Thursday, January 30, 2014

Red Tip Photinias in North Texas

Red Tip Photinias in North Texas


Are you thinking of planing red-tip photinias?  Please don't until after you have read this post and decide for yourself if the advantages are worth the disadvantages.


Red-tips were planted widely in North Texas in the mid-1990's.  They are drought tolerant, tough, and vigorous.  They seemed to be the perfect plant for the Texas climate as they will tolerate Texas sun and usually need little maintenance.  The shrub--technically a tree--can easily reach 10 to 15 feet tall and stretch to 5 to 8 feet wide and provide privacy on small lots.  Best of all, it grows rapidly and provides attractive foliage.

However, disadvantages are many.  First, red-tips are vulnerable to Entomosporium, or fungal leaf spot.  If not controlled, the disease can cause complete defoliation.  Once established the disease is difficult to eradicate and causes massive leaves to drop.


This disease has destroyed thousands of red-tips nationwide and has given the shrub a negative reputation, especially in the south.  Excess moisture on the leaves from humidity or landscape watering and a lack of circulation between plants are the two prime factors contributing to the disease.  In Texas, our omnipresent sprinkler systems water the leaves on the plants which are planted too close together to provide adequate circulation.

Second, the plant's admirable qualities can quickly turn into negatives as rapid growth turns into an unwanted invasion.  Red-tips can outgrow and overwhelm your landscape in a short time.  More importantly, as the roots search for water, they can drain the soil of moisture needed to maintain the foundation.   As they continue to search for water, the roots move under the foundation and break the concrete and the foundation beam wall.



According to Neil Sperry, well-respected North Texas gardening expert, hollies such as the yaupon, Nellie R. Stevens and Mary Nell, the Japanese ligustrum, and the Chinese photinia are all well-suited to substitute for the red-tip.

Visit our website for additional options on fast growing screening shrubbery to plant around your home. 

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Wednesday, January 29, 2014

Homes for Sale in North Richland Hills, Texas

Homes for Sale in North Richland Hills, Texas

 
 

Are you looking for a home for sale in North Richland Hills, Texas?

Northeast Tarrant County offers many choices of housing for the more affluent, from brownstones and condos to estates with acreage in Southlake, Colleyville, and Keller.  However, more affordable housing can be difficult to locate.

North Richland Hills (NRH) does offer more options at varying price points for those who would like to live and work here.  The current inventory breaks down into the following price ranges:
Not only does North Richland Hills offer housing choices at reasonable prices, the city possesses amenities that contribute to an excellent quality of life for those choosing to live there:
  • Birdville and Keller school districts serve the city.  While not all schools are created equal, both districts offer excellent schools within their districts in NRH.
  • Citizens and visitors can enjoy outdoor recreation at NRH20, an extremely popular family waterpark, and on over 700 acres of parkland in the city.  Golfers can take advantage of Iron Horse Golf Course, chosen to be one of NETC's most popular public golf courses in the Fort Worth Star-Telegram newspaper for several years.
  • An impressive state-of-art city hall complex at Hwy. 26 and Loop 820 should be complete in 2015.  Along with providing improved services to citizens, the new city hall campus will provide a handsome public space in a prominent location to replace vacant acreage where a mall was demolished. Construction will include a one acre plaza for public events, which should regularly bring residents and visitors to visit the complex.
  • In an unexpected step to create a unique city identity, an atmosphere of art appreciation, and a more beautiful city, NRH has created the Art in Public Places Program and Signal Art Program. The City has placed 17 pieces of sculpture in public spaces and parks in the Art in Public Places Program.  As a part of the Signal Art Program, local artists have designed original artwork for traffic signal boxes throughout the city.  Encountering art in unexpected places provides a pleasant surprise for visitors. View the public art in NRH here.http://www.nrhtx.com/SlideShow.aspx?AID=10&AN=Art in Public Spaces
Take a look at the homes in North Richland Hills, and let us know if you are interested in visiting any of them.  You can always find an experienced Realtor with excellent market knowledge on the Grove Team of Keller Williams Realty.

 
Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
Find us on FACEBOOK
 

Friday, January 24, 2014

Homes for Sale in Trophy Club, Texas

Homes for Sale in Trophy Club, Texas

 
 

Are you searching for a home in Trophy Club, Texas?

Home buyers in Trophy Club are as frustrated as buyers in Keller and Southlake with the process of locating a home.  The supply currently is approximately one month, and only 34 houses are currently available.  The pricing bands are as follows:

(Follow the links to find updated listings in each price band.)

