Articles Tagged "Buying a condo"

Finding the perfect home is a challenging endeavor under normal circumstances, but searching for a home in a different city or state might seem impossible. Coordinating the purchase of a lifetime from several hundred miles away can seem like a daunting task.

While long-distance house hunting can pose challenges, our real estate agents want you to know that it's not as difficult as it seems. In today's world, with easily accessible online listings and the ability to conduct virtual tours, it's actually never been easier. Here are some tips on how to make your long-distance home search a success:

• Visit Your New Neighborhood
  When starting a long-distance home search, it always helps to visit the new town to get a sense of the neighborhood, community, and amenities. A basic familiarity with the area allows you to choose the right location, envision your new life, and plan ahead. Take a trip or two to your new hometown and drive around, visit local businesses, and explore the area. When clients travel into town to look at Dallas homes for sale, we always encourage them to spend a day or two exploring our great city.
  
  
• Choose A Reputable Local Agent
  When long-distance house hunting, working with an agent you can trust is more important than ever. Your agent can provide valuable local information, find listings that meet your criteria and negotiate the terms of your home sale. They can also help coordinate virtual listing tours. Choosing an agent that knows the area and has a strong reputation can really help make long-distance house hunting a success.
  
  
• Include Travel Expenses In Your Budget
  Chances are you're going to want to make a trip to your new hometown at some point, whether it's during the house-hunting process or after your new home is under contract. Travel expenses can quickly eat into your funds, so make sure to factor travel expenses such as airfare, rental cars, gas, and hotel into your home-shopping budget.
  
  
• Determine What You're Looking For
  Because your ability to tour homes in person may be limited, your buying decision will be naturally influenced by logic rather than emotion. Therefore, start by clearly defining your price range, and then create a list of the top 5 things you can't live without. Whether it's a specific location, a home office, or two full baths -- determine your non-negotiables and use them to narrow down your choices.
  
  
• Don't Waive Your Inspection Contingencies
  Making an offer on a home sight unseen can be nerve-wracking, to say the least. If you aren't able to see the home in person, you can at least rely on your inspection contingencies to uncover any red flags. Be sure to consider the standard home inspection, pest inspection, radon, and sewer. These inspections give you the ability to back out of the deal without any penalty if problems arise and you can't come to terms on how to resolve them. Make sure to talk to your agent about what to expect with inspections.

Buying a home in a new city comes with its challenges, but it's actually never been easier than it is today. Contact us today to check out some great home listings in the Dallas area.

Today's real estate market remains hot, hot, hot, with sellers enjoying high prices, while buyers are facing a highly competitive market that has made it difficult for some to land the home they're longing for. This is especially true for those selling homes in Dallas/Fort Worth or shopping for Dallas homes for sale and Fort Worth homes for sale. 

It's easy to get distracted during the buying or selling process by certain widespread real estate myths. Our real estate agents help many families in the area find their dream home and advise them to not fall for misconceptions they might hear from well-meaning friends and family members.

Read on about some common real estate myths you should not fall for.

• Myth 1: You don't need to do any prep work
  Many home shoppers think the process starts by rushing out and touring houses either in person or online before you've gotten yourself organized. The best course of action to ensure a smooth transaction is to plan your financing. Get either a preapproval letter or perhaps even a prequalification letter, from the lender you choose. This will help you be prepared when it's time to make an offer, but you'll also be able to focus on searching within the price range you're qualified for -- rather than wasting time looking at homes that are out of reach.
  
  
• Myth 2: You can do it alone
  You'll be missing the expertise an agent brings to the process, including knowledge of market conditions, and above all, the ability to negotiate the best deal. A good agent will also help you get your paperwork ready. Organized, complete paperwork can make the process flow much more smoothly than when papers and forms are shoddily prepared and incomplete.
  
  
• Myth 3: You can rely solely on online sources
  These resources can tell you a lot, such as an estimate of what your home is worth, or a calculation of your monthly mortgage payment. What's missing is a visit to a property by an agent, who can determine if the data is all correct.
  
