If you have a question about anything real estate related, have something to contribute, or just need some information... let me know. I'll do my best to get right back to you. If the answer/information is not private, I'll post it here on my blog for all to read and comment on. Chances are, others have similar questions and will appreciate your inquiry or information.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

An update to my earlier post here:
http://www.realtown.com/ryancave/blog/developments/bennigansclosing/

Many have asked me what they can do with their gift cards to Bennigan's and/or Steak & Ale. My suggestions: Use as a shoe horn, hole punch and make into a necklace charm, frame as a memento to corporate mismanagement, etc. Ok, so this may not be the answer you were looking for. Unfortunately, best I can tell, if you have a Gift Card for Bennigan's or Steak & Ale, they are probably worthless. Technically, I've heard that you are a creditor and could file a claim against their bankruptcy (I heard you could file a claim at www.uscourts.gov. That you could download the bankruptcy form and submit form B-10). However, you'd have to get in like with their other creditors and chances of you ever actually getting anything are slim to none (and the trouble probably isn't worth what you might recoup). This is further evidence why (in my opinion) gift cards are simply not good gifts... Even if the recipient LOVES the store/issuer, they may not get to use it. If a store files bankruptcy/closes, they're probably out of luck. Though this is rare, especially with "major" companies like the one that owns Bennigan's and Steak & Ale, this shows you that it can happen to any major corporation.

While we're on the topic, you might also want to be careful of "expiring" or "diminishing" gift cards. Many places issue gift cards that "expire" after a certain length of time (often after one year) or diminish in value as "maintenance fees" are changed every few months. I think this is horrible since the store already collected the cash (from when the card was purchased) and the company is collecting interest on the money until you use the card. A perfect example: a friend gave me a gift card to Harley Davidson in Allen Texas a few years ago (I think it was $50). I used part of it almost immediately (around $25), but when I returned the next time I wanted to use the balance, I was told that it had "expired" and wasn't worth anything. So, basically, they kept around $25 and never had to make good on it. I felt like they "stole" from me (or from my friend who had paid for and given me the card). But there it was in fine print on the back of the card... it expired one year from issue. This is why I don't give gift cards from Harley Davidson (or any other merchant that has gift cards that "expire" ). If you don't know what to buy me (my birthday was just this past week), just give me the universal gift card that never expires... cash.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

This one is fresh out of the rumor mill... However, I have a semi-confirmed report that Sotherby Homes has gone out of business. I had heard that they were in trouble, but now it looks like another BIG builder has gone under. At the time of this posting, their website (http://www.sotherby.com/) was down (citing "technical difficulties")... but according to one source, they are not declaring bankruptcy and are trying to find ways to finish all homes currently under construction. If you have a contract with Sotherby Homes, my advice is DO NOT PANIC, but rather contact your Real Estate Agent and/or Sotherby Sales Agent to get a status on your home. According to one source they will be closing their doors on Monday, but this may just be for any/all new business as, again, another source told me that they were not declaring bankruptcy at this time and were trying to finish homes in progress (it's a long story, but either through Shaddock Homes, Shaddock Financial and/or the banks that have already loaned on the homes in progress).  At this time that is all the information that I have and will pass on any additional information as I receive it. If you have more info. please feel free to post a comment below.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

The only thing the "Experts" can all agree on, when it comes to housing prices (and interest rates), is that NOBODY can predict the immediate future but they will eventually go up. You see, nobody really knows how low interest rates or prices will go, or when they will start upwards again. All that is known for sure is that Interest rates are at their lowest point in several decades (with little room to fall much further)... and housing prices, at least in Texas, weren't ever skyrocketing (they're some of the most affordable in the nation) and our local economy is still strong, so our prices have been mostly flat and there is no reason to expect them to tumble. So, the important question is, what are you waiting for? Prices and interest rates are very low (and you're supposed to "Buy Low" so that one day you can "Sell High", right?). The biggest mistake most people make in situations like this (whether the housing market or the stock market) is waiting for the "bottom" before they buy. Unfortunately, the only time the bottom can be clearly identified is after things have started upwards again (i.e. interest rates, housing prices, the stock market). At that point, much of the savings have been missed... this is when people mistakenly "Buy High". Keep these 30-year (fixed) Principal and Interest (P&I)* mortgage payments in mind each time you catch yourself thinking that you might should wait to see if we've "hit bottom" for prices and/or interest rates:

• You buy a $200,000 home at 5.5% and your monthly P&I payment is just $1,135.58
• If prices remain stable, but interest rates rise just 1%, that same $200,000 home (at 6.5%) is $1,264.14 (the same home costs you $128.56 more per month).
• If prices take a BIG tumble (for Texas) and fall 5%, but interest rates remain stable, the house is $190,000, which, at 5.5% is $1,078.80 (the $10,000 savings only saves you $56.78 per month).
• Worst case, you wait 'till you're 100% sure that interest rates and prices had hit bottom before you buy (remember, the world only knows they had bottomed out because they're going up again) and so you jump on the home for $210,000 at 6.5% and your monthly P&I payment is $1,327.34. The same home costs you almost $200 more per month!

