No out of pocket expenses, it's all under warranty. If something has gone wrong I contact the builder and its been fixed. That means more money for me. There are some good deals and situations for some pre-owned. It's just a preference for me to go new. One of the biggest things is It is easier to rent a new home than a pre-owned which should be important to everyone. Again, as I said there are advantages buying both pre-owned and new, I just prefer new. However, the big picture is investing is good. There was a real estate "guru" talking the other day and he stated that if your not buying investment property in today's market, than you will never buy nor should you buy investment properties. I agree. Location, Location Location.

Posted by Yellow Ribbon Realty on March 4th, 2008 5:00 PMPost a Comment (0)

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Is the market that bad?

February 19th, 2008 8:17 AM

You hear on the news that the real estate market is in an uproar. You also hear on the news that it is raining but where is it raining. The news talks in general an overall look at real estate. In California, Florida, Michigan or Arizona and a few other states that may be true but in Dallas or Fort Worth real estate market that is not as true as they say. Let me give you some stats that come from the experts. In January 2008 there were 12,617 new listings in the north Texas market still just over 1400 less than what was on the placed on the market 2 years ago in the Dallas or Fort Worth area when they stated the market was at a peak. The houses that are selling are selling 1% less and 10 days longer than they were two years ago in January. Only 10 days more, does that sound like Dallas Fort Worth is falling apart. In the last 24 months there were 18 months that had more houses on the market than what there is now. So if you were thinking that you have to compete against so many people you are in a better position in that point than you were 75% of the time in the last 24 months. Condos, farms and ranches have increased 16 and 17% from last year. As an investor or a home owner I like a 16% return on my money in the first year. So what I am saying is check where it's raining, just don't turn on the news and get your information there check it out for yourself. If you would like more stats or more information on your neighborhood or your area, than give us a call at 817-886-4319. Happy house hunting from your Yellow Ribbon realty team.

Posted by Yellow Ribbon Realty on February 19th, 2008 8:17 AMPost a Comment (0)

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What can a realtor do for me?

February 8th, 2008 12:43 PM

Hello everyone, I wanted to tell you a little about looking for a pre-owned property in Fort Worth, Tx. I don't think it matters how many houses you bought you should always get a realtor that works for you. I'm not jut saying that as a realtor I want to give you some reasons why. Realtors have access to MLS with extras. We can see what you see plus more. How long it is on the market, is this the first time on the market, possibly what they bought it for, along with alot more information that may be wise to have when coming to negotiations. Not only that reason, but realtors can look up other homes that compare in the area that have sold and that compare to the home you are looking at. Very important to have for negotiations. Another important reason is if you want to look at lets say 6 houses in the Fort Worth, Tx area you will have to call 6 different realtors, all whom work for the client who's house you are looking at. Not smart to do, thats like using the prosecutor as your defense lawyer also. To top it off if you are looking to buy a home your realtor is free to you. The seller is going to have to pay your realtor. It's already included in the price. You are not going to get a better deal, you are going to let the seller's realtor make twice as much money. That is how it works. the seller's realtor sells the house at typically 6%. 3% going to the them and 3% going to the buyers agent. It is in the contract so the seller's paying 6% do you want 6% to go to his agent or 3% percent going to someone who is on your side. Always have a realtor who knows the business and the in's and out's. We would love for you to use a realtor from Yellow Ribbon Realty, however we just want to make sure you are represented by a licensed realtor. Good Luck

Posted by Yellow Ribbon Realty on February 8th, 2008 12:43 PMPost a Comment (0)

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Fort Worth Real Estate

February 4th, 2008 7:10 PM

Today, I wanted to talk about foreclosures and how they effect you. With the adjustable rate loans that were so popular in 2006 and into 2007 the foreclosure rate has went up. Not due to job lose in the Fort Worth or Dallas area but due to the interest rates going up on these loans causing people to be unable to pay such a high mortgage. Then from there the domino effect starts. Having 1 foreclosure in your neighborhhood really will not effect you that much unless that is the only house that has sold in the last 6 months. When getting a house appraised for sale or to buy they pull what we call a "CMA" Comparative Market Analysis". They input your square footage and number of bedrooms and compare it to other homes that are in the neighborhood that have sold in the last 6 months. They usually do not go beyond six months unless there is not enough comps in the area for the last 6 months. So if you had a foreclosure in your neighborhood it should not be a hinder after 6 months. Like I stated before if you have only 1 or 2 a respectable appraiser overlooks them when there are enough other comps to compare to. So don't think that foreclosure down the road is going to ruin your neighborhood you will survive it. Give us a call at 817-886-4319 if you have any more questions regarding foreclosures.

Posted by Yellow Ribbon Realty on February 4th, 2008 7:10 PMPost a Comment (0)

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Feds lower rates

February 2nd, 2008 11:16 PM

What does that mean for real estate. Some people get confused and think that when the feds lower the rates it lowers the interest rates on housing. This is not necessarily true. When they lower the rates they are talking about the rates that they loan the money to banks for small loans. So if you are taking a $10,000 personal loan from the bank than your rate will or should be lower than previously. This has been a common mistake that people and even new realtors sometimes make. The mortgage money depends on bonds. I can send more information to anyone that would like more but to get into all the details here will fill the page. Don't get me wrong the mortgage rates are better than they have been in a while and the market is a buyer's market. I just wanted to tell people that when they here that the feds lowered the rates twice in about 10 days it does not mean that the mortgage rates went down twice. It can in the long run trickle down in the effect but it is not directly talking about mortgage rates. Email me at tmaresh@yellowribbonrealty if you would like additional information.

Posted by Yellow Ribbon Realty on February 2nd, 2008 11:16 PMPost a Comment (0)

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Fort Worth Voted #1

October 16th, 2007 7:35 AM

Fort Worth was voted #1 place to invest. We have never been in trouble and i have been saying that for months. Now i have been backed up by CNN Money and Forbes.com. Give me a call at 817-886-4319 to find out how I can help you.

Posted by Yellow Ribbon Realty on October 16th, 2007 7:35 AMPost a Comment (1)

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