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Do you think we are in a Sellers Market

For the last several years, home sellers had to compete with huge inventories of distressed properties causing them to sell at discounted prices or hold, in hopes that the market will change.  The great news is that the supply of these properties is falling like a rock off a mountain, in a large majority of US housing markets.  Many homeowners are now thinking of selling as the impact of this substantially discounted competition has all but disappeared. However, every seller of an existing residential property must realize that now with the shortage of pre owned homes that sellers are now in strong competition with the new home construction market.

According to the National Association of Home Builders, new home sales in August were up the highest since 2008. Builders are seeing increased traffic and more serious buyers due to in part, to buyer frustration, in finding pre owned homes and competing with multiple...

When is a good time to Buy Your New Home.

What a different housing market we are in now, compared to just a few short years ago.  When sellers were selling their home, they were forced, in most cases to accept offers below asking price and paying closing cost to boot, and in some cases, they gave the buyer anything they wanted just to sell, also interest rates were then at a record low 3% range, which made it a great time for buyers to purchase a home.

Buyers were told at the time that this will not last and if they truly want to buy a home, they had better do it soon, some listened and some didn't.

Well now the tables have turned, interest rates are up to the high 4% to low 5% range. Sellers are getting multiple offers within days of listing their homes and in most cases they are getting more then their listed price.

This Home buying frenzy we are now seeing is not...

Is it the right time?

I get asked this question more than any others:

"Is it the right time to buy or sell a home?"

The answer is YES. Prices and interest rates are at an all time low.  These two factors are going to change in the near future. Today, we got indication from the FED that interest rates will go up when unemployment get below 6.5%. The economy is in recovery and unemployment is going down.  It is just a matter of time before interest rates begin to climb. This means that buying a home will be more expensive. As a home seller, this means that a buyer will need to have more reserves or have a higher salary to afford your home.  As a home buyer, this means that the you will be able to afford a less expensive home in the future as opposed to now.

I also see a serious change in regards to inventory.  By inventory, I mean homes on the market for sale to the retail buyer.  Well priced homes in desirable areas are spending less time on the market and the best homes are getting multiple...

Boost for D-FW economy as Housing Bounces Back

Dallas Real EstateTraditionally, the housing sector has been directly influenced by the economy. The way the economy headed largely determined how the housing sector would do. The housing sector is a major contributor to the overall economic health. Spending increases drastically on account of new projects. Some estimates suggest that housing contributes about 15-20% of the GDP during happy times.

However, in 2006, when home prices suddenly crashed in an overheated market, housing for the very first time was the trigger for the sub-prime mortgage crisis and the collapse of financial institutions. Over $7 trillion in home values evaporated & there was rampant job loss. The Dallas-Forth Worth area saw home building dip by over 70% & resale dropped by over a third.

The Texas region, thanks to a vibrant job market & modest home appreciation during the early parts...

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