6131 Ravendale! $265,000


From front to back, this house will not disappoint! The inviting porch has plenty of room to kick back and enjoy friends and family. You enter to a grand family room, with a statement-making fireplace, vaulted ceilings, hardwood floors and plantation shutters. A tasteful bar overlooks the stunningly updated kitchen. Light filled and gourmet inspired, you will love it! From the kitchen, step onto one of two expansive decks and enjoy your beautiful back yard. Updated baths and hardwoods throughout complete the interior. Note that the carport has a fully functional garage door and opener and is enclosed by fences on either side. The windows have been replaced, the work is complete. Enjoy one of the best locations in Dallas, convenient to White Rock Lake, I75, NorthPark and Central Market.


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NTREIS MLS Area Current Month Summary for: December 2010

NTREIS MLS Area Current Month Summary for: December 2010.

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Dallas MLS Areas

For Realtors, the Dallas Multiple Listing System is divided into areas. This is supposed to make it easier for us to do searches and serves as a way to organize the information. While buyers will usually conduct searches by zip code or Mapsco grid, Realtors will more often focus on the MLS area, and narrow from there.  For the next few posts we’ll take a look at some of the areas I hang out in most often.

Let’s start with Area 11. You can refer to the map above to get the geographic boundaries. I live in area 11, but that is not why it’s first. It’s just such a simple area to define. The boundaries are straight and clear. A good starting point!

There are currently 393 active residential, single family listings in area 11.

The prices range from $130,000 to $12,500,000. How’s that for diversity?

Here’s the breakdown…..

$100,000 – $300,000               19 homes for sale

$300,000 – $450,000               83 homes for sale

$450,000 – $650,000               93 homes for sale

$650,000 – $1,000,000            63 homes for sale

$1,000,000 – $2,000,000        86 homes for sale

$2,000,000 – $4,000,00         24 homes for sale

$4,000,000 +                           25 homes for sale

In the past two months there have been 99 sales in the same area. That is really pretty astonishing.  In a good way!

Here’s what it looks like……

$100,000 – $300,000               13 homes sold

$300,000 – $450,000               25 homes sold

$450,000 – $650,000               21 homes sold

$650,000 – $1,000,000            14 homes sold

$1,000,000 – $2,000,000         20 homes sold

$2,000,000 – $4,000,000           3 homes sold

$4,000,000 +                               3 homes sold

Let me know if you would like further information!

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FHA Might Be Your Best Option

I think in some circles, FHA loans have a tainted reputation and one that is not deserved in today’s market. A FHA loan allows a buyer to purchase with as little as a 3.5% down payment. Additionally, this money can be a gift, something not allowed in Conventional loans. It is also the only loan in today’s market that will allow for a non-occupying co-borrower. You can have slightly lower credit scores than those required by Conventional loans, with the minimum being 640. FHA loans are also assumable. With FHA, the seller may pay part of the traditional closing costs associated with purchasing a home. This allows buyers with limited funds to qualify and expands the pool of potential buyers in the market. What will be surprising to some, is that FHA loans are not just for first time buyers. In fact, they may be used for refinancing your current home. There is one drawback. FHA limits the loan size to $271,050. Some people think FHA makes the process difficult. Not so! I just had a young couple purchase a home with a FHA loan. The lender called and asked if we wanted to move the 30 day close up a week. The papers were in and approved. We did just that and everyone was extremely happy.  Please talk to your lender about FHA financing if you think it might be a fit for your situation!

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Hockaday Girls Help Dallas Residents

Slant 45 Service Project Takes on New Meaning.

 

Maybe it’s the Thanksgiving season, or maybe the fact that my dad passed away last month. He lived in a nursing home for the last two years of his life with debilitating dementia. Whatever the reason, I felt compelled to share this story. These girls are responding to a need and lifting the spirits of senior citizens. I am thankful that they are helping, thankful for their kind hearts, and glad this story came my way.

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Creativity and Tag Technology

I love this clip on creativity and innovation. How things get done. Brainstorming is a good thing. Good ideas take time.

Also, I’m really proud of Ebby Halliday! Check this out….and read through to download the tag reader app! tag-technology-print-finally-finds-a-husband-on-the-internet

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Ebby’s Little White House Will Sparkle

Holiday Sparkle

Keep your eyes peeled on the corner of Northwest Highway and Preston Road. Right after Thanksgiving, Ebby’s Little White House will be aglow with Christmas lights! And in case you would like to decorate your own little cottage, you can call Certified Christmas Lights, Scott Young, at 972-852-2847. If your house is on the market, all the more reason to make it shine!

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Interesting snippets from those in the know…

According to D.W. Skelton, Dallas appraiser, we haven’t hit bottom on property values. Currently properties are appraising at or near their 2004 values. He believes we have another 12 to 24 months of a downward slide. Despite this forecast, Mark Dotzour, chief economist at the Real Estate Center, Texas A&M believes today  is a once in a lifetime opportunity to buy real estate. He feels area home prices will remain stable, inventories are at 6 month levels, and mortgage rates are at historic lows. Mr. Dotzour also said that Texas created 40% of all jobs created in the US in the past year.

Everyone always likes to hear the appraisers weigh in on specific values in certain areas. D.W. recently indicated that land values in Park Cities are down. At the peak, a 70 foot lot on Caruth, in the 3600-3800 block, would sell, day in and day out, at $1.5 M. Those lots are now selling for $1M. Dirt values in Preston Hollow peaked at $45.00 a foot and are now running about $34.00 a foot.

Some D.W. trivia…..the city taxes the property owner with a lot 150 x 125 more than the property owner with a lot 100 x 190. They tax on lot frontage, not square footage. I did not know that. Oh, and at least one high-end builder is looking for lots. Their plan is to build smaller homes. About time!

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