Is Now a Good Time To Buy?

By
Real Estate Agent with Coldwell Banker Apex, Realtors

We get so many questions from Buyers and Sellers about timing of the market.

Let me tell you that this is a myth! No one can "time" a market, the market is what the market is!

Sure there are factors that help set the market, consumer confidence, employment factors, interst rate, etc...

But you should never try to "time" the market, it's just impossible to do.

News flows too fast in today's society and it seems like the market is changing minute by minute.

On one hand we have the doom and gloom of rising foreclosures in Collin County, up to almost 700 filings for April auction. But on the other hand we have the new $8000 tax credit for 1st time buyers and interest rates reaching lows we haven't seen since 1965! According to Freddie Mac the nationally averaged 30 year fixed rate was just 4.98%

So if you know of a friend, family member or co-worker who's ready to take the plunge into home ownership, have them give us a call.

The latest Allen real estate statistics were recently released by the Collin County Association of Realtors and here are the numbers,

New listings in February were just 162, down 19.4% from the same time last year.

The number of Closed Sales was 57, down 45.7%. The Average Sales Price was $217,571 down just 4.5%

it is however taking longer to sell a home, 134 days on market, up nearly 29%.

The number of active listings was down to just 453 single-family detached properties.

So why should you consider listing right now? Well the number of listings is down so that means less competition.  If you have equity in your home now is the perfect time (a combination of prices and interest rates) for you to consider "moving up" in the market.

We want you to be an informed home buyer or seller and that is why it's so important for you to consult with us before making your next move.

 

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Terri Pescatore

The Pescatore Team
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