North Dallas & Plano Real Estate Blog

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

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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

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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%  
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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.
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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
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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.
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Below are the 1st quarter statistics for 3 & 4 bedroom and plus statistics. This information was provided by North Texas Real Estate Information Systems. Remember these are stats for the whole of Collin County by month by many not reflect what is actually going on in your neighborhood or subdivision. If you require information on getting the value of your home, please call Roxanne DeBerry with "The DeBerry Team" of Keller Williams Realty. I hope you find this information beneficial.

1st Quarter Statistics              
COLLIN COUNTY Single Family-All Price Ranges-Resale-All Sizes-All Ages (years)  
Median Figures 3 Bedroom       4 Bedrooms and Up    
Category Jan Feb
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As a realtor I get this question frequently. First, it really depends on your personal situation. If you are a first time home buyer without a home to sell then the market may dictate your decision as well as interest rates. For those who have homes to sell then the market doesn't make as big a difference but interest rates may bear on your decision. Why doesn't the market matter for those who own homes. If the market is up then you will get a premium when you sell your home and when you go to purchase you will have to purchase at a premium as well. If the market is down then you may get less for your home but you will also pay less for the next one so the market doesn't play a big factor in the decision. However, mortgage rates may be a factor for you as…
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The 4th Quarter result are in for Dallas & Collin County! In Dallas we saw a steep drop of units sales from Q3 To Q4 This was also evident in Collin County. Inventory of homes for sale also showed a steep decline in both counties from the 3rd to 4th quarter. Part of this effect is normal due to the holiday season. The average price in Dallas remained stable through the end of 2014. In Collin the average price of homes continued to climb through the end of the year. What does this mean for 2015? I believe that we will continue to see multiple offers on homes in the area since the inventory of homes for sale is very low. Until the inventory moves up to balance the demand we will continue to see escalating prices in some areas more than others. Mortgage rates…
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Some people just say I want to go look at homes in a certain area but never really have the criteria that matters most written down so they can evaluate the key things that will make their home choice the right one. You sort of picked an area, why? Because of it's location to your work, schools, shopping, parks and recreation or maybe family members.

Are you looking in the area that is going to give you the most bang for your buck? In other words is getting the most for your dollar really important? Are homes you are looking at meet that criteria? Is drive up appeal important? Is the looks of the neighborhood important? Is a new home more preferable than a pre-owned and why is it more important?

Are their going to be drawback to the home? On a busy

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