“Get a clear understanding of the housing market in Coppell and surrounding communities. Is it a good time to buy or sell? Let’s talk about it.”
Here’s the link to get your no obligation home value report!
https://bit.ly/McKeeHomeValueEstimate
As we gear up for the spring season in the housing market, many people are concerned about the state of the economy and how it affects property values. With so much confusing data and misleading headlines circulating in the news, it can be challenging to get a clear understanding of what’s happening. Is now a good time to sell or buy? Or either? Let’s talk about it…
Hey there,McKee Smith, Senior Real Estate Specialist and Realtor with Competitive Edge Realty here.
On a national level, U.S. house prices have held steady near their peak levels reached during the summer of 2022. Over the past four months, only minor changes in the overall market have occurred. But is that what we are experiencing in the North Central DFW area? Let’s take a big-picture look at the data…
For North Central DFW area, closed sales are 3% from last February. This is likely due to the market rebalancing itself. During the last half of 2021 and the first half of 2022, buyers were willing to pay incredible amounts for the few homes available. That all shifted starting in June of last year. As a result, total sales are up!
New listings are also up 5% from last February for the same reason. This is good news for both buyers and sellers. More buyers are getting into homes and sellers are having an easier time finding places to live after selling.
Because of the rebalancing, average home prices are down 17% from February 2022. Before anyone panics that the market is collapsing, please note prices are still up 9% from 2021! The market during the last half of 2021 and the first half of 2022 was unsustainable.
Likewise, average days on the market jumped from 30 day in February 2022 to 49 days this February. That’s a big jump! But, looking back the average days on market for February 2019 was 53, for 2018 was 48, for 2017 was 42 and for 2016 was 42. The market has rebalance toward the historical norms. Again, the last half of 2021 and the first half of 2022 were not normal!
One thing to remember is that local price trends can vary greatly depending on your price range and neighborhood area. Let’s look at the data instead of the drama to determine what your home is worth in today’s market. Click HERE for a complimentary home value report, also known as a competitive market analysis.
And if you’re a buyer, it may be time to get back in the game, as there are more homes to choose from and, likely, even more to come with the Spring market
Maximize Your Profits When Selling A Home
Here are four tipes that are sure to help increase profit when selling a home!
Watch this video by McKee Smith –
Have you ever wondered how some people get top dollar for their home when selling
and others not so much? Hey there, McKee Smith, Senior Real Estate Specialist and REALTOR with Competitive Edge Realty here.
In today’s video, I will share some insider tips and tricks to help you maximize your profits and make the selling process as smooth and stress-free as possible. Whether you’re a seasoned pro or a first-time seller, these tips are guaranteed to help you get the best possible outcome.
First and foremost, it’s important to choose the right real estate agent. I’m a bit biased as a top agent, but seriously, having an experienced, knowledgeable agent on your side can make or break the sale of your home. I could stop at just that tip, but I won’t.
Next up, you want to ensure your home is in tip-top shape before putting it on the market. This means fixing repairs, giving it a deep clean, and sometimes freshening the paint. You want to make a great first impression on potential buyers! My staging consultant is an expert at preparing a list so you know exactly what projects are worth tackling before listing.
Pricing is also key. Overpricing your home can be detrimental to getting exposure to buyers, but you also don’t want to sell yourself short. The right agent will be able to help you determine the right price or what I call that “Sweet Spot’ based on recent sales in your area, current market conditions, and your neighborhood’s demand.
Finally, be prepared to negotiate. Even with a beautifully staged and well-priced home, there may still be some back-and-forth when finalizing the sale. An experienced agent with negotiation expertise will be able to guide you through the process. I will make sure you get the best deal possible while still keeping the deal together.
There you have it! If you follow these tips, you’ll be well on your way to getting the best price AND experience when selling your home. If you are thinking of selling, click the link or give me a shout so we can get together a game plan for maximizing your profits. And if you know anyone buying or selling a home, I’m here to help and would love to be a resource for them.
Remember, McKee has the keys to selling your home! Bye!
Spring is the perfect time to sell your Coppell or Lewisville house
Spring is the ideal time to put your Coppell or Lewisville home on the market with the best chance of getting a great price for it!
