North Texas Real Estate News, Information and Trends

Covering everything from national and local market statistics to buying or selling a home. Homebuyer or Selling a home, please reach out to us if you have any questions. Let's Talk!

Brian and Melinda Stitzinger

Joyce Sutherland

 

April 1, 2021

How to Design a Home Office You’ll Love

If you’re running a business out of your home, you need a legitimate workspace. Owning and managing a small business is hard work, to say the least, so it’s critical to make a place where you can stay focused and productive in your everyday tasks. Whether you choose to renovate your current home or buy a new one with the help of realtors Brian and Melinda Stitzinger, here is some practical advice for making an awesome home office that you’ll cherish for years to come:

Image via Unsplash

 WHAT TO DO

 If you're trying to decide whether to renovate or buy new, here are some factors to consider:

Renovating

Renovations can go a long way in transforming your home. But they can also be expensive. Think about where you can put your office so that it provides you physical separation from the primary living areas in your home. If you have an available spare bedroom, garage, or basement, for instance, it might be worth investing in a little bit of remodeling.

However, be mindful of the costs. If there will be a lot of demolition and building involved or if it is going to be difficult to create enough space for your office, it might be wise to look for a new home. 

Buying New

If your business plays a significant role in your life, especially financially, then buying a new home that provides the space you need to flourish could be the best investment you make. And by working with a top-notch agent who is mindful of your needs, you can set yourself up for a stress-free home buying process that you feel good about.  

Furthermore, figure out what business structure you will use for your new business. If you choose an LLC, you may be able to write off the parts of your home you’re using for your business, among many other benefits. However, forming an LLC can be complex, and each state has different rules and regulations. Make sure you understand the requirements, and think about hiring a formation service to avoid expensive lawyer bills.

DESIGNING YOUR HOME OFFICE

Once you know where your home office is going, consider these brief tips as you figure out the design:

Take in the View

If possible, set up your office in a space with windows. Not only will this provide the health benefits of working in sunlight (including boosted productivity), but it will simply do your mind good to look out and see nature.

Stay Organized

Look into the wide variety of attractive storage solutions that can help you maximize space. For instance, floating shelves are great for keeping equipment and other items out of the way, while vertical file organizers look great on desks and will keep essential papers and documents easily accessible.

Go With Your Favorite Color

One of the main perks of working out of your home is that you have the freedom to make your office look exactly like you want it to. This means that you can paint the walls something more exciting than white. Go with a color that inspires you, whether it’s deep blue, pale orange, lime green, or whatever your favorite shade is.

Choose Beautiful, Functional Furniture

You don’t have to settle for boring office furniture either. Look for pieces that are beautiful and functional, whether that means using a similar style of furniture as the rest of your home or going with a completely different style. If nothing else, make sure you have a high-quality ergonomic chair and desk that will allow you to work comfortably and productively, day in and day out.

Having a workspace you love is essential when you own a home-based business. Carefully determine whether you should renovate your current home or invest in a new home that better meets your business needs. Try to set up your home office in a room with windows, and find attractive storage solutions. Lastly, get creative with the wall color, and look for furniture that both adds appeal and function to the space 

Start your stress-free home buying search in North Texas by reaching out to Brian and Melinda Stitzinger today!

Start your stress-free home buying search in North Texas by reaching out to Brian and Melinda Stitzinger today!

Special thanks goes to Tina Martin at ideaspired.com for providing us this article, her knowledge and her expertise. Thank you Tina!

 

March 9, 2021

Things Buyers and Sellers Need To Know About Foundation Repair Part 2 Home Sellers

For Sellers  Part 2

1.     Fix foundation issues before listing.

 

As a seller, it can be stressful and frustrating to find out the home you have put for sale has a foundation problem. In some cases, it can even be a deal-breaker. That’s why it’s important to have your home inspected before considering putting it up for sale.

So, if you have doubts about the structural integrity of your home, consider having it inspected before putting it up for sale. Doing this can make the difference between a successful sale and an unsuccessful one.

2.     Understand that some concessions may be necessary.

 

If your home has been found to have foundation issues, then be ready to make some concessions. Your ability to make them will make a huge impact on how slowly or quickly you’re able to make the sale.

First and foremost, you need to be willing to price the home accordingly. How much to reduce it will again depend on the severity of the foundation problem. But generally speaking, expect to reduce the home’s value anywhere between 10-15% if it has a foundation problem.

That means that if you had priced the home at $400,000, then expect to shave off up to $60,000 off of the price.

Secondly, you may choose to invest some of your money to fix the issues. This can be both costly and time-consuming.

And thirdly, understand that the repair records will be part of the property’s records. This can dramatically reduce the interest of potential buyers.

Buying or selling a home needing foundation repairs is possible. If you are a buyer, always insist on a professional inspection and then make the decision based on the outcome. As for sellers, having a home with foundation problems isn’t a deal-breaker. Just have the will to make a few concessions.

Read Part One Foundation Repair for Home Buyers

For more information about Foundations and Foundation Repair contact Granite Foundation Repair   214 865 8609  Locations for #granitefoundationrepair are Plano, Arlington, Rowlett, and Dallas Texas.

