Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.

Let’s take a look at Dallas Real Estate Sales Statistics to see how the recovery is progressing locally:

Dallas Real Estate Sales Statistics – Oct 2008

Home Sales: 3,079

Average Sales Price: $208,200

Median Sales Price: $154,300

Months Inventory: 6.1

Dallas Real Estate Sales Statistics – Oct 2009

Home Sales: 4,146

Average Sales Price: $195,600

Median Sales Price: $153,000

Months Inventory: 6.0

Search all Dallas real estate and homes for sale.

If you are moving to a Dallas home, you can, with prior planning and these tips, make your move a smooth, less stressful experience. After you have gathered recommendations from friends and checked out moving companies on the web, you should narrow your choices to three or four. At this point you can avoid moving mistakes by using these guidelines to make informed, intelligent choices.

1. Insist on an in-home survey and estimate. Movers have to actually see what needs to be moved and be aware of items requiring special attention, such as pianos or valued art pieces. In addition,, by meeting the mover’s representative in person, you can get a feel for the way customers are treated by the company. It is also important that you disclose at this time any details, such as elevator availability, street restrictions, etc., to avoid unpleasant surprises on moving day.

2. Beware of too low a price. While price is certainly a major consideration in making your selection, you need to question a low-ball estimate, Are there hidden charges? Is the firm reliable? Does it value your business? Is it a licensed, insured mover? Check the web at www.protectyourmove.com for this information and for a record of customer complaints.

3. Avoid the busy season. Good moving companies are especially busy in the summer and in the first and fourth weeks of the month. Plan ahead and reserve early to get the mover and time frame you want. Remember that the best deals can usually be found in the winter and in the second and third weeks of the month.

4. Sign a contract. Do not begin a move without first signing a binding agreement which spells out all the services you are to receive and the total amount you’ll be expected to pay. Do you have insurance options? What is the charge for that? If you’re not comfortable with the document, trust your instinct and don’t sign!

5. Have a budget. Be informed and realistic about your overall moving costs. Be sure to include travel to your Dallas home, any hotel and meals expenses, auto transport, and insurance.

6. Do unto others… Your movers will respond well to smiles and a positive attitude

They also appreciate offers of coffee, water, soft drinks, and tips for quality service.

Dallas has many reputable and reliable moving companies who want your business and will work with you to make your moving experience as stress-free as possible. By following these six steps, your relocation to your new Dallas home can actually be rewarding!

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You are selling your Dallas home and the first Open House only a week away. The house is filled with clutter and things you don’t want to throw away. But the clutter is not appealing to potential Dallas home buyers. What do you? Here are staging tips for an Open House. 

8 Staging Tips For A Dallas Open House 

1. Remove the clutter.

Having a garage sale is out when removing clutter because the Open House is only a week away. You don’t want to stuff the garage or closets to the gills either. One solution is to rent an off-site storage facility or stack boxes neatly in a basement or crawlspace. 

2. Stage each room. 

The first thing to do is clean from top to bottom. Make sure windows and light fixtures shine and are in working order. If the room is crowded, put some furniture in the storage facility. Finally, pick a focal point that will attract buyers when they see the room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano. 

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In today’s competitive housing market, buyers can afford to be selective. It is, therefore, up to the seller to anticipate the demands of the buyer and act accordingly. The ten strategies listed below will help you accommodate the buyer’s needs and make certain the selling process is a successful one.

1. Price sensibly. Listing too high initially is doubly dangerous. Price-savvy potential buyers will simply bypass your home in favor of more realistically priced Dallas real estate, thus limiting your market. In addition, you’ll have to lower your price eventually, possibly below market level, to capture their attention.

2. Utilize professional expertise. Far too many sellers come to regret their attempt to avoid a paying a sales commission when they are unable to generate widespread exposure on their own. To their dismay, they also find that potential buyers expect a far lower price on a FSBO.

3. Make needed repairs. Buyers want a home that is in good condition, up to date, and “move-in ready.” Be sure that all systems, the roof, appliances, etc., are in good working order and replace fixtures that look out-of-date.

4. Simplify the setting. Make room! Too much furniture makes rooms appear smaller, and too many accessories draw the buyer’s attention away from your home’s assets. De-clutter cupboards, counters, and other flat surfaces. Make space in your closets and storage areas, and allow for an open traffic pattern. Put away personal items. Buyers need to be able to visualize their own furniture and belongings in what could be “their” new home

5. Keep it clean! Odors and dirt are real turn-offs to potential buyers.

6. Provide curb appeal. The exterior of your home must invite buyers to come inside. Remove weeds, trim trees and bushes, present a healthy lawn, and maintain an attractive appearance at all times. Don’t forget power washing or repainting, if needed. Add a pot of colorful flowers and a new welcome mat for extra charm and a successful showing.

7. Allow for accessibility. The more showings of your Virginia Beach real estate you have, the greater the chance of a successful sale. Buyers want easy access to the homes they visit. Your realtor will help you make satisfactory arrangements for optimum availability, use of a lock box, advance notification, etc.

