How is a real estate transaction like a football game?

How is a real estate transaction like a football game?

Who is ready for some football? Football season is upon us and for some this is an exciting time of year!  For many, football season means cheering for your favorite team, enjoying the game with friends & family, good food, cooler weather and even attending a live game.  The real estate transaction can be a lot like a football game.  Successful real estate transactions, like football games, are the product of many players, coaches and other people behind the scenes that play a role in their team’s success.

Team:

In football, there are 2 opposing teams on each side of the field, and on the sidelines are the coaches.  In real estate, you have the Buyer team and the Seller team.  On the sidelines are the Coaches – the Real Estate Agents.

Real Estate Agent/Coach:

Like many other professions, successful agents in the game are extremely competitive.  Even the opposing “Coaches” have the same mission but may employ different methods.  The Real Estate Agent/Coach will instruct and motivate their players throughout the game.

Huddle up:

This is what the Real Estate Agent does with their clients during negotiations when figuring out what to offer or counter offer on a home.

Fumble: 

A Real  Estate Agent will make sure not to “fumble the ball” during the transaction and keep their head in the game on all of the contractual deadlines.

Tackle:

This is what a professional Real Estate Agent does if unexpected situations should arise like appraisal shortages, home inspection conflicts, repair requests or closing delays.

The other team: 

This is the Real Estate Agent and his or her Clients on the other side of the field.  Just like in football, it is important to play nice and show professionalism throughout the game.

The quarterback: 

In football, the QB is not only a key decision maker but has the ability to make timely plays and efficiently manages impromptu adjustments.  They have a big responsibility and directly impacts the outcome of each play.  In real estate, the Mortgage Lender is the QB- and the MVP of every successful transaction.

Referee:  

The Title Company “calls the plays” and makes sure all the facets of the transfer of ownership for both teams is done contractually and legally, that way everyone can make a touchdown at the closing table.

End-Zone Celebration: 

What you do when you close your transaction!

Fans:

These are the buyers and sellers. The goal is of any real estate professional is to turn each client into a raving fan that will continue to support their business with referrals of their friends and family.

If you are looking to have a professional team on your side for your real estate needs, contact the Stacey Feltman Group Today!

 

 

Read More

ENGAGING A REAL ESTATE PROFESSIONAL IS KEY!

ENGAGING A REAL ESTATE PROFESSIONAL IS KEY!

North Texas’ attractive quality of life, strong economy and low cost of living ensure the area will continue its rise to prominence among the world’s leading metro areas. If you are a home buyer or seller, now is the time to look for professional representation. Engaging an agent is different for everyone, but here are some considerations:

Experience – Look for an agent who is fully involved in a career and the area in which he or she works.

Personality and interests – Do some background work on any potential agent. Bio pages, LinkedIn accounts, social media pages and online reviews can all be helpful, but not having one or the other may not have a direct correlation to how “good” an agent is.

Career – If you’re serious about buying or selling a North Texas home, you’ll want an agent who’s active in the industry full-time.

Education – Knowledge is essential in the competitive North Texas market. Professional education programs at the Ebby Halliday Companies are recognized as among the very best.

The numbers – Don’t choose an agent based on a lower commission, or because the agent agrees with you on the listing price of your home; rely instead on the agent’s professional expertise and opinion, and the fact he or she will represent your best interest.

Written By:  Mary Frances, President & CEO Ebby Halliday Companies

The Stacey Feltman Group of Realtors have a combined over 50 years of experience in the industry.  As full time agents and with our love of real estate, we strive to serve our clients with the best service, knowledge and professionalism while staying competitive in the North Texas market.  As one of Ebby’s companywide top producing groups, we have what it takes to help you and your family find the home of your dreams.  As our tagline states, we make realty dreams a reality!

To speak with one of our fabulous agents, you can call us at 214-356-8368.  We would love to chat with you!

 

Read More

Want to buy a house in 2018? Here are 6 Steps to take now!

Want to buy a house in 2018?  Here are 6 Steps to take now!

