Interest Rates – how they effect the market

Interest Rates – how they effect the market

Mortgage, interest rates and how the market responds

Mortgage rates from 2011 to 2019

Mortgage rates from 2011 to 2019

Mortgage rates from January 2011 to January 2019 for both the 30 year and 15 year fixed. 

Note: This graph does not capture the fact that since January of 2019, mortgage rates have declined even further as the the Federal Reserve lowered interest rates.

How this effects the market is two fold.  Sellers have more buyers qualifying for a mortgage and buyers have more buying power.  The net result is improving home selling and buying results.

This is a great time to buy or sell because competition for properties is lower during the holiday season and interest rates are low.

Contact me to discuss how you purchase or sell a home.  Make a great investment.  Secure your financial future and take advantage of the marketplace.



Texas Economy 2019 = Great Time to Buy or Sell Real Estate

Texas Economy & Real Estate

Texas Economy 2019 = Great Time to Buy and Real Estate

How does the booming Texas economy and job creation impact your decision to buy a home, sell a home, downsize or upsize?  

My dad always stressed that homes are the singular best investment in securing a financially sound future.  Obviously, our housing needs differ from single family to town homes but the basic premise is the same.  Homes are a great investment because valuation rises (providing increased equity), mortgage obligations (loan) remain the same and are outpaced by inflation and the tax benefits of home ownership is clear.  

An interesting side note is that home ownership seems to also provide a sense of accomplishment, stability and an increase in earning potential.  These side benefits are real and have probably been dissected by social psychologists to uncover the underpinnings.  Unfortunately, that is outside of our current discussion but I may go ahead and do a future blog on the subject as it would seem interesting to me, at least.

In a previous blog, we reviewed the housing sector growth and market conditions.  This blog is an explanation of what is driving that growth and why investing in real estate is a great financial move.  So how is the Texas economy doing in comparison to national averages and why is Texas uniquely poised to offer more stability in the housing market?  

From the period of September 2018 to 2019, the Texas economy added more than 300,000 non agricultural jobs.  This equates to an annual growth of over 2.4 percent which is favorably compared to nationwide job growth of 1.4 percent.  The non government sector added 290,500 jobs which is an annual growth rate of 2.7 percent rivaling the nationwide growth rate of 1.6%.

Surprisingly all industries, with the exception of the information industry, showed a marked increase in growth.  The construction industry has ranked first in job creation followed by leisure and hospitality, other services, financial sector, manufacturing, education, health services, transportation, warehousing and utilities.  This makes total sense in that supporting the demand for housing, offices and other industries are directly impacted by people movement and increase in demand.

The government produced the largest growth in jobs followed by trade, professional and business services, education and health, leisure and hospitality and finally manufacturing.

The Texas Metropolitan areas ranking the highest in job creation were Dallas-Plano-Irving area followed by San Antonio-New Braunfels;  McAllen-Edinburg-Mission; Houston-The Woodlands-Sugar Land and finally Killeen-Temple-Fort Hood. 

The Dallas-Plano-Irving area ranked as first with 3.9 percent job growth since September 2018.  That is fantastic for those of us who reside here as respects to our real estate investment.  As noted in the previous blog, the real estate market in the North Texas area has shown a “market correction”.  Please read previous blog.  However, it is still considered a “seller’s market”.  What makes it a “buyer’s market” as well, is the sharp drop in interest rates and the fact that homes are staying on the market longer than two years ago.  Both of these conditions make this a great market to sell and buy.  This is unique. 

I am a Real Estate Broker practicing in the North Texas area which encompasses Dallas-Plano-Irving areas.  We have lenders uniquely poised to offer great mortgage packages to first responders, first time home buyers and those with lower credit scores.  We also offer assistance in offsetting closing costs in order to make the buying and selling experience easier financially.  Contact me at 214 876-6777 to discuss your specific needs and check out my website for more information.  We look forward to hearing from you.

Is it a seller’s market or a buyer’s market?

how does interest rate impact housing?

