Dallas Real Estate and Short Sale Blog

Congratulations, you finally have a contract on your house! You have successfully jumped one hurdle, but another big one is headed your way – the home inspection. Some sellers look around and don’t see anything really wrong with their house, so they are quite surprised when they get a huge list of requested repairs as a result of the inspection.

You and I see our houses every day, but an inspector comes in with a fresh set of eyes trained to look for specific things. While some of these items don’t seem like a big deal, an inspector is required to report them if not in proper working condition. A long list like this may send a message to the buyer that your house has not been well-maintained. Here’s a list of easy fixes you should address before putting your house on the market, and especially before the inspection:

1. Replace batteries in all smoke detectors.
2. Replace missing or broken switch and outlet cover plates.
3. Repair leaky faucets.
4. Tighten loose doorknobs.
5. Repair or replace outdoor weather stripping.
6. Caulk doors and windows at the exterior brick or siding.
7. Replace damaged or missing window screens.
8. Replace broken window seals in doors and windows.
9. Replace burned out light bulbs.
10. Secure loose hand and stair railings.
11. Patch holes and cracks in walls and ceilings – then repaint.
12. Replace heating & A/C filters.

It’s always best to take care of these deferred maintenance items before the house goes on the market. And don’t forget the lawn – curb appeal is extremely important and is the potential buyer’s first impression.

*List provided by The Kissee Home Inspection Team. | Photo licensed from iStockPhoto

Source: http://www.thebranchteam.com/wordpress/2011/03/01/top-12-easy-fixes-before-home-inspection/

I was looking in my site logs for the past week and noted a hit on my website from Google using, “CB JENI Homes Are Bad” as keywords. Really?

Full disclosure…I am the exclusive listing broker for CB JENI Homes.

To date, CB JENI Homes purchased three subdivisions out of previous builder’s bankruptcies; Wyndsor Court in Richardson, The Enclaves at Willow Crest in Plano, and The Estates of Willow Crest in Plano. They have taken incomplete subdivisions and brought them back to life. This has had a positive impact on the subdivisions and preserves property values for current homeowners.

I’ve been there since the beginning and the latest construction may be the best I’ve seen to date. Quality design and solid construction results in a superior product.

Worried about warranties? Don’t be. All homes and townhomes come with a one-year general warranty, two-year major systems warranty, and a ten-year structural warranty from a third-party insurer.

The meltdown that started in 2008 caused many builders to close their doors and file bankruptcy. As we move forward, new builders will come forward to fill the void. Completing previously abandoned subdivisions should be seen as a good thing for both the current homeowners and new home buyers.

Come out and take a look for yourself at the quality construction and attention to detail of CB JENI Homes and then decide for yourself.

Visit The Enclaves at Willow Crest site or The Estates of Willow Crest site for more information on CB JENI subdivisions in Plano, Texas.

Photo Copyright 2011 - Imaged2Sell

Source: http://www.thebranchteam.com/wordpress/2011/02/08/cb-jeni-homes-are-bad%e2%80%a6really/

Pre-opening prices are now available at the new Legacy Town Center near The Shops at Legacy in Plano, just east of the Dallas North Tollway. 15 units have already pre-sold! This 115-unit DR Horton development features 6 two and three bedroom floor plans up to 2,100 square feet. All homes include hardwood floors in the entry and living room. The gourmet kitchens feature custom maple glaze cabinets, granite countertops, and stainless steel appliances. Even the fridge is included!

A unique option for buyers is a covered roof deck – perfect for entertaining or just taking in the sights and sounds of this urban lifestyle center. The luxury 2 ½- story units offer media and game rooms on the top level which could also be converted to a fourth bedroom.

Legacy Town Center starts in the $220s and special pre-opening pricing is now available. The model home will open mid-February and a Grand Pre-Opening for the community is set for February 24. Within walking distance is The Shops at Legacy, an urban retail oasis with unique shopping and award-winning restaurants and lounges.

Search for Plano Texas Townhomes For Sale.

