Showing posts from 2015

It's the Most Wonderful Time of the Year

This time of year is special.  Yes, there is commercialism but it is also a time full of good will.  Even though you see the craziness of Black Friday shoppers, you will also see those giving of their time by serving at soup kitchens, homeless shelters, giving to food banks, giving gifts to children and those in nursing homes.   I love this time of year when I can see good, kindness and peace in our world.  There just seems to be a little extra good will in the air. It is also a good time for reflection and review.  Here is a look at our year in review.

It has been an eventful year for Appraisers  and those in Real Estate and Mortgage Lending.  Here are a few things that we have experienced in 2015:
Collateral Underwriter: We began the year with the January Implementation of Collateral Underwriter.  Appraisers went through an adjustment on all appraisals performed that are for mortgage lending geared toward Fannie Mae.  Fannie Mae uses appraisal data and compares the data to other appra…

Taking a Look at New Construction

New construction has been in the news and is a big part of the housing recovery.   In North Texas, we are seeing growth and a revival of new construction.   Overall, Texas has been showing steady increases as many companies are relocating to Texas bringing jobs and driving demand for housing.

Appraising New Construction

Have you ever wondered how appraisers can perform an appraisal on new construction?  Appraisers can appraiser homes that are not yet built.  This is done by using what is called a "Hypothetical Condition" in appraising.   A hypothetical condition is defined as - that which is contrary to what exists but is supposed for the purpose of analysis- per The Dictionary of Real Estate Appraisal.   When we appraise new construction, we are appraising a property that is not yet in existence.  We are provided the builders plans and specifications which we use to identify what the property will be once constructed.  We will then find similar sales of properties to determi…

Happy Thanksgiving!

We wish you a Blessed Thanksgiving!

DW Slater Company
We are thankful this year for the connections we have made with you! Thank you for subscribing to our newsletter or our blog and for your input as we began our blog and newsletter a little over a year ago.  We wish you all a special time with your family and friends this Thanksgiving!

This  Blog Post is from last year but it still rings true today!   Enjoy!  Five Thankful Thoughts at Thanksgiving 

Guest Blog - 5 Things that May Lower Your Home Value

I was honored to write a guest blog post for  I was asked to write about surprising things that lowered home values and immediately what came to mind were examples of over-improvements homeowners had made that didn't add the value they had expected.  The key is knowing your market and not expecting the cost of a home improvement to be equal to the value added to your home.  My guest post consisted of five things that may not add value or even lower the value of your home. 
The five different examples I gave were:

1. Swimming Pools
2. Additional Square Footage
3. Garage Conversion
4. Themed Rooms
5. Extensive Landscaping

To read how these improvements might not add value or even lower the value of your home please read my guest post at:  5 Surprising Things that May Lower Your Home Value  The takeaway is don't expect the cost of your home improvement to be equal dollar for dollar.  Know your market or consult a real estate professional to know if the home improv…

What I've Learned in One Year of Blogging

It's hard to believe that I started this blog for our appraisal company one year ago. It really all started when I came across a guy named Phil Crawford and his weekly podcast for appraisers, Voice of Appraisal.  Phil does a great job of informing appraisers of relevant news and information for appraisers. His podcast comes out once a week and if you are an appraiser or interested in appraising I highly recommend you give him a listen.  It is informative and entertaining.   On Phil's show he spoke of how important it is for appraisers to have a blog and be our local market experts.  His list of Appraiser Power Bloggers do just that.  His show inspired me to start a blog for our appraisal business.  There is really a lot of misinformation and misunderstanding about appraising, appraisers and the appraisal process.  It is my desire to help others, whether it is borrowers, sellers, realtors, or mortgage brokers, to understand what we do and why we do it. My first blog was attach…

Grayson County Market Analysis

Grayson County is located north of the Dallas/Fort Worth Metroplex. It has a population of 123,543 per US Census data.   The area has experienced a 2.2% population growth since 2010.   It has a land area of 932.8 square miles.   The county seat of Grayson County, is Sherman, TX.  Sherman is located next to the city of Denison and the area is often referred to as the Sherman-Denison market area.  Grayson County sits north of  Collin County which is a rapidly growing northern suburb of the North Dallas.  Grayson county is more rural and less dense.  The market is more varied and fluctuating due to the limited number of sales and lower turnover rates.  

