Archive for September, 2009

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Preparing your Home for Sale: Weekend Projects to Get your Home in Tip Top Shape

Wednesday, September 30th, 2009

There are loads of things that need to be done when you’re selling your home. And sprucing it up should be on the top of the list.

But what should you tackle yourself and what should you leave to the professionals? A good rule of thumb is to call in the help of a professional when dealing with gas, electricity and plumbing. Otherwise, rolling up your sleeves and tackling a few of those neglected household projects can help draw attention to your home and get it sold.

Great Weekend Projects

1. Sand and stain the deck – A weathered, faded deck sticks out like a sore thumb. On the other hand, a freshly stained, clean deck can go a long way at sprucing up your outdoor living space.

2. Repaint the trim and shutters – Curb appeal is a huge selling point for any home. After all, making a great, first impression goes a long way toward a quick sale. A fresh coat of paint on your home’s trim, gutters and front door is a great way of sprucing up your home’s exterior.

3. Weed and landscape the front yard – Again, great curb appeal can not be stressed enough. Get your hands dirty and clear the flower and plant beds of weeds and mulch them to add the finishing touch.

4. Paint the interior – A fresh coat of warm, neutral paint on your home’s interior walls can instantly transform the rooms of your home. Choose a calm, warm color that will appeal to a variety of buyers.

5. Scrub down the kitchen appliances – Sparkling clean kitchen appliances can take a dull, dingy kitchen and give it an instant face lift. Scrubbing down your kitchen appliances – inside and out – is also essential if the appliances are staying with the home.

6. Steam clean the carpets – Stained carpets are a great way to lose potential buyers. Rent a steam cleaner and spend the weekend getting your carpets in tip-top shape.

7. Have a garage sale! – Is there any better way to spend your weekend than making money? A garage sale can help you rid your Irving home of unwanted junk that is cluttering up your home and distracting buyers from your home’s selling points. Plus, it can help you earn some cold, hard cash to cover your moving expenses!

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Now may be the Time to Snag a Great Deal on Dallas Office Space

Monday, September 28th, 2009

The word on the street is that Dallas is the place to be for cheap office space.

Although Dallas has always been known for its reasonable office lease prices, with a second wave of foreclosures in the office market imminent, it only makes sense that office space is now more affordable than ever.

There are only a few other cities in the nation with office rent lower office space rent than Dallas, including Pittsburgh, Detroit and Cleveland.

Office space lease prices for the Dallas office space market currently stand at about $21 per square foot, which is a whopping 40 percent less than other, major cities, such as Los Angeles and Washington.

Other, major cities in Texas have also experienced lower office space prices, but no where near what Dallas is offering. Houston office space, for example, is currently priced at around $25 per square foot.

The Vacancy Problem

It pays to mention, however, that the Dallas area also sports one of the highest vacancy rates in the country, trailing only West Palm Beach and northern New Jersey. In fact, vacancy rates in Dallas stand at around 25 percent, thereby making more than a few Dallas office space owners and developers more than a bit nervous.

It is likely because of the poor vacancy rates in Dallas that builders and developers have halted, slowed down or completely put the brakes on new office space construction. As of June, there was less than 2.5 million square feet of new construction in the Dallas area.

Office values for Dallas office space are expected to decrease by another 15 percent over the next, 12 months as a new wave of foreclosures is expected to hit the market.

In other words, if you are looking to lease office space, now may be your time.

Posted in Commercial Real Estate | No Comments »

Seller Tips: How to Prepare for Moving Day

Friday, September 25th, 2009

Congratulations! You’ve sold your property and you’re ready for your next endeavor! However, before you can begin moving on, you must prepare for moving day.

Yes, the dreaded moving day. But it doesn’t need to be! With just a few tips and plenty of preparation and organization, your moving day doesn’t have to be a nightmare!