Many of us make New Year’s resolutions from dieting, exercising, traveling, etc.  If one of your resolutions is to purchase that dream home in 2018, here are some helpful steps you can take to make that dream a reality.

Check your credit score.

FICO scores range from 300-850.  If your score is above 740, typically you will get a better interest rate on a loan.  This lower rate could mean saving thousands of dollars per year.  If your credit falls a little short you should look into repairing it.  You can start by correcting any errors and paying bills on time.  It is wise to use 30 percent or less of your total available credit.

Don’t open new credit cards.

Opening new lines of credit could hurt your chances of getting a mortgage or getting the best rate.  As tempting as it may be to save 20 percent of your purchase that one time at a store, it is not worth it in the long run.

Interview real estate agents.

You may ask for referrals from your family and friends, but what is most important is to shop around to find the agent that is the perfect fit for you.  Make sure the agent is a good communicator, knowledgeable and experienced.

Keep tabs on interest rates.

Not everyone gets the same interest rate on a mortgage loan.  This depends on your finances and lender you choose.  It is best to shop around for the lowest rates.

Find a mortgage lender & get pre-approved.

Before you even start looking for a home, look for a mortgage lender to find out how much home you can afford or if you are in the position to purchase a home at that time.  Most lenders will tell you some things that you could do to get there faster.  Most real estate agents require pre-approval letters before setting up house hunting trips.

 

If you are interested in purchasing a new home this year, the Stacey Feltman group can help.  We are have the experience, knowledge and negotiation skills to help make your REALTY DREAMS A REALITY!

Contact us at 214-356-8368

 

 

Read More

“Make Your Realty Dreams a Reality”

"Make Your Realty Dreams a Reality"

Just recently the news reported on the lack of affordable homes in the DFW area. DFW used to be known for the relatively low cost of housing compared to other similar sized markets. Dallas remains among the top 3 markets in the country in regards to highest year to year gains. Some say we are reaching a limit or ceiling if you will. Experts label affordable homes with those priced $200,000 and below. Over the past few years there are fewer and fewer homes that are available for that price point in DFW and its many suburbs. Many have to broaden their search to outside cities like Kaufman, Fate and Greenville where there are still at a good value.

So what can you do if you are a buyer looking for “affordable housing” but do not want to move too far out of the reach of DFW? Answer is you need to be more “attractive” to the sellers of those homes that do pop up on the market and here is how…

1. Become pre-qualified with a lender.
2. Make sure you have a real estate professional by your side. .
3. Move quickly once you find the house you want.
4. Write a personal letter to the sellers to let them know how much you love their home and how you will continue to love it the way they did.
5. Start with the best offer. You may only get one chance to make an offer and will need to go in at your highest and best.
6. Be realistic about the inspection and repairs.
7. Make a bigger earnest money deposit.
8. Make back-up offers if you don’t get it the first time.
9. Consider waiving or shortening contingencies.

The Stacey Feltman Group can help you with your home buying needs. Call us today at (214) 356-8368. Our group has the experience, knowledge and drive you help you make your realty dreams a reality!

Read More

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!

Read More

Community Highlight-Hollyhock, Frisco, TX

Community Highlight-Hollyhock, Frisco, TX

Community Highlight-Hollyhock, Frisco, TX

About:
Hollyhock is located in the rapidly-growing and desirable city of Frisco, TX. Encompassing nearly 400 acres, the community will include an amenity center and numerous parks and a trail network.

Price Range per Builder and Type:
David Weekly Homes From the 414’s
Drees Custom Homes From the 420’s
Britton Homes From the low 500’s
Coventry Homes From the 600’s
Highland Homes From the 520’s

Location:
Take the Dallas North Tollway north to Panther Creek Parkway in Frisco. Turn left and drive 3.5 miles, turn right on Teel Parkway to the entrance to Hollyhock.

Frisco ISD Schools:

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:

Clubhouse & Pool- Contains a resort-style pool to swim laps or to just enjoy a day with the family under the cabanas. Amenities also include a splash pad, BBQ area, outdoor patio space, clubhouse with fitness center, gathering spaces and an event kitchen.