When buyers do find a home in Trophy Club, they are likely to enjoy the country club atmosphere, 1000 acres of parkland and easy access to Lake Grapevine.  The location on newly improved Hwy. 114 offers an easy commute to Fort Worth or Dallas.  Shopping for daily essentials such as groceries and prescriptions is located in Trophy Club.  More extensive selections are available in Southlake Town Square and Alliance Town Center.



Children attend Northwest ISD.  The schools serving Trophy Club at present area Samuel Beck Elementary, Medlin Middle School, and Byron Nelson High School.  Northwest ISD enjoys an excellent reputation.  Byron Nelson High School is widely regarded as a showplace with eight specialized academies to prepare students for work or for college.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Monday, January 20, 2014

Homes for Sale in Colleyville, Texas

Homes for Sale in Colleyville, Texas

 
 
 

Searching for homes in Colleyville, Texas?

Home buyers who would like to live in Colleyville, Texas, have a bit more selection than those in other cities in Northeast Tarrant County.  The inventory of homes stands at about a four month supply, far more than in other cities in the Metroplex.

Colleyville's price point explains the higher inventory.  The lowest price of a home for sale (not a tear down or an older home needing extensive remodeling) is currently at $365,000.  The median price point in 2013 was $449,950.

The available homes in Colleyville, Texas, break down in the following ways:
Of course, the inventory is constantly changing, so click here for an updated search of the entire market in Colleyville.

Colleyville continues to attract buyers because of its excellent location and proximity to DFW airport, downtown Dallas and downtown Fort Worth.
 


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Colleyville has made a commitment to green space with its 11 parks and recreation areas, including the Colleyville Nature Center



The Grapevine/Colleyville ISD has an excellent reputation with parents and students alike and offers a wide variety of course offerings and programs to accommodate any students.

These are the differences when looking at the median price points for various cities in NETC:
The market in Northeast Tarrant County continues to change.  For experienced Realtors with extensive market knowledge, please call the Grove Team at Keller Williams.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Friday, January 17, 2014

Homes for Sale in Southlake, Texas


Homes for Sale in Southlake, Texas

 
 

Looking for a home in Southlake, Texas?

Because of Southlake's affluence and desirability, the price point is higher than it is in Keller, Texas. (Search here for homes for sale Keller, Texas) The median price--price at which as many homes sold below that point as above that point--in Southlake for 2013 was $550,000.

As of this moment, home prices of available homes broke out in the following way:
(Click on the link following each price bracket for the most current information on available properties.)



For buyers shopping under $799,000, the months of supply hovers between one and two months.  For those searching above $799,000, the market is more normal at approximately five months.  As mentioned previously, conventional real estate wisdom holds that with a six month supply of homes, buyers and sellers are entering the market in equal numbers.  When the number of months supply decreases, the market becomes a seller's market.

What does this mean for someone considering listing their home?  Sell now.  Before the recession, experienced Realtors were able to reliably predict the direction of the market in various cities and could better predict when to release a home for sale to the market.  However, the landscape has changed, and a single event can transform the real estate market quickly.  Sellers should take advantage of the low inventory to sell quickly and at the best price.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.

Office (817) 337-0000
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Wednesday, January 15, 2014

Should I Plant a Bradford Pear Tree?

Should I Plant a Bradford Pear Tree?

Bradford Pear
Newcomers to North Texas are impressed with Bradford Pear trees.  In the spring they display abundant small white flowers and in the fall the foliage turns magnificent colors.  The tree can withstand our soil and most Texas droughts.  Buyers of new construction homes find that it grows quickly to provide shade and aesthetic value.

Flowering Bradford Pear
However, there are major drawbacks to Bradford Pears that should give North Texas residents pause when deciding which tree to plant.  First, the tree limbs are weak and split easily, especially in the wind.  Since the branches all grow from about the same area on the trunk, they usually chafe against each other resulting in cracks as they grow.  The majority of Bradford Pears will need an arborist's attention before the end of their lives.

The most important reason not to plant a Bradford Pear is its root system.   The root system is shallow and spreads broadly to find water.  The roots can break the soil and making mowing impossible and walking and running a hazard.  But unsightly roots and a lack of play space in the backyard are not the worst effects of the shallow root system.

In North Texas, the root system's search for water will take it under the foundation and can cause extensive damage to the foundation, pipes, and plumbing.  Young feeder roots can easily extend past the canopy of the tree spreading further than the homeowner might expect.  This reason alone should discourage homeowners from planting Bradford Pear unless they have a location with full sun, no wind, and lots of space away from concrete surfaces.

