North Texas Real Estate Blog

Dec. 1, 2019

iBuyer Beware

The Cost of Convenience

What is an iBuyer?

An iBuyer, or Instant Buyer, is an investor or an investment company that uses technology to make an offer on a home instantly. They pay cash for the home and close quickly.  The iBuyer program has gained a lot of momentum lately. They offer a simpler and more convenient alternative to the traditional home sale. 

Who are the iBuyers?

The iBuyer market has gotten crowded recently - that only happens when the idea is successful. You may recognize some of the more prominent players: Opendoor, OfferPad, Zillow, Perch, etc. These companies purchase homes directly from the seller, make repairs and necessary updates, and then turn around and sell the houses for a profit.

iBuyers only work in a few select markets. Markets must be active for them to be successful. They also put restrictive parameters on the homes that they will buy. These restrictions are on the size and age of the house. They also enforce a price-limiting window; like nothing over $400,000 in DFW.

How does the iBuying Process Work?

The process is relatively simple. A homeowner requests an offer from the iBuyer. The iBuyer estimates the value of the home and makes an "instant" offer. If the homeowner accepts the offer, the iBuyer has the home inspected and comes back to the seller with further demand for money to cover repairs.  If the seller accepts everything, the closing is scheduled and completed in the desired timeframe. 

Sellers find that these iBuyer programs offer prices are lower than traditional home sales and that the fees and expenses are higher. This is the price the seller pays for the convenience. The iBuyer is in business to make money. They will make a profit on the home.

Why would someone use an iBuyer?

So why would a seller choose to sell through an iBuyer program? Often homeowners are unable to make a house ready for market. They struggle with an elderly parent or sick family member that makes leaving home for a showing impossible. Some cannot handle the stress of having their house "show ready" or need to sell quickly to settle an estate. Whatever the reason, these are people willing to leave a lot of money on the table in trade for the convenience.

Want to know more?

How can I help? Glad you asked. Keller Williams has partnered with Offer Pad to help our clients decide. Our program, called Keller Offers, is available in our market. As a certified Keller Offers agent, I can bring you an offer before you decide to list your home. We can compare this offer against other iBuyer programs as well as the traditional sale of your house. Armed with all the data you need, you can make an informed and qualified decision on the best way to get your home sold.

How do the iBuyer offers stack up??

Here is a real-world example. 

Posted in Selling a Home
Nov. 7, 2019

Big News!

It’s true!

Teams take advantage of individual strengths to accomplish magnificent results.

Individual Strengths

For the past 7 years, I have been using my strength of management and organization to create my Process-Perfected real estate system.

Team Results

I keep an eye on what others in my industry are doing, and I couldn’t help but notice Pam Heinrich. She has a very similar system called “Smooth Moves” and pays as much attention to detail as I do. She has been in business for over 8 years.

The Pam Heinrich Home Team is one of the highest performing teams in Collin county!

📢📢📢Announcment! 📢📢📢

This is why today, I am thrilled to announce that I have teamed up with Pam and am now part of the Heinrich Home Team.

This merger allows us to serve our clients better. I have hit the ground running with this new team, and I couldn’t be happier. Pam and I are an unstoppable team!

Who do you know that is looking to buy or sell a home in the next few months? Let them know about the powerhouse that is the Heinrich Home Team!

Meet The Team!

 

Oct. 17, 2019

Nerd Alert - The Numbers Are In!

3rd Quarter 2019

Real Estate Statistics For 3rd Quarter 2019

Quarterly stats are here - and you know I like to "geek out" on this stuff!

 

What do the numbers mean for YOU and YOUR biggest investment? 🤓


Below is a quick snapshot of the real estate market for Collin County….

End of 3rd Quarter Market Stats:

👉Homes for sale was at 4450, ⬇️ 10% from last year.

👉Months supply of inventory is 3.35, ⬇️ 4% from last year. 

👉Average days on market ended at 58 days⬆️ 21%.

👉Average Sales Price in Collin County was $372,755⬆️ 2%.


