How much do you know about the company behind your Real Estate Agent? Generally speaking, Agents are independent contractors and you're really just hiring them, not their company (right?). Well, early in my real estate career I learned that the company behind the agent has a lot to do with their training, attitude and even their integrity. Plus, should you ever have a problem with the Agent you've hired, you may be turning to his or her office to get things set right. You see, technically, when you hired your agent you actually hired their broker... though you'll probably never be aware of this unless something goes wrong (and then it's too late). That's one of the reasons I chose to join Keller Williams Realty. From the company's beginning they chose to encourage a positive culture of integrity and honesty that today permeates most Keller Williams offices and agents. I could feel it in the air when I visited my office for the first time (versus several other firms I visited that just didn't have it... the culture). That positive culture fit right in with my business and personal beliefs and it can be summed up with the company-wide acronym WI4C2TS (pronounced "Why-Four-See-Two-Teas"). These initials stand for:

Win-Win - Or no deal
Integrity - Do the right thing
Customers - Always come first
Commitment - In all things
Communication - Seek first to understand
Creativity - Ideas before results
Teamwork - Together everyone achieves more
Trust - Begins with honesty
Successs - Results through people

If you read the brief paragraph about my business and personal beliefs it's pretty easy to see why I not only found Keller Williams a perfect fit, but why I have prospered in their environment. While the real estate world can be rough and full of questionable business people and practices, it's nice to work in a place full of positive, ethical people that are committed to doing the right thing. I can't speak to every agent and every office, but every Keller Williams class or event that I've been to, and every KW training material that I've ever read, has been right in line with WI4C2TS... and THAT's the kind of company you want behind your Real Estate Agent.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

A common question, especially for first-time Buyers, is "How much money do I need to buy a home?" The answer can vary widely depending on your job, credit, the mortgage market and more. Besides your down-payment, there are certain "Closing costs" associated with buying a home that, again, can vary widely. For example, while someone self-employed might need to put 5%-10% of the sales price down plus several grand in closing costs, not everyone who is "self-employed" does. In fact, most people (self-employed or not) can put as little as 2.25% down and .75% towards closing costs (and have the Sellers pay the rest). Better yet, there are still down-payment assistance programs that allow many Buyers to get into a home for anywhere from a just few hundred to a few thousand dollars. Many first-time Buyers think that they don't have enough money, or good enough credit, and they're simply wrong. If only they would check with someone who knows what they're talking about!  Bottom line: you need to talk with a knowledgeable mortgage lending professional who will let you know how much cash you'll need to purchase a home, how much home you can actually afford, which mortgage programs might work best for you, etc. If all you needed was $500 to buy your own home, wouldn't you want to know about it? Everyone's situation is unique, so don't go thinking that just because a friend you work with couldn't get a mortgage (or he was told that he needed $10K down) that you do too. Check with a pro. to see where you stand (it's FREE). Most good Real Estate Agents know a few good Mortgage Loan Officers (I know I do). Let me know if you would like some help in contacting one.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Let's look at the December sales numbers, shall we? Comparing the month of December (2006 vs. 2007) you'll see that the number of sales for Collin County continues to be way off (over 300 fewer). Combine this with an slight increase in days on market and a slight decrease in the sales price/sq.ft. and, if this trend continues, it could signal trouble. I'm not ready to hit the panic button just yet, but it is certainly a Buyer's market right now with historically low interest rates and plenty of inventory (homes) to choose from. With that in mind, Sellers should be aware that homes are still selling (I've sold a bunch of my homes/listings in the past couple of months) but the homes that are selling, for the most part, are those with the best marketing, in the best condition, with the best prices.

Number of Properties Sold in Collin County - Dec. 2006: 1106
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2615	$254,197	$245,936	$94	73

Number of Properties Sold in Collin County - Dec. 2007: 883
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2613	$250,183	$244,619	$93	86

Well, it's official... Marion Elementary attendance boundaries in Lost Creek Ranch WILL NOT CHANGE!
I just posted the high points of the story on the LCR HOA website, but here they are again:

After a storied battle by Allen, TX Residents to make their voices heard, one which included televised news coverage, Lost Creek Ranch Residents were victorious today. The AISD School Board voted 7-1 in favor of the school boundaries proposal that will keep ALL of Lost Creek Ranch attending the school named "Marion Elementary at Lost Creek Ranch". A great BIG thank you went out to the committee and all of the other volunteers that made sure that the Lost Creek Residents' voices were heard on this issue which would have affected so many of our children (and, quite possibly, some neighborhood property values). There is little doubt that the committee's hard work preparing alternative boundary solutions, and rallying Resident attendance for Board meetings and at hearings (I was at several), provided the visibility needed to help keep all of Lost Creek Ranch at Marion Elementary. Click here to see the new maps on the AISD web site showing the 2009 and 2010 school attendance areas. Hurray for LCR! Rising up to support one another, even those who would not have been affected by the changes, is there any better definition of community?