  1. Reserve a moving company or moving van as soon as you have a moving date secured – even if it’s two months away! There are few things more frustrating than not being able to secure a moving company or rental van before your move!
  2. Arrange for a specialty moving company if you have a piano or priceless antiques.
  3. Start amassing boxes. Go to your favorite local stores and ask them to set aside packing boxes for you. You can always purchase boxes through many rental companies, but who wants to pay for boxes that you can get for free?
  4. Make change of address cards and send them to family and friends.
  5. Contact your utility companies, newspaper and magazine services, and the post office for shut-off dates and new address information.
  6. Plan ahead and pack up rarely used household items, or off-season items as you find the time.
  7. Develop a color-coded system using colorful stickers. Assign each room a color and use the stickers on your moving boxes so that you can easily identify which room of our Highland Park home the box belongs in.
  8. Make arrangements for your pets for moving day. Ideally, your pets should be out of the house during moving day, as they could become stressed or run away because of the open doors. Ask a close friend, family member or neighbor to care for your pets during this time, or make arrangements at a nearby kennel.

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Rapid Transit System Brings Economic Prosperity to Carrollton

Wednesday, September 23rd, 2009

Carrollton, a thriving Dallas community of 123,000 people, is set to experience a surge in growth, thanks to a new, mixed-use development and rapid transit system.

With a completion date of late 2010, this expansion of the Dallas Area Rapid Transit System’s $1.8 billion, 28-mile Green Line, is sure to set off new growth in Carrollton. Combine that with a $38 million mixed-used development in the heart of the downtown district, and it’s clear that this small city is poised for big growth.

Looking Ahead

Once a thriving farm community linked to the larger cities with three, railroad lines, Carrollton is now renewing their past by erecting rail lines, which will certainly allow businesses – and real estate values – to thrive.

The transit-oriented development manager for the Carrollton project put it best when he said that “rail is the catalyst for this new growth.”

He also went onto say that the rail system is “important for the long-term sustainability of Carrollton.”

The mixed-use development will feature 295 apartment homes, a parking garage, retail shops and even a public park.

Carrollton, with its new transit-oriented development, is sure to promote urban living and an increased desired to live in the city.

About Carrollton

The residential and corporate community of Carrollton is conveniently located in the dynamic Dallas-Fort Worth Metroplex, making it an ideal spot to live and conduct business. In fact, its diverse community, low cost of doing business and close proximity to Dallas make Carrollton the ideal place to reside for many Dallas professionals.

There are a plethora of businesses and economic sectors in Carrollton, such as manufacturing, construction, wholesale, finance, insurance and real estate.

A high quality of life, which includes low taxes, family-friendly, safe neighborhoods and an excellent school system, has certainly been Carrollton’s attraction , but it is the progressive growth and new rail line development that will propel it forward for its continued success and sustainability.

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Allen: A Prime Location Plus so Much more

Tuesday, September 22nd, 2009

If small town atmosphere and divine real estate are on your must-have list, then you definitely need to get to know Allen a bit better.

Allen is a family friendly community, located just north of Dallas, which features both upscale estates and older, more modest residences.

Combine that with great shopping and dining, and loads of recreational activities, and it’s easy to see why Allen is such a highly desired community for Dallas professionals.

Just some of the sites and sounds of Allen include: the Don Rodenbaugh Natatorium, which features a swimming pool, interactive water play, a lazy river and loads of recreational activities; Celebration Park, which features a children’s playground and a water playground; the Edge, which features extreme sports activities, such as a skate park, a BMX track and two hockey rinks; Chase Oaks Golf Club; and Allen’s Historical Dam, a state architectural landmark.

Community events are common and varied, and include the Summer Sounds Concert Series, the Allen USA Celebration, the October Harvest Festival and the Holiday Tree Lighting and Rudolph Run.

Allen by the Numbers (2008)

  • Median family income – $109,789
  • Job growth from 2000-2007 – 69.49%
  • Median home price – $226,399
  • Colleges, universities and professional school within 30 miles – 19
  • Average property taxes – $5,370
  • Personal crime incidents (per 1,000) – 1
  • Property crime incidents (per 1,000) – 25
  • Median commute time (in minutes) – 27.6
  • Median resident age – 32.4

A quick search of Allen current real estate for sale yields 6 homes over $1 million; three homes between $900,000 and $1million; and seven properties between $700,000 and $800,000.

On the other end, current real estate for sale in Allen under $100,000 totals 12 properties, while homes priced between $100,000 and $200,000 total 15.

