When you initially enter the real estate industry, MANY rookies under-estimate the hurdles they'll encounter in that first year.  The trials and tribulations they go through are truly a school of hard knocks that nobody understands except for others who are self-employed.  Financially - How much money did you bring with you? When you visit the State Fair of Texas with $10 to spend, you can buy a cotton candy and walk around for the day.  You'll have a good time.  When you visit the fair with $100 to spend, you can visit the midway, play the games, and ride the rides.  You'll have a better time.  The same is true in real estate.  If you come into self-employment with a pocketful of funds from a corporate 401k or personal savings, you may stave off the pain of self-employment financially ... 09/29/2010

If you have ever been to a bargain basement sale (picture ladies at a Vera Wang wedding dress clearance sale), you know the knock-down, drag-out, hair-pulling, foot-stomping rush that can happen when items are deeply discounted and in shorter supply.  That is the only way I can describe the Prosper, TX suburban housing market at this point in time.  Last year, it was first-time home buyers scooping up homes.  This year, our buyer market is heavier with investors - grabbing up flips and investment properties to convert to rentals.  Move-ups and move-downs are happening all over town.  And, retirees are looking to Texas as an affordable part of the country with great weather in which to live on a fixed-income comfortably. Exhausted yet?  We are.  The busiest price points we've had this ye... 09/25/2010

Have you done any web commercials yet?  As I talk to homeowners and buyers in my area (Collin County,TX), I find that this is not a common advertising component in many agent marketing strategies yet.  However, the "Wow Factor" from the perspective of the homeowner is out of this world!  The bar keeps rising on coming up with new and impressive ways to market homes.  Are you keeping up? Web commercials are surprisingly easy to build.  The first one will likely take the longest, but the learning curve is rapid.  The clients love it, and you can generate new business from a web commercial by sharing it on social media sites like facebook.com and twitter.com.  People want to work with tech-savvy agents, whether they are selling, buying, or leasing.  Take a look at my latest web commercial.... 09/22/2010

A random search of 50 of the 174 active listings in the MLS in Prosper, TX today resulted in the discovery of 36 home listings with inadequate marketing.  The most common mistake, and the one that is likely costing the sellers the most in terms of exposure, is the lack of 25 photos. If your Prosper home has been on the market greater than 90 days, stop and review the marketing prior to putting through a price reduction.  Filling in the marketing gaps can bring a greater level of interest toward the home and help it get back on track to a successful sale. The MLS is not a fool-proof system.  It is pretty easy to make mistakes or miss critical data on an MLS listing.  The MLS also feeds other critical online sites that are popular to buyers, like realtor.com.  The down-stream impact of an... 09/19/2010

There are only 174 active homes in Prosper, TX in the North Texas MLS as of this morning.  We do have activity in our area.  After all, we have been one of the hottest growth markets in Texas.  But, we also have homeowners who are shaking their heads and wondering why their home hasn't been selected yet by a buyer?  Before you put through a price reduction, stop and review the marketing attached to your home listing, and make sure that you are getting all the exposure that you can be getting.  Here are some common problems with marketing strategies on residential properties.  Every one of these exists right now in our MLS, and steps should be taken to resolve these issues: Insufficient photos Our North Texas MLS allows up to 25 photos on an MLS listing.  Randomly spot-checking 50 listin... 09/19/2010

USDA IS BACK!According to my loan officer friends, USDA didn't have funding for making new loans for a while, but USDA is back.  As a reminder, this is a ZERO down payment loan for stimulating growth in designated rural properties. Prosper, Texas is within the geographic mapping boundaries of the USDA government loan program.  Also included in the boundary are Oak Point, Little Elm, Denton County unincorporated land in Frisco (Wynnwood Haven on Lewisville Lake is one of those areas), Savannah, Providence Village, Lakewood Village and part of The Colony.  The USDA has increased the up-front mortgage insurance fee, called a Guarantee Fee, from 2% to 3.5%.  Since that is financed it will not change the cash to close.The following increases will occur in the monthly payment as a result of t... 09/15/2010

