Open House on Saturday in Oak Point

Go see my friend Miriam Genske at my client's property in Oak Point! She will have information for all buyers as well as snacks and treats.

You can see a video slideshow of the property at this YouTube link. 

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #OpenHouse #house #home #OakPoint #DentonCounty #Acre #land #LargeYard #RVSpace

710 Emerald Sound Blvd Slideshow

710 Emerald Sound Blvd.
Oak Point 75068
Offered at $650,000
MLS# 14755249

This 2,971 sq.ft. home has 4 bedrooms, 2.1 baths, 2-car garage attached with separate detached 2-car garage/workshop, 2 living rooms, dining and breakfast rooms, game room, fireplace, screened patio, spacious barn-style shed on a full acre of land.

Roof replaced March 2022. Screened outdoor living was completed in 2021. Enjoy the firepit, yard to romp and space to park RVs.

Kitchen has double oven, island, planning desk, walk-in pantry, and window bench. Formal dining and parlor are great for entertaining or convert into a relaxed home office. Downstairs is complete with a powder room, utility room and large family room with a fireplace.

Upstairs, primary suite can easily handle a Texas King bed, has walk-in closet, garden tub, separate shower and double sinks. Three bedrooms share a Hollywood bath with two separate sinks and vanities. The large game room can convert to a 5th bedroom, media room or super-sized office. Solar panel lease must transfer.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #OpenHouse #house #home #OakPoint #DentonCounty #Acre #land #LargeYard #RVSpace

New Yard Sign

710 Emerald Sound Blvd. is Active now (go see MLS# 14755249 quick!). I didn't have time until now to show y'all my new sign. I like it!

#DFWmark #REALTOR #DentonCounty #residential #seller #ForSale #YardSign #house #home #BlueSky

Market Watch - 25 March 2022

Since last week, New Listings, Pending and Closed increased while AOC decreased. The primary resale market remains inverted with about 300 more properties leaving the market than entering.

The Lease market had increases in all categories before the cyclical end of the month. Volume is up slightly across the Lease market, which also remains inverted.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #MarketWatch #MLS #changes #InvertedMarket #HousingShortage #NewListings #Pending #Closed

Open Houses in Oak Point

Open Houses – Fri, Sat, Sun!
710 Emerald Sound Blvd.
Oak Point 75068
Offered at $650,000
MLS# 14755249

This 2,971 sq.ft. home has 4 bedrooms, 2.1 baths, 2-car garage attached with separate detached 2-car garage/workshop, 2 living rooms, dining and breakfast rooms, game room, fireplace, screened patio, spacious barn-style shed on a full acre of land.

Roof replaced March 2022. Screened outdoor living was completed in 2021. Enjoy the firepit, yard to romp and space to park RVs.

Kitchen has double oven, island, planning desk, walk-in pantry, and window bench. Formal dining and parlor are great for entertaining or convert into a relaxed home office. Downstairs is complete with a powder room, utility room and large family room with a fireplace.

Upstairs, primary suite can easily handle a Texas King bed, has walk-in closet, garden tub, separate shower and double sinks. Three bedrooms share a Hollywood bath with two separate sinks and vanities. The large game room can convert to a 5th bedroom, media room or super-sized office. Solar panel lease must transfer.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #OpenHouse #house #home #OakPoint #DentonCounty #Acre #land #LargeYard #RVSpace

Market Watch - 18 March 2022

Since last week, New Listings decreased and AOC increased while Pending and Closed were flat.

The Lease market had decreases in New Listings and Pending while Closed increased. Both markets remain inverted this week.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #MarketWatch #MLS #changes #InvertedMarket #HousingShortage #OptionPeriod #Closed #NewListings

Coming Soon in Oak Point

Coming Soon!

710 Emerald Sound Blvd.
Oak Point 75068
Offered at $650,000
MLS# 14755249

This home has 4 bedrooms, 2.1 baths, 2-car garage attached with separate detached 2-car garage/workshop, 2 living rooms, dining and breakfast rooms, game room, fireplace, screened patio, spacious barn-style shed on a full acre of land.

Roof replaced March 2022. Screened outdoor living was completed in 2021. Enjoy the firepit, yard to romp and space to park RVs.

Kitchen has double oven, island, planning desk, walk-in pantry, and window bench. Formal dining and parlor are great for entertaining or convert into a relaxed home office. Downstairs is complete with a powder room, utility room and large family room with a fireplace.

