NE TEXAS Real Estate News

Why an Agent Is Essential When Pricing Your House [INFOGRAPHIC]

Why an Agent Is Essential When Pricing Your House [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • When it comes to pricing your house, there’s a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional.
  • To find the best price, your agent balances current market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition.
  • Don’t pick just any price for your house. If you’re ready to sell, reach out to a trusted real estate professional to find the perfect price for your house.
Posted by NE TEXAS REALTY GROUP on November 9th, 2022 1:34 PM

The True Strength of Homeowners Today

The True Strength of Homeowners Today

The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.

Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:

“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983.”

She continued on to say:

“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”

What Is LTV?

The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:

“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price.

You can also think about LTV in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value. So your LTV ratio is 80%.”

Why Is This Important?

This is yet another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008, when many owed more on their homes than they were worth.

Bottom Line

Homeowners today have more financial strength than they have had since 1983. This is a combination of how homeowners have handled equity since the crash and rising home prices of the last two years. And this is yet another reason homeownership in any market makes sense.

Posted by NE TEXAS REALTY GROUP on October 28th, 2022 2:24 PM

What’s Actually Happening with Home Prices Today?

What’s Actually Happening with Home Prices Today?

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.

  • Appreciation is when home prices increase.
  • Depreciation is when home prices decrease.
  • Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

Experts agree that, nationally, what we’re seeing today is deceleration. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, data from CoreLogic tells us home prices appreciated by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, experts forecast home prices will appreciate at a decelerated pace of around 10 to 11%, on average.

The graph below uses the latest data from CoreLogic to help tell the story of how home prices are decelerating, but not depreciating so far this year.

What’s Actually Happening with Home Prices Today? | Keeping Current Matters

As the green bars show, home prices appreciated between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has decelerated to 18%. This means price growth is still climbing compared to last year but at a slower rate.

As the Monthly Mortgage Monitor from Black Knight explains:

“Annual home price growth dropped by nearly two percentage points . . . – the greatest single-month slowdown on record since at least the early 1970s. . . While June’s slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages.”

Basically, this means, while moderating, home prices are still far above the norm, and we’d have to see a lot more deceleration to even fall in line with more typical rates of home price growth. That’s still not home price depreciation.

The big takeaway is home prices haven’t fallen or depreciated nationwide, they’re just decelerating or moderating. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts project home prices will net depreciate or fall. They’re all projecting ongoing appreciation.

Bottom Line

If you have questions about what’s happening with home prices today, connect with a trusted real estate professional.

Posted by NE TEXAS REALTY GROUP on September 26th, 2022 10:02 AM

Things To Avoid After Applying for a Home Loan

Things To Avoid After Applying for a Home Loan

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan.

Don’t Deposit Large Sums of Cash

Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

Don’t Make Any Large Purchases

It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgages. Resist the temptation to make any large purchases, even for furniture or appliances.

Don’t Co-Sign Loans for Anyone

When you co-sign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.

Don’t Switch Bank Accounts

Lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.

Don’t Apply for New Credit

It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Lower credit scores can determine your mortgage interest rate and possibly even your eligibility for approval.

Don’t Close Any Accounts

Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those aspects of your score.

In Short, Consult an Expert

To sum it up, be upfront about any changes when talking with your lender. Blips in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. Ultimately, it’s best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

Bottom Line

You want your home purchase to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.

Posted by NE TEXAS REALTY GROUP on September 15th, 2022 2:49 PM

A Key Opportunity for Homebuyers

A Key Opportunity for Homebuyers

There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles homebuyers faced during the pandemic were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point.

As you may have already heard, the number of homes for sale has increased this year, and even more so this spring. As Danielle Hale, Chief Economist for realtor.comexplains:

New listings–a measure of sellers putting homes up for sale–were up 6% above one year ago. Home sellers in many markets across the country continue to benefit from rising home prices and fast-selling homes. That’s prompted a growing number of homeowners to sell homes this year compared to last, giving home shoppers much needed options.”

This is encouraging news. More homes coming onto the market give you a greater chance of finding one that checks all your boxes.

Buyer Competition Moderating Helps Inventory Grow Even More

Mark Fleming, Chief Economist at First Americansays inventory growth is happening not just because there’s an increase in the number of listings coming onto the market, but also because buyer demand has moderated some in light of higher mortgage rates and other economic factors:

There has been a pickup in the inventory that we’ve seen recently, but it’s not from a big increase in new listings . . . but rather a slowdown in the pace of sales. And remember that months’ supply measures the inventory of sale relative to the pace of sales. Same inventory, fewer sales, means more months’ supply.”

Basically, the market is shifting away from the frenzy of buyer competition seen during the pandemic, and that’s helping available inventory grow. In their latest forecastrealtor.com also mentions the moderation of demand as a key factor and projects the inventory growth should continue:

As rising inflation and mortgage rates bring U.S. housing demand back from the 2021 frenzy, . . . inventory will grow double-digits over 2021 and offer buyers a better-than-expected chance to find a home.”

How This Impacts You

The combination of more homes coming onto the market and a slower pace of home sales means you’ll have more options to choose from as you search for your next home. That’s great news if you’ve been searching for a while with little to no luck. Just remember, there isn’t a sudden surplus of inventory, just more homes to choose from than even a few months ago. So, you’ll still want to be decisive and move fast when you find the right home for you.

And when you do, you may be faced with less competition from other buyers too. If you’ve been waiting to jump into the market because the intensity of the bidding wars was intimidating or if you’ve been outbid on several homes, this moderation could help make the homebuying process a bit smoother. It’s not that it’ll be easy or that bidding wars are a thing of the past – that’s not the case. But it won’t feel nearly as impossible.

Bottom Line

As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Reach out to a trusted real estate professional to begin the process today.

Posted by NE TEXAS REALTY GROUP on August 30th, 2022 9:26 AM

2580 FM 2057
PITTSBURG, TX 75686

$180,000

Beds: 3
Baths: 2
Sq. Ft.: 1,232
Type: House
   
Property Photo
1 of 13
Listing #18762537

Move in ready! Come take a look at this adorable cottage with a beautiful countryside setting. This 3 bedroom 2 bath home has an open living area concept. Nice size kitchen with breakfast bar and appliances. Neutral colors throughout and plenty of storage. The exterior offers a detached two car carport, storage building, wood deck at the front and back doors and large back yard. This home has been well cared for and has had many updates over the years including insulated windows and doors and aerobic septic system. Located near the Centerpoint Community and only a short drive to town. Listing agent of record: Sherry Dickson, Harold Carter Realtors. 

