Game Changing Truth for Home Buyers!

Looking to buy a home but not sure if you need a buyer’s agent? This video is a game changer! Discover the top five benefits of using a REALTOR®

https://youtu.be/7DpZd1WTE18

What’s the one thing most buyers don’t know that is an absolute game changer? Hey there, McKee Smith, Senior Real Estate Specialist and Realtor with Competitive Edge Realty here.

Have you ever heard the saying “there’s no such thing as a free lunch”? Well, when it comes to buying a home with your own representation, that couldn’t be further from the truth! Did you know that in most cases, the seller pays the commission for the Buyer’s Agent, not the buyer? That means you get all the benefits of working with an expert without paying a dime. So why exactly do you need a buyers agent?

Using me to professionally represent you when purchasing a home has five specific benefits.

1 . Experience and Expertise: I will help you navigate the home-buying process. I know the ins and outs of the real estate market and will guide you every step of the way.

2. Objective Advice: I have your best interests in mind. I am not tied to the seller or the listing agent and can provide objective advice and guidance to help you. Armed with information, you can make the best decisions for you and your family.

3. Access to More Properties: I have up to date access to a wider range of properties. The properties I give you will actually be available, unlike some other popular sites on the internet that don’t always keep their data current. We even have software that alerts us the second a new property hits the market matching your desired criteria so you never miss a deal.

4. Negotiation Expertise: Based on my years of market knowledge, I will handle all negotiations on your behalf while keeping your budget in mind. Now that is a real benefit!

5. Save You Time: I do the legwork for you, saving you time and reducing your stress. I arrange the showings, handle all communication with the listing agent, refer competent inspectors, arrange insurance quotes, and the list goes on and on and on. I do it all for you!

As you can see, there are many benefits to working with me when purchasing a home. So why not take advantage of this free service and make your home-buying experience as stress-free and enjoyable as possible? Click the link to get started or give me a shout. And if you know someone who is thinking about buying a home, be sure to share this video with them! They’ll thank you for it.

That’s it for now. Remember, McKee has the keys to your next home! Bye!

Why Coppell and Lewisville Should be at the Top of Your Home Buying List

Coppell and Lewisville are two fantastic cities that have so much to offer to those looking for a new place to call home.

Are you thinking about buying a new home? If so, have you considered the Coppell, Texas, or Lewisville, Texas, area? These two cities have so much to offer for those looking for a new place to call home. In this blog post, we’ll take a closer look at why these two cities are the perfect place for you to buy a home this spring.

First of all, let’s talk about the location. Coppell and Lewisville are both located in the Dallas-Fort Worth Metroplex, which means they are conveniently located near all the big city amenities while still maintaining a small-town feel. This is the best of both worlds – you can enjoy the peace and quiet of a small town while still having easy access to all the shopping, dining, and entertainment options you could want.

Another great reason to buy in Coppell or Lewisville is the strong housing market. Both cities have seen steady growth in home values in recent years, and experts predict that this trend will continue. This means that buying a home in these areas is a smart investment for the future.

One of the best things about living in Coppell or Lewisville is the amazing school district. Both cities are home to top-rated schools that are known for their excellent academic programs and dedicated teachers. If you have kids, this is a big plus as a good education is one of the most important things you can provide for them.

Another reason to consider buying a home in Coppell or Lewisville is the strong sense of community. These cities have a close-knit, welcoming atmosphere that makes it easy to meet new people and get involved in local activities. Whether you’re interested in sports, arts and culture, or community service, there’s something for everyone in these two cities.

Finally, let’s talk about the weather. Coppell and Lewisville enjoy a mild climate with warm summers and cool winters. This makes it a great place to live all year round, as you can enjoy outdoor activities and recreation no matter what the season.

So why buy a home in Coppell or Lewisville this spring? Spring is a great time to buy because there are typically a lot of homes on the market, which means you have a better chance of finding your dream home. Additionally, spring is a time of renewal, which makes it a great time to start fresh in a new home.

