Friday, July 16, 2021

Which Screw To Use?


The goal of a screw is to pull two materials together and fasten them in place using compression. Screws can be removed later with minimal damage compared to glue, rivets or welding. Screws also allow wood to expand and contract with humidity.

  Screws are harder and more rigid than most nails. They are resistant to “draw out” or being pulled out of a material. The head presses down while the threads pull upward. Screws can be shorter than nails for equal structural integrity. Screws are more accurate and easier to install in volume than before and have become more important in various construction projects since the 1970s.

Components of a screw
 
 Head: the top of the screw. It determines where the screw will stop moving forward into the construction material. There are two components: shape and drive type.
  Shank: the main body of the screw.
  Threads: wrap around the shank and move the screw forward. Screws can be partially threaded or fully threaded.
  Tip: pointed tips to go into wood or metal, self-drilling tips have a split or bit tip, machine screws are squared off with no point.


Head types

  Flat head: has a flat top to be flush with the material surface.
  Pan head or “raised head”: sit on top of the material. Used when affixing metal or plastic to other materials. Includes truss, round, hex, button, capped and integrated washer.
  Trim head: very small diameter head used for finishing work with lighter materials.

Shank

  The diameter of a screw is indicated by a number such as #00, #6 or #10. This number is the first number on the box. It is often followed by thread count (pitch angle) and length.
  The screw gauge is a measurement of the outside thread diameter on the shank. It is an industry agreed upon scale rather than tied to any specific measurement system (metric or imperial).
  A flat head screw length is measured from the top of the head to the tip for countersink purposes. All other screws are measured from the bottom of the head to the tip.


A variety of screws include (from left to right) 
zinc electroplated slotted machine , carbon steel
flat head machine screw, Galvanized hex head
lag screw/bolt, and bugle head drywall screw.
Types of thread

  Threads are normally 24 or 32 per inch. This is important when working with machine screws that may need a matching nut. Some screws are simply labeled as coarse or fine thread. Fine threads are for hardwoods and coarse threads are for softwoods and materials (sheetrock).

  High thread count machine screws have more surface area than low thread count screws. While they take longer to install and remove, they hold better for the same depth. 

Tips

  Square: designed to be used with tapped (threaded) holes or with a nut. These are machine screws.
  Pointed: pierces the material to start.
  Self-starting: is cut or shaped like a drill bit to be self-tapping. Depending on the style and hardness, they can drill through an existing metal screw to repair a previous mistake.

Types of screws

  The materials being held together often dictates the best kind of screw for the job. Meanwhile the screw composition is determined by the environment. The driver style can be a preference but can come with added expense.

  Wood: mostly flathead with a semi-threaded shank and pointed tip. Most are Phillips head in the U.S.
  Drywall: flathead with bugle shape head bottom to avoid tearing drywall paper. They have a fully threaded shank and pointed tip. They are good for rough work. These are inexpensive and have a coarse thread to go into most material quickly and easily. They have thinner shanks than wood screws. They are typically coated in black paint. They are brittle and meant for soft woods. They are not structural because they break and corrode easily.
  Multi-purpose (production): made with hardened steel. They have a flat head with a beveled head bottom. They also have a self-drilling point, are semi-threaded and have recessed specialized driver style. Often eliminates the need for pilot holes. These cost more but save time and frustration.
  Deck: flathead with bugle shape head bottom. They have a fully threaded shank and pointed tip. They have a corrosion resistant coating.
  Pocket: pan head with a semi-shank and self-drilling tip. These are designed to go into recessed areas and avoid splitting wood (fine furniture).
  Machine: pan or flat head with fully threaded shank and no point. They are designed to go into tapped (threaded) or predrilled holes with a nut. Sold in threads per inch.
  Sheet metal: tiny screws with a pan head, fully threaded shank and sharp point intended to pierce metal.
  Masonry (cement): These require a pilot hole but can bite into concrete to pull materials tight. They are necessarily hardened, and a drill driver will break them off at moderate to high torque.
  Lag screw/bolt: robust screws intended to connect heavy lumber to other materials and bear an intense load. Lag screws require a drilled hole and only have hex heads to apply enough torque.
  Carriage bolt: used to fasten metal to wood or metal to metal. It has a shallow, mushroom top with a square section on the bottom of the head before the shank to make the bolt self-locking when seated into a squared recess. Often used to affix iron plates to wooden beams or to bare timber itself.