So, the moral of the story is: Housing is on sale right now! Both pricing and mortgage interest rates are LOW and are expected to increase again (and remember, it's "Buy Low, Sell High"). Could this sale get slightly better? Perhaps... but experts agree that the sale will certainly come to an end, so don't wait until it's all over to go shopping or you'll simply get much less for your money. And ultimately, who cares if a sale gets "slightly" better, as long as you get in before the sale goes away... that's when housing prices have rebounded and interest rates are on the rise. Then you'll be sitting pretty in a home with rising equity and a low interest mortgage. Heck, you might be able to get EVEN MORE when you sell if your low interest mortgage is assumable**... but that's another article entirely.

*Note that P&I payments don't include property taxes or homeowners insurance. Your total house payment is known by the initials PITI (principal, interest, taxes and insurance). Two of those items are tax deductible and will usually save you some money on your income taxes... do you know which ones or what the decuctions mean for your wallet? Call or email me for details.
**Note that FHA loans are still assumable, but the buyer has to qualify. Call or email me for details.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

As The Village at Allen continues to grow, and more stores continue to open, there will be even more shopping nearby before Christmas. Here's a list of what's already open and what else is opening soon... of course all dates are subject to change:

Already open:
Toys R Us, Babies R Us, Best Buy, Dick's Sporting Goods, HomeGoods, T.J.Maxx, Coffee N Cream, Men's Wearhouse, Nate's Seafood & Steakhouse, Smoothie Factory, Uncle Julio's, Verizon Wireless, Which Wich?, Canine Corners Dog Park & Chase Bank

Opening Soon (with tentative opening dates):
Vitamin Shoppe - on or around December 11th
AT&T (Wireless) - on or around December 13th
Mattress Giant - on or around December 13th
Cold Stone Creamery (Ice Cream) - on or around December 15th
Village Smiles (Dentist) - on or around December 16th
Olive Garden - January
Ooo La La (? Somebody tell me what this is.) - January
Sleep Experts - January (Seriously? ANOTHER mattress store?)
Anderson's Furniture - February
GameStop - February
Radio Shack - February
Villa Nails - February (I believe a nail shop is mandatory in all shopping strips/malls/etc.)

Also, The Village at Allen is donating 200 Christmas trees to service men and women, and their families, at bases in the U.S. and abroad. This will be done via the Trees for Troops program (by the Christmas Spirit Foundation). Please stop by the Trees for Troops tent in The Grove* on Saturday (12/6/08) as it is the last day you can write a note of appreciation to our country's service members before the notes are attached to the trees for shipping.
Finally, Carter BloodCare is having a blood drive on December 20th from noon 'til 6pm in the parking lot just east of The Grove*. Giving blood is a great way to give for the holidays and it doesn't cost you a dime. Just imagine if you or a loved one were in need of a life-saving transfusion this holiday season... you'd be so grateful for the gift from those who donated.
   * The Grove is the one-acre park in the heart of The Village at Allen shopping center.

If you always want to get the get the latest scoop on items like these as soon as they are published, Email Me and let me know and I'll put you on my new scoop notification list.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

Just ran across this accouncement. Seems like a good time and a great cause as you get pancakes for a few bucks, and a free pic. of the kids with Santa, while supporting a good cause:
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Kiwanis Club of Allen, Texas 2008 PANCAKE BREAKFAST
ALLEN KIWANIS BREAKFAST WITH SANTA

So, just how bad is the local real estate market? You might be surprised to learn it's doing fine... "local" being the key word. It's very important to note that real estate is local... very local. Real estate related stories on the news are generally WAY to broad to mean anything about your home. Even the Collin County stats below may not tell the true tale or your home or neighborhood (you need a good Real Estate Agent for this). However, they do indicate that, on average, things aren't really as bad as you might have heard. This is especially true if you rely on the "local" news for your real estate info. (or big conglomerate websites like CNN, MSN, Google, etc.). They are all notorious for reporting just the "doom and gloom" around the nation with very little local data that is meaningful to you. So, take a look at the charts below showing this October compared to last. The averages show that, while around 16% fewer homes appear to have sold, those that are selling are doing so for slightly higher than last year. However, we still have some of the most affordable housing in the nation here in Texas. [If you want to see Sold prices and days on market for comparable homes in your neighborhood, check out the MLS Market Snapshot (below the menu to the right).] Combine the stable pricing with the recent dip in interest rates and it's a fantastic time to be buying and selling real estate around here. Most experts agree that prices, and interest rates, won't stay this low forever.

October 2007 - 996 Properties Sold
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Min	575	1	1	0	$19,900	$20,000	$17	0
Avg	2563	3	2	0	$243,083	$233,685	$91	75
Max	9372	7	6	2	$3,500,000	$3,500,000	$373	422

October 2008 - 835 Properties Sold
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Min	809	1	1	0	$26,000	$25,000	$21	0
Avg	2682	3	2	0	$259,178	$247,771	$92	76
Max	9313	6	6	3	$3,300,000	$2,500,000	$390	644

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

For those that haven't checked out the "Street View" on Google maps, you have got to check out this cool, realatively new, feature. It allows you to see things from the street as though you were driving by. While recent years have brought satellite images of better quality, these don't really help when it comes to giving "landmark" style directions or checking out what an area really looks like as you drive through it. Well, leave it to Google to come up with a fantastic new feature that fixes this problem.

Satellite View - Cool and useful, but what does it look like if I'm trying to drive there?

 

Steet View - So that's what I'm looking for...