Need some privacy, but not sure what to plant?  Check out our custom privacy shrubbery page at groveteam.com to learn more about privacy shrubbery options.   

Whether it's selling your home or finding a new one, we have designed our website so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Monday, January 13, 2014

Looking for homes for sale in Keller?

Looking for homes for sale in Keller?



The problem of insufficient inventory continues to slow the number of home sales in Keller.  The numbers continue to indicate that buyers at lower price points will have few choices:

Only 7 homes are for sale in Keller priced under $239,499.
What do these numbers mean?  In 2013, the median sales price in Keller was $317,302.  (In other words, as many homes sold below $317,302 as sold above that figure.)  If you are in the market at under $317,302, then you have 24 homes to choose from.  If you are in the market above the median price, you have 109 homes to view before making a decision.

Using another real estate statistic, months of inventory, the prospects continue to grow even grimmer.  In conventional real estate wisdom, six months of supply of homes is a balanced market: There are about as many buyers as sellers coming on to the market.  In Keller today, there is less than two months of supply up to $315,000.

If you are shopping at that price point, then your agent will have to be extremely aggressive in getting you in to see homes the minute they come on the market.  If you decide that you like a home enough to make an offer to purchase, your offer will have to be strong to be accepted since competitive offers have become the norm.

A strong offer will usually mean submitting a price of list price or above as a starting point.  After that, your agent will advise as to ways to propose other terms favorable to the seller that can influence the seller to accept your contract.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
 
Office (817) 337-0000
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Wednesday, January 8, 2014

Homes for Sale in the Trailhead Addition in Southlake, Texas

Homes for Sale in the Trailhead Addition in Southlake, Texas

 


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Development of the Trailhead Addition in Southlake began in 2000 with most homes constructed in 2001.  The neighborhood of 28 homesites is located between Pearson to the west, Randol Mill to the east, Johnson Road to the south, and Florence Road to the north. The neighborhood is comprised of the main entry street, Trailhead Drive, and two cul de sacs--Aurora Court and Gallant Court

Residents of the Trailhead Addition in Southlake seem to be contented in their neighborhood:  Only one property shows as actively marketed by a realtor, and the listing agent's notes indicate that bank--it is a foreclosure--has accepted a contract.

In 2013, only four homes sold in the subdivision.   The average sales price in 2013 was $451,250; the average days on the market was 43; and the average price per square foot was $108.20.  Half acre lots are the standard and homes range in size from approximately 3500 square feet to 4600 square feet.

Up until now, children have attended schools in the Keller Independent School District.  However, the Carroll Independent School District--which serves most of Southlake--has approved open enrollment.  Open enrollment means that if  children reside in Southlake, but live in another school district's attendance zone, they can apply to attend Carroll schools.  Should open enrollment be approved and parents choose Carroll schools, parents would provide transportation for their children to and from school.

Keller ISD schools which serve the neighborhood are Florence Elementary, Keller Middle School, and Keller High School.  These schools are popular with parents, students, and educators and have excellent reputations.

As with all of Southlake, the Trailhead Addition is convenient to shopping, to DFW Airport, and both Dallas and Fort Worth.  Residents benefit from the amenities of Southlake with its dining and shopping, but also enjoy the feeling of living in a more rural atmosphere.

Keep up with homes available for sale in Trailhead, click here.

Looking for homes available for sale in Southlake, click here.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Monday, January 6, 2014

QM? What’s a QM? Qualified Mortgage?

QM? What’s a QM? Qualified Mortgage?

A special thanks to our friends at Fairway Mortgage and Greg Ulrich for providing this great update on changes that will be happening this year! 
 
 


