The past couple of months have been crazy! Homes that are in good condition, show ready, and priced right are flying off the greater Dallas market. It's almost like the good old days. Two of our recent listings had multiple offers within a week of going on the market and several of our buyers had to pay list or above in order to secure a contract. The buyer's market in north Dallas area is over in the under $200k price range.
There's been a lot of speculation as to the reasons but many first-time home buyers have been sitting on the fence waiting for rates to bottom out or the economy to stabilize.
This may last well into the normal spring sales season unless something bad happens to the economy. The run-up in oil prices and the impact on fuel prices could send them back on fence.
If you've been thinking about selling your home and moving up this may be one of the best times in history to do so. Homes under $200k are moving, prices are likely at the bottom, and interest rates are insanely low. We closed a home a couple of weeks ago with a 15 year mortgage at 3.00 percent and another recent closing had a 30 year FHA mortgage at 3.875 percent.
We have many resources on our website:
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Feel free to contact us if you have questions or need more information.
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Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.
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The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963
Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.