Property Features
Interior Features
Full Baths: 2
1/2 Baths: 0
Exterior Features
Lot Size in Acres: 0.37
Lot Size in Sq. Ft.: 0.0
Additional Information
Property Type: SFR
Year Built: 1978
Status: Active
Posted by NE TEXAS REALTY GROUP on August 23rd, 2022 2:37 PM

A Real Estate Professional Helps You Separate Fact from Fiction

A Real Estate Professional Helps You Separate Fact from Fiction

If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction. That’s where a trusted real estate professional comes in. They can help debunk the headlines so you can really understand today’s market and what it means for you.

Here are three common housing market myths you might be hearing, along with the expert analysis that provides better context.

Myth 1: Home Prices Are Going To Fall

One piece of fiction many buyers may have seen or heard is that home prices are going to crash. That’s because headlines often use similar, but different, terms to describe what’s happening with prices. A few you might be seeing right now include:

  • Appreciation, or an increase in home prices.
  • Depreciation, or a decrease in home prices.
  • And deceleration, which is an increase in home prices, but at a slower pace.

The fact is, experts aren’t calling for a decrease in prices. Instead, they forecast appreciation will continue, just at a decelerated pace. That means home prices will continue rising and won’t fall. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“. . . higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”

Myth 2: The Housing Market Is in a Correction

Another common myth is that the housing market is in a correction. Again, that’s not the case. Here’s why. According to Forbes:

“A correction is a sustained decline in the value of a market index or the price of an individual asset. A correction is generally agreed to be a 10% to 20% drop in value from a recent peak.

As mentioned above, home prices are still appreciating, and experts project that will continue, just at a slower pace. That means the housing market isn’t in a correction because prices aren’t falling. It’s just moderating compared to the last two years, which were record-breaking in nearly every way.

Myth 3: The Housing Market Is Going To Crash

Some headlines are generating worry that the housing market is a bubble ready to burst. But experts say today is nothing like 2008. One of the reasons why is because lending standards are very different today. Logan Mohtashami, Lead Analyst for HousingWire, explains:

“As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022.”

During the last housing bubble, it was much easier to get a mortgage than it is today. Since then, lending standards have tightened significantly, and purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash.

Bottom Line

No matter what you’re hearing about the housing market, trust the experts and partner with a local real estate professional. When you do, you’ll have a knowledgeable authority on your side that knows the ins and outs of the market, including current trends, historical context, and so much more.

Posted by NE TEXAS REALTY GROUP on August 23rd, 2022 9:40 AM

Why a Home Inspection Is Important [INFOGRAPHIC]

Why a Home Inspection Is Important [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • If you’re buying a home, here’s what you should know about your home inspection and why it’s so important.
  • home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road.
  • Work with an agent so you have an expert on your side who can guide you through the process.
Posted by NE TEXAS REALTY GROUP on August 22nd, 2022 9:59 AM

If You’re Selling Your House This Summer, Hiring a Pro Is Critical

If You’re Selling Your House This Summer, Hiring a Pro Is Critical

It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more essential than ever to work with a real estate professional.

Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.

Here are five key reasons why working with a real estate professional makes sense today.

1. A Professional Follows the Latest Market Trends

With higher mortgage rates, rising home prices, and a growing number of homes for sale, today’s housing market is showing signs of a shift back toward more pre-pandemic levels. When conditions change, following the trends and staying on top of new information is crucial when you sell.

That makes working with an expert real estate advisor critical today. They know your local area and follow national trends too. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your best decision.

2. A Professional Helps Maximize Your Pool of Buyers

Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it’s risky to sell on your own without the network an agent provides:

“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth.”

3. A Professional Understands the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:

“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”

A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.

4. A Professional Is a Trained Negotiator

If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:

  • The buyer, who wants the best deal possible
  • The buyer’s agent, who will use their expertise to advocate for the buyer
  • The inspection company, which works for the buyer and will almost always find concerns with the house
  • The appraiser, who assesses the property’s value to protect the lender

Instead of going toe-to-toe with all these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

5. A Professional Knows How To Set the Right Price for Your House

If you sell your house on your own, you may over or undershoot your asking price. That could mean you’ll leave money on the table because you priced it too low or your house will sit on the market because you priced it too high. Pricing a house requires expertise. NAR explains it like this:

“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”

Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final sale price.

Bottom Line

Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell, reach out to a local real estate professional so you have an expert on your side.

Posted by NE TEXAS REALTY GROUP on August 19th, 2022 9:12 AM

3474 COUNTY ROAD 1412
BOGATA, TX 75417

$399,500

Beds: 5
Baths: 2
Sq. Ft.: 2,480
Type: House
   
Property Photo
1 of 17
Listing #18735707
 
Looking for a place to get away from all the hustle and bustle of city life? Come take a look at this secluded 5 bedroom 2 bath home that is centrally located between Paris and Mount Pleasant and just outside of the communities of Bogata and Clarksville. Enjoy walking or riding your ATV just over 1 mile to the Sulphur River Bridge and access point. Relax on the front or back porches and watch the deer and wildlife play in the nicely shaded fenced yard. This home has so much to offer including a large open living area with fireplace, nicely equipped kitchen with granite counters,custom wood cabinets and furnished appliances. Split bedroom floorplan with 2 bedrooms downstairs and 3 bedrooms upstairs. Huge game room upstairs and a loft living area would be great for the kids or office. Several patio doors for access to the screened in balcony porch. Neutral colors and rustic appeal make this home very cozy. Large metal shop with carport, circle drive and much more. Come see to appreciate. Listing agent of record: Sherry Dickson, Harold Carter Realtors
Property Features
Interior Features
Full Baths: 2
1/2 Baths: 0
Exterior Features
Lot Size in Acres: 2.17
Lot Size in Sq. Ft.: 0.0
Additional Information
Property Type: SFR
Year Built: 1977
Status: Active
Posted by NE TEXAS REALTY GROUP on August 18th, 2022 1:51 PM

Should I Buy a Home Right Now?

