Is Your Home in a Flood Plain?

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FloodPlainMapDo you know if your home is in a Flood Plain?  This is starting to become an issue and it can either delay or destroy a closing.  Bruce and I have had 2 instances lately on house deals found to be in the flood plain.  The first one was a small little acreage home in Eustace Texas.  You wouldn’t think an acreage property would be in a flood plain.  The house was close to the road.  On the very back portion of the property, there was a creek.  We didn’t think anything about it until the survey was done and it showed a portion of the property in a flood plain.  There were several options for our buyer

  • to close on time, purchase Flood Insurance and then wait for the Letter of Map Amendment (LOMA) to come in from FEMA and hope that they would determine that the property was not in the flood plain.
  • Delay closing, have the surveyor fill out the Letter of Map Amendment (LOMA), wait on FEMA (which takes time) and hope that they would determine the property was not in the flood plain.
  • Terminate the deal and begin the property search again.

Our buyer decided on option 2.  The surveyor filled out the LOMA and we began the long wait for FEMA to get back to us.  After a long wait, it was determined that the property was not in the flood plain, and now we have a very happy buyer.

Sellers really need to remember what the goal is – to sell the house.  Consider having a surveyor out to make sure the property is not in the flood plain.  If it is, then get that LOMA filled out and turned in right away.  The last thing you want is to almost be ready to close and then find out that you have a flood plain issue.

Our second most recent experience with this, the buyer went ahead and purchased flood insurance and hopefully they will be able to cancel the coverage when their LOMA comes in showing that the property is not in the flood plain.

If you want to read more information about FEMA and flood plains, the latest edition of the Texas Realtor Magazine has a great article about it.  June 2017_selected-pages  I will definitely start checking the Flood Insurance Rate Map (FIRM) on properties before listing them.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.249.2034 |

Sold in Plano

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“Debbie and Bruce are excellent realtors! Their customer service is over and beyond. From the time they placed our home up for sale until closing they were in constant contact with us and did everything they could to make the process easy and non-stressful. Bruce is very knowledgeable of the market and Debbie handles pictures and all the paperwork. They are a great team. We whole-heartedly recommend their services. You will not be disappointed. ” Liz and Duane F.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

Real estate is hopping

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Real estate is hopping and it doesn’t matter if you are looking to buy or sell in DFW or Cedar Creek Lake. Bruce and I can assist you. 

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.  Click here to learn more about Cedar Creek Lake.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

What’s happening in Real Estate in 2017

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What’s happening in real estate so far in 2017?  The Texas Association of REALTORS® released the Texas Quarterly Housing Report for the first quarter of 2017. Highlights include:

68,420 Texas homes were sold in Q1-2017, a 4.6% increase from 2016-Q1.

Median sales price for Texas homes was $213,325, a 9.4% increase from 2016-Q1.

Monthly housing inventory in Texas was 3.6 months in 2017-Q1 compared to 3.5 months in the same quarter last year.

Active listings rose 6 percent year-over-year to 98,399 listings in 2017-Q1.

Texas homes spent an average of 64 days on the market in 2017-Q1, unchanged from 2016-Q1.

“On the heels of a second consecutive record year for Texas home sales, the positive momentum experienced in the Texas housing market during the last quarter of 2016 has continued in 2017,” said Vicki Fullerton, chairman of the Texas Association of REALTORS®. “Annual gains in both sales and listing activity in the first quarter indicate that a strong summer selling season could be ahead.”

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.  Click here to learn more about Cedar Creek Lake.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

How to determine if an Item stays with the Home.

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Two sets of hands exchange a sold sign in front of a for sale yard sign

Buyers and Sellers do get confused about what stays with a home and what can go.  The Texas Association of Realtors had a good article about that and read below.

Courts consider three factors when determining whether an item of personal property has been so permanently attached as to constitute realty:

  1. Will the property be damaged by the removal of the item? If so, to what extent?
  2. Is the item customized for the property?
  3. Was the installation intended to be permanent or temporary?

