Roxanne DeBerry-I was asked about what changes are there for people getting mortgages. There really hasn't been much of a change in qualifying for a mortgage. There has just been changes to those who provide mortgages and additional paperwork that needs to be filled out by those getting a mortgage. I would suggest speaking to a mortgage professional about the recent changes. Call us if you need a great mortgage professional to speak to.
Recently I was asked how the economy was going to effect real estate in the north Dallas and Collin County areas. First, we have been blessed with very good employment which is always good for real estate. As long as our state continues to attract companies to the area and new inhabitants, our market should be good for this next year. At present our biggest issue is inventory. We need more homes to offer to those who are interested in buying.
This past week saw inventory of homes remaining low however activity increased significantly. In the 20 areas that The DeBerry Team works within approximately 421 homes went into "active option" and 106 homes went "pending" and 155 homes sold. All of the previous numbers were up significantly from a week previous. Mortgage rates remained stable. Buyers and Sellers are taking advantage of this market.