It has only happened to me twice in ten years, so I consider myself fortunate, but I just found out that one of my clients put their home on the market with a different agent when they decided to get a divorce.  I have heard this story over and over again in the last couple of years.  Financial hardship can really put a strain on a marriage.  The normal odds of a marriage are only 50/50, at best.  So, we know as agents that we are going to encounter this from time to time over the course of our real estate career.  But, when the couple lists the house with a different agent, you realize that you are also a victim of this divorce. The reason a couple may not list with you is almost sweet.  You knew them when they were in happier times in their marriage.  They were excited about their mov... 09/13/2010

Have you priced out fencing these days?  It isn't cheap.  But, I find more buyers seem to be concerned with the countertop materials in the kitchen than with the condition of the fencing at most homes they are considering.  Don't overlook that fence.  Fencing these days can cost a lot more than granite countertops.  The last buyer I sold in Prosper, TX was considering updating a home that was built in 2003 and had laminate countertops and a fence that was showing signs of warping.  If the builders in some Prosper neighborhoods shorted us on anything, I'd say it was the original fencing materials.  We got quotes from both the granite contractor and the fencing contractor.  The fence was actually twice as expensive as the countertop quote.  Considering the extreme weather conditions that ... 09/12/2010

This is a real estate agent event, and must be rsvp'd, so please don't just show up.  RSVP and come on out to Prosper, Texas on 9-23-10.  I'd love to meet you and tell you all about life in Prosper from a resident Realtor's perspective and Prosper ISD from a Mom's perspective.  We have been delighted with the community and the school system since we moved to Prosper in 2006.  These events are great, and I hope to see you there! Discover Prosper Realtor Event - Thursday, September 23rd Gentle Creek Golf Club3131 E Prosper TrailProsper, TX 75078 RSVP by September 17th to prosperawarenesscommittee@gmail.com Participating Builders: Bloomfield HomesDarling HomesDave R Williams HomesDrees HomesGrand HomesHighland HomesHuntington HomesK Hovnanian HomesMegatel Homes The event starts promptly at... 09/10/2010

Right now is the leanest the residential leasing market has been all year in Prosper, Texas.  There are only seven (7) homes available for rent.  The rentals range from $1195 per month to $5500 per month.  The majority of the homes are over 3,000 square feet of living space, and built after 2003.  Two of the seven are sitting on 1.5 acres.  All seven are in the renowned Prosper school district.  Three of the homes are also offered for sale.  And, one isn't currently in the MLS system.  By comparison, we've had an excellent year, so far, of matching landlords and tenants in Prosper, Texas.  We've leased 30 homes, ranging in rental rates from $975 per month to $7,000 per month.  We've leased starter homes, luxury properties, acreage estates, and homes ranging in year-built from the 1960's... 09/10/2010

Here's a common scenario these days:  Your home listing is getting tons of hits on the internet, but only scattered showings.  Your showings aren't giving feedback (or your agent has to follow up half a dozen times before the agent gives any indication of how the showing went.)  Then, you do get feedback, but it seems too vague to have been given any serious thought.  You just can't figure out why your home isn't selling.  And, you are very frustrated. Welcome to the club.  We're all frustrated by the current environment in the housing market in our region, and we're one of the BEST regions in the country in which to live right now.  There are some things you need to know about, in order to realize that you aren't alone in your frustration.  There should be a little comfort in that.  Bu... 09/09/2010

How do you get your real estate information?  If it's from the Dallas Morning News, you may want to know that many real estate agents in Collin County, Texas wouldn't use the Dallas Morning News real estate section to wrap fish.  Online attention grabbing headlines?  Those have no bearing here.  So, where do you go to get honest and factual information about how the real estate market is doing in the North Texas Region?  Ask a local real estate agent, tied to the Collin County Association of Realtors, to give you a copy of the CCAR Pulse Report and review the report with you. The CCAR Pulse report is only available to Board members.  It's just one of MANY pieces of information to which the general public has no access.  The Pulse reports are available by city/town, and by month.  When a... 09/07/2010

Hyper-local:  serving a small geographic location.  When I first went into real estate, I thought the hyper-local agents, those who specialized in only one town, city, or region of DFW, were pretty lazy.  I tried to be the uber-agent - agent to all, and willing to drive all over this North Texas region.  After all, I was a 30-year resident of DFW.  I had lived North, South, and West of Dallas.  I went to high school and college here.  I knew the in's and out's of a lot of cities, and that knowledge was helpful to my clients.  I earned some name recognition and my sales volume was recognized.  I thought I had figured out this trade. There were a lot of DFW agents who had plenty of time to prepare for the recession that hit us in Summer, 2008.  How many other regions in the country had al... 09/02/2010