Upstairs, primary suite can easily handle a Texas King bed, has walk-in closet, garden tub, separate shower and double sinks. Three bedrooms share a Hollywood bath with two separate sinks and vanities. The large game room can convert to a 5th bedroom, media room or super-sized office. Solar panel lease must transfer.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, Certified New Home Sales
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com

#DFWmark #REALTOR #ComingSoon #house #home #OakPoint #DentonCounty #Acre #land #LargeYard #RVSpace

St. Pat's Green Beer

Enjoyed a St. Patrick's Day green beer with KW North Country colleagues at the Little Wooden Penguin in Celina on Thursday, March 17, 2022.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #GreenBeer #stpatricksday #stpats #Celina #LittleWoodenPenguin #beer #CollinCounty #ItsFridaySomewhere

Let’s Talk Caulk

Caulk is any waterproof material that seals gaps and forms bonds between materials. It’s made from flexible polymers like silicone, latex, rubber or combinations of these polymers. There are four main kinds of caulk and sealants: silicone, latex caulk, expandable foam caulk and butyl-rubber caulk.

Caulk is sold in squeeze tubes for small jobs or cartridges for larger projects. It is available in various colors as well as clear and paintable caulk.

As stated in last year’s House Care and Maintenance post in the Information Of Value book (https://tinyurl.com/2p96xtyp), caulk is used to blend interior joints within the house. It also fills exterior gaps to protect against water, air, pests and noise. Caulk can stop drafts and air leaks to save energy expenses. It can also prevent water and insects from entering a building and causing destruction.

Caulk is sold in a variety of colors.

Traditional latex caulk is useful for interior repairs. For hairline cracks, hand rub some latex caulk into the crack until smooth and unnoticeable. Allow to dry overnight. Paint the next day. These are not warranty issues for new homes because shrinkage is expected.

Backsplash and tile intersections with the counters eventually need to be resealed due to shrinkage. It will also happen in all the bathrooms because caulk and sealants dry and shrink over time. Use silicone sealant around showers and tubs.

Does it need Caulk or Sealant?
Caulk: Both caulk and sealants are used to fill joints between seams. They often overlap in their use, but one is often better than the other depending on the requirements. Elasticity, stress and environmental conditions are the largest deciding factors between the need for caulk or sealants.

Caulk is also known as acrylic latex caulk – often called ALEX. It is waterproof, seals joints between building materials, expands with temperature changes, absorbs vibrations well, and dries more rigidly than sealants.

Due to its relative flexibility, caulk can connect building materials without cracking as grout and mortar would. It can also connect tiles and other building materials at 90-degree angles.

Caulk is ideal to fill gaps in drywall, wood, and masonry. It is inexpensive and easy to use. It is nearly odorless and cleans up well with water. It is relatively forgiving during the application process if you catch a mistake before it dries.

When not exposed to harsh environmental conditions such as rapid temperature changes, humidity and ultraviolet light exposure, latex caulk can last as long as 10 to 15 years before it needs to be repaired or replaced. This makes it ideal for molding, baseboards, doorframes, and paneling. Use paintable silicone caulk near doors, windows and siding where paint is likely to be needed. Joints lose moisture over time, settle and get hairline cracks. Expect to repair or recaulk in about five years in areas that have regular stress or extreme changes in temperature and humidity.

Tub and tile caulk is specialized with mildewcide added to protect against mold and mildew. This protection is guaranteed between seven to 20 years depending on the product and manufacturer. It is caulk that acts more like a sealant.

Sealants: Sealants are often silicone based and very flexible. Silicone sealants are often slightly flexible to the touch for years. Sealants work as a moisture and water repellant. It’s often the best option for windows, bathrooms, wet areas of the kitchen and outdoors. It is more expensive than latex caulk, but durable and holds up well to harsher cleaning chemicals such as bleach (latex will dry, shrivel and need to be replaced when exposed to excessive bleach).

Silicone is ideal in spaces that have frequent expansion and contraction due to rapid temperature and humidity variation. Windows and showers are prime examples of the spaces that would need silicone sealant rather than latex caulk.

Sealants can last as long as 20 years. They hold up to direct sunlight (ultraviolet light) and rain without completely drying or cracking. They are also used to seal gaps between two different kinds of building materials such as masonry and siding in older homes.

Cleanup will require solvents instead of water. It is more difficult to remove after installation, so ensure it’s the right option for the chosen application.

