Dawn Rose

It seems premature to type this on only January 14 of the new year, but the DFW real estate market is already hopping and it's only 2 weeks in to 2009. I guess it could be that it's that time of the year and people are anxious for a change but more likely it is the unbelievable drop in interest rates! The rates are lower than they have ever been in my lifetime, which may not seem like very long to some but to me is quickly approaching 36 years... that's a long time to wait for rates below 5%! Buyers are coming out of the cold to see my listings and people are trading up in to larger, more upgraded homes with the same monthly payment. Compared to much of the country, Texas is in much better shape when it comes to it's real estate market. Compared to the rest of the state of Texas, Collin County is THE place to be doing your real estate business. Texas has finally surpassed California and New York as the state with the most number of Fortune 500 companies who call this fine state their home - which means more jobs and more housing needs for Texans. What is my point tonight? If you're thinking of selling, now is the time to start asking the questions and getting your home ready. If you're thinking of buying, don't sit around waiting for that next quarter point drop -go now! Your Realtor can pair you up with a great Lender. If you're not ready to trade up then at least get a Refinance in the works. Seize the day and those great rates. So stop reading that doom and gloom guy in the DMN and ignore your TV. Buy and sell in Texas - it's worth your time and effort. Till next time, Dawn

Just today at my son's hockey game a fellow parent asked me if they should sell their house this spring or wait another year. Since I hear these kinds of concerns a lot I am pretty quick to assure potential sellers that our local market is stable. While things are moving a little slower than a year ago, it is not as bad as the media wants you to believe. In an effort to spread a little POSITIVE news and less of the negative I thought I would share an article that someone sent to me just last week. Thank you to my good friend Carla Nelson at Republic Title for sharing this great information!

New report shows rise in Dallas-area home prices

Monday, December 22, 2008 By STEVE BROWN / The Dallas Morning News

A new housing report shows that the Dallas area is one of the few large metropolitan areas in the country where home prices haven't fallen this year.

Four of Texas' biggest metro areas had slight price increases at the end of October compared with a year ago, the study released Monday by First American CoreLogic said. That put them in the top four spots among 30 metropolitan areas nationwide.

Overall home prices in the Dallas area were up 2.4 percent for the year, while the nationwide price index fell more than 10 percent.

Other recent studies have said that North Texas home prices fell between 2 percent and 4 percent in the last year. It's not uncommon for these surveys to disagree.

Dallas housing analyst Ted Wilson said that the home price numbers all "depend on what statistics you look at" and that small changes are a "nonevent."

"Compare that to other parts of the country where prices are dropping 25 and 30 percent," Mr. Wilson said. "Thank goodness we don't have that in Dallas.

"Our inventory levels are much lower than in other areas, and that's what drives the price discounting."

The Dallas area was behind Austin and Houston in the ranking of price increases in more than 30 large markets. Austin had the biggest increase, at 5.26 percent.

First American CoreLogic's report is based on an index that tracks sales prices for the same homes over time.

Analysts are hoping the worst of the U.S. home price declines are behind us.

"The rapid contraction in the economy, deteriorating labor markets, the large inventory of unsold homes and increasing defaults suggest that home prices will continue to decline but with a moderating pace throughout 2009," said Mark Fleming, chief economist for First American CoreLogic.

HOME PRICE INDEX

So you have spent the money and updated your home. The floors that were once builder grade carpet and basic 12x12 ceramic tile are now hardwood floors and custom tile, travertine and frieze carpet. Your once dull formica counters are now glorious granite and you have removed the tired wallpaper and skip-troweled and painted your walls with today's colors.

So why is your home still sitting on the market?

1. Price

In this market it is imperative that your home be priced correctly. Although you know what you spent on those wonderful updates, your Buyer-in-waiting does not know, nor do they care. They know (via their educated REALTOR) what your home should sell for in TODAY'S MARKET. They are told every day on the news, in the newspaper and from their best friend over coffee at Starbucks that now is the time to find a great deal on a home. You do not have the luxury of listing too high and then waiting patiently for the right person to fall in love with your home to the point that price is irrelevant. Days on market are watched closely by REALTORS and their clients and if you stay there too long they decide that something is wrong with your home and will move on.

2. Showing Condition

It's great that you have kids with lots of varying interests. My own home is a storage place for hockey sticks, soccer balls, Webkinz and Wii accessories - but I am not trying to sell my home right now. If I was, you can be sure that everything would be tucked away neatly in it's own place. Buyers have a lot to choose from and when they are seeing an average of 10 to 12 homes in one day they are looking for perfection! So, if you are serious about moving and have already worked with your REALTOR to set a fair market price then you have to move forward as if you are moving out of that home. Here is how to get started:

A. Clean out those closets, cabinets, and drawers! Get rid of anything you do not need - donate, sell or rent a storage unit nearby and house it there, but get it out of your valuable storage areas in your home. Show Mr. and Mrs. Buyer that your home has more than adequate storage and that you are Mr. and Mrs. Clean while you are living in THEIR future home.

B. Clean up and maybe add to that landscaping! Trees should not be touching your home, shrubs should be uniform in height and not higher than the bottom of the window, 86 the weeds and plant some flowers when possible. It does not take much to make a huge difference.

C. De-clutter the kitchen and bathroom counters! Take everything that you can off the counters in your home. Buyers need to visualize what they can do with all that space.

D. Anyone who has watched HGTV has heard of home staging, right? Maybe not! Most REALTORS offer this service to their clients for a small fee. I can not express enough the value of having an independent, professional extra set of eyes on your home to help optimize the way it shows. In the case of my clients, I waive the fee for this service. Every one of my listings is professionally staged to lessen days on market.

3. What is your competition like?

All of this work will not do a thing for you if you are not aware of who and what you are competing against. Make sure you know what else is for sale in the neighborhood, how their home shows and how it compares to your home. Your REALTOR should not only share this information on a regular basis but take you to see the competition homes for yourself. Your home may show well, have all the updates and be priced well but what if John and Mary down the street have the same home, comparable updates and price but sit on a huge corner lot or back to a greenbelt? You need to be informed, not just before you list your home for sale but throughout the process.

Before you decide that your home is perfect as it is, give these ideas some thought. In any market, in any part of the country, these are important and relevant ideas to consider when selling your home. Be sure your REALTOR is knowledgeable about the part of town you reside in and ask questions. You deserve a true consultant when paying as much as you are to sell your home!

I like to educate! If I can be of assistance please let me know. You can reach me via the following site: http://dawnrose.yourkwagent.com/atj/user/ContactUsGetAction.do.

Till next time,

Dawn