Posted in Collin County | No Comments »

How to Maintain your Credit Scores in Today

Monday, September 21st, 2009

Times have certainly changed over the past couple years. For the better, or for the worst? That’s up for debate.

However, one thing’s clear: there are no free rides given in today’s economy, and if you want something you must work for it – period.

And that goes for obtaining a home loan for your next property. Home loans are decidedly more difficult to come by, as lenders have increased their standards and tightened their belts.

It is therefore of the utmost importance that, if you want to make any type of large purchase (i.e. car or home), you must do everything in your power to maintain a strong credit score. A flawless credit score in today’s lending industry is gold, and anything less than that is just not good enough.

Luckily, there are many ways that you can either (a) protect your credit score, or (b) work toward a great credit score:

  • Pay all of your bills on time – and I mean all of them! We all know the importance of paying our car loans, our home loans and our credit card bills, but do you also know that paying your student loan payments late, or skipping your utility bill payments, can cost you big in terms of your credit score?
  • Pay down as much debt as possible. Decreasing your debt-to-income ratio, particularly before making a large purchase, can increase your overall credit score. Your debt-to-income ratio is an important aspect of your credit score, as it often indicates your ability to repay a loan. For example, a high debt ratio (usually anything over 40 percent is considered too high in the industry) can alert a creditor that you may have difficulty repaying your loan because of too much debt.
  • Check up on your credit report. Ordering a copy of your credit report, at least once or twice a year, and checking it thoroughly for mistakes, can help you maintain a strong credit score. In addition, you will also want to order a copy of your credit score, from all three credit reporting agencies, before making any large purchases to ensure that your credit rating is accurate and up to date.

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Seller Tips: Internet is the Key!

Thursday, September 17th, 2009

With today’s tough housing market, selling your home can be quite challenging.

You certainly know how special your home is; you just wish everyone else did, too! Now, thanks to the Internet, it is now quite practical to show your home to the world!

Showcasing your home to potential buyers has never been easier, thanks to advances in technology; particularly the Internet!

The Internet is your opportunity, as a seller, to detail your home through thorough descriptions and beautiful photographs. It may provide you with the opportunity to lure in a potential buyer that may not have otherwise considered your Highland Park property.

Securing a qualified, seasoned real estate agent is often key to making sure you have a strong marketing strategy in your back pocket. And, considering the value of the Internet in today’s real estate market, it is vital that your real estate agent recognizes the important of marketing your home on the Internet.

Many real estate companies boast outstanding websites that are user-friendly and easy to navigate, which thereby makes the process of searching for a home on the Internet all that much easier.

When you consider that most buyers use the Internet as their first point of contact when purchasing a home, it quickly becomes clear that your Highland Park’s listing on the Internet is vital to the sale of your home.

The following is a list of points to check when it comes time to list your Highland Park home on the Internet:

  • Make sure your home’s listing is accurate and that the language and wording are detailed and easy to read.
  • Make sure the photographs highlight key features of your Highland Park home.
  • Make sure your Highland Park home is properly staged and decorated before the Internet pictures are taken.

Remember: don’t underestimate the power of the Internet when selling your Highland Park property! Talk to your real estate agent to better understand his/her online marketing strategy today!

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Posted in Seller Tips | 1 Comment »

The State of the Dallas Commercial Real Estate Market

Wednesday, September 16th, 2009

Property sales in the Dallas-Fort Worth commercial arena are dismal, at best.

Sales of Dallas commercial real estate -which includes office buildings, shopping centers, apartment buildings and warehouses – saw an 80 percent decline in the second quarter of this year, compared to the same quarter last year.

Of all commercial real estate, sales volumes of office buildings were down by a whopping 99 percent from last year at this same time. Sales of retail properties came in at a close second, falling 80 percent from this time last year. Apartment building sales were down by about 15 percent.

In addition to poor sales volume numbers, the prices of commercial property in the Dallas-Fort Worth area fell sharply, as well. Office building prices, per square foot, fell by 34 percent since last year, while industrial properties fell about 42 percent.

Perhaps the only bright spot in the Dallas commercial real estate industry fiasco is the retail sector, which saw an impressive increase in sales of 55 percent from last year.

Where is the Commercial Real Estate Market Headed?

