Market Trends for DFW - 2017

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Real Estate Agent with DFW FINE PROPERTIES 0506509

by ©Patricia Feager, 1/23/2017

 

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Trends for housing is a major factor to know and understand when looking to buy. The economy, your income, and ability to pay on time plays a major role in your decision-making. Don't be confused by National, Local News, or T.V. Shows when it comes to housing. The current market in the Dallas Metroplex is low inventory for residential housing. As of 1/23/2017, it is still a Seller's Market. New construction may or may not have existing inventory or may need time to build. If you sell fast you may need to find another place to live until something is available. Every area and situation will vary.   

 

If you're a first-time homeowner or if you had an interrupted life and starting over, you'll need to make wise decisions. After all, regardless of income or price range, Real Estate is one of the most expensive investments of your life. Analyze carefully! If you are a current homeowner, many things have changed in the Mortgage Industry and within cities that impact infrastructure and commute. Remember:

  • This is your life.
  • Your purchase is to benefit YOU! 
  • You will be accountable for payments on time.
  • The location is important - consider your lifestyle.
  • Resale value should be considered.

 

CONDO - PROS & CONS

  • Mortgage (if applicable) + Taxes + Insurance + Association Fees
  • Association fees are collected outside of monthly mortgage payment.
  • Association Fees are used to pay for building maintenance, management fees, and amenities.
  • There may be parking restrictions and additional fees. 
  • There may or may not be Condos & Townhouses available in some areas.
  • There may or may not be School Buses available.
  • Evaluate Cost Benefit Analysis. Remember this is YOUR life & YOUR responsibility.
  • Ask about Special Assessments and how it will have an impact on your wallet.
  • Rules & Restrictions. How will they affect your lifestyle, needs & wants?
  • Resale value. Curb appeal = First Impressions.

 

HOUSE - PROS & CONS 

  • Mortgage (if applicable) + Taxes + Insurance + Property Owner Association Fees (if applicable).
  • Cheaper doesn't always mean better; Better doesn't always mean more expensive.
  • A homeowner is responsible for all maintenance inside and outside of the property.
  • Care includes maintenance, trees, and sidewalks on your property.
  • Space to store lawn mowers, bicycles, tools, and extra equipment.
  • The bigger the building the more cost is involved in heating & cooling.
  • May or may not include additional HOA dues.
  • May or may not include amenities.
  • May or may not have more privacy, control over your property to remodel & make changes.
  • Home improvements may increase resale value as an investment of time & money.
  • Pets should be considered - yard space, fencing, pet protection.

Staying current on market trends, working with someone you know, like and trust, an agent who works in the areas you're looking for, someone with knowledge and experience, who can provide resources, and communicate - answer their phone, text, or email are important factors to consider when choosing the best agent to represent you. 

 

house sillowet

 

 

 

 

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Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

Real Estate Commission Consumer Protection Notice  

 

 dfw fine properties

 

DFW FINE PROPERTIES

                                        3575 Lone Star Circle, Suite 315
                                        Fort Worth, TX 76117
                                        Office: 817-748-4800/FAX: 817-748-4900

                                         Patricia Feager
                                                        Cell: 469-951-4758

                                                        Email: patricia.feager@gmail.com

 

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"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

  

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Ambassador
1,344,206
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Patricia, this is very informative and I hope that buyers heed your words. It is one of the most important decisions one can make in life. A large committment to be taken seriously....but you are investing in yourself is how I feel about it. 

Jan 23, 2017 08:32 AM #1
Rainmaker
2,034,414
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 - You make an excellent point. Thank you!

Jan 23, 2017 08:38 AM #2
Rainmaker
778,598
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

I love the pros and cons of buying diufferent properties and the statement about needing to pay the mortgage, seems some forget that like maintenance of thier homes as well. 

Jan 23, 2017 09:18 AM #3
Rainmaker
1,501,649
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hello Patricia Feager, the most important is what you've stated is to work with someone you can trust, like, knowledgeable, knows the area.
Buying a home can be stressful, doing it alone or with the help of the internet can turn any potential buyer to a lifetime tenant. 

Jan 23, 2017 09:40 AM #4
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I hope home buyers will read this post and learn from it. Thank you for sharing 

Jan 23, 2017 03:18 PM #5
Rainmaker
1,523,097
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Patricia, very well said as always. Working with someone you trust is so important and really a priceless thing to have. 

Jan 23, 2017 04:37 PM #6
Rainmaker
3,248,015
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Patrica

Thank you for sharing the insight on the 2017 Dallas - Ft Worth Texas real estate market.

Good luck and success.

Lou Ludwig

Jan 23, 2017 06:27 PM #7
Rainmaker
2,034,414
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Lou Ludwig - Thank you for taking an interest in my market area and all your good wishes. I wish you the same, luck and success!

Jan 23, 2017 07:11 PM #8
Rainmaker
2,034,414
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Amanda S. Davidson - Working with someone you like and trust opens the door to making a real difference in the life of another human being. We are all connected. It's all about choices and making the right decision.

Thank you and I hope you have a wonderful day!

Jan 23, 2017 07:14 PM #9
Rainmaker
2,034,414
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Gita Bantwal - We are all life learners, aren't we? 

Thank you, so much!

Jan 23, 2017 07:15 PM #10
Rainmaker
58,457
Beth Bromund
Coldwell Banker Weir Manuel - Rochester, MI
REALTOR (248) 651-3500

This is great information.  I'm going to bookmark it and share it with my daughter who will be looking for a home in the next year.  

Jan 24, 2017 03:00 AM #11
Rainmaker
2,502,773
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Patricia, excellent post and should help people really understand what it means to purchase a house and that they need a Realtor who will walk them through the home purchase process.

Jan 24, 2017 01:25 PM #12
Rainmaker
5,419,757
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Jan 25, 2017 03:40 AM #13
Rainmaker
622,621
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Living in a condo certainly has its benefits, especially with a doorman and building with lots of amenities.  But I can also see the benefits of living in a house and the value of that situation as well. 

Feb 23, 2017 11:42 AM #14
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Patricia Feager, MBA, CRS, GRI,MRP

Selling Homes Changing Lives
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