Do you have ICE in your cell phone?  A piece of good advice for anyone - not just real estate agents - is having a phone number in your cell phone under the contact name ICE (In Case of Emergency).  I work with clients.  They ride in my car.  We tour homes together.  We work together in serious contract negotiations.  But, would they know who to call in case of an emergency, if I were not conscious to tell them?  Probably not. Entering a contact name in your mobile phone is easy.  Entering one designated person under ICE takes the guess-work out of an emergency situation and let's your loved ones know quickly when a problem arises.  Be sure to let the person know that they are your designated contact in case of an emergency.  And, go one step further and make sure that you give them a l... 08/26/2010

I spoke to a couple today who wants me to take over their listing and help them find their next home in Collin County.  They already have an agent.  But, they sought me out and asked for me to take on their home sale as soon as they can terminate their current listing.  When I asked the reason they want to change agents, their response was "our real estate agent doesn't seem to have our best interest at heart".  Not the first time I've heard that.  But, what is a seller really saying? 1.  Their agent isn't communicating with them. They don't know where the listing stands.  They may never have seen some of the data that I share with them when they call me out to their home.  Their agent may very well have just stuck a sign in the yard, put a listing in the MLS, and nothing more.  Based o... 08/23/2010

Wishes all teachers, students, parents and administrators a great first day back to school and a wonderful 2016-2017 school year! 08/23/2010

It would almost be funny, if it weren't so sad.  North Texas worked it's way out of a recession between Summer 2008 and Summer 2009.  We've seen steady improvement in our housing market since then.  But, I see some people in Prosper reducing the price of their homes and continuing to give away equity that they earned in their home.  They blame the economy, but that isn't really the reason. When I list a home in Prosper, Texas now, in 2010, I am brutally honest with my homeowners.  You have to be, or you are just wasting everyone's time.  If condition is the issue, I owe it to them to give them a to-do list before putting the sign in the yard.  If amenities are the issue, then there may need to be a small investment in the house made in order to improve the marketability.  If the home is... 08/22/2010

This year is going to be another exciting year at Folsom Elementary.  To start off the year Friday August 20th, is Meet the Teacher Night and Popsicles with the Principals.                         Pre-K and Kindergarten: Meet the Teachers:  4:00 - 5:00 pm   Popsicle with the Principals: 5:00 - 5:30 pm   1st Grade through 4th: Meet the Teachers: 5:00 - 6:00 pm   Popsicles with the Principals: 6:00 - 6:30 pm For additional information and upcomming events at Folsom Elementary, please visit their website.   08/20/2010

This is Texas.  Bigger is better, right?  This is Prosper, Texas.  Home of the McMansion.  Big, beautiful homes average more than 3500sf on great big lots.  3-car garages are pretty much the norm here.  But, you can also find homes with more garage spaces.  Attached garages and detached garages.  All shapes and sizes.  Some of them almost too nice to be given the label GARAGE.  So, we agents start calling them GARAGE/WORKSHOP, MONSTER GARAGE, ART STUDIO, or PARTY BARN.  When you begin touring homes, you are hopefully 1. Represented by a local real estate agent, and 2. Well versed in your home search criteria.  You know - that list of requirements that must be in your next home, and that additional list of amenities that would be 'nice to have', but are not required.  Be sure to add the ... 08/18/2010

This coming weekend, Friday 8/20 through Sunday 8/22, is tax-free weekend in Texas.  We won't be having our weekly resale home tour of Prosper, TX homes this weekend, and we won't be holding any open houses.  Why?  Everybody will be at the malls and restaurants.  I've tried holding open homes and offering tours during tax-free weekend in the past.  But, experience has shown that it a more effective weekend for a much-deserved weekend off.  While others are cramming the malls shopping for back-to-school clothes, I'll be enjoying a respite from the heat in the comfort of my own home, organizing my closets and keeping the phone nearby in case someone does reach out to see one of my listings. Who would typically reach out during tax-free weekend to tour a home?  Young singles, downsizers, y... 08/17/2010