Living In DFW

The Big Advantage If You Sell This Spring

Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. HousingWire shares:

“. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”

The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. And today, the number is much lower:

“Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year ago (850,000). Unsold inventory sits at a 2.6-month supply at the current sales pace, down 10.3% from January but up from 1.7 months in February 2022.”

Why Does Low Inventory Make It a Good Time To Sell?

The less inventory there is on the market when you sell, the less competition you’re likely to face from other sellers. That means your house will get more attention from the buyers looking for a home this spring. And since there are significantly more buyers in the market than there are homes for sale, you could even receive more than one offer on your house. Multiple offers are on the rise again (see graph below):

If you get more than one offer on your house, it becomes a bidding war between buyers – and that means you have greater leverage to sell on your terms. But if you want to maximize the opportunity for a bidding war to spark, be sure to lean on your expert real estate advisor. While we’re still in a strong sellers’ market, it isn’t the frenzy we saw a couple of years ago, and today’s buyers are focused on the houses with the greatest appeal. Clare Trapasso, Executive News Editor at Realtor.com, explains:

“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country. So, this spring, it’s especially important for sellers to make their homes as attractive as possible to appeal to as many buyers as possible.”

Bottom Line

If you’ve been waiting for the right time to sell your house, low inventory this spring sets you up with a big advantage. Let’s connect today to make sure your house is ready to sell.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Robin McCoy Realty Group and Living in DFW does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Robin McCoy Realty Group and Living in DFW will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Effortless Charm Staging with Nedra Hines

In this episode I talk with Nedra Hines with Effortless Charm Staging. She specializes in staging vacant homes in the Dallas / Fort Worth metroplex. Originally from a small town located just outside of Houston, Texas, she graduated from Sam Houston State University with a degree in Finance and has lived in the Dallas area for over 20 years. In addition to vacant home staging, she offers occupied consultations and paint color consultations. She previously served as the VP of Membership of the Real Estate Staging Association (RESA) Dallas Chapter and continues her membership with RESA National.

She has her Staging Design Professional and Master Color Consultant certifications with Staging Studio and Occupied Consultation Specialist certification with Bobbie McGrath. The training courses helped her discover what she didn’t know about Home Staging and what an involved business it is. The thing she loves the most about the Home Staging industry is the commitment of the seasoned stagers and their willingness to elevate the profession so that those in her profession are respected for what they provide. Nedra explains that, when starting out, it’s very easy to think that staging homes will be fun and easy. Thankfully, she has her Project Management Professional certification because it’s mostly project management with a bit of flair!

One of the most exciting endeavors for this year for Nedra involves attending more of the RESA National webinars because they provide a ton of value when it comes to professional development. In her downtime, you will find her browsing different inquiries in the staging Facebook groups, attending weekly Toastmasters meetings, exercising, or watching YouTube.
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Nedra Hines: Effortless Charm Staging
Instagram: @effortlesscharmstaging
Facebook: Effortless Charm Staging
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Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

We Are One Heart with Pat Nixon

In this episode, I speak with Pat T. Nixon about our senior community and creating a better life plan for our loved ones as they age. Pat is the president, and CEO of We Are One Heart Foundation, Inc, a 501c3 nonprofit organization specializing in long-term care management for seniors as well as senior housing. Pat earned an Associate Degree in Nursing from South Suburban College, and a Bachelor’s Degree in Nursing from Indiana Wesleyan. To support her natural entrepreneurial spirit and sales talent, Pat completed her Master’s Degree in Business Administration at Olivet Nazarene University. As a Registered Nurse, she holds a clinical background in management of geriatric patients in both acute care, home health and hospice settings. After a successful career in Medical Spa sales and marketing, Pat found her passion at the bedside through therapeutic touch and intentional presence. She successfully owned and operated Beauty Trend Mobile Spa offering spa services in the home setting for seniors who were unable to visit a brick-and-mortar location.

“How Blessed I am to be entrusted with such a noble and rewarding place in the lives of others.”
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Pat Nixon: We Are One Heart Foundation
Pat Nixon: Windsor House
Pat Nixon: iNurse Delegate
Facebook: Pat T. Nixon
Facebook: We Are One Heart Foundation
Facebook: Windsor House Senior Care Homes Denton
Instagram: @weareoneheartfoundation
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Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Overcoming the Fears of Buying a House with Mylo Draven

In this episode, I’m back with Mylo Draven of VIP Mortgage to talk about what’s going on in the finance world. Mylo is an author, speaker, and an Award-Winning Loan Officer. He doesn’t pull any punches when working with his borrowers; he wants to make sure every client knows what the lending process entails and requires. His greatest pride is a successful transaction where the new homeowner is happy.

“It just starts with a thought: ‘I want to buy a home.’ The next thought should not be, ‘ugh but my credit is horrible’ or ‘oh I don’t have enough money’ or ‘oh the rates are high.’ The next thought should be ‘I need to call a lender. I need to call a realtor. Keep the forward momentum because ultimately what someone thinks is a hard stop, for you and I is nothing. It’s just a day in the life of the business.”

Who you’re in business with matters! To get in contact with Mylo for any and all of your lending questions, use any of the methods listed below.
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Mylo Draven: Loan Originator
Email: hello@mylodraven.com
Phone: 682.351.2875
Facebook: Mylo Draven, Loan Originator, NMLS 1109584
Instagram: @mylo_draven
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Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Homebuyer Activity Shows Signs of Warming Up for Spring

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest:

“Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.”

We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia:

“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.”

That means the number of mortgage applications shows how many buyers are applying for mortgages. Put another way, an increase in mortgage applications means an increase in buyer demand – and as Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains, application activity started ramping up as mortgage rates fell steadily in March:

“Application activity increased as mortgage rates declined . . . recent increases, along with data from other sources showing an uptick in home sales, is a welcome development.”

In fact, we can see how mortgage rates have a direct impact on applications over time. As rates rose dramatically last year, applications fell in response (see graph below):

The recent uptick in mortgage applications, as well as the decline in mortgage rates, is good news for sellers because it means more buyers are actively looking for homes.

What This Means for You

Buyers are coming this spring, which is typically the busiest time of the year in real estate. And as Realtor.com tells us, if you’re a seller, you need to prepare:

“If homeowners are planning to sell in 2023, now is the time to get ready.”

The means working with a local real estate agent to maximize your home’s appeal and get it listed at the ideal price for your area.

Bottom Line

The housing market is warming up for spring. If you’re thinking about selling your house and taking advantage of this recent uptick in buyer activity, let’s connect.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

The Key Advantage of Investing in a Home

Some Highlights

Buying a home is a major way to build wealth and gain financial stability.

That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity.

Let’s connect today so you can start investing in homeownership.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Get More Women Riding with Lisa Uranga

In this episode, I speak with Lisa Uranga, of Dirt Side Sisters and Dynamic Bike Fit, about mountain biking. Lisa has been a health and fitness professional since 2007. She has serviced over 8,000 personal training sessions and has obtained certifications through the National Academy of Sports Medicine as a Performance Enhancement Specialist, Corrective Exercise Specialist, and Fitness Nutrition Specialist. Lisa and her husband Carlos began mountain biking together in 2009. A few short months into their new cycling journey they began racing and were immediately hooked. Since then, she has won over 75 bike races, 5 Texas State Championships, is a certified mountain bike instructor, Level 1 Retul Fitter, and has started her own non-profit organization called Dirt Side Sisters, whose mission is to create a gateway to get more women riding mountain bikes confidently by increasing their skills and building community around them.

Contact Lisa for all your mountain biking needs! All her contact info is included in the shownotes below. Also available on your favorite podcast players.
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Lisa Uranga: Dirt Side Sisters
Lisa Uranga: Dynamic Bike Fit
Facebook: Dirt Side Sisters
Facebook: Dynamic Bike Fit
Twitter:  @dirtsidesisters
Instagram:  @teamuranga
Instagram:  @dirtsidesisters
Instagram:  @ntxdynamicbikefit
_______________________________________

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Trying To Buy a Home? Hang in There.

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them.

Long-Term Benefits Outweigh Short-Term Challenges

Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity. Freddie Mac puts it this way:

“Homeownership not only builds a sense of pride and accomplishment, but it’s also an important step toward achieving long-term financial stability.”

The key there is long-term because the financial benefits homeownership provides, like home value appreciation and equity, grow over time. Those benefits are worth the short-term challenges today’s sellers’ market presents.

Mortgage Rates Are Constantly Changing

Mortgage rates have been hovering around 6.5% over the last several months. However, as Sam Khater, Chief Economist at Freddie Mac, notes, they’ve been coming down some recently:

“Economic uncertainty continues to bring mortgage rates down. Over the last several weeks, declining rates have brought borrowers back to the market . . .”

Lower mortgage rates improve your purchasing power when you buy, and that can help make homeownership more affordable. Hannah Jones, Economic Data Analyst at realtor.com, explains:

“As we move into the spring buying season, mortgage rates have ticked lower, a welcomed sign of progress towards affordability.”

The recent drop in mortgage rates is good news if you couldn’t afford to buy a home when they peaked.

Home Prices Will Increase

According to the Home Price Expectation Survey, which polls over 100 real estate experts, home values will go up steadily over the next few years after a slight decline this year (see graph below):

Rising home prices in the coming years means two things for you as a buyer:

Waiting to buy a home could mean it’ll become more expensive to do so.
Buying now means the value of your home, and your net worth, will likely grow over time.

