The next step in your home buying process is to hire a professional. You know, someone who actually knows what they are doing in real estate. I mean a real professional. A good REALTOR will save you time, money and avoid potentially huge legal or financial issues.

On a side note, do you have any idea why its written in all caps? You know REALTOR, its because its a trademarked name. Oh and its pronounced REAL-TOR, two syllables, not three. I know, no one really cares, but being accurate is part of my job…

Folks, pick a good one, I mean a full time agent who actually buys and sells for a living. You do not want an inexperienced agent or someone who does a couple of transactions a year representing you. Its like having a dentist clap his hands in glee as you sit in his chair and say, ‘Oh boy, I have always wanted to do a root canal’. You really don’t want to be that person…

Now my last point is: How does a buyers agent get paid? You do not pay us directly. Our fee comes from the sellers and we get paid at the time we close on the home.

Do you want your largest financial purchase to be where your agent is learning? Probably not, its your financial future and its your call. Choose wisely…

http://www.youtube.com/watch?v=-uZ6O19-Gac

So you think your ready to buy a house. You have the desire, a little money saved up, good credit and a can do attitude. Your no expert, but how hard can it be right? Well lets find out, join us in our ten part video series on buying a home and when your finished many questions will have been answered and you will feel much more in control of the process.

Step 1, begins the process by getting you to think about your needs vs. wants and putting them on paper. You need to be very focused in your home buying efforts. If you know your requirements and narrow your search to just a few areas you will have a much better experience and feel far less frustrated.

So sit back, relax, and lets get started…

http://www.youtube.com/watch?v=-aYFaIJZZnc

Property Description – MLS #: 11757414

Discover the charm and class of this updated 4 bed home! Updates include wood floors, light fixtures, roof, and remodeled master shower. Spacious kitchen showcases updated stainless steel appliances, refinished cabinets, ceramic tile floors, corian counter tops, breakfast nook, bar, an abundance of storage. Home offers separate study with French doors, oversized game room, living, dining, open floor plan. Covered front porch and stamped concrete patio add to the charm. Residents enjoy community pool and great McKinney schools.

Video

http://www.youtube.com/watch?v=3s3UODt2bh4

Homes Available in Eldorado Heights

Property Description – MLS #: 11757414

Discover this charming, clean and move-in-ready 1 story home! It welcomes you with a covered porch, fresh mulch and nice landscaping. Home features laminate wood floors, fresh int & ext paint, & an open flr plan. Kitchen offers white cabs, white appl, an island, and breakast nook. Enjoy the shade under the covrd back porch durin a summer bbq. Zoned for great McKinney schools and conviently located near Hwy 75 & 380, dining, & shopping.

Price: $125,000
Square Ft: 1444
Bedrooms: 3
Bathrooms: 2
Subdivision: HighPointe

Video

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Homes Available in HighPointe

Property Description – MLS #:  11749341

Updates galore, a sparkling pool and a great floor plan in Stonegate, a gated sub-division of McKinney. The home features hardwood floors, fresh carpet, and updated lighting. A stunning kitchen showcases new stainless steel appliances, white cabinets, double oven, neutral paint, breakfast nook, built-in desk, and ceramic tile floors. The master bath was remodeled with tiled shower, glass enclosure, ceramic tiled floors, satin nickel hardware. The backyard invites you to enjoy an oasis with a pergola, pavestone patio, and sparkling pool. The children of Stonegate attend the great McKinney ISD.

Video

http://www.youtube.com/watch?v=FDVD9fWXDaE

Homes Available in Stonegate

Welcome To Texas

I live in the great state of Texas! Where it gets hot, I mean really hot. Last summer we had 100 days where the temp was over 100 degrees. You know the kind of heat that keeps everyone inside for most of the day. The kind of heat that makes even me stop wearing the jacket and tie and opt for a sports shirt. I mean serious heat.

