North Texas Real Estate News, Information and Trends

Covering everything from national and local market statistics to buying or selling a home. Homebuyer or Selling a home, please reach out to us if you have any questions. Let's Talk!

Brian and Melinda Stitzinger

Joyce Sutherland

 

Jan. 19, 2021

2021 and Expectations of Home Values

According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained:

 

“Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.

 

While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.”

 

Where will home values go in 2021?

Home price appreciation in 2021 will continue to be determined by the imbalance of supply and demand. If supply remains low and demand is high, prices will continue to increase.

 

Housing Supply

According to the National Association of Realtors (NAR), the current number of single-family homes nationwide for sale is 1,080,000. At the same time last year, that number stood at 1,450,000. We are entering 2021 with approximately 370,000 fewer homes for sale than there were one year ago.

 

The current number of homes for sale in the Dallas Fort Worth area is 3800 single-family homes.

What Does 2021 Have in Store for Home Values? | MyKCM

There is the possibility inventory will ease as we move through the new year for two reasons:

 

1. As the virus eases and vaccine becomes available, more homeowners will be comfortable putting their houses on the market.

 

2. Some households impacted financially by the pandemic will be forced to sell.

 

Housing Demand

Low mortgage rates have driven buyer demand over the last twelve months. According to Freddie Mac, rates stood at 3.72% at the beginning of 2020. Today, we’re starting 2021 with rates one full percentage point lower than that. Low rates create a great opportunity for homebuyers, which is one reason why demand is expected to remain high throughout the new year.

 

Bottom Line

There’s still a very limited number of homes for sale in the Dallas Fort worth area, homes for sale in Frisco Texas, Prosper Texas homes for sale, Aubrey homes for sale may still remain low. “Supply and demand” mandates that home values in the country will continue to appreciate. Frisco homes for sale, Prosper homes for sale, Celina homes for sale, Little Elm home for sale Call Us Brian & Melinda Stitzinger Realtors® Real Estate Agents

Jan. 5, 2021

Three Must-Do’s When Selling Your House This Year

When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when it’s time to move. Being mindful and prepared for the process can help you stay on the right track when selling your house this year.

 

1. Price Your Home Right. You have to sell your home to a buyer and to the buyer's bank

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe us or not, that’s not always the case. Don’t forget that the buyer’s bank will send an appraiser to determine the fair value for your house. The bank will not lend more than what the house is worth, so be aware that you might need to renegotiate the price after the appraisal. We will help you set the true value of your Frisco home for sale or your Prosper home sale.

 

2. Keep Your Emotions in Check

homeowners are living in their houses for a longer period of time. Since 1985, the average tenure, or the time a homeowner has owned their home, has increased from 5 to 10 years This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your children grew up, very likely it is very special to you. Every room has memories

For some homeowners, that makes it even harder to negotiate and separate the emotional value of the house from the fair market price. That’s why you need Brian and Melinda Stitzinger with Joyce Sutherland to help you with the negotiations along the way. We are experts in your Aubrey home for sale and Little Elm home for sale

 

3. Stage Your Home Properly

We’re generally quite proud of our décor and how we’ve customized our houses to make them our own unique homes. But, not all buyers will feel the same way about your design. That’s why it’s important to make sure you stage your house with a buyer in mind.

 

Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. Stage and declutter so they can visualize their own dreams as they walk down the hall. We have home stagers who can help you with tips to get your home ready to stage and sell in Frisco homes for sale, McKinney homes for sale and Plano homes for sale. Let's Talk!

 

Bottom Line

Today’s market might be your best chance to make a move. If you’re considering selling your house, let’s connect so you have the help need to navigate through the process while prioritizing these must-do’s.

Dec. 30, 2020

The Experts Forecast the 2021 Housing Market

Experts forecast a year of continued strength in the housing market. Let's Talk and explore how 2021 could be the year to achieve your real estate goals and dreams with a home for sale in Frisco Texas or a home for sale in Prosper Texas.

Source Links

Source #1 2021 Housing Predictions Next Advisor

Source # 2 2021 Housing Predictions Forbes.com

Source #3 2021 Housing Predictions First American

 

 

Dec. 28, 2020

Price Your House Right and Here's Why

It’s Important to Price Your House Right and Here's Why

 

Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes:

 

“We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year.” So for Frisco Texas homes for sale, Prosper Texas homes for sale, and Aubrey Texas homes for sale it is very important that you have an honest discussion with an experienced real estate agent knowledgeable about sales in your area.

 

How to Price Your House

When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

 

As a seller in today’s market, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. But, a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers.

 

Even when there are so few houses for sale like now, your house is more likely to sit on the market longer or require a price drop that can send buyers running if it isn’t priced just right from the very beginning. When you price it competitively from the start, you won’t be negotiating with one buyer. Instead, you’ll likely have multiple very interested buyers competing for your home, potentially increasing the final sale price.

The key is to make sure your house is priced to sell immediately. This way, it will be seen by the greatest number of buyers. More than one of them may be interested, and it will be more likely to sell at a competitive price.

 

Bottom Line

Let's connect to price your house correctly from the start so you can maximize your exposure and your return. Whether you live in Frisco Texas, Prosper Texas, Little Elm Texas, Aubrey Texas, Celina Texas, Brian and Melinda Realtors, Real Estate Agents are experienced and knowledgeable. Let's Talk!

Dec. 22, 2020

Why 2020 was Great Year for Home Ownership

Over the last year, mortgage loan rates fell more than a full percentage point, hitting a new historic low 15 times. Low rates provided consumers with some significant benefits. Here’s a look at three of them.

 

1. Move-up or Downsize: One option was to move into a new home either smaller or larger, putting the equity you gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year. Frisco Texas homes for sale and Prosper Texas homes for sale were popular for move up buyers

 

2. Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Look at the cost of renting vs. buying. Aubrey Texas homes for sale were popular for first time home buyers.