Screw Composition

  In addition to purpose and strength, the environment around the screw determines the best screw choice. Is the screw structural? Must it bear a heavy load? Will it be in salt water?

  Carbon steel: most common.
  Stainless steel: designed to avoid corrosion. Best for use near water – especially salt water. Very expensive and not as strong as deck screws.
  Zinc plated: most used fastener material (machine screws and bolts).
  Galvanized: alloyed steel coated to resist regular water corrosion.
  Brass: does not rust, but it will corrode or tarnish if not protected with lacquer. It has no magnetism.
However, they rust as easily as steel or drywall screws when exposed to water.
  Ceramic coating: exterior grade and is the second best to stainless steel for corrosion resistance.
  Silicon bronze: for saltwater applications. No magnetism.
  Titanium: have high strength-to-weight ratios and corrosion resistance. Titanium metal exhibits higher tensile strength at increased temperatures than many other materials. Mostly used in aerospace, military and commercial maritime applications due to expense.
  Grade A (yellow electroplated zinc): like drywall screws but treated to resist the chemicals used in lumber products.
  Exterior rated: resist caustic and corrosive chemicals used in pressure-treated lumber production.

Driver Styles (heads)

  Slotted: the original, single slot screw turned by a flathead screwdriver. Be careful with torque because these are designed to strip to prevent overtightening.
  Phillips: became popular in the 1930s and are an improvement from the slotted screw head. These are intended to use less torque to possibly be removed at some point. They are also designed to “cam-out” (slip the tool out of head slots) to prevent overtightening.
  Star Drive (Torx): uses a recessed 6-pointed asterisk shape driver head. It is the preferred driver by most serious craftworkers. It ensures the driver stays connected without “cam-out.” Additionally, this style accommodates high torque. First used in an Apple computer to prevent average person from opening the machine.
  Hex: same diameter and similar to star drive. The contact with the screw is at a greater radius, which allows more torque for the same force. However, some of the force is applied outward, which can damage both the tool and the screw.
  Square Recess also called Robertson Screws: more common in Canada. Was an improvement over Phillips heads but not as good as star drives and has lost popularity in construction. This style of screw saved Ford about two hours of production time on each Model-T.
  Other specialty heads include: Trimmit, Frearson, Pozidriv, Clutch, Hex, 12 Point, Hex Socket, Spanner, One Way, and Spline Socket.

Additional items

  Washers: A washer is placed around a screw shaft between the material and the screw head or nut. The main purpose of washers is to increase the surface area of downward pressure or distribute the load over a larger area. The various kinds of washers include flat, fender, finishing, split lock, external tooth lock, internal tooth lock, square, dock and ogee.
  Nuts: Nuts are most associated with machine screws and bolts. The nut applies compression pressure to the tip end of a screw or bolt shaft. They are precisely tapped pieces of metal that are designed to tighten onto a screw or bolt. They can allow the shaft to pass through or be capped to limit or cover the shaft.
  Types of nuts include wing, cap, acorn, hex, heavy hex, nylon insert lock, jam, nylon insert jam lock, flange, tee, square, prevailing torque lock, coupling, slotted, castle, and K-Lock or Kep.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212 (call or text)
markhancockrealty@gmail.com
DFWmark.com

#DFWmark #REALTOR #screw #bolt #tips #InformationOfValue #construction #HomeImprovement #DIY #tools

Friday, July 9, 2021

Market Watch - 9 July 2021


Since last week, the housing markets lost much steam. All categories decreased in the residential market. The Lease market was flat with significantly fewer Leased Properties. A total of three more lease properties came onto the market than left in the last seven days. There simply aren’t enough quality leases remaining for an area with 6.4 million people.

According to Macrotrends, DFW’s population grew by an estimated 96,000 since 2020. It’s a 1.52% increase since last year or an average of 8,000 new residents per month.
After hitting record highs in May, lumber futures had a record-smashing dive in June – down 40% in one month. This still hasn’t hit the retail market but has started to appear as builder activity. Meanwhile, the national unemployment rate dropped to 5.9% in July 2021 from 10.2% in July 2020.

The expectation is that lumber and other building materials will become more reasonably priced and abundant as laborers return to work. This shift may manifest as more new home construction.

According to TAMU Real Estate Research Center, 4,515 new home starts were recorded for DFW in April – the most recent report.