Ok, maybe you could figure out that you were at the Ballpark in Arlington without needing to see the street view, but you get the point. External, street-level views of houses, businesses, restaurants and more. You can even click on arrows to move up and down the street as though you were driving and pan 360 degrees around your location or look up or down! The only complaint I have is that much of Collin County is not available yet. Lets keep our fingers crossed that they're out taking photos on Collin County streets as I'm writing this.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Ok, a friend of mine (Chris O'Connor) was going on and on about the fact that the "best, most beautifully costumed Santa" that has been at the Stonebriar Center (mall) for the past several years, with a LONG line, is now in Allen (with almost no line). She said that she has waited in line for ages because pictures with him and the kids are so great... and he was at Marion Elementary today with almost nobody in line! He'll be there again tomorrow (11/18/08) doing pictures for students from 10am-2pm and again for anyone/everyone from 3:30pm-7:30pm.

Don't quote me on this, but I heard the picture packages are very reasonable... something like $20 for a 5x7 and four wallets, $25 for double the pics, $35 includes another 5x7 and two 3x5s, and $40 gets you a CD with the images and the copyright... so you can legally print as many copies as you want, email them to family, etc. That's right, if you don't have the copyright (permission to make copies), it's illegal to make copies of professional pictures or scan them and email to friends/family. You're actually stealing from the photographer if you do... but I digress.

After tomorrow at Marion, he'll be at the Village at Allen on the 22nd! That's right, it's rumored that the Village at Allen is getting the super-fabulous "Stonebriar Santa". He's apparently going to be the Santa mentioned in the schedule my previous post here: http://www.realtown.com/ryancave/blog/firstholidayvaa
However, I bet the lines are going to get long in a hurry... so be sure to tell your friends that you got in to see him early because you got the scoop right here on your favorite blog (then be nice enough to send them a link so they can start reading stuff here too). If you didn't hear about this in time, let me know and I'll subscribe you to my blog so you always get notified of the latest posts.

Ho, ho, ho... have a merry start to the Santa season in mid-November.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

The first holiday season kicks off at the Village at Allen in just about a week! I just saw this press release and it sounds like a LOT of good times so I wanted to share it with the community:
---
FOR IMMEDIATE RELEASE: Nov. 12, 2008
Contact: Hillary Redwine, Sunwest Communications
(214) 373-1601 or hredwine@sunwestpr.com 

THE VILLAGE AT ALLEN TO KICK OFF ITS FIRST HOLIDAY SEASON
WITH EVENTS AND SHOPPING FOR EVERYONE 

Festivities start Nov. 22 with Santa’s arrival, a tree lighting ceremony for 35-foot, interactive tree and holiday goody bag giveaway

ALLEN, Texas – The Village at Allen, located at the southeast corner of Stacy Road and U.S. 75 in Collin County, will kick off the holiday season on Nov. 22 from 5:30 p.m. to 8 p.m. with the arrival of Santa in a City of Allen fire truck, followed by a tree lighting ceremony for the shopping center’s 35-foot, interactive tree.
                The Grove, located in the heart of the Village at Allen, will host a number of festivities throughout the evening including live musical entertainment, a visit from Santa’s very own reindeer Donner and Blitzen, children’s holiday crafts and cookies with hot cocoa.

Details for the Saturday, Nov. 22 holiday kick-off celebration are as follows:

·         Goody Bags
The first 350 children to arrive on Nov. 22 will receive a holiday goody bag filled with treats and special offers from The Village at Allen stores.

·         Children’s Holiday Crafts - 5:30 p.m.
Children will enjoy a variety of activities including holiday crafts, face painting and balloon designs. Mrs. Claus will stop by for a visit with the kids and to offer cookies and hot cocoa.

·         Live Musical Entertainment – 7 p.m. to 7:30 p.m.
Holiday carols will fill the air as guests enjoy live musical entertainment in The Grove.

·         Santa’s Arrival and Tree Lighting - 7:30 p.m.
Santa Claus, known by many North Dallas residents as “The Big Guy,” will arrive in style on a City of Allen fire truck.  Immediately following, a ceremony will commence to light The Village at Allen’s 35-foot, interactive tree when Santa and Allen Mayor Steve Terrell “flip the switch” to the tree’s 100,000 lights. Guests can toast the holiday with a complimentary cup of warm cocoa or hot cider and sing along with holiday tunes played by the interactive tree every 20 minutes.

·         KLTY Radio Remote
Family-friendly station - KLTY FM 94.9 - will turn up the volume on fun with festive holiday music during the event.

·         Live Reindeer
Santa’s star reindeer, Donner and Blitzen, will make their first appearance on Nov. 22 during the holiday kick-off celebration.  Be sure to see the reindeer before they head back to the North Pole to rest up for the big night.

·         The Allen Community Outreach (ACO) Toy Drive
Visitors are encouraged to start the holiday season with a spirit of giving and bring unwrapped toys to the donation box located in The Grove at The Village at Allen.

Holiday activities continuing through December include:

Photos with “The Big Guy,” Nov. 22 – Dec. 24
Santa is available for photos and a visit with kids of all ages beginning Saturday, Nov. 22 and continuing through Christmas Eve. Santa will take a break each day from 3 p.m. to 4 p.m. Photo prices start at $14.95, with a variety of packages offered.  Pets will have their own special night for photos with Santa every Tuesday from 4 p.m. to 7 p.m. beginning Nov. 25 and continuing through Dec. 9.  Visit www.villageatallen.com for Santa hours.