 

2019 Year to Date Stats Compared to 2018:

👉New listings are ⬇️ 1.5%.

👉Closed/sold homes is ⬆️ .5%.

👉Average sales price is ⬆️ 2.2%.

👉Days on market is ⬆️ 27.7% 

​​

 

Every area is different so if you know someone who is thinking of making a move this 🍂fall, give me a shout and I’d be happy to do a detailed report for their specific neighborhood and price range.

Oct. 1, 2019

Looking For Something New?

🏘️Search New Construction Homes in DFW 

Are you wanting a new construction home but are unsure where to find it? This website lets you search for new construction by city, zip code, school district, price, etc. 

⏲️ Before You Get Out There...

Let me stress to you how important it is to have a REALTOR® assist you when buying a new home. The sales consultant in the model home represents the builder - not the buyer. Make sure you are making a sound investment - let the builder know that I represent you. Do this at the very first visit you have at a model!

👇Start Here: 

You can search right from this website! Just enter your criteria below and check out all the latest new construction homes around.

 

Posted in Buying a Home
Sept. 19, 2019

Where Are You Going?

The Conundrum

Not sure if you should buy or rent? Are you confused about whether or not you should refinance your loan? Maybe you are trying to determine if you should downsize your home. Would you be better off buying a rental property or paying off your mortgage? Is it better to buy an existing home or build a new one?

Real estate matters can be daunting, and making the right decision is critical with one of the most significant investments you make.

The Solution

You need a dedicated REALTOR® on your side. Don't go it alone. Enlist a trusted resource to guide you along. My expertise is backed by the largest, most admired brokerage in the business. Let me help you navigate to success in real estate!

Aug. 29, 2019

September Changes In Real Estate

 

The Only Thing Constant Is Change

There are two significant changes taking place in the real estate industry this month.

One will save you money, and one will cost you some money.

Sadly, you will pay more than you will save with these changes!

Changes to Homeowner's Insurance Deductible Payments on Roof Replacement.

Starting September 1, the new Texas House Bill 2102 goes into effect. This bill is designed to curb the abuses by the roofing industry of covering the homeowner's deductible by absorbing or rebating that money as part of the contract to replace the roof.

Insurance companies now require proof of payment of the deductible before they will pay off the holdback on an insurance claim.

The law will help reputable roofing contractors compete and do the right thing. It will also protect consumers from the predatory businesses that have been skirting around the law for years. When making repairs to your roof you need to ensure the following:

  • Repairs are done correctly
  • Repairs are completed by a local company
  • Repairs are covered by a transferable warranty

However, this new law will hurt homeowners who do not routinely hold back an emergency fund for such purposes. Thankfully I have met with several roofing companies that are already addressing this issue. They have worked out programs to help consumers finance the deductible.  When you have a 2% deductible on a $500,000 home, it will be hard to fork out that $10,000 per claim. 

Changes to Texas Title Insurance Rates

The other change happening in the industry this month is a change to Texas Title rates. Title insurance is taken out with every home purchase. The seller usually pays for this product.

The Texas Commissioner of Insurance issued the rate change earlier this year. Get this! The rates are going DOWN.

Many factors influenced this decision, but leading the way was the increase in home values. It is an excellent indicator of the strength of the Texas economy. It is also a welcome change for many sellers. Take a look at the new rates here

 

Aug. 14, 2019

How To Live By Your Target School

Welcome Back To School!

As many communities in the North Texas area are headed back to school this week and next; I wanted to put out a reminder about some of my previous posts on our local schools. 

Additionally, if you are looking to search for homes for sale by school or school district, check out my Collin schools page. You can also search by other school districts and schools, using my Advanced Search

Our Schools Are Some Of The Best In Texas

We have some of the best schools in the state. I run into folks daily who are targeting specific schools in their home search. Check out this article from last year about our top-ranked elementary schools. 

This year the Texas Education Agency rolled out the report card rating system on our schools. This website is a great way to research schools. 