All this information means it’s time to sell underperforming or oversized properties. I can help get it sold quickly and smoothly. I also know of available new homes that don’t require “best and highest” bidding. Please call, text or email.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #SellersMarket #LumberCorrection #FlatLeaseMarket #PopulationGrowth #BackToWork #ConstructionStarts #HomeStarts

Tuesday, July 6, 2021

Testimonial - Celina

I'm deeply honored that you chose me to help with your journey. You selected a great builder, a great community, the perfect first home and handled it all flawlessly!
I'm also thankful for the trust you placed in me to find a home for your friends who are now only minutes away from you and the friends that are yet to come. Congratulations again, and welcome home!

"Words can’t even begin to define how happy I am with the performance of Mark in my first home buying experience. Buying a first home is not easy and even less easy when it is done virtually. Mark spent countless hours on the phone with me explaining the market to me and elaborating on important key terminology I was not familiar with. Mark went to various communities virtually to show me around. Every time I spoke to Mark, it felt like I was his number one priority. His main goal was to make sure I was happy and loved the home I would be moving into. Mark walked me through the entire process, updating me on critical dates and sometimes being a listening ear when stress got the best of me. There is no other realtor I would want to be a part of my first home buying experience. I have already referred a friend to Mark and will continue referring all those who want to come to the Dallas market.
#bestrealtorever"
Kasia, Celina

I’ve Got Your Six!

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

#DFWmark #REALTOR #RealSatisfied #Celina #CollinCounty #review #testimonial #NewBuild #HighlandHomes #FirstTimeBuyer

Monday, July 5, 2021

Market Watch - 2 July 2021


Since last week, the markets moved back to inverted territory. New Listings decreased. Pending Properties were flat while Sold and Under Contract properties increased.

The Lease market made some gains with a modest amount of New Listings while Pending dropped significantly and Leased Properties outpaced all gains. The net effect is still fewer lease houses available.

When The White House announced an additional month for the eviction and foreclosure moratoriums, it threw the market back into inverted status. While not stopping the moratorium, the Supreme Court effectively blocked another extension.

Anecdotally, speculative construction has started in parts of the Metroplex. Extra stimulus money was removed from unemployment benefits, which helped reduce unemployment numbers. Meanwhile, lumber and other building materials have become more readily available for builders. If you want a reasonably priced, new-built home, please call, text or email me. 

According to Markets in a Minute, “The FHFA reported a monthly home price increase of 1.8% and year-over-year growth of 15.7% for April. Both Figures broke previous records.” They also stated that mortgage applications have dropped as inventory remains tight.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #HousingShortage #MoratoriumExtended #InvertedMarket #UnemploymentEnds #BackToWork #ConstructionStarts #LumberAvailable

Sunday, June 27, 2021

Market Watch - 25 June 2021


Since last week, New Listings increased, Properties Under Contract were flat while Pending and Sold properties decreased. This is the second week in a row that more houses came onto the market than left. The ratio has been upside down since 4 Dec. 2020 and appears to be flattening.

Meanwhile, all Lease indicators decreased because the market is dangerously low on lease properties. There are about a 1,000 lease houses in North Texas. Of those, 14 are priced at more than $10,000 or more per month.

The eviction and foreclosure moratoriums was to end on June 30 and was extended to July 31. A surge of evictions is possible between Aug 1 and 15. Hopefully, these activities will flatten and normalize the lease market while it provides some additional houses on the residential market.

Lumber futures appear to have peaked in May and have been on a sharp plunge - 41% from May to July - according to the National Association of REALTORS®. The consumer market hasn’t seen the relief from the change yet, but builders are getting busy again. Some new homes are starting to trickle into the market. If you’re looking to buy a new-build home in the $360K range for a 5-bed, 3-bath in Collin County, let’s talk.

If you’re ready to sell your house, the window is about to close for “unicorn” prices. Please call, text or email if you’re ready to sell now. I can get a show-ready house onto the market in one day.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #HousingShortage #SellNow #SellersMarket #CorrectionStart #flattening #moratorium #evictions

Saturday, June 19, 2021

Market Watch - 18 June 2021


Since last week, New Listings as well as Properties Pending and Sold have increased while Properties Under Contract decreased. Meanwhile, all Lease indicators increased.

Please see the trend chart (above). More houses came onto the market than left. This is the first week where the residential market has neared the correct proportions since 4 Dec. 2020.

The eviction and foreclosure moratoriums end on June 30. The expectation was for the market to flatten sometime after June 15, which may have started. This is most likely a result of pending evictions and buyers waiting for more inventory to hit an overheated market.  

