Dallas Real Estate and Short Sale Blog: January 2011

According to the Plano Police Department Crime Prevention Unit there is no current spike in activity either in Ridgeview Ranch or Plano, but there are incidents.  Continued vigilance by everyone is still the best answer.  

Currently there are three types of burglars operating in the area.

• Between 9 AM and 2 PM while the children are at school and the homeowner is may be out running errands.
• Between 5 PM and 7 PM the burglars will drive down the street looking for homes with no lights, an indication that the homeowner is still at work.  The best defense against this is to have lights on timers that come on before dark.  It is probably best to get the timers that shift the time so the light doesn't pop on at 5:07:23 every day. (Does anyone remember the scene in one of the Home Alone series of movies in which the burglars sat on a street and predicted exactly when lights would come on in each house.
• Overnight burglaries are rare; about 3% of the total burglaries.  Most of these burglars do it for the thrill of getting in and getting out undetected while someone is at home.  

Overall the best measures to take are:

• Keep your garage door closed unless you are in the garage or driveway.  This is the easiest path into your home.  As part of this, keep the door from your house to the garage locked at all times.  The garage door is not a secure door.
• Always respond to a doorbell or a knock at the door. Don't open the door, but answer through the door.  Have a peephole so you can see who is outside.  Say "Who is it?"  If the person is not someone you know or expect, send them away and call 911.  The police do not mind answering a call for suspicious activity.  

Source:  Ridgeview Ranch CrimeWatch

Excitement is in the air surrounding The Preserve in Allen since Ashton Woods put up their sign on this prime location on McDermott Rd. east of Custer.

Plans include 104 single family front-entry homes starting in the mid to upper $200s. Standard lot size will be 50’ x 115’, but 40% of the community will have cul-de-sac or oversized lots from 6,000-7,000 square feet. Minimum home size will include at least 1,900 square feet of living space.

The main focal point of the development will be a large lake with lighted fountain. 50% of the homes will have a lake view or will back directly to the lake. The builder is adding additional trees, and hike and bike trails for the homeowners.

The Preserve in Allen is currently zoned to the exemplary Allen School District including Evans Elementary, Ereckson Middle School, and Allen High School – all rated exemplary for 2010 by the Texas Education Agency.

Ashton Woods plans to begin pre-selling homes in November, 2011.

Photo Copyright 2011 - Imaged2Sell

Source: http://www.thebranchteam.com/wordpress/2011/01/26/the-preserve-in-allen-by-ashton-woods/

3 Bedrooms | 2.1 Baths | 3-Car Garage | 3072 SF/Tax

Dallas TX Luxury Home For Sale - Beautiful Med-style home on corner lot with mature trees and spectacular 2-story entry. Island kitchen with granite, built-in fridge, Mirazzi tile, walk-in pantry and wine rack. Great room overlooks tropical oasis with covered veranda, sparkling pool and outdoor FP. Master suite down has glass block shower and sep. jetted tub. Third living up perfect for game room. 3 floored attics, 3-car garage with cabs, counters and workbench. Many extras!

Current status, pricing, photos, and a virtual tour for this Dallas Texas, Luxury Home For Sale.

Source: NTREIS

It’s that time of the year again. Many of us are picking up our mail and trying to get our tax documents together so we can prepare and file our 2010 returns.

If you completed a Short Sale of a house in 2010, you will likely received an IRS Form 1099C showing the amount of debt that was cancelled in the Short Sale process. Don’t panic! The Mortgage Forgiveness Debt Relief Act applies to debt forgiven in calendar years 2007 through 2012.

According to the IRS website:

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

The best course of action is to contact your tax preparer or CPA, or you can download IRS Publication 4681 for guidance on the topic.

Photo Licensed from iStockPhoto

Source: http://www.thebranchteam.com/wordpress/2011/01/26/short-sales-and-irs-form-1099c/

3 Bedrooms | 2 Baths | 2-Car Garage | 1613 SF/Tax

Valley Ranch, Irving TX Home For Sale - Beautiful move-in ready home for the most discerning buyer. Hardwood and granite floors, recent carpet and Italian tile. Tuscan-styled kitchen includes a skylight and breakfast bar. The light and bright living area offers high ceilings and overlooks the open patio and rock garden. Spacious master bedroom and designer bath. Large corner lot with cedar fence. Gas fireplace and designer touches are just some of the extras of this must-have home.

Current status, pricing, photos, and a virtual tour for this Valley Ranch, Irving Texas, Home For Sale.

Source: NTREIS | Photo Copyright - Imaged2Sell

One of the main keys to success in business is number one, to make sure that there is a great need or demand for what you do.

One of the best ways to guarantee that is to make sure you only spend your time selling to qualified prospects - people who need, want and can pay for what you're selling. There may be people who need or want what you have, but if they can't afford to pay for it, or if you can't arrange suitable payment options for them, you'll spend a seemingly endless amount of time and get nowhere.

On the other hand, there may be people who have the ability to pay, but not the need or want. In these cases, you can also waste considerable time, because surely, no sale will result from your efforts.

The second point is that you are paid in direct proportion to your ability to do what it is that you do. That is, to identify, qualify and sell the products and services you offer to your prospects and customers, and then service their needs as they arise.

In some businesses, the sole function of salespeople is to seek out qualified prospects and sell them the products or services offered by the business. The necessary service work for the customer is provided by an office or support staff.