For information about home search in Homes for Sale in Frisco Texas, Homes for Sale in Little Elm Texas, Homes for Sale in Prosper Texas, Homes for Sale in Celina Texas, Homes for Sale in McKinney Texas, and many other places in North Texas. Let us help with your home search!

March 9, 2021

Things Buyers and Sellers Need To Know About Foundation Repair Part 1 Home Buyers

 Part 1 Home Buyers

 

 

Whether buying or selling a house, it’s important to pay particular attention to the home’s foundation. After all, it’s what everything above it rests upon. So, if it’s compromised, the entire home becomes structurally unsound and, at worst, may come crumbling down.

In this article, we’ll share 6 things both buyers and sellers need to know regarding foundation repairs.

For Buyers

1.      Insist on a home inspection.


As a potential homebuyer, having a home inspection is an absolute must. As a matter of fact, 9 in every 10 home sales involve a house inspection. This is at least according to the American Society of Home Inspectors.

A home inspection can help reveal underlying structural issues, including foundation problems. Foundation issues are not always easy to spot with an untrained eye; and yet, they can cause significant damage to your property over time if left unattended.

 The following are some common signs of foundation problems to be in the lookout for.

  • Improperly functioning doors and windows
  • Separation of windows, doors, and walls
  • Sloping staircases or floors
  • Cracked drywall over the door frame
  • Gaps appearing between wall seams
  • Appearance of stair-step cracks in masonry joints
  • Appearance of cracks in the walls

If you notice any of these issues, have them investigated further. An experienced foundation repair specialist will examine them and offer you helpful advice.

2.     Understand the extent of the damage.

Once your potential home has been inspected, make a point to determine the extent of the problem. Not all foundation problems are created equal. It is possible to have a minor problem in a foundation a century old, and a major issue is one that’s been around for just 10 years or so.

As you’d expect, fixing major foundation issues doesn’t come cheap. It usually costs anywhere between $20,000 and $100,000 depending on how bad the problem is. If, as a buyer, you encounter a home with a major problem, it may be wise to just walk away.

Besides the cost factor, serious foundation problems can be very time-consuming.

Minor foundation issues, on the other hand, shouldn’t typically be a cause for concern. They are inexpensive and don’t take long to fix. So, if you really like the home and understand any potential risks, then consider fixing the issues.

3.     There may be financing challenges.

Even when you are willing to buy a home with foundation issues, getting finance can prove to be a problem. More so, from conventional lenders like banks who typically don’t provide financing for structurally unsound homes.

And even in the rarest circumstance that they do agree to finance your loan, you risk being subjected to higher interest rates.

Be that as it may, you may still be able to get financing from alternative methods.

4.     Include the appropriate contingency clauses.

So, you have found a home that you really like, and although the home has a foundation problem, you are still willing to put in an offer. Well, in such a case, consider working with an agent. This can help ensure you have all the appropriate contingencies in place.

These contingencies will ensure you have ample room to wiggle out of the deal should a problem arise later.

READ PART 2 FOR SELLERS

For more information about Foundations and Foundation Repair contact Granite Foundation Repair   214 865 8609  Locations for #granitefoundationrepair are Plano, Arlington, Rowlett, and Dallas Texas.

For information about home search in Homes for Sale in Frisco Texas, Homes for Sale in Little Elm Texas, Homes for Sale in Prosper Texas, Homes for Sale in Celina Texas, Homes for Sale in McKinney Texas, and many other places in North Texas. Let us help with your home search!

March 4, 2021

Renting a Home, You Can Probably Own a Home

Did you know that if you can afford to rent, you can probably afford to own?

Here are three basic factors for qualifying for a home loan:

  • Income - If you have a job or steady source of income, you're off to a great start.
  • Down Payment - Many programs will work with 5%, 3.5%, and in some cases, even 0% down. Sometimes, closing costs can be paid for you as well.
  • Credit – Even if there are a couple of dings on your credit report, there’s probably a loan program for you.

That's it. These three items are the fundamentals of mortgage lending. If you work and pay your bills on time, you may already be well on your way to homeownership.

Now, would you like to see how far your rent payment might go when applied to principal and interest in a mortgage payment? Contact us today!

Homes for Sale in Frisco Texas, Homes for Sale in Little Elm Texas, Homes for Sale in Prosper Texas, Homes for Sale in Celina Texas, Homes for Sale in McKinney Texas, and many other places in North Texas. Let us help with your home search!

 

Feb. 18, 2021

Hey Millennials: Is It Time to Buy a Bigger Home?

All eyes are on millennials in the current housing market. Millennials are the largest generation and also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending much more time at home these days, you may have a growing need for more space or upgraded features, making moving more desirable than ever.

For those millennials who already own a home, there’s a great opportunity to move up in 2021. Danielle Hale, Chief Economist at realtor.com: “Older millennials will be trade-up buyers with many having owned their first homes long enough to see substantial equity gains.” Homes for sale in Frisco Texas, Homes for Sale in Prosper Texas, Homes for sale in Little Elm Texas and Homes for sale in Dallas Texas 

Even if you bought a home sometime in the last few years, you may have more equity than you realize. That’s a big factor to consider when you’re thinking about moving. 

