Okay, so it is not amazing! Really, over the past week we saw an uptick in inventory of single family resale homes in the 20 school districts we track. Not all of them increased but there was more inventory overall but only by 16 homes. However, this is the first time in weeks we have seen an overall increase compared to the previous weeks since the beginning of the year and even further back into 2022. What does this mean? Good question! It is to soon to tell but if this trend continues it means more people are confident about putting their homes on the market. There has been plenty of news about single family new home construction permits falling by leaps and bounds in some areas and hopefully this will help the buying public when it comes to finding a

Sometimes that is how I feel abut the information I hear from certain news outlets. It can be frustrating to the public when searching for accurate information. I am going to give you the statistics from our MLS on what happened in February on resale homes in Collin County. Our team puts together at the end of each month graphs that show data comparing the specific month we just finished with the past 4 years for this specific month. This way we can see the trends and it allows us to make assessments about the market. So let's take a look at the median sales price for the county. It was $482,500 which was up 1/2% of the same period in 2022. This means that prices stabilized over the last few months. However, we are also tracking other factors that might

The answer? Not on the market yet! Over the past 12 weeks, we track 20 school districts in north Dallas and Collin County. These areas give us a good indication weekly of what is happening with homes coming on the market. Something we did not expect is that inventory of single-family resale homes has declined since January of this year. Historically, it is not unusual for those wishing to put their homes on the market to wait till March, however, this year might be different. Why? Those who had better mortgage rates may decide to wait to see if they come back down. Although, that is not usually a major factor for moving, but it is one that home sellers do consider. What they should understand, based on the information we have, if they wish to move then

Over this past month, my team and I have listed and closed 4 homes and also helped 2 buyers find homes in the area. January and early February was busy. The homes we sold were sold at or slightly above list price and sold in a very short amount of time. Are you seeing some listings that are sitting on the market for a long period of time? Homes that sit for longer periods of time usually have just a few things that keep them from selling. The key is to know what those things are and to quickly address them early in the selling process. Over the years, I have found that if we can eliminate the things that keep a home from selling up front, those we represent are extremely happy with the results. 

Over the years we have developed a system that enhances

As I look out my window all I can see is all this white stuff! It isn't snow but more like sleet and maybe snow mixed in. I had to make sure that some of the homes I am selling that are vacant had their heat on so we wouldn't have any busted pipes. Yes, I do that for my sellers who have already moved and have their home on the market. Anyway, that is just what we do for those we serve. I also check in frequently with my sellers as well as my past clients just in case they need any advice during this type of weather. I am happy that I can be of assistance when they need it. Here we are at the end of January and the beginning of February. What has happened in the Collin County Real Estate Market? History tell us that January is not one of the most active

Are you listening to the media or are you getting the facts from someone who can give you the straight scoop? You might say, yeah, but Realtors just want to sell you a home? First of all Realtors don't sell you a home, the seller does. The Realtor is contracted to service their client to help them buy or sell a home. I just want to get that out of the way. In this market at this time compared to September of this past year, I would say yes it is a good time to buy. Why? If you were wanting to buy in September or maybe even in October of this past year you may have had to bring a large sum of cash to the closing table. Today that is not the case. Yes, interest rates have risen. But how long would an extra $200 a month take to pay $50,000 off. I use that

"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

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

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

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