Real Estate in Review

Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions on real estate and give you some tips and tricks. Today we're going to talk about new construction and specifically, "Do I need an inspection on a new construction home?"

The answer is YES. So although the builder has every intention of building everything to code and building everything properly, he or she is also human as well and so things end up not always the way they should be. So having a home inspector come in and putting a second set of eyes on your home is a great idea and he can flag up any items that we could then use as a punch list, and those are the items that we'll want the builder to finish before we actually close on the home. This is also a great way to point out to the builder that a third party has flagged up these items, someone who's familiar with housing code and the way things need to be in a home. We recently had some clients who the air conditioning, the HVAC unit, in their house was zoned improperly.  It was picked up by the house inspector and the builder gladly fixed it as he was unaware there was even an issue.

So until you start turning things on and you start trying to see if they work, a lot of times we don't know if they will. It's better to have this done before you move in, we don't want to find this stuff out after you move in. So we always do an inspection right before we have our punch list meeting with the new builder. And then we use that inspection report as the punch list to go over with the builder of things that we want finished before closing. This is something that is very important and is an additional cost, of course, but it also gives you some peace of mind when you're moving into a brand new home. This is Gina Mullen with Gina Mullen Realty. Thank you.

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 Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions regarding real estate and give you some tips and tricks. So today we're going to talk about relocation.

I have relocated many times myself so I'm very familiar with the process from both sides. We are here to help you find where you're going to settle yourself and or your family when you get down here to Texas. We've worked with many companies and many relocation companies. Each relocation company has it's own relocation addendum, which is what they will help you do and cover for you. And each company that is moving a client also has their own policies as to what they will help you with. And it is our job to help you navigate that. It's also our job to help you find out where you want to settle.

So if you have a child who is very sports minded and involved in sports, we can help you figure out where that is that you want to be. If you have a child who is into fine arts, we can help you figure out where that is the best place to be. And if you have a child who's great in academic decathlons, we can point you in the right direction for that as well. We have access to a lot of homes that aren't even on the market yet. So yes, you can find homes all throughout the internet, but the "coming soon" properties and or properties that are not even listed yet, we have access to a lot of those and can sometimes get you into those homes before they even hit the market. We would love to be able to help you and your family find where you want to go.

If your children have specific interests such as horse riding lessons or tennis, we can help you figure out where those activities will be so that we can find a home that works well for you as far as your distance to work and your distance to your children's activities. A Google map may tell you that, you know, you're 28 minutes from the office and 24 miles, but we're familiar enough with the area that we know traffic patterns and we know that that may actually take you an hour if you live there, but if you live here, then yes, you actually will be within that 30 minute timeframe. There's a lot of navigation that needs to be done, not just with your home purchase, but you have to find school districts, you have to find doctors and dentists, and activities, and all kinds of things for yourself and your family. But we can definitely help you with the real estate relocation. We've been doing this for many years. We know exactly how to help you figure out what exactly your company will cover and help you find the best property that will be covered under your relocation addendum and that will meet all your family's needs. 

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So there has been a shift. No, we're not saying that the market is getting ready to go bust, but what we are saying is that we're seeing some differences in the market. So no longer are we seeing houses on a regular basis selling in just a few days on the market. That seems to have gone by the wayside unless it's just a spectacular house because it has a fabulous lot or it has a fabulous finish out and is different from the other homes around it. So what we're seeing a lot of is that buyers are taking their time finding homes. No longer are they grabbing at the first thing that goes on the market and they're getting picky about what they want in a house. And houses without any updates in line with today's current trends are seeming to sit on the market longer because buyers at this point are not even wanting to do paint, which used to be just a simple change to a house.

Buyers are really wanting to walk in and have a home turnkey. So some of the things that we can do that will help a buyer get most of the way there in seeing how great your home is, is put a fresh coat of paint on the walls and the trim. Try and find something that's in line with today's current trends. Most of the people out there are still looking for gray on the walls. And then of course the trim to be white. That is what most buyers are looking for.

We can change out the backsplash in the kitchen pretty inexpensively. Usually most real estate agents have tile vendors in their lists that can do that for approximately $750 for most backsplashes and a current back splash, even if the granted hasn't been changed out, makes a huge difference as well. And the flooring, if that's in your budget, most of the buyers are looking for all of the flooring on the first floor to be the same type of flooring. Now that may or may not be in your budget, but if you're looking to do something for flooring, that should be what you would do. I would not replace carpet at this point. Most buyers are coming in and taking up carpet and putting down the same floor that's in the rest of the house if they can match it, and if not, they're putting in all new floor all throughout the bottom of the house.