Texans are known for they’re welcoming nature. We love welcoming new folks to our great state. You know the kind of saying: ‘you may not have been born here, but you got here just as fast as you could’. We also like to tease folks from out of state, especially from up north. They always tell us how excited they are to move to a ‘warmer’ climate. Yea right… Well, welcome to Texas ya’ll. You think its warm now in April at 85 degrees wait till ‘hell on earth’, I mean August gets here…

Well you do have one option, a swimming pool. Thats right, they are worth every penny here in Texas. Well, they are worth every penny if you know what you’re doing when you build one and I am going to help you save some coin when you build your pool. Oh, come on, its gonna be great!

Go Big or Go Home

Great you have decided to build a money pit, I mean a swimming pool. So the first question is how big should it be and what shape? Come on its Texas, make it big!

Well, the practical reality is that every square foot of pool costs money. The width and length of the pool is one price, but going deeper costs a different fee. It’s simply more expensive to dig down, especially rock. It also takes more money to structurally build a deeper pool. The dimensions and depth of the pool determine the number of gallons the pool will hold. It’s a very complex math formula to determine the gallon capacity of a pool, but your builder has a computer program to do it. There are also some types of locations for your pool that will limit its size or depth, typically: easements, right of ways, retaining walls or foundational issues.

Decisions, Decisions, Decisions…

Ok, lets get to the hard part. Deciding what you want. Since your new to this I will ask you some questions that you need to answer. Once you have your answers you can present them to the pool company salesman and he can have their designer draw up a sketch and they can bid the job from the sketch. Ok, lets get started.

• Where in the yard do you want the pool to be?
• What are the rough dimensions of the pool in the selected location?
• What style of pool do you want? (google it, there are tons)
• Do you want a heated spa?
• Do you want the pool heated?
• Do you want the spa elevated?
• Do you want any water features? (google these too)
• Do you want a tanning ledge?
• Do you want LED lighting?
• Do you want a wireless control for the pool?
• Do you want a salt water pool? (I recommend them)
• Do you want decking, if so how much? (Decking is the concrete or stone around the pool you walk on)
• Do you want an outdoor kitchen?
• What do you want in the kitchen? Grill, Smoker, Fridge, Sink, Lights?
• Do you want an outdoor shower? (awesome for rinsing off after a swim)
• Do you want them to do any landscaping?
• Do you want an O3 generator? (oxygenated water is supposedly softer)

How to get the best price?

Ok, here is the real meat and potatoes of the post. When you build a pool during the spring or summer you are paying top dollar. Its when the demand is the highest and they are the busiest. What you need to do, is be very disciplined and build in the offseason. I know you want to swim now, but wait a little while and save a bundle.

We approached our builder in the fall and negotiated a 60k pool for 40k. We drove a hard bargain and we had three companies bid for the job. The key is to treat everyone honestly and be upfront about what you want. Tell them who they are bidding against and be as specific about your new pool as possible when you go in. Give them some room to be creative and help, but keep the pools as close as possible so you can accurately compare bids.

A quality builder will create drawings that show your backyard and the size and orientation of the pool with all the features. These will help you visualize your pool. Many times, seeing your pool for the first time causes you to either remove or add some features.

One of the most important aspects to keeping your costs down is to add the fewest features you can and still get the pool you want. Features on a pool are like options on a car. The more you add, the larger the cost. Those computer controlled LED lights that change color and pulse to the music are cool, but are they really worth the cost a few months down the road?

Our favorite features so far are the heated spa and the outdoor grill. We cook out all the time on it. We put an outdoor dinning table and chairs under the covered porch and grill all the time. The grownups sit in the heated spa with their favorite drink while the kids swim. We can spend the whole day doing this and well into the night.

Resale value (or lack of it)

Here is a hard truth for most of you, you will NOT recoup the cost of your pool on resale. I can base this statement on many facts. First, talk with any licensed appraiser and you will hear the same thing. Second, I have taken many of the same appraisal courses and use the same guidelines to appraise properties for resale. Third, I see it happen all the time in my local market. So here is the painful part.

Your pool value depreciates to about 20% of cost within the first 5 years.

So I can hear you all yelling at me over the internet, ‘Brent, what can we do?’. Well, don’t’ lose heart, if you have not purchased your home yet, then change what you’re looking for and buy a home with a pool. You will capitalize on someone else’s loss. The former owner built the pool and lost the money when selling it and you reap the benefits.

