Top 5 Places to Spend Money to Increase Your Home Value

Top 5 Places to Spend Money 

to Increase Your Home Value

1. Flooring - Flooring can be the single largest dollar-for-dollar return on investment you can make to increase your home value. Worn or stained carpet, outdated tile and grout lines, and poor installation jobs can negatively affect your home value. In the Dallas area carpet pricing starts around $1.25/sqft with pad installed, tile and hand-scraped hardwoods at around $5/sqft.  

2. Painting/Texture - A freshly painted house is vital to attracting the highest value for your home. The idea here is not to please everyone, but rather appeal to the largest section of buyers possible. Neutral colors should replace personal favorites (ie. blue, pink, purple, green. etc), and the only people that want old floral wallpaper are our grandmothers.

3. Kitchens - A fabulously updated kitchen may be the norm in your neighborhood.  Be careful here, because some neighborhoods may not warrant the granite counters and custom cabinets. In many neighborhoods we see in the Dallas area, a brand new kitchen can mean more 10% in pricing.

4. Bathrooms - Cultured marble may have been stylish in 1976, but nowadays granite is in.  Large tiles and slim grout lines bring bathrooms into the 21st century. Also in vogue are seamless shower surrounds, jetted tubs, and framed mirrors.

5. Fixtures - NO BRASS! Most buyers aren't aware of what is making the home "feel old", but many times it is because of the fixtures. For less than $1000 you can change out all of the doorknobs and light fixtures and give the home an overall facelift.

If you are thinking about selling, call us today!

Get a FREE home evaluation at http://www.mydallashomefinder.com/homevalue/

2014 New Year Greetings & Market Predictions

Happy New Year from Scott Neal Real Estate!

We hope that everyone will have a great year and accomplish whatever you set out to accomplish!  I personally have been able to create a great business with dedication and a good plan.  Each and every day we are working towards serving our clients better and helping more families buy and sell real estate in the Dallas area.


Here are my Market Predictions for 2014:

Inventory will continue to stay below 4 months.

Normally, 5-6 months worth of inventory is considered a "flat" market; it is either a seller's market nor a buyer's market.  Over 7 months is a buyers market; there is more to choose from and less competition for housing.  It's when the market starts to dip below 4 months that things start heating up.

In 2013 we saw a shortage of inventory which lead to one of the best real estate markets nationally since before the crash of 2008.  I believe 2014 will be very similar to 2013.

Buyers will be paying higher prices.

2013 saw some areas increase by more than 10% in median prices.  Buyers routinely encountered sellers less willing to accept offers less than asking or with large closing costs contributions.  And with less inventory in the market and more buyers, some aren't willing to take a chance and miss out on a good home.

Sellers will see multiple offers within the first few days on market.

Spring 2013 was a strange time in real estate.  I talked to some "old-timers" who told me they had never seen such a frenzy.  Interest rates were at all-time low's, inventory was almost non-existent in some parts of town, and buyers were being caught in an emotional bidding war to grab up the only houses for sale.

I can see how this will happen again this Spring and Summer.  Buyers, be prepared.  Sellers,  get ready.

Interest rates will rise.

This topic had been the talk of the real estate industry throughout 2013.  The economy is gaining strength, consumer confidence is growing stronger, and housing is leading the charge.  The FED was keeping interest rates artificially low when they were in the 3's, but now we are expecting to see rates rise to the mid-5's and maybe even into the 6's.  Every time mortgage rates rise, the cost to purchase rises too.


If 2014 looks like the year for you to get into the real estate market, give us a call to help!

Scott Neal Real Estate

214-295-5060

info@scottnealrealestate.com

Buyers: Start your home search at http://www.mydallashomefinder.com

Sellers: Get a FREE home evaluation at http://www.mydallashomefinder.com/homevalue/

What is the Title Company's Role in Real Estate Sales?

What is the Title Company's Role in the 

Real Estate Sales Process?

It has come to my attention over my years in the real estate business that consumers generally are confused about many aspects of the sales process.  The title company's role in the process seems to be one of those areas of the greatest confusion.  

So what's the big deal?  Don't you just make an offer and sign some documents?  Not so fast!

The title company plays a very important role, indeed.  Their job primarily is to ensure the that the chain of title is clear for the new buyer, and to also insure the title.  

Lots of research goes into the process.  From gathering tax information, to helping settle past accounts, the title company not only researches the chain of title but most importantly issues insurance guaranteeing the chain of title.  This is most important to buyers receiving a mortgage for their new property.

Here at Scott Neal Real Estate, our preferred title company and closer is North American Title in Garland, TX with Shelly Hooper, Escrow Officer.  Shelly can be reached at 214-703-9607, shooper@nat.com.

Start you home search today at 

http://www.mydallashomefinder.com/

 

 

Thinking about selling?  Get a FREE home value report

Go to http://www.mydallashomefinder.com/homevalue/