Don’t Buy in Denton County Without Asking These Questions

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In Denton, there’s three important questions to ask when you go house hunting. It’s not always about finding the perfect house at the right price.

1. The ratings of the area schools: Some people don’t think to ask because they don’t have kids, but it’s important to know where you sit in ratings of area schools for the purpose of resale value. Ratings range anywhere from poor to exemplary, and you can find them all on our website.
2. Utilities and fees: You can’t just look at the average utilities. Is the property in a co-op or is managed by the city? Those will make a difference in your rates, as well as whether or not it is unregulated. Can you choose your electricity provider? We can help you with all of that information. You need to find out if your property is located in an area that collects a special resale tax when you sell. Some areas tack on an additional fee when you turn around and sell.

3. What the area is like over the course of the day: Find out what the area is like during at least three different times of day. You’re probably seeing a house during the day, but look out at night for things like how many cars are parked and how many people are home or not home. You should also look into what it’s like on the weekend versus midweek.

Have further questions about these topics or anything about real estate in general? Give us a call or send an email and we’d be happy to speak with you.

Our Top Tips for Winning a Bidding War

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Today we’re going to talk about how we set our clients up for success when making an offer during a bidding war. If you’re thinking of selling this spring, you’ll likely face situations similar to this. It’s important to know how to deal with them.

There are several secrets and tricks of the trade we have to win offers for our clients that find themselves in multiple offer situations. One of the most important of these is a pre-approval letter. The seller doesn’t know you from the next buyer, but this establishes your credibility with them. Get pre-approved by a local lender, who is recognizable by the seller’s agent, so they can recommend this as a good move and a solid pre-approval.

We also like to see buyers put down a substantial amount for an option fee. This is the fee that shows the seller you are a serious buyer and aren’t just putting out offers on any and every property.

Another tip is to write a personalized letter to the seller. You want to put some feeling into it and make the sale real to them. It shows that you are a real buyer with a real family looking to buy a home.

As for the amount you offer, you want to be realistic about price. If it’s priced right, offer what they are asking, or maybe a little more depending on what the situation is. However, we would never let our clients overpay for a property.

Finally, we like to make sure we are utilizing the seller’s agent’s preferred closing office. This is something a lot of agents will pass over, but is just another way to highlight your offer and help it stand out amongst others.

These are just a few of the tips and tricks we have for getting our clients’ offers accepted in a multiple offer situation. If you have any questions for us, give us a call or send us an email. We would love to hear from you!

Foreclosures, Short Sale, and Traditional Home Sales in Denton County

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Which is the better deal: a foreclosure, a short sale, or a traditional home sale?

A foreclosure goes into default and the banks reclaims the home. Many times, the banks can be a little behind in what the market values are, so foreclosed properties are priced too high for the current market. Additionally, most foreclosed properties are in disrepair. That’s why foreclosures aren’t always the best deal.  

One of the great secrets in real estate is the short sale, which is perfect if you’re not in a hurry. Contrary to its name, a short sale is anything but short! These are properties where the homeowner has defaulted, but the bank has agreed to sell the home short of what’s still owed on it. You can get a tremendous deal on a short sale, especially if the homeowner has taken care of the property. You just have to be a little patient.

If you need a home in a timely manner and you don’t want to handle a lot of repairs, a traditional home sale is your best option. If you hire us, we can negotiate the best deal for you.

If you have any questions, give us a call or send us an email. We would be happy to help you!

New Construction Properties in Denton County

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We’ve experienced some changes in construction properties over the past few years. Since the late 90s, the average home size has gotten larger by approximately 24%. In 1999, homes were about 2,100 square feet. Comparatively, homes today are about 2,600 square feet.

Additionally, as this progresses, lot sizes have been shrinking. They’ve shrunk by 10% since the 90s. That means homes being built now have smaller yards. These are some of the things we track here at the Ferguson Realty Group.

If you’re thinking of buying or selling a home in Denton County, we’d be happy to meet with you and discuss the options available. For instance, we help determine if a new or previously owned home is best for your situation. Feel free to give us a call or email today!