By Tom Branch, on April 23rd, 2012  Like many real estate professionals, I typically wear my name tag or some other logo apparel when I’m out and about. When people notice it, the opening question is usually, “How’s the market?” My answer these days is, “Hot!” Homes under $200k are flying off the market almost as fast as we can get them listed.
We listed seven properties in April–four of them are already under contract. As soon as a properly prepared, priced, and marketed property hits the market, the showings start and we have multiple offers in days.
Preparation, pricing, and marketing are the keys to generating traffic and emotional appeal.
As part of our pre-listing work we often recommend punch-out items and staging of the home. While punch-out costs vary with the amount of work to be done, it averages about $500. A couple of hours with a professional stager costs about $200. This is money well-spent and will be far less than your first price reduction.
Pricing is also important. Homes that are properly prepared will bring a higher sales price but homes that are more than 5 percent over market value tend to languish on the market. Price it right up-front.
Marketing is the final ingredient. Now that the house is prepared and priced right, it has to be well marketed. We use professional photography in all our listings. With over 90 percent of local buyers starting on the Internet, quality photography and well-written marketing text is critical to driving buyers into the home.
There has not been a better time to sell a home in the past 3-plus years!
If you’re looking for a professional team to sell your home in the North Dallas Suburbs, contact us at 214-227-6626.
Base Photo Used With Permission
By Tom Branch, on April 15th, 2012  “It’s a buyer’s market”, I hear those words at least once a week. They are usually accompanied by some low offer on one of our listings.
Newsflash! With the exception of homes over $500k, the buyer’s market in the North Dallas area is over. Properties that show well and are correctly priced are flying off the market. Many of our recent listings have fully executed contracts in less that 5 days. As a listing broker, it’s been nice to see the market shift back.
Recent numbers from the North Texas Real Estate Information System (NTREIS), the MLS in North Texas, show that we have about 4.1 months of inventory. For reference, the National Association of REALTORS® states that a 6 month inventory of homes is a balanced market. Levels above 6 months are a buyer’s market while levels below 6 months are a seller’s market.
If you’re a seller wanting to move this may be the best time in years to sell and be able to purchase a new home. Home prices are stable and interest rates are still at record lows.
If you’re a buyer, you simply cannot drag your feet or lob in low offers. If you do so, you may find the property is under contract or sold to a more reasonable offer.
Want more information on the housing market in Dallas? Contact us at 214-705-2470.
Photo licensed from iStockPhoto
By Tom Branch, on March 19th, 2012 
The past couple of months has seen the housing market in Allen Texas come alive. Homes that are properly prepared, show-ready, and priced right are going under contract in days.
We were out working with a first-time home buyer this weekend. We found a great home that had been on the market for a couple of days. By the time we scheduled a second-showing, the property was under contract. We’ve seen this time and time again.
Our advice for buyers is to watch the market daily for new listings. Sites like this one are updated daily. If you find a property, call your agent right away to schedule a showing. If you wait a couple of days the home will likely be under contract.
Click here to see all Allen Texas Homes For Sale.
If you are thinking about selling your Allen Texas home, now may be the perfect time to do so and get top-dollar for it.
Looking for an experienced local real estate team to help you buy or sell your home? Contact us at 214-227-6626.
Photo Copyright 2011 Imaged2Sell
By Tom Branch, on January 21st, 2012 
Over the past couple of months we’ve seen lots of first-time homebuyers entering the market. They are enthusiastic, pre-approved, and ready to buy a home. The problem is a general lack of good homes under $150k.
Gina and I are currently working with four first-time home buyers looking in the Allen Texas area and we have only been able to find one of them a home. Don’t get us wrong, there are homes on the market in this price range, but the vast majority of them are foreclosures, short sales, or are in poor condition.
If you are a home buyer, you need to move quickly when you find a home to view. You simply cannot wait because the good homes are moving quickly. Homebuyers can click here to sign up for home alerts on The Branch Team website. This free service sends you an alert as new homes come on the market that meet your needs.
