Blue Leaf agent and military veteran, Derick Townsend, sets Blue Leaf single month new homes sales record in June by helping military personnel utilize the VA benefit. We congratulate him on his accomplishment and wish him continued success in helping people from the military who want to become home owners. VA loans are one of the few opportunities left whereby a home buyer can finance 100% of the sales price. Of course, to be eligible for the VA benefit, you must be active or retired military from any branch of the armed services. In light of the July 4th holiday, we are delighted to have an agent like Derick at Blue Leaf Realty who is dedicated to helping soldiers purchase a home. On behalf of Derick and everyone else at Blue Leaf Realty, I would like to say thank you to those in the military for their service!
Taking the Plunge
February 23, 2012
Buying A Home?
The decision to buy a home is not driven by price and value alone. It is much more complicated. In fact, the decision to buy a home has underlying drivers that are conscious and subconscious, rational and emotional, and simple and complex all at once. While a would-be buyer is attempting to deal with price and value, he is also forced to grapple with much more powerful issues. Psychological issues such as status, safety, a desire to belong, and perhaps the most powerful driver of all, the eagerness to move forward, to get to the next stage in life. All of these very powerful thoughts and emotions are poured into a cauldron to simmer and then stirred and mixed thoroughly for good measure. This is when the going gets tough! At one moment, price and value are the most important driver for a would-be home buyer. In the very next moment, status and security are the overriding forces behind the decision to purchase a home. The would-be home buyer must be ready to let these powerful emotions and thoughts coalesce into a well-formed decision to buy. When the right balance is struck between the rational and the emotional systems we call upon to make important decisions like buying a home, then, and only then, is a buyer ready to make the commitment necessary to find a home, put it under contract, spend money on deposits and inspections, and ultimately sign on the dotted line.
Pulte Homes Opens New Community in N. Fort Worth
December 14, 2011
Great news — Pulte Homes has completed West Fork Ranch, a new master-planned community in North Fort Worth and Keller ISD. West Fork Ranch will offer Texas sized amenities to home buyers in the Alliance Corridor. This great new community is very convenient to wonderful shopping, restaurants and schools. BlueLeaf Realty would love to show you why North Fort Worth and West Fork Ranch is a great place to live, work, and play.
The Next Wave of Home Buyers
November 6, 2011
The next wave of home buyers is building momentum and it may be a tsunami-size wave. But will it be the housing industry’s salvation? Some, like me, are speculating that it will be but only time will tell. Overall, job growth is important (a key component to a sustainable and robust real estate recovery), but a more important trend is the current generational shift underway whereby echo-boomers are beginning to influence every facet of the US economy from marketing and advertising to real estate. Their influence has grown steadily as they come of age and begin to consume more and more. Currently, this group’s buying power is estimated to be $200B annually, and this figure will only grow larger over the next decade. As 80M gen Ys, roughly 25% of the US population, dig deeper and deeper into the workforce many changes will take place. Standing between them and the corner offices, however, will be their own parents who have maintained a tight rein over corporate America and local, state and national government for decades. Watching how this unfolds will be interesting as one group, the baby-boomers, seeks to protect what they have while the other group, the echo-boomers, simultaneously seeks to obtain what it wants.
Figuring out what the gen Y group wants will be a major challenge for all industries, including real estate. Right now, for example, this group is driving much of the growth in multi-family. As a result, multi-family has experienced a boom. But what is the 18-32 year old demographic really looking for. Determining what they want, of course, is very important and starts with understanding how gen Y differs from gen X and their baby-boomer parents. Some research suggests the following characteristics of gen Y:
- ethnically diverse
- better educated
- tech savvy
- charitable
- very social
- environmentally conscious
- pet friendly
- very active
Given these characteristics, residential builders are aiming to adapt their construction to fit gen Y. What is this going to look like? It could mean building communities that have wi-fi hot spots, walkability, mixed-use, smaller floor plans, more open space, amenities that support an active and social lifestyle, high-end finishes, and access to outdoor spaces. In a nutshell, amenities that accommodate a balanced work and play lifestyle will be better suited to gen Y. Today, this group is driving a boom in multi-family but soon will make the decision to own versus rent. When they make this decision will depend on many factors. At that time, however, the next generation of home buyers will drive the housing recovery.