Qualified Mortgage (QM) Standards and the Ability to repay implementation January 10, 2014
So why the QM rule? It requires creditors to make a reasonable, good faith determination of a consumer’s ability to repay any consumer credit transaction secured by a dwelling and establishes certain protections from liability under this requirement for qualified mortgages.  I would have to describe the spirit of the rule as threefold. To protect consumers from unscrupulous lenders that could put them into a loan that is not good for them. To protect buyers from themselves by not over buying.  And third to make sure a consumer is not overcharged.  So the intent is good right?
It was 1993 and a young 23 year old right out of college entered the mortgage business as a loan officer ready to make the “big bucks” (making $16k that first year).  After working through his first couple of loans he found himself saying often, “Boy it sure is hard to get a loan through underwriting.” FHA had debt to income requirements of 29/41, Conventional was 28/36. The minimum down for Conventional was 10% and then FNMA announced they would allow 5% down and underwriters started biting their nails! Fast forward seven years and from 2000 to 2007 things became…well loose. First stated income, then subprime, then no ratio and then no doc! In 2005 the young Loan Officer was now 35 and moved up to a producing Sales Manager. He had a meeting with an Account Executive from Widecountry (we will not use their real name to protect their stellar reputation). The Account Executive was beaming ear to ear. “Great news!,” she said.  “We can now do a stated income loan with no down payment and a credit score down to 620.” The Producing Sales Manager blinked in dismay shaking his head and said, “Wow, this has gone too far.” A little over a year later the bubble burst.
A recession hit that has been compared to the Great Depression of the 1920’s. Large investment Banks saturated with toxic mortgage backed securities either went out of business or merged with other large investment banks. Rating agencies lobbyists managed to keep the focus on the evil banks and evil loan officers and avoid scrutiny for being paid BY THOSE THEY RATED to give AAA ratings (Google it). FNMA was no longer a Government Sponsored Enterprise, but taken over and now owned by the U.S. Government. As of today more than 380 mortgage companies and banks have closed.  Since then there has been a lot of change and regulation, but enough history, let’s dive in to what is coming at the start of next year and how you the Realtor are affected by this.  
Here is what you need to know about QM so you can be ready before January 10th. Why before? Are those folks that are currently pre-approved valid buyers if they close after January 10th? See below.
·         The maximum debt to income will be set at 43%. There are exceptions to loan type, but irrelevant to you the Realtor (If you are interested here is a great link from the CFPB. http://www.consumerfinance.gov/regulations/ability-to-repay-and-qualified-mortgage-standards-under-the-truth-in-lending-act-regulation-z/ )

So if a Loan Officer preapproves a buyer incorrectly they will not be able to switch them to another loan program that allows for a higher debt to income.  Ask the lender if they have gotten financials from the borrower for an accurate pre-approval. If a buyer has a “side job” they very well could be writing off expenses that will negatively affect their qualifying income or even write off unreimbursed expenses.  

·         Points and fees are less than or equal to 3% of the loan amount for loan amounts over $100,000.00. The point/fee threshold will be $3,000 for loans from $60,000 to $99,999 and for loans from $20,000 to $59,999 it is 5% of the amount financed.  Keep in mind these amounts are not just lender charges.  Remember, many of the costs are fixed. A $500 processing fee is 1% of $50,000 loan and .167% of a $300,000.00 loan. Yes, your spidey senses should be tingling as are mine! Phrase for 2014…”Unintended Consequences.” “Sorry Mrs. Buyer, your rate has to be higher to absorb costs…” Or even worse, “Sorry Mrs. Buyer the rule is in place but unclear so you cannot qualify for more and since the rule is unclear we cannot loan you less.”

·         No risky features like negative amortization, interest only or balloon loans. This has no impact on you as an Agent as there has been no secondary market for this product in the last 5 years so the product does not exist anyway.  By the way, those evil, terrible, negative amortization loans still in loan servicing existence from the early 2000’s currently have an accrual rate of 1.875%. What? I thought they were terrible loans? It has to be true. I read it on the internet…

·         Even if a loan is not a QM it can still be an appropriate loan. Did you know under this rule the borrower can sue a lender if their loan goes into foreclosure and the borrower feels the lender does not qualify their ability to repay or follow QM. I can’t think of an institution out there that would invite this kind of litigation.
In 1993 it was,“Boy it sure is hard to get a loan through underwriting.” And so it is in 2013. This won’t slow you down.  It is just a lot like it used to be. Stay informed. Keep moving!

Greg Ulrich, MLO
Fairway Independent Mortgage Corporation
NMLS #254799
817-812-2287 Direct

 This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. ©2013 Fairway Independent Mortgage Corporation NMLS ID#2289. EQUAL HOUSING LENDER.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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Friday, January 3, 2014

Market information for Bella Vista - Keller, TX

Market information for Bella Vista - Keller, TX 

 

When searching for homes in Keller, Texas, home buyers will want to consider the Bella Vista neighborhood.  Bella Vista's convient location sits west off of Rufe Snow and north of Rapp Road with easy access to Hwy. 377 and Hwy. 114.

Bella Vista offers a quiet location in a smaller neighborhood of under thirty homes.  The recent average sales price is $386,429; average days on the market is 73; average square footage is 3,644.

The schools serving the area all have excellent reputations.  The elementary school is Willis Lane.  Older students attend South Keller Intermediate, Indian Springs Middle School, and Keller High School.
 

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For an updated search of homes availalble for sale in Keller, Texas, click here.
 
Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
Find us on FACEBOOK