Chambers of Commerce

Alphabetical listing
A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

Suggest an addition

A
Back to top

Town of Addison Chamber of Commerc(see Metrocrest COC)

Town of Addison CVB
Contact: Alisha Holmberg, Tourism Coordinator
14681 Midway Rd., Ste. 200, Addison TX 75001
Phone:972-450-7079 or 1-800-ADDISON (233-4766)
E-mail: aholmberg@addisontx.gov
Web site: visitaddison.com

Allen Economic Development Corporation
900 West Bethany Drive, Suite 280, Allen, TX 75013
Phone:972-727-0250
Web site: allenedc.com

Greater Anna Chamber of Commerce
218 W. 4th St., Anna TX 75409
Phone:972-924-8533 or 800-758-0921
Web site: greaterannachamber.com

Arlington Chamber of Commerce
505 E. Border St., Arlington TX 76010
Phone: 817 275-2613 Metro 817 265-1911 ; fax 817 261-7389
E-mail: events@arlingtontx.com
Web site: arlingtontx.com

Arlington Convention & Visitors Bureau
1905 E. Randol Mill Rd., Arlington TX 76011
Phone: 800-433-5374
Web site: arlington.org

Azle Chamber of Commerce
404 W Main St, Azle, TX 76020
Phone: 817 444-1112; fax 817 444-1143
E-mail: info@azlechamber.com
Web site: azlechamber.com

B
Back to top

Bedford Economic Development/Tourism bureau
Phone: 817-952-2125
E-mail: byahne@ci.bedford.tx.us
Web site: bedfordeconomicdevelopment.com

Burleson Area Chamber of Commerce
P.O. Box 9; Burleson; TX 76097
Phone: 817-295-6121
E-mail: goodlife@burleson.org
E-mail: solomon@burleson.org
Web site: burlesonchamber.com

C
Back to top

Cedar Hill Economic Development
Phone: 972-291-5132
Web site: cedarhilledc.com

Celina Chamber of Commerce
Web site: www.celinachamber.org

Celina Economic Development Corporation
Web site: www.considercelina.com

City of Duncanville Convention & Visitors Bureau
Phone: 972-780-5090
Web site: duncanville.com

City of Garland Convention & Visitors Bureau
Phone: 972-205-2749
Web site: ci.garland.tx.us

City of North Richland Hills
Phone: 817-581-5534
Web site: ci.north-richland-hills.tx.us

City of Pantego
1614 S. Bowen Road; Pantego; Texas
Phone: 817-274-1381
Web site: www.townofpantego.com

City of Plano Convention & Visitors Bureau
Phone: 972-941-5843
Web site: planocvb.com

City of Roanoke
Phone: 817-491-2411
Web site: roanoketexas.com

Cleburne Chamber of Commerce
1511 W. Henderson St.; Cleburne; TX 76033
Phone: 817 645-2455 ; fax 817 641-3069
Web site: www.ci.cleburne.tx.us

Cleburne Chamber of Commerce
Phone: 817-645-2455
E-mail: info@cleburnechamber.com
Web site: cleburnechamber.com

Colleyville Chamber of Commerce
6700 Colleyville Blvd.; Colleyville; TX 76034
Phone: 817 488-7148 ; fax 817 488-4242
Web site: www.colleyvillechamber.org

Coppell Chamber of Commerce
500 S. Denton Tap Rd. #105; Coppell; TX 75019
Phone: 972 393-2829 ; fax 972 393-7485
Web site: www.ci.coppell.tx.us

Corsicana Chamber of Commerce
120 N. 12th St.; Corsicana; TX 75110
Phone: 903 874-4731 ; fax 903 874-4187
Web site: www.corsicana.org

Corsicana Visitor Center
Phone: 903-654-4850
Web site: visitcorsicana.com

D
Back to top

Dallas Chamber of Commerce
1201 Elm St. #2000; Dallas; TX 75270
Phone: 214 746-6600 ; fax 214 746-6799
Web site: www.dallaschamber.org

Dallas Convention & Visitors Bureau
1201 Elm. St. #2000; Dallas; TX 75270
Phone: 214 746-6677 or 214 571-1000 ; fax 214 571-1008
E-mail: inform@dallascvb.com
Web site: www.dallascvb.com

Denton Chamber of Commerce
414 Parkway St.; Denton; TX 76202
Phone: 940 382-9693 ; fax 940 382-0040
Web site: www.denton-chamber.org

Denton Convention & Visitors Bureau
Phone: 888-381-1818
E-mail: cvb@discoverdenton.com
Web site: discoverdenton.com

Duncanville Chamber of Commerce
300 E. Wheatland Rd.; Duncanville; TX 75138
Phone: 972 780-4990 ; fax 972 298-9370
Web site: www.ci.duncanville.tx.us

E
Back to top

Ennis Chamber of Commerce
108 Chamber of Commerce Dr.; Ennis; TX 75120
Phone: 972 878-2625 ; fax 972 875-1473
Web site: www.ennis-chamber.com

Ennis Convention & Visitors Bureau
Phone: 888-366-4748
E-mail: barbecvb@swbell.net
Web site: visitennis.org

F
Back to top

Farmers Branch Convention & Visitors Bureau
Phone: 972-300-4180
Web site: farmersbranchcvb.com

Farmersville Chamber of Commerce
P.O. Box 366; Farmersville; TX 75442
Phone: 972 782-6234

Flower Mound Chamber of Commerce
2631 Cross Timbers Rd. #205; Flower Mound; TX 75028
Phone: 972 539-0500 ; fax 972 539-4307
Web site: www.flower-mound.com

Forney Chamber of Commerce
P.O. Box 570; Forney; TX 75126
Phone: 972 564-2233 ; fax 972 564-3677
Web site: forney-texas.com/coc

Fort Worth Chamber of Commerce
777 Taylor #900; Fort Worth; TX 76102
Phone: 817 336-2491 ; fax 817 877-4034
Web site: www.fortworthchamber.com

Fort Worth Convention & Visitors Bureau
Phone: 800-433-5747
Web site: fortworth.com

Fort Worth Convention & Visitors Bureau
415 Throckmorton St.; Fort Worth; TX 76102
Phone: 817 336-8791 or (800) 433-574 ; fax 817 336-3282
Web site: www.fortworth.com

Frisco Chamber of Commerce
6842 Main St. #104; Frisco; TX 75034
Phone: 972 335-9522 ; fax 972 335-6654
Web site: www.friscochamber.com

