10 Steps to Home Ownership. (http://www.buyersagent.com)
1.Are You Ready? In addition to a down payment, you also need cash for closing costs. Find out how much you have and how much you will need. Several Loan programs help with these costs. You may also be able to make this a negotiating point in the offer you put on a property.
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2.Hire A Buyer's Agent Be sure you’re working with a true professional and someone you feel comfortable dealing with. A Buyer’s Agent insures you are being fully represented in a transaction. ......................................................
3.Get A Loan Pre-Approval The real issue with real estate financing is not getting a loan, but to get the loan that’s right for you. Meet with lenders to find out how much you can afford and find out which programs are available.
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4.Look At Homes Before you look, list the features and benefits you want in a home. Consider pricing, location, size, layout and extras. Decide what’s most important and how much you’re willing to compromise. ......................................................
5.Choose A Home Review your notes to narrow down the choices. When you find the home of your dreams, your Buyer’s Agent, can help you be sure it is a good fit for you and your family. It is also a part of your Buyer’s Agent job to help you consider all of the pros and cons of the property including its future resell value. ......................................................
6.Get Funding The mortgage you choose will be determined by how much down payment you can afford, your credit rating, and your income. Shop around with mortgage brokers, banks, credit unions, and insurance companies to fin the financing that works for you.
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7.Make An Offer An offer is more than the price you’re willing to pay. It also includes the terms and timeline of the agreement. Sellers may accept the offer, reject it or make a counter-offer ......................................................
8.Get Insurance Shop around for title insurance, homeowner’s insurance, flood insurance, and a home warranty. Ask your Buyer’s Agent which of these are required for your new home.
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9.Closing This is the official meeting where the transaction happens. A closing attorney or a title insurance company, depending on which state the property is closing in, will make sure all of the required paperwork is complete. Then it’s official. You get your new keys and the seller is paid for the home. ......................................................
10.What's Next While you’re moving in, transferring utilities to your name, and checking out the neighborhood, be sure to enjoy your new home!
Please join my blog subscriptions and at http://www.linkedin.com/in/chrishyzy for more information and helpful marketing ideas!
Thank you,
Chris Hyzy
BG Properties
Realtor - Foreclosure and Investment Expert
Property Management Director
Dallas/Fort Worth, Texas
chrishyzy@realtyagent.com
Top 20 “Hidden Gem Neighborhoods” in the United States.
http://www.neighborhoodscout.com/tx/dallas/central-fitzhugh/
A recent survey evaluated the average housing price growth or depreciation rates across the Nation. The Survey was conducted by NeighborhoodScout.com and determined the Top 20 "Hidden Gem Neighborhoods" in the United States.
While most markets are experiencing double digit losses, the Dallas Region is not projected to take these huge losses. Home purchasing has slowed down as levels of aprehension are present in every Region.
The information provided by NeighborhoodScout.com, found that Dallas, Texas has one of the Top 20 Neighborhoods that still has shown substaintial Annual Price Growth in the double digits! This information on this "Hidden Gem" is as follow:
Hidden Gem Neighborhood: Dallas, TX (Central Expy / Fitzhugh Ave)
Metro Area: Dallas,
Texas Zip Code(s) in Area: 75205
Median Home Sale Price: $203,700
Price Growth Since 1990: 247.79%
Avg. Annual Price Growth: 13.57%
With all the uncertainty in the Real Estate Market, it is great to see one of the Top 20 spots being awarded to Dallas, Texas! I have personally seen a lot of growth in this neighborhood over the past two years. New homes are being built, old ones are torn down. New apartments have been built and are leasing quickly, several new projects are slated to ground break in the upcoming months.
For Regional Market Information pertaining to your area, log onto http://www.neighborhoodscout.com.
Please add me to your blog subscriptions! You can also add me to your LinkedIn.com Connections at http://www.linkedin.com/in/chrishyzy.