While there have been evictions in Texas, a surge is still likely between July 1 and 15. Hopefully, this will flatten and normalize the lease market while it provides some additional houses on the residential market.
 
Homeowners facing foreclosure can extend up to six months to sell their property after July 1. If they have equity, they should take advantage of the remaining summer sales premiums. Those will probably end when school starts.

If you’re ready to sell your house, there’s a tiny window remaining for “unicorn” prices. Please call, text or email if you’re ready to sell now. I can get a show-ready house onto the market in one day.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #HousingShortage #SellNow #SellersMarket #CorrectionStart #flattening #moratorium #evictions

Wednesday, June 16, 2021

Summer Fruit Tips

Summer starts this week, and many fruits are in season. This month’s Information Of Value (IOV) has some suggestions for how to select fruit at its peak.
Also, I’ve assembled all IOV posts into a convenient, no-cost book. All future IOV updates will be added to the book. You can view, bookmark, download or share it with friends from my Google Drive: LINK.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212 (call or text)
markhancockrealty@gmail.com
DFWmark.com


#DFWmark #REALTOR #summer #fruit #tips #InformationOfValue #vegetarian #vegan #NewBook #FreeBook

Friday, June 11, 2021

Market Watch - 11 June 2021


Since last week, New Listings and Properties Sold have decreased while Properties Under Contract and Pending both increased. Meanwhile, Lease Listings and Properties Leased both fell are Pending Leases increased.

Lease options remain extremely tight. There are currently 1,212 Active single-family lease listings in the entire North Texas area – remember that 752 were leased last week. Of all North Texas leases, 40 are priced at more than $5,000 per month.


Please call, text or email me NOW to sell or lease your property for top dollar before the eviction and foreclosure moratoriums end on June 30. Because I’m also an award-winning professional photographer and notary, I can have a show-ready house on the MLS and marketed to more than 1,000 brand-name websites in one day.

I’ve Got Your Six!
Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com


#DFWmark #REALTOR #MarketWatch #HousingShortage #SellNow #SellersMarket #LeaseShortage #HousingCrisis #landlord #LeaseListing

Monday, June 7, 2021

Information of Value Book

Since you enjoy the Information of Value (IOV) sheets that I create and post monthly, you’ve probably wanted them all in one place. I’ve Got Your Six!

I assembled and updated a book of all the IOVs that I’ve produced since March 2020. The book will be updated with each new IOV on my Google Drive. Because it’s a PDF file, it can be printed at home in full size without additional rasterization. Also, all the websites mentioned are hyperlinked in the PDF.

Bookmark this address: link.

When you need access to information such as what to do after severe weather hits or where to take visitors for fun in DFW, it’s all in one place at no cost to you!

I’ve Got Your Six!

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


#DFWmark #REALTOR #UsefulInfo #InformationOfValue #IOV #EmergencyInfo #safety #home #fun #Frisco

Market Watch - 5 June 2021



I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #HousingShortage #MoreListings #MoreOptions #SellNow #SellersMarket #LeaseShortage #HousingCrisis

Friday, May 28, 2021

Celina Client Testimonial (Prosper ISD)

It was my honor to help my clients find their dream home!

“The ultimate real-estate professional. He will help you get your dream home. He will work with you and help you understand the entire process. I don’t know if I could have bought this house without him.”

I’ve Got Your Six!

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

#DFWmark #REALTOR #RealSatisfied #Celina #ProsperISD #CollinCounty #review #testimonial #BuyerAgent #IGY6

Market Watch - 28 May 2021





Since last week, New Listings and Under Contract have decreased while Pending increased and Sold Properties were flat. Meanwhile, Lease Listings and Pending Leases are flat while written Leases are down largely due to lack of inventory.

The single-family resale average Days On
Market is at a historic 5-day mark. Properly 
marketed houses are going fast!

I’ve included a Days On Market (DOM) trend for single-family resale houses from the last three years. DFW sells faster than many other areas of the country, but this week is historic fast. Most properly marketed houses are currently selling over asking price in two or fewer days.

The entire North Texas MLS has an average DOM of 5 days. This average includes 713 houses priced over $1 million and one home in Arlington that’s been on the market since 16 Oct. 2014 (2,280 DOM).

If you need to lease, be ready to move fast! There are currently 934 Active single-family lease listings in the entire North Texas area. Of those, 30 are priced at more than $5,000 per month. The highest is stunning at $49,000 per month.

