Photos from Kim Daugherty, McKinney REALTOR, TX Broker
Pool party in Stone Brooke Crossing hosted by Kim Daugherty & Laura Barron of RE/MAX Four Corners.Located in: Mc Kinney, TX
OH NO! There's a HIGHER OFFER than ours? Guess we'll move on to another house, right?
I hear this comment quite a bit when working with home buyers. The buyer found the perfect home, got their nerves together to make an offer on the home, only to find out that there are other offers on the property.
Here's what buyers need to know about making a STRONG offer.
First, price is only ONE piece of the puzzle. Sure, it's a big one and it's best to not insult the seller with a low-ball offer that has no supporting documentation. But price is just one part of the offer. What are other ways to make an offer strong?
1. Quick Closing Date. This assumes that the seller is ready to move, or has already moved out of the property. The buyer's agent needs to be on their A-game in asking the listing agents all the right questions prior to making an offer. If the seller is ready to move the property, then a 30-day closing OR shorter is attractive to the seller. If you can time the closing so that the seller doesn't need to make another mortgage payment, then all the better!
2. Generous Earnest Money - There is no standard amount buyers must put down as earnest money - not in my area at least. A good rule of thumb is about 0.75 -1% of the sales price, but I've seen as little as $500 go on to be accepted on a $200,000 home. By jumping up your earnest money amount you are telling the seller, "I am serious about buying your house!". Should the contract fall through due to the BUYER'S FAULT, the seller gets to keep the earnest money...so extra is better to sellers.
3. No Home-Sale Contingency - Renters, this one works out in your favor. In the situation where two contracts have equal terms, with the exception that one has a home-sale contingency and one does not, the one withOUT a home sale contingency is generally MUCH stronger and less risky to the seller.
4. Include a Pre-Approval letter from your lender - By showing the sellers up front that you have already spoken with a lender about your ability to purchase the home, you will appear stronger than another buyer that has not. In my opinion, a pre-approval letter should ALWAYS be the first step in the home buying process!
5. Choose an Agent with a Good Reputation in Your Area - OK, so a seller won't ignore a great offer presented by an unknown buyer's agent. Money is money to the seller. But, let's say you are up against another offer that is for all intents and purposes EQUAL. The seller turns to the listing agent and asks for their opinion. Lets just say that the listing agent has heard that Agent B has a less than stellar reputation when it comes to repair negotitiations. Maybe they've done a deal or two with Agent A that have were smooth sailing. Which agent the listing agent prefers could factor in.
So, when faced with the multiple-offer situation, there are other negotiating points that can amp up an offer without having to pay more than you are comfortable with. A good agent will know how to do this and fight for you every step of the way!
Photo source: Flickr
For all the First-Time Home Buyers out there - have you asked yourself lately,
"Why is it a good time to buy McKinney, TX Real Estate in 2009"?
If so, I've got the answer: $8,000.00!
What does $8,000 have to do with it? The revised economic stimulus bill, signed 2/17/09, is offering First Time Home Buyers an $8,000 Tax Credit!
Here's the scoop:
1. You'll recieve a credit in the amount of 10 percent of the sales price up to $8,000.
2. It applies to purchases after January 1, 2009 and before December 31, 2009.
3. Income limits (based on adjusted gross income) are $75,000 or less for single buyers and $150,000 or less for married buyers.
4. The credit does not have to be repaid by the buyer as long as they own the home as their primary residence for at least three years.
5. If the buyers do not own the home for at least three years, the credit will have to be returned to the government.
6. The revised credit is still refundable, meaning that the credit will be paid out to eligible taxpayers, even if they don't owe tax or the credit is more than the tax they owe. Woo Hoo!
You will need to consult with your tax preparer or CPA about the details for applying for the credit. An IRS Form 5405 will need to be completed.
Another great reason: LOW INTEREST RATES
Yet another reason: LOTS OF HOMES TO CHOOSE FROM!
With 921 homes available for sale on the MLS, in addition to lots of new construction available, NOW is the BEST time to buy McKinney, TX real estate!
In this next secion of "McKinney's Ultimate Buyer's Guide",we'll look at McKinney's neighborhoods by price range - from $300,000 to $350,000. As of today, March 6, there are 61 homes for sale in McKinney within this price range.
You could start your home search in any of these unique neighborhoods:
Stonebridge Ranch - a sought-after master-planned community offering top amenities to homeowners, such as a beach & tennis club with sandy lagoon, aquatic center, stocked ponds, hike & bike trails and appealing landscaped entrances:
Craig Ranch - another popular master-planned community centered around the PGA golf course at Craig Ranch. Area offers shopping and great schools:
Areas in and around Historic Downtown McKinney
Tucker Hill
Hidden Creek
Village Park - Allen ISD
And these great neighborhoods:
The Eldorado Countryclub Area:
Of the 60 Homes priced in this range , they had the following characteristics according to MLS data:
Note: All data & photos taken from NTREIS
Last week I collected my mail at my office and began sifting through it all. I immediately looked for important items - you know, bills, and also looked for things that I could immediately toss. Then I looked at a postcard from our Texas Association of REALTORS. It got my attention. Perhaps you got a postcard like this.
It said, "What's really going on with Texas real estate?"
Then it said "Ask a Texas Realtor".
The Ask a Texas Realtor campaign is one of the most important websites we, as Texas Realtors, could promote to our clients, and I shamefully had not taken advantage of it yet.
I went on over to www.texasrealestate.com because I admittedly had not done so yet.
It was a WEALTH of information. You can even subscribe to the RSS feed for your website. Talk about a no-brainer! Here are a few things I learned in the few minutes I spent on the site that day:
Now, do all of these things have to do with Texas REAL ESTATE? No. But you get the idea. You can have one site to direct your relo clients to for anything and everything to do with Texas. Take advantage of your State Association and the great site they have put together. I know I'll be paying a lot more attention to it!