Interest Rates and Housing

Is is a seller’s market or is it a buyer’s market?  Not an easy response to the question but as in anything else financial it’s complicated. Interest rates are going down.  This is not news as they have been for some time.  But how does that effect the housing market?  How does the interest rate drive the process of buying and selling your home? How do the interest rates impact the number of new home construction? 

The numbers: New home construction has gone up by 12% in August of 2019 making it the best single month increase since 2007.  This signaled that the downturn in the beginning of 2018 may be over and that recovery is at hand for the housing market. Moreover, permits for building new homes has also risen by 8%,

What about the concerns about the potential impact of trade wars on consumer confidence and more to the point the slowing economic growth coupled with lower income taxes on corporations?  As these factors continue to trouble economists, the housing market is being propelled by reductions in interest rates.  The drop in interest rates, has eased the affordability factor faced by home buyers. 

In line with these developments, builders are focusing their energies by providing more entry level housing but the short supply of developable land in desirable locations makes this task difficult. In my practice (the North Texas market), I have assisted home buyers with negotiating with new home builders to get my client the best selling price and adding builder incentives as well.  But there have been instances when purchasing pre-owned homes was the best option.  Of course, the choices are situational and no single course of action is best.  

Real estate professionals often differentiate market conditions by referring to them as seller markets or buyer markets.  There are times, when we should talk about them as being both. The current environment is the case in point.

In 2017, the real estate market was rife with multiple offer situations, offer and counter offer warfare and climbing price points.  Most homes were snatched up prior to going to market as a “coming soon” or at listing and within 30 days of their appearance on MLS (Multiple Listing Service).  The biggest issue was whether the property would actually appraise as market value (what a buyer would be willing to pay) and comparative market analysis clashed. 

Since 2017, we have had a “market correction” of sorts.  Property values are stabilizing and properties are lingering in the marketplace for longer periods of time.  Multiple offers are rare and competition is down.  

So is it a seller’s market or a buyer’s market?  My thought is that it is both because of lowered interest rates.

Sellers are currently listing their homes at lower price points and are willing to reduce the price point as the property sits longer on the market.  However, It is still a seller’s market because the number of days on the market are not exorbitant.  The panic most home sellers face is due to a large degree on the recent past and not necessarily on true market conditions.  I caution sellers to lower expectations of a fast sell and the need to jump on the first offer unless it is a good one.  In determining whether it is a good offer, offered price is a big consideration but so are other considerations inclusive of type of loan, buyer viability, lender and a multitude of other factors.  A measured realistic approach is best but at times difficult and counterintuitive.

It is also a buyer’s market because seller’s are more attuned to market activities in the recent past and more likely to jump at offers.  Property tenure on the market is higher than previous years and even seasoned real estate professionals are not grasping that this in itself is a market correction.  It is a buyers market chiefly because interest rates make these homes more attainable.

I am a real estate broker practicing in the North Texas area.  Please contact me to discuss your options.  My commitment is to provide you with honesty, integrity and information.  





Buyer/Seller Temporary Residential Lease

Buyer/Seller Temporary Residential Lease

Buyer/Seller Temporary Residential Lease

Buyer/Seller Temporary Residential Lease – these are great tools for providing temporary housing to the buyer or seller under specific circumstances.  For example, the seller is willing to close but needs additional time to pack or a buyer needs to move into the property prior to closing if the lease is up on their current housing. What obligations does the holder of a temporary lease have to the new owner?  The responsibilities set out are not remarkably different from a normal lease.  

For the purposes of this discussion, the person who will be temporarily occupying the property is the tenant and the person granting permission to occupy the property will be the landlord.

It is extremely important that you read these documents carefully (as all documents relating to real estate transactions and to ask questions) ; weigh the possible issues that may arise and discuss your concerns with your agent or broker. This is a brief summary and applies to Texas.  Every State is different.  This blog is a brief discussion of an important topic.

Notably both the Buyer Temporary Residential Lease and the Seller Temporary Residential Lease are for a period not to exceed 90 days.  Much like a lease, they contain the term of occupancy; they provide for consideration (something of value); a security deposit as well as other terms and conditions such as insurance, pets, utilities, holdover ),  etc… 

The term holdover refers overstaying the term of the temporary lease and is found only in the Seller’s Temporary Lease agreement.  A disproportionately large daily amount is usually placed in that area to discourage the tenant from overstaying the lease. 

