Dallas Real Estate and Short Sale Blog: February 2012

Thinking About Selling? This May Be The Time!

The past couple of months have been crazy! Homes that are in good condition, show ready, and priced right are flying off the greater Dallas market. It's almost like the good old days. Two of our recent listings had multiple offers within a week of going on the market and several of our buyers had to pay list or above in order to secure a contract. The buyer's market in north Dallas area is over in the under $200k price range.

There's been a lot of speculation as to the reasons but many first-time home buyers have been sitting on the fence waiting for rates to bottom out or the economy to stabilize.

This may last well into the normal spring sales season unless something bad happens to the economy. The run-up in oil prices and the impact on fuel prices could send them back on fence.

If you've been thinking about selling your home and moving up this may be one of the best times in history to do so. Homes under $200k are moving, prices are likely at the bottom, and interest rates are insanely low. We closed a home a couple of weeks ago with a 15 year mortgage at 3.00 percent and another recent closing had a 30 year FHA mortgage at 3.875 percent.

We have many resources on our website:

Home Value Request - What's my home worth?

Seller Tips

Are You Show Ready?

Looking for an experienced team of agents with a proven track-record to sell your home? Click here.

Feel free to contact us if you have questions or need more information.

Photo Copyright RE/MAX®

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/26/thinking-about-selling-this-may-be-the-time/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

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Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

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6 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 26 2012 06:17PM

Can Texas Attorneys Collect Referral Fees?

Referral Fees To Texas Attorney

This is always a hot topic and so many people are not aware of the laws and rules which govern it.

Texas attorneys can represent both sellers and buyers. Given that few attorneys are also brokers or salespersons, they don't usually represent sellers who need to have a property marketed. The most common situation is an attorney representing a buyer. While the attorney can represent them, it is illegal for a Texas broker to share a commission with an unlicensed person or entity (other than a party to the transaction). Texas attorneys can collect a fee from the client they represent or even the seller if the parties agree (TRELA §1101.651(a) and §1101.652(b)(11) respectively). Listing brokers can reduce their commission so that the seller can pay the attorney directly without violating the Act.

The same rules apply to the referral fees. Brokers cannot pay referral fee (valuable consideration) to unlicensed persons or entities. There is an exception found in TREC Rule 535.20(a) which allows brokers and salespersons to provide gifts of merchandise with a retail value of $50 or less. Such gifts are not considered valuable consideration.

Tom Branch

Photo licensed from iStockPhoto

Originally posted at http://www.referralagentsoftexas.com/2012/02/25/can-texas-attorneys-collect-referral-fees/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

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Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

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4 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 25 2012 07:15AM

Spring Returns to North Texas

It's that time of year again. It always seems to catch me by surprise. As I drove into Ridgeview Ranch last night, I noted the Bradford Pear trees are just beginning to bloom. For me, that's the first sign that colder winter weather is about to give way to spring.

It's also time to get out and do that first work on your lawn. With warmer temperatures come the weeds so it's time to get your pre and post emergent down. You can purchase these at you local home supply store or you can have it handled professionally. Click here for our directory of lawncare professionals.

Photo Copyright 2012 Tom Branch

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/24/spring-returns-to-north-texas/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

3 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 24 2012 07:33AM

Frisco TX Home For Sale 13185 Galaxy

Front View 13185 Galaxy

Immaculate single-level Centex home with brick-stone exterior is ready for new owners. 4 bedrooms, 2 bathrooms, 2073 square feet per tax, built in 2005.

Stacked formals lead to open kitchen with black appliances and walk-in pantry. Family room with wood-burning fireplace overlooks the private backyard and patio.

Master suite is split away and includes a garden tub, separate shower, and a walk-in closet. Large secondary bedrooms and main bath. 4th bedroom can be used as a study. Enjoy the community amenities.

Video Tour

Click here for more information, photos, current pricing, virtual tour and status on this Frisco TX Home For Sale.

Photos licensed from Shoot2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/22/frisco-tx-home-for-sale-13185-galaxy/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

2 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 22 2012 08:03AM

An Open Letter to Zillow - Clean Up Your Data!

I'm almost to the point I hate talking to people who are searching for homes on the  Zillow website. It's not the Zestimate that bothers me-it's the outdated and bogus data that I despise.

As I research these properties I typically find the property has long been sold or expired. Some agents just don't update their websites while many post these bogus listings on purpose to attract buyers. Not only is this behavior a disservice to consumers, it's a violation of the NAR Code of Ethics.  I do what I can locally by emailing the agents and their brokers, but it's so wide-spread that it can no longer be self-policed.

I realize it's all about driving traffic and selling advertising but it's time for Zillow to take a stand on this issue.

I'm calling on Zillow to only accept data from sources that are IDX compliant or will be updated at least every other day. I know it can be done because RE/MAX of Texas is providing such a feed for all RE/MAX listings in Texas. Zillow should also suspend or terminate the accounts for sources caught posting or feeding bogus listing data to their site.

Zillow has become a major player in the real estate syndication market--it's time they take a stand and clean up their data. If they fail to do so eventually the consumer will learn that their data is flawed and go find other sites that are not.

Until Zillow cleans this up, I will continue to tell all my clients not to use Zillow for property searches. I encourage each of you to do the same.