Should I Buy a Home Right Now?

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.

The Future of Home Price Appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Should I Buy a Home Right Now? | Keeping Current Matters

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: 

“People should not anticipate another double-digit price appreciation. Those days are over. . . . We may return to more normal price appreciation of 4%, 5% a year.”

For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead.

What Does That Mean for You?

To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Should I Buy a Home Right Now? | Keeping Current Matters

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.

Bottom Line

If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation. Partner with a local real estate professional to begin your homebuying process today.

Posted by NE TEXAS REALTY GROUP on August 18th, 2022 1:46 PM

Should I Rent or Should I Buy? [INFOGRAPHIC]

Should I Rent or Should I Buy? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home.
  • When you buy, you can stabilize your housing costs, own a tangible asset, and grow your net worth as you gain equity. When you rent, you face rising housing costs, won’t see a return on your investment, and limit your ability to save.
  • If you want to learn more about the benefits of homeownership, reach out to a real estate professional today.
Posted by NE TEXAS REALTY GROUP on August 17th, 2022 11:47 AM

Think Home Prices Are Going To Fall? Think Again

Think Home Prices Are Going To Fall? Think Again

Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the housing market isn’t a bubble about to burst, and home price growth is supported by strong market fundamentals.

To understand why price declines are unlikely, it’s important to explore what caused home prices to rise so much recently, and where experts say home prices are headed. Here’s what you need to know.

Home Prices Rose Significantly in Recent Years

The graph below uses the latest data from CoreLogic to illustrate the rise in home prices over the past year and a half. The gray bars represent the dramatic increase in the rate of home price appreciation in 2021. The blue bars show home prices are still rising in 2022, but not as quickly:

Think Home Prices Are Going To Fall? Think Again | Keeping Current Matters

You might be asking: why did home prices climb so much last year? It’s because there were more buyers than there were homes for sale. That imbalance put upward pressure on home prices because demand was extremely high, and supply was record low.

Where Experts Say Prices Will Go from Here

While housing inventory is increasing and buyer demand is softening today, there’s still a shortage of homes available for sale. That’s why the market is seeing ongoing price appreciation. Mark Fleming, Chief Economist at First Americanexplains it like this:

“. . .we’re still well below normal levels of inventory and that’s why even with the pullback in demand, we still see house prices appreciating. While there is more inventory, it’s still not enough.”

As a result, experts are projecting a more moderate rate of home price appreciation this year, which means home prices will continue rising, but at a slower pace. That doesn’t mean prices are going to fall. As Selma Hepp, Deputy Chief Economist at CoreLogicsays:

“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”

In other words, even with higher mortgage rates, moderating buyer demand, and more homes for sale, experts say home price appreciation will slow, but prices won’t decline.

If you’re planning to buy a home, that means you shouldn’t wait for home prices to drop to make your purchase. Instead, buying today means you can get ahead of future price increases, and benefit from the rise in prices in the form of home equity.

Bottom Line

Home prices skyrocketed in recent years because there was more demand than supply. As the market shifts, experts aren’t forecasting a drop in prices, just a slowdown in the rate of price growth. To understand what’s happening with home prices in your area, connect with a local real estate professional today.

Posted by NE TEXAS REALTY GROUP on July 27th, 2022 11:09 AM

How an Energy Efficient Home Can Be a Bright Idea [INFOGRAPHIC]

How an Energy Efficient Home Can Be a Bright Idea [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control.
  • Energy efficiency can help lower your utility bills and possibly even save you money on your taxesOptions to look for include efficient appliances, windows, and solar panels.
  • If it’s your goal to buy a home this year, consider energy efficiency. Work with a trusted real estate advisor to learn more about features that can save you money for years to come.
Posted by NE TEXAS REALTY GROUP on July 26th, 2022 1:58 PM

What You Can Expect from the Spring Housing Market

What You Can Expect from the Spring Housing Market

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.

Here’s a look at what experts say you can expect this spring.

1. Mortgage Rates Will Climb

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says:

“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

2. Housing Inventory Will Increase

There may be some relief coming for buyers searching for a home to purchase. Realtor.com recently reported that the number of newly listed homes has grown for each of the last two months. Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

If you’re a buyer who has been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right home.

If you’re a seller, listing now instead of waiting for this additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

3. Home Prices Will Rise

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong. As realtor.com explains in their most recent Housing Report:

“During the final two weeks of the month, more new sellers entered the market than during the same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Maesays:

“What I will caution against is making the inference that interest rates have a direct impact on house prices. That is not true.”

Freddie Mac studied the impact that mortgage rates increasing by at least 1% has had on home prices in the past. Here are the results of that study:

What You Can Expect from the Spring Housing Market | Keeping Current Matters

As the chart shows, mortgage rates jumped by at least 1% six times in the last thirty years. In each case, home values increased.

So again, if you’re a first-time buyer or a repeat buyer, waiting to buy likely means you’ll pay more for a home later in the year (as compared to its current value).

Bottom Line

There are three things that seem certain going into the spring housing market:

  1. Mortgage rates will continue to rise
  2. The selection of homes available for sale will modestly improve
  3. Home prices will continue to appreciate, just at a slightly slower pace

If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.

Posted by NE TEXAS REALTY GROUP on June 30th, 2022 1:16 PM

A Majority of Consumers Say It’s a Good Time To Sell Your House

A Majority of Consumers Say It’s a Good Time To Sell Your House

If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.

According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is a good time to sell.

The graph below shows the percentage of survey respondents who say it’s a good time to sell a house. The big dip in March and April of 2020 reflects how consumer sentiment dropped at the beginning of the pandemic as uncertainty about the health crisis grew. Since then, the percentage has grown consistently as more people feel confident it’s a good time to sell.

In fact, survey respondents think it’s an even better time to sell a house today than they did in 2019, which was a strong year for the housing market. The latest survey results indicate one of the strongest peaks in seller sentiment in nearly three years (see graph below):

A Majority of Consumers Say It’s a Good Time To Sell Your House | Keeping Current Matters

What Makes Today a Good Time To Sell?

