Monday Morning Mojo for April 2, 2012

This year Easter will be celebrated on Sunday, April 8, 2012. What would Easter be without eggs? Another symbol of birth and renewal, the egg naturally represents new life and hope for the future. The symbol is still honored today by children worldwide in the tradition of learning to dye Easter eggs in a fun family get together.

You don’t need a $40 Easter egg decorating kit with pages of instructions to impress your family and guests this Easter – achieve sophisticated elegance with colors taken directly from nature. Simply decorated from a myriad of plants and flowers, you can create a beautiful range of natural colors and textures. Try this technique – it’s simple enough to do with young children.

Ingredients:

Gather together eggs, an enamel or stainless steel pot, vinegar, cheesecloth, a rubber band, and plant materials such as onionskins, blueberries, pecan hulls, parsley, beets or dandelions.

Directions: 

1. To prepare the dye bath, fill a pot with two or three cups of plant material. Barely cover it with water (more plant material produces stronger colors.) Simmer for at least 30 minutes. Add water and stir as needed. The dyes can be made several days in advance and stored in the refrigerator. Strain and heat the dye before using it.

2. Use hard-boiled or blown out eggs. Carefully wash the eggs with soap and water. Allow them to dry. Wipe the eggs with vinegar.

3. To decorate the eggs, moisten small leaves and grasses, one at a time. Press them firmly against the egg. Hold them in place by wrapping the eggs in a six-inch square of cheesecloth or nylon pantyhose. Pull the cloth tight against the egg and secure it with a rubber band. Immerse the egg in a container of warm dye. Some dyes are stronger than others. The process may take only a few moments or several hours. Dyes derived from yellow onionskin, red onionskin, and blueberries all provide quick results.

4. Unwrap the eggs, drain, and let them dry upright.
 
Courtesy of Chiff.com

I hope that you have an amazing week.

Your friend,
Todd Tramonte

The Todd Tramonte Home Selling Team

Breckenridge, Richardson, Texas - Good!

If you are not familiar with the Breckenridge area of Richardson, you need to take the short drive to take a look at the incredible parks, recreational facilities and wonderful real estate opportunities.  While many of Richardson's houses were built before 1980, the Breckenridge area, near Breckenridge Park, offers much newer construction and even opportunities for brand new homes.  Homes for sale in Breckenridge vary from the high $100,000s to $1.4 million with some gorgeous homes on large lots behind gated entrances.  In Collin County and Plano ISD, this section of Richardson is unique in many ways.  Breckenridge is located just outside of 190 / George Bush and is mostly between Renner Road and Campbell Road west of Murphy Road.

If you are looking for a great deal on a newer home that is still within a thirty minute drive of down town Dallas, Breckenridge is a huge find!  New retail and restaurants are popping up all of the time and there is still plenty of green space as well.  Consider buying a home in the Breckenridge area of Richardson.  You'll love it!

 

Todd Tramonte

The Todd Tramonte Home Selling Team

The Sky Is Falling!

The housing market is awful, isn’t it? I mean ghost towns are everywhere, the American dream is dead, and who knows how the few people who can get a mortgage are doing it. Let’s be honest, why would anyone want to work in real estate, let alone purchase a house at this point – I have to be insane to do what I do, right?

 

Image: Michal Marcol / FreeDigitalPhotos.net

That paragraph above may seem overly dramatic but it’s a common theme I hear constantly among new home buyers that I meet with. Many are getting their information from national media outlets that are always looking for that next ‘man bites dog’ story.

I certainly don’t have my head in the sand. There are real estate markets in this country that have been hit hard over the past few years. But I also feel the need to help put things into perspective for those regurgitating the “national real estate” market statistics we hear nightly on the news.

Many of you may be surprised to know that in the average price ranges in Richardson, TX it’s actually a seller’s market. Yes, that’s right – a seller’s market. To determine this we look at how many months of housing inventory we have. In Richardson it looks like this:

 

$100,000-$149,999:                        3 months of inventory

$150,000-$199,999:                        3.5 months of inventory

$200,000-$249,999:                        5.2 months of inventory

$250,000-$299,999:                        2.8 months of inventory

 

These numbers show us that there are actually more buyers than homes for sale right now in Richardson, Texas. This isn’t just Richardson either, in Dallas overall we only have 5.8 months of inventory which is a really healthy, neutral market.

Yes there are foreclosures in Richardson, yes there are short sales in Dallas – and yes there are distressed properties everywhere. There will always be some distressed properties everywhere. The point is that contrary to the apocalyptical outlook we get from the media and government, things here in Richardson and Dallas are not that bad.