Spring is the perfect time to sell a home in the Coppell and Lewisville, Texas area. The warmer weather and longer days make it the ideal season to showcase your home’s outdoor features, such as a backyard or patio. Plus, the spring market is typically more active than other seasons, meaning there are more potential buyers looking to purchase a home.
One of the main reasons why spring is a great time to sell in Coppell and Lewisville is that it is a family-oriented community. Lewisville ISD ends classes on May 24, 2023, while Coppell ISD ends classes on May 26, 2023. Selling in the spring allows families to let their children finish classes at the present school and then start at the new schools in the fall. This means that there are many potential buyers looking for a home in the spring, which can increase competition and drive up the price of your home.
Another reason why spring is a good time to sell is that the weather is mild, especially compared to July or August! The mild weather allows buyers to comfortably view homes, and the natural beauty of the area is in full bloom. The vibrant colors of the flowers and the lush green trees make a great backdrop for your home, making it more appealing to potential buyers.
Finally, there are fewer homes on the market during spring than in the summer. More homes on the market mean more competition for buyers. With fewer homes on the market in the spring, your home will stand out more and have more visibility to potential buyers.
All in all, spring is the perfect time to sell your home in Coppell and Lewisville, Texas. With more potential buyers, better weather, and less competition, it’s the ideal time to put your home on the market and get the best price for it. If you’re thinking about selling your home, consider listing it in the spring for maximum visibility and the best chance of getting top dollar for your property.
Design Trends for 2023
What is in and what is out for 2023. Here’s what I’ve been reading about and seeing for the coming year
What are some of the new design trends for 2023? It’s always fun to predict what the New Year will bring.
Hey everyone, I’m McKee Smith. I am a Senior Real Estate Specialist® and REALTOR® with Competitive Edge Realty. I am coming to you Facebook Live today to talk about some of the trends that I have been reading about that are likely to become more popular in 2023. A lot of these have been going for a little while, but these are the ones that I think are going to be really popular.
NUMBER 1 – Floor plans will be less open!
In 2023, something that we are almost certain to see will be less open floor plans. Doesn’t mean that open floor plans are gone, but let’s face it, we learned a lot during Covid. One of the things we learned is that when they built a house with one office space and then the entire rest of the ground floor is one big room, that doesn’t work if you’re having more than one Zoom meeting going at the same time.
During the lockdown, I knew of parents who were on individual Zoom meetings. Their three kids were also taking classes at the same time by Zoom. That was five zooms happening at the same time with people talking and they were trying to find places for everybody. And that’s just hard in a completely open concept house.
There were other issues with Open Concept houses. People in one room watching a movie while the rest of the house is hearing the movie because the large doorways just don’t control sound. If someone is watching in an open area upstairs, Open Concept houses often are open all the way into the downstairs area! Parents don’t really want to listen to the TV their kids are watching upstairs!
That doesn’t mean we’re going to close everything off and go to tiny little matchbox group mocks rooms again, but we are going to see a trend toward less total floor opening.
Number 2 – Funky kitchens will replace minimalistic white.
Okay, any comments yet? I don’t see any. So let’s move on to our second content, second trend. And that is funky Kitchen designs are going to be replacing the minimalist white minimalist light has been around for a long time and it has a certain appeal. It’s so clean and so such stark lines and it’s a very appealing, however, if you have a totally open kitchen that is totally white with nothing out visible, how do you cook? And if you’ve got, if you’re preparing dinner, yes, in a totally open kitchen, you can watch the kids in the other room. But if people surprise you and come by, if you’re cooking, you’re totally empty kitchen, your minimalist white kitchen, you’re going to have stuff out.
You’re going to have pots and pans, you’re going to have things. It is very difficult to actually cook in a totally minimalist kitchen. So I have been looking at things and all the designs I am seeing now from the big designers are funky kitchens. That’s the word that I would use to describe it. And it’s actually the word that Architectural Digest used. I’m not going to put up the picture that was in Arch in the Architectural Digest article, but I am going to add a comment here and put in there in the comments is a link to a great article in Architectural Digest. You can get a free account by just signing up. And the picture in that free account gives you an idea of what some of the new designing kitchens are with. You still have white walls, but you have a blue trim. You have color, color, color everywhere.