 

Photo licensed from iStockPhoto

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

54 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 19 2012 08:20AM

Culvers to Reopen in New McKinney TX Location

Culvers in McKinney TX

We were in McKinney this morning meeting with a past client. As we drove up US75, we suddenly had a hankering (it's a Texas thing) for a Culver's pot roast sandwich. As we exited, we noted the store was already closed. We are friends with Jim Kuntz, the owner, and we knew he was opening a new location on Eldorado Parkway so we drove over there to see if the new location was open.

The windows were still covered but we saw his car in the lot. I stuck my head in the front door hoping to say "hello" only to find Jim and his staff training for the Grand Reopening on Monday, February 20th. We were invited in to have lunch. No pot roast, but I had a tasty prime rib sandwich, onion rings, and a serving of custard. Yummy!

The Main Counter at Culver's Culvers Dining Area Map to Culver's

The new store looks great. It has a nice upscale look that compliments the upscale food and desserts that they serve. Culver's reopens on February 20th so make sure to stop by and try out their new location.

Photos Copyright 2012 Imaged2Sell | Base Map ©OpenStreetMap contributors, CC-BY-SA

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/17/culvers-to-reopen-in-new-mckinney-tx-location/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

0 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 17 2012 06:36AM

Brick Row Townhomes Richardson TX

Brick Row Richardson TX Townhomes For Sale

Location, location, location! CB JENI Homes has just announced a new townhome community in Richardson, Texas. Located just east of the Spring Valley DART Station (click on map below for larger version), these modern townhomes are going to sell quickly!

We met with the builder yesterday and were told that sizes will range from 1300 to 1800 square feet and prices will start in the mid-$140's! This will include granite counters, site built cabinets and much more.

Brick Row Map

We hope to have copies of the floorplans and more details in a week or so.

We offer a New Home Rebate!

Photo used with permission | Base Map ©OpenStreetMap contributors, CC-BY-SA

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

2 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 16 2012 08:49PM

Carrollton TX Single Level Townhome 1704 Sandpiper

Looking for a great single level townhome in the heart of Carrollton? Here it is! This 2 bedroom, 2 Bath, 1528 square foot townhome is ready for new owners who want to live a low-maintenance lifestyle. Built in 2004 there are extensive hardwoods and fresh carpet.

The well-appointed kitchen has light cabinets, black appliances, granite counters, and lots of storage space.

Live the good life. The HOA dues include full use a facilities, lawn care, sprinkler system, blanket insurance, and full exterior maintenance. Relax and read a book on the sundeck or take a refreshing dip in the pool.

Click here for more information, photos, current status, and pricing on this Carrollton Texas townhome for sale. 

Video Tour 

Click here to see all townhomes for sale in Carrollton TX.

Feel free to contact us if you need more information or want to schedule a showing.

 Tom Branch, Broker, CDPE, SFR

Listing and Photos Courtesy Lance Talkington, RE/MAX Dallas Suburbs

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/15/carrollton-tx-single-level-townhome-1704-sandpiper/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

0 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 15 2012 11:35PM

It's a Price War and a Beauty Contest

Upscale Home

If your home is listed or you are thinking about listing, you need to realize that selling in today's market is a price war and a beauty contest. Even worse is that you often have to win both!

In many areas there are far more homes available than there are buyers looking. Add short sales and foreclosures to the mix and you will quickly see that you are in the midst of a price war. For buyers, that's great news. We're having sale on real estate! For sellers, it means you really have to look at the prices of competing homes and price your home accordingly. I'm not saying that you have to give it away, but if you truly want to sell, you have to be in the ballpark. The good news for sellers is that many are also buyers so the "loss" on the sale can be made up with the purchase of a new home.

Unless you're an investor, a home purchase is still an emotional decision. Homes that create emotion not only sell, they sell for more. If you're selling, you and your agent need to create that emotion. Homes that are in good condition, properly staged, always ready for showings, and properly marketed do sell. Want to know the good news? They sell quicker and for more money!

I alway tell sellers if nobody walks in the front door, the home is either overpriced or poorly marketed. If buyers walk in the front door and will not make an offer, it's because they don't see the value for the price. There are two ways to fix it--put some make-up on the home or lower the price!

My advice is to take the time to get your home ready prior to putting it on the market. It's a price war and a beauty contest out there.

Tom Branch, Broker, CDPE, SFR

Photo licensed from ShutterStock

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/13/its-a-price-war-and-a-beauty-contest/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

53 comments • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 13 2012 10:58PM

Acreage Homes For Sale in Lovejoy ISD

Lovejoy ISD in Collin County has become a very desirable school district. There are homes in Allen, Lucas, Fairview and McKinney zoned to Lovejoy ISD. According to the school district website, "Lovejoy ISD is an exemplary district serving students in Fairview, Lucas, and Allen, Texas. The Lovejoy Independent School District includes Lovejoy High School, Sloan Creek Middle School, and Hart, Lovejoy, and Puster elementary schools."

While the exemplary school district is a major draw, this is one of the best areas for homes on acreage located with easy access to the DFW Metroplex.

Click here to see Acreage Homes For Sale Zoned to Lovejoy ISD.

 Tom Branch, Broker, CDPE, SFR

Photo Copyright 2010 Imaged2Sell

Orignally posted at http://www.thebranchteam.com/wordpress/2012/02/04/acreage-homes-for-sale-in-lovejoy-isd/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follwo Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963 

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

1 comment • Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 • February 04 2012 04:16PM