Thinking About Selling? This May Be The Time!

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:

Home Value Request – What’s my home worth?

Seller Tips

Are You Show Ready?

Looking for an experienced team of agents with a proven track-record to sell your home? Click here.

Feel free to contact us if you have questions or need more information.

Gina Branch Appears in D Magazine’s Dallas Dirt Blog

D Magazine Dallas Dirt Blog

Posted on Dallas Dirt by Candy Evans

Gina Branch, ABR of RE/MAX Dallas Suburbs, offers a response to our Eager Seller of the day who hasn’t seen any movement in her $150k home on the market for a week:

Dear Eager:

This is a great question currently on the minds of many homeowners across the nation.

The good news is the national foreclosure moratorium will have very little impact in Texas.  Texas is a non-judicial state and the foreclosures will most likely begin again here in the next few weeks as the lenders dot the i’s and cross the t’s on their paperwork.

The bigger issues impacting home sales in the Dallas area are three-fold.  First, the federal tax credit that expired earlier this year prompted many buyers to get off the fence and purchase before the deadline.  This frenzied buying has dissipated the current buyer pool.  Secondly, we’re still running across many buyers who can’t qualify for a mortgage due to low credit scores, high debt, or a combination of the two.  This is such a tragedy given the historically low interest rates and affordable housing prices in our area.  And third, unemployment is high, so many would-be buyers are unwilling to part with their money given the widespread job insecurity facing Texas and the nation.

While it’s a great time to purchase a home, it’s not the best time to sell.  What sellers need to keep in mind is that whatever loss they might take on the sale of their home, they will more than make up for on the purchase of a new one.  The savings in interest alone is substantial.  When you combine that with lots of inventory and stable prices, it’s a prime time to buy.  The Dallas Fort Worth metro area is having a fire sale!  If you’re planning to purchase another home after you sell, I would encourage you to take your minor bumps and bruises in sales price and then take full advantage of the current buyer’s market.

Originally Posted at: