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

Housing Bubble | Biggs Realty Blog

Friday, November 26, 2021   /   by Kenneth Brands

How Will Foreclosures and Rising Mortgage Rates Impact The Dallas-Fort Worth Real Estate Market?

With the forebearance program coming to an end and mortgage rates beginning to rise, home buyers and home sellers are turning to local real estate experts to understand how this will impact the Dallas-Fort Worth Real Estate Market. 

With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, I expect we'll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources like Biggs Realty for a look at what to expect from the housing market in 2022.
There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.
1. Foreclosures Are Spiking Today
There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current vo ...

Read More

  biggs realty, home buyers, tips for buyers, sellers, tips for sellers, dallas real estate, market update, new home buyers, real estate investment, resources, allen real estate, dfw real estate, frisco home values, mckinney home sales, millennial home buyers, housing bubble, mortgage, commercial real estate, dallas apartment rent, forbearance, dallas home sales, dallas-fort worth real estate, foreclosures, mortgage rates, north texas home sales

Monday, November 8, 2021   /   by Kenneth Brands

North Texas Mortgage Rates Will Continue To Rise

Experts Project That Mortgage Rates Will Continue Rising In 2022
Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%.
What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates going into 2022.
Freddie Mac:
“The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in?2021 and 3.5 percent in 2022.”
Doug Duncan, Senior VP & Chief Economist, Fannie Mae:
“Right now, we forecast mortgage rates to ...

Read More

  biggs realty, home buyers, tips for buyers, dallas real estate, plan of action for home buyers, market update, real estate investment, new home buyers, dfw real estate, frisco home values, housing bubble, millenials buying real estate in dallas texas, millennial home buyers

Tuesday, March 16, 2021   /   by Kenneth Brands

3 Reasons We're Definitely Not In A Housing Bubble

Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.

1. This time, housing supply is extremely limited

The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.

In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in whic. ...

Read More

  biggs realty, sellers, tips for sellers, home buyers, tips for buyers, plan of action for home buyers, resources, housing bubble, market update