In conclusion, Coppell and Lewisville are two fantastic cities that have so much to offer to those looking for a new place to call home. From the strong housing market and top-rated schools, to the welcoming community and mild climate, these two cities have it all. If you’re ready to make the move, now is the time to do it.

If you’re interested in buying a home in Coppell or Lewisville, please don’t hesitate to contact McKee Smith, REALTOR®. With years of experience in the area, McKee is the perfect person to help you find your dream home. 

So why wait? Click this contact form link today and start your journey toward your new home in Coppell or Lewisville! 

Steps to buying a home in the Dallas Fort Worth area

Buying a house in Dallas Fort Worth can be a daunting task, but by following these steps, you can make the process as stress free as possible.

Purchasing a home is one of the biggest decisions you will make in your life. It’s a long-term investment, and the process can be overwhelming, especially for first-time homebuyers. If you’re looking to buy a house in the Dallas – Fort Worth area, the following steps will help you navigate the process and make it as smooth and stress-free as possible.

Step 1: Determine Your Budget and Get Pre-Approved for a Mortgage

Before you start looking at houses, it’s important to determine your budget and get pre-approved for a mortgage. Knowing your budget will help you narrow down your search and avoid wasting time looking at properties that are out of your price range. Getting pre-approved for a mortgage will also give you a better idea of how much house you can afford and will make you a more attractive buyer to sellers.

Step 2: Research Neighborhoods and Find a Real Estate Agent

Researching neighborhoods is an important step when buying a house. You’ll want to find an area that meets your needs in terms of location, amenities, and school district. Since the Dallas Fort Worth area extends from Azle to Cleburne to Waxahachie to Seagoville to Royse City to McKinney to Denton, you have a huge area to consider!

A licensed REALTOR® like McKee Smith can help you find properties that fit your budget and needs. He knows the neighborhoods and can help you find the place that best fits your specific needs.

Step 3: Browse Listings and Attend Open Houses with your REALTOR®

Once you have a general idea of what you’re looking for, it’s time to start browsing listings and attending open houses. This will give you a sense of the housing market and help you get a feel for different properties. Take note of what you like and dislike about each property so you can narrow down your search later. It’s a great idea to go to open houses with your REALTOR® so he can point out details and see exactly what your preferences are!

Step 4: Make an Offer on a Property

When you find a property that you’re interested in, make an offer. McKee Smith will help you negotiate the price and terms of the sale.

Step 5: Hire a Home Inspector

Once your offer is accepted, it’s important to hire a home inspector to ensure the property is in good condition. A home inspector will check for any issues with the property, such as structural problems, electrical issues, and plumbing problems. This step is crucial to make sure you’re aware of any potential issues before you close on the sale.

Step 6: Close on the Sale and Move into Your New Home

The final step is to close on the sale and move into your new home. This can be a complicated process, but mcKee Smith, REALTOR®, will help guide you through it. Once the closing is complete, the house is officially yours and you can start the process of making it your own.

Buying a house in Dallas Fort Worth can be a daunting task, but by following these steps, you can make the process as smooth and stress-free as possible. It’s important to consult with a REALTOR® like McKee Smith, a mortgage lender, and/or attorney for specific information and help. Remember to take your time and don’t rush into any decisions. With the right research, preparation, and guidance, you’ll be able to find the perfect home for you and your family.

What Are Your Real Estate Goals for 2023?

Lots of people set new goals for the New Year. What are YOUR real estate goals for 2023?

Follow this link to get a no obligation consultation https://bit.ly/McKeeRealEstateGoals2023

We’ve officially welcomed another New Year, and it’s time to check in on what that means for you!

Hey there, McKee Smith, realtor and senior real estate specialist with competitive edge realty here.  

For many, the new year is a chance to get back on track and set our sights on creating better lives for ourselves. 

It’s when we start thinking about the goals we want to tackle – from health-related habits to picking up a new hobby. 