The primary benefit to having a pool at resale is a slight increase in value. Many people fall in love with the serene nature of a backyard with the sound of falling water and a clear, blue pool sparkling in our 100 Texas sun. So its not a total loss, it can help sell the home faster, but you will not get all of your money back.

(Not in any specific order)

• Robertson Pools
• Riverbend Pools
• Foley Pools

We recommend you contact all three and allow them to bid your job. Tell them we sent you and be clear that you are getting quotes from all three. Competition is healthy and it will definitely get you a better price. Please leave a comment below and I will be happy to answer it or give me a call if you need more personal answers.

For several years, the real estate market in Collin County has been a buyer’s market. It’s gone on so long that today’s buyer is still in the mindset that they may get a steal of a deal on a home. So you may be asking how and why this sudden change in the market. Well, we must go back to a lesson in simple economics, supply and demand. With historic low interest rates, right now is an incredible time to buy a home so there are many buyers searching for a new home. However, the number of homes available for sale has dramatically decreased compared to last year. In McKinney, the number of available homes for sale is down 33% compared to 2011. This results in high demand and short supply which in real estate translates to a what? You guessed it, a Seller’s Market!

This new creature which many of us are not used to has caused a slight increase in home values and shorter days on the market. In plain English, that means homes are selling faster and for more money. In fact, we are even encountering multiple offers not only on our own listings but also on homes that our buyers like.

So what does this mean for sellers? It means this is a great time to sell! Market Value is different for each neighborhood however so call us for a detailed Home Value Analysis to see where you stand. One neighborhood could be selling like hot cakes while another across the street is not. Location, condition, size of home, and features all play a big factor into market value.

And what does this mean for buyers? With interest rates so low, it is still a terrific time to buy a home. Your dollar simply goes farther which means you can afford more home for less money. However, you need to realize that in some neighborhoods homes are selling for asking price and sometimes more. If it is great home, in a great location, in great condition, don’t expect to win the sale with a low offer. Instead, you now need to expect that you may be competing with other buyers for the same house. And your best chance to win the sale is to bring your best offer.

For all you detail oriented people, here are some local real estate stats for McKinney, Allen, Frisco, & Prosper. For the rest of us that aren’t so detailed, I’ll sum it up by saying our local Collin County real estate market is definitely on the upswing. And I think we can all agree, this is really great news for our economy and a much needed improvement.

Neighborhood Market Watch

505 Heard Kitchen

Property Description – MLS #: 11741950

Welcome to this beautiful modern rendition of a historical prairie home. Nestled in the historical district of McKinney and built to reflect yesteryear, you’d never guess this home was built in 1999.

This home is a masterpiece of quality and design. It showcases hardwood floors, custom wooden window casings, solid doors, stained glass, neutral paint, & covered porches. The stunning kitchen showcases new granite counter tops, ceramic tile floors, an oversized island, farm sink, tile backsplash, custom built cabinets, and black appliances. It’s a cook’s delight with a gas cooktop and an abundance of storage. The breakfast nook features ceramic tile floors and a built-in desk area.

The master bedroom and bath have been updated with fresh paint and invite you for rest and relaxation. The master bath offers dual sinks, jetted tub, separate shower, white cabinets, and ceramic tile floors. Downstairs you’ll also find the family room, formal dining room, and oversized mudroom.

Venture upstairs to discover three bedrooms, two full bathrooms, and a game room. The spacious fourth bedroom could be a second master. Explore the third floor and you’ll find an unfinished bonus room that could easily become a media room or teenage retreat.

It only gets better as you walk out the back door and find covered porches, spacious yard, mature trees, plus a matching storage building and two-car garage. This beautiful homes sits on large quarter acre lot and has that one-of-a-kind charm, class, and style you’ve been looking for! Call The Wells at 972-439-5140 to schedule your personal tour!

Video

http://www.youtube.com/watch?v=6VRowyo7zrU

Homes Available in the Historical District

As you walk through the beautiful front door, the entry greets you with vaulted ceilings, wood floors, and a wrought-iron baluster staircase. The stunning kitchen showcases a gas cook-top with custom brick surround, stainless steel appliances, wood floors, custom built white cabinets, satin nickel hardware, and granite counter tops. The kitchen also features a large breakfast bar, built in desk area, spacious breakfast nook, and an abundance of storage. This home features stained plantation shutters on all windows, neutral paint, and ceiling fans.