One reason so many people think it’s a good time to sell is because there are still more buyers in today’s market than there are homes for sale. That’s driving home prices up, making it a good time to sell your house.

And if you’re on the fence about whether or not to sell because you don’t know where you’ll go once you do, know that you might have more options today than in previous months. That’s because the number of homes coming onto the market has grown each month since the start of the year. When more homes come onto the market, it gives you more opportunities to find one that meets your changing needs.

Bottom Line

While the number of homes available for sale is growing and giving you more options for your move, inventory is still low overall. That could mean it’s a great time for you to sell. If you’re ready to address your changing needs and take advantage of today’s favorable conditions, contact a local real estate advisor.

Posted by NE TEXAS REALTY GROUP on June 30th, 2022 1:16 PM

The Average Homeowner Gained More Than $55K in Equity over the Past Year

The Average Homeowner Gained More Than $55K in Equity over the Past Year

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.

Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest,  so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at CoreLogicexplains:

“Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth.”

The latest Homeowner Equity Insights from CoreLogic shed light on just how much rising home values have boosted homeowner equity. According to that report, the average homeowner’s equity has grown by $55,300 over the last 12 months.

Want to know what’s happening in your area? Here’s a breakdown of the average year-over-year equity growth for each state based on that data.

The Average Homeowner Gained More Than $55K in Equity over the Past Year | Keeping Current Matters

How Rising Equity Impacts You

In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home. It works like this: when you sell your house, the equity you built up comes back to you in the sale.

In a market where you’re gaining so much equity, it may be just what you need to cover a large portion – if not all – of the down payment on your next home. So, if you’ve been holding off on selling and worried about being priced out of your next home because of today’s home price appreciation, rest assured your equity can help fuel your move.

Bottom Line

Equity can be a real game-changer if you’re planning to make a move. To find out just how much equity you have in your home and how you can use it to fuel your next purchase, connect with a trusted real estate advisor.

Posted by NE TEXAS REALTY GROUP on June 15th, 2022 9:36 AM

How Buying or Selling a Home Benefits the Economy and Your Community

How Buying or Selling a Home Benefits the Economy and Your Community

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too?

To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

How Buying or Selling a Home Benefits the Economy and Your Community | Keeping Current MattersAs the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map below):

How Buying or Selling a Home Benefits the Economy and Your Community | Keeping Current MattersYou may be wondering: how can a single home sale have such a major effect on the economy?

For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

That means when you buy or sell a home, you’re leaving a lasting impression on the community at large. Let the knowledge that you’re contributing to those around you while also meeting your own needs help you feel even more empowered when you decide to make your move this year.

Bottom Line

Homebuyers and sellers are economic drivers in their community and beyond. Reach out to your trusted real estate advisor today if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community.

Posted by NE TEXAS REALTY GROUP on May 25th, 2022 9:36 AM

ARE WE IN A HOUSING BUBBLE?

The “warning signs” look all too familiar.

Escalating home prices have both buyers & sellers worried that the market is just “too good to be true,” and agents across the U.S. are getting bombarded with the ultimate question: “Are we in a housing bubble?”

Let’s take a look at 3 key factors that suggest we’re not, so you can educate your clients and calm fears in your market.

PART 1: HOUSING SUPPLY

Last year, home values appreciated an average of 15% across the nation. And while this year’s growth isn’t expected to match it, buyers and sellers are still worried that home prices are too high and that depreciation is likely to follow.

However, unlike the Housing Bubble years of the mid-2000s, the major factor driving up home values is that we’re also in a dire inventory shortage.

A balanced real estate market’s inventory sits around 6 months. Today’s current market is at 1.7 months, a historically low amount of homes for sale.

In comparison, the inventory level from 2005 and 2007 increased from 5 months to 11 months, a vast over-supply of homes that did not warrant the price appreciation that went along with it.

So, throwing it back to your high school economics class, the biggest driver of price appreciation is a simple case of supply and demand, hence what we’re seeing in the market today.

PART 2: HOUSING DEMAND

If you remember the housing boom of the mid-2000s, you know how crazy that time was in real estate. But if Robert Schiller, a fellow at the Yale School of Management’s International Center for Finance, could sum it up in one phrase, it’s this: irrational exuberance.

In other words, the buying and selling frenzy that contributed to the market collapse was fueled not by tactful, financial decisions but a country-wide case of FOMO (fear of missing out).

The mortgage industry fed into the frenzy, making it easy for people to obtain home loans much higher than they could afford.

Today’s real estate demand, however, is a very real thing. And lending standards have become much tighter since before the crash.

Plus, with escalating rent happening across the U.S., many Americans are opting for the financial stability that homeownership offers.

These factors, coupled with low mortgage rates, make purchasing a home today a good financial decision. So, not only is the demand very real, it’s also very smart.

PART 3: EQUITY

Following the housing and economic crash of 2008, economists, financiers, and real estate industry experts have combed through data to figure out why the entire system crumbled the way it did.

Most will agree that one of the biggest pieces of that catastrophic equation came down to this: equity. Or in reality, a lack of it.

The mid-2000s saw a massive wave of homeowners cashing out the equity in their homes. In short, they were using their homes like ATMs to afford some of the finer things in life.

This led to a lot of negative equity situations: where the amount someone owed on their home was far more than what their house was worth. Many foreclosures and short-sales followed, depreciating home values nationwide.

Today is a much different equity picture. Cash-out refinance volume over the last three years is less than a third of what it was compared to the three years before the crash. Plus, escalating appreciation meant that homeowners gained an average of $55,300 in equity in the last 12 months alone. As prices continue to rise, equity will too.

This positive equity perspective puts the current housing market in a much stronger place, minimizing risk of foreclosure and stabilizing home values across the U.S.

BOTTOM LINE

The most important role of a real estate agent is to be the educator to their clients.

What that really means is analyzing data and insights, getting all sides of a story and then being able to communicate that so your clients can make the best real estate decision.

At the end of the day, knowledge is the most powerful tool you have in your business. Use it every chance you get!