Thank you,
Chris Hyzy
BG Properties
Realtor - Foreclosure and Investment Expert
Property Management Director
Dallas/Fort Worth Metroplex, Texas
chrishyzy@realtyagent.com
Five Reasons Not to Buy a Home This Year.
http://realestate.msn.com//article.aspx?cp-documentid=17857568 – Information provided by MarketWatch.com
1. Prices are still dropping.
Data shows that prices are still dropping in many markets. If you buy today, your home could be worth less in a year or even two.
a. "People don't like to buy depreciating assets," said David Berson, chief economist for The PMI Group. According to PMI's most recent U.S. Market Risk Index, reported last month, the risk of lower prices two years from now has increased across the country. Half of the country's 50 largest cities had an elevated or high probability of seeing lower house prices by the end of the third quarter of 2010, compared with the third quarter of 2008.
b. Other home price measures haven't painted a rosy picture either. According to the Case-Shiller home price index, values in 20 major U.S. cities fell 18.2% in November, compared with November 2007. Prices are down 25% from their peak in 2006, according to the index.
c. Steep discounts in some of the hardest hit housing markets have some people wondering if prices could be starting to bottom. But some markets saw price drops later than others — and it could take longer for those latecomers to improve, Fifield said.
2. This sale will be on for a while.
From a pure investment standpoint, you'd probably be better off investing in stocks, said Nancy Flint-Budde, a Salem, N.Y.,-based certified financial planner. In a normal market, real estate appreciates about 5% a year, she said. But even if prices stop falling this year, as Moody's Economy.com is predicting, price appreciation could be weak for a while.
a. In fact, while some recoveries resemble a "V"-shaped pattern, this housing recovery could look like an "L" — once a bottom hits, prices will flat line, said Jay Papasan, one of the authors of the book "Your First Home." Prices likely won't rocket to housing-boom levels soon, as conditions are exacerbated by rising unemployment and foreclosure inventory.
b. The lesson: This housing sale could go on for a while, so there is no need to rush.
3. You may not stay put.
If prices continue to drop, you might have to be in that home for longer than you thought in order for the investment to make financial sense.
a. In any market, it's best to buy a home with the intention of staying there 5 to 10 years. This guideline is even more important today, when you might have to absorb more price drops and weather a couple years of slow price growth.
b. First-time buyers must be listening to that rule of thumb: According to research from the National Association of Realtors, the typical first-time home buyer in 2008 planned to stay in their new home for 10 years, up from seven years in 2007.
4. Your job could be the next to go.
Most Americans are concerned by the headlines of job cuts. Perhaps you have friends who have recently been laid off. If you think your own job might is in danger, stop right there — and stay put.
a. Even if you're comfortable with your own job security, investigate how your future neighbors are faring.
b. Real-estate agents know to pay attention to local market conditions instead of national trends. Don't stop by only looking at neighborhood home prices; the health of the local job market is also important to consider.
c. Have there been many layoffs in the area recently? What are the largest employers, and are they in industries that are suffering severely? Is the local economy diversified?
d. What is the state of the job market in my area, and my metro area in general? This will impact overall demand. At the very least, get a sense of what the local inventory situation is like, relative to demand, to anticipate the pressures on prices over the coming months or years, he added. e. It's best to get a broad picture of the housing market, rather than simply asking yourself, "Can I afford it or not?”
5. Your cash reserves will be eaten up.
Given the recession and the fragile economy today, even if you feel confident about your job it's wise to have a cushion to land on in the event you get hit with a financial broadside, a divorce or a major health bill, for instance. If your down payment would deplete your rainy day fund, keep saving for a while before house hunting.
a. Even if you feel like you have job security, it is much smarter to have five or six months of expenses to have aside. Having a reserve is a wise thing in this economy today.
Hopefully we call all turn the negative around into a positive to generate more closings!
Please add me to your blog subscriptions as well!
