How's the Market?
"Inventory in North Texas dropped a whopping 50.7% from May 2020." That's what the Texas A&M Analysis reports.
What do you Want?
"[Y]ou have to decide what your highest priorities are and have the courage --- pleasantly, unapologetically --- to say 'no' to other things. And the way you do that is by having a bigger 'yes' burning inside." ---Stephen R. Covey
Numbers Don't Drive Success - You do!
The big picture in North Texas right now is a median price home is ~$302,000,00 which is up by 21.5% compared to a year ago. The key word in the previous sentence is 'big'. North Texas is BIG! There are really big, small and smaller communities in North Texas where prices and conditions may differ. You have to decide what your highest priorities are and make the best of difficult challenges facing home inventory and prices.
Paying Too Much Attention to Stats Can Drive You Nuts!
Take Flower Mound, for example. The smaller Town of Flower Mound is located in between Dallas and Fort Worth. Home prices vary greatly. Currently, there are about 79, 390 people in Flower Mound. Using a 6 Month Comparative Marketing Analysis in Flower Mound, there are 55 listings with actives status with the medians averaging $550,000.00, maximums: $4,500,000.00 with an average of $868,140.00.
In addition, 19 properties are contingent, 1 has a Kick Out Clause, 26 are under contract, 20 "Coming Soon," 105 pending, and 366 sold with medians: $510,498.00, maximums: $6,489,000.00, and $630,446.00 on average.
Are You Looking to Buy the Best House You Can Afford?
Good luck! More than likely, everyone else is too. Once upon a time Investors looked for fixer uppers, paying pennies on the dollar. Those days are gone. Buyers today are in the mix with aggressive Investors and not just small investors (average people) trying to own their own home while renting out one or a few more to acquire wealth.
Sometimes you just have to shift your strategy and reprioritize. Home ownership matters. Do you really need to live in a community with Award-Winning schools and luxury? Can you handle cosmetic changes on your own or would you rather pay more for a perfect house and pay more for mortgage, taxes insurance, maintenance, and possibly HOA fees? Can you afford to bank on future home ownership costing less?
Something to Think About
Are you part of the fan club for Reality Home T.V. Shows? Have you read recent articles such as 7 Realty Homes that Aren't Real? Do you honestly think it's that easy to buy, renovate, remodel, update, and flip.
Have you examined your conscious and reset your priorities from highest to lowest regarding:
- Your real budget
- Material Goods
- Authenticity (YouTube Do-it-Yourself)
Finally, do certain types of counter tops, flooring, decor, closets, kitchens and baths make you happier or define who you are? How much time do you really have to achieve the things that matter most or spend quality time with those you love most?
In sum, "[Y]ou have to decide what your highest priorities are and have the courage --- pleasantly, unapologetically --- to say 'no' to other things. And the way you do that is by having a bigger 'yes' burning inside." ---Stephen R. Covey