Real Estate Market RoundupNovember 2016

Continued on page 3

Travis Pugh, President/BrokerREALTOR®, ABR®, SRS

Branding Iron Realty114 N. Washington, Suite B

Kaufman, TX 75142

972-971-4929TPugh@BrandingIronRealty.com

www.BrandingIronRealty.com

Now Is a Great Time to Sell!We all realize that the best time to sell anything is when demand is high and the

supply of that item is limited. The last two major reports issued by the National Asso-ciation of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.

The Pending Home Sales Report announced that pending home sales (homes under contract) are up 2.4% over last year, and have increased year-over-year now for 22 of the last 25 consecutive months.

Lawrence Yun, NAR’s Chief Economist, had this to say: “The one major predic-ament in the housing market is without a doubt the painfully low levels of housing inventory in much of the country. It’s leading to home prices outpacing wages, prop-erties selling a lot quicker than a year ago and the home search for many prospective buyers being highly competitive and drawn out because of a shortage of listings at affordable prices.”

Demand for housing will continue throughout the end of 2016 and into 2017. The seasonal slowdown often felt in the winter months did not occur last winter and shows no signs of returning this year.

The most important data point in the Existing Home Sales Report revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 1.5% to 2.04 million homes available for sale (inventory increased by 10% in Kaufman).

• That represents a 4.5-month supply at the current sales pace (2.5-month supply in Kaufman).

• Unsold inventory is 6.8% lower than a year ago, marking the 16th consecutive month with year-over-year declines (unsold inventory in Kaufman has decreased by 20%).

There were two more interesting comments made by Yun in the report: “Invento-ry has been extremely tight all year and is unlikely to improve now that the seasonal decline in listings is about to kick in. Unfortunately, there won’t be much relief from new home construction, which continues to be grossly inadequate in relation to de-

Branding Iron Realty114 N Washington, Suite B, Kaufman, TX 75142

Average Days On Market (DOM)Average Days on Market (DOM) is the amount of

time it takes for a listing to receive an acceptable of-fer and go under contract. Which basically means how long it took to sell a home.

In a balanced market it typically takes approximate-ly 6 months on the market for a home to sell. Currently Kaufman is in a seller’s market where it takes less than 1-2 months to sell a home. In fact, 53% of the proper-ties that were listed in the City of Kaufman in October, are already under contract!!!

The chart below that shows the change in DOM since May 2016.

Quick QuizEach month I give you a new question. Just email

me at TPugh@BrandingIronRealty.com or call 972-971-4929 for the answer.

Who said “Necessity is the mother of invention?”

Ask the Agent: What Should I Ask My Agent during a Listing Meeting?

When interviewing agents, ask questions that will help you learn more, not just about the agent, but about your home and your local real estate market. For example:

What is the local housing market like and what would you do to market my home? You’ll gain infor-mation about houses that have sold recently, days-on-market statistics, and the agent’s personal take on how your home compares to your neighbors’ homes.

How will the updates I’ve made (or the decor) affect my sales price? This will elicit more informa-tion that will help you and the agent arrive at a fair price for your home.

What, if anything, will detract from my home’s marketability? The agent will be honest with you about any negatives affecting your home’s value and suggest ways you can increase its worth.

For more questions check out our blog post: http://www.brandingironrealty.com/blog/questions-you-should-ask-agents/

Branding Iron Realtywww.BrandingIronRealty.com • 972-971-4929

Thanksgiving Trivia to Get You Through the Holidays

This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale.

FOR SALE - $500,000Rustic 4 bedroom, 2 bath ranch home with guest

house on 21.5 acres in Terrell. Property is fenced and cross fenced with large barn that has 5 stalls. Call 972-971-4929 to see it today!

Your Thanksgivings may read like a Dickens novel: “It was the best of times, it was the worst of times.” Sadly, to enjoy your much-anticipated turkey dinner, you actually have to chat to rela-tives you see only once a year. If you can’t think of anything to say to these relative strangers, or if you’re already dreading playing 20 Ques-tions about your personal life, you could take the age-old approach of making polite small talk.

Or you can start a new tradition. This year, instead of fielding ques-

tions such as, “Who are you dating this year?” or “How much mon-ey are you making?” why not play Thanksgiving trivia?