If you plan to sell a property, now is the PERFECT time. Buyers (and frustrated renters) are prepared to pay far more than reasonable and well over asking with concessions that were previously impossible to get. Please call, text or email me NOW to sell your property for top dollar before the eviction and foreclosure moratoriums end on June 30.

Because I’m also an award-winning professional photographer and notary, I can have a show-ready house on the MLS and marketed to more than 1,000 brand-name websites in one day.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #HousingShortage #DaysOnMarket #MarketTrend #SellNow #SellersMarket #LeaseShortage #HousingCrisis

Sunday, May 23, 2021

Market Watch - 21 May 2021


Since last week New Listings, Properties Under Contract and Properties Sold have increased while Pending Properties are flat. 

Meanwhile, Lease Listings and Pending Leases are flat while written Leases are up significantly. 

 The DFW Metroplex population is about 6.4 million people. At this moment, there are currently 2,115 lease listings in the entire North Texas area. Of those, 966 are single family houses. Of those, 20 are priced at more than $6,900 per month. The highest is $49,000 per month.

I’ve included a Lease Market Trend since March (left). It’s inverted by hundreds of lease properties per week. To be clear, more properties should enter the market than leave each week. Likewise, more properties should be pending (waiting to move in) than leased.

After months of upside-down markets, there’s so little lease inventory that houses have applications and are pending within hours of entering the market. Buyers who think they’ll lease rather than purchase are seriously disappointed to find fewer options and MUCH more competition for available lease properties. In many ways, it’s easier to buy than lease now.

The lease market is likely to remain difficult or possibly get worse through the end of the CDC’s eviction moratorium. After the moratorium ends, it’s possible for the lease market to remain tight while landlords quickly liquidate underperforming properties for top dollar.

If you plan to sell a quality property, now is the PERFECT time. Buyers (and frustrated renters) are prepared to pay far more than reasonable and well over asking with concessions that were previously impossible to get. After the moratoriums, expect “investor grade” properties to flood the market.


For comparison, the graph to the left is a five-year trend of houses for sale.

When unsold numbers are added together, there were more than 25,000 single-family houses on the market each day in North Texas in the summer of 2019. In March of 2021, it was below 10,000. There are still dangerously few homes available for sale or lease.

Please call, text or email me NOW to sell your property for top dollar before waves of rental properties hit the market for liquidation and flatten the market price.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #LeaseShortage #MortgageMoratorium #EvictionMoratorium #SellNow #SellersMarket #HousingShortage #HousingCrisis 

Monday, May 17, 2021

Severe Weather Damage Help

Spring in Tornado Alley always requires caution and weather awareness. Most people know how to stay safe but haven’t considered what to do after disaster hits. Below are the bullet points to keep handy. I’ve written a detailed post about these topics earlier on this blog at this link.

SAFETY FIRST!
• Find a low location with protection. Ideally it is a designated safe area with reinforced cement or cinder-block walls. At the minimum, it should be on the ground floor and surrounded by interior walls with no windows or glass doors. Have battery-powered radios and flashlights.
• During the storm, stay away from windows, broken glass, and loose objects such as firewood or lumber.
• Account for everyone – including pets.
• Protect yourself. During wind damage events, nails and other sharp objects are often scattered throughout neighborhoods. Wear proper shoes, work gloves, and step carefully to avoid puncture wounds. Wear long pants to avoid insulation and chemical burns.

IMMEDIATELY AFTER THE STORM
• Make photos of the cause (hail, flood, etc.) and effects (actual damage) of the weather event.
• Depending on damage, turn off all power at the main breaker and cut off water. Ask for help with gas leaks.
• Let someone outside of the disaster area know you are safe or your immediate emergency needs.
• Keep all insurance and warranty information handy and inside waterproof/fireproof bags.
• Collect short-term belongings: all personal identification, phone, small valuables, medicine, glasses, clothes for a few days, credit cards, insurance and warranty documents, pet food, tax and income documents (for insurance claims), etc...
• Secure waterproof tarps over windows and holes in the structure to prevent additional damage.

WHEN IT’S SAFE
• Photograph both the interior and exterior.
• Contact your insurance agent. Get in line fast because there will be plenty of claims.
• Contact the Red Cross for overnight shelter assistance.
• Photograph refrigerator/freezer contents. Most insurance policies pay up to $500 for spoiled food.
• Hire competent contractors for short-term patches.
• If the house is not in an emergency condition, contact reliable vendors/contractors quickly. I’ve collected many reliable vendors on DFWreferral.blogspot.com.
• Determine the deductible vs. out-of-pocket repair costs. It may cost less to absorb repair expenses.
• If repair costs are significant, file a claim with the insurance company. Arrange for contractors’ representative to be there while the appraiser is on property.
• Keep all receipts: preventative measures, actual repairs, hotels, fuel and food away from the house.
• Call the car insurance company if different than house.
• Make photos of all car damage.