·         Letters to Santa, Nov. 22 – Dec. 24
Children wanting a direct line to Santa Claus can drop their letters into Santa’s mailbox, located in The Grove. Santa’s smiling face is on the front of the mailbox and just waiting for holiday wish letters.

·         Visit Donner and Blitzen, Nov. 22 – Dec. 21
The Village at Allen will be home to Santa’s favorite reindeer, Donner and Blitzen, during the holiday season beginning Nov. 22. See the live reindeer Nov. 22 - Dec. 7 (on site each Saturday and Sunday) and Dec. 12 – Dec. 21 (on site each Friday, Saturday and Sunday). Visit www.villageatallen.com for reindeer hours.

·         Interactive Tree on Display, playing holiday songs every 20 minutes, Nov. 22 through the holidays
Festive holiday music and 100,000 bright lights create an interactive holiday experience that will make even The Grinch smile. Bring your camera and singing voice. 

·         Toy Drive, Nov. 22 – Dec. 12
Guests are encouraged to bring an unwrapped toy to donate to the Allen Community Outreach holiday toy drive, benefitting needy families in the community.   Look for the toy box in The Grove to drop off donation items and share the holiday spirit with those less fortunate.

·         Breakfast Break at 8 a.m. and Gift Card Giveaway, Friday, Nov. 28          
Grab a cup of coffee and a muffin, compliments of The Village at Allen, and stay energized for the largest shopping day of the year.  Breakfast will be provided to the first 500 guests at 8 a.m. along with a gift bag filled with goodies from The Village at Allen shops and restaurants. Some bags will contain gift cards ranging from $10 to $50, with two lucky guests winning either a $250 or $500 gift card.

The grand opening for the first phase of The Village at Allen, developed by The MGHerring Group, began in October and will continue throughout November.  Retail stores and restaurants currently open include: Best Buy, Toys“R”Us and Babies“R”Us “R” Superstore, TJ Maxx, HomeGoods, Dick’s Sporting Goods, Men’s Wearhouse, Mattress Giant, Uncle Julio’s, Nate’s Seafood and Steakhouse, Coffee N Cream and Verizon Wireless.  In addition, The Vitamin Shoppe, Ooo La La, Which Wich?, Cold Stone Creamery, Smoothie Factory and Villa Nails are scheduled to open in November. For more information on events and store openings at The Village at Allen, please visit www.villageatallen.com.

About The MGHerring Group

With a reputation for design, quality and integrity, Dallas-based The MGHerring Group has developed more than 30 major shopping centers and regional malls in the United States and Mexico, totaling more than 24 million square feet of retail space.  The MGHerring Group has been recognized with numerous industry awards and is considered by many to be among the top shopping center developers in the nation.
---
Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

If you've ever bought a home, you might have found yourself thinking "I wonder who else has a key to this place?" Most good Real Estate Agents suggest that new owners have the locks changed. If the home was pre-owned, chances are good that SOMEone else has a key. It could be the Seller's friends, neighbors, babysitters, housekeepers, or who knows who. Even a brand new home might have had keys given to contractors or sub-contractors so they could finish up work, or to a Real Estate Agent (I've been handed keys before by Sales Reps. to go open new homes I wanted to view). Often, new homes have special "builder keys" that, once the new homeowner uses their keys, no longer work. But how can you ever be sure of this and/or sure that there aren't copies of the keys you're given after closing on a home (new or pre-owned)? Generally, you can't... so you change the locks just to be safe. Well what exactly does "changing the locks" mean?

Sometimes, pre-owned home buyers are planning on replacing the locks and associated door hardware for cosmetic reasons. Since the new locks will come with new keys, this solves the problem... but it's not the cheapest way, that's for sure. New locks and hardware will often cost hundreds of dollars. And you can plan on spending even more if you have them installed by a locksmith or contractor (i.e. if you're not going to install them yourself).

If the existing locks and hardware are acceptable to you, and you just want a new set of keys (and the assurance of knowing the old ones do not work anymore), most people will call a Locksmith to have the locks re-keyed. Generally, for a hundred bucks or so, you can get a few locks re-keyed without much hassle. If you have a good Real Estate Agent, they might know specialists who do this even cheaper because Agents, obviously, deal with this a LOT. For example, I just got an email about someone who will re-key up to six locks for just $60. So, this route (re-keying via locksmith) is certainly cheaper, and more convenient, than replacing hardware (and much more practical for new homes with nice, new locks and hardware).

For the do-it-yourselfer, you can remove the locks and take them to your local hardware store. Home Depot, for example, will re-key for just $5/lock. So, even with a doorknob lock and deadbolt on front and back doors, plus the garage, you're looking at just $25-$30. For the ultimate cheapskate (or "smart shopper" as I like to call myself), you can re-key the locks yourself with a kit. The kits can be bought in many hardware stores for $10-$20 or you can even order them online. I googled "rekey your locks" and found this: http://changealock.com/. It's good for up to 6 locks for around $15 after shipping! This is not an endorsement (as I've never used their products), but it shows (as usual) that  the more you're willing to do yourself, the more you can potentially save. Just remember that if you don't "change the locks" upon move-in, you'll never know for sure who all has a key to your home.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

Wow... If you want to know what's going with home sales around your home, or in a neighborhood or area you really like, you've GOT to check out the MLS Market Snapshot...