One often overlooked resolution is focusing on real estate ambitions. So I’m here today to ask… What are YOUR real estate goals for 2023? 

Are you ready to build that dream home you’ve always wanted? 

Would you like to downsize to something smaller or settle into that “forever home”? 

Or are you ready to put your hard-earned money to work by investing in a rental property? 

Whatever your goals are, now is the time to create a plan of action. I’m here to help you do it! 

All you need to do is click this link and answer three quick questions, so I know best how to serve you this new year. I look forward to hearing about your real estate plans for the year! I’m excited to help you achieve them! Let’s chat and make it a year to remember! 

McKee Smith, REALTOR®, has been selling and buying homes in Dallas and Fort Worth for many years. He knows and understands the intricacies of the DFW housing market. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home! 

Low Money Down Mortgage Options

It is possible to buy a home with less than 20% down. Here are four options!

Are you ready to buy a home but want to avoid a 20% down payment? Here are four options that may work for you!

Everyone’s situation is unique. Only a loan professional can tell you the terms and details for which you will qualify.

Please click here to schedule a talk!

McKee Smith, REALTOR®, has been selling and buying homes in Dallas and Fort Worth for many years. He knows and understands the intricacies of the DFW housing market. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to your next home!

Don’t Be Scared

There are a LOT of reports in the media of a “housing crisis.” It fills the headlines, but when you read the actual articles there are economists saying any crisis is very unlikely! This isn’t 2008. Now is a perfect time to sell your present home and buy one that fits your current lifestyle better.

Here is a link to find out what your home might bring on the open market. It’s no obligation, just a way to start your thought process!

Home Owners Need Resources

I want to be your “go to” person for anything related to real estate! If you’ve got a question, I have or can find the answer!

Managing an asset worth hundreds of thousands of dollars is a responsibility that requires attention to details such as timely payment of the mortgage, home repairs and maintenance, upkeep, and oversight of financial issues including taxes, insurance, and other things.

Depending on how long you’ve been a homeowner, you may have faced some of the decisions common to homeownership.  Occasionally, there could be something new that you haven’t had to deal with in the past.  This is where having a resource you can rely on becomes valuable.

During the buying or selling process, it is natural to turn to your agent for information and advice but during those periods in between where do you go for counsel?  Sure, you can turn to the Internet but that may not be the best place to get advice for your situation.

We encourage you to think of us as your “source of real estate information”; someone you’re comfortable with asking a question and confident that you’ll get good advice.  We not only want to be there for you when you buy or sell, but all the years in between.

By helping you with the day-to-day decisions of homeownership, we believe we can develop relationships that will lead to future sales when you move again, as well as recommendations to your friends who need the services of a trusted real estate professional.

Whether you simply need the recommendation of a service provider, a trustworthy mortgage professional, an estimate of your current market value, or advice on what kind of improvements are best to consider, we’re happy to share that information with you.

Just a few of the kinds of questions we get almost every week:

  • Can you recommend a good (plumber, painter, handyman, etc.)
  • What is the current value of my home?
  • How do I challenge a property tax assessment?
  • When should a homeowner refinance?
  • How often should we update our personal home inventory?

I want to be your “go to” person for everything to do with real estate.  If you have a real estate question, please call me at (972) 333-8638.  If I don’t have the answer, I’ll find it for you or point you in the right direction.

McKee Smith, REALTOR®, has been selling and buying homes in Dallas and Fort Worth for many years. He knows and understands the intricacies of the DFW housing market. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!

High Country by First Texas Homes – first video

High Country is the newest development by First Texas Homes. It is in Burleson, an easy commute to Fort Worth. This development has all the things we have come to expect from First Texas Homes, plus a few new things!

This is the first of at least three videos I’ll be posting about High Country.

As with ANY new home development, please let me come with you on your first visit! Please contact me for more information on High Country by First Texas Homes!