SETTLING WITH INSURANCE
• Fences should be covered if there’s a wind damage policy but expect a depreciation deduction.
• Insurance companies have five business days to pay the claim once you agree to a settlement amount.
• Mortgage companies have 10 business days to contact homeowners after they get the insurance check.
• For additional specific questions about insurance coverage, please read “FAQ: Homeowners Insurance and Disaster Claims” (t.ly/eckh) by the Texas Department of Insurance or call 800-252-3439.
• File for FEMA aid. FEMA may cover items not covered by traditional homeowners’ insurance.
• If the final check is less than expected or less than required, don’t sign it. Some insurance companies consider the claim “settled” once the check is endorsed and deposited.

I’ve Got Your Six!

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


#DFWmark #REALTOR #safety #SevereWeather #insurance #tornado #flood #storms #WeatherDamage #help

Friday, May 14, 2021

Market Watch - 14 May 2021


Since last week New Listings and Properties Sold have decreased, Properties Under Contract are flat and Pending Properties are flat. Meanwhile, Lease Listings and written Leases are down while Pending Leases are up slightly.
If you plan to sell a quality property, now is the PERFECT time. Buyers (and frustrated renters) are prepared to pay more than reasonable and well over asking with concessions that were previously impossible to get. After the moratoriums, expect “investor grade” properties to flood the market.

Please call, text or email me NOW to sell your property for top dollar before a wave of rental properties hit the market for liquidation.
I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellNow #SellersMarket #HousingShortage #HousingCrisis #LeaseShortage #MortgageMoratorium #EvictionMoratorium

Wednesday, May 12, 2021

DFWmark Index

(Photo Mark M. Hancock / DFWmark.com)
This is the index to the DFWmark blog. It's the fastest
way to locate the real estate content you need. Please
bookmark this page.
Links to information on specific subjects are sorted by broader topics on this page. Please bookmark this page if you're a frequent visitor. All major posts are added to this list. If this is your first visit, please see the Welcome post.
Free Books by Mark (info about and links to all DFWmark books)
Welcome to Texas (information about Texas and how to be Texan Proud)
House Seller Guide (all details plus sample Texas promulgated forms)
Home Buyer Guide (preowned and new houses)
New Build Home Guide (for new construction only)
Information of Value (new information added monthly)
Mom's Cookbook (a gift from our family to yours)
Home Maintenance Guide (basic actions to maintain your home)

Market Information
Market Stats (detailed monthly information about selected counties and cities)
Market Watch (overall North Texas housing market periodic pulse updates)

General
FREE Interactive Home Selector
How to Read a CMA (Comparative Market Analysis)
Education (schools & scores)
Chambers of Commerce
Services (select contractors & vendors)
Pandemic Help

DFW Subdivisions
Information of Value (The Book: information added monthly)

Saturday, May 8, 2021

Market Watch - 7 May 2021

Since last week New Listings and Properties Sold have increased, Properties Under Contract are flat and Pending Properties have decreased. Meanwhile, Lease Listings and written Leases are up while Pending Leases are flat.

Let’s first celebrate that listings for both preowned and lease homes have increased. Let’s also congratulate the owners for the success of their sales and leases.

Now, let’s talk about the elephant in the room: there aren’t enough houses available. Preowned residential remains upside down by hundreds of properties each week while leases are at 110% leased ratio. Except for Snowvid-21, the market has been upside down since December.

On Wednesday, a judge struck down the CDC eviction and foreclosure moratoriums. However, until the action is fully repealed or otherwise deemed unenforceable, those houses remain off the market.

“The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not,” wrote U.S. District Judge for the District of Columbia Dabney Friedrich in the decision.

If you plan to sell, now is the PERFECT time. Buyers are prepared to pay more than reasonable and well over asking with concessions that were previously impossible to get.

The timetable and deadline may be sooner than expected. Please call, text or email me NOW to sell your property for top dollar before a wave of rental properties hit the market for liquidation.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellNow #SellersMarket #HousingShortage #HousingCrisis #LeaseShortage #MortgageMoratorium #EvictionMoratorium

Friday, April 30, 2021

Market Watch - 30 April 2021

Since last week New Listings and Properties Under Contract are flat while Pending properties went down and Sold properties increased again.

