Home: Should I Stay Or Should I Go?

Are you trying to decide between staying in your current home or moving into a new one? You are not alone. Whether you’re looking to get out of cramped spaces or we want to be in a different location, the choice isn’t always easy. Sometimes, moving is the right answer, while others it’s staying in your current space that’s the best option.

When Moving Makes The Most Sense

Moving is a smart choice for many life circumstances. A few of these include if you are getting married and blending existing families. You would not, for example, want to push stepsiblings into a situation where they had to share a bedroom. Similarly, if you are having a new baby, their older sibling may need a bedroom of their own. Talk to your North Texas Top Team agent today for more information on current selling prices in your preferred community.

Another attractive reason to move is if you prefer to be in a higher-performing school district. While all public schools monitor teacher qualifications and are obligated to provide certain services, such as academic assistance and reduced lunches, no two districts are alike. Schools and higher-earning areas are more likely to have specialized classes, such as robotics or culinary arts, than those in impoverished neighborhoods.

If you need more space, you may have already considered adding a room. However, when you consider that in addition can easily cost $80,000 or more, according to Ownerly, it’s easy to see that moving may be the most economically feasible option. This is especially true if interest rates are lower now than your current mortgage, which helps you keep your monthly payment down.

If you have yet to look at loans and repayment terms, there is never a bad time to do your research. And, if you happen to be a veteran, you may find that you qualify for VA loans that can help you afford more home with a lower down payment. Guaranteed Rate explains that veterans may enjoy no down payment loans with better terms (lower interest and APR) than traditional financing. Do keep in mind, however, that a VA loan is only good for primary residences.

Stay Put For Now

Staying in your current home isn’t always a bad idea. This is especially true if the local market is inflated and if you only require minor modifications to make your home comfortably livable. A few examples of these types of upgrades include new paint, flooring, or kitchen appliances.

For those with poor credit, trying to get a home loan might not be wise. This is because lenders base mortgage rates partly on credit score, which Experien explains is typically considered good from the high 600s and up. For the best possible rate, you’ll want an excellent credit rating, which, depending on the type of credit score your lender uses, starts at around 781.

When your goal is to build equity, it’s much easier to do that in a home you already own. The exception here is if you are moving to a smaller house and have enough equity to cover the vast majority of your new mortgage.

Making the choice to move means considering many factors. Sometimes, the decision is easy, such as when you’re expanding your family or need a better school district. However, you may not want to count out staying in your current home temporarily while you work on your credit or make small modifications that will help you resell value later on while improving your current quality of life.

Are you looking for a realtor? North Texas Top Team has more than a dozen professional agents to choose from. Call 469.759.3899 today and get matched to the right agent for you.

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When saying "I Do" doesn't turn out the way you thought it would, you may find yourself with a ton of stress, worry, and problems.  Selling your house is likely one of those things that needs to be done during this difficult time.  As you may imagine, when two people can't agree on anything else - they may not be able to agree on what to do with the house either.

That's why we want to provide a free e-book "Selling Your House During a Divorce".  This free resource will give you some guidance on the things that can be done to help sell the house during this difficult time. 

• You need to determine the pricing so that you can see if one spouse could possibly keep the house.
• You need to determine how much cash will be available at closing, so everyone understands the financial impact of selling.
• You need to decide if it's best to sell the house as-is, or make some minor updates to maximize the sales price.

Share this post today with someone who may need it.  They can request their FREE e-book "Selling Your House During a Divorce" and start the process of getting on with their life right away.

Click here to request our Free E-Book  Selling Your House During a Divorce

When saying "I Do" doesn't turn out the way you thought it would, you may find yourself with a ton of stress, worry, and problems.  Selling your house is likely one of those things that needs to be done during this difficult time.  As you may imagine, when two people can't agree on anything else - they may not be able to agree on what to do with the house either.

That's why we want to provide a free e-book "The Ultimate Guide to Selling Your Home".  This free resource will give you some guidance on the things that can be done to help sell the house for the most money. 

• You need to determine the pricing so that you can see if one spouse could possibly keep the house.
• You need to determine how much cash will be available at closing, so everyone understands the financial impact of selling.
• You need to decide if it's best to sell the house as-is, or make some minor updates to maximize the sales price.

