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Showing posts from January, 2023

BEFORE signing the lease, LOOK for these 5 Rental Home Red Flags

So exciting!  Saying goodbye to apartment living, and HELLO to space, privacy and the neighborhood lifestyle!  But in all the excitement of shopping for this new life, you might miss a few things that could be a constant annoyance for your entire lease term.     Here's a quick list of FIVE things to look out for... 1.  Will you be working with a Landlord or (faceless) Property Management Company? Unless you happen to get the PERFECT house to rent, things will go wrong or need to be repaired.  And when you need help, who are you going to call?  And how quickly are they going to fix things?   THIS is the difference between a landlord and a property management company (PMC).  Landlords are real people and PMC's are not.  It's awesome to have a relationship with the person that is going to "make everything better" when bad things happen.  Real people generally will take responsibility and unfortunately, most PMC's do not feel that same sense of care over you. They

The Lewisville real estate market is SPLIT in half, one side doing well and the other, NOT so well.

Everything has changed in real estate over the past 3 full months.  So how have the rising interest rates affected Lewisville, Texas? The  GREEN LINE  is the number of sales in each price range.  Most sales are happening at the 350k to 500k range.  That makes sense, as the majority of buyers are searching for homes in that price range.   But let's go one step further...  How long did it take for those sellers to find buyers? The  BLUE LINE  is the Days On Market, or DOM.  It's great to see that all these homes were sold, but that doesn't tell how long it took for these sales to happen.   In a healthy market, the DOM needs to be in the 15-30 day range.   The homes in the  350k to 500k range  had to wait around 23 days to find buyers. Let's break down what's happening in each price range. $250-300k The 16 or so sales took 14 days to sell (on average).  This is more about the price of these properties combined with their condition.  The average age of these homes was 1