Get the Most Bang For Your Remodeling Buck!!

Not all upgrades are created equal. Here are the five home improvements that yield the highest returns!

1. Wood Flooring- Probably the most popular upgrade in recent years, swapping your downstairs tile and carpet mixture for hardwood will increase your home's interior appeal tenfold. In today's uber -competitive seller's market, this can be the difference between a bidding war and being overlooked entirely.

2. Entry Door Replacement- Replacing your stock front door with a steel model not only ups your home's curb appeal, it can also cut energy costs and provides 102.1% average payback when it's time to sell.

3. Kitchen Upgrades- Whether it's granite counter tops or state-of-the-art appliances, very few things turn a buyer's head like a fabulous kitchen. But be sure to consult your local real estate expert before upgrading. Kitchen trends are ever-evolving and it's important to what's "In" and what's "SO last year."

4. Master Bath Remodel- A luxurious master bath is every homeowner's dream. Be careful not to go overboard here. Overly personal installations can hurt resale value. Shower and floor re-tiling, adding a double-vanity, or swapping that old tub for a modern counterpart are some ideas that will appeal to the masses.

5. Wood Deck- With the long summer in Texas, having an outdoor escape can transform your backyard from wasted space into a major selling point. Not only will your home stand out among the competition, sellers can expect an average 90% return rate at the time of sale.

The Decision

A hush came over the crowd of assembled policy makers and media representatives September 18th as Fed Chairman Ben Bernake took the stage to announce, as reported for months prior, the tapering of the purchase of Treasury Bonds. A program the department has used as a way of  nursing the economy back to health.

Only he didn't.

Instead, the rumored $5-$40 billion monthly reduction in bond buying has been pushed back at least until the committee reconvenes in December.What does this mean for the real estate market? In the shadow of the announcement of the Fed's plans to taper buying, mortgage interest rates rose to a two-year high and refinances dropped 70% from the previous year. But in the wake of the hold-off, rates have dipped sharply to a 9-week low as of September 30th.

Those looking to buy can expect a reprieve from their anxiety over rates as they should remain competitive for the time being. This however, is positive news for sellers alike, with buyers no longer fearing getting priced out of this year's historically hot market, home values should keep from slipping as a result of depleted buying power.

While uncertainty remains as to the whens and ifs of the still-expected taper, for now homeowners and buyers alike will enjoy the atmospheric attributes that made this summer such a historic one in real estate. With the combination of comparatively low interest rates and equally low inventory, the metaphorical perfect storm is likely to continue into the coming year. But for homeowners looking for value appreciation over the next half-decade, only time will tell.

Fabulous Open House this Sunday from 2-5!

Come check out 2340 Briar Court Frisco, TX 75034! You won't be sorry!

Home Sales Hit Record High!

The National Association of Realtors reported today that existing-home sales have reached their highest point in six and a half years! This surely do in large part to rising interest rates convincing on-the-fence buyers that now is the time to make their move.

Inventory at the end of August had increased 0.4  percent to 2.25 million homes, at the current rate of sales, this represents a 4.9 month supply. That's slightly down from five months in July and six months a year before that. Home are flying off the shelves and volume is predicted to stay high as interest rates threaten to jump. Down get left out in the cold, if you're on the fence about purchasing your new home, now is the time!

Rates Creeping Back Down

After hitting a two year high last week, mortgage rates have dropped, according to Freddie Macs weekly mortgage report.

Rates have been jumping around recently after beginning their rise in May as speculation mounts that the Fed may soon end its bond-purchasing program, part of what kept rates at or near record lows for the majority of the year.

"The Fed is monitoring the housing market closely after the run-up in mortgage rates over the past few months,” says Frank Nothaft, Freddie Mac’s chief economist. “The 13.4 percent drop in new-home sales in July led financial markets to speculate whether the Fed might delay reducing its bond purchases and allowed long-term bond yields and fixed mortgage rates to decline over the week."

Here are Freddie Mac's national averages for the week ending August 29th:



30-year fixed-rate mortgages: averaged 4.51 percent, with an average 0.7 point, dropping from last week’s 4.58 percent average. Last year at this time, 30-year rates averaged 3.59 percent.

15-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.7 point, dropping from last week’s 3.60 percent average. Last year at this time, 15-year rates averaged 2.86 percent.

5-year hybrid adjustable-rate mortgages: averaged 3.24 percent, with an average 0.5 point, rising from last week’s 3.21 percent average. Last year at this time, 5-year ARMs averaged 2.78 percent.

1-year ARMs: averaged 2.64 percent, with an average 0.4 point, dropping from last week’s 2.67 percent average. A year ago, 1-year ARMs averaged 2.63 percent.

Across the board, the North Texas Real Estate scene is still on fire!!!! Check it out for yourself below!

Inventory on the Rise!

Housing inventory rose significantly in April, easing a supply shortage that some experts say has constrained home sales.

Meanwhile, existing-home sales edged upwards in April. Still, sales remain hampered due to limited supply and tight credit, according to NAR.

Housing inventory rose 11.9 percent to 2.16 million homes in April, representing a 5.2-month supply of homes at the current rate of home sales. That’s up from 4.7 months in March. But inventory still remained 13.6 percent below a year ago, when there was a 6.6-month stock.

Existing-home sales ticked up 0.6 percent to a seasonally adjusted annual rate of 4.97 million in April from an upwardly revised 4.94 million in March, according to NAR. That put sales at their highest level since November 2009, when a tax credit stimulated purchases, NAR said.

“The robust housing market recovery is occurring in spite of tight access to credit and limited inventory. Without these frictions, existing-home sales easily would be well above the 5-million-unit pace,” said NAR Chief Economist Lawrence Yun. “Buyer traffic is 31 percent stronger than a year ago, but sales are running only about 10 percent higher.  It’s become quite clear that the only way to tame price growth to a manageable, healthy pace is higher levels of new-home construction.” Source: realtor.org.

- See more at: http://www.inman.com/wire/home-inventory-rises-sharply-in-april/#sthash.50uhjKPe.dpuf