It doesn’t matter if you are buying your first Dallas home or are a veteran home buyer, you will have list of ‘wants’ and ‘needs’ for your new Dallas home. The ‘wants’ are things that would be nice to have such as a gas fireplace or granite counters. The ‘needs’ are things like, well a ‘bathroom’ or the number of bedrooms to suit your family. It is rare that you will get all your ‘wants’ and needs’ in the home you buy.
The key to maximizing your Dallas home investment today is distinguishing between the types of ‘wants’ and ‘needs’ you’re better off buying as part of the property, and those you could add later without too much trouble and expense. Here’s some information to help you prioritize the amenities on your list.
Location:
Location is the one thing you can’t change about a property. Location is about being in a desirable neighborhood and close to (but not necessarily next to) valued amenities or planned ones — employment opportunities, good schools, shopping, public transportation, major highways, parks and recreation, cultural activities, etc. A good location is also about not being on a high-traffic street, near noise, next to run-down properties, in a flood plain, etc.
Structural integrity:
Make sure the Dallas home you buy doesn’t come with a cracked foundation, pest infestation, drainage issues, mold or other problems that may be difficult and expensive to correct. A home inspection will help you determine if these items are an issue.
Size:
The size of a home is important, especially if you’re just starting to raise a family. You don’t want to buy a home that is perfect for the two of you, knowing you want children in the next couple of years and making the home you buy too small.
It’s easier and less expensive to reconfigure existing space (turning a basement into a family room or a garage into a bedroom, for example) than to build an addition. And, you can only add that addition if yard size and zoning restrictions allow.
Bathrooms:
It is significantly more cost effective to remodel a bathroom than to add one, so look for a home that has the number of bathrooms you really want.
Bedrooms:
Find a home with at least the minimum number of bedrooms you require, but with space (perhaps an attic or enclosed porch) that could eventually be converted to a bedroom should you need another one in the future.
Cosmetics:
Although a neon pink bathroom might make you cringe, that’s exactly the type of problem you can easily and inexpensively correct. You could repaint it yourself for around $50, or hire someone else to do it for a few hundred more.
Other items:
You can change — or add — over time without too much effort or cost: carpeting, landscaping, appliances, hardware and fixtures, lighting, countertops, cabinets, upgraded doors, vanities, closet space, siding, windows and lots more.
Buy a Dallas home with “good bones” in a good location. A home you’re likely to enjoy living in for many years to come — improving as you go. When you get ready to sell, you’ll have exactly what other buyers are looking for!
Learn more about buying a Dallas home by visiting TexasHomeCentral.com.
In today's real estate market, Dallas home owners trying to sell on their own get discouraged when it comes to getting their Dallas homes sold. What they may not realize is that in the modern market selling a home takes a lot more than just sticking a "for sale" sign in the front yard. Traditional real estate marketing tactics have evolved into a variety of more complex and effective strategies. The internet has become the most popular and successful aid in setting up successful home-selling campaigns.
According to the National Association of Realtors, almost 90% of home buyers do their house hunting online. The fact that the internet is taking over many traditional methods, makes it imperative for [city] home owners to move their campaigns to the web. Consumers are becoming more independent in the home buying process, relying on the internet for real estate market information and shopping for their perfect home. The quantity of home buyers who ended up purchasing a home they found using the Internet has significantly increased from only 8% in 2001 to a soaring 32% in 2008. However, buyers only account for half of the real estate equation that results in using the internet.
Sellers are relying on the internet to create effective online selling campaigns that catch the mouse click of potential buyers. Whether selling by owner or using a real estate agent, anyone trying to attract the attention of a buyer for their Dallas home should take full advantage of online marketing strategies. Listing agents advertise client's homes on their company websites, the Multiple Listing Service and Realtor.com, and by other professional tools. Home owners choosing the for sale by owner route or just simply looking for more ways to expose their home on the market, now have access to many of the same professional tools real estate agents use and more. For example ForSaleByOwner.com now allows their clients to list their homes on the Multiple Listing Service and Realtor.com too. In addition, homes are also popularly advertised on websites such as, Craigslist, Google Base, Yahoo Real Estate, and Facebook.
Regardless of who is selling your Dallas home, it is important to establish and maintain a successful home-selling Internet campaign. Here are a few tips to get you on the right track:
Learn how my marketing strategies can get your Dallas home sold in a shorter period of time and for more money by visiting TexasHomeCentral.com.
In today's rapidly changing economy, many Dallas home owners wonder or worry about selling their home for the best price, and terms in the shortest period of time.
Here are 9 helpful hints if you are considering selling your Dallas home:
Learn more about selling your Dallas home by visiting TexasHomeCentral.com.
Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.Now let's take a look at Dallas real estate sales statistics for September 2009 to learn how our local real estate market is recovering.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.
Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month."
Dallas Real Estate Sales Statistics - Sept 2008
Number of Sales: 4,293
Average Sales Price: $203,900
Median Sales Price: $150,100
Homes on the Market: 27,406
Months of Inventory: 6.2
Dallas Real Estate Sales Statistics - Sept 2009
Number of Sales: 4,010
Average Sales Price: $201,700
Median Sales Price: $156,400
Homes on the Market: 22,979
Months of Inventory: 6.3
The number of Dallas homes sold in Sept 2009 was 283 less than in Sept 2008, a 7 percent decrease. The average sales price decreased by 1 percent or $2,200, while the median price increased 4 percent or $6,300. The months of inventory remained steady.
Many Dallas renters are finding that they get more ‘bang for their' buck if they buy a home rather than rent one. With affordable prices, low interest rates and tax incentives, Dallas home ownership makes more sense than ever.
7 Reasons to Buy Rather Than Rent Dallas Home
1. Buying doesn't always cost more.
The Associated Press reports the gap between buying and renting has decreased $550 in the last three years.
2. Affordability is at an all-time high.
Nationwide, prices have declined by nearly 20-40%.
3. Tax benefits for home ownership saves money.
The biggest tax break is the mortgage interest deduction. Most of your mortgage payment goes to interest which is tax deductible. Property taxes and mortgage insurance are also tax deductible.
4. Many loans require no down payment.
Veterans Administration (VA) loans and many first-time home owner loans don't require a down payment.
5. The Tax Credit.
First time homebuyers can take advantage of the $8000 tax credit...but only until Nov 20, 2009. The tax credit can be used towards closing costs and the down payment.
6. Mortgage rates are at all-time lows.
Mortgage interest rates are the lowest we have seen in 30 years.
7. You own it.
There is nothing like pride of ownership...and you can do anything you want to do. You can paint it any color you want, make improvements, and landscape to your own taste..
For more information on owning a Dallas home, visit TexasHomeCentral.com.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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