For example: Did you know that, as noted in a National Geo-graphic article by Brian Handwerk, turkey doesn’t actually make you sleepy? The real culprits, accord-ing to scientists, are all those extras (gravy, anyone) in the calorie-laden Thanksgiving meal. Handwerk also adds that pumpkin pie wasn’t even part of the tradition till 1654.

Then there’s this shocker: The

first Thanksgiving may not even have taken place in Plymouth, MA, in 1621. There are numerous records of earlier colonial Thanksgivings, including an English one that took place in 1619, and others by groups of Spanish colonists that took place in 1541, 1565, and again in 1598.

For better or worse, you should also know that some of these early Thanksgivings actually lasted for three days. You might not be tired of turkey after three days, but you’re almost sure to be tired of relatives by then.

Wondering How Much Your Home Is Worth?

How has the price of your home changed in today’s market? How much are other homes in your neighbor-hood selling for?

If you’re wondering what’s happening to prices in your area, or you’re thinking about selling your house, I’ll can help. Just give me a call for a no-fuss, profes-sional evaluation.

I won’t try to push you into listing with me or waste your time.

I’ll just give you the honest facts about your home and its potential sales price.

Just give me a call at 972-971-4929 to arrange an appointment.

A great time to sell - Cont. from pg 1mand.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Be-tween 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreci-

ation in home values. As Yun notes, we are, and will remain, in a seller’s market with prices still increasing un-less more listings come to the market.

“There’s hope the leap in sales to first-time buyers can stick through the rest of the year and into next spring. The market fundamentals — primar-ily consistent job gains and afford-able mortgage rates — are there for the steady rise in first-timers needed

to finally reverse the decline in the homeownership rate.”

Inventory of homes for sale is still well below the 6-month supply needed for a normal market. Prices will continue to rise if a ‘sizable’ sup-ply does not enter the market.

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out looking for your house.

Turkey Cutlets with Mustard/Tarragon Sauce• 1 two-pound boneless, skinless turkey breast• Salt and pepper• 2 tablespoons vegetable oil• 2 teaspoons butter• 2 cups dry white wine or chicken broth• 1/4 cup Dijon mustard• 1/8 cup chopped fresh tarragonDirections

Cut the chicken vertically across the grain into about 8 cutlets. Place each one between plastic wrap and flatten with a rolling pin until each is about 1/4 inch thick. Season cutlets with salt and pepper.

Heat a tablespoon of oil and a teaspoon of butter in a skillet. Add cutlets and cook for about 1-2 minutes per side until golden brown, adding more oil and butter when flipping. Remove from heat. Set aside and cover loosely with foil.

Add stock or wine to the skillet. Bring to a boil and, scraping the bottom of pan, reduce liq-uid by half. Remove from heat. Whisk in mus-tard and tarragon. Season. Serve over cutlets.

New Home, Old Home—What’s Best for You?Prospective home buyers look-

ing at areas where new neighbor-hoods are being developed have a decision to make that’s affected by price, availability, features, and style: Do I buy a new build or a re-sale property? Here are some think-ing points when you’re considering which to buy:

New build - Purchasing a pre-construction house or condomini-um unit gives buyers a chance to personalize it to their needs and their style. The buyer can se-lect layout, finishes, and fixtures. New homes also include the latest technology, which means lots of “smart” and “green” features.

The downsides? A new subdivi-sion will likely still be a construc-tion zone when owners move in,

and there won’t be any mature trees or green space. Personality may be lacking, both outside and indoors; a resale home often has unique fea-tures that add warmth and style, whereas a new build may feel aus-tere. And then there’s the waiting game. Particularly with new con-dos, buyers may have to wait for some time before the building is finally ready for occupation.

Resale home - A previously lived in home has two advantages that new builds find it hard to com-pete with: location and charm. The neighborhood is likely more devel-oped; there will be mature greenery, a sense of community and culture, and an absence of the dirt, dust, and noise that accompany a new-build site. A resale home may also have

unique features that make it feel special for the right buyer, such as an amazing backyard, a fireplace, crown moldings, or built-ins.

However, a resale home may also be dated and require costly repairs and renovations to make it suitable for a new owner. Because it wasn’t built with the latest mate-rials and practices, it also may be less efficient.

New or old—both have their advantages. But make it all about you and your family, and your de-cision will be the right one.

Buying a home is a complex process with many factors to con-sider. For a FREE copy of my home buyer’s guide, call me at 972-971-4929 and I’ll send it right out to you.

Branding Iron Realtywww.BrandingIronRealty.com