And while you’re at it, download our free eGuide, How to Succeed in a Changing Real Estate Market, where we break down the best way to guide your clients through today’s challenges. That way you and your clients can navigate any shifting housing market.

Posted by NE TEXAS REALTY GROUP on May 24th, 2022 9:35 AM

Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC]

Do You Know How Much Equity You Have in Your Home? [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity.
  • Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55,300.
  • Ready to sell? Reach out to a local real estate professional to talk about how you can use that equity to fuel your next move.
Posted by NE TEXAS REALTY GROUP on May 11th, 2022 2:10 PM

532 NASH STREET
VAN ALSTYNE, TX 75495

$148,000

Beds: 2
Baths: 1
Sq. Ft.: 1,219
Type: House
   
Property Photo
1 of 20
Listing #20053842
HUD Owned Home FHA Case#511-030565 Sold AS-IS. Come take a look at this 2 bedroom home in the heart of Van Alstyne, TX. This home offers a circle drive and privacy at the end of a dead end street. 2 car detached garage with 484 SF plus an additional 900 SF workshop with attached carport and utilities. Plenty of rear parking space plus an additional concrete slab. The interior offers 2 living areas, wood paneling and large kitchen and dining combo with tons of storage and cabinet space. This would be a great investment or fix and flip. Come take a look today!
Property Features
Location Information
County: Grayson
Latitude: 33.426161
Longitude: -96.575393
Subdivision: Greers 3rd Add
Directions: GPS
Interior Features
Interior: Decorative Lighting, Natural Woodwork, Paneling
Full Baths: 1
Has Fireplace: No
Number of Fireplaces: 0
Heating: Central, Electric
Cooling: Central Air, Electric
Floors: Carpet, Vinyl
Laundry: Utility Room, Full Size W/D Area, Washer Hookup
Appliances: Electric Range, Electric Water Heater
Has Basement: No
Exterior Features
Style: Traditional
Construction: Siding
Exterior: Covered Patio/Porch, Storage
Foundation: Pillar/Post/Pier
Roof: Composition
Water / Sewer: All Weather Road, City Sewer, City Water, Co-op Electric
Utilities: All Weather Road, City Sewer, City Water, Co-op Electric
Parking Description: 2-Car Double Doors, 2-Car Single Doors, Carport, Circular Driveway, Garage Faces Rear
Has Garage: Yes
Garage Spaces: 4
Has a Pool: No
Lot Size in Acres: 0.42
Lot Size in Sq. Ft.: 18,295
Is One Story: No
School
School District: Van Alstyne ISD
Elementary School: Van Alstyne
Jr. High School: Van Alstyne
High School: Van Alstyne
Additional Information
Year Built Details: Preowned
Property Type: SFR
Property SubType 2: Single Detached
Property SubType: Single Family Residence
Year Built: 1900
Status: Active
Home Owners Association: None
Unexempt Taxes: 3344
Lease Terms: Lease Type: , Lease Conditions:
Posted by NE TEXAS REALTY GROUP on May 11th, 2022 2:10 PM

Where Are Mortgage Rates Headed?

Where Are Mortgage Rates Headed?

There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:

“You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.”

Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. It’s only April, and rates have already blown past those numbers. Freddie Mac announced last week that the 30-year fixed-rate mortgage is already at 4.72%.

Danielle Hale, Chief Economist at realtor.comtweeted on March 31:

“Continuing on the recent trajectory, would have mortgage rates hitting 5% within a matter of weeks. . . .”

Just five days later, on April 5, the Mortgage News Daily quoted a rate of 5.02%.

No one knows how swiftly mortgage rates will rise moving forward. However, at least to this point, they haven’t significantly impacted purchaser demand. Ali Wolf, Chief Economist at Zondaexplains:

Mortgage rates jumped much quicker and much higher than even the most aggressive forecasts called for at the end of last year, and yet housing demand appears to be holding steady.”

Through February, home prices, the number of showings, and the number of homes receiving multiple offers all saw a substantial increase. However, much of the spike in mortgage rates occurred in March. We will not know the true impact of the increase in mortgage rates until the March housing numbers become available in early May.

Rick Sharga, EVP of Market Intelligence at ATTOM Datarecently put rising rates into context:

“Historically low mortgage rates and higher wages helped offset rising home prices over the past few years, but as home prices continue to soar and interest rates approach five percent on a 30-year fixed rate loan, more consumers are going to struggle to find a property they can comfortably afford.”

While no one knows exactly where rates are headed, experts do think they’ll continue to rise in the months ahead. In the meantime, if you’re looking to buy a home, know that rising rates do have an impact. As rates rise, it’ll cost you more when you purchase a house. If you’re ready to buy, it may make sense to do so sooner rather than later.

Bottom Line

Mark Fleming got it right. Forecasting mortgage rates is an impossible task. However, it’s probably safe to assume the days of attaining a 3% mortgage rate are over. The question is whether that will soon be true for 4% rates as well.


Posted by NE TEXAS REALTY GROUP on May 4th, 2022 11:12 AM

What You Need To Know About Selling in a Sellers’ Market

What You Need To Know About Selling in a Sellers’ Market

Even if you haven’t been following real estate news, you’ve likely heard about the current sellers’ market. That’s because there’s a lot of talk about how strong market conditions are for people who want to sell their houses. But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean?

What Is a Sellers’ Market?

The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still very low. There’s a 2-month supply of homes at the current sales pace.

Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory (see graph below):

What You Need To Know About Selling in a Sellers' Market | Keeping Current Matters

What Does This Mean for You When You Sell?

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.

And because mortgage rates and home prices are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

The current real estate market has incredible opportunities for homeowners looking to make a move. Listing your house this season means you’ll be in front of serious buyers who are ready to buy. Connect with a local real estate professional so you can jumpstart the selling process.

Posted by NE TEXAS REALTY GROUP on April 29th, 2022 1:20 PM

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it.

Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers. SmartAsset estimates the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by state:

Using Your Tax Refund To Achieve Your Homeownership Goals This Year | Keeping Current Matters

If you’re getting a refund this year, here are a few tips to help with your home purchase or sale this season.

