How to Hire a High-Quality Realtor

What does it take to find the right agent for your real estate experience? Today we’ll share a five-step guide on how to hire the right Realtor.

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What’s the best way to find (and hire) a high-quality Realtor? Actually, it’s simple. All you need to do is follow these five tips:

1. Check out their online reviews. Any agent can tell you they’re great, but reviews don’t lie. Reviews allow you to see feedback from people who have worked with a given Realtor or team in the past. This can offer valuable insight into what your experience would be like if you chose to hire them.
 

2. “Stalk” them online. Visiting an agent’s social media pages will help you see how this person conducts themselves, in general.

3. Find out if they’re tech-savvy. Unfortunately, not too many agents barely know how to work their cell phones, let alone leverage the latest real estate technology. So check out their website, read their reviews, and study any other materials they’ve made available for signs of their technological competency.
 

4. Ask for proof of their track record. If an agent tells you they’ve sold a certain number of homes in the past 12 months, for instance, ask them to prove it. According to the National Association of Realtors, the average real estate agent sells 11 houses or fewer in a given year. Here on the Good Team, we sell well over 200, and we’d be happy to prove it to you.
 

5. Ask how they plan to market your home. The right agent is one who will be proactive, rather than simply placing a sign in your yard and praying that your property sells. They must have systems and strategies in place to expose as many buyers as possible to your home.

Any agent can tell you they’re great, but reviews don’t lie.

If you have any other questions, would like more information, or are curious about how we can serve your real estate needs, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Why the Holiday Season Is Actually a Great Time to Buy or Sell

What makes buying or selling during the holidays a surprisingly good idea? Let’s find out.

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Buying or selling a home may not be the first thing that comes to mind when you think about the holiday season, but did you know that the later months of the year can be a great time to accomplish your real estate goals? 

Actually, our team has noticed that December tends to be the third-best month of the year to buy or sell a home in our market.

Think of it this way: If you’re listing your home, you can not only enjoy decreased competition, but you can also be certain that the buyers who come to view your property during the holidays are committed to making a deal. Many buyers are concerned about rising interest rates, and therefore want to get into their next home as quickly as possible. They want to lock in a favorable rate while they’re still historically low.

December tends to be the third-best month of the year to buy or sell a home in our market.

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In addition to these more practical factors, buyers also tend to be more sentimental during the holidays. Seasonal decor, so long as it isn’t overdone, can make a house look like a home in the eyes of potential buyers.

All in all, there are many factors that make the holiday season a great time to buy or sell. Between the tax advantages, the personal benefits, and other factors, this later time of year offers much more opportunity for buyers and sellers than some might initially assume.

If you’d like to talk about your specific goals and circumstances, have any other questions, or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

The Reason We Are Seeing More and More First-Time Homebuyers

We haven’t seen this many first-time homebuyers in our market since 2005. Here’s why they’ve made such a strong return.

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According to a recent report, first-time homebuyer purchases are being made at their highest rate since 2005, and they’re up 1% from 2017. The main reason behind this is the fact that rents are rising at the fastest pace we’ve seen in almost two years. According to Zillow, the median rent rose 2.8% to $1,445 and has been experiencing the fastest pace of appreciation since May 2016.

We are personally seeing a huge demand from potential homebuyers under age 35 who want to stop renting and stop throwing away their money. In Collin County alone, there are 147 houses priced at or below $225,000 or less, which is a typical price range for first-time buyers.

Assuming a buyer is going to utilize an FHA 3.5% down payment loan program, a $225,000 home would cost roughly $7,200 out of pocket and result in a monthly payment of roughly $1,800. That’s not much more than what most people are paying in rent, and in some cases, it’s significantly less.

Renters are tired of throwing away their money and are ready to buy.

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If you’re tired of throwing away money on rent and are curious about how the home lending and buying process works, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

4 Surprising Factors That Can Increase Your Home’s Value

We all know the usual things that can increase a home’s value, but here are some things you may not have thought of that can do so as well.

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Here are four surprising factors that can increase your home’s value:

1. How close you are to a Starbucks. A 2015 Zillow report found that between 1997 and 2014, being located within a quarter-mile radius of a Starbucks could increase a home’s value by as much as 96%. The next time you’re out looking for a home, see how close it is to the nearest Starbucks. 

2. Blue kitchens and blue bathrooms. According to Zillow’s 2017 Paint Color Analysis, which examined more than 32,000 photos from homes sold around the country, homes with blue kitchens sold for $1,809 more on average compared to homes with white kitchens. That same report stated that homes with light-pale blue to soft-periwinkle blue bathrooms sold for $5,440 more on average than homes without those color bathrooms. If your agent tells you bathroom color doesn’t matter, it might be time to look for a new agent. 

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If your agent tells you bathroom color doesn’t matter, it might be time to look for a new agent.

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3. Trendy features. According to a 2016 Zillow analysis of descriptions of more than two million homes sold nationwide, homes with barn doors or farmhouse sinks sold faster and for a higher premium on average. Homes with “barn door” in their listing description sold for 13.4% more and 57 days faster than comparable homes that didn’t have that term featured. 

4. How close you are to a city. The average urban home is now worth 35% more than the average suburban home. Since 2012, the median value of homes located in urban areas has increased by 54%, while the median value of homes in suburban areas increased only 38%. The closer your home is to a city, the higher your sale price will likely be. 

P.S., according to a Redfin study, homes listed on a Wednesday, Thursday, or Friday have a higher chance of selling closer to their asking price and selling in 90 days or less.

If you have any more questions about factors that might increase your home’s value or you’re thinking about buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.

School Districts and Their Influence on Home Prices

Whether you’re buying or selling, researching local school districts is crucial for appraising your home’s value.

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Do school districts influence home prices? Conversations regarding schools and their effect on home values can be confusing, but a look at some firm statistics should help clear things up.

It probably comes as no surprise that homes in the best school districts sell for a higher price. According to The RealtyTrac 2016 Schools and Housing Report, homes in zip codes with at least one good elementary school have higher values and stronger price appreciation over the long term than homes in zip codes without. But by just how much? According to RealtyTrac’s report, out of 1,661 zip codes with at least one good elementary school, home values averaged 77% higher than the average home value in 2,774 zip codes without one. That’s a big difference in price, consistent over a broad sample of zip codes.

With these numbers in mind, it’s pretty clear that any decision on buying a home should include a thorough analysis of the school district, even if you don’t intend to send children to those schools. Good schools provide stability in the community, and that’s definitely good for your property value!

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Any decision on buying a home should include a thorough analysis of the school district.

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If you have any questions about your local school district, or you’re thinking about buying or selling a home, give us a call today at (972) 468-5017, or send me an email. We would be happy to help you!