Thank you,
Chris Hyzy
BG Properties
Realtor - Investment and Foreclosure Expert
Property Management Director
Dallas/Fort Worth Metroplex
chrishyzy@realtyagent.com
Five Reasons to Buy a Home This Year.
http://realestate.msn.com/article.aspx?cp-documentid=17856930>1=35000 - Information provided by MarketWatch.com
1. Affordability is better than ever.
According to the National Association of Realtors' housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The NAR’s affordability index is a measure of the relationship between home prices, mortgage interest rates and family income.
a. In Las Vegas, prices have fallen 50.7% from their peak and are now where they were in the second quarter of 2002, according to data from Clear Capital, a real-estate valuation and data provider for banks and investment firms.
b. A report from Moody's Economy.com, released the first week of February, predicted that house prices will stabilize by the end of this year, even though the Case-Shiller house price index will fall another 11% from the fourth quarter of 2008. By the end of the real-estate downturn, prices will have fallen by double digits, from peak to trough, in almost 62% of the nation's 381 metro areas, according to the report. In 10% of the areas, declines will be more than 30%.
2. You have a large inventory to choose from.
In many places it is taking months to sell a home, creating loads of inventory — from new homes to existing homes to foreclosures. There was a 12.9-month supply of inventory in December given that month's sales pace, according to NAR.
a. A large selection gives buyers more choices and drives down prices. And home sellers have gotten the picture.
3. Builders are offering big discounts.
Home builders are getting even more aggressive with their pricing.
a. It is recommended that a potential buyer walk in with a preapproval for a mortgage, make an offer, then walk away without making a deal if you have to. Chances are, a builder will call back and reconsider that offer rather than let a potential buyer get away.
b. Builders need to save their credit, save their brand, save their reputation and clear out inventory. With the sales a Builder closes on, they can go purchase cheap land today.
c. Builders are offering steep discounts. New homes offer a warranty not only on the home itself, but also on the home's appliances. Added value is created.
4. Mortgage rates are historically low.
It's not just the price of the home that will affect affordability; mortgage terms will also affect your monthly payments. These days, rates are very attractive for conforming loans, those that can be purchased by mortgage agencies Fannie Mae and Freddie Mac. (The current limit is $417,000, although that can rise as high as $625,500 in high-cost markets.)
a. Earlier this year, rates on the popular 30-year fixed-rate mortgage hit a level not seen in decades, and rates have stayed relatively near that low for weeks. The first week of February, the 30-year fixed-rate mortgage averaged 5.25%, according to Freddie Mac's weekly mortgage survey.
b. More mortgage help could also be on the way. Last week, President Obama said that his new economic plan would help lower the cost of mortgages for home buyers.
5. You can get a federal tax credit.
There's currently a federal credit of up to $7,500 – which needs to be paid back within 15 years — for homebuyers who haven't owned a home in at least three years. However, the economic stimulus plan recently signed by Obama has raised that to $8,000 for homes bought between Jan. 1 and Nov. 30 of this year. That money would not have to be paid back if the home is not resold for at least three years.
a. Extra cash will come in handy: The average first-time homebuyer spends about $6,000 in the first six months of owning a home.
I hope this information helps! Please add me to your blog subscriptions as I will be posting more useful information.
Thank you,
Chris Hyzy
BG Properties
Realtor - Foreclosure and Investment Expert
Property Management Director
Dallas/Fort Worth Metroplex
chrishyzy@realtyagent.com
I am looking to expand my networking connections through www.linkedin.com. Please select the link to my profile and join the Linked In community of networkers. If you have not used Linked In before, this is another great site to network, market and learn from other industry professionals.
The link to my profile is http://www.linkedin.com/in/chrishyzy and I hope to great a rapidly growing group of networkers. Growing my contact grow has been very beneficial as I have learned a lot from other industry leaders and agents that work specific markets or have a specialized field of expertise.
Hope to see you soon on Linked In!
Thank you,
Chris Hyzy
BG Properties
Dallas/Fort Worth Metroplex
Realtor - Foreclosure and Investment Expert
Property Management Director
I specializes in Property Management, Investment Properties, Foreclosures, Apartment Relocations, Private Rental Listings, REO's, Sales, Listings & much more!
Welcome to Realty Service!
My experience in the Real Estate Industry started several years ago as I began working as a Leasing Agent for an Apartment Community in Dallas. As time went on, I was promoted to a Marketing Director, overseeing the DFW Metroplex, and onto running several Apartment Communities at once as a Senior Property Manager.
