North Dallas & Plano Real Estate Blog

As we go through this year, inventory has grown but is still extremely tight. In Collin County there s about 2.2 months of inventory. A balanced market is considered to be about 6 months of inventory. Low inventory means higher prices. Low mortgage rates makes home buying better but finding the home you desire might be a challenge. New home construction is on the rise and is difficult to track how much that is having on the ease of getting a home, but we have noticed more new home purchases over the past couple of years. So lets take a look at the statistics for a May to May comparison starting with May 2013 and then the May's leading up to and ending in May of 2016.

Homes For Sale: May 2013=2,872, May 2014=2,621, May 2015=2,303, May 2016=2,881

752 Views, 0 Comments.

Well 2016 has started off with a bang here in Collin County. Median home prices started at $280,000 in January and at the end of February they trended upward to $290,000. Days on Market went from 22 days in January to 17 days so the trend show that homes are moving very fast in the county. I also noticed that homes were selling at or even above list prices in some cases. In January the Months Supply of Single Family homes was listed at 1.4 months of supply. and in February the months supply went up to 1.6 months supply of single family homes. The trend is heading upward but at a crawl. This means prices will remain on the high end for some time in the future since it takes about 4.5 months of supply to get to back to a relatively balanced market. In

1,068 Views, 0 Comments.

2015 was a very interesting year in Real Estate in 46 areas in and around Dallas. I know it was for "The DeBerry Team". I listed and sold over 92 homes this past year. Yes, that's right 92. My buyers agents closed another 67 transactions for a total of 159 closed transactions. I am not counting the leases we did since we don't usually that is not a primary business. I am very proud of how our team performed this year.

The market was very interesting because the dollar volume of real estate transactions went up considerably this past year from approximately 13,870,149,199.00 to 15,347,720,080.00, approximately a 10.7% increase in the sales volume this past year based on the 46 areas. Median Home Prices were up 7.3% however home sales or units sold were

724 Views, 0 Comments.

Over the past 40 years I have sold thousands of homes. No not one, not 50, not hundreds, but thousands. During this period of time I have sold in markets with low interest rates and extremely high interest rates and everything in between. I have sold in both buyers and seller markets over many years. So why does this matter? First, I do have a unique perspective of the market, buyers intentions, and of changing home values and the reasons for them. This all plays into how I formulate a value that will set the best price for my sellers home and that will attract the most possible amount of buyers for their property. I am one of the few Realtors that actually walks through a home before I do a listing presentation so that I can take notes on the condition,

903 Views, 0 Comments.

As we approach the beginning of a new year, many of us like to organize, sort and get rid of things that just add clutter to our life.    And many of us have multiple files of real estate papers for various transactions we have done throughout the years.   Some are current documents for recent transactions.  Some are for houses that you have long since sold.  And some may be for refinances of previous transactions.  Many of us tend to keep the entire package given to us at closing, which just take up space.   So the question is, what should you keep and is there anything you can get rid of?

As a title company closer, I personally have purchased, sold and refinanced many properties over the years.    I’ve had a tendency to just add each new closing

836 Views, 0 Comments.

I do not have a "crystal ball" when it comes to predicting where our real estate market will go in 2016 but I think I can make some educated guesses. First, let talk about what is happening now in the market. Prices in the Collin County-North Dallas area have seen 10% increases plus in some areas. Inventory of homes for sale has remained low and this is causing the price increases. Less homes to purchase, high demand and the market dynamics work as they always do, prices go up. Next, interest rates have been subdued which means they are favorable. This is the market that exist today. So what's next?

2016 will remain a very tight market for at least the first half of the year. It takes time to build inventory. If we don't build inventory of homes for

902 Views, 0 Comments.

3rd Quarter Statistics              
COLLIN COUNTY Single Family-All Price Ranges-Resale-All Sizes-All Ages (years)  
Median Figures 3 Bedroom       4 Bedrooms and Up    
Category Jul Aug Sep   Jul Aug Sep
Sales Price $217,000.00 $220,000.00 $216,000.00   $327,000.00 $322,500.00 $315,000.00
Original List Price $229,900.00 $225,000.00 $229,500.00   $349,000.00 $335,750.00 $349,250.00
Price Per Sq Ft $117.00 $116.00 $116.00   $113.00 $111.00 $112.00
Days On Market 9 7 8   13 14 20
% of Original Price 100.1% 100.0% 100.0%  
775 Views, 0 Comments.

People think realtors sometimes stretch the truth about renting versus buying based on mortgage rates vs rental rates. I have attached a link that explains what is happening in some major cities across the U.S. as well as the Dallas/Fort Worth area. Hope this explains why purchasing a home is a good idea.
674 Views, 0 Comments.

The information provided is from the North Texas Real Estate Information System. The figures provided are the median numbers for each category. Median means the middle number and not an average. This gives a more accurate picture of the various areas that are tracked. Here is the complete information:

2nd Quarter Statistics            
COLLIN COUNTY Single Family-All Price Ranges-Resale-All Sizes-All Ages (years)  
Median Figures 3 Bedroom       4 Bedrooms and Up    
Category Apr May Jun   Apr May Jun
Sales Price $219,900.00    $215,000.00    $225,000.00   $310,000.00   $335,100.00  $329,000.00
Original List Price
767 Views, 0 Comments.

I blogged not to long ago about the misconception of qualifying for a mortgage. I also wanted to let people know about first time home buyer assistance programs that might be able to assist people with a home purchase. I have provided a link to this information Of course you can always call us at 214-215-5106 and we will be happy to assist you. Thank you for allowing "The DeBerry Team to be of service.
672 Views, 0 Comments.