Downstairs you’ll find the master bedroom with ceiling fan, neutral paint, and carpet. The master bath invites you to enjoy the garden tub, separate vanities, ceramic tile floors, and walk-in closet. The dining room, family room, powder bath, and formal living room are also located downstairs. Upstairs you’ll discover three bedrooms, one full bathroom, and a spacious game room.

The spacious backyard features a covered back patio (great for summer barbecues), nice landscaping, and plenty of room for a pool and play set. Sloan Creek Estates is a community that offers you both a “town & country” lifestyle. Residents enjoy jogging paths, private pond, creeks, and trees. It is also conveniently located near fine dining & shopping at the Village at Fairview and Allen.

That’s a great description but it can’t take the place of a real life tour. So this Sunday, May 15th stop on in to our Open House from 2-4pm. Brent will be waiting with a friendly smile, fresh cookies, and probably a good story or two. See you there soon!

Standard Disclaimer

Let me be very clear, this information will get stale like month old bread. Its current for April of 2012 in Collin County and beyond that, all bets are off.

Supply and Demand

Unfortunately there are many families that have lost their homes. Many of them want to stay in the same school district and really don’t want to move into an apartment. The only viable alternative is a lease home. As more people begin leasing homes, the supply is reduced. With more demand for nice homes and fewer of them available the price is going to increase. Its simple economics and what we are currently seeing.

It’s going to be continually more expensive and there will be less desirable properties available than over the last few years.

HousingWire recently quoted Paul Dales, senior economist with Capital Economics:

Cheap Money

Interest rates are extremely low right now and banks are lending money. If your credit score is 640 you can usually qualify for a FHA loan if you have a clean history. You will need your 3.5% down payment and other factors apply, but it’s a heck of a time to buy a home. You need to contact a mortgage expert to find out where you stand. If you have a few problem areas, don’t lose heart. Many times they can be addressed and quickly corrected. If you don’t have a mortgage agent, give us a call and we will point you in the right direction.

Short Sales and Foreclosures

You can increase your good fortune by combining a low-interest loan with the purchase of a foreclosure or a short sale. Either one of these types of purchases will be 20% less on average below an occupied home that is not in distress. You may need to do some repairs and updating, but who is afraid of a little sweat equity. Ok, that’s not fair; as I get older I like to do less of the heavy lifting and just hire it out. You need to determine what your comfortable with. Not everyone should purchase a home that needs lots of updating or repairs. Keep in mind a distressed property that is in awesome shape is not going to go for a huge discount. Usually you will have a home that needs work, lots of it.

Overall Cost

One huge advantage to purchasing a home right now is that it just costs less in the long run. When you lease a home, your monthly payment does not build you equity. When you purchase a home your build equity in that home.

So What Should I Do?

Only you can answer that question for your family. I will try to lead you in the right direction, but Caveat emptor.

1. If you do not have a minimum down payment of 3.5% in cash in the bank; buying is not for you.

2. If you do not have a minimum credit score of 640 buying may not be for you.

3. If you can not produce financial documentation and work history documentation; buying may not be for you.

4. If you have had a short-sale with in the last 2 years, a foreclosure within the last 7 or a bankruptcy; buying may not be for you.

5. If you are moving to a different area in the next year or two; buying might not be a good idea.

Now, if you have cleared all those items and are still with me, then it’s a great time to buy. Home prices are on the rise in many areas of Collin County. We are seeing homes sell for asking price and they are getting multiple offers, so don’t think you are going to low ball someone on a beautiful home and win. You won’t, its turning into a seller’s market, so don’t wait to long or you will lose this golden opportunity.

So right now its cheaper to buy than rent…

The good news is money is cheap, really cheap and that lets you buy more home for less. The are still tons of good deals out there, so pick up the phone and call us today and we will answer your questions and see if buying or leasing is the right option for you.

Well, I hope this helped some of you in making your decision. Owning a home is an amazing feeling, if there is anything Deb or I can do to help, just call…