I moved away from the Apartment Industry to focus on my Real Estate Career. My focus is now on the Sales side of Real Estate, handling Foreclosure Investments, while still working with Rental Properties and Clients.
My goal has always been to provide all of my Clients, Investors and Owners with the most professional service available. I strive for nothing but the best, and my work shows for that. No one is ever treated as "just a number" in my book, each person has their own unique needs that are addressed and listened to by someone who truly has a vested interest.
Please also visit me at:
http://www.linkedin.com/in/chrishyzy
Affiliates and Partners:
Specialties:
Property Management, Real Estate Investments, Sales, Purchases, Private Listing Rentals, Apartment Locating, Client Relocation Needs, Extensive Marketing Knowledge of the DFW Metroplex
Awards:
Top Producing Agent
Property Manager of the Year
Asset Manager of the Year
Job Experience:
Beam Real Estate LLC., Dallas, TX
Director of Property Management Relations
Realtor - Dallas/Fort Worth Metroplex
Investment and Foreclosure Expert/Apartment Liaison
• Working with investors and buyers to find the best foreclosed properties available
• Overseeing Residential Property Management, Foreclosures and Apartment Locating
• Developing and implementing brand recognition for Beam Real Estate LLC. Apartment Locating and Property Management through extensive marketing, networking, referral generation and other business opportunities
• Working with numerous Investment Clubs across the United States
• Managing apartment relocation efforts and rental property searches
• Developing positive business relationships with investors, property owners, assets management companies and clients
Worth Ross Management Company, Inc. Dallas, TX
Realtor/Property Manager/Apartment Liaison
• Overseeing $18 million in Real Estate assets and over 150 properties in the DFW Metroplex
• Creating new and innovative marketing approaches to bring new Investors, Clients, and Prospective Tenants to the Company
• Working with numerous Investment Clubs in the United States, adding new properties to the portfolio piece daily
• Handling all Property Management functions, including rental and maintenance issues, collections, lease violations, court evictions and more
• Developing a relationship with the Property Owner and the Tenant to create a cohesive environment for both parties
Metro Dallas Real Estate Dallas, TX
Senior Realtor/Apartment Liaison/Marketing
• Developed and implemented business programs to track sources of incoming clients, marketing efforts and closing ratios
• Managed and operated a successful charity relationship with the SPCA of North Texas by raising funds and creating awareness
• Met and coordinated efforts with each Apartment Community in the Dallas Region to create a positive company image and awareness of Metro Dallas Real Estate
• Increased a referral base and handling all Property and Realtor/Locator issues
• Top sales agent with the highest procurement of new clients and highest monthly billing
Texas Apartment Locators, Inc. Dallas, TX
Apartment Locator
• Assisted new clientele in apartment relocation efforts
• Marketed through a variety of sources to generate new business leads
• Developed and implemented policies and procedures over marketing the company image, training new hires and creating partnerships with each Apartment Community
• Exceeded Texas Apartment Locators 30% closing ratio to an average of 45% net close out per month.
• Top sales agent with the highest monthly bill out
Gables Residential Dallas, TX
Property Manager/Corporate Trainer
• Oversaw over $35 million in residential assets
• Increased residential renewal rates an average of 15% in Uptown
• Operated each property within projected budget guidelines
• Closed out Net Occupancy Income at a total gain of $167,000 per month on all four assets combined, exceeding projection by 39.8%
• Trained new managers, assistant manager and leasing agents on company policies and procedures
• Managed all of Gables Residential’s marketing programs, resident events, charity programs, and other special event coordination with the City of Dallas and other business entities
I personally focus on every aspect and area of Real Estate. We offer many products and services to our Clients, Investors, Owners and Real Estate Partners.
Our areas of expertise include Property Management, Apartment Locating, Private Listing Rentals, Sales, Listings, Investments, Foreclosures and much more!
My level of expertise in understading the Dallas/Fort Worth Market has proven to be very beneficial for any client I work with. 100% dedication, time and care is given to each and every client, no matter your needs, how large or small!