Expandable Foam Caulk
Expandable foam caulk is a polyurethane spray sealant. It is normally sold in cans that have a narrow straw for application. When exposed to the air, the polyurethane liquid rapidly expands to fill larger gaps and holes. It is ideal for insulation and sound dampening while it’s great for sealing from pests, air and occasional water. Polyurethane foam typically requires 10 days to fully cure.

This form of caulk is most frequently used in non-visible structural areas for protection from air, water (rain), pests and noise. Pest-resistant foam is ideal to fill holes and deter rodents. Expandable foam caulk is sometimes used for temporary repairs of minor slab-on-grade foundation cracks.

It is the best option for electrical outlets, exterior pipes and window jambs. It’s commonly used to seal dissimilar building materials inside walls such as masonry or metal pipes to lumber.

It is extremely sticky, expands rapidly with great volume and can be messy to apply. Mistakes aren’t as easily repaired while applying, but the dried foam is more brittle than silicone and can often be sanded down.

Pay particular attention to the expiration date on the can as expired products are known to have poor performance and may not expand or dry as expected.

Butyl-Rubber Caulk
Butyl-rubber caulk is for outdoor use only. It’s ideal for roofing construction and repairs. It withstands extreme temperatures and creates a strong, watertight and insulating seal.

It works well to seal gutters, siding and concrete. It’s the best option for aluminum, metal, mortar, concrete, exterior stone, plastics, vinyl and exterior wood. Use proper protection when using this product as it can irritate eyes and skin and is difficult to clean from skin and clothing.

Regular vs Fast Drying Caulk
Regular latex caulk and silicone sealants can dry to touch in about 30 minutes. However, they can require 24 hours to cure before painting, being fully waterproof or being placed under stress.

Fast drying caulk is referred to as “painter’s caulk.” It will dry enough to be painted within one hour of exposure to air, depending on humidity and temperature. While it provides a waterproof barrier, it’s best for areas that remain dry such as drywall seams in rooms.

Ceramic Tile Caulk
Ceramic tile caulk is either sanded or unsanded.

Sanded ceramic tile caulk adheres better to wet surfaces and to itself. It’s the best option for joints that are 1/8th of an inch or larger because it expands without cracking. Because it expands, it can crack tile if the gap is too tight. It has a grainy texture, so it works well with grout and tiles.

Unsanded ceramic tile caulk is mostly used on countertops and backsplashes to seal the seam gaps between tiles or stone. It’s the best option for joints that are 1/8th of an inch or narrower. It has a smooth texture rather than grainy. It may not adhere to wet surfaces as well as sanded ceramic tile caulk.

Tools
Minor jobs with latex caulk can be completed with a squeeze tube of caulk, a finger and a paper towel to clean up. Larger projects or those involving more complex sealants will require a caulk gun and some form of caulk shaping tool.

Caulk guns are used with caulk and sealant cartridges. Most caulk guns have built in nippers and a small metal rod to pierce the internal seal of the cartridge. These tools prevent dripping and arm fatigue while supplying a constant flow of material to the gap. While the nipper is convenient, cutting an angled opening on the tip allows for less waste and more control over the shape of the caulk bead while applying.

A caulking spatula, finishing or tool kit helps remove old caulk and uniformly shape the replacement caulk with a clean finish.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #IOV #InformationOfValue #caulk #sealant #ExpandableFoam #ButylRubber #CaulkGun #CeramicTile

If you see me around town this week, ask for a dishwasher magnet or a Spring button. When you start the dishwasher, turn the magnet to see Clean on top. After the dishes are back in the cabinets, turn the magnet to Dirty until then next wash cycle.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #magnet #button #free #Spring #TreeOfLife #dishwasher #CleanDishes #DirtyDishes

This is the Market

The current housing market won't crash unless there's a "black swan event." It may plateau, but that will take time.

Housing is basic capitalism: supply and demand. These are the new prices. They are the comps. This is what people will pay for a limited resource in a specific location and condition.

Just using 2021 housing starts as a baseline (1.7M), we are 9.028 million houses short nationally by using the Census Bureau annual starts (below). Other estimates put us closer to 10.5 million houses short nationally.

High demand areas such as Frisco, Texas are shorter on supply than demand. Consequently, prices and appreciation are higher than rural areas included in national numbers.

Please look at the housing starts since the year 2000.