Bottom Line

If you’ve been trying to buy a home, hang in there. Mortgage rates have ticked down some recently, home prices are forecast to increase in the coming years, and the long-term benefits of homeownership outweigh many of the short-term challenges.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Why Aren’t Home Prices Crashing?

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

“[H]ome prices will be steady in most parts of the country with a minor change in the national median home price.”

You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low prices will go:

“We simply don’t have enough inventory. Will some markets see a price decline? Yes. [But] with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”

As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now.

That lack of available homes on the market is putting upward pressure on prices. Bankrate puts it like this:

“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”

If more homes don’t come to the market, a lack of supply will keep prices from crashing, and, according to industry expert Rick Sharga, inventory isn’t likely to rise significantly this year:

“I believe that we’re likely to see low inventory continue to vex the housing market throughout 2023.”

Sellers are under no pressure to move since they have plenty of equity right now. That equity acts as a cushion for homeowners, lowering the chances of distressed sales like foreclosures and short sales. And with many homeowners locked into low mortgage rates, that equity cushion isn’t going anywhere soon.

With so few homes available for sale today, it’s important to work with a trusted real estate agent who understands your local area and can navigate the current market volatility.

Bottom Line

A lot of people expected prices would crash this year thanks to low buyer demand, but that isn’t happening. Why? There aren’t enough homes for sale. If you’re thinking about moving this spring, let’s connect.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com

Best Flowers to Plant for Spring

Springtime is here, and it is the time to get out and celebrate nature. One of the best ways to enjoy the season is to bring color and aroma to your yard or garden by planting varieties of early and late-blooming plants. In addition, you promote biodiversity on your property by attracting pollinators like bees and butterflies. We’ll show you a mix of the best early to late spring flowers and guidelines about when to plant and how to care for them. First, we’ll begin by explaining the difference between perennials and annuals.

Perennials and annuals

It’s important to know how these two planting groups differ so that you can plan and coordinate a combination of blooms for the most favorable display. Perennial flowers regrow every spring, while annuals live for only one growing season. If you are looking for fast growth and a quick splash of color, annuals are a good choice if you are okay with replanting them yearly. They fill in the gaps and add curb appeal. Perennials are usually more expensive, but they are a worthwhile investment because they are long-term and tend to grow slowly. You will have the best of both worlds by planting annuals and perennials due to longer and more intermittent bloom periods and varying hues.

If you are looking for flowers that live for more than two years, some suggestions to consider are the peony, daylily, hosta, iris, lavender, black-eyed susan, aster, tulip, daffodil, hyacinth, crocus, lily of the valley, and lilac. Those that are heartier and don’t mind the cold will come up in early spring, such as the crocus, iris, tulip, daffodil, lily of the valley, and hyacinth. They have bulbs that need to be planted in the fall and can be split to produce more. Others can be grown from seeds, such as Shasta daisies, black-eyed Susans, yarrow, and purple coneflowers. If you prefer starting with larger plants, you can choose shrubs like azalea and forsythia or trees like magnolia, apricot, or dogwood.

Types of perennials and annuals

While your perennials provide a basic long-term structure, annuals fill the spaces in between with bright colors and conveniently rapid growth. Although short-lived, many are popular for their availability in multiple colors and can come in various sizes. Examples of flowers that only grow one season are pansies, zinnias, sunflowers, marigolds, and petunias.

Timetable and care

Flowers best for early spring planting can handle the cooler air, such as sweet peas, pansies, petunias, and snapdragons. Once the summer heat arrives, though, they will fade. Therefore, you should plant other species in between that will bloom throughout the spring and summer, like gladiolas, roses, sunflowers, and summer lilies. When planting seeds or transplanting potted plants, follow directions for proper placement as per their sun exposure requirements. Among many that require full sun and are drought intolerant, zinnias, marigolds, peonies, hibiscus, and sunflowers are some examples. Some that thrive in the shade or indirect sunlight are begonias, fuchsia, impatiens, primrose, and lily of the valley.

Bottom Line

Once you know the varieties of early and late spring blooms in either the annual or perennial family, you can start planning ahead for the season to sow. For the best results, follow product packaging directions or consult a professional gardener or botanist. Also, remember where to place your plants for the healthiest and most robust results, with attention to proper sun exposure, watering frequency, and soil use. With practice, you will learn to cultivate a diverse garden that you can beautifully maintain and enjoy throughout the season.

Free Buyer Guide

Free Seller Guide

45 Easy Ways to Sell Your Home Faster

Robin McCoy is a Texas Realtor with Keller Williams Realty. License #0582766
RobinMcCoyRealty.com | 214.226.3770 | RobinMcCoy@kw.com