Here's a great/informative file for you or to share to someone: TIPS! how-to-increasing-your-homes-value-1706287091.pdf
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1/19/2024 0 Comments Winter Weather ReadyFriends and neighbors of North Texas, we’re past the latest freeze but it doesn’t mean more isn’t coming. So there’s still good reason to secure your home and be weather-ready. Here are two helps: 1. Texas Department of Insurance talks about weather proofing and preparation: 2. And, Super local to yours truly is the city of Coppell. The city’s “Winter Weather” page is good and it's here: www.coppelltx.gov/673/Winter-Weather Let’s be smart and safe. Our community can thrive together! And the O'Reilly Home Team is always here for you! 1/8/2024 0 Comments Where We Stand, 2024Here's where the national market seems to stand, and an outlook for D-FW. Most experts anticipate this year being good/stable for buying and selling homes.
Anticipations: Mortgage rates might decrease. *We know this, because of the rise in 2023. The FED will want to keep people at rates that they can roll with. So, a decrease, but not dramatic -- that's the expectation. Meaning: You can buy now and refinance later if they really do drop. But, don't skip out on a good deal because the rates will eventually change, and it's important to get the home price you want/need now! Homes will go on the Market for Sale -- Again, a reaction to 2023 anticipates that folks will "loosen" the grip they've had (holding onto homes) and jobs and life changes will lead to more inventory. Still, we expect a slow change here, meaning: Do what you need to, when you need to. There probably won't be some flood of homes to choose from. With rate changes and more homes on the market, we anticipate More Buyers in 2024 -- People waited in 2023, but the need and desire is there. The market is bubbling with moves, and so we see folks taking the leap in this year. The challenge for buyers is also the reason that it is good to make a smart move if you can, and that reason is: Home prices are stable, and our area is strong. While the first three points are all national trends, what we can anticipate for all the D-FW job and economy growth is that our home values are stable and growing. There won't be huge price drops this year. And while that makes paying large amounts for homes difficult, the track record shows these investments are worth it over time. Since the pandemic, D-FW has been a leader in economy and job growth, and so the livability and desire for our area remains as strong as ever. Your home investments are good real estate investments! We have a hopeful year ahead! So, let's make a move! References: https://www.brightmls.com/article/2024-national-housing-market-outlook https://www.recenter.tamu.edu/articles/video/Texas-Housing-Market 12/15/2023 0 Comments Creative Lending Options to Buy Now!As we approach the end of the year, and people keep dreaming of a new home, or maybe even becoming first-time homeowners, we want to share resources with you for the dreaming! There are lenders trying all they can do to encourage people into home-ownership, and maybe what they offer works for you or someone you know!
- Grants while applying - First time home buying “cash back” scenarios - Lenders covering down payment options - Financial Supports and flexible options. So, check in with us and we can get you talking with a qualified Lender. This is a great first step. Maybe the wisdom will be to wait. But, maybe the doors will open to help a home-buyer find the right way into the market here and now. Let’s look together! 2 Notes to Notice:
1. Grapevine's "Paycom" (an Oklahoma City-based firm) will about double in size with coming expansion. Another 1,000 employees anticipated. See that here: Dallas News Paycom 2. In September Texas remained ranked in top 5 states for overall # of new businesses. More than 50,000 new businesses have opened in the Lone Star State in 2023. This means jobs, and people, and folks moving in/out of homes! TX growth report. 10/6/2023 0 Comments Market Note into OctoberMarket Note: in fall and winter, the DFW market is up from late summer numbers.
Interest rates have been high, but researches note home sales up 9.5% for consumers and construction permits up 5.3%. Time for homes on market has gone down as well. It's a good time to look/research/consider a move. Here's the Info from A&M's Texas Housing Insight: INSIGHT. 9/4/2023 0 Comments Mortgage Rates Right Now"Total mortgage application volume fell 2.9% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index."
See his helpful review of rates and changes by cnbc here: Mortgage Demand Drops 7/28/2023 0 Comments What to Watch ForHere's Dallas News reporting on an example in McKinney with "Craig Ranch" Homes. There are fees from the HOA when homes are sold, and the fees increasing with increasing home prices. Buyers and sellers are reporting feeling blind-sided.