We all have to be careful when listening to national statistics on housing. Real estate is so hyper-local that price ranges can, and do, vary from street to street let alone from state to state.

Next time you open up the newspaper and you read this:

 

“It hit with the ferocity of an Old Testament plague, wiping out large populations of homeowners in the U.S. Five million of the country's 76 million mortgage holders have lost their homes to foreclosure or lender-ordered short sales since 2006, and an estimated 14 million more owe more on their homes than their properties are currently worth. In all, some $7.4 trillion in homeowners' equity has been destroyed, according to Mark Zandi, chief economist at Moody's Analytics, and more than two million jobs in the home-building industry disappeared.

At year end 2011, the S&P/Case-Shiller National U.S. Home Price Index fell to a record low, 33.8% below the boom peak level, recorded in 2006's second quarter. The descent has been all the more hideous in such once-manic markets as Las Vegas, Phoenix and Miami, which, according to the Case-Shiller 20-City Composite Index, have fallen 61%, 55% and 51%, respectively, from their high-water marks.”₁

 

Just remember that rarely does good news sell newspapers and magazines or get high ratings. If you’ve been thinking about buying or selling real estate in Richardson you would be crazy to not get into the game right now.

 

Cheers,

 

Matt Cafrelli

Certified Distressed Investor Agent Specialist

Buyer Agent Specialist

The Todd Tramonte Home Selling Team

 

 

 

₁ Laing, J. (2012, March 19). Ready to rebound. Retrieved from

http://online.barrons.com/article/SB50001424053111904797

004577281453828447714.html?mod=TWM_pastedition_1

Homes for sale in The Reservation - Richardson, TX

What homes for sale in The Reservation?  Our team currently represents several buyers who are poised like lions and positioned to pounce on any available homes that come available in this incredibly desirable Richardson neighborhood.  With incredible Mohawk Elementary and fantastic trees and parks, this Richardson subdivision is a top destination for young couples and families alike.  Still in Dallas county and just on the border of the City of Dallas, the neighborhood has a lot to offer home buyers.  In the last six months, seven homes have sold in The Reservation (including adjoining JJ Pearce) in less than five days!  Nine homes have sold in less than 30 days.  Even the foreclosures are selling significantly faster than market averages. 

Recently, I spoke with several Richardson Realtors who work this neighborhood and each of us had multiple buyers simply waiting for a fitting home to come on the market for sale to meet our buyer's needs.  If you or someone you know is thinking about selling a home in The Reservation or JJ Pearce in Richardson, TX call me right now at 214.216.2161.  Really.  Call me.  I'm extension five.

Note that many other areas of Richardson and North and East Dallas are very attractive to buyers as well.  As we experience a slight recovery in real estate market optimism in mid to late 2012, and a significant increase in legitimate market opportunities in 2013 and beyond, more and more markets will join the party.  When this happens though, these markets will continue to follow Richardson's Reservation!

 

Todd Tramonte

The Todd Tramonte Home Selling Team

Five Great Things about Homeownership

Owning your own home can be one of the most rewarding investments you make.

Image: scottchan / FreeDigitalPhotos.net 

There's been a lot of unfavorable news about the housing market in the last few years. But there remains another side to all of those stories, which are the benefits that come along with homeownership. Despite where the interest rates go or how many new homes are being built there are things that have and will continue to be beneficial for homeowners. Realty Times put out a great article recently reminding us all of a few of those things. The article follows.

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1. Equity. When you pay rent, you never see that money again. It is lining the landlord's pocket. Yes, buying a home may come with some hefty initial costs (downpayment, closing costs, inspections), but you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Homeownership is about building long-term wealth. A home bought for $10,000 in 1960 is most likely worth 10 times that in today's market.

 

2. Relationships: Renters tend to see their neighbors come and go quickly. Some people sign year leases while others are in the community for much shorter terms. Apartment complexes also tend to have less common shared space for people to meet, greet, and socialize. Homeowners, however, have yards, walking trails, or community pools and clubhouses where they can get to know each other. Neighbors stay put much longer (at least three to five years if they hope to recoup their closing costs). This means more time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress.

 

3. Predictability: Well, as long as you have a fixed-rate term on your mortgage it's predictable. Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. If your mortgage payment is $500 today, then it will still be $500 a month in 10 years. This allows for people to budget and make solid financial plans. The sub-prime crisis meant many homeowners with adjustable rate mortgages saw their monthly payments rise and then rise some more. Homeownership, though, generally comes with a predictable table of expenditures. Even the big purchases are predictable. You know most roofs last just 15 years (or so). You know that each year you'll need to pay for the gutters to be cleaned, and so on.

 

4. Ownership: Okay, this is a given. Homeownership means you "own" your home. That comes with some incredible perks, though! You can renovate, update, paint, and decorate to your heart's desire. You can plant trees, install a pool, expand the patio, or do holiday decorating that would rival the Kranks (if the HOA allows!). The bottom line is this is your home and you can personalize it to your taste. Most renters are stuck with the same beige walls and beige carpet that has been standard apartment decor for 20 years. Now is your chance to let your home speak!

 

5. Great Deals: It's a great time to buy. Interest rates are at historic lows. We're talking 4.0 percent instead of 6.0 or higher. This means big savings for today's buyers. Home prices have also taken a dip since the recession, which means homes are more affordable than ever. If you have steady income and cash for a downpayment, then be sure to talk to your local real estate agent about what homes in your area could be a fit for you.

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If you're thinking about making a move soon and capitalizing on some of the amazing deals out there don't hesitate to call. Also, if you just want to discuss this article and the many other benefits that come with homeownership other than the ones listed above or the obvious financial ones we'd be more than happy to chat with you.

 

Kenny Ochs

The Todd Tramonte Home Selling Team

A 14-Year-Old Girl Just Bought A House In Florida

Luckily, the housing market in Texas never got as bad as it did in Florida but there are still plenty of opportunities for amazing house deals to be purchased in the Dallas area.

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Meet Willow Tufano, age 14: Lady Gaga fan, animal lover, landlord.

In 2005, when Willow was 7, the housing market was booming. Home prices in some Florida neighborhoods nearly doubled from one month to the next. Her family moved into a big house; her mom became a real estate agent.

But as Willow moved from childhood to adolescence, the market turned, and the neighborhood emptied out. "Everyone is getting foreclosed on here," she says.

After the collapse, Willow's mom started working with investors who wanted to bid on cheap, foreclosed homes. Sometimes Willow tagged along.

One day, she went to a house that an investor wanted to flip. "It was filled with all kinds of stuff!" Willow says. "I was like, 'I can sell this stuff if he'd want to let me have it.' "

That was fine with the investor. So Willow sold the furniture and appliances from the house on Craigslist. She did the same thing with a bunch more houses. After a while, she was clearing about $500 a month, and saving a lot of it.

One day, Willow's mom, Shannon, saw a two-bedroom, concrete-block home on auction for $12,000 — down from $100,000 at the peak of the bubble. Shannon was telling her husband about the house, when Willow piped up.

"I was like, 'What if I bought a house? That would be crazy,' " Willow says.

Willow wound up splitting the house with her mom. Willow plans to buy her mom out in the next few years, and put her name on the title when she turns 18.

The place was a mess when they bought it — "like there was a riot or something," Willow says.

They cleaned it up and rented it out to a young couple for $700 a month.

As I was working on this story, I kept thinking that when a 14-year-old kid can buy a house, the market must have hit bottom. I kept saying this to Willow, and she'd sort of vaguely nod.

But it's hard for Willow to see herself as symbolic of anything. To a 14-year-old kid in Florida, the housing collapse is basically the only world she's known. It's the landscape. It's a Craigslist hobby.

She's thinking she may save up for a second home.

 

 

Joffe-Walt, Chana. "This 14-Year-Old Girl Just Bought A House In Florida." NPR.org. 9 Mar. 2012. Web. 12 Mar. 2012. <https://www.npr.org/blogs/money/2012/03/09/148218539/this-14-year-old-girl-just-bought-a-house-in-florida>.

Only the wealthy can invest in real estate, right?

I come across a lot of people who say they’d love to invest in real estate if they had the money. The potential returns that real estate offers and the ability to leverage your money for investment purposes are just a few reasons for real estate’s mass appeal. You don’t see too many reality TV shows about mutual fund investing for a reason!

The overwhelming reason people don’t get into real estate investing is because they believe they don’t make enough money to do so. Based on the data below, you can see that investors aren’t just six-figure, C-suite execs. In fact, a majority of real estate investors are what most would consider “average” people.

The median investor last year was $87,600. That isn’t just necessarily per person – in fact, you could have a two-income household with both making $43,800 salaries and be able to actively invest in real estate. Taking a look at the graph you’ll notice there are several people making $25,000-$35,000 per year who are actively investing in real estate.

