I was recently asked "when will it become a buyers market?" Great Question and a little difficult to answer, but I will do my best. The big driver of the "sellers market" that we are in is because of reduced inventory of homes for sale and the lack of new listings coming onto the market. Also, a key factor to all of this is that the days on market have been shortened greatly because of the lack of homes. So this means when a new listing comes on the market that it doesn't sit there very long. Things that could change this market is higher interest rates, which no one really wants to see or a slowing of the buying activity because of economic issues. I don't foresee the economy in Texas slowing down. It is one of the 'best" in the U.S. The trend is strong
This week is Veterans Day and I am proud to say I am the daughter of a WWII veteran who served 18 months in a German prisoner of war camp. My father was a ball turret gunner in a B-17 bomber and was shot down over Germany on a bombing run. His story of survival is amazing. I am also married to an Air Force Vietnam veteran and our son was a corpsman in the Navy. My nephews served in the Marines as well as my son-in-law. I am proud of all of them for their service. In fact, I am proud all of the men and women who serve in our services for they stand on the line to keep us safe from those who wish to harm us. From my family to all of you, Thank you for your service! Happy Veterans Day To You All!!
The question is "What will interest rates do since the Fed is not purchasing bonds any longer?" At this point they have signaled that they are going to not raise the interest rates they charge to banks which means that rates will still remain very favorable for at least a short amount of time or longer. The big issues that are still hanging over our heads is in the European markets moving toward recession, China's growth slowing, and the conflicts that we are embroiled in. All of these things can have and will have an impact on our economy at some point if they continue to worsen. Our own state of affairs is also a concern because even though we are told our economy is getting better it has not bounced back as it has in the past for numerous reasons. So…
As a realtor I have participated in thousands of home inspections. Each one of them are different since every home has different issues and many are very similar. An inspector will point out things that need attention. The buyer will want to have the seller fix any major issues. One of the things we see over and over again is broken seals on window. Most buyers will want them fixed. Things like AC units can be of concern or possibly grading around the home. The inspector will do a thorough job of looking the home over. Your realtor and you will sit down and go over the inspection report and give any advice on what should or should not be taken care of. The goal is to get anything repaired that could end up being a major expense or a safety hazard. Don't…
Normally when a realtor and a potential client get together they are both trying to figure out something. The realtor, of course, wants to know if the person they are speaking to is really motivated to purchase or sell a home. The potential buyer or seller may want to know what the experience is of the realtor and what they are going to charge them for their service. Realtors are going to want to know if the person has been pre-approved since they want to make sure that they know they can afford the homes that they are showing them and of course so they can move quickly on submitting an offer. The potential client will want to know what the Realtor does to get homes sold or if they are purchasing a home if the realtor knows the area and can demonstrate…
Most people think they know a lot about credit scores. It is a little more complex than people actually know. People believe there are 3 credit bureaus and people recognize the term "FICO" score. FICO stands for Fair Isaac Corporation and what you didn't know is that they have is 55 different scoring models and FICO is not the only company out there that creates scoring models. The mortgage industry is using Beacon 5.0, Fair Isaac Version II, and Classic 04. The Internet Credit Bureaus with all their marketing and selling are not using any of these 3. So to get your accurate credit score to obtain a mortgage go to your mortgage professional.
What do you do everyday to try to get my home sold?
What is the average price range of the homes you have sold?
What is your average days on market?
How accurate are you in pricing homes?
What marketing do you do to attract buyers?
How available to buyers are you everyday?
How available will you be to me if I need to talk with you?
These 10 questions might help in determining who you would like to represent you in selling your home. I have also added a link to another 12 Questions that might overlap some of what I have already put together above. I hope this helps for those looking to sell their homes. If
When making a decision to sell a home you usually want to look at what is going on in the market. Are homes selling for higher prices as in a "Sellers Market" or are homes selling at competitive prices as in a "Buyers Market". My advice here is that no matter what the market if you are planning on selling and then buying another home the market really isn't the major decision. The reason I say this is because if you sell when the market is considered a "Buyers Market" you may sell for less but when you also go to purchase prices will be competitive as well. If it is a "Sellers Market" then you may sell for more but you will also have to expect to pay more for the next home. They key is to understand that usually in a "Sellers Market" inventory that you…
In the Collin County, North Dallas area home prices have increase while mortgage rates have remained very favorably. Competition can be fierce on certain homes. Buyers must be aware that they need to come in with their best offer to secure a home and even then it may not be enough. The reason is that you may be competing with a cash buyer and sometimes the sellers feel this is a better deal since the cash buyer does not have to secure a loan and in many cases won't do an appraisal of the home. Your realtor should be advising you when making an offer so just be aware that all offers even at the same price are not always equal because of other factors.
Over the last few months the north Dallas area has seen prices moving upward because of a lack of inventory. This is always the case on all products that become in short supply. However, even though buyers are paying more for a home they are still getting great mortgage rates. If a buyer has a home to sell then usually things even out since you are getting more on the sales price of the home you are selling. For more information about the market or about a specific area, please give us a call at 214-215-5106 and we will be happy to answer any of your real estate related questions.