It is very important that good communication by the two parties are established so as to make sure that proper insurance, utilities and oversight is maintained.

While, this is often a great tool that may help both parties reach a good negotiated contract; there are times when things can go very wrong.  In my practice, it is stressed to my client that pre-closing walk through as well as a walk through after premises are vacated are essential.  All deficiencies must be documented and documentation of these conditions relayed in writing to the other party, to the agent and to the title company. 

If the tenant decides to move out prior to the agreed date on either document; doing so must be in writing and documented to all parties to the transaction inclusive of the title company.  The landlord must be made aware so that a final walk through can be completed.  Insurance and resumption of utility services activated and return of the security deposit is made.  The landlord is under no obligation to pro rate the rent if the tenant decides to vacate early.

A case study: a seller has a temporary lease but decides to vacate early.  He neglects to notify the landlord who just happened to be in town and noticed that the premises had been vacated.  When he entered the premises, he noted that the water line to the refrigerator was not properly capped.  He then puts a plastic bag over the line and fastens it and leaves to go back home.  The plan is to move in two weeks later. The family returns with their moving truck to a flooded first floor. So who is responsible? Clearly the tenant should have notified the landlord that he was vacating and it is also clear that he caused the damage when he disconnected the fridge without properly capping the water line.  But, there is contributing negligence on the part of the landlord since he was aware that the tenant did not cap the water line and did nothing to mitigate the damage. 

I am a Real Estate Broker in the North Texas area.  It is difficult to counsel the landlord on these issues but in my practice, my greatest concerns are when a buyer is seeking to move in prior to closing.  Of course, every decision is a case by case basis and much depends on a multitude of factors and options. 

Please feel free to contact me if you are interested in buying or selling in the North Texas area.  We also provide assistance to landlords and tenants in leasing and renting.

I hope that you have found this blog helpful. 



Transitioning from the military to civilian life

Transitioning from the military to civilian life

Transitioning from the military to civilian life

Transitioning from the military to civilian life.  

Congratulations on serving your country.  Our gratitude and appreciation is overwhelming but you need to find your place in a civilian workplace and permanent residence.  The first order of business is to decide where you go from here.

Identify the special skills you have attained while serving our great nation.  Jobs are plentiful and many companies are committed to providing employment opportunities to you specifically.  FedEx, for example, is a large company interested in your skills and discipline as well as numerous smaller firms and federal, state and local government offices that would welcome your employment.

Writing a great resume and cover letter is very important but just as important is practicing interview skills.  Pay special attention to questions that you are likely to be asked and always bring your training and skills into the conversation.  Dress for success – your appearance during the first second is key. Your ability to connect the job you are seeking with your experience, is also important.  Look up information on your prospective employer.  Know something about the company and bring that into the conversation.  Ask questions about the job and what success in that job looks like.  Learn from prior interviews, what went well and what you could improve.  Ask for feedback good or bad.  Make sure that you provide the interviewer with the sense that you are very interested and looking forward to their offer.  Ask when they will be making a decision.  Review on line tutorials for further hints and interview tips.  

Resources to consider:

     – Large Companies: and  Both are excellent websites to begin your search.

     – Government Jobs:  

                  Feds Jobs –

                  Federal Government –                            

                  U.S. Dept. of Veterans Affairs –

     – Self Employment

                 U.S. Small Business Administration –

                 Veteran Women –

                 Vetfran –



I am a real estate broker who has brought together a great team of dedicated professionals to cater to your needs.  We will assist in locating a great lender that provides loan assistance, specializes in loan products that are structured for veterans.  We are a full service brokerage bringing together many disciplines to make the home buying and selling process as stress free as possible.  How? by providing information every step of the way and acting as both your adviser while serving our fiduciary duty.  Honesty, Integrity and information every step of the way.  Your needs and interest come first – every time.

Contact me – how can i help?          


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