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

Frisco Home Values | Biggs Realty Blog

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 28, 2023   /   by Kenneth Brands

What You Should Know About Rising Mortgage Rates

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:

“Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.”
The most recent weekly average 30-year fixed mortgage rate reported by Freddie Mac is 6.5%. It ...

  biggs realty, dallas real estate, home buyers, market update, tips for buyers, frisco home values, mckinney home sales, dfw real estate, resources, dallas home sales, mortgage rates, real estate investment, mortgage, affordability, homeownership, inflation, foreclosures, interest rate, recession, forbearance, buydown

Monday, February 13, 2023   /   by Kenneth Brands

Lower Mortgage Rates Are Bringing Buyers Back to the Market

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.

Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before.
So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.
Mike Fratantoni, SVP and Chief Economist, MBA:

“Mortgage rates are now at their lowest level since September 2022, and about a percentage point below the peak mortgage rate last fall. As we enter the beginning ...

  biggs realty, dallas real estate, home buyers, market update, tips for buyers, tips for sellers, frisco home values, mckinney home sales, dfw real estate, new home buyers, sellers, north texas home sales, mortgage rates, mortgage, affordability, homeownership, foreclosures, texas real estate trends, interest rate, recession

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

Thursday, January 12, 2023   /   by Kenneth Brands

The Truth About Negative Home Equity Headlines

Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.

In truth, the headlines don’t give you all the information you really need to understand what’s happening and at what scale. Let’s break down one of the big equity stories you may be seeing in the news, and what’s actually taking place. That way, you’ll have the context you need to understand the big picture.
Headlines Focus on Short-Term Equity Numbers and Fail To Convey the Long-Term View
One piece of news circulating focuses on the percentage of homes purchased in 2022 that are currently underwater. The term underwater refers to a scenario where the homeowner owes more on the loan than the house is worth. This was a huge issue when the housing market crashed in 2008, but it's much less significant ...

  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, texas real estate trends, interest rate, recession, equity, headlines