You can also download the Census Bureau housing start data as a spreadsheet.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #HousingStarts #SupplyAndDemand #Construction #NewBuild #HousingShortage #CensusData #NoCrash

Market Watch - 11 March 2022

Since last week, New Listings and Closed Properties have increased while Active Option Contract (AOC) and Pending decreased. With more houses sold than listed, the market remains inverted for the 30th straight week. It’s essentially been inverted for 66 weeks since the sustained inversion started on 4 Dec. 2020.

Year over year, the volumes are relatively close to 2021 except for AOC. A nearly 25 percent drop in AOC since last year indicates a demand for shorter option periods – ideally zero days for most sellers.

While option fees are negotiable, most sellers want to see offers with significant “skin in the game” option fees. Buyers should expect pushback or to be completely skipped for low option fee offers or long option periods. Anecdotally, I’ve heard requests for option fees to exceed earnest money on multiple offer properties.

Buyers must have a trusted inspector selected and available before they submit an offer. Buyers also must ensure their finances are in order – ideally pre-underwritten to remove the contingency. There simply isn’t time for buyers’ mistakes.

The Lease market had a decrease in New Listings and a significant decrease in Closed Properties (leased) while Pending Properties increased. The lease market realigned this week, but it’s probably tied to cyclical movements because inventory isn’t expected to recover anytime soon.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ActiveOptionContract #AOC #NonContingent #InvertedMarket #HousingShortage #BePrepared #Preunderwritten

Market Watch - 4 March 2022

It remains a strong market for both sellers and landlords. 

Since last week, New Listings and Closed Properties have increased while Active Option Contract and Pending decreased. The market saw more listings this week, but those were snapped up by 2,994 Closed properties (a whopping 1,055 increase from last week).

The Lease market had increases in New Listings and Closed Properties again while Pending Properties decreased. Increases were expected since this period included the first of the month when most new leases begin. Although there’s a high volume of New Lease Listings, the lease market remains inverted again. The volume was quickly absorbed by tenants. Expect a lease shortage and increased prices again this year.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #NewOptions #HeatingUp #InvertedMarket #HousingShortage #LeaseHome #Closed #NewListings

Luxury Market Watch - February 2022

The luxury market performed well - especially considering February is a short month. All indicators increased. However, the market remains seriously inverted (157%) with hundreds more luxury properties leaving the market rather than entering.

There are currently 1,307 Active luxury properties for sale in the North Texas area. The most expensive is an incomplete construction property in University Park with a sales price of $43 million. Meanwhile, February’s highest closed price was $7 million in Wulson Estates of Dallas (in Preston Hollow).

If you’re ready to “right size” to a smaller property, now is the time. Call, text or email me to sell your property quickly for the highest price with the fewest inconveniences. 

I can help you locate several loan products that let you use your home equity to “buy before you sell” for reasonable fees. Some loan products even have $0 due at closing with ample appraisal gap coverage and offer repair options to maximize sales income.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #LuxMarket #SellNow #BuyBeforeYouSell #luxury #lifestyle #rare #unique

Market Watch - 25 Feb. 2022

The Multiple Listing Service (MLS) made several changes. Many fields were renamed. The terms “Sold” and “Leased” both became “Closed.” For accuracy, I changed “properties under contract” to “active option contract” to avoid confusion.

In Texas, buyers can purchase a “termination option” from property sellers in the contract. The option period is a short amount of time that allows the buyer to back out of the purchase for any reason. The length and cost of the option period is negotiated between the parties.

Inspections and other due diligence typically occur during the option period. If the contract moves beyond the option period, option fees are credited to the sales price at closing. If it terminates, the seller keeps the option fee.

Since last week, Properties Under Contract and Pending have increased while New Listings and Closed properties have decreased. The market remains significantly inverted with more Sold properties than New Listings.

The Lease market had decreases in New Listings and Closed Properties while Pending Properties were flat. The weekly data provided here is always pulled on Friday mornings, which was before the first of the month when most movement happens in the lease market.

Nonetheless, the lease market remains inverted. It’s likely that the spring lease season has already started, and leases will be difficult to find for most tenants.

The inventory shortage is the driving force behind the low number of closed properties. If more turnkey properties were on the market and/or priced properly, they would sell or be leased. It remains a strong market for both sellers and landlords.

I’ve Got Your Six!

Mark M Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #MLS #changes #InvertedMarket #HousingShortage #OptionPeriod #Closed #NewListings