How Buyers Can Use Their Tax Refund

According to American Financing, there are multiple ways your refund check can help you as a homebuyer. A few include:

  • Growing your down payment fund – If you haven’t started saving for your down payment, let your tax refund kick off the process. And if you have a fund already, the money you get back could put you closer to your goal.
  • Paying for your home inspection – Your home inspection can save you a lot of headaches down the road by helping you determine the condition of the house. As a buyer, you’ll typically be responsible for paying for your inspection, and it’s definitely worth the investment.
  • Saving for closing costs – Closing costs are additional expenses you’ll need to pay once it’s time to close. They average anywhere between 2-5% of the purchase price of your home.

This list is a great start, but it isn’t exhaustive of all the costs you may encounter as you set out on your homebuying journey. The best way to prepare is to work with a trusted real estate professional to make sure you understand what’s to come in the process.

How Sellers Can Use Their Tax Refund

If you own a home and are planning to sell this spring, your tax refund can help you make sure your home is ready to list. Here are a few ways current homeowners can put their tax refund to good use:

  • Making small upgrades – NerdWallet provides a list of great ways to use your tax refund, including tackling small projects or boosting your curb appeal to help your home stand out.
  • Making repairs – If there’s anything in your house that needs to be fixed, American Financing notes that completing repairs is another great use of that money.
  • Buying your next home – Whether you’re selling to move up or downsize, you can use your tax refund to help pay for any costs on the purchase of your next home.

Of course, it’s important to talk with your trusted real estate advisor before taking on any projects. They’ll make sure you can focus on areas that’ll help you receive the best possible price when you sell.

Bottom Line

Funding your home purchase or sale can feel like a daunting task, but it doesn’t have to be. Your tax refund can help you reach your goals. Connect with a local real estate advisor today to discuss how you can start on your journey.

Posted by NE TEXAS REALTY GROUP on April 28th, 2022 11:21 AM

170 N JEFFUS STREET
DEPORT, TX 75435

$49,900

Beds: 3
Baths: 2
Sq. Ft.: 1,333
Type: House
   
Property Photo
1 of 20
Listing #20036024
Small town location in Deport, TX. This 3 bedroom 2 bath home offers 1333 SF living area with wood burning fireplace in the living room, central heat and air and kitchen appliances. The exterior offers a .73 acre double lot with good street frontage, storage building, attached carport, concrete storm shelter and large metal shed in the back. This property could be your next investment home or a great fix and flip. Come take a look!
Property Features
Location Information
County: Lamar
Latitude: 33.532652
Longitude: -95.320013
Subdivision: City Of Deport
Directions: GPS
Interior Features
Interior: Decorative Lighting, Paneling
Full Baths: 2
Has Fireplace: Yes
Number of Fireplaces: 1
Heating: Central, Fireplace(s), Gas Jets, Natural Gas
Cooling: Ceiling Fan(s), Central Air
Floors: Laminate, Vinyl
Laundry: Utility Room, Full Size W/D Area, Washer Hookup
Appliances: Electric Cooktop, Refrigerator
Has Basement: No
Exterior Features
Construction: Brick, Siding, Stone Veneer
Exterior: Covered Patio/Porch, Stable/Barn, Storage
Foundation: Block
Roof: Metal
Water / Sewer: Asphalt, City Sewer, City Water, Co-op Electric
Utilities: Asphalt, City Sewer, City Water, Co-op Electric
Parking Description: Attached Carport
Has Garage: No
Garage Spaces: 1
Patio / Deck Description: Covered
Has a Pool: No
Other Structures: Shed(s), Storage
Lot Description: Lrg. Backyard Grass
Lot Size in Acres: 0.734
Lot Size in Sq. Ft.: 31,981
Is One Story: No
Lot Description: Lrg. Backyard Grass
School
School District: Prairiland ISD
Elementary School: Deport
Jr. High School: Prairiland
High School: Prairiland
Additional Information
Year Built Details: Preowned
Property Type: SFR
Property SubType 2: Single Detached
Property SubType: Single Family Residence
Year Built: 1970
Status: Active
Home Owners Association: None
Unexempt Taxes: 85
Posted by NE TEXAS REALTY GROUP on April 21st, 2022 2:36 PM

106 S TAYLOR STREET
LADONIA, TX 75449

$115,000

Beds: 2
Baths: 2
Sq. Ft.: 1,259
Type: House
   
Property Photo
1 of 21
Listing #20036925
Nice 2 bedroom 2 bath brick home in the Fannindel ISD. This property is located only minutes from the newly constructed Lake Ralph Hall and will make a great investment or personal home. This home offers a 1.70 acre lot with good road frontage, an oversized detached garage with workshop and storage area, screened in porch and fenced yard. The interior offers a gas fireplace in the open living area, island bar area in kitchen and 2 master suites with walk in closets and private bathrooms. This home is in overall good condition with only a few finishing touches needed and will not last long at this price. Come take a look. Sold AS-IS.
Property Features
Location Information
County: Fannin
Latitude: 33.423457
Longitude: -95.938782
Subdivision: Original Town Of Ladonia
Directions: GPS
Interior Features
Interior: Decorative Lighting, Kitchen Island, Walk-In Closet(s)
Full Baths: 2
Has Fireplace: Yes
Number of Fireplaces: 1
Heating: Central, Gas Jets
Cooling: Ceiling Fan(s), Central Air, Electric
Floors: Carpet, Laminate, Vinyl
Laundry: Electric Dryer Hookup, In Kitchen, Full Size W/D Area, Washer Hookup
Appliances: Dishwasher, Plumbed For Gas in Kitchen
Has Basement: No
Exterior Features
Style: Traditional
Construction: Brick
Exterior: Covered Patio/Porch, Storage
Foundation: Slab
Roof: Composition
Water / Sewer: City Sewer, City Water, Co-op Electric, Gravel/Rock
Utilities: City Sewer, City Water, Co-op Electric, Gravel/Rock
Parking Description: 2-Car Single Doors, Garage, Workshop in Garage
Has Garage: Yes
Garage Spaces: 2
Patio / Deck Description: Covered
Has a Pool: No
Other Structures: Workshop
Lot Description: Acreage, Lrg. Backyard Grass
Lot Size in Acres: 1.738
Lot Size in Sq. Ft.: 75,707
Is One Story: No
Lot Description: Acreage, Lrg. Backyard Grass
School
School District: Fannindel ISD
Elementary School: Fannindell
Jr. High School: Fannindell
High School: Fannindell
Additional Information
Year Built Details: Preowned
Property Type: SFR
Property SubType 2: Single Detached
Property SubType: Single Family Residence
Year Built: 2002
Status: Active
Home Owners Association: None
Unexempt Taxes: 2290
Posted by NE TEXAS REALTY GROUP on April 21st, 2022 2:35 PM