Share this post today with someone who may need it.  They can download the free e-book "The Ultimate Guide to Selling Your Home" and start the process of getting on with their life right away.

Click here to download our Free E-Book  The Ultimate Guide to Selling Your Home

So you want to sell your home? There are a few important things you'll need to do. First is... you guessed it, hire a REALTOR®! 

"Why do I need to hire a REALTOR®?" This is a common and valid question we get all the time. The truth is, the average seller spends a few hours a month looking at homes online. Would you trust your doctor with that much experience? Your mechanic? Your hairstylist? Whether it’s insight on pricing, building materials, or today’s sought-after design touches, agents have down-in-the-trenches expertise you simply can’t get from a casual web search.


Whether you’re selling your first, second, or third home, a good agent can usually negotiate for a higher price than you ever could on your own. Plus, agents are contractually obligated to protect your financial interests.

North Texas Top Team, Realtors    |    (469) 759-3899    |    Melissa@NorthTexasTopTeam.com

Click here to get your FREE Home Seller's EBook on the Ultimate Guide to Selling Your Home

We GUARANTEE that we will
sell your home in 90-days
or we will sell it for FREE

The North Texas Top Team, REALTORS will GUARANTEE to sell your home in 90 days! If not, we'll sell it for FREE! That's right... You can get your home marketed and sold for FREE. We offer an extensive in-home evaluation of what it takes to get your home on the market and sold quickly, easily and for more money. Let our team of real estate experts get to work for you. We have buyers, and our home marketing system gets you top dollar. In our business, we always put the client first. With that in mind, we don’t just promise to sell your home, we GUARANTEE it. This could potentially save you thousands of dollars.

Selling your home fast means top dollar for YOU!

When a home sits on the market, many buyers wonder why no one else is buying it. They start to think something is wrong with the property, or worse, a buyer might think you are starting to get desperate to sell.  Any of these could result in a lower priced offer from a home buyer.  

However, when you have a shorter marketing timeframe you will have less stress and more money.  It’s stressful to keep the house clean and ready to show, and to leave the home for all showings.  It’s stressful to have strangers inside your home.  It’s stressful to have uncertainty about the date of your move. All of this stress can be reduced – while getting you more financial options! Our aggressive marketing plan will generate interest from home buyers.

Our 90 Days or Free Listing Guarantee is as simple as this

We guarantee to sell your home within 90-days or we will sell it for FREE. If your home is not under contract within 90 days from the day we activate your listing, we will continue to market it aggressively but our office won’t charge a commission for our listing agent - zero commission.  We put our money where our mouth is. Instead of making empty promises, we give you a written guarantee of performance.  If we don’t sell your home in 90-days, you pay us absolutely nothing at all.

Great Service Guarantee

Not only will the North Texas Top Team, REALTORS get your home sold quickly for top dollar, we also provide great service.  Our expert agents will communicate with you on a regular basis. While other agents may just stick a sign I the yard, or put your house in the MLS, the North Texas Top Team, REALTORS guarantees that we will stay in touch with you on a regular basis.  We will show you the marketing materials. We will provide feedback from home buyers. We will aggressively market your home.  If you are unhappy with our services, you can terminate the listing agreement at any time.

Get peace of mind in the home selling process with North Texas Top Team, REALTORS

If you would like more information about our 90 Days or Free Listing Guarantee program, click here.  Some restrictions apply.

Winning as a Buyer in a Sellers’ Market

Some Highlights

·         Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle.

·         Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers.

·         Let's connect to make sure you're armed for victory in the housing market this season.

Thinking about Building a New Home? Your Agent Is Critical

Some Highlights

·         A real estate professional is an expert who can advocate on your behalf throughout the process when building a home.

·         Agents help you understand key steps, like choosing upgrades and managing negotiations, while staying within your budget from start to finish.

·         If building is the right option for you, let’s connect so you have a trusted real estate professional who can help you successfully navigate the path to your dream home.

How Much Leverage Do Today’s House Sellers Have?

The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason long-time searchers haven’t made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.”

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party's leverage is based on its ability to award benefits or eliminate costs on the other side.

In today’s market, a buyer wants three things:

1.    To buy a home

2.    To buy now before prices continue to appreciate

3.    To buy now and take advantage of historically low mortgage rates while they last

These three buyer needs give the homeowner tremendous leverage when selling their house. Most realize this leverage enables the seller to sell at a good price. However, there may be another need the seller has that can be satisfied by using this leverage.

