Do I Really Need a Realtor to Purchase a New Construction Home?

Do I Really Need a Realtor to Purchase a New Construction Home?

Did you know that Dallas-Fort Worth actually leads the nation in the number of new houses being built? This is a result of the influx of all the new workers for Toyota, JPMorgan Chase, Liberty Mutual, Raytheon and so on and so on. Builders are helping out our inventory by ramping up their construction. With so many builders, one may ask “Do I need a Realtor to purchase a new home?” And the answer is YES!

Builders have sales reps, can’t they help me?
The answer is yes they can help you BUT there is a huge difference. Builder sales reps represent the builder as they are contractually obligated to do. The sales rep can help explain the different floorplans, elevations, lots available, upgrades, specials, etc. Realtors are trusted resources and can help you navigate between the different builders and the complexity of the home buying process. They buyer agency agreement you have with your Realtor ensures that he or she will represent your interests alone.

What is the Fiduciary responsibility of my Realtor?
You are the number ONE! You have an expert who is looking out for YOU and your best financial needs, an expert that is contractually obligated to protect you. Those new construction contracts can range from 25 pages to 100+ pages long and your Realtor can help you understand specific clauses, riders, and upgrade options that affect you and make sure you understand what you need to before you sign the dotted line.

Can my Realtor negotiate a better deal?
YES! Remember that there are many builders out there wanting you to build a new home with them. A Realtor knows all the many ins and outs of the different builders and what all they have to offer and the outcome. If your Realtor has sold new construction homes to past clients, they can share those experiences good and bad. A Realtor can negotiate price as well as special items into the contract that you may not have considered like ceiling fans, extra electrical outlets, etc.

How is my Realtor involved in the building process?
Signing the contract is just the beginning. You must also have to get your financing in order, work with title companies and attend many inspections throughout the construction. A Realtor can manage the process and can attend inspections with you to ensure that you are not missing anything during each phase of the build. During your final walk-through, otherwise known as your blue tape walk-through, a trusted Realtor can help you see items the builder may have missed and stand up for you in getting those items taken care of in a timely manner. They will have your back!

So a Realtor does all this with no cost to me the buyer?

That is correct! The seller/builder is responsible for the agent’s commission. With no money out of your pocket, you will have the comfort of knowing you have someone obligated to you and offer an extra layer of protection, most of all you will have peace of mind!

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North Texas Buyers Avoid These 5 Mistakes!

North Texas Buyers Avoid These 5 Mistakes!

All North Texas communities including Frisco, TX have a strong competitive housing market. With the influx of Toyota, Liberty Mutual and other big companies relocating here it has become almost challenging for buyers to get the house that they want. Here are 5 common mistakes buyers should avoid when searching for their new home.

Delaying
The term “dragging your feet” is relevant to this situation. Buyers must be ready and have all the necessary paperwork such as a pre-approval letter from the day they begin house-hunting. That way they can act quickly with an offer on the home they like. Not having these things ready could cost them the deal.

Making an offer for the pre-approved amount
Showing your financial strength is a must. When submitting an offer, especially in a multiple offer situation buyers need to make sure their pre-approval letter is for more than the offer price if approved by the lender. Bringing a pre-approval letter for the exact amount can make the listing agent nervous because it creates no wiggle room to negotiate and the buyer may not qualify if interest rates rise.

Submitting a lowball offer
Lowballing usually backfires especially in the seller’s market we are currently experiencing in Frisco and surrounding areas. If the lowball offer is not backed up by comparable data the seller will feel offended and cause the buyer to miss out on the property and/or make seller not want to work with them at all. It is important to listen to a professional Realtor for advice on what to offer.

Waiving Inspection
Always get a home inspection! During the Option period buyers should have home inspected to make sure it is in good shape. This gives buyer an out without losing earnest money.