Because again, after the lockdowns, people wanted more color, more variety in their environment. And these kitchens are practical. You can actually cook in them.
Number 3 – Accent walls are back!
Well, let’s move on to our third design trend for 2023. Accent walls are back. Yes, accent walls actually are making a return. Right before Covid, people were moving away from accent walls. They didn’t want, they just wanted the room to be the same. It was sort of that stark clean look, which is very nice and very clean. But if you’re in the room for any extended period of time, you don’t want stark and clean people that discovered that they like having some variety. Something to look at besides just a plain stark wall. And the accent walls that I’ve have seen in various magazines, including Architectural Digest, they aren’t just a different color. They are wallpaper with incredible intricate designs on it.
They are not just one accent color, but three complimentary accent colors. There’s a lot more going on with the accent wall and it is definitely making a big return for 2023.
Number 4 – Bold color tiles, especially in bathrooms.
Okay, let’s move on to our fourth design trend. Bold colored tiles in the bathroom specifically, but bold colored tiles everywhere. You’re gonna have to put up tile in a bathroom. And let’s face it, you are probably going to put tile up in a bathroom. Bright, bold colors are the trend. Now the stark white can be there, but the pure white subway tiles are now mixed in, at least Again, one wall is going to have some very bright colors. One of the more interesting designs I saw had, uh, toraso marble vanity with bright firetruck, red firetruck, red backsplash on it. And that was one by one of the top designers in the country. So bold colored tiles coming back.
Number 5 – Free standing bathtubs.
And now let’s move on to our next one, which is free standing bathtubs. Yes, I’ve heard that 2022 was considered the year of the shower. People were having very, very intricate showers and they’re still going to be building big showers. Literally, my wife and I in the last year did a remodel and put in a very nice, very large shower. But this year, free standing tubs are the featured points that people are going to. And these aren’t just your basic clawfoot tub. These are soaker tubs. These have many, many different designs. This is not just your great-grandfather’s bathtub. These have lots of style and many, again in our trend have color something to keep an eye out. Keep glancing over to see if there are any extra comments. Don’t see any yet. But hey, if you’re watching the recorded version of this, again, please make a comment and everybody will be able to see it on the recorded version.
Alright, let’s move on to our next trend. Yes, here we go. The color of the year is called Red Point. You notice the background here on all of my slides. It is red Endpoint. That is Sherwin Williams 9 0 81, the Sherwin Williams Color of the Year. It is darker than some of the colors of the year have been in the past in a lot of things on the Sherwin Williams page. And let me give you the link to that because I don’t want people to not be able to see the link. Here we go. This is the link to the Sherwin Williams Color of the Year page. So you can see the various, if you click around on that page, you will see lots of design ideas for this darker than a lot of people would’ve thought color. But you don’t have to stick with this if this is the made color.
They have developed an entire palette, very earth town, but very mixed that goes along and fits with all of these. So let’s just see real quick if we have any extra comments. Yes. What are your favorite and least favorite design trends? I know one of my personal least favorites is there has been at least consideration of a returning toward brass fixtures as somebody who has spent years of my life at multiple places replacing the brass with something that was usually a more silverish color. I always dread when brass comes back in. Although the brass now that they are talking about bringing back is a more of an unlaced that’s sort of a raw brass. So if you have any comments, please drop them in the comment box and I hope to see more comments. Well, that pretty much wraps up where we were for today.
I’m going to hang around just a little bit to see if we have any more comments, live comments from people, but I’m not seeing any yet. So I hope you will watch this. I hope you will follow the links and look at some of the pictures. I work for years for a company that created copy written materials. So I hate to violate anyone else’s copyright and broadcast their material. But there are the links so you can go and see it for yourself. I will be doing more of these Facebook Live, not certain that it will always be at 10 o’clock on a Tuesday. I’m now thinking 10 o’clock on a Thursday is a better time, but we shall see. In the meantime, there is a link at the top. If you have any questions about real estate or just want to chat with me, there is a link for a no obligation consultation and I will be happy to talk to you about any of your real estate needs. So in the meantime, I hope everyone has a terrific Tuesday. Bye for now.
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!
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!