Trails and open space- 5.5 miles of hiking, biking & walking trails. Green spaces, parks, playgrounds, pavilions and artful spaces.

Activities & Events- Yoga, running and mom-and-tot clubs, community gatherings & parties planned.

Why choose Hollyhock?
The location is convenient to the Dallas North Tollway, Amenities are amazing, top notch Frisco Schools, community events and convenience to shopping & dining. A perfect place to enjoy the perks of Frisco living!

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 Hollyhock.
You can visit this community on the web at http://www.hollyhocktx.com/

Read More

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.

Read More

North Texas Real Estate Stats for December 2016!

North Texas Real Estate Stats for December 2016!

Thinking about Selling, Then Check Out Your North Dallas Area Real Estate Stats!
Latest stats from December 2016 North Texas Real Estate Information Systems.

Frisco, TX & Denton, TX
Active Listings: 608 (39% change year ago)
New Listings: 227 (18% change year ago)
Pending Sales: 218 (-2% change year ago)
Sold Homes: 292 (-6% change year ago) w/average of 54 Days on the Market (8% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 1.9 months* (39% change year ago)
Average Sales Price: $442,581 (13% change year ago)
Average Price per SqFt: $140 (10% change year ago)

Prosper, TX
Active Listings: 291 (46% change year ago)
New Listings: 54 (10% change year ago)
Pending Sales: 44 (47% change year ago)
Sold Homes: 69 (10% change year ago) w/average of 67 days on the market (-23% change year ago)
Sales Price to List Price: 97% (0% change year ago)
Months of Inventory: 4.3 Months* (78% change year ago)
Average Sales Price: $485,058 (6% change year ago)
Average Price per SqFt: $142 (12% change year ago)

McKinney, TX
Active Listings: 356 (25% change year ago)
New Listings: 142 (10% change year ago)
Pending Sales: 158 (-4% change year ago)
Sold Homes: 229 (-10% change year ago) w/average of 49 days on the market (20% change year ago)
Sales Price to List Price: 98% (-1% change year ago)
Months of Inventory: 1.6 Months* (23% change year ago)
Average Sales Price: $332,794 (11% change year ago)
Average Price per SqFt: $127 (10% change year ago)

Allen, TX
Active Listings: 141 (2% change year ago)
New Listings: 78 (20% change year ago)
Pending Sales: 77 (8% change year ago)
Sold Homes: 132 (6% change year ago) w/average of 44 days on the market (13% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 1.1 Months* (-4% change year ago)
Average Sales Price: $345,014 (13% change year ago)
Average Price per SqFt: $131 (15% change year ago)

The Colony, TX
Active Listings: 40 (17% change year ago)
New Listings: 27 (-16% change year ago)
Pending Sales: 38 (23% change year ago)
Sold Homes: 36 (-18% change year ago) w/average of 19 days on the market (-32% change year ago)
Sales Price to List Price: 99% (-1% change year ago)
Months of Inventory: 0.9 Months* (-7% change year ago)
Average Sales Price: $253,523 (15% change year ago)
Average Price per SqFt: $120 (13% change year ago)

Plano, TX
Active Listings: 422 (36% change year ago)
New Listings: 165 (-22% change year ago)
Pending Sales: 181 (-17% change year ago)
Sold Homes: 291 (2% change year ago) w/average of 39 days on the market (11% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 1.4 Months* (38% change year ago)
Average Sales Price: $377,544 (16% change year ago)
Average Price per SqFt: $134 (8% change year ago)

*Months of inventory- This is the amount of time it would take to sell all current listings at the current sales pace if no new listings became available. You will hear “Seller’s Market and Buyer’s Market” in regards to Months of Inventory.