What is the MLS Market Snapshot?

It's just what the name says: a snapshot of the current market. Have you ever wondered what that house down the street sold for? You remember the list price, but how much did they really get? Sales prices aren't public record in all states, and even when they are, it can be tough to analyze trends. Texas, for example, is a non-disclosure state. Sales prices are not public information and the local Multiple Listing Service (MLS – read more below) is generally the only place to find them. The trouble is that local MLS are maintained and paid-for, and thus only accessible, by Real Estate Agents... until now. The MLS Market Snapshot will allow you to see what nearby homes are for sale for (list prices/asking prices), how much they actually sold for (sales prices/sold prices), how long they were on the market (Days on Market or "DOM"), plus graphically illustrate these and other stats along with great community and school data.
Click here to check out the MLS Market Snapshot!
(Note: If you want a Snapshot for an area outside of North Texas, contact me and I'll get you fixed up.)

Why is Our MLS Market Snapshot a "Trusted Resource"?
 (and not just another "market reporting tool")

Most market reporting services offer generalized information, pulled from various places such as public/county records and tax rolls, with a focus on national or regional statistics, with estimates (or averages) of sales prices. Our MLS Market Snapshot offers a "one of a kind" solution that gives consumers extremely local market information direct from their local MLS, giving you a competitive advantage from Ryan Cave, The “Caveman” and The Cave Realty Team that others just don't offer.
Click here to check out the MLS Market Snapshot!

How Else is the MLS Market Snapshot Different?

Our MLS Market Snapshot is a premiere program that maintains a special partnership with area Multiple Listing Services (MLS). This means all of our market data is fresh, real-time information, right from your local MLS database - The primary source of real estate listing, transaction and market data. The MLS is the very place that Real Estate Agents upload all of their listings (real estate for sale); this is the same source that hosts and/or feeds most home searches on Agent websites. Only now, our MLS Market Snapshot will allow you to access the "SOLD" information (such as sales prices and DOM) that was previously only available to Real Estate Agents.

Unlike other sources, the Snapshot can keep you aware of real estate that is For Sale plus that which is SOLD. Also included is great community and school data! Our Snapshot will show data all around a given home, or area, and provide consumers a clear picture of that extremely local real estate market... which is the way it should be. After all, who cares if prices in your region, or even your city, are up 5% if your neighborhood is down 4% (or vice-versa)? You simply can't beat the accuracy and up-to-the-minute data... it's the most comprehensive trend, statistic and market analysis information I've ever seen! If there's anything else like it, I not aware of it (and I try to keep my ear to the ground on stuff like this). Keep in mind, the MLS Market Snapshot is NOT just for Sellers. It's also great for Buyers who want to know what's REALLY going on with home sales in a given neighborhood or area they are interested in.

The best part is that we just need a few seconds of your time, and a few pieces of information, and we'll compile your market data and send your MLS Market Snapshot directly to your inbox for FREE! It is generally sent to you in just about 5 minutes. A potential Seller told me: "The Market Snapshot tool is very cool!... Definitely user friendly... Thanks for keeping me in the loop." (from Joel; Sachse, TX)

I’ve set-up lots of clients with our MLS Market Snapshot and received very positive feedback. It allows them to keep an eye on what’s going on with the market around their home (or the market in their desired area). Now you too can sign-up for FREE and never miss what's happening in your market, or any area that interests you! Plus, you'll also get a free, updated Market Snapshot about once a month with the option to get it more or less frequently (you decide)... or you can cancel it all together. So, what are you waiting for? There's even a sample Market Snapshot you can view... check it out... I know you won't be disappointed.
Click here to check out the MLS Market Snapshot!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

I just heard about the Watters Creek Grand Opening Celebration
It will be Saturday, October 25th from 10:00 AM - 4:00 PM
NOTE: If you didn't see this notice in time, and would like to be emailed whenever I post information about future events and such, please click "Email Me" over on the right and tell me you'd like to be notified of new blog postings.
On to the Grand Opening of Watters Creek: There will be entertainment all day, hourly prize drawings, shopping specials and live entertainment in the evening! Below are just a few of the exciting events at the Grand Opening Celebration you won't want to miss!

Schedule                                                                             Location 
10am  Townview Magnet High School Band Performance ---- Village Green
11am  Cooking Demonstrations with Chef Jon Bonnell ------- Village Green
             (Featured on the "Today Show")
12pm  Meet the Dallas Mavericks Dancers ------------------------ Pecan Tree 
            Complimentary Star Maker Music Video ------------------- Paciugo Courtyard
1pm   David Chicken - Children's Musical Comedy ------------- Village Green  
           Complimentary Portraits by Cl!x Portrait Studios -------- Pecan Tree 
2pm   Arthur Murray School of Dance Performance ------------- Village Green  
           Complimentary Caricatures ----------------------------------- Next to Eddie Bauer 
3pm   Connemara - Fun with Critters and Creatures ----------- Village Green 
6pm   Live Entertainment - Rob Holbert Band -------------------- Village Green 

View the full schedule of events here.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