A new survey by LoopNet Inc. reveals that only about 10 percent of real estate experts expect the market will recover by the end of 2009, while more than 50 percent feel that is will take until the second half of 2010 to turn around.

In fact, most real estate experts also expect more declines throughout 2009, and expect values to continue to fall another 10 to 20 percent.

Investors purchasing commercial properties are therefore realizing the importance of long-term gain. If the industry bottoms out this year, then purchasing now may be a smart investment decision, provided you hang on to the property until the market rebounds.

Most investors consider apartment buildings to be the smartest investment decision around.

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The Luxurious Lifestyle of Victory Park

Monday, September 14th, 2009

As far as master-planned communities go, Victory Park sets the bar dramatically high.

Located in the heart of Dallas, and strategically located near Uptown, Downtown, Turtle Creek and the Arts District, Victory Park has been ingeniously designed for maximum exposure to all key districts of Dallas. It also enjoys a close proximity to the American Airlines Center, the Dallas Convention Center, the Dallas Market Center and the picturesque Katy Trail.

There are loads of reasons to fall in love with Victory Park, including its decadent variety of high-end restaurants and shops, but perhaps the biggest reason for the success of Victory Park lies with its outstanding residences:

  • The W Dallas Victory Hotel and Residences – Originally completed in 2006, the W Dallas Victory Hotel and Residences was the first of its kind in Dallas. In addition to being one of Dallas’ premier landmarks, the 33-story W Dallas Victory Hotel and Residences boasts superb hotel accommodations and equally superb condominium residences. Just some of the outstanding services and amenities afforded to the residents of the W include a state-of-the-art fitness center, a zero-edge infinity pool and unbelievable views of the Dallas skyline.
  • The House – The House is a 28-story high-rise that exemplifies the high-end living found in Victory Park. A collaborative effort between world-renowned architects and designers, the House boasts such fine amenities as soaring ceilings, expansive terraces, gourmet kitchens and intelligently designed interiors.
  • The Terrace -This seven-story mid-rise features beautifully equipped and designed condominium residences, as well as impressive green spaces, rooftop decks and expansive verandas.
  • Vista Apartments -Ultra-modern styling and design are featured in the seven-story Vista Apartments, which feature leased apartments with an upscale, condominium feel.
  • Cirque – High-end rental apartments are found at Cirque, a 28-story high-rise which boasts outstanding aesthetics and richly appointed amenities.

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All About Uptown Festival: A Celebration of the Uptown Lifestyle

Friday, September 11th, 2009

All about Uptown Festival: A Celebration of Art & Living, which is presented by Uptown Dallas, Inc., is a free, three-day festival that celebrates all that Uptown Dallas has to offer.

Located at 2425 McKinney Avenue, in the heart of the historic Uptown district, the All about Uptown Festival begins on Saturday, September 26, from 11:00AM to 10:00PM.

The ideal behind the second annual All about Uptown Festival is quite simple: it is the opportunity for both residents and visitors alike to experience the amazing community atmosphere of Uptown and to surround explore the outstanding establishments found here.

It is an all-encompassing event that allows Dallas residents and visitors to appreciate the allure of this outstanding, Dallas community. From mouth-watering foods from some of the most renowned Uptown chefs, to some of Dallas’ best performing arts groups and cultural organizations – as well as some truly fun entertainment and music, – the All about Uptown Festival is a celebration of all that is uptown.

Just some of the fun to be had at the All about Uptown Festival includes:

  • Signature foods from more than 20 restaurants
  • Live theater, comedic performances and live bands
  • Chef Showcase, where some of Uptown’s finest chefs will provide cooking demonstrations
  • Wine pairings and tastings
  • Historic home tours
  • Educational trolley rides
  • Cemetery tours
  • Uptown Art Walk, an all-day tour through Uptown’s best local galleries

Children will also find plenty to do at the All about Uptown Festival, as there are arts and crafts, clowns and activities for children of all ages. And for the shoppers, the All about Uptown Festival will feature a great variety of artisan booths.

From Uptown’s fantastic, historic homes and beautiful neighborhoods, to live bands and cultural performances, there is something for everyone to experience at the All about Uptown Festival.

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