Based on 2010 census data the average Richardson, Texas household income was $68,776. Are you leaving money on the table by not taking advantage of historically low home prices and interest rates?

 

Cheers, 

Matt Cafrelli

Certified Investor Agent Specialist

Todd Tramonte Home Selling Team

Plano's Real Estate Identity Crisis

Plano real estate has been incredibly attractive since the early growth of the far north Dallas area.  For years Plano was accurately thought of as a newer community of nice homes and open spaces just north of Dallas and nearby Richardson.  Home prices are quite reasonable and schools are great.  Plano has a vibrant cycling and running community as well as an active arts following.  What Plano has not had until just recently is areas of town that are considered older.  

Image: phanlop88 / FreeDigitalPhotos.net

 

The once trendy and fresh city is certainly still both of those things in many areas, but is also maturing in others.  As is natural in any city, homes are aging, streets are wearing and infrastructure is showing its years.  While many home owners are still eager to buy a home in Plano, and they are wise to do so, some are looking to newer areas within the city such as West Plano and others are looking farther north to cities like Mckinney and Frisco to find the newest opportunities for "young" real estate.

Like many other Dallas area cities, Plano will be fine.  In a community with as much to offer as Plano, TX has, aging is a reality that can be dealt with gracefully.  So far, Plano is doing just that.

HERE are a some recent Plano homes for sale!

 

Todd Tramonte

The Todd Tramonte Home Selling Team

Housing is affordable: what are you waiting for?

Home affordability has officially reached it's all time highest level. According to the National Association of Realtor's (NAR) Housing Affordability Index, "the index rose to 206.1 in January, and an index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced single family home, assuming a 20 percent down payment and 25 percent of gross income for mortgage principal and interest payments." 

“This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median-priced home,” said Moe Veissi, NAR president.

We can help you find an incredibly affordable home in Dallas, Richardson or Plano. Let us show you how.

Image: jannoon028 / FreeDigitalPhotos.net

The affordability of current homes in our area is something that we are helping our clients realize every day, when they realize the amount of house that they can purchase in the Dallas, Richardson or Plano areas for significantly less of a mortgage payment than they were expecting to pay. If you're curious to see what kind of affordable housing is available in your area of interest then use these free searches to check them out. 

Search all affordable Dallas homes for sale.

Search all affordable Richardson homes for sale.

Search all affordable Plano homes for sale.

 

Kenny Ochs

The Todd Tramonte Home Selling Team

 

 

 

Cho, Esther. "Home Affordability Index Reaches Record-High Level." DSNews. DSNews.com, 7 Mar. 2012.

Attention Young People: Move to Richardson Now!

As more and more families in the Dallas area return to the ranks of the optimistic and begin to search for homes, the previously tried and true standards for local home ownership will change for the first time in generations. 

This change in mentality for home owners will be most significant with young families.  Where bigger was always better, now value and the quality of the investment are the stronger considerations.  While Dallas area home buyers used to focus on the appearance of the situation, the wise will now focus on the security of the situation. 

Seeing family, friends and neighbors forced to sell homes at a loss or even lose homes to foreclosure has scarred a generation of younger professionals.  Much like the post depression generation, we will see more conservative budgets and less ego in the home buying process.  These are positive adjustments in a market that could benefit greatly from them. 

Due to these adjustments, markets that may have been viewed as less trendy and more traditional are becoming very very popular.  One of the most attractive communities to fit this mold is Richardson, TX.  As the very first city north of Dallas, Richardson offers very attractive homes at affordable prices just fifteen minutes from downtown Dallas.  With homes from $125,000 to $1million, there is a comfortable and safe neighborhood for just about anyone.  Most of all, young families are flocking to nicer homes in highly desirable neighborhoods with mature trees, exemplary RISD schools and wonderful community feels.  Neighborhoods like The Reservation, Waterview Estates, Canyon Creek and Richardson Heights are experiencing incredible demand for homes and offer incredible Richardson Homes For Sale. 

With multiple DART stations, an incredibly impressive network of parks and trails as well as multiple neighborhood recreation and aquatic centers, Richardson is a wise choice for smart young home buyers.  For those interested in restaurants and new retail developments, the city has made great strides in recent years adding the Brick Row and East Side mixed use developments as well as approving zoning changes to bring in huge new retail, restaurant and entertainment centers at the few remaining intersections and on the few remaining parcels of open land.

If you are ready to make a wise real estate choice in the Dallas area, come see Richardson, TX!

 

Todd Tramonte

The Todd Tramonte Home Selling Team