(Reach out and we will research hidden fees in areas you are interested in!) 6/27/2023 0 Comments Welcome to the Team!
5/3/2023 0 Comments Our Market
4/12/2023 0 Comments Did you get one?Each year we've reminded folks of tips to appeal your higher property tax, and we've seen good results. With inflation of common goods, now is not a good time to see your far higher housing value cost you taxes. So, the appeal is fairly simple and lower taxes can help your wallet a lot.
Call me, I'll walk you through it! 214-289-6176 4/5/2023 0 Comments More encouragementWe live in a unique place that is beginning to see the "returns" on what our metroplex industry and liveability means for homeowners.
Dallas News says, "Middle-income Dallas-Fort Worth homeowners made an average $167,560 from their homes over the last 10 years, while the same group on the national level made $122,100, according to a new report from the National Association of Realtors." This is part of why we love working with people and their homes. We hope the fruit of these investments is both living in a place you really love as well as becoming a source of income and value for each of us. For now, it's true in D-FW. The property is worth it. 4/2/2023 0 Comments April News:Our market, like the nationwide reactions, has been in flux. Predictions remain steady, with the idea that buyers are seeing more and more homes on the market. Overall, it's still a good time to buy and sell.
Yes, interest rates have risen. But they are not forecasted to go down soon. Instead, higher rates usually mean home prices go lower, and thus a buyer can get in to something good and get passed renting. The Uplifting D-FW news remains: our area has seen such growth in homes and jobs that the market here will be stable and valuable for investments. Source: Yahoo Finance 3/15/2023 0 Comments Timing of Buying for NowWith rents increasing it makes sense to buy now even with current rates. You can always refinance when/if the rates go down. Some lenders have programs to refi without alot of costs in the first year of the loan. It's worth it to stop paying rising rents and buy now and start building equity in your home now. While it might be tempting to postpone buying until a better deal shows up, there's no guarantee that rates will fall or that homes will be more affordable next year. Many real estate experts don't think things will change much. Lawrence Yun, Chief Economist with the National Association of Realtors (NAR) predicts that a return to the 3% mortgage rates of 2021 won't happen again for a long time. These rates appeared during an unexpected global pandemic, at a time when a variety of factors created an unexpectedly hot real estate market. Regarding falling home prices, any current price corrections could disappear as soon as the inventory of homes for sale takes another dive. To make the situation even more frustrating, if mortgage rates fall, this could fuel more demand for fewer homes. Both of these would contribute to more expensive home purchases because of the supply versus demand scenarios created. In conclusion: potential buyers who plan to stay in their next home for more than five years may want to consider being less concerned about timing the market. Instead, they can concentrate on the other benefits of home ownership: *the equity they'll begin to build, *potential tax savings, *and taking ownership of their living spaces, making them what they hope and imagine! 2/21/2023 0 Comments Seniors Real Estate Specialist!2/16/2023 0 Comments Current Market - updateSome good/helpful market news came from last month's Real Estate & Economic Outlook session at Southern Methodist University. Here are some quick hits (story here):
12/14/2022 0 Comments December News & NotesFirst: a Lending Technique you should know of, if you're looking (or helping someone looking) to borrow money these days:
Do you know the 2/1 rate buydown? It's an option for buyers as mortgage rates rise; and an option for sellers to reach buyers who need flexibility. (It can become part of closing costs). There is an upfront cost, but then it means that the mortgage rate is "down" lower. Sometimes it is a temporary amount of time. After years 1, or 2, or 3 -- when rates have lowered and stabilized -- then the homeowner could refinance. Overall then, they would avoid the highest jabs of the interest rates. Reports show that many buyers are going this way in this market, looking toward rates being lower in two years time. So, connect with me and I'll explain and I'll connect you to my trusted lenders to see what's possible for you! pat@oreillyhometeam.net December News and Notes: Space in our Metroplex. End of Year Market Trends. And this: Fun in our Area: |
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