  
• Myth 4: You won't need to worry about repairs
  Modern builders are tending to build quickly at minimal expense. That means you need to exercise caution regarding lower-quality construction. Hire a home inspector who is well versed in new home construction to suss out potential problems. Talk to your real estate agent about what to look for in new home construction  -- or older homes if you're looking at an older model.
  
  
• Myth 5: You should always offer less than the asking price for a home
  Low-balling the seller can be annoying to the point they may move on to a potential buyer who's easier to work with. Do you really want the home? Is the price reasonable? Then offer the list price or a price that's close to it. In really hot markets, you may need to offer over the list price to make sure you're in the competition. Your real estate agent should be able to help you strategize the best approach.

Need more help navigating today's real estate market? Contact us today.

Paige Shipp, regional director with housing analyst MetroStudy Inc. fears home sales might slow next year in the ramp up to presidential and congressional elections.  "We typically have much slower selling seasons right before an election," she said. "After that happens, the flood gates open and people come out. It's not a matter of who wins."   Worries about a recession may also impact the home market.  "We spent the better part of the last decade still looking over our shoulder," said George Ratiu, senior economist with Realtor.com.  "The last recession was so bad that we are still carrying some of the scars from that."   However, Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University states that Texas economy is still expanding.  "And we are extremely unlikely to be in a recession by the end of this calendar year," he said. "We are probably pretty safe through the first six months of next year."

• Dallas Morning News, October 14, 2019

Thinking about buying a house? Are you interested in condos for sale in Dallas?

As the leading city in the Dallas-Fort Worth Metro Area--the #4 most populous metro zone in the US--Dallas has something to offer everyone. It has a history as an economic engine for the whole region and attracts professionals of all stripes.

Home to more than 1.1 million people, Dallas is located in five distinct Texas counties. It features world-class universities, museums, sports complexes, hospitals, and more. Recently, high-end technological research has become key to the economy.

With all this action and excitement, it's no surprise Dallas is a great place to buy a condo.

In fact, condominiums are among the most accessible housing options in the area. Growing families, retirees, and young professionals can all find ideal options to meet their needs and their budgets. Dallas makes it all possible!

Let's look at ways you can find the best Dallas condo for you.

Finding the Ideal Dallas Condo 

1. Meet the Neighbors
   One of the biggest issues with living in a condo for the first time is proximity to the neighbors. In most cases, condos are directly attached to one another and you'll be side-by-side with two sets of neighbors. Don't fall in love with a property until you're satisfied you'll get along.
   
   
2. Double-Check Your Services
   Many condos come with services like reserved parking, extra storage, and lawn care. Early in the process, be sure you know what services will be included in your agreement. Get everything spelled out in writing so there'll be no confusion over informal agreements.
   
   
3. Learn About Association Fees
   Association fees are levied on condo owners on a monthly, quarterly, or annual basis. These pay for things like insurance and maintenance. They can also include one-time fees for major repairs. Review records from multiple years to understand how quickly fees are rising.
   
   
4. Check on FHA Approval
   The Federal Housing Administration is a government entity that helps establish some basic housing rules. It also backs a number of programs for buying a house – you may qualify for a loan with 3.5% down payment, but only if the condos are FHA approved.
   
   
5. Verify the Reserve Fund
   Unlike buying a house, when you buy a condo you're also "buying into" the association. How can you be sure that your local association is well-run? One way is by verifying how much cash it has on hand. A big reserve helps prevent unexpected costs and protect owners from issues.
   
   
6. If Resale is a Concern, Go Big
   A key part of buying a house – or any other dwelling – is having a plan. If you know you're going to be leaving within three or five years, a bigger condo will be more likely to appreciate in value. Average and smaller condos gain value more slowly and need to be maintained carefully.

Make Your Dallas Condo Search Easier

If you want to find a quality condo at an affordable price in Dallas, it's especially important to partner with a trusted local real estate team. When you choose RE/MAX DFW Associates, our REALTORS® in Dallas will work with you every step of the way to find the perfect condo. Our decades of experience in Dallas-Fort Worth means our team is second to none.

Contact RE/MAX DFW Associates for fast, friendly, personalized service.