3353 FM 10
CARTHAGE, TX 75633

$190,000

Beds: 3
Baths: 3
Sq. Ft.: 2,820
Type: House
   
Property Photo
1 of 30
Listing #20037074
HUD OWNED HOME FHA CASE#511-002100 SOLD AS-IS. One of a kind home with 12.95 acres of land in Gary ISD. This rustic cabin style home has 3 bedrooms and 3 full bathrooms. Large living room with rock fireplace and plenty of wood work and built ins. The master bedroom has floor to ceiling glass and vaulted ceilings plus a huge walk in closet. Nice kitchen with large breakfast bar and tons of cabinet space. Large wood deck on the back and a workshop or additional guest quarters are a plus. Come take a look to see all it offers because it will not last at this price!
Property Features
Location Information
County: Panola
Latitude: 32.07155
Longitude: -94.373606
Subdivision: Isabella Hanks Surv A-271
Directions: GPS
Interior Features
Interior: Decorative Lighting, Kitchen Island, Natural Woodwork, Vaulted Ceiling(s), Walk-In Closet(s)
Full Baths: 3
Has Fireplace: Yes
Number of Fireplaces: 1
Heating: Central, Gas Jets
Cooling: Ceiling Fan(s), Central Air, Electric
Floors: Carpet, Concrete, Vinyl, Wood
Laundry: Electric Dryer Hookup, Utility Room, Washer Hookup
Appliances: Dishwasher, Electric Oven, Electric Range
Has Basement: No
Exterior Features
Style: Craftsman
Construction: Siding
Exterior: Covered Patio/Porch, Storage
Foundation: Pillar/Post/Pier, Slab
Roof: Metal
Water / Sewer: Asphalt, Co-op Electric, Outside City Limits
Utilities: Asphalt, Co-op Electric, Outside City Limits
Parking Description: Driveway
Has Garage: No
Garage Spaces: 0
Patio / Deck Description: Covered, Deck
Has a Pool: No
Other Structures: Guest House, Workshop w/Electric
Lot Description: Acreage, Lrg. Backyard Grass, Water/Lake View
Lot Size in Acres: 12.956
Lot Size in Sq. Ft.: 564,363
Is One Story: No
Lot Description: Acreage, Lrg. Backyard Grass, Water/Lake View
School
School District: Gary ISD
Elementary School: Gary
Jr. High School: Gary
High School: Gary
Additional Information
Year Built Details: Preowned
Property Type: SFR
Property SubType 2: Single Detached
Property SubType: Single Family Residence
Year Built: 1980
Status: Active
Home Owners Association: None
Unexempt Taxes: 4992
Posted by NE TEXAS REALTY GROUP on April 21st, 2022 2:34 PM

THE BIGGEST QUESTIONS CLIENTS ARE ASKING THIS SPRING

Buckle up. This spring market is going to be a busy one.

Homes are selling fast and inventory just can’t keep up with the demand.

But there are still some big questions surrounding the housing market right now holding back a lot of buyers and sellers.

And being able to answer them could make or break how successful you are this spring.

Here’s what you need to know so you can educate your sphere right now.

WILL WE SEE MORE INVENTORY THIS SPRING?

For the last number of decades, the real estate market has been broken down into seasons with spring reigning as the best time to sell a home. Traditionally, that’s how it’s been. But there’s a big shift happening now.

Recent years have seen that seasonality blur as more and more people decide to buy or sell a home no matter what time of year it is.

What we do know is that while we’ll probably see more homes hit the market this spring, supply is still too low to keep up with demand.

So, even if more homes do come on the market compared to previous months, there are plenty of willing and ready buyers waiting on the sidelines to scoop them up.

The best way to prepare your clients for this competitive market is to make sure they’re ready to move fast, be patient and stay flexible.

WHY ARE PRICES RISING SO QUICKLY?

No one wants to buy at the top of the market. We saw how that played out in 2008, and it didn’t end well for a lot of homeowners.

But according to recent expert projections, we aren’t at the top of the market.

But before we dive a little deeper into that, we need to explain a couple of things.

First, with both Millenials and Gen Z now in the buyer group, there isn’t enough existing inventory to keep up with the amount of aspiring homeowners. Second, we didn’t build enough homes in the last decade to keep up with the demand.

This leads us directly to our next big question.

SHOULD I WAIT TO BUY UNTIL PRICES GO DOWN?

So, with existing inventory not being able to keep up with the number of buyers looking to own a home, we are seeing price appreciation that looks strikingly similar to what we saw in the years leading up to the crash.

The big difference between now and then is this: this price appreciation is a direct result of low inventory and high demand. Not high inventory and high demand like in the early 2000s.

Plus, earlier projections by top industry experts are already being revised to higher than originally anticipated. That means more likely than not, we could see another year of above-average price appreciation.

Altos research quote

HOW WILL RISING INFLATION IMPACT THE HOUSING MARKET?

Inflation: one of the most unfortunate results of the pandemic. And there have obviously been many (let’s never forget the infamous toilet paper shortage).

But inflation isn’t new. And if we look all the way back to 1970, we actually see one big takeaway: homeownership is historically a great hedge against it.

For example, as rental prices continue to rise nationwide, locking in mortgage payments can keep your largest monthly cost the same. remain the same.

Another big takeaway: home price appreciation has outperformed inflation for decades.

So, if you have clients worried about how today’s inflation may affect the housing market, tell them this: at the very least, data shows that historically real estate gas outperformed inflation.

SHOULD I WAIT UNTIL PRICES GO DOWN TO BUY?

