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Low inventory signals definite SELLER'S MARKET! What does this mean for buyers?

Total home sales in the past month were up nearly 8% over last year! We have had the highest level of real estate purchases since 2007. These numbers could have been even higher because of the number of people trying to buy but have not due to low inventory.

Buyers are finding it difficult to not only find homes but to get offers accepted as well. Buyers are competing for homes in multiple offer situations. Many homes are selling for ABOVE asking with MULTIPLE OFFERS within DAYS of being listed.

As a buyer, it is imperative to have a Realtor by your side, ready to show you houses and negotiate contracts for you in this fast paced market. With many houses selling within days of being listed, waiting even a couple days to see a house could cause you to miss out on it.

Buyers in this market need to be prepared to submit strong offers! With most homes having multiple offers and selling for above asking weak or low offers will likely not be...

Is it a Good Time to Refinance

         As you have heard on the News lately, interest rates are still at an all time low, but no surprise, experts are predicting that they will start going up in the near future with our improving economy.  If you now own a home and have no plans on moving, you may want to think seriously about Refinancing to a 15yr. Mortgage. While it may cost you a few bucks in the beginning, in the long run you will save a bundle, not to mention getting your home paid off a lot sooner at a lower interest rate and building a lot of equity at the same time.  Then down the road when, and if you decide to sell, that equity will come in handy toward your new home.  Talking with a Lender (which may I add will not cost you anything) can give you the exact figures on what you can save.

Here is a little more info on the state of our Housing Market. In 2015...

Once Small town of Burleson Texas is now in Demand.

The once small town of Burleson Texas, now is ranking forth out of 100 Cities and Towns surveyed throughout Texas, it was chosen as one of the Best Places for Young Families to live and raise a family. The cities and Towns chosen had populations of over 25,000 residents. The criteria for the honor include public school excellence, home affordability and growth and prosperity. " Lower home values and housing costs in Burleson make this the most affordable city in the Top 10". It is hard to find a home in Burleson lasting on the market for more then a week. If it is priced right, it is gone.

All over the DFW area buyers are encountering this problem and are ending up in multiple offer situations. If you are a serious buyer in todays market be ready to buy when you start looking and be ready to offer asking price or better if you want the home. It is a Sellers Market and will continue to be for sometime to come.

As Your Trusted Realtor...

More Chisholm Trail Progress as we explore Oakmont

Please visit the first post of this blog, and then continue to subsequent posts from there.

It has been a while since I posted. My apologies! I have been busy serving my clients. I have missed posting! I hope not to go so long without posting any more.

Last time we explored Cityview, next stop on the Chisholm Trail

...

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 offers...

Wow Way to go Terry & Janis Spear... Great Start to 2013

Terry & Janis Spears North Dallas RealtorsTerry and Janis with Nu Home Source Realty have hit the road running for the 2013, talking with many old clients who seem to be ready to move forward with their plans for 2013. Terry has been working with a client for 6 month who has been looking for a special piece of property to build his new home on and they finally found it and got the offer accepted for 1 Million dollars closing in February. They also listed two homes for sale and got an offer on one of them the first week. Janis showed a home in Garland the first day on the market and her clients loved it so an offer was prepared only to find out the seller already received two other offers and had already accepted one of the other offers on day one! They also talked with several...

Hines Taps Colvill Office Properties

Hines, a Houston-based privately owned real estate company, announced recently that the leasing and marketing of its extensive portfolio of owned and managed properties in the Dallas and Houston areas will be handled by Colvill Office Properties.

Included in this portfolio are fifteen buildings in Dallas and Houston with total floor area of around 12 million square feet of class A office spaces. Among these buildings are the Chase Tower and The Plaza at Legacy in the Dallas metro area. With Colvill handling the Hines's portfolio, its scope has expanded to a total of 20 million square feet of office space for leasing and marketing in Texas. On account of the additional work load, the firm expects to hire seven additional brokers just for the Colvill account.

Bucking the Trend

This new assignment opens for Colvill the opportunity for expansion into...

Busy Week for Terry & Janis Spear with Nu Home Source Realty LLC

Janis & Terry Spear - Mckinney Area RealtorsTerry and Janis with Nu Home Source Realty were busy this past week working on the 7 contracts they wrote in November to make sure all inspections were done and repairs negotiated, checking to see all the needed information was sent to the lenders to insure smooth closings for their clients.

Even though it's the Holiday Season they are still getting inquiries from people wanting to move to the North Texas area so they set up searches for their new clients plus they are finding it's a good time to follow up with their older clients who are still looking and trying to make the decision to move to a new home or sell their current home.

Janis showed a couple from South Texas three...

The Dallas Foreclosure Advantage

Dallas - Fort Worth ForeclosureWhat with the misery that foreclosures cause for the homeowners concerned, it's not surprising that many people look at them as something that is negative. However, while it's never much fun for homeowners to be booted out of their homes, it's also true that they bring advantages to the rest of us.

More homes on the market

The most obvious benefit is that since the foreclosure crisis began in 2007, we have seen a vast number of new properties appear on the market, which means that homebuyers have never had it so good - their choices are numerous and widespread, and what's more, they can buy a property that is in excellent condition at a price that is far lower than they could have hoped for previously.

Going through the Dallas foreclosure listings even now,...

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