8. Stay away during showings. Buyers viewing your home need to take their time to thoroughly it and fee free to voice their reactions to the realtor. Also, if you’re not there, you can’t say anything which might hurt the prospect of a sale.

9. Avoid misrepresentation. Your realtor will advise you of local disclosure laws, and it is important that you comply with them. Attempts to hide a defect will only result in problems later on and may well derail a potential sale.

10. Be flexible. Selling you home can feel like a personal transaction, and sometimes emotions threaten to overshadow logic. Listen and react to all contract proposals as objectively as possible. Know in advance what your needs are re: price, which items convey, settlement time frame, etc. Try to keep in mind the big picture and resist getting hung up on the small things.

The sale of your home depends on both your realtor and you. By working as a team and utilizing the ten strategies outlined above, the process has a greater chance of being a productive and successful sale.

 For more information about selling Dallas real estate, visit TexasHomeCentral.com.

Find out what your Dallas real estate is worth?

The current economic climate has created an extremely competitive market for Dallas home sellers. High inventories and the abundance of deals on foreclosures puts to pressure on Dallas home sellers to have properties in showing condition and to be priced right. Many sellers want to initially price their property on the high end of the market and underestimate the costs of having a property sit on the market unsold. Maintenance costs, taxes and insurance are ongoing. Another thing to consider is the benefits of having invested the money that can be made with a fast sale vs. the cost of sitting on the market for a long period of time. 

The saying ‘time is money’ is never more true than when selling a Dallas home, For example,

In January, you put your property on the market for $500,000. In February, your agent recommends a price reduction of $10,000 to $490,000, but you decide to wait out the market a little longer. Assuming your monthly payment on the property is $4,000-5,000 per month (including mortgage, property taxes, and insurance), and it hasn’t sold in six months, by June you have spent $24,000-30,000. This $30,000 expense has lowered the property value from $500,000 to $470,000. If you had lowered the selling price in February to $490,000 and obtained a faster sale, you would have had ended up with more money in your pocket. 

Dallas property values recently have been declining 5-10 percent a month. A property that might have sold in January or February for $490,000, will most likely only sell for $440,000-465,000 in June. So how do you sell your Dallas home faster and for more money? 

Selling Dallas Home Fast and For More Money

1. Take a look at comparable home sales in your neighborhood and price at your 5% below the last comparable sale within a three-month prior period. 

2. Work with an experienced real estate agent who has market knowledge in your neighborhood. 

3. Have your home is saleable condition. Have your ‘honey-do list’ complete, your yard ship-shape and your home ready to show at a moments notice. 

Your efforts will be rewarded!

There were 2,869 foreclosed homes in Collin County in September 2009 with 452 new foreclosed homes.  The average sales price for all Collin County and Dallas homes was $274,216 and the average sales price of a foreclosed home was $172,788, a $101,428 savings,  according to RealtyTrac.com.

Collin County and Dallas Foreclosure Activity and Home Price Index

Collin County and Dallas foreclosure activity decreased  in September with 489 foreclosures in August and 479 in September. 
                                   

Collin County and Dallas foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Collin County and Dallas Foreclosure Geographical Comparison

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It doesn’t matter if you are buying your first Dallas home or are a veteran home buyer, you will have list of ‘wants’ and ‘needs’ for your new Dallas home. The ‘wants’ are things that would be nice to have such as a gas fireplace or granite counters. The ‘needs’ are things like, well a ‘bathroom’ or the number of bedrooms to suit your family. It is rare that you will get all your ‘wants’ and needs’ in the home you buy.

The key to maximizing your Dallas home investment today is distinguishing between the types of ‘wants’ and ‘needs’ you’re better off buying as part of the property, and those you could add later without too much trouble and expense. Here’s some information to help you prioritize the amenities on your list.

Location:

Location is the one thing you can’t change about a property. Location is about being in a desirable neighborhood and close to (but not necessarily next to) valued amenities or planned ones — employment opportunities, good schools, shopping, public transportation, major highways, parks and recreation, cultural activities, etc. A good location is also about not being on a high-traffic street, near noise, next to run-down properties, in a flood plain, etc.

Structural integrity:

Make sure the Dallas home you buy doesn’t come with a cracked foundation, pest infestation, drainage issues, mold or other problems that may be difficult and expensive to correct. A home inspection will help you determine if these items are an issue.

Size:

The size of a home is important, especially if you’re just starting to raise a family. You don’t want to buy a home that is perfect for the two of you, knowing you want children in the next couple of years and making the home you buy too small. 

It’s easier and less expensive to reconfigure existing space (turning a basement into a family room or a garage into a bedroom, for example) than to build an addition. And, you can only add that addition if yard size and zoning restrictions allow.

Bathrooms:

It is significantly more cost effective to remodel a bathroom than to add one, so look for a home that has the number of bathrooms you really want.

Bedrooms:

Find a home with at least the minimum number of bedrooms you require, but with space (perhaps an attic or enclosed porch) that could eventually be converted to a bedroom should you need another one in the future.

