"Beware of false knowledge; it is more dangerous than ignorance"-George Bernard Shaw quote. In real estate, information can be looked at in many ways and for those who have never really worked with this data it could be confusing. When the national news broadcasts information about the housing market what are they including in that data? Is it just single family homes? Is it condos or townhomes? Is it ranch and land and does it also include commercial real estate? Without the specifics it is hard to know what the data is based on. The market in Collin County for "single family resale homes" is reverting back to a "normal trend" that progressed to the end of 2020. I have often said, that the "markets in our area went completely off a normal trend line" of…

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I am not saying that you need to run out and buy a home immediately. What I am concerned about for buyers is that inventory moved up through October 23 of 2022 and since then has continually come down from that high. In other words, we were seeing about a 2.1 months of inventory and up to that point it was continually increasing. Since then it has dropped back to about 1.6 months of inventory on resale homes in North Dallas and Collin County. This is still much more than months previous but not moving in the right direction or holding like we would like to see. The urgency? If I was a potential buyer of residential real estate looking to purchase a home, I would factor this information into when is the right time to buy. Why? If you recall, there were…

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As this year comes to a close. I want to thank all those who used the service of The DeBerry Team for their home buying and home selling needs. At the first of the year it was a little frustrating for some of the buyers trying to outbid someone on a home. Today as we move into the new year that has changed. I feel that it is a good thing when buyers of homes have choices and that they have the opportunity to compete on a more level ground as we have today and going into 2023. Our sellers may not receive the way over asking price but I know that our team will be able to get them more for their home than many of the other Realtors in the market. We have a great program for making that happen. I will talk more in detail about this program next year..

Some…

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Banks & Mortgage companies may increase rates based on the Fed .50 increase. Recently that hasn't really affected mortgage rates much. They actually moved down over the last few weeks. We will wait and see where they go now. How does that affect a home buying decision. If I used my argument of one of my past blogs, I would say don't let these things keep you from purchasing a home. Why? First, 5 months ago you would have had to bring a lot of money to the closing table. Today that is not the case and so interest rates don't have the affect of what happened recently. In fact, I think it is better not to pull money out of a 401 or other savings accounts just because you had to out-bid a person for a home. I would rather spread my risk over a longer period…

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Here we are in December and wondering where did the year go? As we all get ready for the holidays things like this go through our heads. With that said, our team has been helping both buyers and sellers with their real estate needs. November stats for single family resale homes have shown what I have been talking about in previous posts. Demand is down from the past 2 1/2 years and inventory, interest rates have increased. This time of year is typical to see demand dropping and the interest rates has had some cooling effect as well. However, we are still selling homes. There was 621 single family resale homes closed in November in Collin County. In perspective that beats years 2011, 2010, 2008, and 2003. On average over the past 18 years the average for…

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Really! Come on news, you need to check your historical information. Why do I say that? I read an article recently that said we are in the worst real estate market since the "great recession". My answer, "Bull!" Let me give you some facts using Collin County as an example. In October of 2022 closings were down from the previous year. However, if you look at our 20 year history the average amount of closings were about the same and in fact, if you take out the pandemic years the closings are almost right on their average number of closings for the month of October historically. That's a fact. Has the market changed from the pandemic years, yes it has. Thankfully it is returning to some sanity. What do I mean by that? The two plus years of the pandemic…

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In every market there is pluses and minuses. For the past 2 and a half years the real estate market was abnormal due to the pandemic. Some of you may remember the 80's when interest rates were 18% or higher. Today that is not the case. During the pandemic home prices did escalate way beyond their norms and inventory of homes was at an all time low. What is different in both these areas today? Home prices are still elevated but seem to moving back to their normal increases. Yes, they are still elevated but like with all corrections they will adjust to the "new normal". Inventory has grown but is lagging behind the norm, that too will increase over time. The market will adjust but there shouldn't be any fear of selling or buying a home at this time. With…

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This is a question that comes up with first time home buyers or investors looking to profit from buying and selling homes. The people we work with are those who are looking to start a family, downsize, increase the size of their home due to a growing family and a host of other reasons. People may want to move to a neighborhood where they have friends or to an area that has a school system they feel is better for their children. There is a host of reasons for purchasing a home and most that we work with, other than investors, are more concerned about the home itself, the location and if it will fit into their budget. 

Home ownership is a very personal decision. My husband and I lived in an apartment when we were very young. However, after a couple of…

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Great Question! Let's just look back two months ago in the Collin County and North Dallas area. Supply was short, competition for homes was fierce, frustrations were high and disappointments happened all to frequently. Ask yourself, "what are the negatives today"? You might say that interest rates are higher but should that be a big disappointment when looking to purchase a home. Sure, it is a consideration. Today, a buyer for a home has much more choices and is not facing escalating home prices due to the shortage of homes. Are homes still priced higher than in the past yes they are. However, that is true year over year. 

Today our economy in Texas is still very strong and based on all the articles we read, I don't see that changing any time soon. If…

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When it comes to deciding whether to sell your home takes in a lot of factors. For me and my husband we sold our last home about 6 years ago. It was a big decision for us and we knew we had a lot of work to get our home ready to receive the best offer on it. Of course, you may say the market was different back then, however, it really wasn't much different. My personal experience of selling our own home and helping people buy and sell homes over a long period of time has given me a unique perspective on the best ways to get homes sold and to get the best price when selling them. 

The preparation is key before putting homes on the market. Setting the right price is key to attracting the most amount of buyers in a certain price range. Once that is in…

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