Frisco Convention & Visitors Bureau
Phone: 972-963-9226
E-mail: marla@visitfrisco.com
Web site: visitfrisco.com

G
Back to top

Gainesville Area Chamber of Commerce
Phone: 940-665-2831
E-mail: info@gainesvillecofc.com
Web site: gainesvilletexas.org

Garland Chamber of Commerce
914 S. Garland Ave.; Garland; TX 75040
Phone: 972 272-7551 ; fax 972 276-9261
Web site: www.garlandchamber.com

Glenn Heights Chamber of Commerce
139 W. Ovilla Rd.; Glenn Heights TX 75154
Phone: 972-223-5509
Web site: www.glennheights.com

Granbury Convention & Visitors Bureau
Phone: 800-950-2212
Web site: granburytx.com

Grand Prairie Chamber of Commerce
900 Conover Dr.; Grand Prairie; TX 75053
Phone: 972 264-1558 ; fax 972 264-3419
Web site: www.grandprairiechamber.org

Grand Prairie Convention & Visitors Bureau
Phone: 972-263-9588
E-mail: cheri@gptexas.com
Web site: gptexas.com

Grand Saline Chamber of Commerce
103 N. Green; Grand Saline; TX 75140
Phone: 903 962-7147

Grapevine Chamber of Commerce
200 E. Vine St.; Grapevine; TX 76099
Phone: 817 481-1522 ; fax 817 424-5208
E-mail: grapevcc@gte.net
Web site: www.grapevinechamber.org

Grapevine Convention & Visitors Bureau
Phone: 817-410-3185
Web site: grapevinetexasusa.com

Greater Anna Chamber of Commerce
Web site: www.greaterannachamber.com

Greater Irving Chamber of Commerce
Contact: Las Colinas Chamber of Commerce
3333 N. MacArthur #100; Irving; TX 75062
Phone: 972 252-8484 ; fax 972 252-6710
Web site: www.irvingchamber.com

H
Back to top

Howe Chamber of Commerce
P.O. Box 250; Howe; TX 75459
Phone: 903 532-6012

Hurst - Euless - Bedford Chamber of Commerce
4201-A Airport Frwy.; Bedford; TX 76095
Phone: 817-283-1521 ; fax 817-267-5111
Web site: www.heb.org

Hutchins Chamber of Commerce
P.O. Box 457; Hutchins; TX 75141
Phone: 972 225-2255

I
Back to top

Irving Convention & Visitors Bureau
Phone: 800-247-8464
Web site: irvingtexas.com

Italy Chamber of Commerce
P.O. Box 840; Italy; TX 76651
Phone: 972 483-7329

J
Back to top

K
Back to top

Kaufman Chamber of Commerce
107 N. Jackson; Kaufman; TX 75142
Phone: 972 932-3118 ; fax 972 932-8373

Keller Chamber of Commerce & EDC
200 S. Main; Keller; TX 76244
Phone: 817 431-2169 ; fax 817 431-3789
Web site: www.cityofkeller.com

Kemp Chamber of Commerce
P.O. Box 484; Kemp; TX 75143
Phone: 903 498-7731

Kennedale Chamber of Commerce
P.O. Box 604; Kennedale; TX 76060
Phone: 817 483-6794 ; fax 817 483-0720
Web site: www.kennedale.com

Krum Chamber of Commerce
Contact: City of Krum
102 West Mc Cart Street; Krum; Texas76249
Phone: 940-482-3491 ; fax 940-482-3020
Web site: www.ci.krum.tx.us

L
Back to top

Leonard Chamber of Commerce
P.O. Box 117; Leonard; TX 75452
Phone: 903 587-3363

Lewisville Convention & Visitors Bureau
Phone: 800-657-9571
Web site: visitlewisville.com

Little Elm Chamber of Commerce
P.O. Box 184; Little Elm; Texas 75068
Phone: 972 294-1228 ; fax 972 294-8424
Web site: www.littleelmchamber.org

M
Back to top

Mansfield Chamber of Commerce
Phone: 817-473-0507
Web site: mansfieldchamber.org

Mansfield Economic Development Corp.
116 N. Main St.; Mansfield; TX 76063
Phone: 817 473-0507 ; fax 817 473-8687
Web site: www.mansfield-texas.com

McKinney Chamber of Commerce
1801 W. Louisiana St.; McKinney; TX 75070
Phone: 972 542-0163 ; fax 972 548-0876
Web site: www.mckinneytx.org

McKinney Convention & Visitors Bureau
Phone: 888-649-8499
E-mail: info@visitmckinney.com
Web site: visitmckinney.com

Mesquite Chamber of Commerce Visitors Bureau
Phone: 972-285-0211
Web site: mesquitechamber.com

Mesquite Chamber of Commerce
617 N. Ebrite; Mesquite; TX 75149
Phone: 972 285-0211 ; fax 972 285-3535
Web site: www.mesquitechamber.com

Metrocrest Chamber of Commerce
1204 Metrocrest Dr.; Carrollton; TX 75006
Phone: 972 416-6600 ; fax 972 416-7874
Web site: www.metrocrestchamber.com

N
Back to top

Northeast Dallas Chamber of Commerce
718 N. Buckner Blvd. #332; Dallas; TX 75218
Phone: 214 321-6446 ; fax 214 321-2100

Northeast Tarrant Chamber of Commerce
5001 Denton Hwy.; Haltom City; TX 76117
Phone: 817 281-9376 ; fax 817 281-9379
Web site: www.netarrant.org

O
Back to top

P
Back to top

Pilot Point Chamber of Commerce
300 S. Washington; Pilot Point; TX 76258
Phone: 940 686-5385 ; fax 940 686-9392

Plano Convention & Visitors Bureau
1520 Avenue K, Plano, TX 75074 Map to City Hall
Phone: 972 941-7000
Web site: plano.gov


Princeton Area Chamber of Commerce
P.O. Box 189; Princeton; TX 75407
Phone: 972 736-6462

R
Back to top

Richardson Chamber of Commerce
411 Belle Grove Dr.; Richardson; TX 75080
Phone: 972 792-2800
Web site: www.telecomcorridor.com

Richardson Convention & Visitors Bureau
Phone: 972-234-4141 or 800-777-8001
Web site: telecomcorridor.com

Roanoke Chamber of Commerce
100 Trophy Club Dr.; Roanoke; TX 76262
Phone: 817 491-1222 ; fax 817 491-0155

Rockwall Area Chamber of Commerce
697 E. I-30; Rockwall; TX 75087
Phone: 972 771-5733 ; fax 972 772-3642
Web site: www.rockwallchamber.org