Being too nitpicky
In a seller’s market, buyers should take certain steps to make sure they look good in the eyes of the seller. Listing agents determine which buyer will be easier to deal with in multiple offer situations. Buyers may want to avoid pointing out every defect or questioning the seller’s tastes. Buyers should act and be reasonable which in turn can rub off on the seller to do the same in return. Remember there are more buyers out there than homes for sale, you must stand out!

One of the biggest mistakes is not having a professional, local Real Estate Agent by your side! Call the Stacey Feltman Group today for all your real state needs!

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Housing Prices and Job Growth Will Continue to Rise in DFW

Housing Prices and Job Growth Will Continue to Rise in DFW

As Realtors, our group has helped many people relocating to the DFW area. We have helped people from California to New York and everywhere in between. Many of these people have different views on our DFW housing market. Most from California are excited by the fact that they get more house for the money here and those from other parts of the country have a tougher time grasping the reality of our market thinking, “Can I trust it will sustain?” “Is this a good investment?” The answer to these questions is YES! Many economist and analysts predict that there will not be another price bubble.

First let’s talk about the current market then on to what is to come regarding population growth.
The biggest problem DFW faces is the lack of inventory of available homes. This includes both
pre-existing and new build homes. Along with that, add lots of well qualified buyers to the equation resulting in the basic rules of supply and demand. Lower Home Inventory + Higher Number of Buyers=Increase in home prices. This is simply the current state of our market in DFW. Some areas of DFW including Bedford, Hurst, Garland, Richardson and Mesquite are the tightest areas with less than a 30-day supply of homes listed.

So why is this happening? DFW has the perfect ingredients to sustain this type of market due to the job growth. You have many companies moving its headquarters and/or expanding its current presence in North Texas. The most recent one being NTT Data’s acquisition of Dell Services. They will be expanding their headquarters in the Plano area soon.

With the boost in our economy here, the people in their current homes are more financially stable and are staying put longer. Homes used to sell every 5-7 years and now it is every 8-12 years. Also, people have refinanced at low interest rates and are not that inclined to sell and borrow to buy a new home at a higher rate.

Job relocation and/or people looking for jobs in the DFW area are the cause of the population growth. One of the many predictions states that DFW is looking to add around 2 million people by 2020. According to the American City Business Journals, DFW’s population is expected to rise 53.3 percent which would put the total population at almost 11 million people by 2040! These are simply predictions, but it is expected that our population will grow by some amount. This factor is why many are stating that there will not be a bubble in our housing market.

In conclusion, the shortage of homes on the market last year has pushed prices to record levels. Median home prices have shot up and we are seeing a lot of appreciation. With the rise in interest rate we have recently seen, it has pushed many buyers to get off the fence and buy but with not many homes to choose from. Many homebuyers have to adjust their budget to account for the increase. Buying a home now rather than later is still a sound investment.

If you would like more information regarding our DFW market or if you are interested in buying or selling, please contact the Stacey Feltman Group at 214-356-8368 or visit us on the web at staceyfeltmangroup.com.

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Community Highlight-Windsong Ranch, Prosper, TX

Community Highlight-Windsong Ranch, Prosper, TX

About:
This master-planned community includes over 2,000 acres including 600 acres of open space, walking trails, parks and outdoor fields and resort-style amenities. There are 3 planned Prosper ISD school sites located within the community along with an elementary school and a fire station site. Windsong Ranch offers lower tax rates and No MUD taxes. You will find smaller communities within including Anthem, Cadence, Crosswater, The Landing, Lakeside and Villas at Windsong Ranch.

Price Range per Builder and Type:
Darling Homes From the low 400s on 61’ Lots & From the mid 400s on the 71’ lots
American Legend Homes From the low 400s
Britton Homes From the mid 400s
Chesmar Homes From the upper 300s
David Weekly Homes From the upper $500s
Drees Custom Homes From the low 500s
Grenadier Homes From the mid 200s
Highland Homes From the mid 400s on 61’ Lots & From the low 500s on the 76’ Lots
Huntington Homes From the low 600s
Mainview Homes Coming Soon

Location:
It is located just off Hwy 380 and the Tollway on the West side with easy access to shopping, sports venues, retail and restaurants. Major retail development underway at Hwy 380 and the Dallas North Tollway to accommodate the growing population.