If you have been following my series, "McKinney's Ultimate Buyer's Guide", you know that so far we've looked at McKinney's neighborhoods by price range - up to $275,000. In this post we will explore homes priced over $275,000 up to $300,000. As of today, February 28, there are 60 homes for sale in McKinney within this price range.
You could start your home search in any of these unique neighborhoods:
Stonebridge Ranch - a sought-after master-planned community offering top amenities to homeowners, such as a beach & tennis club with sandy lagoon, aquatic center, stocked ponds, hike & bike trails and appealing landscaped entrances:
Craig Ranch - another popular master-planned community centered around the PGA golf course at Craig Ranch. Area offers shopping and great schools:
Areas in and around Historic Downtown McKinney
Tucker Hill
Hidden Creek
And these great neighborhoods:
The Eldorado Countryclub Area:
Of the 60 Homes priced in this range , they had the following characteristics according to MLS data:
Note: All data & photos taken from NTREIS
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d + b real estate specializes in Collin County Real Estate.You can count on exemplary customer service before,during & after the transaction!When you need a McKinney REALTOR (R), call 972-838-5394!
Who is Kim Daugherty?
I am the Broker/Owner of d + b real estate - McKinney's newest boutique real estate firm We are a customer service-driven company whose focus is on the family, because we ARE family. "Real Family. Real Estate." is not just the slogan, but it's how we run our business. We understand that purchasing a home is one of the largest investments most people will ever make, and we also understand that a move doesn't just affect mom or dad, but the entire family. That is why we are experts in the area schools, neighborhoods and community benefits that each city provides. In addition to serving families, we also provide home buying & selling services to the first time buyer, empty-nesters, relocations & everyone in between!
Before opening d + b real estate in December 2008, d (me - Kim Daugherty) and b (Laura Barron - my sister) partnered up as The Barron-Daugherty Team at RE/MAX.
I grew up in Carrollton, TX. After graduating from Newman Smith High School I went on to recieve my Bachelors Degree from Texas A&M University with an emphasis in business and speech communication courses. I then returned to the DFW area where I worked as a Pharmaceutical Sales Representative. I later married an incredible man, Kevin, moved to the Northern Virginia/DC area where Kevin was stationed in the Army and made the decision to be a stay-at-home mom when I gave birth to our first son. I didn't begin my real estate career until 2002 when I decided to go back to work part-time...just to "test out the waters" to see if real estate would be a good fit. As it turned out, I immediately saw this profession as one that offered the flexibility I was looking for. In 2003 our family made the move back to Texas and settled on McKinney as the place to raise our family. My sister, Laura Barron, had found that McKinney was the BEST place to live and raise a family. I began working for a large home builder and learned all about the new construction business. Knowing that I would eventually want to earn my Texas real estate license I made the decision to find a successful agent that I could work with as an assistant. It turns out this was the best decision I could have made...
A Successful Team hired me as their assistant in 2004 where I quickly learned what it takes to be a success in this business. I recieved my Texas license in January 2005 and immediately focused on working with buyers. I have made it my goal to make the home buying process as fun & stress-free as possible! I don't believe that the real estate business has to be boring and old-fashioned. Technology is so important to today's buyers and I'm making it a priority in my business to seek out the most effective resources for building my business and educating customers about McKinney Real Estate and Real Estate in Collin County.
In 2006 my sister, Laura Barron, joined our team as the Client Care Coordinator and Buyer's Agent. It wasn't long that we realized what a dynamic team we could make together. What better way to work than with your own family? In January 2008 we parted ways with our team and formed The Barron-Daugherty Team....
That leads us up to today! After learning from the "The Big Guys" (RE/MAX, KW, C21), we realized that it doesn't take a big name to make you a great agent. It takes dynamic marketing, unparalelled customer service and a true passion for your job to make you a success. We're proud to offer McKinney a new choice... d + b real estate!
Each Real Estate market is different. As a REALTOR, specializing in Collin County, I focus on the specific needs of home buyers & sellers in this market.
NEW HOMES: I have experience working with a home builder and can use this expertise when negotiating the best deal for buyers looking to purhase new construction.
FIRST TIME BUYERS & SELLERS: Newbies are put at ease when they work with me! I have created a step-by-step document that outlines each step of the home buying & selling process that is specific to the local market. Clients will know what to expect at every stage of the process. Knowledge is the best tool!
ALL buyers & sellers benefit from my list of Vendors that I have compiled from satisfied clients. Whether you are looking for a painter, HVAC technician, masonry contractor, lender, title company, handyman, babysitter or even the best place to get a slice of pizza in town, I have the answers!!
ALL buyers also benefit from the Dream Home finder. Stop searching through the big websites that turn up way too many homes that don't meet your specific criteria. I'll create a personalized home search website that meets YOUR criteria. Looking for a home with a kitchen bigger than 12 x 14? I can do that! Looking for a golf-course lot in a subdivision? I can do that! Looking for a historical home located within a designated historical district? I can do that too...Let me help you buy or sell your McKinney home!
I specialize in Collin County:
However, I also serve Dallas, Carrollton, Richardson, Wylie, Sachse, Rockwall, Rowlett, The Colony & Addison. I love the Dallas area and there is a perfect city for everyone!!
"Being first time home buyers, we didn't know what to expect and had many concerns. All of our concerns were put to rest after the first day of working with Kim. She had our best interests in mind through the entire process and helped us get exactly what were looking for and for less than we could have imagined. Kim was extremely knowledgeable, trustworthy and such a delight to work with. She made our buying experience enjoyable and trouble-free. I would recommend her and the Kraft team to anyone looking for a realtor." Kym and Brad Jackson
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