January 26, 2015

Rents at an All-Time High in North Texas?


If you have lived in an apartment in the Dallas/Fort Worth region, you know that paying for a peace of security and safety does not come cheap no matter where in the metroplex you decide to live. Last year, 2014, rents reached an all time high in North Texas. According to Jenny Doren and Sandra Baker of WFAA and the Star- Telegram:

"Rents rose 4.9 percent in 2014 and now the average monthly rent for an apartment in Dallas-Fort Worth is $919, said MPF Research in Dallas.

"Annual increases above 4 percent are rare in this market," said Greg Willett, an MPF Research vice president. "Because we're such a construction hot spot, the flow of new product moving through initial lease-up normally holds rent growth below the national norm."

Locally, however, renters were leasing up units almost as fast as they came on the market, Willett said. Renters leased 15,226 units during 2014, when 15,575 units were completed, making North Texas the strongest market nationwide."


 

I always advise those who are paying more than $1,000 in rent to consider purchasing their own home. The benefits in purchasing outweighs the benefits of owning. There are no apartment rules to follow, no additional fees, and no paper thin walls to hear your neighbors conversation.


I would to talk to you if you are considering purchasing a home in 2015. Let's get you on a Royal Plan today to see where your new avenue awaits you at. Contact me via phone or email at 972.813.9788 or atfowler@NewAvenueRealty.com.

Find your new avenue here: New Avenue Realty







Doren, Jenny, and Sandra Baker. "N. Texas Apartment Rents Reach an All-time High in 2014." WFAA. N.p., 6 Jan. 2015. Web. 26 Jan. 2015.





Andrea Fowler Web Developer

January 16, 2015

5 Demands to Make on Your Listing Agent


5 Demands to Make on Your Listing Agent | Keeping Current Matters

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.
You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.
Here are the top 5 demands to make of your Real Estate Agent when selling your house:

1. Tell the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank.
The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. Surveys show that there was a challenge with the appraisal on almost 20% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which your family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.
This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work. 

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.
Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family (commission, length, etc.), don’t expect them to turn into a super hero when they are negotiating for you and your family with the buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving.
You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!




"5 Demands to Make on Your Listing Agent." Keeping Current Matters. N.p., 13 Jan. 2015. Web. 16 Jan. 2015.
Andrea Fowler Web Developer

January 8, 2015

4 Reasons to Buy Before Spring!



The holiday season is behind us, time to focus on what exciting new experiences 2015 can bring! If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 15.1% (most pessimistic) and 32.8% (most optimistic).
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015.
An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But, what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

To get started on buying this winter in the metroplex, contact me via phone or email at 972.813.9788 or atfowler@NewAvenueRealty.com.


"4 Reasons to Buy Before Spring!" Keeping Current Matters. N.p., 07 Jan. 2015. Web. 07 Jan. 2015.
Andrea Fowler Web Developer

January 1, 2015

The REAL Reasons Americans Buy a Home


As I browsed through the internet, I found one article that talks about homeownership as a tool to build wealth. On the finanical tip, the New York Times wrote about "Homeownership and Wealth Creation".

Source: Gap in Net Worth by New York Times: analysis by Center for Responsible Lending of Federal Reserve Board’s Survey of Consumer Finances



Home ownership is that for me BUT it will represent so many different things to people. According to Keeping Current Matters, there are four reasons why Americans buy a home. 

The REAL Reasons Americans Buy a Home | Keeping Current Matters
Source: Keeping Current Matters


There’s No Place Like Home
The top 4 reasons to own a home cited by respondents were not financial.

1. It means having a good place to raise children & provide them with a good education

From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.

2. You have a physical structure where you & your family feel safe

It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.

3. It allows you to have more space for your family

Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.

4. It gives you control over what you do with your living space, like renovations and updates

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?
The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents:

5. Owning a home is a good way to build up wealth that can be passed along to my family

Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?

Bottom Line

Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, the holiday season is a great time to reflect on the intangible factors that make a house a home.








"The REAL Reasons Americans Buy a Home." Keeping Current Matters. N.p., 23 Dec. 2014. Web. 02 Jan. 2015.
Andrea Fowler Web Developer

HAPPY NEW YEAR -- LET'S ROCK 2015!!!


Let me start by saying, "HAPPY NEW YEAR!!!" 2015 starts today and we have 364 days to grow personally and professionally. What are some of your plans for 2015?


In my second year of real estate, my plans are to help as many people as I can with their homeownership goals. So for 2015, I am taking my business to a new height to provide exemplary royal service for your real estate needs. Your new avenue awaits you and who else to help you find your new castle but me? Let's rock 2015 and help you acquire all of your goals for you and your family.


I hope that you continue to follow New Avenue Realty in the 2015 journey. If you know of anyone who could use a royal service, send them my way. If you enjoy learning more about becoming a homeowner, stay tuned to Drea Takes on Dallas. If you are outside of my area (Dallas/Fort Worth), let me know if I could be of some assistance for you royal service in your area. 

Below I have listed to events that are planned for the 2015 year of New Avenue Realty. 

Your Next Home Workshops (Lewisville Public Library)


April 18, 2015

July 18, 2015

October 3, 2015

Interested in how New Avenue Realty can help you in 2015? Contact me at 972.813.9788 or atfowler@NewAvenueRealty.com. Hope to see us all accomplish sweet goals in 2015. Stay tuned for what 2015 brings...it is set to be exciting for New Avenue Realty. 

Andrea Fowler Web Developer