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!
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.
Decade | Home Prices Average Annual Increase | Consumer Prices Average Annual Increase |
70’s | 9.9% | 7.2% |
80’s | 5.5% | 5.6% |
90’s | 4.1% | 3.0% |
00’s | 2.3% | 2.6% |
10’s | 4.9% | 1.8% |
20 + 21 | 12% | 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!
5 Factors That Affect The Sale Of Any Home
Selecting the “right” person to market your home is very important and worth careful consideration.
Owners directly control four of the five factors that affect the sale of any home: price, location, condition, terms, and the agent you select. The one thing you can’t control is the location of the home, but you can adjust the other factors to compensate for failings.
The seller controls the price of the home which determines its positioning in the marketplace. If it is priced too high, it will take longer to sell and, in some cases, for less than what it should have sold for because when it doesn’t sell immediately, it is assumed that there must be an issue with it. If it is priced too low, the owner will not realize as much of their equity as they should.
Not pricing the home in the proper search brackets could keep the property from being exposed to potential and likely, buyers. For example, if a home is priced at $399,000 to follow an age-old retail marketing principle, many of the most likely buyers will never know about it because they are searching for properties in the $400,000 to $450,000 range.
The seller also controls the condition of a property which affects not only the marketability of a home but indirectly, the price. Homes in the best condition appeal to more buyers because for the most part, they are using their available cash for the down payment and closing costs and may not be able to afford to make cosmetic or more expensive improvements to the property.
Clutter can keep buyers from seeing your home, and more importantly, it will keep them from seeing themselves in your home. There are three basic causes of clutter: there is too much stuff in the home; there is not enough space in the home, and there is no organization.
Selling a home is about positioning it to sell which sometimes means temporarily or permanently getting rid of things that make the home look small or distract the buyers from seeing its potential for them.
Terms are the financial preferences established by the seller. In a competitive market with multiple bids, a seller may not have to offer any terms such as financing, appraisal, or inspection contingencies. This will restrict the number of buyers who are financially able to pay cash and are willing to do so.
In lower price range homes, there could be a wealth of qualified buyers that need to use low down payment options, closing cost assistance from the seller, or other things. When the seller consents to offer a variety of terms, the market of potential buyers increases. The seller can still select the most qualified if they are not limiting protected classes.
The fourth marketing factor that the seller controls is the agent they select to represent them in the sale of the home. Selecting the “right” person to market your home is very important and worth careful consideration.
Your agent will be the manager of the entire marketing process. They’ll position your home to be competitive with the other homes in your price range and area while attracting the broadest range of buyers possible. Your agent will offer advice on what needs to be done before the property is offered for sale. Your agent can also offer recommendations for a variety of service providers if work needs to be done.
There are a lot of professionals involved in the sale of a home like lenders, title officers, appraisers, inspectors, insurance agents, surveyors, and the buyer’s agent, just to name a few. Your listing agent will coordinate the communications between the other professionals and negotiate directly with them. Your agent’s role as third-party negotiator is critical and you need to feel confident in their ability to serve your best interests.
- Price
- Too high; not realistic
- Doesn’t acknowledge the Internet search range
- Location
- A poor location can negatively affect the price
- Since location cannot change, must adjust the price for a poor location
- Condition
- Clutter
- Drive-up appeal
- Deferred maintenance
- Odors
- Carpets
- Lack of updates
- Terms (applicable to certain price ranges)
- Buyer concessions like closing costs
- Incentives like home warranty, appliances, floor covering, etc.
- Buy-down interest rates
- The Agent you select
- Experience
- Knowledge of neighborhood
- Promotional expertise
For more information, download my Sellers Guide.
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!
Now Is Still A Great Time To Buy A Home
The media is exaggerating “doom and gloom” in the market! Here’s a interview with Charles Mentesana on why it is still a good time to buy!
Here are a few highlights:
- Since you no longer need to offer $50k to $100k over the asking price, you might end up with a lower payment even with higher interest rates.
- Sellers are making far more concessions than they were just two months ago.
- Home ownership is a proven way to build wealth.
McKee Smith, REALTOR®, is an experienced real estate agent that specializes in the Dallas and Fort Worth market. He 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!