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

See brief news coverage of the victory here. The students mentioned, who will continue to be able to walk to school, are the Residents of Lost Creek Ranch:

There are lots of Homeowners Associations (HOAs) in Allen. Each HOA has it's own purpose, but most are formed to keep common areas, yards, homes and neighborhood amenities in good order. For the purposes of this comparison, we'll be looking at those HOAs that at least have community pools (some HOAs have no common areas to maintain). These HOAs tend to have annual dues ranging anywhere from a few hundred dollars a year to almost $1,000 per household. There are various factors, but HOA dues tend to be greater in communities with more amenities. While the average HOA dues in Allen are around $450 per year, the average HOA doesn't have much more than a community pool in terms of amenities (plus maybe one other like a park, pond or jogging trail). Luckily for the Residents of Lost Creek Ranch, we have very average dues (at around $436 per year), but our amenities are anything but average. Just look at the above-average list of amenities we have to be proud of for our very average dues:
- Community pool
- Community playground (next to pool)
- Private park (on Prairie View Drive)
- Not just one, but three ponds with fountains
- Not just one, but two jogging trails (one along creek and one around the ponds and fountains)
- Community events like the Fall Festival, Spring Carnival, Holiday light & décor contests, etc. 

I sell a LOT of homes in MANY of different communities all over Allen and even in McKinney, Plano, Frisco and beyond. However, when I'm asked about great communities with great amenities, Lost Creek Ranch has always been at the top of my list. That's one of the reasons I chose to make LCR my home and why I've always been so involved here. Most communities with the same amenities are paying at least $500-$600 per year. Our large number of homeowners, and budget-conscious board, have keep our dues very reasonable in comparison.

I've seen them, most of us have, but I finally found myself wondering "Why?". I'm talking about the neighborhoods with HOAs that require Agents to purchase and use signs that are custom/standardized for their individual community. While almost as annoying as the HOAs that won't let you put signs out at all, these communities actually cost extra (signs that should cost $40 often cost agents double that). I'm curious to hear your comments about this and how it might "benefit" these Homeowners/communities. The only thing I can think of is creating a more uniform look (i.e. keeping trashy hand-written signs out), but this solution seems over the top. Why not just disallow non-professionally printed signs; and there are bigger problems: Many real estate companies or franchises have rules about Agent signs (size, color, what can be on them, size of their logo and the agent name and/or phone number, office vs. Agent phone #, etc.). The latest example of the "uniform sign phenomenon" I saw was in Cross Oak Ranch in Lewisville, TX. Aluminum signs that shouldn't be more than $40 or $50 cost almost $100 after tax! Oh, and you generally have to get them from one particular sign shop the HOA has "approved". Other communities (and their cities) where I think I may recall seeing this: Providence (Providence Village), some parts of Twin Creeks (Allen) and Craig Ranch (McKinney). So, if certain Agents/offices may have a hard time getting the corporate OK to use such a custom sign, is it really in the Homeowners best interest to restrict their choice in Agents just for a uniform look (and a few bucks profit)? I know the sign companies benefit, and I'm assuming the HOA (or management companies) are getting a piece of the sign profit pie, but what are the real benefits to the homeowners? Finally, I tend to think that restricting the information that is on the signs, and available to potential buyers (i.e. not allowing riders like "pool", "4 bedroom" and additional info. like the Agent's direct #), can only hamper the selling process.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Most Homeowners know that they can save some money on their property taxes, in most Texas counties, simply by filing a homestead exemption with the county appraisal district. However, some are simply not aware of the savings while others are just not aware that that they do not have the exemption for their current home. Basically, the exepmtion reduces the taxable value of your property for various property tax categories. How much you save and for what tax categories (city, school, county, etc.) will vary depending on your location and the county's appraised value for your home. Filing is easy enough as most counties have a one or two-page exemption form that can be turned in after you spend your first January 1st in the home. Everyone typically qualifies as long as they don't have a homestead exemption filed for another property/home. You can check to see if you have a homestead exemption on your property by calling your local county appraisal district or visiting their website (like www.CollinCAD.org). Home buyers are sometimes fooled by companies that mail them very "official" looking homstead exemption forms (which they offer to file for $25-$50). Do NOT be fooled by these companies. While some may actually file your exemption (and yes, others may not file at all), I am not aware of any counties local to the DFW area who actually charge for filing your homestead exemption. Basically, these companies make money from those who are not aware of how easy and how cheap (i.e. free) it is to file your homestead exemption. If you haven't double-checked your home with your local appraisal district, it's worth the two minutes it takes to look online.