Courts consider the answer to the third question—the party’s intention—the predominant deciding factor, while answers to the first two questions constitute evidence of that intention. However, testimony of an intent for the item to be temporary will not prevail if there is undisputed evidence to the contrary. [Logan vs. Mullis, 686 S.W.2d 605, 607 (Tex. 1985)]

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs – anywhere in the DFW metroplex or whether you want a lake home in East Texas. Click here to view our website. Click here to learn more about Cedar Creek Lake.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com 469.283.8656 |

Water My Yard

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Your clients could be saving money on landscape watering

A tool from the Texas A&M AgriLife Extension could save your clients money and help conserve resources by providing custom advice on how much water their yard needs.

Water My Yard takes into account local weather conditions and irrigation system details to calculate watering recommendations for a specific address. Automated updates from the tool can help homeowners avoid overwatering while keeping their landscape healthy and saving money. The water district as a whole can benefit, too, from the resources and energy saved if homeowners only water when necessary.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs – anywhere in the DFW metroplex or whether you want a lake home in East TexasLet the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs – anywhere in the DFW metroplex or whether you want a lake home in East Texas. Click here to view our website. Click here to learn more about Cedar Creek Lake.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com 469.283.8656 |

Exciting News for Cedar Creek Lake

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2016-lake-ourhouse-2969ebby_logo_vert_2

Check out our June Newsletter for EXCITING news about Ebby Halliday Realtors and Cedar Creek Lake.  Click here to view the newsletter.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.  Click here to learn more about Cedar Creek Lake.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

 

Flood Zones and Insurance

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Bruce and Debbie Schwanbeck

Ebby Halliday

Let’s talk about flood insurance and flood zones and how it can affect your home.   The question is not is a home in a flood zone, the question should be is the home in a flood zone that the lender would normally require to have flood insurance. This needs to be addressed when buying and selling a home and it is starting to become an issue.  You can contact your insurance company if you don’t know if your property is or is not in a flood zone.  Ask them for a flood determination.

If it is determined the home is in a flood zone required to have flood insurance the next steps would be to request a flood elevation certificate. This can normally be done along with the survey and there is a fee for it. Not all surveyors can perform this so I recommend verifying if this is an option before a survey is scheduled. Without the elevation certificate flood insurance quotes are usually very expensive. This is because flood insurance is now dependent on the levels of each individual property and no longer based solely on the zone itself. Therefore, getting a flood elevation certificate is very important.  Waiting from FEMA for a flood determine can take around 4-6 weeks. and there is no rushing the process.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

Seller’s Tips

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ebby_logo_vert_2The Ebby Halliday Companies offer the following tips to assist sellers in today’s unprecedented DFW and North Texas residential real estate market.

Seller’s Tips

Market to everyone near and far – You have the best chance of selling your home for the highest price by exposing it to the largest number of potential buyers. When you list your home with Ebby Halliday, it will enjoy worldwide exposure on ebby.com, the gold standard in residential real estate websites.

Respond and keep momentum – There is an old adage that time kills deals. A buyer’s interest is at a peak level at the time he or she submits an offer, so keep the momentum going, choose the best offer, and respond promptly in writing.

Don’t be greedy – If a buyer offers an acceptable price and terms, sign the offer and your Ebby Halliday Associate will schedule a closing appointment and expertly guide you through the home-inspection and closing process.

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |

6 Things You Should Never Say When You’re Selling Your Home | realtor.com®

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If you’re trying to sell your home, there are certain things you should never, ever say to buyers. Here are a few key phrases to avoid at all costs.

Source: 6 Things You Should Never Say When You’re Selling Your Home | realtor.com®

Let the Schwanbecks Exceed Your Expectations!

We would love an opportunity to assist you in your real estate needs  – anywhere in the DFW metroplex or whether you want a lake home in East Texas.  Click here to view our website.

| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com  469.283.8656 |