North Dallas & Plano Real Estate Blog

“Collin County Resale Home Stats-August”

The market for resale homes in August is typically more robust in closings than what we had this August.  This August closings on resale homes were down from other August time frames. Why is that happening? We have a lot of things going on today that we haven’t seen for quite some time. Home prices escalated significantly during the pandemic era moving up home prices above the normal increase that we normally see each year. Interest rates moved up significantly then settled back down at a lower rate. Inventory of resale homes increased significantly which gave those looking for homes a lot more choices which in itself can slow down the rate of purchasing a home. Overall, though, the past two months have shown lower closings. Closings normally take 45 to…

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What services are included in a realtor’s commissions being charged?

Agents that are looking to gain your business will explain what services you will be getting for hiring them as your agent. Agents are not employed (in most cases) as an employee but they are independent contractors. This means they are in their own business. How do they get compensated? In most cases it is through a commission fee. Not all realtors charge the same fee and therefore it is up to the consumer of these services to get the services they need at the fee they desire. Commissions to realtors are negotiable. Consumers of real estate services have the opportunity to make the best decisions for themselves based on services being offered at the commissions being charged for those services.

Do all realtors offer the same services for the fees they…

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“Interest Rates, Inventory, Buyers or Seller’s Market”?

Questions about this market can be confusing when looking at the national news. However, it really isn’t that complicated. Let’s start with interest rates. As of about August 8th interest rates have moved to a favorable 6.34% which is much better than last year at this time. Inventory, has grown significantly in all areas of the DFW area and that has increased the ability for home buyers to have more choices. It has also given home sellers more competition to deal with.

There are areas of the DFW area that I would consider a buyer’s market because the inventory has reached close to 5 months. However, the real estate gurus would say unless it is over 6 months it is more of a balanced market than a buyer’s market. I disagree. Why do I disagree? I am…

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“Why is increased inventory of homes good for home buyers?”

The local market statistics of available homes to purchase has increased 40% from last year. What does that mean for the buyers looking for a home? They will ultimately have more choices. It also means that they will, most likely, look at more homes before making a decision to purchase a home. What does this cause? Answer: Homes sit longer on the market.

Make no mistake, it doesn’t mean that all homes are all sitting longer. Why? Some are priced aggressively to sell and those will move off the market quicker. Buyers need to have great information to be prepared to make a decision immediately on these highly desirable homes. Sellers need to be informed by their realtor how to price their homes to get it sold quickly and if it is not moving then they…

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“Choices-New Construction vs Resale Homes”

In the Collin County area, we have seen many home buyers purchasing new construction homes. Why is this happening? The first reason is that the inventory on resale homes remained low and building of new homes continued to be strong. Another reason was that interest rates went up and builders had the flexibility to offer “buy downs” which helped people get into new construction homes. However, inventory of resale homes has increased and now there are lots of options for home buyers to choose from. Another factor is that with the increased inventory of resale homes, home prices have moderated since the pandemic era.  

Resale homes offer certain advantages that new construction homes don’t. Resale homes are in an established neighborhood that the buyer…

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"What is it like to live in Royce City?"

Our team has been listing both resale and  brand new construction homes in this city for quite sometime now. This town has been showing some amazing growth due to all the beautiful new neighborhoods that are in this area. What makes it so attractive is it is close to highway I30 with quick access to George Bush Tollway. Just a short drive into the wonderful city of Rockwall as well. This gives those living in this area the ability to take in the lakes and all the recreational activities in the area. Some really nice golf courses are in this area. as well. Living here you will have some great dining experiences that are unique to this area. The charm of this small town is really inviting for those looking for a great atmosphere with lots to do when it…

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"Real Trends Recognition-2024"

My team and I are so proud to be recognized by Real Trends this year. Thanks to all of our clients that allowed us to help them with their real estate needs. The DeBerry Team of KW Legacy 214-676-8040

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"Realtors-Thinking Of Joining A Team?"

Realtors-Are you thinking of joining a team? Most Realtors join a team for a few reasons. They wish for someone else to furnish leads to them to help generate business. They may also want the support of a team so that they can have the ability to take time off from the real estate business. By being on a team the upfront expense and workload can be reduced by the support that a team offers..

Teams differ in systems, methods and procedures and if considering joining a team it is good for an agent to interview with the team to see what each of these team offers. The size and function of these team models may vary considerably and therefore it is good to find out what model may be a good fit for your personal requirements. When joining a team you as a…

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"April Resale Home Stats-Collin County"

April Showers brings May flowers! In Texas it is the bluebonnets showing up in our state. The real estate market was showing some real positive signs in Collin County. The DeBerry Team tracks stats for both resale homes and new construction that is listed through our local MLS. What did we see in April compared to April of 2023? Sellers should be feeling pretty good since the medium price of resale homes increased 3.4% over the same time last year. These homes had a median day on market at 10 days which was exactly the same amount of time as last year.

Due to the increase in the amount of inventory of 1.6 months last April to 2.9 months this April home price offers have been coming in slightly below list at 99.4%. This is only about a half a percent…

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“Property Tax time in Texas!”

Texas does not have a state income tax but collects tax from property owners. The notices have already gone out and any protest need to be lodged by April 15th. These taxes are extremely important for funding the states programs. Property taxes are high compared to other states but lower than some that also have both a state and property taxes to pay.

The key to protesting property taxes is checking with a realtor that does this type of service for their clients or past clients. The DeBerry Team has been helping people with these things each and every year for a long, long time. We don’t charge anything for assisting those that need our help but we do ask if they know of someone looking to buy or sell a home to please give us a call. In fact, The…

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