Property Management Services:
We are Full Time Property Managers!
Specialize in Asset Management and Rental Property Retention
1. Rental Trends
a. Day to day knowledge of the leasing market
b. Market research and personal tours of the neighborhoods to asses rental competitiveness
c. Evaluation of new properties listed on the market to assess rental trends and appropriate/competitive pricing
d. Assistance in determining the market value and lease rental rates to maximize your income potential
2. Property Evaluations
a. Tour property to assess conditions and recommend repairs, decorating and updating
b. Use of TAR-2206 – Owner’s Notice Concerning Condition of Property Under Property Management Agreement – to ensure the property condition is documented prior to a tenant taking occupancy
c. Offer suggestions to maximize rental value
d. Drive neighborhood, review other available properties, and research past/current lease files to establish the market rental range
e. Renewal rates are assessed to stay competitive with market trends and so each owner/investor receives the most from their asset portfolio
f. Tenant is responsible for all care to the property, including landscape maintenance, foundation preventative maintenance, A/C filter replacement, etc. (Normal wear and tear related issues only)
3. Specialized Marketing/Advertising
a. Diverse and varied advertising online, in print and via email
b. FREE advertising of your property
c. Strategic use of Internet Marketing and Networking
d. Extensive use of Multiple Listing Service (MLS) and co-brokerage with other Real Estate Professionals
e. Specialized announcement letters to neighborhoods on surrounding streets, as needed
f. Extensive contacts to Investment Clubs, individual asset managers, Real Estate Agents, relocation companies and major corporations
g. Continuous updates and evaluations of our marketing efforts to ensure each property is occupied with a qualified tenant with the utmost care and professionalism
h. Track vacancy rates, factors, time on the market
4. Tenant Screening and Verification
a. Complete handling of all tenant applications, inquiries and background screening through an extensive screening process
b. Verifying rental history, credit, criminal, landlord and employment verification
c. Written Texas Association of Realtors (TAR) application required for each tenant 18 years and older
d. Final screening results presented to the owner for final approval
e. Copy of each application sent to each owner/investor (excluding credit security information and Fair Housing compliance – Age, Sex, Disability, Social Security, etc.)
5. Lease Negotiations and Contract
a. Exclusive representation for each property owner/investor
b. Preparation and execution of all lease contract documents
c. Ongoing review of legal updates and changes in the laws to assure compliance with Texas Property Codes as well as local, state and federal laws.
d. Copy of residential lease sent to each owner/investor
e. Enforcement of lease provisions
f. All tenants are required to purchase a rental insurance policy for added property protection
g. Efficient and time sensitive handling of all tenant and owner/investor relations
6. Property Accounting/Financial
a. Rent collections, eviction filing and retrieval of late rent/collection efforts
b. Computerized accounting and record keeping to maximize a return on your investments and alleviate headaches with tax preparation
c. Maintaining all security deposit account and owner/investor reserve funds
d. Payment of maintenance bills pertaining to the property
e. Monthly income and expense statements
f. Itemized record of all transactions on the general ledger
g. Monthly distribution of net rents via check or direct deposit. Checks may be mailed directly to your bank.
h. Annual operating statements – 1099, for tax records at the end of the year
i. Compliance with all IRS requirements
7. Property Inspections
a. Initial inspection upon tenant move-in
b. Picture inventory
c. Move-in inventory and condition form completed within 24 hours of the tenant taking occupancy
d. Routine and periodic inspection during tenant occupancy on an as needed basis.
e. Final move-out inspection completed within 5 days of vacancy
f. Written inspection reports to the owner/investor and tenant with findings and required actions needed
g. Drive-by inspections as needed
h. Coordinate efforts with Home Owner’s Associations (HOA’s) and Code Compliance Officers to minimize property loss and issues.
