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Market Update | Biggs Realty Blog

Thursday, August 19, 2021   /   by Kenneth Brands

Are Millennials Buying Homes In The DFW Metroplex?

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.
Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing slightly behind older generations:
“Historically, millennials have delayed the critical lifestyle choices often linked to buying a first home, including getting married and having children, in order to further their education. This is clear in cross-generational comparisons of homeownership rates which show millennials lagging their generational predecessors.”
So, it’s partially true that some millennials have waited on homeownership to focus on other things in their lives – and that’s impacting certain! ...

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Monday, August 16, 2021   /   by Kenneth Brands

What Is Your Home Worth Today? Understanding Home Price Appreciation In The Dallas-Fort Worth Metroplex

When you hear the phrase home price appreciation, what does it mean to you? Through context clues alone, chances are you know it has to do with rising home prices. And as a seller, you know rising home prices are good news for your potential sale. But let’s look past the dollar signs and dive deeper into the concept. To truly understand home price appreciation, you need to know how it works and why it matters to you.
Investopedia defines appreciation like this:
“Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates. This is the opposite of depreciation, which is a decrease in value over time.” 
When we consider this definition and how it applies to real estate, a few words stick out: supply and demand. In today’s real estate market, we’re experiencing hig. ...

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Thursday, August 12, 2021   /   by Kenneth Brands

Is Summer The Best Time To Sell Your Home?

While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move.

1. Your House Will Likely Sell Quickly

According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly. The report notes homes are selling in an average of just 17 days.

Average days on market is a strong indicator of buyer competition, and homes selling quickly is a great sign for sellers. It’s one of several factors that indicate buyers are motivated to do what it takes to purchase the home of their dreams.

2. Buyers Are Willing To Compete for Your House

In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers a. ...

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Monday, July 5, 2021   /   by Kenneth Brands

6 Upgrades Millennial Buyers Pay More For – and 1 Exception

Home sellers assume they must make some upgrades before putting their home on the market. While any deferred maintenance or extreme wear-and-tear issues should be addressed, major upgrades or updates may not net more money when you sell; especially with millennial buyers, who are looking for their first home in droves.
6 Common Upgrades Millennial Buyers Won’t Pay Extra For – and 1 They Will
1. Professional Landscaping – Although a nicely maintained yard is attractive to all buyers, over-the-top landscaping with special hardscapes or fountains will not appeal to millennials.
2. Upgraded Utilities – You may appreciate the new plumbing, but buyers will not pay more for copper or PEX pipes or the brand-new junction box.
3. HVAC – Again, new systems are appreciated, but buyers won’t offer more for the latest systems.
4. New Roof – A leaking roof will certainly lower the sales price but replacing one will not have the opposite effect.
5.; ...

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Thursday, July 1, 2021   /   by Kenneth Brands

Buyers and Sellers – Stay Focused on Your Goals!

Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus! 
Buyer Challenges
Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.
Seller Challenges
Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer b. ...

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  biggs realty, sellers, tips for sellers, home buyers, tips for buyers, plan of action for home buyers, market update, real estate investment, listing