Cosmetics:

Although a neon pink bathroom might make you cringe, that’s exactly the type of problem you can easily and inexpensively correct. You could repaint it yourself for around $50, or hire someone else to do it for a few hundred more.

Other items:

You can change — or add — over time without too much effort or cost: carpeting, landscaping, appliances, hardware and fixtures, lighting, countertops, cabinets, upgraded doors, vanities, closet space, siding, windows and lots more.

Buy a Dallas home with “good bones” in a good location. A home you’re likely to enjoy living in for many years to come — improving as you go. When you get ready to sell, you’ll have exactly what other buyers are looking for!

Learn more about buying a Dallas home by visiting TexasHomeCentral.com.

Search all Dallas homes for sale.

In today’s real estate market, Dallas home owners trying to sell on their own get discouraged when it comes to getting their Dallas homes sold. What they may not realize is that in the modern market selling a home takes a lot more than just sticking a “for sale” sign in the front yard. Traditional real estate marketing tactics have evolved into a variety of more complex and effective strategies. The internet has become the most popular and successful aid in setting up successful home-selling campaigns. 

According to the National Association of Realtors, almost 90% of home buyers do their house hunting online. The fact that the internet is taking over many traditional methods, makes it imperative for [city] home owners to move their campaigns to the web. Consumers are becoming more independent in the home buying process, relying on the internet for real estate market information and shopping for their perfect home. The quantity of home buyers who ended up purchasing a home they found using the Internet has significantly increased from only 8% in 2001 to a soaring 32% in 2008. However, buyers only account for half of the real estate equation that results in using the internet. 

Sellers are relying on the internet to create effective online selling campaigns that catch the mouse click of potential buyers. Whether selling by owner or using a real estate agent, anyone trying to attract the attention of a buyer for their Dallas home  should take full advantage of online marketing strategies. Listing agents advertise client’s homes on their company websites, the Multiple Listing Service and Realtor.com, and by other professional tools. Home owners choosing the for sale by owner route or just simply looking for more ways to expose their home on the market, now have access to many of the same professional tools real estate agents use and more. For example ForSaleByOwner.com now allows their clients to list their homes on the Multiple Listing Service and Realtor.com too. In addition, homes are also popularly advertised on websites such as, Craigslist, Google Base, Yahoo Real Estate, and Facebook. 

Regardless of who is selling your Dallas home, it is important to establish and maintain a successful home-selling Internet campaign. Here are a few tips to get you on the right track:

• It is crucial to give the home as much exposure as possible, especially on popular websites like local MLS sites.
• Use comprehensive and professional quality descriptions of the property.
• Be sure to include details such as room sizes, total square footage, key selling points and neighborhood or community assets.
• Display a variety of multiple, high-quality color pictures and, if possible, video tours of the home.
• Provide convenient, simple, quick and easy methods of contact for people requesting more information or pursuing a showing.
• Make scheduling a showing as convenient as possible for the prospective buyers.
• Set a competitive asking price based on the selling prices of comparable homes in the area.

Learn how my marketing strategies can get your Dallas home sold in a shorter period of time and for more money by visiting TexasHomeCentral.com.

What is yourDallas home worth?

In today’s rapidly changing economy, many Dallas home owners wonder or worry about selling their home for the best price, and terms in the shortest period of time. 

Here are 9 helpful hints if you are considering selling your Dallas home: 

• Be realistic, and price your home right by using market comparisons.
• Know your true bottom line for both price and time.
• As the market shifts, be prepared to evaluate your price.
• Advertising your property with yard signs, local MLS and newspapers.
• Get rid of the clutter! It makes your house appear smaller.
• Clean your walls, floors, baseboards, stove and refrigerator. Buyers will know your house is well cared for.
• Clean up outdoors! Remove tools, toys and be sure lawn and shrubs are neatly trimmed.
• Have the carpets cleaned to eliminate odors, smoke, and pet smells.
• Make minor repairs such as leaky faucets, sticky doors, etc.

Learn more about selling your Dallas home by visiting TexasHomeCentral.com. 

What’s your Dallas home worth?

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.Now let’s take a look at Dallas real estate sales statistics for September 2009 to learn how our local real estate market is recovering.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules,” he said. “No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month.”

Dallas Real Estate Sales Statistics - Sept 2008

Number of Sales:  4,293
Average Sales Price:  $203,900
Median Sales Price:  $150,100
Homes on the Market: 27,406
Months of Inventory:  6.2

Dallas Real Estate Sales Statistics - Sept 2009

Number of Sales:  4,010
Average Sales Price:  $201,700
Median Sales Price:  $156,400
Homes on the Market:  22,979
Months of Inventory: 6.3

The number of Dallas homes sold in Sept 2009 was 283 less than in Sept 2008, a 7  percent decrease. The average sales price decreased by 1 percent or $2,200, while the median price increased 4 percent or $6,300. The months of inventory remained steady.

Learn more about buying and selling Dallas homes.

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