Source: http://www.thebranchteam.com/wordpress/2011/02/03/luxury-townhomes-at-legacy-town-center-preselling-fast/

3 Bedrooms | 2.1 Baths | 2-Car Garage | 1948 SF/Tax

Plano TX Townhome For Sale - Former Portrait Model Home with lots of upgrades. Custom window coverings and bathroom shower curtains. Gourmet kitchen with breakfast bar, upgraded cabinets, Corian, black appliances, and gas range. Study with French doors. 8 ft Knotty Alder front door with wrought iron speakeasy. Enclosed private patio with gas for BBQ. Full service HOA for low maintenance living with pools, park, and playground. Easy access to 121 and Dallas North Tollway.

Plano Texas Townhome For Sale for Current Pricing, Details, Photos, and Virtual Tour.

Source: http://www.thebranchteam.com/wordpress/2011/02/01/plano-tx-townhome-for-sale-4675-cecile/

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

 

Ridgeview Ranch is a master planned golf course development of about 885 homes located in the heart of north Plano. The community consists of four distinct communities - The Villages at Ridgeview Ranch, The Estates of Ridgeview Ranch, The Manors at Ridgeview Ranch, and Ridgeview Ranch West. Community amenities include two pools, a fitness center, playgrounds, parks, and the Ridgeview Ranch Golf Course. The original homebuider for the development was Centex Homes.

We recently produced a virtual tour showcasing Ridgeview Ranch in Plano, TX.

Click Photo to Launch the Ridgeview Ranch Virtual Tour

Tom and Gina Branch are residents of Ridgeview Ranch. Tom serves as the Director at Large on the Ridgeview Ranch Homeowners Association.

Visit the ActiveRain Ridgeview Ranch Community Page.

Click to view Ridgeview Ranch Homes for Sale.

3 Bedrooms | 2.1 Baths | 2-Car Garage | 2319 SF/Builder

Plano TX Townhomes For Sale - Stunning new construction with stone exterior. Gourmet island kitchen with oversized breakfast bar, granite counters, tumbled marble back splash, stainless appliances, and gas cook top. Designer touches include art niche, bull nose corners, brushed nickel fixtures, and iron balusters. Second living area perfect for game room. Enclosed patio with gas. Full service HOA for low maintenance living.

Current status, pricing, photos, and a virtual tour for this Plano TX Townhome for Sale.

Source: NTREIS | Photo Copyright 2011 - Imaged2Sell

The phone rang in the office this morning. I had just walked in and grabbed the call. I introduced myself and asked the caller what I could do for them. “We saw the house you have for sale at 123 Anywhere and we want to place a bid on it” the caller stated.

I ran through my usual questions:

“Are you working with an agent?” – “No, we don’t have an agent.”

“Have you seen the house?” – “No, but we want to place a bid!”

“Are you paying cash or have you been preapproved for a mortgage?” – “We’ll need a loan but we can take care of that next week.”

“Are you aware that this is a Short Sale property and make take some time to get bank approval?” – “It’s a foreclosure?”

I was holding a power-hour open house later, so I suggested they stop by and take a look. This house is priced well below market because it needs extensive work. Personally, I think financing is going to be a problem because of structural issues.

But none of this is what really got to me today. It’s the eBay mentality that appears to be taking over our industry. The only listings where I can place a “bid” are HUD Foreclosures. HUD Foreclosures are sold using a sealed bid auction format.

Every one of my 36 listings is “for sale” and I’m not running a reserved price auction. Yes, price and terms are negotiable but I expect buyers to make offers on a property by completing the proper contracts, being able to show reasonable earnest money, and proof of funds or a mortgage pre-approval from a reputable lender. When I’m working with buyers, I explain this to them if they talk about placing a “bid” on a property.

It’s not just the clients either. I hear Buyers Agents talk about placing bids on properties all the time.

Why do I think we need to make sure that buyers are not in “bid” mode?

While there are many issues, many buyers expect to be able to cancel their "bid" at any time without ramification. I had a buyer on one of my listings who decided to back out at the last minute. To make matters worse, the agent calls asking us to release the earnest money back to the buyer so they can use it for another property! This is not just a non-performing bidder email and a negative feedback situation. There can be serious legal and financial consequences.

How did we get here? Perhaps it’s a combination of the run-up mentality leading up to the melt-down in 2008 and a generation that has grown up purchasing things through auction sites. Regardless of the reasons, little real estate is sold in auction format and it’s critical to understand the implications of entering into a contract.



Photo Licensed from iStockPhoto

Source: http://www.thebranchteam.com/wordpress/2011/01/08/we-want-to-place-a-bid-on-that-house/