According to the Homeowner Equity Insights Report from CoreLogic: “In the third quarter of 2020, the average homeowner gained approximately $17,000 in equity during the past year. This marks the largest average equity gain since the first quarter of 2014.”

Growing equity can fund your next move, especially if what you need in a home is changing right now. As equity builds over time, it can be put toward the down payment on your next home.

In addition to equity gains, today’s housing market affordability is powered by record-low mortgage rates, so moving at a time when you can get more for your money may be more realistic than you think.

Bottom Line

If you’re a millennial thinking about moving this year, you’re not alone. Let’s talk about the equity you have in your current home and the opportunities it can create.

Brian and Melinda Stitzinger The Stitzinger Team 214 566 0075

Feb. 12, 2021

I’m waiting for Home Prices to Fall, maybe Next Year

Here are my thoughts about the current housing market and some waiting until home prices fall before they get into the housing market, start to look and eventually buy a home.

Land is a limited commodity especially in areas that are close to businesses, shopping, highways, sporting venues, etc. The less available land the higher the prices. As homes continue to move out of the local developed areas and into more rural areas, land is absorbed.

As land is absorbed by lower-priced homes the only builder that can and will build are higher priced builders. Do you want to wait until the location you wish to live is out of your reach? Homes for sale in Frisco, Homes for sale in Aubrey, Homes for sale in Prosper, Homes for sale in Little Elm are at a premium.

Lumber prices have skyrocketed as the pandemic has affected lumber production and lack of new contracts with Canada have not been agreed upon.

Appliances are in short supply. Have you tried to buy a frig from Nebraska Furniture Mart? You will be waiting so hopefully you are not a great need of a new fridge or cooktop.

Build time has increased as supplies are taking longer to be delivered and tradespeople are in short supply.

Want more information and a plan to address your housing needs and potential purchase of a home, Let’s Talk. There are many variables, waiting for the right time and right home may not be one of them.

 

 

Feb. 3, 2021

Home Down Payment You Don't Need 20%

Don’t let down payment myths hold you back from buying a home this year. In reality, there are options out there that...

Posted by Brian & Melinda "The Stitzinger Team" Realtors,DFW Real Estate Agents on Wednesday, February 3, 2021

Jan. 28, 2021

Dallas Fort Worth Monthly Local Housing Stats

Monthly Local Housing Stats. Here is a look back at this month's housing stats for Dallas Fort Worth

Jan. 27, 2021

Home Purchase What’s the Difference between an Appraisal and a Home Inspection?

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.

 

Home Appraisal

The National Association of Realtors (NAR) explains:

 

“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”

 

There are two ways to determine the market value of a home. A comparable market analysis done by a licensed Realtor® and an appriasal by a licensed appraiser. When buying a home with a mortgage, an unbiased appraisal,(which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will be required by the lender.

 

This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.

 

However, the lender will only allow the buyer to borrow up to a percentage of the value of the home. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your Realtor® will help you navigate any additional negotiations in the buying process. In any purchase, your Realtor® should be honest to provide comps that justify your offer price. 

 

Home Inspection

Here’s the key difference between an appraisal and an inspection. MSN explains:

 

“In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”

 

The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.

Bottom Line

The appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire homebuying process.

Jan. 19, 2021

2021 and Expectations of Home Values

According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained:

 

“Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.

 

While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.”

 

Where will home values go in 2021?

Home price appreciation in 2021 will continue to be determined by the imbalance of supply and demand. If supply remains low and demand is high, prices will continue to increase.

 

Housing Supply

According to the National Association of Realtors (NAR), the current number of single-family homes nationwide for sale is 1,080,000. At the same time last year, that number stood at 1,450,000. We are entering 2021 with approximately 370,000 fewer homes for sale than there were one year ago.

 

The current number of homes for sale in the Dallas Fort Worth area is 3800 single-family homes.

What Does 2021 Have in Store for Home Values? | MyKCM

There is the possibility inventory will ease as we move through the new year for two reasons:

 

1. As the virus eases and vaccine becomes available, more homeowners will be comfortable putting their houses on the market.

 

2. Some households impacted financially by the pandemic will be forced to sell.

 

Housing Demand

Low mortgage rates have driven buyer demand over the last twelve months. According to Freddie Mac, rates stood at 3.72% at the beginning of 2020. Today, we’re starting 2021 with rates one full percentage point lower than that. Low rates create a great opportunity for homebuyers, which is one reason why demand is expected to remain high throughout the new year.

 

Bottom Line

There’s still a very limited number of homes for sale in the Dallas Fort worth area, homes for sale in Frisco Texas, Prosper Texas homes for sale, Aubrey homes for sale may still remain low. “Supply and demand” mandates that home values in the country will continue to appreciate. Frisco homes for sale, Prosper homes for sale, Celina homes for sale, Little Elm home for sale Call Us Brian & Melinda Stitzinger Realtors® Real Estate Agents