Showing posts from April, 2015

Luxury Home Sales in Denton County, TX

Taking a Look at Luxury Home Sales in Denton County, TX 

It's been a very busy Spring for North Texas markets and we decided to take a look at the upper end of the market at homes that sold for $1 million or more in Denton County.  

To really understand markets it is good to not just look at recent sale data but to look at the history of sales to get a good understanding of the "big picture".  A 10 year history of sales of homes that sold for $1 Million or more shows last year was the highest number of sales at 65 and second highest number was 2013 at 61 sales.  The lowest number of sales occurred in 2009 at 27 sales.  The number of sales from 2009 to 2014 increased  140%.   The number of sales in 2015 is currently at 11.  The largest year to year increase occurred from 2012 to 2103 at 38.6 %  It is also interesting that 2010 and 2011 had the exact number of sales at 37. 

It is also of note to see how these sale are financed.  The majority of the purchases were financed …

How do Appraisers Measure a Home?

How do you know the size of your home?  The tax records have a measurement, sometimes an MLS listing has a measurement and then an appraiser measures your home and there is a different measurement!  How can this be?   We will try to explain how an appraiser measures your home and why there are sometimes discrepancies in the measurements.

Appraiser Measurements:  Appraisers will measure the exterior of your home first. Many appraisers use either a tape measure or a laser measure.  We actually use both as the laser measure works well when the exterior a home has large brush that makes it difficult to  use.

It is of note that garages and basements will not be counted as part of the living area calculation although appraiser will measure them.

Per Fannie Mae Guidelines: When calculating gross living area
The appraiser should use the exterior building dimensions per floor to calculate the above-grade gross living area of a property. For units in condo or co-op projects, the appraiser shou…