If you are considering selling your home this may be a great time to list it as homes that show well and are priced right are going quickly. Further, plenty of qualified buyers and low inventories present an opportunity to sell quickly. While prices are down in some areas, Collin County and DFW in general have weathered the storm well. Click here to read “Internet Marketing – The New Curb Appeal” and click here to read “Are You Show Ready?“
Please feel free to contact us at 214-705-2470 if you have questions or need help buying or selling a home.
Photo licensed from iStockPhoto
By Tom Branch, on December 31st, 2011 
Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:
Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.
The housing market is Fairview is very stable. This month we’ll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.
Median Sales Price
The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview. In November 201 the median sales price was $279,995 and it has risen to $307,900–a gain of 10 percent.
Days on Market
The Days on Market in Fairview remain stable at about 118 days. While this is slightly over the average in the local area, 118 days on market is still very good considering the higher price points in Fairview.
Months Supply of Housing
The months supply of housing is slightly over 7.9 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller’s market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area. Fairview had an 8.3 month supply of housing in November 2010. It sits at 7.9 months now–a decrease of 4.2 percent.
Feel free to contact us if you have questions or need any additonal information.
Photo: Copyright 2011 – Tom Branch | Source: NTREIS on December 30, 2011
By Tom Branch, on December 30th, 2011 
Allen Texas, located just north of Dallas, is a great little city and a wonderful place to live. The city continues to grow with plenty of developement–both residential and commercial.
The Allen housing market has been relatively stable. This month we’ll take a look at Median Sales Price, Days on Market, and Months Supply of Housing.
Median Sales Price
The Median Sales Price, which had been on the rise for almost a year, retreated some over the past few months. It appears to have stabilkized over the past month. Allen started the year at $196,475 and is now at $201,000. While .5 percent is not a huge increase, it is stable.
Days on Market
Days on Market has been on the rise for the past year yet remains below 90 days and below 2009 and 2010 levels. Allen started at 77 days on market and has risen to 82 days on market.
Months Supply of Housing
The Months Supply of Housing is very good at 4.4 months of inventory currently on the market. The National Association of REALTORS® suggests that a 6-month supply of housing is a balanced market. Supplies over 6 months indicate a buyer’s market and supplies less than 6 months indicate a seller market. Our experience is that homes that show well and are priced right continue to sell.
Please contact us at 214-227-6626 if you have any questions or want more information.
Source: NTREIS on December 29, 2011 | Photo: Copyright 2011 Tom Branch
By Tom Branch, on December 27th, 2011 As 2011 gives way to 2012, it’s time to take a look at the housing market in Plano, Texas, ZIP Code 75025.
75025 is the north, central part of the city of Plano. It looks like a large letter L with State Highway 121 on the north, Coit Road on the west, Legacy on south. The south leg runs all the way to US 75, then north to Hedgcoxe, West to Custer, and north to meet with State Highway 121 again.
2011 appears to have been a very stable year for the area. Let’s look at three charts: median sales price, average days on market, and new listings. You can click on any of the graphs for larger views.
Median Sales Price
The graphs are broken out into four price ranges. It’s been a flat year in the market for the lower three price ranges. Homes above $290k saw a 10.3 percent decrease in value. Overall home prices are down about 4.1 percent from this time in 2010.
Average Days On Market
This chart really helps you to understand why the median sales price was down for home above $290k. The average days on market for these homes spiked to almost 330 days in the spring of 2011. The good news is the market was finally able to absorb the inventory and the days on market settled back down.
New Listings
The decrease in new listings has been one of the primary reasons the housing market in 75025 has remained relatively stable. While demand is down, the supply of new listings is down as well. The lack of an over-supply of housing has been a good thing for homeowners.
We have access to data for the entire Dallas Fort Worth Metroplex. Please contact us at 214-705-2470 if you have questions or need additional information.
Source: NTREIS on December 27, 2011
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Like many real estate professionals, I typically wear my name tag or some other logo apparel when I’m out and about. When people notice it, the opening question is usually, “How’s the market?” My answer these days is, “Hot!” Homes under $200k are flying off the market almost as fast as we can get them listed.
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