Rockwall County Chamber of Commerce
Phone: 972-771-5733
E-mail: margie@rockwallchamber.org
Web site: rockwallchamber.org

Royse City Chamber of Commerce
122 E. Main; Royse City; TX 75189
Phone: 972 636-5000 ; fax 972 636-5000

S
Back to top

Sachse Chamber of Commerce
5941 Highway 78; Sachse; Texas 75048
Phone: 972-496-1212 ; fax 972-496-4260
Web site: www.sachsechamber.com

Saginaw Area Chamber of Commerce
115 N. Saginaw Blvd.; Saginaw; TX 76179
Phone: 817 232-0500 ; fax 817 232-2311
Web site: www.saginawtxchamber.org

Sherman Chamber of Commerce
307 W. Washington #100; Sherman; TX 75091
Phone: 903 893-1184 ; fax 903 893-4266
Web site: www.shermantexas.com

Southeast Dallas Chamber of Commerce
P.O. Box 170132; Dallas; TX 75217
Phone: 214 398-9590 ; fax 214 398-9591

Southlake Chamber of Commerce
1721 E. Southlake Blvd. #201; Southlake; TX 76092
Phone: 817 481-8200 ; fax 817 329-7497

Springtown Area Chamber of Commerce
112 S. Main; Springtown; TX 76082
Phone: 817 220-7828
Web site: www.springtownchamber.org

Sunnyvale Chamber of Commerce
Contact: Town of Sunnyvale
537 Long Creek Road; Sunnyvale; Texas 75182
Phone: 972-226-7177 ; fax 972 226-1804
Web site: www.townofsunnyvale.org

T
Back to top

Terrell Chamber of Commerce
1314 W. Moore Ave.; Terrell; TX 75160
Phone: 972 563-5703 ; fax 972 563-2363
Web site: terrelltexas.com

Terrell Chamber of Commerce
Phone: 972-563-5703
Web site: terrelltexas.com

The Colony Chamber of Commerce
6900 Main St.; The Colony; TX 75056
Phone: 972 625-4916 ; fax 972 625-8027

Town of Addison (chamber)
Addison Town Hall; 5300 Belt Line Road; Dallas; Texas75240-7606
Web site: www.ci.addison.tx.us

Town of Addison
Phone: 972-450-6200
E-mail: bphillips@ci.addison.tx.us
Web site: addisontexas.net

Trophy City/Roanoke Chamber of Commerce (Trophy Club)
100 Trophy Club Dr.; Roanoke; TX 76262
Phone: 817 491-1222 ; fax 817 491-0155

Troup Chamber of Commerce
P.O. Box 336; Troup; TX 75789
Phone: 903 842-4113

V
Back to top

Van Alstyne Chamber of Commerce
P.O. Box 698; Van Alstyne; TX 75495
Phone: 903 482-6066

W
Back to top

Waxahachie Chamber of Commerce
102 YMCA Dr.; Waxahachie; TX 75168
Phone: 972 937-2390 ; fax 972 938-9827
Web site: www.waxahachiechamber.com

Waxahachie Convention & Visitors Bureau
Phone: 972-937-2390
E-mail: lmosley@waxahachie.com
Web site: waxahachiechamber.com

Weatherford Chamber of Commerce and Visitor Center
Phone: 817-596-3801
Web site: visitweatherford.com

Weatherford Chamber of Commerce
401 Ft. Worth St.; Weatherford; TX 76086
Phone: 817 594-3801 ; fax 817 594-1623

Whitesboro Area Chamber of Commerce
107 W. Main; Whitesboro; TX 76273
Phone: 903 564-3331 ; fax 903 564-3397

Whitewright Chamber of Commerce
125 W. Grand; Whitewright; TX 75491
Phone: 903 364-2000

Wolfe City Chamber of Commerce
P.O. Box 8; Wolfe City; TX 75496
Phone: 903 496-2832

Wylie Chamber of Commerce
108-A West Marble; Wylie; TX 75098
Phone: 972 442-2804; fax 972 429-0139
Web site: www.wyliechamber.org

I’ve Got Your Six!

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

Financial Calculations

Preapproval
• In a "seller's market," many agents won't show houses before clients have preapproval letters from lenders - especially during a pandemic. Only a trusted lender can give buyers the final preapproval number based on each buyer's unique circumstances.

A prequalification takes the information provided by the borrower, assumes truthful disclosure and gives an estimate. A preapproval requires the lender to research the information provided by the borrower to ensure all the information is true and still valid. Ideally, a preapproval has gone through the underwriting process to ensure everything will move smoothly.

Unapproved buyers simply aren't prepared to make immediate offers. A properly priced house could have 30 offers in the first few days. This is business. Sellers will select buyers that are READY, willing and able to close the transaction.

• It's vital to get the final loan approval number from a trusted lender. Many variables are factored into the amount that lenders may risk at any specific time on any specific borrowers for any specific properties. Only lenders determine this, and lenders will each have different standards. The preapproved amount is the maximum allowed by a specific lender.

• It's important to shop lenders. Borrowers can have multiple "like kind" credit inquiries ("hard pulls") by mortgage lenders within a 45-day period, and those only reduce the credit score as if one inquiry was requested.

What Can I Afford?
Many financial advisers suggest the 28/36 Percent Rule for housing. This rule allows for a maximum of 28% of gross annual income for housing expenses and a maximum of 36% for total debt (8% more on top of housing). The remainder is used for food, utilities and life's essentials.

Buyers should have financial "breathing room" when determining how much debt they are willing to incur. Don't become "house poor."

The final lender-provided number includes consideration for the loan principal and interest along with insurance, taxes and often HOA fees. Lower interest rates allow buyers to get bigger, better and newer homes because less money is paid toward interest each month for 30 years.

As a rule of thumb, three times annual income is a good starting point for estimate calculations. If someone is completely debt free, a number closer to four times annual income might be possible but not suggested.

Expect household expenses to rise. More interior space could mean more utility expenses. More exterior space may mean more gardening and upkeep expenses. Older homes often need more maintenance.

Don't surrender savings, retirement and college expenses to afford a house. Buyers should get the ideal house, which may not be perfect.

