If you need assistance, please call 972-543-4350

First Time Homebuyers | Biggs Realty Blog

Tuesday, May 9, 2023   /   by Kenneth Brands

Buyer Activity Is Up Despite Higher Mortgage Rates

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.
Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):

As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes even during colder months.
To help tell the story of why the latest report is significant, let’s compare foot traffic this February with each February for the last six years (see graph below). It shows this was one of the best Februarys for buyer activity we’ve seen in recent memory.

In the last six years, we saw the most February buyer traffic in 2021 . ...

  biggs realty, dallas real estate, home buyers, market update, tips for buyers, dfw real estate, frisco home values, mckinney home sales, new home buyers, north texas home sales, allen real estate, dallas-fort worth real estate, dallas home sales, mortgage rates, affordability, homeownership, housing bubble, mortgage, inflation, texas real estate trends, interest rate, first time homebuyers, common home buyer questions, buywithbiggs, gobiggsorgohome, sellwithbiggs

Thursday, March 9, 2023   /   by Kenneth Brands

5 Tips For Buying A Home In North Texas

Are you looking to purchase a home but not sure where to start? The process of finding a house can be overwhelming, but there are a few tips that will help make the journey smoother.




Know What You Can Afford– Before you can even begin your search for the perfect home, you should have an accurate idea of how much house you can realistically afford. It's important to consider factors such as your monthly income, down payment, closing costs, and other expenses before making any decisions. Any real estate agent at Biggs Realty can introduce you to several trusted local mortgage experts and help you get pre-approved.

Consider Your Needs– When searching for a home, it's important to look at what your needs are before deciding on any particular property. Ask yourself questions like: How much space do I need? Do I want a large yard or outdoor space? Do I need extra bedrooms or office space? What kind of amenities am I looking for? Answering these questions will help nar ...

  biggs realty, dallas real estate, home buyers, market update, tips for buyers, dfw real estate, frisco home values, mckinney home sales, new home buyers, north texas home sales, plan of action for home buyers, homeownership, texas real estate trends, first time homebuyers, north texas real estate, real estate trends

Tuesday, February 7, 2023   /   by Kenneth Brands

Experts Forecast a Turnaround in the Housing Market in 2023

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pick up. All of that’s great news for the housing market this year. Here’s what experts are saying.
Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:

“The current state of the housing market is that it is certainly in transition.”
Susan Wachter, Professor of Real Estate and Finance, University of Pennsylvania’s Wharton School:

“Housing is going to ease up. I think 2023 will be a turnaround year.”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“Mortgage ...

  biggs realty, dallas real estate, home buyers, tips for buyers, market update, tips for sellers, frisco home values, mckinney home sales, dfw real estate, new home buyers, allen real estate, sellers, north texas home sales, dallas-fort worth real estate, resources, dallas home sales, mortgage rates, housing bubble, mortgage, affordability, homeownership, inflation, foreclosures, texas real estate trends, interest rate, recession, common home buyer questions, first time homebuyers

Saturday, December 24, 2022   /   by Kenneth Brands

What To Expect From the Housing Market in 2023

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position.
As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable.
But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the Fed bring inflation down even more and keep it there. Here’s what housing market experts say we can expect next year.
What’s Ahead for Mortgage Rates in 2023?
Moving forward, experts a ...

  biggs realty, dallas real estate, home buyers, tips for buyers, market update, tips for sellers, frisco home values, mckinney home sales, dfw real estate, new home buyers, allen real estate, sellers, north texas home sales, dallas-fort worth real estate, plan of action for home buyers, resources, dallas home sales, real estate investment, mortgage rates, housing bubble, mortgage, affordability, homeownership, inflation, foreclosures, texas real estate trends, interest rate, recession, bidding wars, buydown, first time homebuyers

Monday, December 12, 2022   /   by Kenneth Brands

What’s Going on with Home Prices?

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas.
What Are The Experts Saying?
Danielle Hale, Chief Economist at realtor.com, says: “The major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled by all-time low mortgage rates which are a thing of the past. As a result, home price growth is expected to continue slowing, dipping below its pre-pandemic average to 5.4% for 2023, as a whole.”
! ...

  biggs realty, dallas real estate, home buyers, tips for buyers, market update, tips for sellers, frisco home values, mckinney home sales, dfw real estate, new home buyers, allen real estate, sellers, north texas home sales, dallas-fort worth real estate, resources, dallas home sales, listing agent, real estate investment, housing bubble, mortgage, affordability, homeownership, inflation, common home buyer questions, interest rate, recession, buydown, first time homebuyers