Other local appraisal district websites:
www.DallasCAD.org
www.DentonCAD.org
www.RockwallCAD.com

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

"We're going to put our house on the market in the spring."

This is a favorite refrain for Sellers. Spring is thought by many Sellers (and even some Agents) to be a better time to sell a home. Plus, there's Spring cleaning going on and it's just before the kids get out of school and a Spring/Summer move is often desirable to both Buyers & Sellers. The "better time to sell" mentality generally equates with Spring being the "busy time" in real estate. While it is true that there are usually more Buyers in the Spring, and usually more homes sold during the Spring, what many Sellers don't think about is the increased competition (there are usually more homes on the market) every Spring. So, what I've been telling Sellers for years is that Spring, in the real estate market, starts in January. The premise for this reasoning is that you want to be on the market before there are lots of other homes, very similar to yours, also for sale. This doesn't mean that you don't need to make sure your home shows beautifully and is ready for sale. You still need to prepare it for sale and make it as close to a "model home" as possible (I always tell my Sellers to go visit a builder model if they want to see a home that sells). Hopefully, after all cleaning and repair projects are completed and the home is ready for showings, it will be a first-choice for those Buyers who don't yet have all the homes to choose from that they will in March (but couldn't wait 'till Spring to get out there and start looking at homes).

For those Sellers that are afraid homes are not selling right now, you might want to reconsider. I've sold over half of my listing inventory in the past couple of months; over the holidays and in the "dead" of winter (which wasn't dead at all for me and most of my clients). There are Real Estate Agents who "take the winter off" or consider it the "slow time" and so they slow down their efforts and spend more time with family or on another business. Interestingly, these tend to be the same Agents who feel that Spring is a better time to sell. Personally, I think these Agents fuel the fallacy that many Sellers have of winter being a bad time to sell a home. I do not subscribe to that school of thought. There are fewer homes on the market right now and the Buyers that are out there are more serious (fewer tire-kickers... it's not as fun to look at homes in the cold). I've never had a problem getting homes sold in the winter months. So, get that home ready to sell and on the market ASAP; the early bird gets the worm.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Pre-owned home purchases are almost always preceded by an independent inspection by a state-licensed home inspector. However, new homes often get purchased with no such inspection performed. After all, do you really need an inspection on a brand new home that has a warranty, was built according to local, state and national building codes AND was inspected by code enforcement officials?

The short answer: Yes.
The long answer: Many people feel that they don't need an independent inspection because they're buying a brand new home. Builders will usually tell you they are not needed and a few will really try to discourage you from getting one. "We have our own independent inspections done" or "the city inspects every home" are the most common refrains. Inspections, after all, cause delays as they have to address any concerns found due to an inspection. Trouble is, new homes are built by humans... and almost never perfectly. Contractors, sub-contractors, day-laborers and more will often do work on a new home. Don't forget about the nosy neighbors, kids and potential buyers of similar homes in the neighborhood who will probably walk through the build site while the home is being constructed. Many times, work that was done correct by one contractor is undone or messed-up by someone else. Also, after something has passed the city or county code inspections (keep in mind, building code only sets MINIMUM standards), those things are almost never reviewed to see if someone messed-up work that was correct previously. Finally, sites are often not looked at that closely in the first place. If homes look pretty good in a subdivision by a certain construction manager, some may not get checked at all. Code enforcement officials are usually overworked and have LOTS of homes to inspect (and, of course, some are better than others).

If you're thinking your new home warranty will protect you, you're not completely safe there either. Home builder warranties generally just cover the home. Most state that, should something "break", the builder will only repair the home. What if a pipe was installed incorrectly or was damaged after being installed correctly and passing code enforcement inspection. Upon breaking, lets say your furniture, clothing or electronics were damaged. These items are usually not covered by the builder (and you better hope they are covered by your homeowners insurance). Even if nothing was damaged (or you got the personal items covered by your homeowners policy), it may take weeks to get repairs completed. Wouldn't it have been nice to know about that pipe before it broke? An independent inspection could have helped.

So, when do you get a new home inspected? The most important time is the pre-sheet-rock inspection. This is after all of the plumbing and electrical work is completed, but just prior to sheet-rock going up (which can cover-up any problems until it's too late). Other times (often part of a multi-phase inspection) include a pre-pour inspection (just before they pour the foundation and cover-up the plumbing and reinforcement rebar) and a final inspection after the home is completed (also great to do just before your initial "cover-all" warranty runs out). Ask a good real estate agent for the names of a good inspector. After all, what's a few hundred bucks in inspections to insure the largest purchase you've probably ever made is built correctly and built to last?

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com