McKee Smith, REALTOR®, has years of experience in the DFW area housing market. He knows the many unique features of Dallas and Fort Worth area home sales. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!

Securing Your Retirement

Retirees want a safe and secure investment whose income will not be eroded by inflation. Single-family homes meet those requirements.

Social Security was established, on August 14, 1935, to take care of the country’s elderly in their retirement years.  Today, about 65 million or 1/6 of Americans collect benefits and the average monthly retirement amount received in January 2022 was $1,614 per month or about $19,370 per year.

This annual Social Security benefits exceed the 2022 Federal poverty level of $13,590 for individuals and $18, 310 for a family of two but from a practical level, it is nowhere near enough to be comfortable in your “Golden Years.”

Every adult in the workforce, can go to SSA.gov to find out what to expect to receive based on their planned retirement age.  Since it probably won’t be the amount you need to retire comfortably, at least you’ll know how short you’ll be so that you can devise an investment plan.

There’s a quick formula to estimate the investable assets needed by retirement to generate a certain income.  The target annual income is divided by a safe, conservative yield to determine the investable assets needed.

A person wanting $100,000 annual income generated from a 5% investment would need investable assets of $2,000,000.  If a person had $500,000 now, they would need to accumulate $1.5 million more by the time they retire.  A 50-year-old wanting to retire at 65 would need to save about $100,000 a year for 15 years.

If trying to save an extra $100,000 a year seems impossible, consider the leveraged growth available in rental real estate.  The use of borrowed funds can contribute to the yield earned by the investment.  By reinvesting the positive cash flows from the rental to retire the mortgage, the home could be paid for by retirement, providing more cash flow when it is needed the most.

One of the bright spots in investments is rental real estate which is also open to self-directed retirement savings.  Single-family homes offer high loan-to-value mortgages at fixed interest for long terms on appreciating assets with tax advantages and reasonable control.  Price appreciation alone has outpaced inflation for the last fifty years.

Many Americans have participated in Individual Retirement Accounts, SEPs, 401(k)s or other types of retirement that would supplement the Social Security benefits.  Many of these are invested in mutual funds which have lost about 20% in value in 2022.  With inflation at a 40-year high, many retirees and future retirees are concerned about their income from these investments.

Retirees want a safe and secure investment whose income will not be eroded by inflation.  Single-family homes, in predominantly owner-occupied neighborhoods, meet those requirements.  Home prices have experienced double-digit appreciation in the past two years and around 5% for the last five decades.

DecadeHome Prices Average Annual IncreaseConsumer Prices Average Annual Increase
70’s9.9%7.2%
80’s5.5%5.6%
90’s4.1%3.0%
00’s2.3%2.6%
10’s4.9%1.8%
20 + 2112%3%
  Source: NAR & Bureau of Labor Statistics

Increased mortgage rates coupled with rising home prices have sidelined many would-be purchasers who want to be in a home.  Since they cannot buy at this time, the next best alternative is to rent a home.  This has added to the increased demand for single-family homes in good neighborhoods which has resulted in increased rents.  While this isn’t good news for tenants, it is for investors.

Investing in rental real estate could be a way for you to increase your retirement income and grow your net worth while avoiding the volatility of the stock market.  Current homeowners already are aware of the value of homes as well as the maintenance they require.

To get more information about single-family homes for rentals, download our Rental Income Properties guide. You can also schedule a time with me to get answers to any questions you may have and find out about what is available now.

McKee Smith, REALTOR®, has been helping people like you sell and buy homes in the DFW area for many years. He is very knowledgeable about the housing market in Dallas and Fort Worth. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!

Are Home Prices and Rates Going To Continue To Rise

Make an appointment with your real estate professional to get the facts on what your home is worth, the mortgages available, and the logistics to put it together for your best advantage.

One of the most talked about questions in the real estate market has to do with “Will prices continue to rise now that interest rates have increased dramatically this year?”