A friend and business associate who is looking into real estate investing (for rentals) asked me question about homes up for auction and what I thought of them (i.e. homes with a starting bid of $50K yet an appraised value of $250K). I thought I might share my email response with the world (keep in mind real estate is local; these comments are about the DFW area/market):
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I believe that homes up for auction can be a high-risk/high-reward proposition (especially high-risk for the novice real estate investor). [I was asked about doing the inspection before bidding] Inspection rules (i.e. when they are allowed) are dependant on the auction house, so we would have to check with each one (not just on when you can inspect them, but on who pays for utility connection & service). I'm not a big fan of auctions because (in most novice investor's cases) you have to outlay money for an inspection with no guarantee of getting the home. If the inspection results show the home is horrible, like a traditional purchase, you probably don't want it and have already wasted your time and money (as is often the case with auction & floreclosed homes). If the inspection results are moderately clean, the home will probably sell at auction for much higher than you had hoped... only there is no guarantee that you'll get it (in which case, again, you wasted time and money on the inspection). Most of the hard-core investor-buyers are doing inspections themselves on these homes (costing them nothing but their time). However, I've seen it cost them plenty more as things were missed (depends how good at inspecting they are [and if they do a more formal inspetion later]). The biggest difference is when you buy a home through traditional means (i.e. not at auction), you lock the property up for very small amount (usually <$100) with a contract before you spend anything on an inspection (and the Seller turns on/pays for the utilities).
That brings up one of the things I wanted to discuss in-person, but now's as good a time as any: How much work are you two are looking for?
If the answer is "lots" (i.e. we're going to live, eat & sleep there while making most of the repairs ourselves; hiring out only the "biggies" like foundation repair & roofing) then there can be significant "Sweat equity" found in homes in need of lots of repairs (as is often the case with auction homes). However, if you plan to hire the work out, then there is generally not much (if any) equity left after the bills are paid. Of course, hard-core investor-buyers put together crews that can do the work for less (because they are going to be doing work on multiple properties for the investor). This can quickly become a full-time job though...
If you're just looking for homes in need of "a little" work (i.e. paint, carpet, a little sheet-rock, etc.) you should know that these homes tend to sell for much more. The free-market tends to adjust for condition pretty well (i.e. better conition = better price) [in a market that is flooded with more homes than DFW, you may find better prices]. Again, if you do the work yourself, you might have a little extra equity. If you hire it out, I've seen it cost more than what little extra equity was supposedly in a "deal" of a home.
In closing, I'll say that I think an auction is a fine place to find deals if you're very risk tolerant (i.e. it can be a fine place to lose your shirt; so as long as you can afford to buy more shirts and try again [you'll probably be ok]...). I prefer the more traditional method of finding a fair deal on a home that is in good condition and in an area that will rent well and provide income for years to come. The idea is to pay it off and cash-flow. I think too many people fall into the trap of looking for a "deal" only to find that the price-tag to repair it, and the time it sits vacant, cost them far more than if they just bought something that was in good shape to start (unless you're talking about fixing & flipping houses, a whole other topic). Remember, our market is not that bad here. So, there aren't tons of wonderful homes selling dirt cheap like the media might have you believe. Maybe in CA, NV or FL (where home prices were severely over-inflated before), but no so much in TX (where our prices have been stable). Typically, if a home is cheap [here in DFW], there's a reason for it... and unless our market becomes much worse, the reason is almost always the home's location or condition. Hope that helps.
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Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

I just ran across this recent press release (below) about the grand opening of The Village at Allen (SE corner of Stacy Rd. and 75/Central). It made me think about an interesting point mentioned: this is one of the biggest mixed-use developments in the U.S. and it is THE biggest mixed-use development in Texas. So what is a mixed-use development? How does it differ from the typical, single-use development we're used to seeing? Well, it's not JUST a hotel, or JUST retail (i.e. a strip-mall), or JUST an entertainment venue (like an area, movie theater, etc.) but it is some combination of two or more of these (and/or other) land uses in one general area (read the wikipedia definition here). Once you've read the info. below, please post a comment/your thoughts about the development (i.e. "I love the additional shopping" or "I hate the urban sprawl") and give specifics about what you love/hate the most. I'm interested to hear some of the public's opinions (click on "Post a Comment" just below my contct info. at the bottom of this article):
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FOR IMMEDIATE RELEASE: Oct. 15, 2008
Contact: Hillary Redwine, Sunwest Communications
(214) 373-1601 or hredwine@sunwestpr.com

THE MGHERRING GROUP ANNOUNCES GRAND OPENING OF THE VILLAGE AT ALLEN

First phase of largest mixed-use development in Texas to include national retailers Best Buy, Toys“R”Us and Babies“R”Us “R” Superstore, TJ Maxx, HomeGoods and more