Estimated "Ballpark" Starting Amount
The calculation below gives buyers a "ballpark number" to estimate when buyers have saved enough to take the next steps.
_______ $ Gross annual income
_______ $ x 3 Rule of Thumb sales price range (Price)
_______ Price - Down payment = Total Est. finance amount *
               * Use Total Est. amount for following calculations

Down Payment
Below are the down payment amounts buyers may need at closing for different types of loans and different obligations. These are based on the amount financed rather than the total price of the house.
_______ $ Total Est. Amount Financed
_______ $ x .03 Minimum conventional loan.
_______ $ x .035 Minimum FHA loan without grant
_______ $ x .05 Common conventional loan
_______ $ x .2 Minimum conventional loan to avoid PMI*
               * PMI is Private Mortgage Insurance collected by the bank to ensure the borrower pays
               the debt until the borrower has paid 20% of loan amount or gained 80% equity in the house.

Debt-To-Income Ratio
The debt-to-credit income is how lenders determine the amount of risk they will accept for any specific loan amount. Different lenders and loan types have different ratio thresholds. Please see previous page.
_______ Buyer total monthly expenses
_______ ÷ Gross monthly income
_______ = Total Debt Service Ratio

Expected Closing Costs
Below are the expected total expenses to calculate. It is based on the total price of the house rather than the amount financed.
_______ $ Total Agreed sale amount
_______ $ x .01 Earnest Money (EM) required on Day 1.
_______ $ x .035 Estimated Closing Costs (CC)
_______ CC - EM = Approximate amount needed at closing.

I've Got Your Six!

How To Understand Mortgage Loans

Credit Score Minimum
Buyers should have a middle credit score of 620 or above. Loan officers make decisions based on the middle credit score of the lowest-scored application if there are two or more borrowers. It’s the loan officer's job to protect the company’s investments.

To ensure an easy approval, continue to pay lenders on time, reduce debts and increase savings for a down payment and closing costs.

   Initial Money Requirements It’s ideal to pay a 20% down payment to avoid mortgage insurance, which only ensures the bank gets their money each month. However, conventional loans are often 5% down and a few are available with as low as 3% down.

Federal Housing Administration (FHA) loans start at 3.5% down. However, these loans have a Mortgage Insurance Premium throughout the entire loan. FHA loans also have minimum appraisal and inspection standards that must be met. In a strong seller’s market with multiple offers, it’s often difficult to get sellers to consider buyer’s offers that include FHA restrictions.

Closing costs are about 3.5%. Earnest money can be applied to closing costs. Often the earnest money payment is 1% of the house’s sales price. For example, a $300,000 house would have a $3,000 (1%) earnest money payment and an additional $7,500 in closing costs for a $10,500 total (3.5%).

While Veterans Administration (VA) loans can be approved with a $0.00 down payment. The veterans must still pay earnest money and closing costs. Sellers can voluntarily agree to pay some portions of the closing costs for any buyers. VA loans also have minimum federal standards.

Closing costs vary and can be less but expect a higher amount to ensure the buyers can get across the finish line with some money left over in savings for moving and unexpected expenses.

Down-payment assistance grants are available. However, credit scores must be at least 620 or above to qualify. We all cross the finish line.

   Debt-To-Income Ratio
Debt-to-income ratios are calculated by dividing the borrowers’ total monthly debts by the gross monthly income before taxes (see calculator). Monthly debts include all projected debts both fixed like mortgage and car payments as well as revolving or variable debts such as credit cards.

Ideally, debt-to-income ratios won't exceed 36%. Conventional lenders want the ratio of buyers to be less than 43%. Meanwhile, FHA allows this ratio to be up to 50% unless the borrower needs a grant.

Working with a great lender is essential to make educated decisions and find all options available to meet buyers' goals. Other programs can go outside the traditional guidelines, but the suggestions above will get most folks keys to their ideal house.

For many people, a house purchase is the single largest investment of their lives. It comes with risks and rewards. However, homeowners have more than 40 times the net worth of renters according to the Survey of Consumer Finances by the Federal Reserve.

When discussing home ownership and net housing wealth, The Survey of Consumer Finances stated, "For families in the bottom half of the income distribution, the homeownership rate was 49.1 percent in 2019, while the homeownership rate for those in the top 10 percent of the distribution was 93.6 percent."

   I've Got Your Six!

How to Read a CMA

Photo Illustration

Comparative Market Analysis (CMA) reports can measure a variety of property types. The goal is to always compare a "subject property" to a "like-kind" property. 

Like-kind properties are single-family, ranch, townhouse, condominium, duplex, triplex, multiplex, etc. Additionally, the CMA aims to find properties that are similar in size, age, location, number of stories, pool or not, subdivision, elementary school attendance area, and composition (wood, brick, adobe, etc.) to the subject property. 

Once the basics are close, minor adjustments can be made for upgrades such as floors, stone counters, sprinkler systems, etc. 

The main categories viewers are likely to see on CMAs are:

• Active Properties - are currently for sale. Because real estate is negotiable, this is often a "wish we could get" number. In super hot markets, this can be deliberately low to create a bidding war for the highest offer in the shortest time. 

• CDOM (last column) - literally means the “cumulative days on market.” A high number of days on market can indicate a problem with the price (most often), location (next to a highway or airport) or the property itself (condition). However, it could also mean the seller is reluctant or too busy to release the property. 

• Coming Soon Properties - are NOT currently for sale. They cannot be shown to the public until they become Active. Nonetheless, buyers can send "blind offers" to purchase the properties while they are in this status without ever seeing the property in person.  

• Active Option Contract Properties (0-7 days typically) - have executed a contract and are currently conducting due diligence inspections and settling some negotiation points. These are essentially off the market unless something goes wrong with buyer financing or the house condition during inspection.

• Pending Properties (0-45 days) - have settled most negotiations and await resolution of some actions such as title, finance, repairs, etc. before closing.

• Sold/Closed Properties (0-90 days typically) - are exactly what you would expect. They are the strongest indicator of market value of homes entering the same market because these are examples of what the market has recently paid for similar homes. 

• Active Contingent Properties - are properties where the sale is contingent on some other action happening such as financing approval. 

• Active Kick Out Properties - are also properties where the sale is contingent on some other action happening (typically the sale of the Buyer’s house). However, the contract allows the seller to cancel the contract if another buyer makes a better offer during the contingency period. The first buyer must move forward within a very short period (typically 2 days) to prevent being kicked out of the agreement.

• Expired Properties (0-90 days) - are properties that – for whatever reason – didn’t sell during the time it was marketed. 

I've Got Your Six!

Staged bottles

If you see two unopened Pellegrino bottles in the kitchen on display, the house was staged. It's a valid item to include when staging a house. It's colorful; it adds height; it reflects light; it's sophisticated on a budget. However, nobody just happens to have two bottles of this particular brand of water sitting on the counter.

