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!
You can search right from this website! Just enter your criteria below and check out all the latest new construction homes around.
Real estate matters can be daunting, and making the right decision is critical with one of the most significant investments you make.
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!
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.
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.
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.
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.
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.
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.
Why are rental investments so popular in North Texas?
Real estate investing is one of the best ways to safeguard your future. This is true, especially in North Texas. Historically, our housing market is on the rise. When our housing market dips, it is usually a small dip followed by a recovery. Here is a snapshot of the Collin County market trends over the past 10 years.
Properties in the area are likely to increase in value over time.
Population growth is exploding in Collin and surrounding counties.
Corporations are flocking to the state to set up headquarters.
North Texas schools are some of the best in the country.
All of these are great reasons to buy and also to invest in homes in the region.
4 Great Benefits Of Owning Rental Property
Cash flow is the result of subtracting all expenses from income. The key to figuring out your cash flow is to understand ALL of your costs. Expenses on a rental can include mortgage, taxes, HOA dues, homeowner's insurance, repairs, capital expenditures, property management, supplies, vacancy rate, etc. The more money you put down on the home, the higher the cash flow potential you will realize. This is a great article on calculating cash flow for your rental.
Beyond cash flow, investors should consider property appreciation. While not always, generally speaking, housing values tend to appreciate over time. An investor in a rental property needs to make smart and efficient repairs and improvements to the home over time, keep the home maintained, and buy in a desirable location. This sets you up for the best chance of appreciation. Read more about this subject here.
By taking out a loan for an investment property, you can leverage your resources to own more properties. As long as you have carefully calculated your cash flow, you should realize a more substantial profit. These are some great articles showing how leverage works.
Landlords have a few tax advantages over regular homeowners. They get to deduct items such as interest, insurance, maintenance, and even depreciation over time as business write-offs. Read more about that here.
What makes a house the right candidate?
The property should be in a desirable location where plenty of potential renters live. The home should be priced well - not over-improved or under maintained. The rental should produce a beneficial return on your investment. This is another great article to help you find the right home.
When you are ready to get started on your next investment home, give me a call. We can get started right away.
The Texas Association of Realtors recently released the 2019 Texas Homebuyers and Sellers Report. It has some excellent data on the makeup of home buyers and home sellers in our great state. It also offers some great infographics on how we compare to national statistics.
The New vs. Preowned Debate
One area where Texans differ from the rest of the nation is in the purchase of a new home. The report states that 29% of homebuyers in Texas bought a new home compared to only 14% nationwide. I think the statistic makes sense given the population surge we've experienced in the last few years.
Motivation Behind The Decision To Build Or Buy Existing
The reasons why people purchased a new home or an existing home were fascinating. The study cites that the motivation for buying new construction is mostly to avoid renovations and repairs, amenities of new communities, customizing the design, and energy efficiency. In contrast, those buyers that purchased an existing home stated that value, price, and charm were the most significant deciding factors.
Of all my research on this topic, I found my old buddy Dave Ramsey with the best take on the debate of new versus existing. His pro/con list is spot-on.
Last year, I took the plunge and moved to a smaller home for the empty-nest phase of life. We debated new construction, but in the end, we opted for location and the charm of a pre-owned home in an established neighborhood. The only thing I wished I had in my new-old home is better energy efficiency. We will get there eventually with some new insulation and upgrades to the mechanicals as they age.
Looking For New Construction?
What about you? Are you a buy-new kind of Texan? If so, I have an outstanding resource for you. You can view all of the new home sites in one place with this great tool. Give it a try!
Finding A Great Pre-owned Home To Suit Your Needs
If you are a pre-owned kind of Texan, then use my Advanced search feature to see all the homes available within your custom parameters.
Ready To Buy?
Whether it is new construction or an existing home, I have all the tools and resources to keep you on track, on budget, and on time. I can make your Texas home dreams come true! Give me a call today.