Welcome Home! This charming historic home located in Lakewood invites you to see all the beauty. Built by a Doctor for his bride, it has been wonderfully preserved yet has a modern overlay like an updated kitchen, pool, and 600 square foot quarters located on 1/2 acre of prime real estate. This 3 bedroom 2 1/2 bath, 2969 square foot home has been reduced to $675,000. Come visit this home Sunday April 1st from 2-4pm.
The recent housing market news shows that construction spending is up, and lending should shortly follow—a good sign for potential home buyers.
According to the U.S. Census Bureau of the Department of Commerce, residential construction spending rose 0.8 percent above the revised November estimate, to a seasonally adjusted annual rate of $241.2 billion—4.3 percent above the December 2010 estimate. In an ideal market, an increase in residential construction spending will lead to an increase in new-home sales. More builders believe that an increase in sales isn’t far off; according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builders of single-family homes have more confidence in their segment of the real estate market. The HMI climbed for the fourth consecutive month to a score of 25, the highest level seen since June 2007. Moreover, the rise in builder confidence was reported, to varying degrees, in every region of the country.
The market, however, has a long way to go. While the current HMI score is higher than the scores posted in the first half of 2011, it is still considered low; a number over 50 indicates more builders than not see market conditions as favorable. Low appraisals, an increase in the number of foreclosures hitting the market, and potential buyers being turned down for a mortgage could stall the HMI’s upward progress.
As long as banks maintain their current lending standards instead of restricting them, potential buyers will qualify for those mortgages. Fortunately, the January 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices shows that the lending standards for loans to purchase residential real estate saw little change in the fourth quarter of 2011. Banks didn’t tighten their lending standards, meaning anyone looking to qualify for a mortgage over the next few months will stand a better chance of being approved.
Recent news from the Fed should also ease the mortgage fears of potential buyers. The Federal Open Market Committee plans to keep the federal funds rate low through the end of 2014. Given the instability in global financial markets, the FOMC will keep the federal funds target range between 0 and 1/4 percent to encourage price stability in the American economy. This decision directly impacts home buyers looking for a mortgage. A low federal funds rate encourages banks to borrow money and, in turn, invest. A potential buyer with a good credit score and a reasonable down payment is a good investment for a bank.
Disclose, Disclose, Disclose! Yes this should be disclosed on your seller’s disclosure, and yes it should be documented, and then remediate, however the after photos should appear in MLS in order to sell your home! Really are you seriously hiring a REALTOR® that has your best interest in mind, think about it.
Call me anytime! I would love to help!
I received the designation of Historic House Specialist from the Dallas Preservation Society. Why is this a benefit? #1 it provides me the skills and knowledge to accurately describe the architectural style and design of your home when I am listing it on MLS.#2 it provides me with the skills and knowledge to successfully market your home and the area in which it is located. #3 it provides me with a way to research your current or future home for historic details and design options. Overall the biggest benefit to my clients is my knowledge and some of the little known benefits of owning a home in a historic or conservation district, the best benefit is a tax credit for renovations totaling 25% of the sales price which qualifies the property a 10 year credit on the Dallas County portion of their taxes. The catch is you have to fill out the addendum that comes with your taxes and check the box for yes, in order to receive that credit, but it is a small price to pay in the long run for a huge savings!
Call me anytime! I am never too busy to help!
Most people know they need to clean and declutter when they want to sell their home. They put pots of flowers on the front porch and bake cookies. But they still miss sales by failing to fine-tune the presentation. Here are six things you can do to make your home stand out:
1. Get an honest evaluation. Invite an acquaintance who’s never seen your home to give you a brutally honest evaluation. People who’ve been in their homes for years don’t notice problems that are glaringly obvious to a newcomer. Ask your real estate agent for suggestions on home updates.
2. Don’t forget the pops of color. Yes, you should neutralize your walls so the buyers can picture themselves in your home. But if there is no color anywhere, your home will look bland and boring. These homes tend to look especially bad in internet photos. The trick is to add the color in things that don’t stay and aren’t too large—a brightly colored cloth on a small table, some eye-catching throw pillows, or some pretty placemats. In very neutral schemes where color might be out of place, add interest with texture, shape, and line.
3. Face the fireplace. Most buyers want a fireplace and will pay extra for it, yet furniture is often faced away from the fireplace. Worse yet, some people actually place furniture so it blocks the fireplace. Always place furniture so it calls attention to this and other attractive features.
4. Add a contemporary vibe. Even in a traditional house, a few more contemporary pieces will make your house look like it’s been updated and well cared for. If all your furniture is old fashioned, it’ll look dated, which tends to turn buyers off. Adding some big glass vases with simple, bold shapes or some massive pillar candles in contemporary holders can give a traditional house an up-to-date flair.
5. Anticipate objections. If your furnace is very old, hire a technician to clean and inspect it, and place the work order where the buyers will see it. If there is an obvious problem that you don’t want to fix, get several estimates on the cost of repairing it and make the lowest one available to your buyers.
6. Outshine the competition. Browse home design magazines, and adopt an idea or two. Stealing ideas from professional decorators can make your house look stunning for very little money.
We will cover a large area encompassing many great neighborhoods including, Lakewood, Lake Highlands, Park Cities, Preston Hollow, Uptown, and Oak Lawn just to name a few. All of these areas have one thing in common, and that is they are located inside of I-635 or LBJ freeway. What do all of these areas have in common, well as we have already established; Location! Location! Location!