By Tom Branch, on December 26th, 2013  We often field phone calls from people relocating to the North Dallas area looking for homes with basements. While some are relocating from areas with basements, many are concerned about tornados. While there are a few older homes with basements, there are also homes that have a storm cellar or shelter. These are primarily found in the rural areas, but we do see them in the suburban and urban areas as well.
According to CBS News the odds of a strong tornado hitting your home directly are extremely small. You can expect it to happen about once in every 8,000 years.
Storm shelters can be added to any home. Some are installed below ground and others are steel boxes that are engineered to withstand large tornados. We checked with a few local installers and found that prices start at about $7500 and go up depending upon the size of the shelter and how it will be installed on the property.
Click here to see all homes for sale in North Dallas with storm shelters.
Contact us at 214-227-6626 if you have questions or need additional information.
Photo: Licensed from iStockPhoto
By Tom Branch, on September 30th, 2012 
We’ve been talking about the lack of housing inventory for the past six months. We have a huge demand for houses and the ones on the market that are properly prepared, priced, and show-ready are under contract in a matter of weeks (in a few days below $200k).
The question we get asked the most is “why” is this happening.
It’s simple math! Take a look at the chart above–over the past 12 months we seen new listings rise 2 percent, yet closed sales are up over 17 percent. There’s more good news. Days on Market has dropped from 95 days to 71 days and the average sales price is up 2.5 percent over last year. Even more significant is the Months of Supply which is down 36.8 percent to just 3.4 months.
What’s the take-a-way for home sellers and buyers?
If you are looking to sell, this is the best time in years. Selling now allows you to move up or move down taking advantage of the market condition not only in selling but also allows you to take advantage of the historic low mortgage interest rates.
If you’re looking to buy, you need to move quickly. Gone are the days of searching for months and coming back to see how much prices have been reduced. Wait a few weeks and the house will be under contract. The same is true for making low offers just to see what happens. We’re seeing multiple offer situations on many houses.
Looking to sell or buy a home in the North Texas area? Click here to search for homes for sale in north Texas.
Contact us at 214-227-6626 if you need more information or want to work with an award-winning real estate team in the north Dallas suburbs.
Photo licensed from ShutterStock | Chart created by the Collin County Association of REALTORs
By Tom Branch, on September 23rd, 2012  It’s been a crazy year so far in the north Dallas real estate market. Buyers are out in droves and homes are flying off the market. The bad news for buyers is there are very few homes available in some areas and the ones that are properly priced, prepared, and show-ready are under contract in days.
This is fantastic news for potential sellers! With low inventory and lots of willing buyers, this may be one of the best times in years to list and sell their homes. Even better news is that homes are selling for close to list price and in many cases for more than list price.
Many sellers believe that the spring may be the best time to list and sell, but selling now may actually be a better time given the market conditions and low inventory.
Thinking about selling? Click here to find out what your home may be worth.
Please contact us at 214-227-6626 if you have any questions.
Photo licensed from iStockPhoto
By Tom Branch, on August 31st, 2012  As the Texas summer gives way to cooler fall temperatures, the North Dallas real estate market is staying hot, hot, hot!
The average Days on Market for properties under $500k is down to just 71 days–a level we have not seen locally since 2005. We listed a property in west Allen on Friday and had seven offers by Monday.
Last year we were telling sellers that it was a price war and a beauty contest. While pricing is less of an issue this year (as long as it’s not above market value), it’s still a beauty contest. Properly prepared and show-ready homes are flying off the market in days.
This is a great time to sell a home. There are plenty of buyers looking for homes and with a short supply of inventory, buyers are “all over” a good-looking property.
We have many resources on our website:
Home Value Request – What’s my home worth?
Seller Tips
Are You Show Ready?
Looking for an experienced team of agents with a proven track-record to sell your home? Click here.
Feel free to contact us if you have questions or need more information.
Base Photo Licensed from iStockPhoto
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
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