North Dallas & Plano Real Estate Blog - Home Buying

“Timing The Market-A Fools Game?”

Those who think they can time the market are playing a “fools’ game”. Did I just say that! Why would consumers think they can predict the economy? Is it the right time to buy the right piece of property, yes, or no? The answer is always “yes.” Timing is a fool’s game. You should always be looking to buy the right piece of real estate. By studying history of the market, it allows you to be informed about the current conditions compared to history and that is very important.

Let’s just look at some information from a recent chart that Gary Keller shared at the Mega Camp of Keller Williams Realty. The chart was for the period of 1990 to 2023. In 2006 the median price of a home reached $222,000 which was 21% above the then-trend line. Meanwhile in 2023…

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“Time To Sell? Are you kidding me!”

No, I am not kidding! Why do I feel that it is a good time to sell? Median sales prices in Collin County have risen 7% from January of this year. Next, inventory of homes is slowly growing and this will affect home prices in the future. Now is a good time to sell.

Is demand there? Let me put it this way, is there enough inventory to meet the existing demand? The answer is no. However, we are seeing inventory growing which will give more choices to buyers in the market and the more it does the more competition sellers will have to compete with. Now is a good time to sell while inventory is low.

There are times to take advantage of markets and this is one of them. You can wait and see or you can check with a realtor to find out what the best decision…

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“What’s The Issue? Home Prices or Interest Rates?”

Some would say both. There is some truth to that, however, what has gone up the most? Home Prices! Traditionally home prices escalated around 4 to 6% annually. What we saw during the pandemic is home prices skyrocketing up, in some cases, 24% or more. No matter what the interest rates this is a huge increase. At one time, when interest rates up 18% or more, this was a big issue but homes were still selling. Why? The average home prices were at a level that these homes continued to be affordable.

The old saying really applies to this situation, “what comes first, the chicken or the egg?” Today’s case is home prices. It doesn’t matter what the interest rates are or at least doesn’t matter as much when home prices are affordable. Where do we go from here…

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"The End Of January! But Not The End Of Winter!!"

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…

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"Is A Good Time To Buy A Home?"

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…

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"Market Changes-Panic or Realization!"

"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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"The End of 2022!" On The Horizon A New Year!"

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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"Is The Real Estate Market Scaring You! Don't Let it!!"

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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What Are "I" Buyers?

As a Realtor, I continue to try to keep up with what is going on in the real estate industry. One of the things that I get questions about is what is "I" Buyers. I will try to explain based on what I've read on this internet way to receive offers on homes for sale listed on a particular platform. Today, there are companies that have programs that allow internet offers directly to sellers without the aid of a Realtor Buyer Agent. These internet platforms, as I understand it, represent the seller only, not the buyer. They have some sort of disclosure that notifies the buyer of their representation agreement based on state requirements. At this point, the majority of buyers want a realtor to assist them with making an offer as well as helping with the…

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Collin County- Single Family Resale Home Statistics For 2017!

I always like to share what took place in Collin County over the past year and give you and idea of what we might expect in 2018. Remember, when reading this information that it does not pertain to your specific neighborhood. The only way to find out that information is to send me an email to roxanne@thedeberryteam.com with your name, home address, and your city. Let's look at the stats for 2017 in Collin County for "Single Family Pre-Owned homes. I am going to use "Median" numbers to illustrate different aspects of what took place. Here we go! Overall North Texas saw about a 5% increase in closed sales of all type of homes over 2016. However, when you look at the sale of pre-owned homes in for 2017 over 2016 there is some distinct differences. When you…

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