The Housing Market Headlines

The Real Estate market is back. The headlines say it all ...

Click on the image to see a larger view. [where: 75230]

Signs, Signs, Everywhere a Sign

Way back during the pre-Internet days of real estate, the yard signs was all important. A yard sign still carries some importance, but when it comes to selling a house today, it scores way behind on-line photos, staging, and internet marketing. However, these days there are so many sign options, that I could decorate your yard with enough miniature billboards to rival the most cluttered highways.

Would one of these signs would entice you to buy a house? While some are informative, a few are clever and a couple are down right stupid. For example -

I'm Gorgeous Inside - in other words, I'm ugly on the outside?

Honey, Stop the Car ... so you can tie up traffic, get people to honk and think you're crazy. [where: 75230]

Dallas fence builder - marketing?

Would you be inclined to hire the company advertised on the back of this pick up truck? I don't know anything about it except that they drive down Forest Lane and their 'signage' looks sloppy. While they may be very good at building fences, the message of this advertising says crooked, cheap and unprofessional. Which is not what I look for in any company that I recommend to clients.
On the other hand, maybe they are really savvy marketers looking for a unique way to draw attention to their business. Ya think? [where: 75230]

Autumn has arrived in Preston Hollow

... cause the giant pumpkin is up at Preston Royal. [where: 75230]

When is it no longer a 'New Listing'?

One of my pet peeves is the 'new listing' sign or write up on a property that is no longer 'new'. Here is the perfect example -

This 'new listing' is a cute little house in my neighborhood that the agent has had listed for over 3 months. It has been on the market (with other agents) for more than 2 years now. The 'new listing' banner isn't fooling anyone and makes the neighbors wonder about the abilities of the Realtor.

Even worse that stale signs are descriptions in MLS that say "Hurry, this one won't last" or "Priced for a quick sale" on a property that has been on the market more than 150 days. I just read a property description today that starts off "Open Sunday October 3rd". It's March -get with the program.

I guess most sellers just don't look their house up online to see how it is being presented after a couple of months. But the sign in the yard ought to be a sign to the homeowners that something needs attention. Maybe it's just me. [where: 75230]

Preston Royal Sign Wavers - great job

The sign holders working for Borders at Preston and Royal must be the best advertisers in town. They've been smiling, waving and making passing motorist smile.

When you think about it, this would be a fun job in the fair weather we've had over the past week. You get to smile and wave at people and brighten their day just a bit. I'd have to pass on doing this in bad weather or the summer heat. And given that so many of us are sad to see the closing of Borders, these guys have given us a reason to smile.

Anyone advertising on those gas guzzling trucks that drive around town just to advertising purposes would be spending their money more wisely on these guys.

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Accurate Fortune Cookie

This is the best fortune I've ever gotten.

Sure hope it's true for more people than me.

This sign should really say ...

This sign should really say "Suckers Wanted". They claim to be offering a house for sale for $275,000 and that it is actually worth $439,000.

I've got news for them. A property is only worth what a buyer will pay for it. Unless there is some idiot investor out there willing to pay $439k for the property, then it isn't worth that. Just saying that your home is worth a million dollars doesn't make it worth a million dollars. And the county tax records are not an accurate appraisal of the true value of a property.

The reason they only want 'cash buyers' is because:

1. No one can get a loan on the property because it isn't worth what they are asking for it, and/or
2. This is a scam and any bank or mortgage company will recognize that.

These signs pop up occasionally all over North Dallas and will be followed by the hand scrawled "real estate apprentice wanted" signs ... which is another scam altogether.

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Home descriptions translated

Don't you just love those oh-so-creative property descriptions?

There are many common phrases in real estate to describe a property and exaggerate highlight the positives. The Dallas area MLS limits descriptions to about 400 characters. A listing agent's job is to get the house sold and sometimes it can be difficult to fully describe the property in just a few words.

So we often see the same code words that most Realtors understand and many buyers should recognize too. Here's a little education in translating those home descriptions: 

Backs to Open Space = Future WalMart location

Motivated Seller = Desperate

Unusual = Weird

Priced to sell = Seller isn't budging on price

Cozy dollhouse = Tiny, cramped

Back on the market = Priced too high the first time around

No maintenance yard = Gravel or concrete

Priced below tax appraisal = Should have protested our appraisal

As is, where is = If you want it, you fix it

Price Reduced = Listed to high to begin with

Character = Older or strange or both

Classic = Traditional
Located in .... area = Located NEAR but not IN the better area

Easy access to major roads = Backs to highway

Close to shopping = next to the parking lot

Original condition = Home is covered in 70s wallpaper

Needs TLC, needs updating, needs work =  Needs a LOT of work

Lots of Potential = It's falling down

Diamond in the rough = Nothing nice to say about the house

On great lot = Bull doze it

No front photo of the house = Ugly

and my personal favorite ...

A Honey for the Money = I can't think of anything to say

Signs of Winter in North Dallas

The only thing prettier than a sold sticker on my sign is ... this snowy scene.

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The Streets of Preston Hollow

After the panic died down over snow flurries yesterday, the streets of Preston Hollow were busy. A couple of interesting sights yesterday:

Santa got around alot. Saw him hanging at the corner of Preston & Royal

Then in a flash, he was at Hillcrest & Northwest Highway.

I couldn't make out what the sign that he was holding said. I was distracted by the car in front of me with some self esteem issues.

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Someday you can tell your grandchildren ....

... I survived the Great Recession. I've heard that term a couple of times now.

Since the economic experts are telling us that we're coming out if it, I guess its OK to give it a name. But "The Great Recession"?

At least it sounds better that "The Grand Decline" or "The Enormous Economic Downturn".

Now maybe now we can look forward to "The Grand Growth" of "The Huge Expansion".

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I've been busy knocking & answering

“Even when opportunity knocks,

you have to get up off your seat

and open the door”

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signs of a long, hot summer

Normally the advertising signs that pop up in our area are quickly torn down. Seems like these advertisements (from Get Motivated Boot Camp) lasted a little longer than most.

Could they be aimed at tired moms with teens at home that sleep past noon?

Good timing for this kind of advertising.

Just hang in there parents, only a couple more weeks before school starts.

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Funny sign

Ever felt like you may know this person?

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Realtors on the Road

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Toughest Real Estate Agents in the world

This is one reason why I'd never pass the licensing exam in Korea.

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Mother's Day shopping

How nice that our local merchants want to help us remember mom on her special day. This local liquor store sure put me in the shopping spirit.

Nothing says 'love ya mom' like a bottle of booze.

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What should you look for in a Realtor?

There are several things. But here is an important one -

Get a Realtor who places lots of SOLD signs on properties that they have listed.

You'll need to watch carefully because the 'for sale' sign usually stays up for months. The 'sold' sign is typically there only a day or so.

Often a homeowners will tell me the reason they listed their home for sale with a particular agent is because that agents sells a lot of homes in their neighborhood. When in reality, that agent lists a lot of homes. Listing a home for sale and actually selling it are very different things.

In my neighborhood, I'm the #1 Realtor this year in terms of actual sales. While I don't have the most homes listed for sale, I believe the more important statistic is actual sales. If you are thinking of selling your home, look for the agent who is placing the SOLD signs on properties.

It wasn't MY child

My son at UT promises me that he had nothing to do with the hacking of electronic traffic signs in Austin this week.

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The mom in me says 'Shame on you pranksters'.

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But you have to admit, its kind of funny.

A $500 reward is offered for the capture of the hackers. But somehow I don't think anyone is going to rat on the culprits.

I'm sure they were just trying to keep Austin weird.