Melissa Hailey, Collin County Realtor Lucas, Murphy, Plano, Parker, Sachse

A Seller’s Sad Story

Several months ago we listed a home for sale. At the time, I asked the sellers if they had looked into the possibility of any repairs needed that I might not be aware of. The sellers assured me that their home was “fine” and that they would be happy to cross that bridge when/if we came to it (meaning they would let a buyer find any issues during their home inspection, and then address them at that time). So, we listed the home for sale.

Fast forward 8 weeks – after a ton of showings on their home, we get an offer from a buyer. The sellers are so excited. We go through the inspection process, and guess what…there is a foundation issue. In fact the buyers didn’t even ask to have it repaired; they simply terminated their offer and bought a different home.

Of course the sellers are now aware of an issue so they have the foundation company out to do the repairs. At the conclusion of the repairs, the plumbing test is done…but there’s still a leak. So we run more tests – and make more repairs – and test again…but there’s still a leak. So we run more tests – and make more repairs – and test again…but there’s still a leak. So we run more tests – and make more repairs – and test again…but there’s still a leak. FINALLY, we get the last leak fixed and we are ready to go. However, it took approximately 3 months to get all of the repairs done.

AT THIS POINT WE HAVE SPENT MORE TIME OFF THE MARKET THAN WE SPENT HAVING SHOWINGS…BECAUSE THE SELLER DIDN’T WANT TO CHECK INTO THE POTENTIAL PROBLEM BEFORE LISTING THE HOME.

I do understand that in today’s economy people don’t want to spend a ton of money making repairs to a home they are going to sell. However, in today’s real estate market you have to be competitive and your home has to be in tip-top shape if you want to sell for top dollar. In this case, the sellers not only had to spend the money anyway…but they lost a buyer and delayed their entire moving process by several months. The sellers have been on an emotional roller coaster for months.

The good news is that we did the repairs, and that we did sell the home. The new owners are excited to get a warranty on the work that was done, and they love their new home. The home sellers found their dream home and have relocated. In the end, it all worked out.

The morale of the story is:
Take the time to really evaluate your home prior to putting it up for sale. Consider having a home inspection done and making repairs before anyone even knows you are selling. Listen to the advice of your real estate professional, they are not emotionally attached and they understand the reality of the current real estate market in your area. If you address the problems up front it will save you so much time and trouble in the long-run.

Did you wait until the last minute to get that special someone a gift? If so, here are a few ideas that could help save the day.

Flowers - traditional gift, easy to find
As I drove around town today, I noticed several men had roses in the front passenger seat of their cars. This is one of those gifts that should usually be picked up on the actual day, so no one has to know that you were unprepared. (maybe that's why it's so popular). Of course, you can get a great boquet at many local grocery stores, or you may want to try a local florist shop like Wylie Flower and Gifts on Ballard Street in Downtown Wylie. You may want to call them first at 972-442-5873.

Chocolates - traditional gift, easy to find
If your sweetheart is on a diet, this is not the recommended gift item. However, most people really enjoy savoring the sweet taste of chocolate. Again, you can pick up a box of chocolates at a local grocery store or even a drug store - but you may want to try something special from the Say It With Sugar bakery in Downtown Wylie TX. Say It With Sugar even has some sugar-free items. Call them at 972-442-3613 and get there before they close at 6pm today.

Fine Dining - traditional, plenty of choices on locations
Of course you can try to get a last minute reservation at one of the area steakhouses like Bob's Steak and Chop House in Plano, or the Silver Fox Steakhouse in Richardson, buy your best bet may be to head over to Firewheel Town Centre and try Houlihan's or Gloria's Mexican Restaurant. While you are at Firewheel Town Centre you can also stop in to one of the stores for a gift!

Jewelry - traditional, more expensive
If you didn't propose to your sweetheart this Valentine's Day you may not have considered buying jewelry. However, there are some great pieces of jewelry available from rings to watches and everything in between.

Bath & Body Products - less traditional, less expensive
If you need a gift quick, but don't have alot to spend, then try something special from Bath and Body Works. They have plenty of choices for scented soaps, lotions and oils. Maybe you can pair this gift with a personal massage from you...what a great gift idea that doesn't cost alot.

Homemade meal - traditional, less expensive
Sometimes the homemade gifts are the best of all. Find a new recipe and make it together with someone that you love. Then spend the evening talking and enjoying each other's company instead of watching TV. Spend quality time with them and show that you care....it doesn't cost a thing.

Whatever you do for Valentines Day, make sure that you keep love and kindness at the center of it. Today is a day to go out of your way to show people that you care about them. Your Valentine may be your spouse, boy or girl friend, your children, or a dear friend. Whoever it is, let them know that you care. You might even start a tradition that lasts past February 14th.

Happy Valentine's Day!

What happened in Wylie TX – January 2012

Happy New Year to everyone! Here’s a recap of what the real estate market in Wylie TX was doing in January 2012.

Homes priced $0 - $200k – 24 homes sold and closed in January 2012. Of these 24 homes sold; only 7 of them were priced over $150,000. The average timeframe to sell was 104 days. This means that homes in the lower price points are MOVING!

Homes priced $201k - $300k - 16 homes sold and closed in January 2012. The average sales price was $235,000 and the average timeframe to sell was 133 days.

As buyers begin looking at homes to purchase, they currently have a good selection to choose from! Buyers are also still getting loans locked in with 4% or less interest for 30-yr fixed. There are 132 homes for sale under $200,000 in the Wylie area. There are 88 homes to choose from between $200k-$300k. No matter what you are looking for, we can find it for you.

Here is some great information about the changes that have taken place in Texas regarding Residential Homestead Exemptions. This is a very big change from the past, and it affects all counties in the state of Texas. These changes affect every home sale on or after January 1, 2012. If you live in Texas, you need to know this information before you purchase your next home.

If you need further information about these changes, or would like to speak with a real estate professional about buying a home in the Dallas/Fort Worth & Collin County areas, please visit our website at http://www.NorthTexasTopTeam.com. We are here to provide professional advice throughout the home buying process.

According to the latest National Association of Realtors “Profile of Home Buyers and Sellers” 89% of buyers purchased their home with the help of a real estate agent or broker.

Why do today's buyers choose to work with an agent? Here are a few great reasons to work with a Realtor:

1. Realtors are licensed professionals. They have the education and experience to help you navigate what will be one of the biggest purchases of your life.

2. Realtors have experience. Not only do they complete coursework prior to obtaining a license, they must complete continuing education annually. In fact, Texas has one of the most stringent education requirements across the country.

3. Realtors have access to homes. They have access to the Multiple Listing Service and can guide you to homes that meet your needs, and they can save you time and energy in your search.

4. Realtors know the market. They can help you answer questions such as: is now really a good time to buy? What is the average sales price in this area? Are prices still dropping in this neighborhood? How long do homes stay on the market?

5. Realtors have information. They know the neighborhoods, the schools, and they can explain information about Home Owner Associations, Property Taxes, Title Insurance, and more.

6. Realtors know the market challenges. They can help you work through complicated transactions such as short sales or foreclosure sales. There are additional contract forms and information that you will need to work through a complicated transaction such as these.

Realtors can simplify the home buying process by setting up showings, driving you to appointments if needed, and helping you handle the intricacies of negotiations. There is usually no cost to buyers for this service. Realtors ease the burden of selling by providing comparable sales data, giving advice on presentation of the home, and providing full time marketing efforts.

If you are considering buying a home this year, be sure to strongly consider using a real estate agent. You will be glad that you did!