I’ve Got Your Six!

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

#DFWmark #REALTOR #SellMyHouse #HouseForSale #StagedHouse #HouseStaging #ThingsRealtorsNotice #Pellegrino #water #bottle #DisconnectedFromReality

Market Watch - 1 Oct. 2021

A "buyer's market" is when there is more than six months of inventory. The last buyer’s market was from July 2010 to July 2012. Currently, there are only a few weeks of inventory in most cities of Collin and Denton counties. If absolutely no houses sold, it would take at least five months to get to a buyer's market. That won't happen anytime soon.

We are currently near historic low interest rates (the cost of borrowing money). This fueled the buying spree that started in July 2020 because people can get "more house for less money." Please read, "Two Reasons Why Waiting a Year to Buy Could Cost You" by Keeping Current Matters.

It is a strong "seller's market" because all the inventory is depleted. However, now is ALSO the best that the market is going to get for buyers. If any buyer is not financially or mentally ready now, that's different. No worries. They should do what's best for them.

The current situation has record low interest rates, record low inventory, record low housing starts, near record high material costs, and skilled worker shortages during record high sales volume (yes, you read that correctly).

We already know about the low Inventory of Homes for Sale. We are near the record low volume from earlier this year. This means all the reasonable reserves have been depleted. That's logical.

The part that isn't logical is Closed Sales. The volume since about March 2021 was higher than it was during any point in the record-breaking years of 2018 and 2019. It dropped off this month mostly because of schools starting (cyclical), low inventory and buyer fatigue rather than anything else.

So, there is a record high volume of homes sold AND a record low inventory.

Consequently, prices won't go down. This is the best they will be for the foreseeable future. Only the past 15 months would be a better time to buy than right now from an appreciation point of view.

Since last week, Properties Sold and Under Contract have increased while New Listings and Pending have decreased. The market remains inverted by 1,020 properties this week alone.

The Lease Market increased New Listings slightly while Pending and Leased properties declined with the start of a new month.

The lease market is still difficult for all but the most qualified applicants without pets. Don’t rent when it’s easier and better to buy. Talk to me.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #BuyersMarket #RealEstateTrends #RealEstateGraphs #HistoricHousing #StrongDemand #RealEstateAnalysis

Market Watch - 24 Sept. 2021

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

The inversion is more pronounced this week with 476 more properties leaving the market than entering. The continued buying spree is fueled by near historic low interest rates and a realization that there’s a long-term housing shortage and home prices will increase.

The Lease Market reduced New Listings again while Pending and Leased properties were flat. The Lease Market remains inverted.

Y’all should visit one of my Open Houses! No appointment necessary. I’ve got great handouts, and we can talk about what’s happening in the market in person. Those cookies won’t eat themselves!

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com
#DFWmark #REALTOR #MarketWatch #BuyNow #LowMortgageRates #SellersMarket #SellNow #InventoryShortage #StrongDemand #LeaseShortage

Market Watch - 17 Sept. 2021

Since last week, all regular market activities have increased. However, the market remains inverted with 45 more homes leaving than entering the North Texas / Northwest Louisiana market. It’s still a strong seller’s market and loan rates are still near historic lows.

The Lease Market (below) had a nominal reduction of new listings while Pending and Leased properties increased back into inverted territory. The difference between New Listings and Leased Properties was only six properties in an area of about 6.5 million people.

Let’s meet and talk in more detail over Zoom or a cup of coffee – my treat! Call, text or email for an appointment when you or an associate wants help to sell or buy a residential property in this complex market.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #BuyNow #LowMortgageRates #SellersMarket #SellNow #InventoryShortage #StrongDemand #LeaseShortage

Calorie Charts

One pound of fat is approximately 3,500 calories. It’s good to watch calorie consumption and burn rates if health or weight control is the goal – especially before the holidays. Weight can be lost or gained through a combination of food consumption and/or exercise.

This month’s Information of Value is a handy chart that can go on the fridge as a reminder of which choices might be best for your needs. It is also available as a hyperlinked PDF for viewing, printing or download from my Google Drive (t.ly/snn8). 

Feel free to share this information with your family, friends and associates.

I’ve Got Your Six!

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

#DFWmark #REALTOR #calories #CalorieChart #RefrigeratorSheet #exercise #BurnRate #ThisNotThat #GoodChoices #WeightManagement

Market Watch - 10 Sept. 2021

Since last week, all activities have decreased. Even with 1,069 fewer homes Sold, the market remains inverted with more homes leaving than arriving. Strong buyer demand remains.

All activity in the Lease Market also declined. This is the first week in the last six months that more lease properties came onto the market than left. However, it is also the lowest number of Leased properties recorded during the same time.

I put together a set of trends happening in the entire North Texas Real Estate Information Services (NTREIS) market (below). The raw numbers verify that prices are very likely to continue to rise for the foreseeable future. Properties are simply leaving the market faster than they arrive largely due to near record low mortgage rates.

There is a high volume of New Listings (properties coming onto the market), but the total Inventory has been depleted via Closed Sales to the record low Days On Market. The Average Sale Prices and Median Price Per Square Foot are at (Collin County) or near (NTREIS) record high prices and on an upward trajectory absent a significant economic change.

The market will likely run away from buyers who are waiting. The prices will probably go up and the interest rates can’t remain this low forever. Serious buyers who can handle a few rejections will be rewarded with appreciation and equity down the road in this market.

I’ll have copies of this information at my open house on Sept. 12 from 1-3 p.m. at 11947 Bamberg Lane in Frisco as well as other information and treats. I’m also happy to explain these graphs in more detail over Zoom or a cup of coffee – my treat! Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market. Let’s meet and talk!

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #MarketTrends #SellersMarket #SellNow #RecordPrices #LeaseShortage #InventoryShortage #StrongDemand

Market Watch - 3 Sept. 2021

Since last week, New Listings and Sold have increased while Properties Under Contract are flat and Pending have decreased. Even with inventory gains, the market remains widely inverted.

The Lease Market gained Listings and Leased while Pending Properties decreased as a new month began.

The end of the CDC eviction moratorium may have started to work into the housing market – particularly the lease market. It should take a few weeks to notice significant differences.

The expectation is more properties will be listed for lease and sale after landlords have time to execute evictions and make property repairs. This may be tempered by the pandemic resurgence.

The lease market remains inverted with more houses leaving the market than entering. There’s still great demand for lease housing. The low Leased number most likely reflects limited inventory.

Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #SellNow #MoreLeaseOptions #LeaseShortage #evictions #InventoryShortage #StrongDemand

HOA Laws are Changing in Texas

Texas REALTORS reports:

"Texas REALTORS® proudly supported these pro-consumer changes.

New REALTOR®-supported laws passed in 2021 bring more balance between the rights of property owners and their property owners’ associations. At least 6 million Texans are estimated to live in communities governed by property owners’ associations. This number will only increase as new communities are built across the state to meet the needs of our growing population.

Property owners’ associations are often necessary to create new housing, and they typically add value to the communities they serve.

Property owners’ associations also have significant power over people’s homes and their communities, and it is appropriate for the Texas Legislature to ensure that that power is executed with care.

The passage of monumental HOA reform legislation wouldn’t have happened without Texas REALTORS®. During the legislative process, members advocated on behalf of homeowners and homebuyers to show lawmakers the scope of the issues being faced.

Texas REALTORS® sent representatives more than 12,500 messages supporting the bill—a record-high call-for-action response!

In addition, the website MyHOAStory.com has been a great tool for collecting real-world stories from homeowner and REALTORS® about challenges they’ve faced with HOAs.

Following are changes made by Senate Bill 1588 that are effective on Sept. 1, 2021.

• FEES ARE CAPPED for subdivision information ($375), resale certificates ($75), and updated resale certificates ($75).

• TREC will create a publicly accessible CENTRAL DATABASE OF TEXAS HOAS by Dec. 1, 2021. HOAs that have filed management certificates in county records before Dec. 1, 2021 are required to file with TREC by June 1, 2022.

• HOAs are required to MAINTAIN WEBSITES with management certificates and meeting information and notifications.

• HOAs are required to FILE DEDICATORY INSTRUMENTS WITH THE COUNTY and provide certain contact information on all dedicatory instruments and management certificates.

• Property owners have new PROTECTIONS FROM NEGATIVE CREDIT REPORTING when a fine or fee is in dispute, and HOAs payment plan before reporting delinquencies.

• Prevents some CONFLICTS OF INTEREST within HOA architectural review boards.

• HOAs are barred from requiring access to LEASE AGREEMENTS and are only allowed to request tenant’s contact info and lease beginning and end dates.

• HOAs are required to SOLICIT BIDS for any contract for services over $50,000.

• HOAs are barred from prohibiting certain POOL SAFETY ENCLOSURES, the installation of certain SECURITY MEASURES on an owner’s private property, or certain RELIGIOUS DISPLAYS.

• HOA boards are required to provide members with TIMELY NOTICE ABOUT MEETINGS.

• Improves DUE PROCESS IN DISPUTE RESOLUTION and provides additional legal avenues when seeking resolution from a dispute with an HOA."

I’ve Got Your Six!

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

#DFWmark #REALTOR #HomeOwnerAssociation #HOA #consumer #buyer #seller #leases #PowerShift #ResaleCertificate #DueProcess

Market Watch - 27 Aug. 2021

Since last week, the U.S. Supreme Court ended the CDC eviction moratorium. It should take a few weeks to notice any difference. The expectation is to see more properties for lease and sale after landlords have time to execute evictions and make property repairs.

Buyers need to pay special attention to properties that were formerly leased. Tenants rarely care for properties as much as homeowners. Regular maintenance may not have been completed. Ensure the house is inspected.

Prior to the ruling, New Listings were flat, Properties Under Contract and pending decreased while sold properties increased. Sold properties jumped above Listed to invert the market again.

The Lease Market saw declines in Listings and Leased properties with an increase in Pending Properties.

The lease market remains inverted again with more houses leaving the market than entering. The low Leased number is most likely a result of limited inventory rather than decreased demand.

Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #SellNow #LeaseMoratoriumEnds #LeaseShortage #evictions #InventoryShortage #StrongDemand

Market Watch - 20 Aug. 2021

Since last week, locating available housing is challenging for sale and lease. New Listings, Properties Under Contract and Sold all decreased with an increase in Pending Properties. However, Sold properties are below Listed, so the inverted market is flattening some.

It’s still a strong seller’s market due to limited supply of both lease and preowned properties. Overall preowned sale prices are flattening, but some submarkets are still strong and sell at high percentages over asking.

The Lease Market saw declines in Listings and Pending with an increase in Properties Leased as the “new” eviction mandate remains in place.

The lease market remains inverted with more houses leaving the market than entering. The low Leased number is most likely a result of limited inventory rather than decreased demand.

UPDATE:
U.S. Supreme Court ends CDC eviction moratorium.

Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #SellNow #LeaseMoratorium #LeaseShortage #moratorium #InventoryShortage #StrongDemand

House Care and Maintenance

Whether owned or leased, all houses require regular maintenance. Regular cleaning and treatments keep the systems running and encourage a healthy environment inside the structure. Here are some tips to get the most out of your home.

Manuals and remote controls are often in the kitchen drawer after closing at new or many preowned homes. Remote controls open and close garage doors. Garage doors can often be programmed into cars or operate via WiFi with smartphones. Get the external keypad code and change the code quickly.

Spare bricks that match the exact lot of exterior bricks for the house may be in the garage. Keep these to repair any future damage with matching bricks. Similarly, there may be flooring, tiles and other samples in the attic to provide matching materials for minor repairs. When you need professional help, I've Got Your Six with an ever-changing list of local, qualified pro vendors at dfwreferral.blogspot.com

Cleaning
Manufacturers have deemed certain products acceptable for use in a new house without voiding the various warranties. New home buyers get a document in the files titled “Countertop Care & Maintenance” (or something similar), which lists many products that can and can’t be used and helpful tips.

Sweep and vacuum luxury vinyl floors (lux) as needed. Wet mop weekly with a water and distilled vinegar mixture or the classic Mr. Clean product.

Place doormats inside each outside entrance. This allows most dirt to be trapped at the doors and saves additional abrasion on the main floors.

Put pads under chair, couch and table legs. Rubber pads or rubber-bottomed area rugs are suggested under furniture to keep them from sliding on lux vinyl floors.

In glass shower enclosures, it’s best to clean the glass and apply Rain-X or a similar glass treatment to help the glass shed water. Additionally, use a shower squeegee to remove standing beads of water after each shower. Texas hard water can leave spots and other mineral buildup like lime. The combination of glass protection and regular squeegee use will make a clear difference.

Most carpets are treated to repel spills. However, spills must be addressed immediately. Wet a cloth with clean water and apply it to the spill. It should wick up the spill. If spills are more stubborn or have been there a while, consider using Resolve carpet cleaner on the specific spill.

