July 2021 Stats Blog Header

July 2021 DFW Area Real Estate Stats

July 2021 North Texas real estate stats are out and we’ve got the numbers! Our stats infographics include a year over year comparison and area highlights for single family homes and condos broken down by MLS area. We encourage you to share these infographics and video with your sphere.

New listings are staying on par with where they were in July 2020, in Collin, Dallas, and Denton counties, down just slightly. However, in Rockwall and Tarrant listings are up an average of about 10%. The average sales prices across all five counties have risen to an average of about 20% above last years’ listing prices. The numbers don’t lie, the summertime market in North Texas is still hot!

For more stats information, pdfs and graphics of our stats including detailed information by MLS area and condo stats, visit the Resources section on our website at https://rttprod.wpengine.com/residential-resources/

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

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The Real Deal: A Class Series for New Real Estate Agents is Back!

We are so excited to be bringing back our series for new real estate agents called The Real Deal! You are not going to want to miss this information-packed series. The Real Deal new agent class series is a special group of classes specifically designed for agents who have been licensed less than one year, who are just starting out and building their businesses from the ground up. We will dive into five of the most important areas that new agents need to know about to help you establish your business and be a better REALTOR® to your clients.

Register now at republictitle.com/residential-education

This five part class series includes:

Mastering The Deal With Your MLS Subscription – In this class you will learn MLS basics including understanding the dashboard, the vital tools available to grow your business and tips to better help your clients.
Date & Time: Tuesday, August 17th @ 10:00 am on ZOOM
Instructor: Annette Carvalho-Jordan, VP/Technology Trainer for Republic Title

Making The Deal With Lenders – Dive in to the basics of lending such as pre-qualifications, loan estimates, the mortgage process and the Closing Disclosure (CD).
Date & Time: Tuesday, August 24th @ 10:00 am on ZOOM
Instructor: Shaun Neidigh, VP/Business Development at Republic Title

Writing The Deal – Contracts – We’ll cover the Contracts and Addenda you’ll need to submit each time you write an offer along with an overview of the digital tools you’ll need to write and send them.
Date & Time: Tuesday, August 31st @ 10:00 am on ZOOM
Instructors: Scott Rooker, VP/Residential Counsel for Republic Title

Winning More & More Deals – This class will cover lead generation, winning listing appointments, prospect and client follow-up and more.
Date & Time: Tuesday, September 7th @ 10:00 am on ZOOM
Instructor: Shaun Neidigh, VP/Business Development at Republic Title

Closing The Deal, The Title Process – The big day is here! In this class you will learn about the entire title process including title insurance, the title commitment and what to expect at closing.
Date & Time: Tuesday, September 14th @ 10:00 am on ZOOM
Instructor: Janet Allen, Sr. VP/Business Development at Republic Title

Register now at republictitle.com/residential-education

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June 2021 DFW Area Real Estate Stats

June 2021 North Texas real estate stats are out and we’ve got the numbers! Our stats infographics include a year over year comparison and area highlights for single family homes and condos broken down by MLS area. We encourage you to share these infographics and video with your sphere.

New listings are almost exactly where they were in June 2020 and down an average of just 3% in all five counties. Interestingly, the number of sales are up in only Collin and Dallas counties and down an average of 8% in Denton, Rockwall and Tarrant counties. The average sales price has risen to an average of over 25% across all counties. As it’s been all summer long, it is a great time to be a seller in the North Texas real estate market, so now is the time to list if you’ve been on the fence.

For more stats information, pdfs and graphics of our stats including detailed information by MLS area and condo stats, visit the Resources section on our website at https://rttprod.wpengine.com/residential-resources/

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

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eVaults and eNotes

What does a vault have to do with an eClosing? Plenty. As eClosings become more common, fundamental elements of the mortgage process will change. For example, instead of a paper promissory note, you may have an eNote and eVault. The note is one of the key lender documents within a loan package that borrowers sign at closing. It’s the borrower’s written promise to repay the loan within the specified term. The note is also very important to investors who buy and sell them on the secondary market. The note plays an important part in a mortgage backed security. Think of an eNote as the electronic version of a paper note. The eNote gets electronically signed instead of wet signed at closing. You must be able to identify the original version of the eNote. Think of the electronic version as a PDF. There could be infinite versions of it floating around. How do investors know the version they are buying is the original?  To solve this, the mortgage industry got smart and did two things:

  1. They created the MERS eRegistry, the legal system of record for identifying the controller and location of the authoritative copy of the eNote.
  2. Created standards for how to store eNotes in something called an eVault.

eVaults are technology platforms that are built to support the handling, status, and storage of eNotes. They always have integrations to the MERS eRegistry and often have integrations to other eVaults and trading partners. The MERS eRegistry is the librarian of the eNote world. It tracks who controls each eNote and in which eVault it is stored. When a lender creates an eNote, they register it with the MERS eRegistry  which notifies the librarian of the controller and location of the eNote. If you are exposed to an eNote, now you know what a vault has to do with it.