Here is what determines the current status:

0-4 Months is a “Seller’s Market”
5-7 Months is a “Balanced Market”
8-12 Months is a “Buyer’s Market”

So with this guide you will see we are in a Seller’s Market. This is the time where there are more buyers than homes on the market and as a seller you will be able to get the most money in your pocket with possible multiple offers in the right situation. If you are on the fence about selling, this information may help you make that decision.
If you would like stats from other cities around the Metroplex, please give us a call and we will be glad to share them!

Read More

Your November 2016 Real Estate Stats!

Your November 2016 Real Estate Stats!

Thinking about Selling, Then Check Out Your North Dallas Area Real Estate Stats!
Latest stats from November 2016 North Texas Real Estate Information Systems.

Frisco, TX & Denton, TX
Active Listings: 664 (33% change year ago)
New Listings: 295 (27% change year ago)
Pending Sales: 260 (-1% change year ago)
Sold Homes: 300 (36% change year ago) w/average of 46 Days on the Market (-6% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 2 months* (32% change year ago)
Average Sales Price: $414,039 (2% change year ago)
Average Price per SqFt: $136 (4% change year ago)

Prosper, TX
Active Listings: 315 (76% change year ago)
New Listings: 71 (42% change year ago)
Pending Sales: 49 (-4% change year ago)
Sold Homes: 57 (-4% change year ago) w/average of 80 days on the market (27% change year ago)
Sales Price to List Price: 98% (1% change year ago)
Months of Inventory: 4.7 Months* (78% change year ago)
Average Sales Price: $559,447 (34% change year ago)
Average Price per SqFt: $145 (16% change year ago)

McKinney, TX
Active Listings: 401 (18% change year ago)
New Listings: 188 (-13% change year ago)
Pending Sales: 205 (0% change year ago)
Sold Homes: 188 (11% change year ago) w/average of 49 days on the market (17% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 1.7 Months* (14% change year ago)
Average Sales Price: $339,430 (12% change year ago)
Average Price per SqFt: $125 (8% change year ago)

Allen, TX
Active Listings: 177 (7% change year ago)
New Listings: 102 (-4% change year ago)
Pending Sales: 128 (20% change year ago)
Sold Homes: 117 (33% change year ago) w/average of 43 days on the market (2% change year ago)
Sales Price to List Price: 98% (0% change year ago)
Months of Inventory: 1.4 Months* (0% change year ago)
Average Sales Price: $361,555 (12% change year ago)
Average Price per SqFt: $129 (9% change year ago)

The Colony, TX
Active Listings: 54 (17% change year ago)
New Listings: 35 (3% change year ago)
Pending Sales: 37 (-5% change year ago)
Sold Homes: 37 (-12% change year ago) w/average of 19 days on the market (-32% change year ago)
Sales Price to List Price: 100% (12% change year ago)
Months of Inventory: 1.2 Months* (9% change year ago)
Average Sales Price: $253,647 (15% change year ago)
Average Price per SqFt: $121 (12% change year ago)

Plano, TX
Active Listings: 469 (15% change year ago)
New Listings: 300 (23% change year ago)
Pending Sales: 275 (1% change year ago)
Sold Homes: 270 (17% change year ago) w/average of 33 days on the market (-8% change year ago)
Sales Price to List Price: 99% (1% change year ago)
Months of Inventory: 1.6 Months* (16% change year ago)
Average Sales Price: $353,465 (1% change year ago)
Average Price per SqFt: $130 (6% change year ago)

*Months of inventory- This is the amount of time it would take to sell all current listings at the current sales pace if no new listings became available. You will hear “Seller’s Market and Buyer’s Market” in regards to Months of Inventory.

Here is what determines the current status:
0-4 Months is a “Seller’s Market”
5-7 Months is a “Balanced Market”
8-12 Months is a “Buyer’s Market”

So with this guide you will see we are in a Seller’s Market. This is the time where there are more buyers than homes on the market and as a seller you will be able to get the most money in your pocket with possible multiple offers in the right situation. If you are on the fence about selling, this information may help you make that decision.
If you would like stats from other cities around the Metroplex, please give us a call and we will be glad to share them!

Read More