Prosper ISD Schools:
Windsong Elementary
http://www.prosper-isd.net/windsong

Reynolds Middle School
http://www.prosper-isd.net/Domain/13

Prosper High School
http://www.prosper-isd.net/Domain/14

Community Amenities:
The Commons is set on a scenic hilltop overlooking a 2 acre lake. Here you have a welcome center, Community Café with free wi-fi, Children’s play area, 4 tennis courts, fitness center, resort style pool with cabanas, lap pool & splash park, outdoor living space with fireplace, disc golf course, mountain biking course, green spaces, Amphitheater and more!

Why choose Windsong Ranch?
The location is convenient to the Dallas North Tollway, Amenities are amazing and Community has many events including festivals, barbeques, holiday celebrations, Wine and Music festival and more! This community has it all! You can stay and play all in one place!

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Newman Village, Frisco, TX

Community Highlight

newman

About:
In 2008, Darling Homes and the Newman Family embarked on a mission to create this premier gated community in Frisco, TX. In 2010, building started and now it is on its 3rd phase of development with home builders including of course Darling Homes, Booth Brothers Homes, and Ron Davis Custom Homes. You can downsize to a patio home or upsize into a large custom home. This community has a distinct flare with a small town vibe with its central plaza and many community events like the “It’s a Wonderful Life” at Christmas time. This is an old-fashioned celebration with costumed carolers, horse-drawn carriages and hayrides, ice skating, choo choo train rides, live holiday music and a special meet-and-greet with Santa Claus.

Price Range:
Approximate starting price around $700,000 to over $2,000,000

Location:
It is located just west of the Dallas North Tollway on Eldorado Pkwy. Its location makes it a great place for those needing easy access to DNT, new Toyota headquarters, Dallas Cowboy Practice Facility, etc. It is also in close proximity to shopping, dining, sports arenas and local golf courses.

Frisco ISD Schools:
James R Newman Elementary School
http://schools.friscoisd.org/ES/newman

Trent Middle School
http://schools.friscoisd.org/ms/trent

Lone Star High School
http://schools.friscoisd.org/hs/lonestar

Community Amenities:
•Discovery Center: Hub for social activities and community events throughout the year
•Central Plaza featuring unique works of art
•Walking trails and playground
•Swim and Racquet Club
•Resort-style pool
•Dancing splash pad
•Tennis courts
•Ping Pong tables

Why choose Newman Village:
Location, amenities, gated community, small-town atmosphere, family oriented activities, and distinct architecture make this community top of the list in Frisco, TX.

For more questions regarding this community, please contact the Stacey Feltman Group at
214-356-8368 and we would be glad to share with you what our clients are saying about Newman Village!

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Frisco, TX continues to grow with Frisco Station!

Frisco Station

The CEO of Invest Group Overseas, Anas Kozbari , previously stated that Dubai and Frisco, TX are the two global hot spots for development . His insight may be right on track with the amount of growth that is taking place.

One of the areas of development is Frisco Station. This urban design center is considered the next-generation mixed use development. It will be located surrounding the Dallas Cowboys training facility and the $5B Mile. It will boast everything from, a health & wellness district, urban living, office high-rises, shopping, dining, entertainment, events and more!

Frisco Station has also just locked in 4 new hotels. Newcrest Image, a hotel and development company, will develop and AC Hotel, Residence Inn, Canopy by Hilton and Hyatt Place. It will break ground in January 2017 with an open date of June 2018.

Frisco Station was developed with the health and well-being in mind of its residents, visitors and employees. Its platform consists of smart cutting edge technology with modern amenities, creativity of innovative programs and facilities, and the healthy aspect of its beautiful parks, trails and outdoor amenities.

