Dallas-Fort Worth Real Estate and Homes

 

The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:

Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line

Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are

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tips for home buyers in Keller, TX and surrounding areas

It's Not Always All About the Money

You've been watching the online listings of homes for sale.  You want just the right school district, and a reasonable distance for your commute.   You've driven by a few homes, attended open houses, and toured several after work and on weekends too.  Finally you find that perfect house to call a ‘home.’   The price is right, but you know in a competitive market you'll need to make a great offer to guarantee that your dream of making this house yours comes true!

Here are 4 steps to consider when making an offer in today's market:

1. Don't Get Pre-approved.  Get Loan Approved

As agents, it seems like we're always trying to impress on home buyers the importance of getting pre-approved before looking at

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Keller, Southlake and Trophy Club homes for sale
Mortgage interest rates have risen over a quarter of a point in just the first two months of 2018,  and Freddie Mac's US Economic and Housing Market Outlook is projecting a steady increase of interest rates throughout the year,  Many suggest rates could reach 5% by the end of the year. Now those of us who have been around a while recognize 5% interest rates are still a "gift", having seen rates much higher in the past.  Several of us who were in the market in the mid to late 1980's even remember 12-14% rates.  Still each increase, especially when combined with increasing housing prices, bodes poorly for homebuyers sitting on the fence.

What impact will rising rates have on home values?

Just as in years past, I'm starting to hear some potential home

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Mortgage Interest Rates affecting home buyers in Keller, Southlake, Trophy Club

Is Waiting to Buy Your Road to Nowhere?

For several years now rising home prices in Keller, Southlake, Trophy Club and other North Texas areas have forced home buyers to expect less and less for their home buying dollars.  Now rising interest rates appear be an additional factor those considering a home purchase will have to navigate as well.  Just like rising home prices, rising mortgage interest rates have a direct impact on your monthly payment and which homes you can qualify to buy.  

And each step up in rates, especially when combined with increasing housing prices, bodes poorly for those sitting on the fence.

Where are mortgage interest rates going in 2018?  Below are the projections from Freddie Mac’s U.S. Economic & Housing

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Selling your Keller or North Ft Worth Home?
Buyer Traffic is Even Stronger Now then Last Spring

Why the ALL CAPS and Exclamation points?  The North Ft. Worth, Keller and Trophy Club market has been on fire for home sellers for a few years now. But now that the final numbers for the 2017 area housing market are in, one thing is clear:  It's time to list your house.

How did we wrap up in 2017?

  • New-home sales were at their highest level in a decade.
  • Sales of previously owned homes were at their highest level in more than a decade.
  • Starts of single-family homes were their strongest in 10 years.  Plus new home permit applications grew to the fastest pace since August 2007.

And Bloomberg Business just reported: “America’s housing market is gearing up for a robust year ahead.

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Drop in Keller School District Home Values

58% of Homeowners See a Drop in Home Values Coming

Over half of US homeowners believe there will be a "housing bubble and price correction" between now and mid-2019.  That's according to a survey by ValueInsured, a company that sells insurance to homebuyers that reimburses housing downpayments should the market decline.  Now, I am not familiar with ValueInsured, and the point of this post is not to encourage you to check out their product.  But their "Modern Homebuyer Survey" sure caught my eye. I can certainly understand the concerns potential home buyers and owners have about the rise in housing prices, especially with a still fresh memory of the downturn less than a decade ago.  But this market has little in common with the forces of that

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Lock In Your Housing Expense

Lock in Your Housing Costs Now


Is now the time to lock in your housing costs?  I got a call this week from some renters who have put off buying a home in the Keller School District because housing prices have risen.  They often say they waited because the housing market was going up so fast.  But now these folks are starting to realize they can't save for a down payment faster than home prices are going up, and their rent is increasing too.  There are lots of advantages to homeownership, and as these renters are realizing,  one of the top advantages is being able to protect themselves from rising rents by locking in housing cost for the life of a mortgage.

It’s Cheaper to Buy Than Rent

The latest Rent vs. Buy Report from Trulia shows that

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Southlake Housing Market Bubble

Are We In Bubble Territory?

Home values continue to rise across Dallas/Ft. Worth, as well as the nation.  And home buyers in Keller, Southlake, Colleyville and surrounding areas are starting to ask if we're entering another housing bubble.  Fair question.  It's certainly one you'd want to know the answer to if you're considering plunging into the housing market.  Zillow just reported that:

“National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.”


So if you buy a home today, you may well be paying the highest price the home has sold for...   But are we in bubble territory?  The Zillow comment is correct; the Dallas/Fort Worth area has passed previous peak home

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Homeownership The American Dream

Measuring DFW's Ability to Achieve the American Dream


Have you seen Forbes.com's  new American Dream Index?   They just released this latest examination of "the prosperity of the middle class".  This new monthly index measures a multitude of economic factors broken down by state.  Some of the factors Forbes look at include employment items like goods-producing employment, unemployment insurance claims, labor force participation, and layoffs.  Other items such as personal and commercial bankruptcies, building permits and startup activity are also reviewed. 

The full results can be seen in the map below.

 

Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index last month:

“[B]usinesses are hiring in…
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List your Keller home today

Supply and Demand is Shouting 'List Your Home Today!'

Do you remember much of what you learned in school about supply and demand?  You may not recall much of Economics 101, but this is one lesson you surely reconginze; when demand is greater than supply, the price will rise...

SUPPLY

A six month's supply of homes for sale in Keller, Southlake, Trophy Club is generally considered a "normal market" - not favoring sellers with rising properties or buyers with bargain prices.  This area, like most of the rest of the nation, is reporting about a 3.8 month supply of homes available according to The National Association of Realtors (NAR).

 

DEMAND

Like supply, The National Association of Realtors also reports monthly on the numbers of

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