Whenever it’s time to deep clean carpets, only use water-based steam cleaning. Never shampoo the carpet because the chemicals stay in the carpet and attract additional dirt.

Stone Countertops
For stone counters, look for specific stone or other “multi-surface” products. Avoid anything that uses an acid base because it damages countertops and sealers.

We use “Granite & Stone Daily Wipes” from Weiman on our counters. It’s available at most home improvement stores and online. It is good for sealed quartz, granite and marble.

Often, kitchen countertops are made of granite. Although much more durable than Formica, don’t place hot pots and pans directly onto the granite from the heat source. Instead, use hot pads or trivets to protect the granite surface. To prolong the stone surface quality, use cutting boards rather than cutting directly on the counter.

Stone countertops need to be resealed at least annually. Get the materials at most home improvement stores or online for about $20. It’s a fairly simple process. Here’s a short video that shows how to reseal countertops: www.youtube.com/watch/NDrKudzK0WI

Caulk and Cracks
Due to Texas’ expansive soil and weather, cracks and movement are inevitable. Homeowners need to monitor the interior for cracks. As interior humidity levels change and stabilize, hairline cracks appear due to shrinkage at the joints. Most shrinkage should happen within the first year.

Caulk is used to blend interior joints within the house. Joints lose moisture, settle and get hairline cracks. Expect to recaulk in about five years. Traditional latex caulk (called ALEX caulk when manufactured by DAP) 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 recaulked due to shrinkage. It will also happen in all the bathrooms because the caulk dries and shrinks over time. Use silicon caulk around showers and tubs.

There are cracks in the concrete under the flooring. This is normal. They may also appear in the sidewalk and driveway, which are separate from the foundation.

If a crack gets wide enough that a nickel edge fits in it, it’s a problem. It’s also a foundation warranty item for the first 10 years.

To learn more about the foundation, please read the Construction 101: Foundation entry on Page 75.

A diagonal crack from the door frame indicates a structural problem. Similarly, if more than one door no longer shuts properly it could indicate a structural problem. These issues need to be addressed by the builder or assessed by an engineer if it's in a preowned home. Most builders have a 10 year warranty for structural issues.

Moisture
Condensation is no longer an issue with modern windows due to the way they are manufactured and insulated. However, residentss still want to keep humidity down inside the house to help with condensation anywhere within the house that might have temperature differences. Optimal relative humidity is 30-50% indoors to feel comfortable and minimize mold growth.

To keep moisture to a minimum, run the exhaust fans located in the bathrooms and laundry while those rooms are in use with flowing water. Also, use the kitchen exhaust fan while cooking any foods that evaporate on the stove top.

Lights
Most modern houses have LED (light emitting diode) lights rated at the equivalency of 60-watt traditional bulbs. However, sometimes recessed lights include a trim as part of the bulb. When those lights need to be replaced, residentss must replace the light and attached trim with a similar bulb/trim.

I personally suggest light bulbs that are colored as 5,000 K lights (light temperature/color is measured in Kelvin degrees). These are considered “natural daylight.” The short reason is that all photos will be the correct color in the house.

Also, residents will have more energy, be able to see better and will be able to tell the difference between navy blue and black. If residents need an area to nap, to relax or unwind, choose low-power 3,200 K lights (orange-color tungsten) for those areas. To learn more technical issues about light colors and balancing the light, please read my PhotoJournalism blog post about balancing light (link).

HVAC
The HVAC (heating, ventilation and air conditioning) system filter needs to be changed. It's often in the attic but can be in a ceiling or wall. The filter must be properly replaced to ensure the warranty is valid. The recommendation is to change it monthly. However, if it’s relatively clean it can be used a little longer. Many have one filter with 20x25x1 dimensions. Newer luxury homes have 4-inch and 5-inch filters that need to be replaced with each season.

Write the change date on the filter itself to help determine if it’s time to change the filter. Even if it isn't changed monthly, please check it monthly to ensure it’s still filtering properly and not clogged.

The Air Conditioning system creates condensation. This condensation runs down a tube and into your household plumbing - typically under a bathroom sink. Deposits and germs can build up in this tube due to the moist, warm environment.

Residentss need to pour a cup of household bleach down the tube each month that the air conditioner is in use. The tube is typically a white PVC (plastic) pipe located near the AC unit in the attic. There is probably a plastic cap on the pipe that is easily removed to add bleach. Some folks leave a funnel in the attic for this.

Appliances
It is the new homeowner’s job to secure a warranty through the manufacturer for the household appliances. This is most easily done through their smartphone applications. Home warranty policies most often also cover common appliances.

The dishwasher controls can be hidden on the top of the door. It will have a countdown clock before it starts. If someone needs to open the door while it’s running, open it slightly to get the washer to turn off without spraying water everywhere. Once it stops, it will start pumping water out. At this point, open the door an extra amount to access the controls.

Newer ovens are WiFi enabled for preheating convenience, to monitor the temperature and other variables. These ovens also have touchscreens with variable settings.

The vent built into a microwave over the cooktop can have a four-speed fan. In newer quality homes, it exhausts outside to reduce smell and help control humidity inside the house. It may recirculate or vent into a cabinet in preowned homes. The sink disposal may be controlled by a button on the top of the island. There can be a master power switch to the disposal inside the cabinet under the sink. If it is switched off, the disposal won’t work.

If something gets lodged in the disposal, it will stop and trip its internal breaker. Turn off the power switch to the disposal.

There should be an sturdy Allen wrench or hexagonal “key” provided to solve most of these situations. Insert the key into the hole in the bottom of the disposal. Rotate the key back and forth until the disposal plate moves freely again.

Once it moves freely, ensure whatever was lodged in the disposal unit has been completely removed. Then, press the reset button on the bottom of the disposal and turn on the power switch. The unit should work properly at this point.

Always use cold water while the disposal is operating. Please know the disposal is meant for “soft” items. It was not designed to eliminate bones or extremely fibrous vegetation. For instance, large amounts of (formerly dried) beans should not go into the disposal unit - I learned this the hard way and had to replace mine.

Exterior
If the house has an adequate irrigation system, the house doesn’t need to run soaker hoses around the foundation. However, the sprinkler system must be used to properly maintain the foundation – especially during the dry months.

Roof gutters help prevent water damage to the foundation by ensuring water is distributed away from the house. However, the gutters need to be kept clear and clean and drainage from the downspouts needs to be clear.