8. Maintenance and Repairs
a. Experienced Property Managers and Maintenance Vendors
b. Maintain a positive and professional relationship with qualified vendors
c. 24/7 maintenance emergency response
d. Use of competitively priced vendors to minimize overall expenses
e. Monitoring and supervising small repairs requested by the tenant or owner/investor
f. Obtaining bids for large dollar repairs over $250.00
g. Computerized Work Order processing and tracking
h. Detailed maintenance repairs available for the owner/investor
i. Extra property keys are safely kept in the Management Office for inspections and maintenance vendors
j. Repairs are deducted from the Owner’s Reserve Funds
k. While the property is vacant, we will coordinate all the repairs and maintenance for you
9. Added Services
a. Insurance inquiries
b. Updates on the new security device statute, Article 92.151 of the Texas Property Code placed in act as of September 1,1993.
c. 90 Day Tenant Guarantee - This guarantee will simply state that we will refund the Management Fees for the first 90 days (minus the time the tenant occupied the home), in the event we have to evict the tenant, the tenant skips, etc.
d. Management Performance Guarantee – Beam Real Estate LLC. will guarantee your satisfaction in our Property Management Services. As an owner/investor, you may cancel your contract, without penalty, should we fail to adhere to our commitment to you. We will manage your property as if it were our own personal investment, saving you time, energy and providing the most return on your investment homes.
e. Use of State of Texas Promulgated legal forms
f. Reimbursement of three times the HOA or Code Compliance Violation Fees in the event the owner/investor is charged due to our mistake
"Chris is an amazing multi-tasker, which is truly the core of Property Management. His ability to coordinate maintenance, find and qualify potential renters, and also to take care of the Property listing all at the same time is truly a rare quality that he handles with ease. I would recommend any investor or owner to allow him to handle their Property Management solely due to his knowledge, expertise and timely manners." December 30,2008 Ann Marie Godbolt , Realtor®, International Real Estate Specialist , RE/MAX Premier
"Met Chris through the GLBT Chamber of Commerce and he's been an excellent source of knowledge and great at networking. He's provided my agency with numerous referrals and he is very creative and motoviated in making sure everyone is kept abreast of what he brings to the table. Alex" December 15, 2008 Top qualities: Great Results , Expert , High Integrity Alex Long , Insurance Agent, Allstate
"Chris Hyzy was a great Realtor that helped me find just the right place to settle into. He was very informative and patient with all my questions and needs. Whether it's a home purchase or even apartment rental, he is very capable of finding whatever you are looking for. I have utilized his services on more than one occasion and refer him to all my friends and co-workers. I 100% recommend Chris Hyzy to anyone looking for an honest, trustworthy and knowledgeable Realtor who is willing to put his client's needs first!" January 25, 2009 Ramon Navarro , Creative Director , Navarro Landscape
"Chris was very helpful removing a problem tenant, getting the property repaired, and moving in a high quality tenant." Top qualities: Personable, Expert, High Integrity. January 25, 2009 Mark Browder hired Chris as a Real Estate Agent in 2008.
"After spending countless weeks looking for a new rental property and nearly giving up, I came in contact with Chris Hyzy. Chris was very professional and efficient and spent the necessary time to help me find my perfect rental home. I am beyond words when it comes to my gratitude to Mr. Hyzy and would recommend his services to anyone in the Real Estate Industry." Top qualities: Great Results, High Integrity, Expert. March 31, 2009. Eric Rader, Citi Mortgage
“Chris is extremely proficient and knowledgeable in this industry. His relationship building with his clients and business partners is extremely well maintained, as well as his ability to speak to others and be personable. In my time working with Chris, he has opened many doors for myself and my company that will allow us to do much more future business and excel above and beyond in this hurting economy. He thinks outside-the-box and is money motivated, and, at the same time, his creativity brings others great opportunity. I look forward to doing more business with you, Chris!” April 3, 2009 Kyle Gilbert , Client Services Director, Global Advantage Credit Solutions
“I have very much enjoyed working for Chris as a locksmith. He is very knowledgeable in the real estate industry and is a pleasure to work for. He kept me busier than all of his co-workers combined. I highly recommend Chris in any area of real estate/property management. He's the Best!!” April 17, 2009 Joe Nardozza , Owner , M & S Locksmith
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