It is understandable to think that if the Federal Reserve is using interest rate increases to slow consumer demand, that it would also slow homebuyer demand to moderate prices.  Unfortunately for would-be homebuyers, it isn’t the case.  High inflation, strong economic growth, low unemployment, and increased wage growth have been associated with high home price appreciation.

In a recent newsletter from First American, Chief Economist, Mark Fleming stated that historically, 90% of total inventory is from existing homes and homeowners are not moving as often as in the past.  Prior to 2007, the average tenure was five years.  After the housing crisis, between 2008 and 2016, the length of time spent in a home went to eight years.

Lawrence Yun, Chief Economist with the National Association of REALTORS® when talking about the May 2022 statistics: “Nonetheless, homes priced appropriately are selling quickly and inventory levels still need to rise substantially … almost doubling … to cool home price appreciation and provide more options for home buyers.”  Median sales price rose to a new high of $403,800, up 10.8% from July 2021, while sales are down 20% year over year and inventory increased slightly to 3.3 months from 2.6 months in July of 2021.

In the beginning of 2022, Fannie Mae, Freddie Mac and NAR predicted home price appreciation would be 7.6%, 6.2%, and 5.1% for the year.  Their revised forecast has been increased to 16%, 12.8%, and 11.5%.  Buyer demand still exceeds inventory levels which is driving prices higher.

While the Fed does not set mortgage rates, it does determine the Fed Funds Rate which is charged by banks to each other for overnight funds.  The increases often affect the U.S. Treasury rates to increase and there is generally a reaction when the 10-year U.S. Treasury Note yields increase for the 30-year mortgage rates to increase also.

The National Association of REALTORS®, on their website, states “The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”  The Index uses the 30-year fixed rate mortgage as provided by Freddie Mac’s Primary Mortgage Market Survey (PMMS).

Mortgage rates have gone up over 2% in the first half of 2022.  That dramatically affects the affordability of the home even if the price didn’t increase, which it did.  A $360,000 mortgage at 3.05% in December 2021 would have a principal and interest payment of $1,528 for 30-years.  At 5.22% as of August 11, 2022, the P&I payment is $1,981 or a difference of $453 dollars or a 30% increase.

As of May 2022, homeowners are now staying in their homes 10.6 years.  Part of the reasons can be contributed to the pandemic, but a large degree is attributed to the lack of inventory.  Existing homeowners can sell their home for premium prices and in unusually short time frames, but the problem is finding a home to replace it.

The demand for housing still exceeds the supply and price are continuing to rise, although, maybe not as the same pace as 2021.  Many economists predicted that price appreciation would slow but CoreLogic reported “Home prices nationwide, including distressed sales, increased year-over-year by 20.9% in April 2022 compared with April 2021.  In the same report, CoreLogic predicted “…home prices are forecast to increase on a year-over-year basis by 5.6% from April 2022 to April 2023.”

Another frequent question homeowners have is whether to wait to see if prices moderate and interest rates decline.  The probability is more likely for prices to continue to increase along with mortgage rates.  The consequences of waiting, in hopes of lower prices and rates, could totally price a person out of the market for the home they want.

Using a $400,000 home that could be purchased today at 5.22% on a 90%, 30-year mortgage, the P&I payments would be $1,981.  If the price appreciated only 5% in the next year and the mortgage rates were to go up by 1%, the payment would increase by $339 a month.  If a person stayed in the home for 7 years, the increased cost would be $28,458 and if they stayed for full term, it would cost them $121,965 more by waiting.

Increases in rates and prices have forced some people out of the market, at least temporarily.  For the fortunate ones, who can still afford to buy, even with the increases, acting now could save them tens of thousands and maybe hundreds of thousands depending on the price of the home.

Make an appointment with your real estate professional to get the facts on what you home is worth, the mortgages available, and the logistics to put it together for your best advantage.

McKee Smith, REALTOR®, has years of experience in the DFW area housing market. He knows the many unique features of Dallas and Fort Worth area home sales. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!