Despite the mortgage industry flop this summer. And the media scaring the pants off of buyer the market is picking back up in North Texas. Since December, which is typically the slowest month of the year buyers have been coming back. Homes went from averaging sixty days on the market to over 200 days on market. Now the Diamonds in the Rough are getting snatched up the first week! For example in Lakes of La Cima Subdivions in Prosper this summer there were over 10 foreclosures that we hurting the rest of the market. I just recently pulled comps for a client and there is only 1 foreclosure (in his price point) and the prices of the rest of the listings are getting back to where they were two years ago. Last summer/fall the prices were down 10%. It is good news for all of us to see the market pick back up!! If you are a buyer and want a good deal, act quickly!! Sellers: it's only a few more months and you should be in a better financial situation. Consumers: Don't let the media scare you, everything will be OK here in Texas. Prices didn't soar here the way they did in California, Florida, Arizona and Nevada, so there isn't the same room for depreciation!
Jess Arce Realtor
New Century Realty
972.837.5684
www. RealEstatewithJess.com
The finest compliment I can receive is a referral from my friends and clients!
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