Homeowners don’t want standing water or dry conditions near the foundation because they’ll cause foundation damage. Residents may want combination locks for outside gates and the exterior breaker of the A/C unit. This prevents pranksters and others from cutting the A/C.

It’s ideal to apply a sealant to the fence for protection from water and to extend the life of the wood. A new coat should be applied each six months, but at least once per year should suffice. When it’s time for a new fence, most folks must negotiate costs with neighbors who share fences.

Before installing a gate in a fence to access a public area, check with the HOA. Even if other homes in the neighborhood install these gates in shared community walls, check with the HOA to ensure it is acceptable in this specific circumstance.

The exterior faucet should have a frost-proof hose bib. However, it’s important to disconnect hoses from the faucet before a freeze. It’s also helpful to cover the faucets with insulated hard-plastic faucet covers to ensure the faucet doesn’t freeze.

In about five years, the exterior caulk will degrade to the point that the windows and expansion joints will need to be recaulked. Use exterior silicone caulk because it has more flexibility than traditional latex caulk.

Lawn and Sprinklers
Level the lawn to keep moisture levels constant throughout the yard. Swails (lowered trenches between the houses) are designed to allow water to drain away from the house and protect the foundation. They are designed to drain to both the front and back. Do not fill or block the swails.

If sprinklers were installed by professional installers, a house should have about 10 zones. The one-year warranty period on the system starts when the system was installed – not when the house closes. Note the specific date the warranty will expire. It is often only a few months after the closing date.

In addition to regular water, fertilize a Bermuda grass yard with 15-5-10 fertilizer twice in the spring and once each fall. Landscaping grass, trees and shrubs are not covered under the manufacturer’s warranty if they die. To get a free demonstration of how to use a house's sprinkler system, call the installer. You can also visit www.watermyyard.org for money-saving watering tips and system tutorials.

It’s my honor to help you find a beautiful new home. I’m always a call, text or email away. I wish you many years of happiness and joy in your new home!
I’ve Got Your Six!

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

Market Watch - 13 Aug. 2021

Since last week, residential housing had setbacks. New Listings and Properties Under Contract were flat while Pending and Sold Properties decreased. There are slightly more new listings than sold, so it’s a minor improvement.

 
The Lease Market saw declines in new listings and properties leased since many districts started new school years and the CDC stepped in to regulate the lease market mechanisms last week.

The CDC Eviction Moratorium expired on July 31, 2021. Congress didn't impose a new moratorium.

The expectation was that more houses would enter the market after the moratorium expired. Landlords could liquidate those houses relatively quickly and extract appreciation from the properties. After months of tenants living in those properties without paying rent and most likely unwilling to perform regular maintenance, it is feasible those properties would need repairs to become market ready. Most were expected to hit the market starting on Aug. 15 after evictions and repairs.

However, the CDC issued a "new" moratorium on Aug 3. They stated it is not an extension of the previous moratorium that the Supreme Court ruled against. Instead, this is a "new moratorium" that only affects "Areas of Substantial and High Transmission" of COVID-19 - which is about 90 percent of the USA. Unless overturned or extended, the “new moratorium” is set to expire Oct. 3, 2021.

Alabama and Georgia associations of REALTORS were joined by the national association in lawsuits to stop this action.

The Lease Market had a sharp increase after the previous eviction moratorium ended. However, it was followed by a significant drop after the “new moratorium” was ordered. With a shortage of lease homes available, those potential tenants must work harder to find housing in both the lease and preowned markets.

Since the “new moratorium” was implemented, listing volume has been on a slow but steady decline. Sold properties had a spike as school began across much of the DFW Metroplex. It has since decreased below the volume of July 30.

The volume of Price Decreases had a sharp turn after the new moratorium was announced. It’s the first drop since the moratorium delay from June to July but a much higher volume as sellers understood an influx of former lease houses to the market is unlikely soon.

Months Of Supply measures demand. The Months Of Supply was at historic lows in March. The historic high point for lumber futures was in May. Unemployment stopped paying additional supplements at the end of June and unemployment numbers dropped in July. Simultaneously, many states began to roll back pandemic protocols during these months as vaccination rates climbed.

The result is that employees went back to work as the costs of building materials declined. Subsequently, new housing starts increased as builders purchased materials at bulk prices and worked on demand backlogs.

The new construction homes have affected the Months Supply of Inventory numbers while preowned listings remain relatively flat near historic lows.

The “Fourth Wave” of COVID-19 Delta and Lambda variations has put a strain on area hospitals and created a rollback to some pandemic restrictions in urban centers. These actions are new this week and are likely to affect sellers who are concerned about the disease transmission.

At this point, it’s still a strong seller’s market for preowned houses with limited supply of both lease and preowned properties. Buyers with the help of REALTORS can find more new construction homes in outlying areas of the Metroplex.

I have a variety of options for sellers who want to buy before they sell and might need a small repair budget to maximize their selling price and/or speed of sale. I also know where new construction homes are available in North Texas.

Call, text or email when you’re ready for me to help you sell or buy a residential property in this complex market.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #NewMoratorium #PriceStability #FlatMarket #LeaseShortage #moratoriums #NewConstruction

Testimonial - Plano

It was my honor to help you find your ideal home during this unprecedented lease market! Thanks for your cooperation and support through the process!

“Mark gets 5* in all categories! Extremely friendly and easy to communicate with.

Mark’s slogan is the most accurate thing ever. He had our six the whole time and checked up on everything possible for us. Extremely helpful, friendly, professional and a total pro.”

- Jocelyn, in Plano

I’ve Got Your Six!

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

#DFWmark #REALTOR #RealSatisfied #Plano #PlanoISD #CollinCounty #review #testimonial #lease #rent

Market Watch - 6 Aug. 2021

A new eviction moratorium was issued by the CDC on Aug. 3 in response to the "fourth wave" of Covid-19 Delta/Lambda variants. The Supreme Court already overturned the previous eviction moratorium, but didn't halt it. It expired on July 31.
Congress refused to place a new moratorium as requested. The CDC then issued a "new" moratorium that only applies to areas with heightened infection rates, which is about 90 percent of the United States. The center stated this was a "new" moratorium rather than an extension of the old moratorium that the SCOTUS ruled unlawful.
The National Association of REALTORS joined with state affiliations to challenge the CDC moratorium. Until those cases are settled at the Supreme Court, Covid cases go into sharp decline, or Oct. 31 - whichever happens first - the moratorium will stay in place.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #MarketCorrection #MarketShift #Flattening #LeaseShortage #moratoriums