The Homes for Sale Drought Continues

Dought with Nice SunsetWe often talk about the drought and subsequent watering restrictions in North Dallas. While many of nature’s problems are caused by a lack of rainfall and Zebra Mussels, the drought being faced by North Texas homebuyers is caused by a deep lack of homes for sale.

Properly prepared homes that are professionally marketed and priced right are flying off the market in days.

We were out working with a first-time home buyer yesterday and we found two homes they liked. One had been on the market for three days and had five offers, the other had been on the market for one day and had three offers. Our clients made an offer above list price and their offer was not the accepted offer!

What does this mean for North Texas homeowners?

This may be the perfect time to sell your home. Many of our sellers are “waiting until the Spring Sales Season” to go on the market but now may be a far better time. Low inventory and high demand create the perfect storm for home sellers. This is the opportunity to get a far better price in far less time than any time in the past five years.

Homes for sale still need to be properly prepared, professionally marketed, and priced right. Get all of this right and pack your bags!

Thinking about selling?  This is one of the best times in years. Want to know your home’s value? Click here to get a free market analysis.

Are you looking for an experienced listing team? The Branch Team was named a 2012 Residential Real Estate Top Producing Team by D Magazine. Contact us at 214-227-6626.

Tom and Gina Signatures

Photo licensed from iStockPhoto

What Happened To The Draperies?

Draperies in a HomeWhen we’re working with buyers, we always do a final walk-through of the home just prior to closing.

We do this for a number of reasons: to make sure any agreed to repairs have been completed, to see that the home is in the same condition as it was when the contract was executed (normal wear and tear is acceptable), and to make sure that items that were supposed to remain in the home are still there.

The items that seem to come up missing most often are the curtains and draperies.

When this happens it’s not usually a case of the sellers being dishonest, it’s that they were not made aware that the curtains and drapes are considered Accessories in the TREC Promulgated Contract and supposed to remain in the home.  If a seller wants to retain them, they should be listed as excluded items in the contract.

We hate walking into a home for that final walk-through and hearing the buyers say, “What happened to the draperies?” These last-minute surprises can be avoided with a clearer understanding of what’s in the contract.

Have questions about Texas Contracts? Click here to contact us or call 214-227-6626.

Tom and Gina Signatures

Photo Copyright 2013 Imaged2Sell

1609 Gladewater – Allen TX Home For Sale

1609 Gladewater Allen TX Home For Sale

5 Beds | 5.2 Baths | 5048 SF/Appraiser | 3 Car Garage | Game | Media | Study | $899,000

Serenity, nature, and ample amenities are all nestled in the Lexington neighborhood of the Twin Creeks master-planned community.  Extensive landscaping enhances curb appeal for an outstanding first impression.  With this Sanders custom home, all it takes is a glance across the back yard to find the Twin Creeks Golf Course, an Arnold Palmer Signature Course.

Intimate dinners can be enjoyed in the formal dining room, and the grand island is the focal point of the kitchen where guests can congregate while a meal is prepared. The chef’s kitchen boasts commercial appliances including a Wolf 6-burner gas cook top, dual ovens, and a 48-inch Sub-Zero refrigerator.   The open living room with hand-scraped oak floors and wood-burning fireplace can seat many, and the view of the golf course can’t be beat.

The luxurious downstairs master retreat overlooks the lush back yard and golf course. By the way, did you know waking up in the morning is a lot more pleasant when you can brew a cup of coffee in your private wet bar just steps from bed?  Relax and savor every sip as you prepare for the day in the spacious master bath with dual vanities, jetted tub, and separate shower.   Entertaining continues on the second floor in the game room with adjacent wet bar and media room for watching movies or television.  Guests and family can sleep in peace in one of multiple bedrooms, each with a private bath.

The tree-lined golf course view is a glorious sight to behold, either from the second floor balcony or while enjoying a calm evening on the covered back porch.  Zoned to Exemplary Evans Elementary, this is a classically elegant custom home for the most discerning buyer.