Meanwhile, Lease Listings, Pending and written Leases are all flat while inventory is low.

Both residential resale and lease markets remain upside down by hundreds of properties each week. Fewer houses enter the market as more homes leave which means sellers are at a distinct advantage when it comes to condition, location and timing of sales. These advantages will evaporate when the CAREs Act eviction and foreclosure moratoriums are lifted.

Evictions and foreclosures should resume on 1 July 2021 and begin to release houses for sale and lease.

If you plan to sell, now is the perfect time. Buyers are prepared to pay well over asking with concessions that were previously impossible to get. However, there’s a deadline. Please call, text or email me NOW to sell your property for top dollar before a glut of rental properties hit the market for liquidation.

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #SellNow #SellersMarket #HousingShortage #HousingCrisis #LeaseShortage #MortgageMoratorium #EvictionMoratorium

Thursday, April 29, 2021

Severe Weather Damage Help

William L. Snyder II, owner of B&B Enterprises,
sweeps the sidewalk outside his auto business
after Hurricane Rita. He owns several businesses
in Orange, Texas and was not fully insured.
Mark M. Hancock / The Beaumont Enterprise



• Safety First!
Find a low location with protection. Ideally it is a designated safe area with reinforced cement or cinder-block walls. At the minimum, it should be on the ground floor and surrounded by interior walls with no windows or glass doors.
During the storm, stay away from windows, broken glass, loose objects such as firewood or lumber.

• Account for everyone in the household – including all pets.

• Protect yourself. During wind damage events, nails and other sharp objects are often scattered throughout neighborhoods. Wear proper shoes, work gloves, and step carefully to avoid puncture wounds. Wear long pants to avoid insulation and chemical burns.

• Make photos of the cause (hail, flood, etc.) and effects (actual damage) of the weather event. If it was hail damage, try to locate a few larger hail stones. All cell phones and digital cameras automatically record the date the photo was made. This will be important for insurance claims.

Mark M. Hancock / The Beaumont Enterprise

• Depending on damage, turn off all power at the main breaker. If there is a plumbing break, turn off the water supply to the house. Ask for help with gas leaks.

• Let someone outside of the disaster area know your immediate emergency needs. Let them know you are safe or explain what specific help you need. Communications are often spotty after a disaster. Contact one person who can let others know your status and how to help.


• Hopefully, all insurance and warranty information documents are in one location inside waterproof/fireproof bags. Collect those and place them somewhere safe.

• Collect short-term belongings: all personal identification, small valuables, medicine, glasses, clothes for a few days, credit cards, insurance and warranty documents, pet food, tax and income documents (for insurance claims), etc...

• Secure waterproof tarps over windows and holes in the structure to prevent additional water and wind damage. If no tarps are available, use plastic painter drop cloths or tape trash bags over the holes if it’s the only option. Only make temporary repairs. Don’t make permanent repairs until after the insurance adjusters have seen the damage. Make photos of your damage prevention attempts.

Anita Murchison, owner of The Frame & Art Co. in Bridge
City (right) and her daughter Kim Long (left) dig through the
wreckage at the shop in Bridge City after Hurricane Rita tore
through Southeast Texas in 2005.
Mark M. Hancock / The Beaumont Enterprise
• When it is safe, photograph both the interior and exterior. Include photos of damage to outside objects such as air conditioner units, roof, fences, siding, autos, damaged lawn furniture, paint damage, destroyed shrubs and other plants, pool damage, cement damage (driveways, decks, etc.) and more.

• Contact your insurance agent. Get in line fast because there will be plenty of claims.

• Contact the Red Cross for overnight shelter assistance. They have funds and prearrangements with hotels for this specific need.
Insurance companies often will not pay for hotel rooms if the property is habitable but doesn’t have electricity or water. Insurance policies often will pay hotel fees if the house is inhabitable but pays on receipt at settlement rather than in advance. Call your agent for specifics.

Chris Grantham with A-1 Tree Service of Memphis, Tenn.
eats a beef enchilada MRE at a campground in Vidor in 2005.
Mark M. Hancock / The Beaumont Enterprise
• Make a photo of the refrigerator and freezer contents. Most residential insurance policies pay up to $500 or more for spoiled food resulting from power outages. Often, there is not a deductible if this is the only claim.