Painted cabinets is another one, if you paint the kitchen cabinets. I know that's really hard for some people with all wood cabinets, but that is what buyers are looking for is painted kitchen cabinets.

So if you're looking to put your house on the market, we do a pre listing consultation, and if you do have a budget to do some things in the house, then we would love to meet with you to do a pre listing consultation and let you know where to put that money, where you're going to get the most bang for your buck and get the most return with the changes you make in the house.

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Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all of your real estate questions and give you some tips and tricks. So today we're going to talk about a repair amendment.

So this is a document that the buyer gives to the seller during the option period. They are usually items that are found on an inspection report that the buyer has done and they are requesting the sellers to either do the repairs or offer a monetary credit to be given at closing. Some of the items that we see frequently on our inspection reports and repair amendments are items and issues with the roof, with the pool, with the HVAC system, water heaters, and electrical.

So if you haven't had your roof checked in a while, now would be a good time to have someone check a roof. We have a roof vendor who will come out and we'll do a roof inspection for us at no charge. That lets us know if there's any problems with the roof. It is always better to handle that before the house goes on the market than during the repair amendment. It may require something as simple as a couple of shingles need to be replaced or it might be recommended that an insurance claim be placed before the house is put on the market. But again, it's always better to have this checked out before we go on to the market.

Next would be the pool. We see a lot of issues with the pool. Usually the pool heater, which isn't used very frequently down here in Texas, but just like anything mechanical, if you don't use it, it's less likely to work when you try to get to use it. We would want to make sure that we knew that before the house went on the market. Any cracks or leaks in the pool, we are usually better off if we find those out before we go to repair amendment.

The HVAC system, the HVAC system needs to be operating within temperature differentials. If it's a resale home, no one is expecting that a new air conditioner be placed in the home unless it's not functioning. But as long as it's tuned up and it's functioning properly, then that would not be considered an item that would be eligible for a repair amendment because the spirit of the repair amendment is for items that are not functioning properly to be repaired or replaced. If an air conditioning unit has been tuned up and it is functioning within temperature differentials than it is considered functioning.

Next would be water heaters. We get a lot of questions about water heaters. "How old are the water heaters?" We see a lot of the emergency valves that at inspection don't pass, so it would be a good idea to get the hot water heater checked out too to make sure that it's functioning, that there's no rust in the pan, or anything else that needs to be addressed before you list your home.

Last but not least is electrical. We want to make sure that we don't have any double tapping, that the amperage that's in the circuit panel matches what it needs to. Sometimes it's too big, sometimes it's too small, sometimes we have wires that are not grounded properly and these would all be items that we would want to get checked out beforehand that way we don't have to deal with it when the buyer puts in a repair amendment. And if it is requested during the repair amendment, we already have the documentation to show that we've had it taken care of.

So this is Gina Mullen with Gina Mullen Realty, giving you tips and tricks on what to get checked out before you list your home.

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So one of the biggies is a pool. Everybody loves a pool, especially here in Texas. A pool's a great way to cool off in the summertime, but make sure you put a pool in because you want a pool because you will not see really any of that money on return on the sale side. Houses with pools do not necessarily comp out at a higher price per square foot than homes without pools. Some people, as a matter of fact, don't want pools and they will steer away from homes with pools. So there's a market range for every area, sometimes every neighborhood, and regardless of what upgrades you may have in that house, you will not exceed that range for that market area. A lot of people think that because they put a pool in that makes their house more valuable and it doesn't, it may make it more desirable to those people who want to pool, but it doesn't necessarily make it more valuable.

Another item is water softener and water filtration systems. They are great to have, people love them, but they don't necessarily increase a listing price on a home.

A roof is another item. Some people have a level four impact roof or slate roof or special type of roof. And although that roof may be pretty or it may be expensive or high end luxury roof, it will not add more value to your home in comparison to the other homes in the neighborhood. So if you're putting on an extra special roof and that's not a standard in your neighborhood, just know that you might not get that on return.

Extra insulation or green items, those are great too. They appeal to a lot of buyers, especially those who are conscious of the environment. However, they too will not necessarily bring more value to your home.

And last but not least, is an outdoor living area. A great outdoor living area is a great place to entertain. People love outdoor entertainment areas, and it may make your house stand out against another house in your neighborhood that does not have one, but sadly enough, again, this will not necessarily bring any more value to your home.

So when you're thinking about things to add to your home, these are just a list of a few of the items that you really want to make sure that you want to have and that you're going to use them because they may not bring you any more money when it comes time to sell your home, but definitely may make it more attractive in comparison to some of the other houses. This is Gina Mullen with Gina Mullen Realty. 

