Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 17, 2023

Local Market Report

It's necessary for homeowners to keep up with the local real estate market. The housing market experiences new trends and shifts every month, which can have an impact on the value of your house as well as the sector as a whole. We'll be looking more closely at the monthly local market report and how it might help you.

 

Whether you're looking to purchase or sell a house in Dallas, TX, or in other cities, the local market report is a valuable resource. It offers useful information about the current health of the housing market, such as the number of homes for sale in Dallas TX, the median property price, and the average days on the market. You can keep up with these developments by remaining informed.

 

For instance, if the local market report shows that there are many houses for sale in Dallas TX, this may indicate increased seller competition, which could lead to reduced property prices. This may be a fantastic chance for a buyer to get a house for less money. Consequently, fewer houses for sale in Dallas, TX may result in higher home prices, making now a fantastic time to sell your house.

 

Understanding the prospective value of your home is another advantage of the local market report. Comparing your home's attributes to those of comparable houses in the neighborhood, such as the number of bedrooms, bathrooms, and square footage to other homes in the area, you can get a better idea of what your home is worth. 

 

If you're considering refinancing your house, taking out a home equity loan, or simply want to know how much your property is worth, this information may be beneficial. (Click here to get a FREE Instant home valuation.)

 

In conclusion, it is crucial for any homeowner to stay current with the local market report for the month. You can make better choices when buying or selling a property if you are aware of the current situation of the housing market which includes the number of houses for sale in Dallas, TX, or any other cities, the median home price, and the typical days on the market. Check out the most recent local market report to take advantage of this important information.

 

Local Market Report for August 2023 - TEXAS

 

 

 

 

 

 

 

 

 

 

 

 

 

Source/Information Credit: ListReports

 

Aug. 10, 2023

About 11,000 Houses Will Sell Today

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.

According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

  • 4.16 million homes divided by 365 days in a year = 11,397 houses sell each day
  • 11,397 divided by 24 hours in a day = 475 houses sell per hour
  • 475 divided by 60 minutes in an hour = about 8 houses sell each minute

So, on average, about 11,000 homes sell each day in this country.

A real estate expert can give you more information about how many houses are being sold in your neighborhood, the amazing advantages that sellers are experiencing right now, and the most important things buyers are searching for in your area. Together you’ll use this knowledge to shape how you market your house based on local trends. 

Bottom Line

If you’ve been waiting to sell because you don’t think there are buyers out there, know today’s market is active. Every day you wait, around 11,000 other homeowners are selling. In the time it took you to read this, eight homes sold. When you’re ready to sell too, let’s connect.

 

Source: Keeping Current Matters

Aug. 7, 2023

Four Ways You Can Use Your Home Equity

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.

According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: 

While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner.”

Here are a few examples of how you can put your home equity to work for you.

1. Buy a Home That Fits Your Needs

If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you've got too much space, downsizing to a smaller home could be just right. Either way, you can put your equity toward a down payment on a home that fits your changing lifestyle. A real estate agent can help you figure out how much equity you've got and how to use it when buying your next home.

2. Reinvest in Your Current Home

Renovations are a great option if you want to change your living space, but you aren’t yet ready to make a move. Home improvement projects give you the freedom to tailor your home to match your needs and personal style. But it's important to consider the long-term benefits certain upgrades can bring to your home’s value. Lean on a real estate professional for the best advice on which improvement projects to prioritize in order to get the greatest return on your investment when you sell later on.

3. Pursue Personal Ambitions

Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life.

4. Understand Your Options to Avoid Foreclosure

Today the number of foreclosure filings remains below the norm, so there’s no need to fear a wave of foreclosed homes flooding the market. But unfortunately, there are still some homeowners who experience the foreclosure process each year. If you’re facing financial difficulties, having a clear understanding of your options and how your equity can help is crucial. Equity can act as a financial cushion that can be used in times of unexpected challenges or unforeseen circumstances that may disrupt your ability to make mortgage payments on time.

In an article, Freddie Mac explains it this way:

If exiting your home is the best option for you, selling with equity may be a good option. When selling with equity, you are using the proceeds from selling your home at a higher price than the amount you owe on your mortgage to pay off your remaining mortgage debt.”

Bottom Line

Your equity can be a game changer in reinvesting in your needs, pursuing your goals, and even helping you avoid foreclosure during difficult times. If you’re unsure how much equity you have in your home, let’s connect so you can start planning your next move.

 

Credits: Keeping Current Matters

March 29, 2023

4 Key Tips for Selling Your House This Spring

 

Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several years. To sell your house quickly, without hassles, and for the most money, be sure to follow these four simple tips:

 

1. Make Sure You Give Buyers Access

 

One of the biggest mistakes you can make as a seller is limiting the days and times when buyers have access to view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’ access to view it. If it’s not accessible, it could cost you by sitting on the market longer and ultimately selling for a lower price.

 

2. Make Your Home Look as Good as Possible on the Inside

 

For anything to sell, especially your home, it must look inviting. Your real estate agent can give you expert advice on ideal staging for your home. Even updating a room with fresh paint, steam cleaning carpets, or removing clutter from the garage can make a big impact.

 

3. First Impressions Matter

 

The old saying “you never get a second chance to make a first impression” matters for you to get your "sell my house fast" goal to come true. Often, the first impression a buyer gets is what they see as they walk up to the front door. Putting in the work in on the exterior of your home is just as important as what you stage inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact on potential buyers.

 

4. Price It Right

 

This is probably the most important aspect of achieving your "sell my house fast" in today’s real estate market. If a house is priced competitively, it’s going to sell. Period. To do this, you have to know what’s happening with home prices in your area and understand the factors that are affecting the market right now. That’s why it’s best to work with a trusted real estate professional who can ensure you list your house at the right price.

 

Bottom Line

 

Everyone selling their home wants three things: to sell it for the most money they can, to do it in a certain amount of time, and to do all of that with the fewest hassles. To accomplish these goals, let’s connect so you can understand the steps you need to take to sell your home this spring. 



For inquiries or assistance: SoarWithEXIT@gmail.com

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Get a FREE Selling E-Guide Spring 2023 Edition



Source: KCM

 

Tags: sell my house fast

March 8, 2023

Is It Really Better To Rent Than To Own a Home Right Now?

 

You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on.

 

A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, the methodology behind one of those reports says that renting is the smarter financial option because of the opportunity to invest money elsewhere. It assumes renters take the money they’d spend on costs tied to buying a home and put it in an investment portfolio. But here’s the thing – most people who rent aren’t making those investments. 

 

The reason homeownership is one of the best investments you can make is the wealth it helps you build. That’s why there’s a significant difference between the net worth of the average homeowner and the average renter. 

 

According to Federal Reserve, a homeowner's net worth is more than 40x greater than a renter's net worth. Meaning, If the homeowner's net worth is $255,000, the renter's is only $6,300.

 

So, before you renew your rental agreement, think about the opportunity to build wealth that homeownership provides.

 

If you’re unsure whether to continue renting or to buy a home, let’s connect to help you make the best decision.

 

Source: KCM

 

Tags: Homeownership, Buy vs Rent, Homeownership

March 2, 2023

Happy Read Across America Day!