Monday, August 14, 2023 / by Kenneth Brands
Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.
1. People Are Moving to Cities with Lower Housing Costs
One big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating to areas that have less expensive housing options. As a result, small cities are thriving. Hannah Jones, Economics Data Analyst at Realtor.com, summarizes why:
“Affordability is still very much front and center . . . a lot of what’s available is outside of the price range of many buyers. . . .. ...
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Friday, June 16, 2023 / by Kenneth Brands
Dallas-Fort Worth, the vibrant heart of North Texas, offers a unique and bustling residential real estate market. From the urban flair of Dallas to the tranquility of Fort Worth suburbs, the area presents a variety of opportunities and challenges for home buyers and sellers.
Dallas-Fort Worth Real Estate: Opportunities
The Dallas-Fort Worth real estate market thrives on the region's continued population growth, spurred by a thriving job market and a business-friendly environment. The consequent demand for housing creates a lucrative seller's market. Hot properties in high-demand neighborhoods such as Frisco and Plano often ignite bidding wars and earn above-asking prices.
Furthermore, new home construction in Dallas-Fort Worth is on the rise. Whether it's cutting-edge smart homes in Prosper or affordable single-family homes in burgeoning areas like Oak Cliff, the variety of choices for potential homebuyers in Dallas-Fort Worth is vast.
Dallas-Fort Worth Housing Market: Challenges ...
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Thursday, May 25, 2023 / by Kenneth Brands
Feeling the pinch of inflation? You're not alone. From groceries to gas, prices are on the rise, and if you're a renter, you're likely feeling the sting as your monthly payments continue to climb. Amid escalating costs and potential recession fears, you might be questioning whether buying a home in the current economic climate is a wise move. The answer, quite simply, is yes. Here's why. Owning a home can act as a buffer against the escalating costs brought on by inflation. As Freddie Mac points out, "Buying a home today not only starts you on the path to building equity, but securing a fixed-rate mortgage can also lock in your monthly housing costs long-term, even as other living expenses continue to increase – a trend we've been seeing over the past few years."
Unlike rental costs, which typically increase over time, a fixed-rate mortgage payment remains constant throughout the mortgage term (usually 15 to 30 years). In an environment where prices are generally rising, maintm ...
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Thursday, May 11, 2023 / by Kenneth Brands
There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.
But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.
It’s Harder To Get a Loan Now
It was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had different lending standards, making it easy for just about anyone to qualify for a home loan or refinance an existing one. As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. That led to mass defaults, foreclosures, and falling prices.
Things are different today as purchasers face increasingly higher . ...
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Tuesday, March 7, 2023 / by Kenneth Brands
Selling or buying a home can be an exciting, yet daunting task. It’s important to have someone on your side, who knows the ins and outs of real estate, to make sure you are getting the best deal. That’s where Biggs Realty comes in. With a professional, licensed, real estate agent, you can rest assured that all transactions will be handled with the utmost care and expertise. Let’s discuss some of the benefits of enlisting their services.
Experience Matters
The team at Biggs Realty has more than 25 years of experience in helping buyers and sellers navigate the process of selling and buying homes, so you know you're in good hands. From writing offers, to navigating inspections and appraisals, they have seen it all before which means they are better equipped to help you through each step of the process. Plus, their knowledge allows them to negotiate better deals and position their clients for an optimal outcome on each transaction!
Marketing is Key
When it comes t ...
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