Market Watch - 29 July 2022

Since last week, New Listings and Pending Properties have decreased while AOC and Closed Properties increased. All of these are somewhat in line with cyclical behavior related to the beginning of the school year, which is 10 Aug. 2022. Expect all indicators to move into a decreased autumn pattern in about two weeks.

Price decreases hit a height of 3,859 properties within the last seven days. It more than doubled the previous post-pandemic peak of 1,806 on 20 Aug. 2021. This was possibly in anticipation of The Fed raising lending rates again this week and adding difficulty to loan acquisitions.

The Lease Market also had an expected increase in Closed Properties and decreases in New Listings and Pending Properties. Lease inventory continues to grow as average prices increase.

All major lease indicators are higher this year than during the same time last year. Year over year increases are 388 New Listings, 100 Pending and 213 Closed.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #BackToSchool #inventory #BuyNow #PriceDecreases #HighRent #SummerEnd #NestingSeason

Open House in the Reserve at Westridge on Saturday

Open House
Saturday, July 30, 2022
From 2 p.m. to 4 p.m.
10300 Paul Revere Way, McKinney 75072
Listed at $675,000

This 3,731 sq. ft. home in the Reserve at Westridge community of McKinney has 4 bedrooms, 3 and a half baths, a study, game room, and media room.

Located within the Prosper ISD, the smart home is ready for work or relaxing evenings on the front porch. Wood floors cover the common areas of the ground floor. The front office has French doors and large windows. It has access to the dining room and a convenient half bath. The kitchen has tile floors, stainless steel appliances, gas cooktop, granite countertops, island with a sink and breakfast room. Open concept living room has a gas fireplace. Primary bedroom is downstairs with a garden tub, roomy separate shower and dual sink vanities. Two-car garage has an epoxy floor.

Upstairs features a large game room, three bedrooms, two full baths and media room with surround sound and media lighting. Neighborhood amenities include a waterpark with pools and slides!

I’ve Got Your Six!

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

#DFWmark #REALTOR #OpenHouse #McKinney #ProsperISD #CollinCounty #office #GameRoom #MediaRoom #ReserveAtWestridge

Market Watch - 22 July 2022

Since last week, New Listings and AOC (Active Option Contract) decreased while Pending and Closed Properties increased. After nearly 18 months of an inverted market, New Listings remain the dominant factor as it should. The market realigned around 13 May 2022 when record high fuel prices were noted nationally and has remained generally aligned since then.

The continued low number of homes in AOC indicates few Option days are purchased for inspections and other due diligence as well as more cash purchases that may not require any inspection. The higher volume of cash purchases is supported by the nearly equal number of Closed and Pending properties. Cash deals most often close faster and sit fewer days in Pending.

While there are several significant issues happening in the housing market, the dominant trend is the amount and severity of price decreases. Rather than just showing the graph, I’ve included my notes about possible causes or effects upon the market.

Price Decreases are an indicator of certainty. If sellers are certain that their houses are priced properly, there is no need to decrease the price. However, if buyers don’t make offers or offer too little, the sellers may consider a price decrease as a result of uncertainty.

Location, condition and price are the three driving issues involved in the sale of real estate. Location can’t be changed. Condition can change some within reasonable demands of the market. If a property isn’t selling, it’s almost always a matter of price. Price is always negotiable.

In the Lease Market, Pending and Closed properties have decreased while New Listings increased. There were about 40 fewer houses leased during this week last year, but about 300 fewer new listings. The big spike last year happened after the first of August. Most schools will start on 10 August this year. Expect another spike in closings.

If someone wants a lease property in their ideal school district or specific attendance zone, they should act now. Meanwhile, it’s never too late to purchase and move to a permanent home.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #AlignedMarket #normalizing #BuyNow #SellNow #HighRent #ShortSupply #TimeWindows

Open House in Prosper on Saturday

OPEN HOUSE
Saturday, 23 July 2022
From 2 p.m. to 4 p.m.
821 High Willow Dr., Prosper
Offered at $825,000

This 3,473 sq. ft. home on an oversized corner lot in the desirable Willow Ridge neighborhood has 4 bedrooms, 3 and a half baths, office, media room, game room, deck and 3-car garage.

Home was remodeled in 2021 with custom cabinets, stainless steel appliances, marble countertops, tile, trim, fixtures and fresh paint. Trees shade the brick Weekley Homes house in the Prosper ISD.

First-floor primary bedroom has natural light, wood floors, and trayed ceiling. It features dual sinks with separate vanities, a deep soaking tub, separate glass shower and brushed nickel fixtures.

Kitchen features butler’s pantry, island, breakfast bar, walk-in pantry, double oven, and is piped for gas. Downstairs is complete with the dining, family room, office, half bath and laundry.

Upstairs has three comfortable bedrooms, media room, game room and study desk area. The large back yard has a wrap-around deck including a covered section with electricity and a ceiling fan.

I’ve Got Your Six!