3. Refinance: If you already own a home, you may have decided to refinance. It’s one way to lock in a lower monthly payment and save more over time. However, it may have meant paying upfront closing costs, too. If you want to take this route, you have to answer the question: Should I refinance my home?

 

Here's why 2020 Was a Great Year for Homeownership

Last year, the average mortgage rate was 3.93% (substantially higher than it is today). If you waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates are a huge perk for buyers, so it’s a great time to get more for your money and consider a new home.

 

The chart below shows how much you would save per month based on today’s rates compared to what you would have paid if you purchased a home exactly one year ago, depending on how much you finance:The Difference a Year Makes for Homeownership 

 

Bottom Line

If you’ve been waiting since last year to make your move into homeownership or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Let’s connect today to discuss how you may benefit from the current rates in the coming year of 2021.

Dec. 9, 2020

5 Reasons to Sell Your House This Holiday Season

 

This holiday season may be the perfect time to sell your house. Let's connect to discuss how today's buyer demand is presenting the greatest opportunities for sellers.

With inventory of homes low and buyers looking to take advantage of the low rates, what better time to sell than when there is little competition.

Home sales in Frisco texas, Little Elm Texas, Prosper Texas, Aubrey Texas, and other local Dallas Forth Worth cities have not lessened. In fact, home sale prices have continued to rise.

Contact us today and Let's Talk!

Dec. 3, 2020

DFW Area Home Sale Prices to keep rising in 2021

DFW Area Home Sale Prices to keep rising in 2021

 

According to Realtor.com, home prices in the Dallas-Fort Worth area are expected to keep increasing through the rise should be moderate.

The median home price is expected to rise by 4.4%. Home sales are expected to rise by 11.3% in 2021. Currently, home sales and home prices are at record levels due to the historically low mortgage rates. Rates are expected to remain low as the Federal Reserve has indicated that the fed rate will remain low. 2021 housing market should be more normal

with inventory rising, home prices leveling off and of course the promise of a vaccine which should ease buyer's minds. That's not to say that buyers should wait and hope for falling home prices, that likely will not happen

Demand will continue to keep prices stable and on the rise as people move to Texas and Gen Z and millennials impact the home buying market. Rates are expected too slightly increase in the later part of 2021.

Visit us and get to know us at Meet the Team

 

Nov. 30, 2020

Your Real Estate Referrals are Very Appreciated

Thank You for Your Support

Thank You for Your Support | MyKCM

We give thanks each and every day for the loyalty of our friends and business partners. We greatly appreciate your support!!!!  

Nov. 4, 2020

Best Student Loan Refinance Companies

Have you ever had that feeling of paying off your loans, but you notice the number on the debt owed just doesn't go down? You're not alone, this can be especially common if you took out student loans.  Student loan debt has been categorized as one of the most widespread financial burdens of our time, second only to mortgage loans. according to Money.com "The latest student loan statistics show that the average borrower owes at least $35,000 in student loan debt".

Unfortunately, these loan payments can affect your mortgage application and ability to buy a home since they must all be taken into consideration for your pre-approval. With student loan debt at nearly $1.6 trillion, it's easy to tell this is something that affects many families throughout the year. One small silver lining to the COVID pandemic is the incredibly opportune timing to consider refinancing.

Don't let a student loan affect your ability to buy in a home for sale in Frisco Texas, a home for sale in Prosper Texas, a home for sale in Little Elm Texas, or a home for sale in Aubrey Texas. 

Money Magazine's article on the "Best Student Loan Refinance Companies of 2020" explains what you'll need to apply, how to find the right lender, and other information helpful in determining if this is the right decision for you. 

Money.com researched the student loan refinance industry. In our research, we analyzed different lenders by judging them on these four categories:

·  Financial strength 

·  Eligibility requirements

·  Loan specifications

·  Customer experience

The average borrower could save thousands of dollars just by making the change. Weigh your options, read the fine print, and check out more information HERE if refinancing your private student loans is right for you.

Buying a home for sale in Frisco Texas, home for sale in Prosper Texas, home for sale in Little Elm Texas, home for sale in Aubrey Texas, or a home for sale in Dallas Texas will be much easier with your student loan debt under control. View the article HERE by Money.com

See us StitzingerTeam.com  Search Homes here Buying a Home  Homes for sale in Frisco Texas, homes for sale in Prosper Texas, homes for sale in Little Elm Texas, homes for sale in Aubrey Texas, homes for sale in Plano Texas, homes for sale in Dallas Texas 

Oct. 21, 2020

Real Estate Continues to Show Unprecedented Strength This Year

 

Real Estate Continues to Show Unprecedented Strength This Year | MyKCM

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?  Home values in Frisco Texas, Prosper Texas, McKinney Texas, Aubrey Texas and anywhere near Dallas Texas you are one of the lucky ones because home prices are stable and grow upwards of 5% per year. And that doesn't count North Texas New Construction Homes.

Here’s a look at what several industry-leading experts have to say.

Lawrence Yun, Chief Economist, National Association of Realtors

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery."

Frank Martell, President and CEOCoreLogic

"Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures…Although the exact contours of the economic recovery remain uncertain, we expect current equity gains, fueled by strong demand for available homes, will continue to support homeowners in the near term."

Zillow

Zillow's predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts because sales and prices have stayed strong through the summer months amid increasingly short inventory and high demand.

The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook.”

Bottom Line

Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented strength. The housing market in North Texas appears to be among the strongest and most stable areas in the United States with unprecedented numbers of people relocating to the area Homes for sale in Frisco Texas, Prosper Texas, McKinney Texas, Aubrey Texas and Dallas Texas is outpacing demand.