• If the damage was too large for you to fix, hire a competent contractor for short term “emergent” situations. Fraud is common after natural disasters. Don’t hire “storm chasers” or anyone with a truck who knocks on your door. Here are some reliable construction options: t.ly/9VWL

• If the house is not in an emergency condition, contact reliable vendors quickly to be at the front of the line. I've collected a list of reliable vendors on one of my blogs at DFWreferral.blogspot.com.
Here are some roofers (t.ly/xOZ8), window repair professionals (t.ly/pokz) and general construction contractors (t.ly/9VWL). Most reputable roofing companies provide free inspections and estimates.
If there is flooding or fire damage, hire restoration specialist quickly (t.ly/XjhQ). If trees have fallen, hire a tree service that includes haul away (t.ly/UfVN). However, the haul away often isn’t covered by the insurance company.

• Determine the deductible. An insurance claim often has a high deductible and will raise the insurance rate on a home. If the repair cost is less than the deductible and insurance difference for a year, it may be best to absorb the repair cost.

A mobile home remains crushed under a tree after
Hurricane Rita hit in Vidor.
Mark M. Hancock / The Beaumont Enterprise

• If the repair cost is significant, file a claim with the insurance company. In Texas, the insurance company must acknowledge a claim within 15 business days of receiving the claim. They must then accept or reject the claim within 15 business more days (about 38-day maximum time from initial claim).
Arrange for any chosen contractors to have a representative there while the appraiser is on property. This ensures they come to an agreement on the expected cost to get your property back up to standard at current market expenses.

• Keep all receipts. Primarily, this is preventative measures and actual repairs, but this sometimes includes any hotels, fuel and food away from the house. It’s better to have the receipts and not need them.

• Call the car insurance company if it is different than the house.

A sport utility vehicle with Louisiana license plates remains
 crushed under a sign in Beaumont after Hurricane Rita.
Mark M. Hancock / The Beaumont Enterprise

• Make photos of all car damage – yes, each scratch, chipped window and hail strike that needs to be repaired.

• If the homeowner has a wind damage policy, fences should be covered. However, expect the company to deduct depreciation.


• Once you agree to a settlement amount, the insurance company has five business days to pay the claim. If the house has a mortgage, the insurance company often sends the check to the mortgage company. The homeowner must then cooperate with the mortgage company to get the money released for repairs. The house must be repaired with the proceeds. Don’t attempt to sell a house with an insurance payout that was not completed. It will be far more expensive.

• The mortgage company has 10 business days to contact the homeowner after they get the insurance check. After the mortgage company’s requirements are met, they have 10 additional business days to send a check to the homeowner for the repairs.

• For additional specific questions about insurance coverage, please read “FAQ: Homeowners Insurance and Disaster Claims” (t.ly/eckh) by the Texas Department of Insurance or call 800-252-3439.

Crews pile tree debris on a stack at an airport in Beaumont.
Trees, limbs and other organic material disposal is an
environmental problem after natural disasters.
Mark M. Hancock / The Beaumont Enterprise

• File for FEMA aid. FEMA may cover items not covered by traditional homeowners, wind or flood insurance. If there is a significant loss, it’s worth a try.

• If the final check is less than expected or less than required, don’t sign it. Some insurance companies consider the claim “settled” once the check is endorsed and deposited.

I’ve Got Your Six!

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

#DFWmark #REALTOR #HailDamage #TornadoDamage #HomeInsurance #InsuranceClaim #SevereWeather #TornadoSeason #StormDamage #help

Friday, April 23, 2021

Market Watch - 23 April 2021


Since last week New Listings and Properties Under Contract have decreased while Pending and Sold properties have increased again.

Meanwhile, new Lease Listings and Leases have decreased while Pending lease properties had a modest improvement.
Both residential resale and lease markets remain upside down. The trend continues to show fewer houses enter the market as more homes leave while the eviction and foreclosure moratoriums are in place.

Unless the CARES Act moratorium on evictions and foreclosures is extended again, those actions should resume on 1 July 2021 and begin to free houses for sale and lease. To learn how the market got to this point and where it could go, please read my blog post from earlier this week (link).

I’ve Got Your Six!

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


#DFWmark #REALTOR #MarketWatch #HousingShortage #HousingCrisis #LeaseShortage #SellNow #MortgageMoratorium #EvictionMoratorium #SellersMarket

Welcome to the DFWmark Blog!

Welcome to the DFWmark Blog! This is a collection of content by Mark M. Hancock, a REALTOR with Keller Williams North County in Celina...