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

#DFWmark #REALTOR #OpenHouse #Prosper #CollinCounty #WillowRidge #ProsperISD #WeekleyHomes #house #home

Initials Carved in Curb

I love it when builders are kind enough to etch my initials into the curbs near my clients homes!

I’ve Got Your Six!

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

#DFWmark #Realtor #NewConstruction #NewBuild #MustangLakes #Celina #CollinCounty #manhole

Testimonial - Frisco

I'm honored beyond words. Not even an ice storm could stop us. Thanks for your trust and steadfast support! 

It's a complete joy to help friends find their dream home. Y'all made perfect decisions without hesitation. What a neighborhood, house and view! I wish y'all decades of happiness in your forever home!

"I write this review with great enthusiasm about Mark M. Hancock. Mark was our realtor for selling our home and buying a new one in Frisco, TX, and it was the best decision we could have made. During an extremely hot market, Mark helped us find our dream home. 

Mark goes above and beyond in ways that I have never experienced. He got his hands dirty by edging, blowing leaves, and picking up trash before our open houses when we were selling our home. He treated the house as his own and paid attention to every small detail. 

He is the hardest working person I know. Another great quality is that he is available around the clock. I don't know when he sleeps! We received immediate responses to any and all questions and he always kept us informed. 

Mark is highly experienced and knowledgeable about multiple areas not just real estate. He made excellent recommendations for any of our needs. Mark truly made the entire process easy and effortless. He is a person of high integrity and we trust him completely. 

I highly recommend Mark for buying and selling a home. You will not be disappointed with the sophisticated level of service he provides for all his clients. 

Thank you, Mark!"

Lupita Tinnen - Frisco

#DFWmark #REALTOR #testimonial #review #sell #buy #Frisco #FriscoISD #DentonCounty #OakPoint

Improve Your Photos

This is an updated repost of the information that I presented to professional photojournalists at the New York Press Association Annual Convention on April 4, 2008.

Additional information is located on the All PJ-related posts section of my PhotoJournalism blog (markhancock.blogspot.com). Underlined topics are linked to posts with detailed information about the subject.

Please also see the video with examples (embedded below) or on YouTube: 

youtu.be/WRdr1g_Ctos

 

video, narration, beats by Mark M. Hancock / © DFWmark.com; photos by Mark M. Hancock
 / © DFWmark.com, The Beaumont Enterprise or The Dallas Morning News

If you find the "Quick Tips" version to be visual hot sauce, please watch "Savory Tips to Improve Photos." It's the same presentation with more time to savor each image.

Basics:
Read equipment manuals three times.
Have the right equipment for the job.
Know the difference between nouns and verbs.
Pre-consider potential visual problems and solutions.

Photo basics (see below for specifics) 
Fill the frame.
Have sharp focus.
Get the right exposure.
Time the images.

Fill the frame:
Get close.
Use long lens.
Crop in camera.
Get wide.
Back away when necessary.

Focus:
Stabilize the camera.
Focus on lead eye.
Adjust plane of focus / angle.
Use depth of field.
Adjust focal length for available light.
When focusing manually, use one finger.
Zone focus.

Exposure:
Zone V.
Hand meter the area.
Use alternative meter techniques: Sunny 16, palm, grass.
Understand the dynamic range.

Timing:
Have patience.
Look for repeated action patterns.
Anticipate the action.
Shoot at apex.
Shoot before collision - wind through reaction.
Get reflective shots (quiet moments)
Seek "timeless" images.
Time of day.

Composition:
Shoot horizontals and verticals.
Start with a clean background.
Have dark corners.
Place subject in background.
Use subject and foreground to cover unwanted elements.
Leave leading space.
Use Rule of Thirds/Fifths.
Build a strong skeletal structure.
Frame items within other items.
Avoid tangents.
Have clean edges.
Lead eyes with light and focus.
Layer the image.
Employ leading lines.
Employ repetition of pattern.
Block corners.
Juxtaposition (harmony / irony)

Where to crop:
Avoid cropping joints.
Contain subject within rectangle (Golden Ratio).
Avoid lights, reflections and voids.
Frame arcs and lines.

Before shooting:
Research stories - find those with emotional elements.
Verify location, access.
Double-check equipment.
Have business cards, pencil and notepad.
Refuse access contracts.

Upon arrival:
Arrive early. Stay late.
Shoot signs and rosters. Collect paperwork. Shoot name tags and numbers.
Shoot basic package: scene, normal, tight
Shoot story: lede, transitions, kicker, emotion.
Get cutline information (5W & H). Get sound if possible.


Selecting subjects:
Hunting techniques: shadows, oblique angle, concealment, pre-compose, pre-focus
Emotion
Activity
Color
Sound
Use attention span limitations.

Goals:
Tell the story.
Get main subjects.
Get emotion.
Shoot 100-frame minimum.
Use each lens.
Shoot each angle (left, right, high, low).
Shoot reflection / refraction.
Shoot silhouette / isolation.
Shoot blur.

Before leaving:
Understand the story.
Be able to tell the story in one frame, three frames, five frames, 20 frames.
Have all cutline information.
Have 100+ images.
Count equipment.