Allen, Texas – The first phase of The Village at Allen, developed by The MGHerring Group, opened today at the southeast corner of US 75 and Stacy Road in Allen.
The grand opening of the first phase will continue through November as retail stores and restaurants open each week.  Best Buy and Uncle Julio’s were the first tenants to open at The Village at Allen, having celebrated their grand openings earlier in October.
Other retail stores and restaurants opening in October include: Toys“R”Us and Babies“R”Us “R” Superstore, TJ Maxx, HomeGoods, Dick’s Sporting Goods, Men’s Wearhouse, Mattress Giant, Sleep Experts, Nate’s Seafood and Steakhouse, Coffee N Cream and Verizon Wireless.  In addition, The Vitamin Shoppe, Ooo La La, Which Wich?, Cold Stone Creamery, Smoothie Factory and Villa Nails are scheduled to open in November.
The Village at Allen is one component of The MGHerring Group’s  3-million-square-foot, regional, mixed-use lifestyle center located in both Allen and Fairview, which is currently the largest mixed-use development in Texas and also one of the largest in the United States.
“Our goal for The Village at Allen, in combination with The Village at Fairview, is to create a superior retail and entertainment destination for the residents of Collin County, offering everything from national retail stores, specialty shops, casual restaurants and fine dining to a variety of entertainment options,” said Gar Herring, president of The MGHerring Group.  “We are excited to open the first phase of The Village at Allen and look forward to continuing the momentum as additional phases open throughout 2009.”
 The second phase of The Village at Allen will open March 8, 2009 and include Super Target, PetSmart, GameStop, Red Robin, Cheddars and more. Upon its completion, the center will feature 1 million square feet of retail. Other components include a 220-room Courtyard® by Marriott® Hotel with an adjoining 35,000-square-foot conference center (opening fall 2009); the 6,275-seat Allen Events Center (opening November 2009); and 500,000 square feet of office space.
As development for The Village at Allen continues, several common area enhancements will be added including: Canine Commons Dog Park; The Grove, featuring an outdoor fireplace and pavilion; a children’s play area with playhouses and a Texas-shaped hedge maze; a one-acre park; two lakes; and a hike/bike trail.
The Village at Allen is being developed in conjunction with The Village at Fairview, opening Aug. 5, 2009. The two developments will be separated by Stacy Road but were designed and are being developed as one project. Upon completion, the project will span 400 acres and include 2 million square feet of retail and 1 million square feet of office, residential and hotel space.
The MGHerring Group recently completed another development in the Dallas area – Uptown Village at Cedar Hill, located at Highway 67 and F.M. 1382 in Cedar Hill, Texas. Uptown Village at Cedar Hill opened March 12, 2008.

About The MGHerring Group
With a reputation for design, quality and integrity, Dallas-based The MGHerring Group has developed more than 30 major shopping centers and regional malls in the United States and Mexico, totaling more than 24 million square feet of retail space.  The MGHerring Group has been recognized with numerous industry awards and is considered by many to be among the top shopping center developers in the nation.
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Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

I just heard about the first annual "Taste of Watters Creek" and it sounds like a blast. If you haven't been to Watters Creek and all of the wonderful shops and restaurants, this will be a GREAT opportunity to experience much of what it currently has to offer (with even more to come). If you have already visited Watters Creek, then you can only imagine how much fun this event will be.
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Taste of Watters Creek

What: The first annual “Taste of Watters Creek” will feature the best of a dozen dining and specialty food locations as well as wines from around the world to complement the cuisine. Guests will enjoy a casual, leisurely evening on the Village Green with live music as they enjoy their wines and sample appetizers, entrées and desserts from an international menu provided by the fabulous dining and specialty food locations of Watters Creek.

When: Thursday, Oct. 23 - 6:30-9 p.m. on the Village Green

How Much: $30 per person and $50 per couple in advance; $40 per person at the door, if available.* A portion of the proceeds to benefit Collin County Meals on Wheels.

Who: The evening's appetizers, main course and desserts will be provided by Brio Tuscan Grill, Celebrity Cafe and Bakery, Cru - A Wine Bar, Grimaldi's Pizzeria, Market Street, Mi Cocina, NAAN Korean Grill and Sushi Bar, P.F. Chang's, Paciugo, The Cheesecake Factory and Woodlands American Grill.

How: Tickets may be purchased by:
Email: watterscreek@trademarkproperty.com
Phone: 972.747.8000
Or by visiting the Watters Creek Management Office at 970 Garden Park Drive, Allen, TX 75013
Cash, Check and all major credit cards will be accepted.
*Attendees must be 21 years of age.
For more information please call:972.747.8000
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From what I know of the Watters Creek development and developers, this event will be a first-class, fun-filled evening... and it even benefits a good cause (Meals on Wheels). Enjoy!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

AllenOnline.com is Giving Away AHS Football Tickets!

That's right, FREE Allen High School football tickets... and there is still time to register for these FREE tickets to the remaining Allen Eagle home football games. To enter the drawing, and for complete details, you can visit the AllenOnline.com Community Forums and click the Allen Eagle logo on the right side of the page. Or you can click here to visit the Free AHS Tickets section in the Community Forums at AllenOnline.com.

Also, Allen Online has a Ticket Exchange section in the Classified Ads. You can click here to visit the Ticket Exchange section in the Classified Ads at AllenOnline.com.

Remaining AHS Home Games on the Schedule:
- October 10, 2008 vs McKinney Boyd (Homecoming)
- October 24, 2008 vs Jesuit
- November 7, 2008 vs Wylie (Senior Night)

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

Register to Vote by October 6th so that you can Vote in November's election.

Will it be President McCain or Obama? State Representative Ken Paxton or Challenger Robert Virasin? Who do you want to represent you at the county level - Joe Jaynes or Victor Manuel?

