real estate – John Angell – Paragon Realtors

Vague Specifics: October 2024

Everyone I know has hit the, “I’m done with the election” phase. I’m glad I spend most of my time on The YouTubes because it’s rare to catch an advertisement, but on the rare instances I torture myself watching network television political smear ads are 90% of the commercials. I guess it appeals to our lizard brains; all of the ads are negative because they’re effective. Apparently we’re easier to persuade with negativity than optimism, which says something about human nature.

Despite a rise in inventory, rates, and days on market, sales prices have held exactly where they were last year. We’re hopefully exiting what an economist I follow calls The Great Stay, where people are staying put in their existing living situations be it home or apartment living. Let that idea serve as a segue for a theory I’ve been pondering pertaining to to first-time homebuyers and their reluctance to enter the market. It’s true prices have risen 40% and interest rates have doubled, but consider my theory: Soft Tyranny of High Expectations.

When I was in my mid 20s (The Allies had just defeated the Nazis) everyone in my age group lived in The Village, an enormous series of cheap, modest-amenity apartments. They were affordable, no frills, not a granite countertop in sight. We lived in them because we were up-and-coming (ie dead broke). Eventually, we exited single life and wanted privacy, more space and backyards. We bought “grandma homes” in Lake Highlands. They were all we could afford, but our expectations were low modest. Eventually we updated them, added on, etc, and now Lake Highlands is an upper-middle class neighborhood with most homes selling for north of $500,000. Juxtapose that to millenials and zoomers, many of whom have stayed in apartments long after we did. They enjoy luxury apartments with their infinity pools, concierges, workout facilities and 5-star views. They see entry-level homes and are disgusted because they’re coming from swanky apartments, and would rather burn money every month than deal with the maintenance and required sweat equity of a starter home. They are slowly entering the housing market, but it’s going to take lower interest rates to get them in due to the monthly payment.

That was a long paragraph. Sorry.

Planning Your First Ski Trip

They say it’s never too late to try new things. While I mostly agree with that, the older you get the more difficult it is to pick up new things involving athleticism. I always envied my friends who skied from the time they were kids, my first time I was 15 and I’ve gone maybe 12 times over my life. Here are a few things I’ve learned along the way:

1) Choosing Friends – Find people you’ll enjoy spending time with from 4pm until bedtime. You don’t have to all be of same interest or skill level because people tend to break up during day based on skill and intensity.

2) Research Destinations – There are great ranges all over the world for all skill levels. Research the mountains, their ratios of beginner (green), intermediate (blue) and expert (black) slopes, and cross reference that with the farmer’s almanac so you’ll know when to expect good snow.

3) Find Lodging – Whether you prefer a resort or a VRBO, there are tons of great options. Kacie always looks for professionally taken photos and comfortable looking beds. Prices vary wildly, if you want the 5-star “ski in, ski out” treatment it will cost you, but it’s an awesome experience.

4) Reserve Equipment – Two words: Ski Butlers. They will drive to your lodging with multiple boot and ski/board options. They charge a little more but their service is top notch and they’ll trade out gear if necessary.

5) SCHEDULE LESSONS – I cannot stress this enough. Do not let pride get in the way (like I’ve done after every stupid decision of my life) and don’t count on an experienced friend to give you a few pointers. A terrible experience on your first day may end you skiing ambitions before they begin.

Bonus: To Ski or To Snowboard? – This is a tough one. I took to boarding way more easily than skiing, but plenty of people will say the opposite. I’d suggest skiing, it’s easier to deal with the first 2 days. If you can’t figure it out, switch to boarding. It worked for me.

Vague Specifics – September 2024

I may be the only Realtor in America not super-excited by the fed rate cut, mainly because we’ve known for almost the entire year this was a foregone, political conclusion. It doesn’t matter if the red or blue M&M is in the White House, the Federal Reserve was going to cut rates regardless of whether or not inflation, which is still 50% higher than optimal, was under control. They’re focusing more on jobs, and lower interest rates mean more of them, but tell that to people barely able to afford groceries.

If there’s some positive news to stem from the market slowing down, it’s home affordability. A home affordability rating of 100 means the median income buyer in a market can afford the median-priced home. In January 2013 the rating was 200, it steadily dipped over the next 5 years until it reached 120 in mid 2018. It the slowly trended upward until it high around 156 in January 2021 and then it collapsed all the way to 80 in October 2023. It’s since then hovered somewhat but has taken a slight turn upwards to 90 in August 2024. It’s not ideal, but as close to 100 as we can be is welcome.

Expect the next couple of months to be relatively quiet in the real estate market. Interest rates are just below 6%, don’t expect them to drop all that much before the next rate drop as the current rate was based on anticipation of this cut. Inventory is up but median days on market is still pretty low, couple that with rates and you have the most buyer-friendly market in the last 5 years. This may carry into next year, from what I’m hearing it’s going to be a somewhat sideways market but I haven’t done a lot of research.

I want to thank everyone for their well-wishes and prayers. Kacie’s surgery last month was successful and she’s doing well. She has a few procedures in the future, but we’ll handle them in-stride. I appreciate all of you more than I can articulate.

Architectural Corner: Carriage House

Also called a coach house, the term describes a house that served as an 19th century garage, sheltering horse-drawn carriages, tack & other equipment. They were typically two stories with quarters on the second floor.

Small, utilitarian and typically only large enough for one carriage, they were nonetheless part of larger,Coachmen or caretakers typically occupied the second floor quarters.