Here’s an example:

Odeta Kushi, Deputy Chief Economist at First American, recently identified a situation in which many sellers are finding themselves today:

“As mortgage rates are expected to remain near 3%, millennials continue to form households and more existing homeowners tap their equity for the purchase of a better home…Many homeowners may want to upgrade, but do not for fear that they will be unable to find a home to buy.”

She then offers a possible solution:

“While the fear of not being able to find something to buy will not disappear in a limited supply environment, new housing supply can incentivize existing homeowners to move.”

There’s no doubt many sellers would love to build a new home to perfectly fit their changing wants and needs. However, most builders require that they sell their house first. If the seller sells their home, where would they live while their new home is being constructed?

Going back to the concept of leverage:

As mentioned, buyers have compelling reasons to purchase a home now, and many homeowners have challenges to address if they want to sell. Perhaps they can make a deal to satisfy each party’s needs. But how?

The seller may decide to sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a pre-determined length of time while the seller’s new home is being built. A true win-win negotiation.

Not every buyer will agree to such a deal – but you only need one.

That’s just one example of how a seller might be able to overcome a challenge because of the leverage they have in today’s market. Maybe you feel a need to make certain repairs before selling. Perhaps you need time to get permits or approvals for certain upgrades you made to the house. Whatever the challenge, you may be able to work it out.

Bottom Line

If you’re considering selling your house now but worry a huge obstacle stands in your way, let's connect. Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.

Are There Going to Be More Homes to Buy This Year?

If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market later this year. Let’s break down the three key places they’ll likely come from as 2021 continues on.

1. Homeowners Who Didn’t Sell Last Year

In 2020, many sellers decided to pause their moving plans for a number of different reasons. From health concerns about the pandemic to financial uncertainty, plenty of homeowners decided not to move last year.

Now that vaccines are being distributed and there’s a light at the end of the COVID-19 tunnel, it should bring some peace of mind to many potential sellers. As Danielle Hale, Chief Economist at realtor.com, notes: 

“Fortunately for would-be homebuyers, we expect sellers to return to the market as we see improvement in the economy and progress against the coronavirus.”

Many of the homeowners who decided not to sell in 2020 will enter the market later this year as they begin to feel more comfortable showing their house in person, understanding their financial situation, and simply having more security in life.

2. More New Homes Will Be Built

Last year was a strong year for home builders, and according to the National Association of Home Builders (NAHB), 2021 is expected to be even better:

“For 2021, NAHB expects ongoing growth for single-family construction. It will be the first year for which total single-family construction will exceed 1 million starts since the Great Recession.”

With more houses being built in many markets around the country, homeowners looking for new houses that meet their changing needs will be able to move into their dream homes. When they sell their current houses, this will create opportunities for those looking to find a home that’s already built to do so. It sets a simple chain reaction in motion for hopeful buyers.

3. Those Impacted Financially by the Economic Crisis

Many experts don’t anticipate a large wave of foreclosures coming to the market, given the forbearance options afforded to current homeowners throughout the pandemic. Some homeowners who have been impacted economically will, however, need to move this year. There are also homeowners who didn’t take advantage of the forbearance option or were already in a foreclosure situation before the pandemic began. In those cases, homeowners may decide to sell their houses instead of going into the foreclosure process, especially given the equity in homes today. Lawrence Yun, Chief Economist at NAR, explains:

“Given the huge price gains recently, I don't think many homes will have to go to foreclosure…I think homes will just be sold, and there will be cash left over for the seller, even in a distressed situation. So that's a bit of a silver lining in that we don't expect a massive sale of distressed properties.”

As we can see, it looks like we’re going to have an increase in the number of homes for sale in 2021. With fears of the pandemic starting to ease, new homes being built, and more listings coming to the market prior to foreclosure, there’s hope if you’re planning to buy this year. And if you’re thinking of selling and making a move, doing so while demand for your house is high might create an outstanding move-up option for you.

Bottom Line

Housing demand is high and supply is low, so if you’re thinking of moving, it’s a great time to do so. There are likely many buyers who are looking for a home just like yours, and there are options coming for you to find a new house too. Let’s connect today to see how you can benefit from the opportunities available in our local market.