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Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions regarding real estate and give you some tips and tricks as well. We get asked a lot of times “Where can I build new and be in the Argyle School District?”

So there's a lot of options right now for building new in the Argyle School District. So starting on the Southern end, we have the new development Trail Wood and that is on the south side of 1171 where it intersects with 377 and those homes start in the three hundreds. Right across the street is Canyon Falls and a large portion of that neighborhood on the east side of the neighborhood is zoned to the Argyle School District as well. And those homes in there start in the high three hundreds.

Making our way a little further North and a little bit over to the West, we have Harvest by Hillwood and there are homes in there starting in the mid two hundreds, over at Harvest Town Side, that are zoned to the Argyle School District and then starting in the high two hundreds low threes is Harvest Meadows and some of the other neighborhoods that are also zoned to the Argyle School District. 

Coming a little bit further East and over to the 377 corridor, over there, we have the Lakes of Argyle, which is a new development on the west side of 377 North of 407 and those homes start in the high five hundreds and both Southgate and Our Country Homes are building in there. 

A little bit further South, and South of 407 where it intersects with 377 is the new Waterbrook community that will have Lenar in there as the builder, and those prices have not been released yet. They have batted around a certain price range, but they've not given us any definites yet. 

The Oaks of Argyle still have a few homes left in there and those homes are in the high fives and $600,000 mark. 5T up there off of Country Club North of 407 on off of 377 has homes that start in the high five hundreds as well. There's also lots back there where you can build a home and Southgate and Our Country Homes are building there as well. Then we have the community of Hat Creek, which is technically a Bartonville address but zoned to argyle and that is a bring your own builder and buy your lot back there. So those lots back there are some of the most reasonable priced lots right now. They're all over two acres and you can bring a custom builder in and design, any home that you would like to build.

There are also lots scattered all throughout Argyle. Some of the developers are developing, you know, four or five, six lots at a time. We also have homeowners who are willing to parcel off some of the land that they own for you know, high end custom builds. Those homes would more than likely start in the $900 range and go all the way up into a couple of million dollars or even higher depending on the amount of land you have. 

So right now those are the opportunities that we have for new construction that is zoned to the argyle school district. If you would like help finding a home in the Argyle school district for your family, please call Gina Mullen with Gina Mullen Realty. Thank you.

Today we're going to talk about HGTVs 2019 smart home that is located in Roanoke, Texas. This home, if you've seen the pictures, is just fantastic. There are so many things in this home that appeals to the modern buyer. We've got all the technology in there such as voice activated lights. You can dim them, you can make them brighter. There is a swash clothing system in the master closet that refreshes your close in 10 minutes and you can just put them on and wear them. There is also motorized closet rods that come down and let you get a shirt off of a rod on the top of your closet. There's a virtual driving range in the garage so you can perfect your swing.

There is a screen, a projection screen on the back patio so you can watch movies out there with your family. There are smart ovens that you can operate with your phone and a touchless faucet and many, many more all throughout the house. We see some of the design elements that we've come to expect with current trends and some new design elements that we're just starting to see peak into the housing industry. So we're still seeing gray this time. We're seeing varying shades of gray. We're seeing some accents of darker gray. We're starting to see pops of color again in the homes. We're seeing textured tile, so whether it's colored or whether it's white. We're starting to see a lot of texture in there and that's what's giving it the aesthetic appeal is that even though it may be monochromatic, there's a texture there that gives it interest.

We're still seeing everything light and bright painted cabinets. We're starting to see some color peeking through with the cabinets as well. We're seeing lighter countertops, larger laundry rooms for folding clothes. This house, the HGTV smart home is done in what is called a modern Texas style. We see a beautiful front door that lets light in, light and airy all throughout the house. It's got beautiful beams on several of the ceilings and this also has a little bit of an industrial feel as well. In the kitchen, there is a light in there that is hanging from metal rods, so we get a little bit of that going on as well. And then the master bathroom has a very dramatic effect. There is black tile that is shaped irregularly and laid all throughout the wet areas in the bathroom. And the cabinets are painted gray. A darker gray than what we've been seeing, but still gray. So again, we see a lot of the trends through the house that we have been seeing, but there's some new trends as well. So click here and you can enter to win the HGTV 2019 smart home in Roanoke, Texas. 

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Today we're going to talk about the loans most commonly seen in a residential real estate transaction.