Each Scool District Has Distinct Advantages

I love all that our area school districts have to offer. Check out this article that will help you break down some of the differences in some of our larger districts.  

How Can We Help You? 

Give me a call if you need help setting up your specialized school search. I am here to help! Have a great school year.

 

Aug. 5, 2019

Links Galore!

Home-Trend Social Media Influencers

 

As a real estate professional, one of the many ways I keep up with home trends is by following top designers on social media along with other accounts that help with day to day home ownership.


I like to follow both local and national trends as you will see from the list.

 

Below is a list of some of my favorite “Influencers” on social media when it comes to home decor, building trendshome organization hacks and more. Click on the links to see the greatness!

 

Home & Design Trends:

⭐️Houzz Ideabooks

⭐️Home-ol-o-gy in McKinney

⭐️Gray Malin on Instagram

⭐️Bonnie Tsang on Pinterest

⭐️Stephanie Kratz from Carrollton

 

Home Organization:

⭐️Styled&Organized in Plano

⭐️Concierge @ Your Door from Frisco

⭐️RealSimple's Organizing on Pinterest

⭐️Neatly Designed on the web

 

Leave a comment below and let me know who you like to follow.

 

July 16, 2019

The Numbers Are In!

Second Quarter 2019 Real Estate Market

We Are Halfway Through 2019

The numbers are in! That is right - the end of June marks the end of the first half of 2019. It is hard to believe this year is halfway over. Time flies when you are selling homes.

What's the market like?

Lately, people have been remarking about how many homes they see for sale in their neighborhood. Real estate activity always picks up in the summer. However, this summer, the days on market indicator has jumped way past the point it was at this same time last year. Inventory is high, and demand has waned. In spite of the high inventory, prices held steady.

Take a look at the video below where I discuss the market and dropping interest rates with loan officer, Anthony Patton.

Text Anthony Patton for mortgage or interest rate questions: 214-226-0885 

Buyer's Market? Seller's Market? Balanced Market?

In a nutshell, we are experiencing a balanced market. I like the market this way as both buyers and sellers can benefit. 

 

 

 

Hyper-Local Matters!

Of course, every area is different - and hyper-local matters! So if you would like a detailed report for your specific neighborhood, contact me, and I will get a similar statement to you specific to your location.

July 2, 2019

Hot Fun In The Summertime

Three Great Summer Activities

One month down and just one and a half to go! Summer will be over before we know it. If you are wondering what to do with your remaining time, then check out some of my favorite picks for area summer activities.

There are so many fun choices all over the metroplex, but I narrowed it down to my favorite three. Then I threw in an alternate! Let's go!

1. Family Fun Fridays at the Arboretum

Summers at The Arboretum are splendid. The current feature is the Gary Lee Price "Celebrate the Children" exhibit of sculptures. These sculptures are so much fun to see. Be sure to check out Family Fun Fridays going on now through July 28th. There will be a petting zoo and face painting as well as other family fun activities.

2. 24th Annual Killis Melton's Ice Cream Crank-Off

On July 21st you won't want to miss the annual Ice Cream Crank-Off in downtown McKinney at Chestnut Square. Celebrate National Ice Cream Day bigly! There will be plenty of food vendors and TONS of ice cream. Also on the agenda are pony rides, face painting, balloon art, and a magic show. 

3. LIVE 80 - Ultimate 80's Experience

The third item on my list of summer fun is the LIVE 80 - Ultimate 80's Experience at Legacy Food Hall Box Garden on August 16th. The concert is a free event and a great excuse to check out all the food vendors at Legacy Hall. My current favorite food stall is the Shwarma Bar   

Indoor Alternate - Dior: From Paris To The World

Now if you are not one that enjoys the heat of the Texas summer, then I have a fantastic indoor activity for you. Check out a Day With Dior at the Dallas Museum of Art. On July 19th you can stay late and watch the film "Dior and I" (The film is rated R)

Now that I have shared my favorite picks let me know your favorite summer activities.

 

Posted in Around Town