These important decision are yours come November 4th. Homwever, in order to be eligible to vote you must register by October 6th. It's easy to register. Visit www.txprosperity.com to download your registration form.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

I just got this great email from my uncle Chris and thought I'd share it:
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Friends
I am teching a show in Washington DC, for Deloitte ( an Audit, Tax, Consulting & Financial Advisory Services firm) with Alan Greenspan (former chief of the federal reserve under Reagan, Clinton, and both Bush’s) and some of his top associates, talking about the financial turmoil that is happening right now. I am, by no means an expert on any of these issues, so here are some notes and quotes that I just typed as it was going on, FYI: 
*WAMU (Washington Mutual Banks) was taken over by JP Morgan last night. WAMU doesn’t exist anymore.
*There are no more investment banks in New York, any more.
*The 700 billion $$ that the Govt. is asking for can be used to buy bad mortgages, “or ANYTHING ELSE deemed necessary at the time”.
*All current investment and deposit (what you have in the bank today) are protected by the FDIC up to $100,000, but it is not clear yet, that any future deposits (what you put in tomorrow) and investments will be insured AT ALL.
*This industry is going to come under massive govt. regulation.
*SOME GOOD NEWS AND ADVICE: Look into the Treasury Bond market, it has the best Yield curve in the market and is a great indicator for when we are in recovery. The curve is very steep and getting steeper, which signals a potential for mid to long term recovery.
*Even though the rest of the developed world is in a recession, the U.S. Export growth in August was 20%. A good sign.
*”Neither of the present presidential candidates seem to have a very good understanding of Economics!. Obama has flip-flopped on increasing taxes, saying that might be a very bad thing in a recession. That is a good sign that he may be finally getting it.”
*This is more of a capital crisis than a liquidity crisis. Not many more banks will go under.
*The Total hole (losses) caused by this recent wave of failures is between 1 & 2 TRILLION Dollars in losses!!!
*Car loans, credit card limits, consumer credit , basic loans are being pulled back, they will be harder to get with this slow down in lending, which could cause a domino effect in more bank closures. Luckily, our banks have been well funded going into this crisis.
* Don’t be surprised if we see another Fed rate cut.
* Bottom line, Credit will get more expensive over the next year.
*These guys think that the “Polson” plan will calm the markets, but won’t really solve the bigger issues of insolvency in capital. That can only come with time.
* These guy’s personal investment strategies are to invest in many diverse investments: i.e. large cap, small cap, equity and bond, overseas. Don’t focus on the current swings in the market. Stay invested for the long term.
*THE biggest point made was: “ If the $700 billion bail-out plan is not defined by 10 pm Sunday night ( When the Japanese stock market opens) trading and money markets, auction rate securities ARS, commercial paper, short term funding, etc. will most likely be thrown into a major turmoil.” BE AWARE and keep your eye on the financial news!!!! The outlook isn’t that gloomy if our Govt. can come up with a plan BEFORE Monday Morning! “Congress cannot go home until this credit issue is resolved.”
*This crisis will end when the prices of homes stabilizes.
* Greenspan says that the Bailout is a BAD idea, but he believes an intervention needs to be put forth, to solve this credit crisis, and being a "freemarket conservative" he says that when this crisis is over, things will pretty much shake out to normal only with a lot more regulation and much higher credit rates.
* Ultimately his message ws vey positive, that we will get through this in the short term, and that the long term looks as good, if not better, that it ever has! (THANK YOU!!!)

I hope this gives you a little more insight into the current financial wrangling of our Gubberment, at least, according to these guys! Take it all with a  grain of salt and do your own fact checking before making any rash moves with your money or investments!!!

 Christopher
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Thanks Chris! That's great stuff!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

An inside source just gave me the opening dates for many of the merchants in The Village at Allen (SE corner of Stacy & 75). So, if you just can't wait to go shopping there, mark your calendars! In order to publish these, I had to swear to make note that "All dates/times are subject to change." While the dates/times for the bigger stores are pretty solid, those for the smaller stores could certainly vary by a day or two... So, with all the disclaimers out of the way, here you are:

Happy shopping!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

I'm not talking about a theater (as in a building most people associate with movies), I'm talking about a theater with theatre... where thespians act and you can enjoy it with friends and family live and in-person (all without driving more than a few minutes from your home). The Spotlight Theater is right here in Allen, TX and has an encore presentation of "Lost in Yonkers" playing at present. However, they need the support of the community... so if you love the perfoming arts, the Spotlight Theater is asking you to buy tickets and answer the question for their future: To be, or not to be (that, after all, is the question). All kidding aside, I got this in an email from a friend:
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PLEASE SEND OUT TO ALL ON YOUR MAILING LIST AND POST FLYER WHERE EVER YOU CAN.  WE NEED YOUR SUPPORT TO KEEP THE THEATRE ARTS IN ALLEN TEXAS.  THANK YOU IN ADVANCE FOR YOUR SUPPORT!!!!

Spotlight Theatre Presents:
Neil Simon's - "LOST IN YONKERS"
Encore Presentation!
September 25th - October 19th
Back By Popular Demand!
For Tickets Call: 972-649-6140
www.spotlightallen.com
109-B North Greenville Ave. Allen, Texas 75002
(next door to Brookshire's on the NW corner of Main St. & N. Greenville Ave)

WANT TO SUPPORT US?  BUT A TICKET FOR THE SHOW and BRING YOUR FRIENDS AND FAMILY!
WE ALSO NEED SHOW SPONSORS, INVIDUAL SPONSORS, ADVERTISERS and VOLUNTEERS!
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I hope you go and enjoy the show!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com