Just like all retailers, builders and developers are taking note of the next wave of home buyers, but appealing to gen Y will not be easy. In fact, the tendency to guess at what this group deems important will not work. Products that are embraced by gen Y will have to genuinely reflect their own tastes and lifestyles, not the tastes and preferences of the preceding generations. This will be as true for real estate as it is for technology products, etc. Like it or not, the torch has been passed and gen Y will lead the next renaissance in real estate. In fact, it has already begun – the next wave of home buyers is gaining momentum.
Avoid Costly Home Buying Mistakes
September 23, 2011
Miss the Pitfalls – Avoid These Common Home Buying Mistakes
Purchasing a home is a big decision, and the process of buying a home can be stressful. As such, there are some common mistakes that are inherent in the home buying process. Fortunately, avoiding these mistakes is easier than you might think as long as you know what they are. Below are some of the common home buying mistakes:
1. Not doing your homework. Because everyone leads very busy lives, it’s easy to forgo doing the research. This mistake can cost you in the long run. For instance, if there is a vacant field behind a home you like and you fall in love with the idea of watching the cows graze while the sun is setting, just remember that lovely field could one day become a bustling retail development. Figuring out the zoning on the adjacent raw land should be a high priority for you and your real estate professional. Don’t hesitate to ask your agent to investigate if you don’t have the time.
2. Not choosing the best location. Although most buyers think about location in general, a common mistake is that many buyers do not think about it enough. It’s very difficult to over think location when it comes to real estate. Factors to consider should include, but not be limited to, such things as proximity to schools, jobs, retail providers, and major roadways.
3. Not having the home inspected. Many buyers make this mistake with new homes and existing homes. In both cases, you should pay to have your home inspected. The cost of the inspection is a small percentage of the sale’s price, so it is always smart to purchase a home inspection from a licensed inspector. You should also talk with your real estate agent to make sure your offer to purchase a home includes an option period giving you the right to terminate and receive a full refund of your earnest money should you do so.
4. Not hiring a real estate agent. Buyers, especially first time home buyers, sometimes make the mistake of deciding to go it alone. A good buyer’s agent brings many talents to the table, and the listing agent and seller have already agreed to pay a portion of the commission to the agent who brings a buyer. This means no out-of-pocket expense to the buyer in exchange for a wealth of expertise and knowledge about location, resale, negotiating, and market conditions, not to mention fiduciary duties to the buyer. Ask an agent if he or she will agree to represent you exclusively and a world of opportunities will open up to you. An agent should be willing to show you multiple properties in your price range, so don’t settle for mediocre service! If you’re buying your first home, find someone who enjoys working with first time home buyers. I’m biased, of course, but I stongly recommend Liana Oram – she is one of the best and takes very good care of 1st time home buyers!
5. Not being patient. A common mistake is for buyers to rush through the home buying process or make an offer on the rebound. If you don’t get the house you really thought you wanted, it might be a good idea to wait at least 24-48 hours before you make an offer on another home. Rushing into a home purchase is never a good idea and usually results in the buyer overpaying. It’s important to remember that there are always other nice homes on the market. This is not to say that you shouldn’t be aggressive about a home if you really like it. Chances are good that if you really like it, someone else really likes it too.
6. Not buying a home. The final mistake many people make is not buying a home at all. If you are in a position to buy a home, there are too many good reasons why you should buy rather than continuing to rent or live in a home that’s no longer suited for your family. However, being able to obtain an exotic mortgage to squeeze into a home you can’t afford is just as big a mistake as not moving at all, so always weigh your options carefully and find a lender and real estate agent who you can trust. Happy house hunting!
Realty Express 