Amanda LaMont 747 Realty

01/13/2024

Make sure to open your mail.

01/13/2024

03/24/2023

The U.S. Secret Service has observed a sharp increase in reports of real estate fraud associated with vacant and unencumbered property. Criminals are posing as real property owners and through a series of impersonations are negotiating the sale of properties which are vacant or lien free. Criminals are using similar techniques that continue to be deployed in real estate specific Business Email Compromise (BEC) schemes, to include open-source research. Visit the Secret Service website here for guides on BEC’s and other cyber-related financial crimes.

01/26/2023

2023 paint…

The paint predictions include neutrals, soothing blues, and warm earth tones.
Each fall, paint companies and interior design experts predict the colors that will shape our homes in the coming year.
BEHR color of the year is Blank Canvas DC-003.
Blank Canvas is a hopeful and welcoming warm white with limitless possibilities to help transform your vision. Let the dreaming and planning begin!

01/12/2023

Dallas-Fort Worth’s 38% Decline in New Home Construction Is the Largest Since 2009
A lower level of homebuilding could bring lower costs for buyers and help relieve supply-chain issues.

The end of 2022 marked the largest decline in quarterly North Texas home starts since the Great Recession as buyers pulled back due to higher mortgage rates and affordability challenges.

Builders began construction of almost 8,000 new homes in Dallas-Fort Worth in the fourth quarter, down 38% from a year ago when they started just over 12,900 homes, according to a new report from Dallas-based housing analyst Residential Strategies.

Existing Dallas-Fort Worth single-family home sales also saw their biggest decline in more than a decade, with a 30% fall from November 2021 to 2022 amid the higher mortgage rates. As of November, about 83,000 single-family homes had sold in Dallas-Fort Worth, according to a Texas Real Estate Research Center at Texas A&M University report based on data from REALTOR® associations. That represents an 11% decline from the same period in 2021.

Source: Dallas morning news

01/10/2023

Multigenerational Household

Is it for you?

A multigenerational household is a home with two or more adult generations. The number of individuals choosing multigenerational living has increased over the past 50 years.

If you are considering this option, it could help you on your homeownership journey and may provide you with other benefits along the way.

Living with Loved Ones Could Help You Achieve Your Homeownership Goals

According to the Pew Research Center, the top reason people choose to live together today is financial.

A recent study from Freddie Mac also finds more people are choosing to buy a home together so they can save money in the home-buying process. As the study says:

“. . . an increasing percentage of young adult first-time homebuyers are relying on support from older generations, including their parents, to buy a home together.”

For these individuals, combining their resources can help them achieve their dream of buying and owning a home. By pooling their incomes together to make that purchase, they may be able to afford a home they couldn’t on their own.

Other Key Benefits of Multigenerational Living

Not to mention, living in a home with loved ones can have other benefits too, like giving you more quality time to spend together. Darla Mercado, Certified Financial Planner and Markets Editor for CNBC.com, explains how this living arrangement can help on a personal and financial level:

01/09/2023

NATIONAL MARKET UPDATE

Construction Spending on residential projects in November was a tick below October’s annual rate but 5.3% higher than a year ago. The slowdown was in single-families. Multifamilies were up 2.4% for the month.

Freddie Mac: “inflationary pressures are easing and should lead to lower mortgage rates in 2023.” Then, “a strong job market and a large demographic tailwind of Millennial renters will provide support to the purchase market.”

Zillow reports that, with conforming loan limits going up to $1,089,300 in high-cost counties, more than 2 million homes nationwide no longer need jumbo financing, which often comes with higher credit criteria and fees.

Source: Supreme Lending

01/09/2023

How To Prevent Frozen Pipes

Emerson recommends the following steps to prevent frozen pipes from damaging your home or business.

Heating cables: Installing electric heating cables on your pipes is one way to prevent frozen pipes. Combined with an integrated thermostat, this system automatically turns on when temperatures drop below freezing. Heating cables provide the needed warmth to keep pipes from freezing, but not enough to heat the water inside of the pipes. The thermostat controls the system, powering on the cable only when needed. For the best performance, pipe sleeves can be installed over the cable to help retain heat, and plastic pipes can be wrapped in aluminum foil so the heat is dissipated evenly in the pipe.
Basic maintenance: Prevent frozen pipes with some simple, inexpensive steps. For example, as long as the water’s flowing through the pipes, even if it is just a trickle, there’s less chance of it forming into ice. Let water drip from the faucets served by exposed pipes on cold days when your home is at risk. Plumbers recommend running water from both the hot and cold taps. Also, keep your thermostat set above 55° F. A constant circulation of warm air may help prevent burst pipes. Leaving cabinet doors open and using a fan to circulate warmer air can help, too, if kitchen or bathroom pipes lie near exterior walls. Emerson also recommends draining and disconnecting garden hoses before cold weather arrives.
Sleeves and seals: Seal cracks, holes, windows, doors, and other openings along the exterior walls with sealant, caulk, or insulation to prevent frigid air from penetrating the wall cavity. On the interior, insulate and seal attic penetrations such as partition walls, vents, plumbing stacks, and electric and mechanical chases. Pipe sleeves could be useful for pipes that run through the attic or crawl space. The foam pieces should be tight against each other, and users should seal the slits and joints with duct tape. Exterior faucets can also be insulated with foam faucet covers.
Source: National Association of REALTORS®

01/07/2023

What is a Homestead Exemption
A homestead exemption is an exemption that removes all or a portion of value from your residence homestead as authorized by the State or adopted by a local taxing unit.

A homestead exemption also limits the increase of your appraised value to 10% annually. This limitation is commonly referred to as a "homestead cap".

A homestead cap may exceed the 10% increase if additional improvements, land, or extensive renovations are added to your residence homestead.

Qualifying individuals must submit an application in order to receive the homestead exemption. This is a one-time application; however, you must complete a subsequent application if requested by the chief appraiser in order to continue benefits of a homestead exemption.

This is FREE!! Do not pay a service fee for this to anyone.

Message me if you have questions.

01/05/2023

The general economy update for 2023.

Inflation will likely stay elevated through 2023.
The Federal Reserve continues raising interest rates to attempt to rein in inflation. Even if successful, that success will not likely be reflected immediately and completely.
If a recession occurs, consumer prices would fall faster than otherwise due to a lack of consumer demand related to a loss in consumer income.
Inflation could be pushed higher if supply constraints from China and Europe increase or if volatile energy prices are higher than expected.

Housing info..

The mortgage interest rate’s annual average will likely be higher in 2023 than it was in 2022.

Existing single-family rent and price growth will moderate with the potential to turn negative on a year-over-year basis.

Existing-home sales will likely be lower in 2023 than they were in 2022. Elevated mortgage rates combined with elevated asking prices will slow sales even as price growth moderates.

01/05/2023

Forecast for Texas housing for 2023 is based upon 4 major factors, the outcome will dictate how the market shifts.

China’s zero-COVID policy and responses to ongoing public protests, which are hampering the global economy.
Russia’s war against Ukraine, which has disrupted the global grain and energy markets, increasing instability across the globe.
Europe’s energy situation (related to Russia’s war), which is especially dire and could worsen depending on the severity of winter.
The outcome of the Federal Reserve’s attempts to control inflation through higher interest rates.

01/02/2023

New Year, New You, NEW HOUSE! reach out to get the process started.