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MAY 10, 2013 | 1B

1st-Time Buyers Cant Be Passive

Heres what you need to know to get the best deal
BY GEORGIA FISHER People Newspapers

Luxurious backyards have become go-to spots for cooking and entertaining

Inventories Stay Lower Than Usual

Some properties not even being listed before closing
BY DAN KOLLER People Newspapers

Having a home of ones own is a reasonable enough goal, but that doesnt make the buying process simple or intuitive. If youve never been down the path, its not stuff that you traditionally think about, said Steve Habgood, a real estate agent with Dave PerryMiller & Associates. You may talk with friends, and that may be helpful, but we find that the more information about a new home a buyer can garner, the better off theyre going to be. KNOW YOUR SPENDING POWER Youll obviously need a good real estate agent in your corner, but be sure to find a reputable lender and secure your finances first. Some first-timers set their sights on a house and a mortgage before theyve had a realistic look at their savings or bolstered their savings account at all, for that matter. Minimum down payments are typically 5 percent. Craig Jarrell, a mortgage broker who heads Iberiabank Mortgages Dallas division, said he gets calls every day from people who say, I want to buy a house. When he asks how much theyve saved for a down payment, the most common answer, unfortunately, is none. Credit, employment status, rental history, and other factors certainly affect your loan eligibility, but everybodys totally different on how much house they can qualify for, Jarrell explained. You just need to sit down with a lender before you ever talk to a Realtor, or ever go out and look at houses and get all excited. EMBRACE THE SELLERS MARKET The bottom of the market has passed, and sales are up, said Lydia Player, of Ebby Halliday Realtors. With home inventory at
See BUYERS, Page 7B

CHECK THE CHARTS

First-quarter stats on single-family homes, 4B

Everywhere you turn in Dallas, you see houses. But the ones that are for sale are increasingly hard to find. According to MLS statistics compiled by the Real Estate Center at Texas A&M University, the inventories of singlefamily homes in the neighborhoods served by People Newspapers were significantly lower in the first quarter of 2013 than they were a year earlier. In the Park Cities, there was an average of 3.6 months worth of singlefamily homes for sale in the first quarter. That means if

no other houses came on the market, it would take 3.6 months for the listed homes to all be sold. In the first quarter of 2012, that same statistic was a more robust 5.8 months. Six months worth of inventory is considered a healthy market. In Preston Ho l l o w, t h e s t a t i s t i c dropped from 7.8 months worth of single-family homes to 4.5. In North Oak Cliff, it went from 4.6 in the first quarter of 2012 to a mere 3.0.
See MARKET, Page 4B

LEGENDS OF REAL ESTATE

STAFF PHOTOS: CHRIS MCGATHEY

Carl Box remodeled his Bent Tree backyard to make it the ultimate entertaining spot.

OUTDOOR INFLUENCES
BY CAITLIN ADAMS People Newspapers

ong days and warm temperatures are upon us, and with them come an onslaught of outdoor entertaining. But before you inflate your inner tube and invite neighbors over for burgers and brats, you should know that the ante has been raised this year. According to a recent survey by the American Society of Landscape Architects, elaborate outdoor living spaces are in this season, along with fireplaces and terraces. Gone are the days of playing in the sprinklers and firing up the charcoal grill. Its all about dining al fresco and showing off your outdoors, tripledigit temperatures and all. While pools are still popular for cooling off, homeowners are gravitating toward entertaining in style with fully stocked bars, ample seating, and top-notch appliances. Some people dont want the maintenance of a pool, Allie Beth Allman & Associates agent Susan Bradley said. But they all love the

PHOTO: VIRGINIA COOK REALTORS

City Councilwoman Linda Koop honors Virginia Cook for her support of the Northaven Trail in February.

Cook Strode Many Miles to Sell Acres

Editors note: This is one in a series of stories profiling the personalities in the real estate business.
The hot tub (above) is a great spot to view the TV and replace in the cabana (top).
BY CAITLIN ADAMS People Newspapers

outdoor, deep, covered porches with ceiling fans and plenty of space. And homeowners are turning up the heat, going head over heels for anything with fire, Bradley said, including fire pits, fireplaces, and grills.
See OUTDOOR, Page 6B

More than 40 years ago, Virginia Cook was trudging up and down Preston Road in the dead of winter, pleading with homeowners to let her list their house. Today, youll still find her near Preston Road, but shes since traded in

her walking shoes for a corner office. A lot has changed in the course of a few decades, but Cooks passion for helping families find homes has remained constant. Its an industry made for me, she said. But for someone who has been in the upper echelon of producers in Dallas real estate since her start, Cook didnt have an
See COOK, Page 4B

You Dont Have to Wilt in Summer Heat

There are ways to fend off pests, scorched earth
BY CAITLIN ADAMS People Newspapers

STAFF PHOTO: ALLISON SLOMOWITZ

The lawn and landscaping outside this house on Fairfax Avenue in Highland Park is maintained by Land Patterns.

Hot Texas temperatures can wreak havoc on lawns and gardens, but if you play your cards right, theres plenty you can do to nurture grass and plants to keep them thriving all summer long. Lawns of Dallas owner Doug Smellage said rou-

tine maintenance is the best defense. A lot of people go out there and do something once a month, and then it becomes a beast of burden, he said. Smellage said mowing on a weekly basis instead gives residents the opportunity to notice any water issues or insect activity, both of which are serious business for Lone Star landscapes. Fighting the bite is on the forefront of many homeowners lists this summer, but sometimes

even the best of efforts dont make much of a difference. Insects dont know property lines, said Marc Funderburk , owner of Land Patterns. Even the strictest plans and best intentions can fall short. You can have the best organic program in the world, but your neighbor could be nuking the land, Smellage said. You have to be logical about what is realistic. Trimming ground covers, being careful not to

overwater, and doing frequent soil tests are a few things to keep mosquitoes and bad insects at bay. But dont freak out if you see a spider or two. Funderburk said not all bugs are created equal, and some can even be beneficial to plant life through pollination and killing other bugs. Smellage said one of the biggest mistakes a landscape enthusiast can make is being too overprotective of their plants.
See GARDENS, Page 7B