James Utsey’s Blog

Ok…so you have heard a little or a lot about the $8,000 tax “credit” but you are not sure how it all applies to you? Here are some very simple things to know and remember.

1) I like to call the tax “credit” a “rebate”. Why? Because, when you qualify, you will get as much as $8,000 back in rebate form from the Fed! Let’s say, for example, you qualify for the full rebate, and you were due a $1500 refund from the IRS. You will now be receiving $9500! Incredible huh?

2) Qualifications - The government considers you a “first time homebuyer” if you have not owned a primary residence in the last 3 years. There are some exceptions that will allow you to have some investment property—even vacation homes. Just not a primary residence in the last 3 years.

Income—fairly generous income allowances! Income of up to $75k for a single person, or $150k for a couple. There is also a possibility of a partial rebate if your income exceeds these numbers!

3) And most recently—HUD is now allowing the $8k to be “monetized” or used as a partial loan for closing costs during the actual purchase! This is VERY exciting news! 

4) There are some 100% loan programs available in our area that allow seller contributions and/or use of the monetized $8,000 for closing costs!

This is truly an incredible opportunity for you to take advantage of! Give us a call at 972-938-2222 so we can match you with a lender, get you qualified, and find your perfect home today!

Best,

James 

Keller Williams Realty Elllis County

Where is that crystal ball when you need one? With much of the country in a Buyer’s market, North Texas has remained more balanced—yet weighted toward the Buyer’s favor. That future vision would sure come in handy when it comes to determining the best time to buy or sell!

Some food for thought:

Most people who are selling, are also buying. Simple, but true. Unless you have sold and plan to rent, move in with someone, or some other scenario I haven’t thought of—you will buy another home after you sell.

Is there a better time to buy than in a buyer’s market? Take a few moments and ponder that question. Let’s even consider the possibility that the home you have to sell is worth less than you hoped. Some simple math illustrates the enormous opportunity that could be waiting for you in that new property you really want! Even if your $200k home is worth 5% less than you anticipated, it might be possible to save 5% (or more) on that $400k house you keep driving by—wishing was yours! Wouldn’t it make sense to take $10k less than you really wanted on your current home to be able to save $20k on your new one?

One more thing. That crystal ball has not been “shipped” and will not be arriving any time soon! Reality teaches us that life is full of uncertainties and we must be willing to take steps of faith from time to time.

If all signs are pointing toward you selling and moving on….a growing family, shorter commute time, life changes—take the hint and step out on that limb. Do your homework with your Realtor and make a quality decision. Don’t be afraid to take a little less now on your selling price. Focus on getting the very best value on your new home—and make it up on the buying end!

Best to you!

J

p.s. you can head right back to our KW site by clicking here: http://premiergrouphomes.com

As a Realtor, I’ve seen that terrified look wash over more than a few mom’s and dad’s faces. The look that says, “How am I going to keep my house clean, staged and ready for showings with these kids?”. If you find yourself in this situation, take a deep breath, relax, grab a cup of coffee (if you can even grab a second) and jot down a few tips!

First of all, we live in a “real world” when it comes to the real estate game. The ideal showing environment involves a wonderfully staged home that is spotless, smells great, has lots of light and is always inviting. That’s the “perfect” scenario.

Reality often paints a very different picture that includes mounds of laundry, toys, clutter and all of the things that come with a busy household.

Try a few of these ideas to keep your house ready for the next showing:

* Lots of baskets - Purchase inexpensive decorative baskets and place them strategically around your home in convenient, yet out of the way spots. When that last minute call comes to book a showing, enlist the help of your youngsters to pick up all clutter, toys, etc. and place the clutter in the containers. It may still be clutter, but it looks amazingly organized when thrown into one spot!

* Clean-Up Wipes - Keep a container of these handy in the kitchen, laundry room, and all bathrooms. You can just about wipe down every surface quickly without having to use multiple products. May not be the most environmentally friendly option because of the extra trash—but very fast!

* Vacuum quickly at least every two to three days. This will make your carpet look fresher and well-maintained. Spot treat with a fantastic product like Spotshot. Link here: http://spotshot.com

* For older kids and teens - Have a nightly organizing routine for their rooms and make it their responsibility. A short checklist on a whiteboard might be helpful to make sure nothing is missed before bedtime.