Like we covered above, industry experts are projecting that prices will only go up from here (and that’s not likely to change anytime soon).

There are many benefits to homeownership. But the biggest one you need to discuss with your clients right now is that it’s consistently been voted the best long-term investment a person can make in their life.

And waiting for the market to cool off or prices to go down means only one thing: paying more for the exact same house. Especially as experts project mortgage rates will continue to rise.

The best advice you can give any clients who are hesitant to hop into this hot market is this: you can wait, but it will probably cost you.

Bottom Line

The defining factor between good agents and great agents is one thing: education.

This may be a competitive market for buyers and sellers. It’s also cutthroat for agents competing for listings. If you want to stand out from the crowd and prove yourself as the agent for the job, you need more than your license.

You need data, facts and expert insights to back up your answers and spread education throughout your sphere.

That’s why we created our How to Succeed in a Changing Market eGuide. Download it free and get tips and tactics to help you and your clients navigate today’s constantly changing and challenging housing market.

That’s what will show prospective clients that you are the trusted advisor to work with this spring.

Posted by NE TEXAS REALTY GROUP on April 21st, 2022 2:33 PM

512 NEAL STREET
HOWE, TX 75459

$220,000

Beds: 3
Baths: 2
Sq. Ft.: 2,400
Type: House
   
Property Photo
1 of 17
Listing #20019178
Great opportunity for this 2400 SF 3 bedroom 2 bath brick home centrally located in a small community between McKinney and Sherman TX. Great small town living with easy access to Interstate 75 for short commute. This home is in the Howe ISD. This property offers a metal roof, attached 2 car garage, 2 car carport, large covered patio and 2380SF workshop with utilities. The interior offers 2 living areas and large bedrooms. This home has a ton of custom built in cabinets and features. This home would be great for work from home small business person or someone looking for tons of storage space. This property has a lot to offer and ready for your ideas. Come take a look before it is gone.
Property Features
Location Information
County: Grayson
Latitude: 33.510478
Longitude: -96.615347
Subdivision: Chisholm Add
Directions: GPS
Interior Features
Interior: Built-in Features, Decorative Lighting
Full Baths: 2
Has Fireplace: No
Number of Fireplaces: 0
Heating: Central, Natural Gas
Cooling: Ceiling Fan(s), Central Air, Electric
Floors: Ceramic Tile, Combination, Concrete, Hardwood, Laminate
Laundry: Electric Dryer Hookup, Utility Room, Full Size W/D Area, Washer Hookup
Appliances: Dishwasher, Microwave, Vented Exhaust Fan
Has Basement: No
Exterior Features
Style: Ranch
Construction: Brick
Exterior: Covered Patio/Porch, Storage
Foundation: Slab
Roof: Metal
Water / Sewer: Asphalt, City Sewer, City Water
Utilities: Asphalt, City Sewer, City Water
Parking Description: 2-Car Single Doors, Attached Carport, Carport, Covered, Garage
Has Garage: Yes
Garage Spaces: 2
Patio / Deck Description: Covered, Front Porch, Rear Porch
Has a Pool: No
Lot Size in Acres: 0.366
Lot Size in Sq. Ft.: 15,942
Is One Story: No
School
School District: Howe ISD
Elementary School: Summit Hill
Jr. High School: Howe
High School: Howe
Additional Information
Year Built Details: Preowned
Property Type: SFR
Property SubType 2: Single Detached
Property SubType: Single Family Residence
Year Built: 1974
Status: Active
Home Owners Association: None
Unexempt Taxes: 4124
Lease Terms: Lease Type: , Lease Conditions:
Listing courtesy of
Kevin Riney, NE Texas Regional Realty
© 2022 North Texas Real Estate Information Systems. All rights reserved.
Posted by NE TEXAS REALTY GROUP on April 13th, 2022 11:49 AM

2692 HAWK ROAD
DIANA, TX 75640

$96,500

Beds: 3
Baths: 2
Sq. Ft.: 1,220
Type: Mobile Home
   
Property Photo
1 of 15
Listing #20001298
HUD Owned Home FHA Case#511-146594 Sold AS-IS. Great location! 3 bedroom 2 bath home on .50 acres. Tree shaded lot. Well kept neighborhood. This home offers a split bedroom floorplan and open living and dining area. The exterior offers a small fenced back yard with covered deck. Handicap ramp at front entrance. This home is in overall good condition and ready for new owner. Come take a look!
Property Features
Location Information
County: Upshur
Latitude: 32.706305
Longitude: -94.778503
Subdivision: John Lout Surv A-275
Directions: GPS
Interior Features
Interior: Eat-in Kitchen, Vaulted Ceiling(s), Walk-In Closet(s)
Full Baths: 2
Has Fireplace: No
Number of Fireplaces: 0
Heating: Central, Electric
Cooling: Ceiling Fan(s), Central Air, Electric
Floors: Linoleum
Appliances: Dishwasher, Electric Range
Has Basement: No
Accessibility: Accessible Approach with Ramp
Exterior Features
Construction: Siding
Exterior: Covered Deck
Foundation: Block
Roof: Composition
Water / Sewer: Aerobic Septic, All Weather Road
Utilities: Aerobic Septic, All Weather Road
Parking Description: Driveway
Has Garage: No
Garage Spaces: 0
Fencing: Chain Link
Patio / Deck Description: Covered, Deck
Has a Pool: No
Lot Size in Acres: 0.506
Lot Size in Sq. Ft.: 22,041
Is One Story: No
School
School District: New Diana ISD
Elementary School: Newdiana
Jr. High School: Newdiana
High School: Newdiana
Additional Information
Year Built Details: Preowned
Property Type: MH
Property SubType 2: Mobile Doublewide w/Land
Property SubType: Manufactured Home
Year Built: 2011
Status: Active
Home Owners Association: None
Unexempt Taxes: 943
Exclusions: No keys will be given at closing. Buyer must be ready to change locks after closing and funding.
Lease Terms: Lease Type: , Lease Conditions:
Listing courtesy of
Kevin Riney, NE Texas Regional Realty
© 2022 North Texas Real Estate Information Systems. All rights reserved.
Posted by NE TEXAS REALTY GROUP on April 13th, 2022 11:40 AM

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