Found 14 blog entries tagged as Buyers.

Does this sound familiar? Where are we in Collin County on resale homes? Inventory for them has not increased to 2019 levels, yet. Demand was not as high for resale homes based on pending sales in June compared to the last 4 years. Interest rates have gone up and down but not as good as they were over the past few years. Will they ever return to where they were? To be frank, no. Get use to the new normal.  Medium home prices were lower than last June for a resale home. However, they were higher than what they were in May. What does this mean? The market is stabilizing and that is all it means.

Yes, we can all look at our “real estate crystal ball” and say one thing or the other. The fact is the fact. Inventory is still lower than it was in 2019 for…

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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…

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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…

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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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My answer to the above headline, Bull!!. The sky is not falling! The market is changing but in real estate the market always goes through changes. Let's talk a little about what is causing the commotion about what people are now seeing or starting to see in the Collin County market for resale homes. First, lets look back a little bit over the past two years. Before ever going into the pandemic, housing supply in Texas was already not keeping up with demand. Then the pandemic hit. Wallah! As if by magic, people saw home prices escalating at a phenomenal rate. The shortage of inventory caused a feeding frenzy for the available homes and when that happens prices escalate. This competition between buyers led to multiple offers and offers way above list…

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As I told people in May the market was changing. So what do I see right now in July? Much more inventory has come on the market in our area over the past two months and that is giving buyers a lot of choices. When buyer's have a lot of choices that means offers for homes will also change. Why? When sellers have more homes to compete with then to get their homes sold they will need to be more willing to look at offers that are not like those that came in two months ago. In fact, those offers have basically come to a halt. We might see a few offers come in slightly above list but most are now coming in at or below list price. Buyers are being told by their Realtors that they are not facing the kind of competition on each home as they were before, which…

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In Collin County, no matter how you view it, it looks like we are seeing some changes. However, not as dramatic as they could be in the very near future. What do I mean? When you compare both resale homes and new home sales for like periods, in other words, April 2022 to April 2021 it may look as if the market is still on the upswing. However, when you go from January through April of this year you can see some trends going in the other direction. One of the things that we notice is that inventory seems to be lower in April of this year compared to April of last year. However, when we look at January through April of this year inventory is steadily climbing upwards and if this continues on the track it is on it will exceed last years inventory. The same…

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2021 is fast coming to a close. It is risky business predicting the future and even more so when predicting “residential real estate”. Why do I say that? Could we ever imagine a virus that would shut down businesses, keep people at home, no in-person schools and with all that, a really hot real estate market! To say the least, these last two years have been extremely unusual. I don’t think anyone could have predicted how all this would shake out, especially me, and I have sold real estate in some unusual times. However, I think this one was the most unusual and unexpected.

The big issues in the market have been low inventory of homes both new construction and resale homes, multiple offers, not only multiple offers but multiple offers way above list…

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The DeBerry Team closed approximately 100 homes this past year in spite of the virus, virtual closings, virtual showings and  prepping for personal showings. We adapted and we overcame!! This past year was very strange due to the virus. We started off the year gang busters and then in March things started to quiet down and that lasted for about 3 weeks. Then, for some unknown reason the activity started back up with a bang! We were all scrambling to help clients find homes in a low inventory market and to sell homes that were receiving multiple offers. Busy doesn't describe how busy we actually were. People wanted to move and to buy homes and we were there to assist them and protect them during the real estate process due to the virus. The DeBerry Team…

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The Market in Collin County for both new construction and pre-owned homes continued on a rampage in September. What do I mean! Competition for homes coming on the market are fierce in many areas. What does that mean? Multiple Offers! We are deep into a "Sellers' Market". However, mortgage rates are at all time lows and that is generating a large demand for homes. We started the year with very low inventory and with this high demand it is gobbling up our inventory at a rapid pace. Many areas are now only 1.5 months of inventory or less and that is all types of single family homes. The median price for most new construction homes have increased and that may be due to a large increase in the cost of lumber. I have been told that the increases are upwards to…

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