While the need of horse carriages has oddly dwindled since Henry Ford, many of these homes have been converted into either residences, restaurants, garages or workshops. Quite a few still exist in Manhattan and outside of North America’s older large cities.

Getting Your Yard Ready for Fall

This may be jumping the gun a little, but it usually takes me a month or so to I know, I’m obsessed with lawn care. Please bear with me.

Before 2021, I always believed here in Texas we didn’t have to worry quite so much about preparing our lawns for winter. Now I realize we need to fortify them as much almost as much as the northern states, because we’re just one massive freeze away from years of progress being destroyed.

1) Continue Usual Maintenance – Don’t stop mowing and weeding, and keep raking leaves up through the fall. It will allow the waning sunlight to reach the grass, and there will be less leaf to turn brown during the winter. And for God’s sake, don’t stop watering, even in the winter.

2) Ready the Pre-Emergent Herbicide – The early fall (now) is the perfect time to apply an herbicide to stop the spread of weeds and dandelions. Recent EPA regulations have outlawed weed killers that kill man stubborn weeds in North Texas (don’t get me started on why…). A preemergent herbicide will sterilize the weeds so they won’t grow back in the spring… provided we have a nice, cold winter.

3) Additional Fertilizing – When mid-late October approaches, it’ll be a good time to apply additional high-nitrogen lawn fertilizer to your lawn. It’s about to experience what could be an extended period of dormancy, but you need to make sure the roots are strong and run deep. I use Scott’s Bonus-S at the advice of my local Home Depot guru, but I can’t say that’s the best.

4) Know What’s Best for Your Lawn – Without going into details, there are pre-emergents and fertilizers that work great for bermuda grass, but kill St. Augustine on contact, and conversely. Also be mindful of the forecast. Some treatments do not work properly above certain temperatures, and if there is a heavy rain in the forecast it’s pointless to sprinkle anything on your lawn.

DFW MLS Statistics – July 2024

Architectural Corner: Modernist

Also called modern architecture, modernism is a style that came to prominence in between WWII & the 1980’s, between the Art Deco and Postmodern movements, although it can be traced as early as the 1890s. Based on innovative technologies such as glass, reinforced concrete and steel, it embodies function, minimalism, and a rejection of the ornate. (Given all the glass it could embody exhibitionism, but I digress…)

There are many subdivisions of modernism, such as Bauhaus, Expressionism & Mid-century Modern.

I want to hate modernism. It’s cold, soulless, reminding me of Cameron’s house from Ferris Bueller’s Day Off, but they’re just so cool.

Preparing For Fall Weather

We all have our plans of home improvement and maintenance tasks to do once the weather cools. If you’re not already buried in honey-do’s, here are some ideas.

Plan – We only get a few months in Texas between unlivable heat and unbearable cold. Make sure to prioritize your tasks.

Apply Pre-Emergent to Your Lawn – Of course I start with the lawn. You want to apply a root-inhibiting pre-emergent around the time your soil reaches 70 degrees. I’m not suggesting you put a thermometer in the dirt… but it would work.

Clean Your Chimney – Nothing is more fun than lighting a roaring fire and your house ends up burning down. Guidelines state that wood-burning fireplaces should be cleaned every year, but I suspect that guideline comes from the International Brotherhood of Chimney Sweepers and all their lobbying dollars.

Service Your Heater – Nothing is more fun than starting your heater on the first chilly day of the fall and you dying from natural gas suffocation. Make sure your gas heater is in shape for that 24-hour period when the high is 82 and the low is 11.

Check Sprinkler System – In August, there isn’t enough water to keep our lawns alive. When We hit October, make sure you adjust your watering schedule to save money.

Clean Your Gutters – From now until December your gutters need to be monitored. If you have long gutters and lots of trees you may want to have them cleaned out twice a month.

Take Inventory of Holiday Decorations – It’s right around the corner, and it’s best to test and replace them now.

Architectural Corner: Saltbox

Originating in Colonial New England during the 17th & 18th centuries , Saltbox homes were named after (surprise!) salt storage boxes from the era.

Typical of houses of that period, they were wood framed, using post-and-beam construction – cleverly joining timber pieces with joints, pegs and interlocked beams rather than nails, which were a rarity in Colonial America.

What separated Saltbox homes from other colonial homes were the so-called catslide rooflines, the result of adding sheds to the back of the house to increase square space and functionality, resulting in the front of the house being two stories and the back being one. It was a clever, economical way to add space.

Your HVAC: A Brief Tutorial

Most of us don’t think about our HVAC (Heater, ventillation & air conditioner) until there’s a problem with it, even fewer of us know it’s components. I’m limited by space here, my goal is to give you a 101-level understanding so you can keep up with I won’t go over the 1) thermostat or 5) vents.

Furnace – The core of the heating system. Fueled by gas or electric coils, your furnace keeps you warm during the 3 weeks of winter through which we suffer.

Evaporator Coil – A heat exchange device that absorbs the heat from the air in your house. It uses tubes/channels where refrigerant is circulated, fins that increase the heat transfer area, a source of heat such as a natural gas or a heating filament directed over the tubes and a distillation of vapor into an outlet pipe.

Condenser – It’s the thing outside that either releases or collects heat depending on if the system is on cold or hot. I contains the condenser coil (made of copper or aluminum), a compressor, fan that facilitates heat transfer, and controls.

Refrigerant Lines – The insulated lines that go between the condenser and evaporator coils.