For more information on eClosings, visit www.republictitle.com/evolve

Click here to go to our YouTube page to see more of our helpful videos. 

eVaults and eNotes

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Backup Offers

If you’re a buyer or a Realtor in this housing market, you surely understand the struggles of “winning” the bidding war that many homes for sale are garnering. But, don’t lose hope if you or your buyer doesn’t get the house on the first offer, there’s always the chance for the first offer to fall through and that’s where the backup offer comes in!

Janet Allen and Scott Rooker discuss some of the benefits for both Buyers and Sellers with submitting a backup offer, some common questions surrounding backup offers and even if you can submit a backup offer to a backup offer! Take a listen to their discussion on the topic and visit our YouTube page for even more helpful real estate videos. Click here for this and other videos.

Here’s a link to the Addendum mentioned in the video: https://www.trec.texas.gov/sites/defa…

For more information or to get in contact with your Business Development Representative at Republic Title visit: https://rttprod.wpengine.com/residen

Fair Housing Awareness

Fair Housing Awareness in a Strong Sellers Market

Next up is the third and final video in our series on navigating a strong seller’s market where we discuss those buyer “love letters” that sometimes accompany contracts in a multiple offer situation.
 
Key takeaways:
– They can bring legal trouble to the seller
– Selling agents should let buying agents know that they will not accept them
– There are similar implications that sellers need to be aware of in regards to home surveillance systems in the home that are recording during showings
 
For the first and second videos in this series and other informative real estate and title videos, visit our YouTube page at youtube.com/republictitle
 
For more information or to get in contact with your Business Development Representative at Republic Title visit: https://rttprod.wpengine.com/residen​​… To download our top resources to boost your business visit: https://rttprod.wpengine.com/residen​​… SUBSCRIBE to the Republic Title YouTube channel: https://www.youtube.com/c/republictit​​
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May 2021 DFW Area Real Estate Stats

May 2021 North Texas real estate stats are out and we’ve got the numbers! Our stats infographics include a year over year comparison and area highlights for single family homes and condos broken down by MLS area. We encourage you to share these infographics and video with your sphere.

It’s not only HOT outside, the market is still red hot across all five counties!  New listings were down an average of 15% compared to May of 2020 In Dallas, Tarrant and Rockwall counties, with Collin County enjoying a slightly less comparison of almost 6%. Interestingly, the number of sales are up in every county, along with the averages sales prices rising over 20% in all counties.  It is still a great time to be in the game here in North Texas!  Please reach out to us at Republic Title for helpful resources or visit www.republictitle.com  or download our app!

To see past month’s reports, please visit our resources section here.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

Navigating Multiple Offers

Navigating Multiple Offers in a Strong Sellers Market

Next up in our video series on navigating a strong seller’s market, we discuss multiple offers. Whether you’re a buyer’s agent trying to write the strongest possible offer for your clients, or you’re the listing agent with an email box full of offers, there are important things you both need to consider outside of just the sales price.
 
Key takeaways: – Seller’s agents: Use the Invitation for a new Offer form to get your clients their “ideal” offer. – Buyer’s agents: Set reasonable time expectations of the process before you write an offer that will not be able to meet an improbable timeline.
 
For the first video in this series and other informative real estate and title videos, visit our YouTube page at youtube.com/republictitle
 
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What You Need to Know About PIDS

In real estate, the acronym PID stands for a Public Improvement District. Properties can come together to petition a city to create a PID, a Public Improvement District. When a PID is created, a city can provide additional services to the district including police services, street cleaning, and promotion. The city can charge an assessment on the property owners of that district to help pay for those additional services.

Listen in as Blake Bennett with Texas A&M Agrilife Extension Service explains what a PID is, what a PID does, and how it benefits you as a homeowner.