In other businesses, each salesperson is responsible in every way for each of their customer's needs, from the initial sale to providing all the necessary service the customer might require, including updating the product or service, customer complaints, changes of address, or any other service work that may be needed.

The determining factor then is not what your responsibilities are, but rather, how good you are at performing those responsibilities.

Third, remember that you are paid in direct proportion to the difficulty in replacing you.

Based upon "Achieving Rock Star Status", by Tom Branch and Gina Branch - Copyright 2010 

CB Jeni Homes has begun their close out of Wyndsor Court in Richardson, Texas. Currently there are two completed homes ready to go:



3521 Monmouth Ct - 3 Bedrooms | 2 Bathrooms | Study | 2200 SF-Plan - Originally listed at $281,590. Close-Out priced at $238,990. Details, photos, and virtual tour on this Richardson Texas Close Out Home.

3525 Monmouth Ct - 3 Bedrooms | 2 Bathrooms | 2286 SF-Plan - Originally listed at $282,073. Close-Out priced at $238,990. Details, photos, and virtual tour on this Richardson Texas Close Out Home.

All homes include:

• Crown Molding in the Entry and Master Bedroom
• Custom 5.25" Base Molding
• Stainless Steel Kitchen Applainces
• Tile in Wet Areas
• 8 Foot Interior Doors
• Landscaped Yard and Sprinkler System
• 14-16 SEER HVAC
• Rounded Corners
• Granite Counters in Kitchen
• Upgraded 42" Kitchen Cabinets
• 10-15 Foot Ceilings
• 6 Foot Fenced Yard with Gate

Don't miss you chance to get a new home at a close-out price!



The Branch Team with RE/MAX Dallas Suburbs is the exclusive listing broker for CB Jeni Homes.

As we start into 2011, we need to be prepared for the media frenzy that’s going to happen as the sales figures are released. The market will be “crashing” and new worries will spread throughout not only the housing market, but the economy in general.



How can I make such a bold prediction?

2010 was not a normal year. We had all the buying activity crammed into the spring driven by the Federal Tax Credits. For those of us on the inside, we know it was crazy. I sold every property I had listed under $200k. Come July, the market tanked. I called it, “Cash for Clunkers Comes to the Housing Market.”

So regardless of what this spring’s sales look like, it’s going to be far less than the same period in 2010. The “experts” will come to the wrong conclusions and the unsuspecting media will run with it.

That’s the bad news…there is good news though…

The second half of 2011 should be far better than the second half of 2010, the “experts” will come to the wrong conclusion, and the media will run with it. It’s going to be impossible to normalize the 2010 data so we have to accept 2010 for what it was…an anomaly brought on by the Federal Home Buyers Credits.



Based on a Presentation by Kelly Milligan, Chicago Title | Photo licensed from iStockPhoto

Source: http://www.thebranchteam.com/wordpress/2011/01/22/why-the-first-half-of-2011-will-look-bad-and-the-second-half-will-shine/

RE/MAX Dallas Suburbs announced 2010 Annual and Fourth Quarter award winners at an Awards Breakfast this morning at the Gleneagles Country Club in Plano, TX. The Branch Team won the following awards:

Top Listing Team for 2010

Top Listing Team for the 4^th Quarter 2010

3^rd Place Closing Team for the 4^th Quarter 2010

RE/MAX Dallas Suburbs is a full-service real estate company with 79 professional agents; with an average of 16 years experience. This wealth of experience goes a long way towards explaining how this group sold over $289 million of real estate in 2010 and consistently wins Top Office honors in the RE/MAX Texas - Dallas Region.

Source: RE/MAX Dallas Suburbs

I had received an email from a client asking for a recommendation for a home inspector. They asked if I knew any great inspectors.  Gina and I were on the way out to lunch so we talked about home inspectors while we dined.

Over the years we have both seen the good, the bad, and the ugly. The weather had turned cold and neither of us wanted to go out to the car so we sat there, mulling over the question of what makes a great home inspector.

After some discussion, we divided home inspectors into three broad categories; Bad Inspectors, Deal Killers, and Great Inspectors.

Bad Inspector

These types of inspectors are not competent or fail to do a thorough inspection. They often cut corners or fail to have the proper training, tools, or experience to do the job. Bad Inspectors are dangerous. You don't want to recommend nor see your clients hire these types. Their failures often results in increased liability to the agent and the brokerage.

Deal Killer

These inspectors are competent. They know how to perform a thorough inspection and have the tools and training to do so. Sadly, Deal Killers are often know-it-alls and go out of their way to find problems that really do not exist. They create fear and doubt.

For example, Texas has a "works / does not work" standard. We had listed a property a few years back and the inspection report showed that the hot water heater should be replaced. When confronted, the inspector admitted it was working fine and showed no sign of any problems. His comment was that water heaters have a life expectancy of 7 years and the one in this house was 7 years old, therefore it should be replaced. We were able to salvage the transaction but it should not have happened at all.

Great Inspector

They are not only highly competent but they have superior people skills. They have the tools, training, and experience to do a complete inspection of the property. They do not cut corners and if it's bad, they find it. Where Great Inspectors shine is in their ability to walk the client through the inspection report and explain it to them. They do not create fear, they create understanding.

Do you know a really great inspector? I know a few...

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