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Frisco, TX is Welcoming Nexius to Corporate Community!

hall office park

Not only was Frisco, TX recently in the news as the most successful city in the US, it is now welcoming a new company called Nexius to the corporate community. This tech company chose to relocate to Frisco for its business eco-system, including technology companies and accessibility for its employees and customers. Nexius is expected to provide more than 132 full-time jobs over the next 2.5 years. They know that Frisco, TX has the talented workforce to help their company grow. Frisco also compliments Nexius’s direction of their business and can help provide their team members the enjoyment of a work-life balance that is pertinent to their retention and growth.

If you or someone you know would like to relocate to Frisco, TX, the Stacey Feltman Group is your team of experts to help make your Realty dreams a Reality! Call us today at 214-356-8368!

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Housing inventory at All Time Low

housing-market-existing-home-sale-nar-lawrence-yun-housing-inventory-housing-recovery

The Texas Association of Realtors just released a quarterly report stating that housing inventory has just fallen into an all- time low of 2.8 months in the first quarter of 2016. This is a decline of 0.6 months from first quarter of last year. Active listings also fell sharply in the first quarter of this year. What is the result from all this? With the limitations of inventory and rising property values it is making housing affordability a challenge not only in Dallas/Fort Worth but all across the state. This problem could get larger.

With Dallas/Fort Worth continuing to be a major relocation hub for business such as Jamba Juice, Liberty Mutual, Toyota amongst many others, our population will just continue to grow and housing inventory struggling to keep up. Even with the cooling off period after the five year boom the real estate market is expected to make strong headway.

All this said, with the low interest rates and increase in population it is making it hard for buyers to find a home of their dreams. The majority of homes are multiple offer situations which drives the prices up even more making it more beneficial for the seller to sell with higher profits than before. Therefore, this is a great time to not only sell but to buy as the real estate market is going strong in DFW and surrounding areas!

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SFG Ready to Help Toyota Transplants!

relocation pic

It has been 2 years since Toyota unveiled it plans to relocate their headquarters to Plano, TX. Ultimately, this will bring 4000 employees to North Texas. So far 500 employees are working out of temporary offices and it is expected to have around 800 by the end of the year. A lot of employees are making trips out to North Texas to check out the real estate market and test out the area for a potential move. With the completion date expected to be early 2017 we can expect our population to grow and more people looking for homes.

The Stacey Feltman Group (SFG) with Ebby Halliday Realtors is part of the relocation team designed to assist Toyota with the relocation of its many employees. Our team is dedicated to providing superior service to our customers by assessing individual needs and creative solutions. Our offices are conveniently located just across TX-121 from the new corporate location. This is what you can expect from the SFG when moving to Frisco, TX and surrounding areas…

• Provide exceptional and innovative real estate services and deliver results that exceed expectations.
• We give recommendations and evaluations of reputable moving firms and service providers.
• Counseling on family moves and strategies for reducing relocation’s impact.
• In depth and detailed knowledge of the communities and what new residents should know.
• Deep connections with local organizations to help relocating homeowners join the community.
• And More!

For help in your real estate needs or relocation needs, don’t hesitate to contact us directly at..
214-356-8368 or visit our website at www.staceyfeltmangroup.com

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Frisco’s $5B Mile is Getting Global Attention

Frisco $5B Mile

Not only is Frisco, Texas getting national attention regarding this $5B Mile project, but now it is getting Global attention as well. Many different investors around the work from places like China, Korea, Germany, Peru, Dubai and Honduras is interested in investing in and around the area as well.

The first piece will be done this year with the opening of the Dallas Cowboy’s headquarters and multi-use events center also known as The Ford Center at The Star. There are other major developments to go in as well.

Texas is already home of over 54 Fortune 500 companies and 423 headquarters of companies in the Inc. 5000 with more on its way in the coming year. As more companies head to Texas we will continue to see the Frisco and Plano areas grow even more!

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