Virtual Tour

1609 Gladewater Allen Texas Home For Sale Virtual Tour


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Click here to see all homes for sale in Twin Creeks Allen Texas.

What to schedule a private showing or need more information? Contact us at 214-227-6626.

Tom and Gina Signatures

Photos licensed from Unique Exposure Photography

You Missed Your Chance to Steal!

You Missed Your Chance to Steal!One of my agents was out working in our Lexington Park sales office today. A potential buyer and his agent walked in to see one of our floor plans. After walking it, they “hated it.” We have several different townhomes available and so they were shown two other floor plans. They absolutely loved one of them. All seemed right with the world.

They walked back in the sales office and were discussing price. The model they like is just a little over $200k. They told my agent they wanted to purchase it for $150k! When asked why the offer was so low, they responded, “It’s a buyer’s market.” My agent politely told them that this was not going to happen and they went on their way.

Attention Buyers…You missed your chance to steal!

The buyer’s market in the greater Dallas area ended in January 2012. Prices have been on the way up and inventory levels are at record lows. Multiple offers are back as well.

The good news is that interest rates have remained low (they are creeping up) and you still have a chance to get a great home with low payments.

While you missed the bottom of the pricing cycle, you can still take advantage of the low interest rates to purchase a home.

Click here to search for homes for sale  in the North Dallas Suburbs.

Tom Branch, Broker

Photo licensed from iStockPhoto

Are HOA Management Companies Simply About The Money?

Greedy Business PersonI’ve been working with a seller for several months. She is battling Stage IV cancer and has moved to another city for treatment.  We listed her local home and quickly had a contract on it.

As part of the sales process, an HOA Resale Certificate had to be ordered from the HOA via the management company hired by the HOA to manage their day-to-day operations. Their “processing fee” for producing this document was $325.

This sale took a turn for the worse when the lender denied the buyer’s mortgage. This was not the lender’s fault but rather the fault of the buyer who refused to cooperate and provide documents required by the lender. Either way, we had to go back on the market.

We got the property under contract again and the sale is set for February 8th.

Yesterday I receive notice that the management company is turning my seller’s account over to collections on February 1st for non-payment of the processing fee.

I emailed the management company explaining the situation and received a curt response with the text of their agreement. Basically, the fee is due within 30 days of the sale or within 90 days of the request.

I understand the fine print but the seller is not in the area and battling cancer so I sent them back a note asking for an exception to their policy and letting them know that I would personally be responsible for the payment if the sale did not close on February 8th and the seller did not pay them.

This time a member of management responded with another curt response

“This notice was sent as a courtesy since it has been over 90 days, it has been almost 120 days we can only hold the order until February 1st after this day the account is no longer with us and it will be handled by NECS, the collection agency. As stated on our agreement on line, the requesting party is responsible to ensure payment is received within 90 days even is contract is terminated.”

I went ahead and paid the processing fee for my seller. I simply cannot allow this to go to collection and have an impact on a closing set for next week. The seller is under enough stress and does not need this over $325.

Legally the management company is within their rights to enforce the terms for receipt of their processing fee. Ethically, I find it hard to believe that the HOA and their management company would not be willing to work with a homeowner who pays her dues and is fighting for her life.

Are HOA Management Companies Simply About The Money?

Tom Branch, Broker, CDPE, SFR

Photo Licensed from iStockPhoto

Grand Opening – Quaker Steak and Lube – Plano TX

Quaker Steak and Lube, Plano TXGina and I attended a VIP Party and Ribbon Cutting for Quaker Steak and Lube last night. Located on the southeast corner of Parkwood and SH121, Quaker Steak and Lube is a unique sports bar.

They offer a LubeStation with over 20 different flavors of wings ranging from Ranch to Triple Atomic. I tried several different flavors and heat levels. Note to self…avoid the “insane” ones in the future!

Along with a full-service bar, they have a huge menu with salads, wings, sandwiches, hamburgers, appetizers, as well as steak and seafood.

If you’re looking for something new and different, stop in and give Quaker Steak and Lube a try.

Tom and Gina Signatures

Photo: Copyright 2013 – Tom Branch