Recent upheavals in the appraisals arena and the new Home Valuation Code of Conduct (HVCC) are contributing to too many sales falling through the cracks.
According to National Association of REALTOR’s® (NAR) Appraisal Survey in June 2009, 37 percent of home buyers and sellers have experienced at least one lost sale as a result of the new HVCC. The report also pointed to:
•Higher Fees
•Lower Quality
•Longer Wait
See the full report at http://www.realtor.org/wps/wcm/connect/b83165804ef0b3338f18af2db4a1e62f/government_affairs_hvcc_research_results.pdf?MOD=AJPERES&CACHEID=b83165804ef0b3338f18af2db4a1e62f
Friday, August 07, 2009
Wednesday, August 05, 2009
Monday, July 27, 2009
Sign up to see the most recent sales in your neighborhood
at http://tarrantcountyhomevalues.com/
Active listings, homes under contract & recent sales will be emailed to you within 10 minutes. You will also receive a monthly update on your area!
Active listings, homes under contract & recent sales will be emailed to you within 10 minutes. You will also receive a monthly update on your area!
Sunday, July 19, 2009
With MLS listings available everywhere on the internet, why do you need a buyer's agent?
Borrowed with permission from http://www.bloodhoundrealty.com....
Here’s an intriguing question: Given that it’s so easy to search for homes on the internet, why do you need a buyer’s agent?
Face it, if you use the MLS search tool on my web site, (http://www.tarrantcountylistings.com) you’re seeing exactly the same listings I see. And you know better than I ever could what you like and what you don’t like.
By now, the home search process is at best a partnership between the agent and the buyer. In some cases the buyer and I will work together to perfect our search criteria. But many buyers simply search the available inventory on their own, emailing me the MLS numbers of the homes they want to see.
So why do those buyers need a buyer’s agent?
Realtors hoarded the MLS data for so long that even they came to believe it was the source of their value to buyers. But this is very far from the truth.
You don’t need me to search for listings, although I’m happy to do that. And you don’t need me to open lock-boxes. You need a buyer’s agent to guide you through what is in fact an arcane and perilous process — potentially a financial disaster. You might not need me to find your next home, but you need me to make sure that you get it — or that you pass on it, if that is what is truly in your best interests.
A skilled buyer’s agent will write the kind of purchase contract that will prove surprising to you at every turn, with every term and condition tailored to achieve your best advantage. Your agent will supervise the inspection process and negotiate the optimal solution to the repair issues. Your agent will be prepared for every pitfall in the escrow process.
If you bought and sold houses every day, you could do all these things yourself. It’s because you don’t — and because the seller and the listing agent are looking to take advantage of your naivete at every turn — that you need a skilled buyer’s agent as your steadfast champion in the home-buying process.
Here’s an intriguing question: Given that it’s so easy to search for homes on the internet, why do you need a buyer’s agent?
Face it, if you use the MLS search tool on my web site, (http://www.tarrantcountylistings.com) you’re seeing exactly the same listings I see. And you know better than I ever could what you like and what you don’t like.
By now, the home search process is at best a partnership between the agent and the buyer. In some cases the buyer and I will work together to perfect our search criteria. But many buyers simply search the available inventory on their own, emailing me the MLS numbers of the homes they want to see.
So why do those buyers need a buyer’s agent?
Realtors hoarded the MLS data for so long that even they came to believe it was the source of their value to buyers. But this is very far from the truth.
You don’t need me to search for listings, although I’m happy to do that. And you don’t need me to open lock-boxes. You need a buyer’s agent to guide you through what is in fact an arcane and perilous process — potentially a financial disaster. You might not need me to find your next home, but you need me to make sure that you get it — or that you pass on it, if that is what is truly in your best interests.
A skilled buyer’s agent will write the kind of purchase contract that will prove surprising to you at every turn, with every term and condition tailored to achieve your best advantage. Your agent will supervise the inspection process and negotiate the optimal solution to the repair issues. Your agent will be prepared for every pitfall in the escrow process.
If you bought and sold houses every day, you could do all these things yourself. It’s because you don’t — and because the seller and the listing agent are looking to take advantage of your naivete at every turn — that you need a skilled buyer’s agent as your steadfast champion in the home-buying process.
Friday, July 17, 2009
Dallas-Fort Worth Sales Statistics just released for the first half of 2009
How did your area do? Click on image to enlarge.
Monday, July 13, 2009
Tuesday, June 30, 2009
MLS activity sees a spike in the last 24 hours
In the last 24 hours in our local MLS, there have been 51 new listings and 75 went under contract or sold. That is the best ratio I have seen all year. Generally there have been more new listings than homes sold each day. A good sign!
Tuesday, June 09, 2009
Real Estate sales activity numbers have just been released-how did your area do?
Click on image to see full size
Monday, June 01, 2009
More good news for 1st time homebuyers!
First-time homebuyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit to pay for some of the costs of buying a home purchase. FHA just released details of a plan in which borrowers who use FHA loans can get advances from lenders that let them effectively receive the credit in advance, so they don't have to wait to get the money from the IRS.
Most borrowers will still have to come up with the FHA's required 3.5 percent down payment, unless they work through a state or local housing agency or an approved nonprofit. But there are many other potential uses, such as for closing costs and fees, or to beef up the down payment beyond the minimum level.
Any buyer who has not owned a home in the past three years is considered a first-time buyer and eligible for the program. Borrowers can claim the credit by filing an amended 2008 tax return or can wait for their 2009 return.
The tax credit was included in the economic stimulus package signed by President Barack Obama in February. It is not available to individuals with incomes above $95,000 or couples with incomes above $170,000 and expires Nov. 30.
Most borrowers will still have to come up with the FHA's required 3.5 percent down payment, unless they work through a state or local housing agency or an approved nonprofit. But there are many other potential uses, such as for closing costs and fees, or to beef up the down payment beyond the minimum level.
Any buyer who has not owned a home in the past three years is considered a first-time buyer and eligible for the program. Borrowers can claim the credit by filing an amended 2008 tax return or can wait for their 2009 return.
The tax credit was included in the economic stimulus package signed by President Barack Obama in February. It is not available to individuals with incomes above $95,000 or couples with incomes above $170,000 and expires Nov. 30.
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