The chart below takes a look at the Median Sale Price of all sales within Grayson County for the past five years.  As you can see the median sale price varies widely each month, however for 2015 the Median Sale Price has risen and is at a steady climb.  

This is a different look at the median sale price in Grayson County for each year. as …

Do You Know the Qualifications of an Appraiser? Have Confidence in the Professional, The Appraiser

If you are like me you want to know the qualifications of the person that is about to provide a service for you whether it is your electrician, doctor, dentist, etc.  It is my intent to provide you with some information in regards to the qualifications of a real estate appraiser.  It seems that  some might not be aware all of the training and education that goes into becoming a Real Estate Appraiser. In light of a recent article from a real estate agent discussing value in Huffington Post, there is an inference that the appraiser is not a real estate professional and the author even states"Don't call an appraiser, as their approach to market value is different than that of a real estate professional".   Maybe this is a misstatement but please know that this is most certainly not true. The real estate appraising profession has changed throughout the years and the requirements to become an appraiser have become more rigorous and extensive.  You can have confidence that the…

Thank You Ebby Halliday

I am not a realtor.  I have never met Ebby Halliday but if you live in the Dallas area, you know of Ebby Halliday and her impact on the Real Estate industry and North Texas.  She truly is an icon. Although, I never personally had the privilege of meeting  her, I have friends who are realtors that have met Ebby Halliday.  My husband met her as a valet parking attendant while he was in college 30 yrs ago and all say that she treated everyone well and she had a spark in her eye and she was inspiring.   I am inspired.

This past week when we learned of her passing at the age of 104, we were all saddened.  Her name was the top trending topic on my Twitter and everyone shared their love and kind thoughts of Ebby. She is known as the Dutchess of Dallas or the Queen of Real Estate. As I have read many of the articles about Ebby Halliday, I was inspired.  Here some of the reasons that I say "Thank You" to Ebby Halliday:

Thank you for being an inspiration to women in business.      Ebby …

How to Avoid Over Budgeting in the Custom Home Process

At the DW Slater Company, we perform appraisals for various types of real estate including both residential and commercial properties. One of the types of appraisals we perform are for loans for new construction of custom built homes. This guest post is written by Kyle Foley of Foley Homes and provides great information if you are thinking about building a custom home. In our over 39 years as custom home design-builders, we’ve seen it happen more often than we like, and more frequently than it needs to. The somber truth is that over 50% of custom builds never get off the ground, including those where the client has already purchased their lot, and may even had plans drawn. The number one reason for this vision deferred is that so many people do not, before anything else, prepare a realistic, comprehensive budget. New home construction is never a smooth-sailing venture in the best of circumstances. Along the way you encounter bumps and surprises in the form of changes and unexpect…

How School Districts Impact Real Estate Values

It is "Back to School" time and if your newsfeed has been like ours it has been full of  cute "Back to School" pictures.  In light of school starting back, I thought it would be a good time to take a look at how school districts impact housing values in real estate.

"Location, Location, Location"- it is what you always hear in real estate.  This is because real estate is fixed and immovable.  The school district in which your property is located has an impact on its value. Ask any real estate agent and they will tell you how important the school district is when they are selling or looking for properties for buyers. One of the first questions asked will be about the school district in which the property located.

To illustrate the impact of school districts on real estate values, we took a look at the unique development of Providence Village in Denton County in two separate school districts.  Providence Village began as a Master Planned Development that de…

Argyle Market Analysis

We have analyzed the market for properties located in Argyle,TX.  We looked at four different areas in each market:  Median Sale Price, Number of Sales, Number of Foreclosures, and Months of Inventory.  

The city of Argyle is a small community located approximately 30 miles northeast of Fort Worth and 40 miles northwest of Dallas.  The town of Argyle is centrally located in Denton County and is just 7 miles south of Denton, the county seat of Denton.  The area has rich sandy soil which is desirable for horse ranches.  The city has a population of 3,561 per 2013 Censusdata which is an increase from this sign. 

The median sale price of sales within Argyle has shown steady increases since 2009.   The median sale price peaked in 2007 at $349,000 and in 2014 the median sale price was back at the same level and has increased so far in 2015.