* Fresh Scent - The way your home smells is so important! Consider using plug-in freshners. These work whether you think about them or not—a great option for busy people. Febreze, (http://febreze.com) or some type of freshening spray, is also a great option for a quick spritz before you step out of the door!

Always remember to make your family part of the selling team. Also, keep them focused on the outcome. If it is a brand new house, a pool, or a larger room for the teen—whatever gets everyone excited about the move, keep them pointed in that direction.

Best of luck to you! To head back to our KW site, click http://premiergrouphomes.com

J

Though many sellers would rather not ask themselves the subject question…it is an extremely important one to consider.

Once you’ve worked up the courage to explore a reduction, these are great additional questions to ponder:

* How does my home compare to my direct competition?

Ask yourself, “Am I offering more home than my neighbors for the same price, or am I offering about the same home for a lower price?”.  In a highly competitive market, you absolutely want to be well positioned in one of the two groups above. Put simply, offer “more for the same” or “the same for less”.

* Am I getting enough showings on my home?

Here’s a great rule of thumb: 8-10 showings and no offers, the price should be reduced. Two weeks on the market and no showings indicates that the price is probably too high as well.

* What else can I do to move my home without lowering my price?

Pricing is generally the very best weapon to overcome any market condition. There are a few other things you can address such as your home’s overall appeal and condition. Take a fresh look with a “buyer’s eye” and you may realize there are things around the home that could be spruced up! The more your home looks and feels like a builder’s model home, the better!

One of my favorite tips for sellers is this: watch several episodes of HGTV’s Designed To Sell. This program is full of great staging tips—and I personally feel they recommend just the right touch 99% of the time. You can check out their programming schedule at the link below:

http://www.hgtv.com/hgtv/shows_hdts/

Above all, listen to the advice of your Realtor when it comes to price adjustments. Analyzing the market and understanding the latest trends is one of the most valuable services they offer.

Good luck to you—and best wishes for a quick sale!

J

p.s. as always, you can click here: http://premiergrouphomes.com and head right back to our KW site!

It seems like every time you turn on the news, open the paper, or search the internet, all you read and see are horrible stories about the state of the housing market. While these certainly are difficult times for some parts of the country, this is not the case for the DFW housing market and Ellis County overall.

Sure, the high flying pace set in 2005 for example may seem like a distant memory, but there are some great things happening in the market. In fact, April 2008 was our second best month in the history of Keller Williams Ellis County!

There are some wonderful buying opportunities out there…and unlike other parts of the country, the inventory of homes is not greatly out of line. That means that there is a place for you sellers in this real estate game too!

For some great information about real estate statistics in the DFW area click on this link:

http://dfwhousingfacts.org/

and you can always click below to head right back to our KW site:

http://premiergrouphomes.com/

Best,

J

Are you looking forward to Mother’s Day Weekend, but sort of dreading sitting around Mom’s living room with nothing to do? By the way, Mom is probably as bored as you—she just won’t let you know it!

Why not check out Waxahachie Trade Days on the 10th? This event is held every 2nd Monday weekend and features arts, crafts, and more. The Ellis County Expo and Fairgrounds off of 287 is an easy access location for you and your family.

For a little more information, just follow this link:

http://waxahachietxcoc.weblinkconnect.com/cwt/External/WCPages/WCEvents/EventDetail.aspx?EventID=833

Have a great Mother’s Day weekend!

Best,

J

Welcome!

As the Team Leader of Keller Williams Ellis County, I am excited to share the latest industry, market, and community news with you! Be sure to check in often and see the very latest happenings in the Ellis County area…and real estate market!

I am thrilled to share with you all that April, 2008 was our second best month since our company was formed in 2002! Our wonderful associates and staff are due a huge amount of credit for this success. It is my pleasure to distribute $12,700 back to them in Profit Share for the month!

Of course, none of that success would be possible without you, our wonderful customers! We appreciate your support and always welcome the opportunity to serve you when it comes to real estate matters!

Best,

James

Welcome to James Utsey’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Waxahachie.