The first is a conventional loan. This allows for as little as a 3% down payment. Mortgage insurance is required if the loan value is more than 80%. Business assets can be used for closing funds only, gifts can be used for down payment, and your credit documents are good for 120 days. We want to make sure that the whole time that we're in a real estate transaction, that we don't make any large financial decisions such as furniture purchases, cars, timeshares, vacations, no extra money on the credit cards, because it will need to be reverified along with your employment before a loan closes.

On an FHA loan, you can have a down payment as little as 3.5% and the credit documents are good for 120 days as well. On a VA loan, no money is needed down. There is no mortgage insurance, and the credit documents are good for 120 days. On a USDA loan, no money down, and a septic system, you will need to have an inspection on that. So these are the kinds of loans that we see most commonly in a real estate transaction in today's market.

Please call Gina Mullen with Gina Mullen Realty, and we can hook you up with a preferred lender who will be able to give you all the information you need. 

Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions on real estate and give you some tips and tricks as well. Today we're going to talk about curb appeal.

We want our curb appeal to have the most dramatic effect possible. We want people to drive up and go, "Wow, the front of the house looks great!" So how do we do that? Well, we want to clean out the flower beds and get rid of all the weeds and maybe any grass that has grown in there. Let's get in some dark black mulch. I know in previous years some of the other colors were popular, but right now that mulch that's almost black is really what people are looking for regardless of the color of the home. Let's get the bushes trimmed up. Let's get the lawn mowed and edged. Edging really gives it that polished look that we're looking for. Let's get the windows clean. You would be amazed at how much better the windows look in pictures when we have them taken and it also makes an impression when people drive up to the home and they see that it's been well taken care of.

Let's clear off the front door of any decor items that we may have on there. If your door needs some touch up, either stain or paint, let's do that before we have pictures taken and we have people start seeing the home as well. If you've got any type of cedar accents and they need a fresh coat of stain, let's get that done. Same with your fence. If your fence can be seen from the front and that needs a good staining, let's get that done as well because people will notice if the fence is in need of some freshening up. We want to put a new welcome mat in front of the front door and if you have a little porch in the front, a great bistro set or some tall colorful planters would look great as well. And then last but not least, some seasonal color. Seasonal color up by the front door, throughout the flower beds, and in any other areas were plantings would be, is a great way to make a huge visual impact and they look really great in pictures as well. 

Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions regarding real estate and give you some tips and tricks. Today we're going to talk about pricing your home to sell. This is a great time of year to talk about this. It's the busy time and we're getting ready for a lot of houses to hit the market and one of the things that sellers want to know when you come in for a listing appointment is “What are we going to sell the house for?” That depends on a lot of different things and that depends, you know, luxury homes are comped very differently than non-luxury homes, but regardless of the price level of the home, we want to make sure that we get the price right when we first go out. 

If we don't get the price right, then we end up doing something that's called chasing the market. We do not want to chase the market. That means that we've gone out too high, especially if we just want to see what happens if we put it out there at this price. Then as we reduce the price of the home, the value of the home decreases because it's been sitting on the market longer and longer. So by the time you get down to the price you should have started off at, the home has lost value because it has sat on the market now for quite some time. And once it sits on the market, buyers look at the house very differently. They don't see the house to be worth what the listing price is, the asking price, they feel maybe there's something wrong with the home. They come to the home with a completely different attitude than if a house is fresh. A house gets most of its attention the first two weeks on the market.

So a lot of times when I come in, if what my recommendation is, based on what the market is telling me a home is worth, sellers might have a different price in mind. And sometimes it's not something that they want to hear. But if I'm telling you something that makes you uncomfortable, you know that I'm telling you the truth. I'm not telling you what you just want to hear. I want to make sure that you go out at the right price so that we have as successful a real estate transaction as possible. If we go out at the right price, then we will see a lot of traffic during this first two weeks and hopefully we'll get you under contract during those first two weeks If we don't get the price right where we stick a price out there just to see what happens or see if anyone bites, a lot of times we end up doing ourselves and the property disservice because we tend to sit on the market longer.

When I do a listing appointment, I come in with hard numbers. I show you what the other houses look like in comparison to yours. Houses that sold at this price point look like this, houses that sold at this price point look like that, and we figure out where in that range that you want to fall. And if we're priced well, then more than likely we will get a contract on the property in the amount of time that we should. So when you're thinking about what you want to price your house to sell, take into consideration what a realtor is telling you or the comps that they're bringing to the table. And realtor should never tell you what to price a home without showing you what the market is saying that your home is worth. And when the market tells you what your home is worth, and you listen to the market and you price it well, then it usually ends up being a successful real estate transaction for all.