Advanced:
Find new word.
Make unique (rare) images: access, subject, news value, combination.
Multi layers
Multi meaning

Artificial light:
Use flash whenever it's helpful (no light, too slow).
Use flash from 10 a.m. to 4 p.m. outdoors (fill light).
Get flash off the camera.
Understand what causes red-eye.
Try to keep flash angles from 45 to 90 degrees.
Diffuse light.
Color balance artificial light.
Learn to light large areas.
Use multiple lights to add depth.
Be ready to manually calculate exposure (guide number).
Understand inverse square law of light.
Speed techniques (stop action).
Light painting with mixed light and flash (holiday lights, fireworks, lightning).
Increase depth of field with artificial light.

I’ve Got Your Six!

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

#DFWmark #REALTOR #InformationOfValue #IOV #photo #photojournalism #photography #checklist #QuickTips #lesson

Open House in Little Elm on Saturday

Open House
Saturday, July 16, 2022
From 2 p.m. to 4 p.m.
200 Willet Ct., Little Elm 75068
Offered at $587,000
MLS# 20104585

This 2,953 sq. ft. home in Paloma Creek of Little Elm has 4 bedrooms, 3 and a half baths, office, game room, 2 bonus rooms and a 3-car garage.

Recent upgrades in this open-concept gem by Highland Homes include hardwood floors throughout the entry level living areas and custom handcrafted shelves in the home office. The formal dining room and office are in the front of the house. Laundry / mud room includes plenty of cabinets and sink. Kitchen has stone countertops, an island with sink and stainless-steel appliances. The primary suite is in the rear of the home. It features dual sinks, garden tub, separate shower and a walk-in closet.

Large game room is upstairs with its own private bed and bath. Covered patio opens up to an oversized backyard with lots of room. Property is more than a quarter acre at the end of a cul de sac within the Braswell High attendance zone of the Denton ISD.

I’ve Got Your Six!

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

#DFWmark #REALTOR #OpenHouse #LittleElm #DentonCounty #PalomaCreek #BraswellHigh #HighlandHomes #house #home

Open House in Melissa on Saturday

Open House - New to Market
Saturday, July 9, 2022
From 2 p.m. to 4 p.m.
4019 Mockingbird Ln., Melissa
Offered at $435,000

This 1,938 sq. ft. home has 3 bedrooms, 2 and a half baths, office, and a covered patio in the Magnolia Ridge subdivision of Melissa.

Built in 2021, the single-level house is ideal for anyone who needs a bigger, better or newer home. The east-facing house is clean and move-in ready. The open concept home has a gourmet kitchen with stainless-steel appliances and gas cooktop.

The large kitchen island has an upgraded granite countertop and sink with a breakfast bar and white cabinets. The roomy and secluded primary bedroom leads to the primary bath, which has modern fixtures, dual vanities with a granite countertop, sliding-glass walk-in shower with accent tiles and a walk-in closet.

House also features two secondary bedrooms, a bath, an office to work from home, half-bath with pedestal sink, and covered back patio to watch the sun set.

I’ve Got Your Six!

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

#DFWmark #OpenHouse #Melissa #CollinCounty #MelissaISD #modern #SmallTown #EastFacing #house #home

LUX Market Watch for June 2022

The luxury market saw Active Listings and Active Option Contract increase this month while Pending and Closed properties decreased. After two months with more new listings than closed properties, it’s safe to say the luxury market has shifted to match the main North Texas market.

The highest listed price on the MLS remains $43 million for an exquisite 6 bed, 8.3 bath estate with a 10-car garage on 1.84 acres in University Park. The highest closed property was listed at $10.375 million for a 6 bed, 6.2 bath with a 3-car garage and .53 acres in Highland Park.

Mortgage rates shot up almost an entire percentage point for an average 30-year fixed rate during June, but suddenly dropped on July 1. Since we have inflation during a recession, both will tug at the financial markets. Expect volatile mortgage rates for the near future.

Also prepare for luxury properties to sit more days on market and offers to be closer to or below the listed price. This is a result of inflation, recession, gasoline prices, interest rates and ongoing global unrest.

Properly priced premium properties promote promptness. The old adage still applies, “If you sleep on it, you may not sleep in it.” When a buyer finds a unicorn, they should offer what it is worth to them immediately.

There’s still a historic shortage of houses. The short-term economic factors such as interest rates can temper price increases, but it doesn’t resolve the underlying supply and demand. People need to buy and sell homes in all markets. The luxury market is not different when it comes to basic capitalism.

There are currently 44 Active luxury lease properties in North Texas with list prices of $10,000 or more per month. The highest listing price for a lease is a 6 bed, 5.2 bath with a 6-car garage and pool in Flower Mound for $30,000 monthly. There will be a rare open house at this lease property on Saturday before my open house in Plano. See both and tell me how the estate felt.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #luxury #Lux #RegularMarket #HousingShortage #volatility #MarketShift #SupplyAndDemand