Ricky Bell-Realtor- Bell Real Estate Group

10/28/2022

The DFW real estate market is still strong!🔥

Nashville and D-FW rank as the No. 1 and No. 2 markets in the U.S. for real estate investment and development in a closely watched annual report.

07/24/2022

📣Attention homeowners! 🏡 If your home is located in an HOA, this news is for you! ⬇️

NEW TEXAS LAW FOR HOMEOWNERS AND HOA’S BEGINNING SEPTEMBER 1, 2022:

• Senate Bill 1588:

• Homeowners anywhere in Texas will be allowed to put up a perimeter fence around their property for added security (front, sides, and/or back of homeowner’s property). The law specifically states that homeowners associations (HOA’s) cannot restrict it (i.e: New fence/gate around homeowner’s front yard/driveway). Homeowners associations are allowed to enforce covenants which mandate the type of fence material that must be used. If required by the HOA, homeowners must obtain prior approval for the material of any new fence being built, but not the fence itself. Replacement of established fences (i.e: backyard fences) with existing material, do not need prior approval.

• Homeowners are allowed to install a perimeter fence around their pool, as well as security cameras and motion sensors on their property without prior approval. HOA’s are allowed to enforce covenants which prohibit homeowners from installing security measures outside of the homeowner’s property.

• HOA’s are prohibited from restricting homeowners who display religious items on their property. HOA’s may only enforce covenants which prohibit religious items that violate a law, contain graphic language, pose a threat to public health/safety, or are offensive to the public (other than its religious content).

• Resale certificate fees are now capped at $375 and updated resale certificate fees at $75. Deadline for HOA to deliver such certificate is now 5 days as opposed to 7. Homeowners are now permitted to seek a judgement against HOA for no more than $5,000 for failure to deliver certificate in a timely manner.

• If your HOA board makes a budget amendment, they must do it now at an open public meeting.

• Any HOA must obtain bids before awarding any contract more than $50,000.

• The bill prohibits a person from serving on an architectural review committee (“ACC”) if the person is: 1) a current board member; 2) a current board member’s spouse; or 3) a person residing in a current board member’s household.

• If you are late paying your HOA dues, your HOA can still report you to a credit reporting agency but they can’t charge you the fee to do that. You now have 45 days instead of 30 days to cure a delinquency. HOA must now send homeowner requisite enforcement action “209” notice prior to reporting to credit agency.

Bill has been passed and goes into effect on September 1, 2022.

06/13/2022

This is so true and accurately describes the current housing market, not mine but had to share!!

If the speed limit is 65 and you’re going 135 🏎, it’s insane. You see a cop 👮‍♂️ ahead and immediately take your foot off the gas, passing the cop at 97.

Lights come on 🚨, and you pull over.

Cop asks if you know why you got pulled over and you decide to be honest 😇.

“Officer, I apologize, I was going extremely fast 💨 . I was the only car on the road, this is a limited edition sports car, and I just kept going faster and faster. There was nothing to keep me from going fast. I saw you, well ahead, and I attempted to slow down, safely. I wasn’t out of control, I knew what I was doing, and feel your leniency would be fair.”

The cop thinks about your story, and appreciates your honesty. He goes to his patrol car 🚔, runs your plates and your license, and comes back with a citation.

“I appreciate your honesty. You do have a great car. You did have no one else on the road, and you clearly know how to drive. Im going to write you up for going 97 in a 65. You may not have been going 135 when I saw you, but 97 is still extreme speeding ⚠️.”

People, This is the housing market 🏡 in 2022. You were the only home on the market for a while so you were able to do things that are not normal. The market may have slowed a bit, but it’s still hot 🔥 . Is it white hot (135 mph)? No. But is it still very hot (97 in a 65 zone)? Yes. There is more traffic on the road (inventory / interest rates / etc), but the market is still moving like crazy.

Don’t let the negative news fool you. Don’t let big % numbers 📉 sound scary. We look at the real numbers, constantly. People will tell you that inventory levels are up 30% since the beginning of the year. This is true. We are sitting with 1.3 months of inventory instead of 1 month. Is this a 30% increase? Yes! Is it still remarkably low? YES!

Sales volume is currently flat to slightly lower. Prices have been rising. Will this stay the same forever? No. We may go from White Hot (135) to Very Hot (97) to just Hot (85), but it’s still fast and still strong. Are you going to make 20+% on a purchase this year and every year? No. But that should NEVER be your plan. Real Estate is not for day trading. Never was supposed to be. Real Estate is a great investment that is a good Inflation hedge and performs well, even during Recession.

Focus on YOU, not the news 🗞 . What are your needs? What are your goals? If you’re adding to your portfolio by buying or by selling a property to buy another (or multiple), remember that in 20 years, all your decisions will look like gold 🏆!

06/03/2022

Interesting article about the DFW area and housing.

Dallas lost 14,777 people between 2020 and 2021, according to a new U.S. Census report, while Fort Worth gained almost 13,000. Housing may be part of what's driving that shift.

04/08/2022

For those of you wanting to “wait out” this current market, go ahead and sit tight you’re going to be waiting a while. Very good read.

The hot housing market has some buyers hoping it’s a bubble waiting to burst. Experts say this market is unlike the housing bubble 15 years ago, and it might not be wise to hope for the market to crash.

02/24/2022

🔔 Our latest project is officially sold! New record sales price for the neighborhood! REMEMBER…BUY OR SELL, RELY ON BELL! 🔔

02/14/2022

🔥We are under contract with multiple offers in only 2 days for our most recent project! This market is on fire!!🔥

For sale This 1782 square foot single family home has 3 bedrooms and 2.0 bathrooms. It is located at 701 Eudaly Dr Colleyville, Texas.

02/02/2022

🔥STAY TUNED FOR SOME INCREDIBLE TARRANT COUNTY PROPERTIES! 🔥

09/08/2021

💥Hold on to your hats folks. DFW real estate could appreciate another 21% next year!💥

Despite some indicators that the Dallas-Fort Worth housing market may be cooling, a new report projects that home prices will increase an eyebrow-raising 21.1% over the next year.