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Truth – Part 1 The market is not awesome.


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The market in DFW has never been better, right? Well... Maybe not and here's why. Our market is out of balance. There are more buyers than sellers. Economics 101, supply and demand. People from other parts of the country continue moving here in droves due to plentiful jobs, temperate climate and the many entertainment options. Additionally, people who already live here aren't leaving. In a good market, everyone who wanted to move could easily do so in 45-60 days. As it is, if you're buying a starter home, which is now ANY home under $200k, get ready for multiple offers, bids over list price, cash offers to compete against as well as REIT and investor money that is also out there bidding against Joe Homeowner.

Why? Rates are low, the cost of living here is relatively low and I expect the trend to continue until either: a) Interest rates go up, which will mean fewer people qualify for big loans, which means downward pressure on prices b) The cost of living here rises to meet other parts of the country (which with rising housing costs, we're getting there) so that people stop moving here or c) A significant world event, terrorist attack, mass disease, etc.

So where do we all live and what does this mean? Sure, you can sell your house for top dollar very quickly with the right pricing, marketing and presentation. Without those things and in certain areas & price points, homes are much, much harder to sell. But what about buying? The immediate DFW area is built out and most new construction has focused north and east towards Frisco, Plano, McKinney and beyond with pockets of custom builders here and there.

If you're selling in order to buy (contingent), you immediately drop to the bottom of the priority list as a bidder. Sellers want certainty around their buyers closing date, terms and time frames. Contingent buyers have the least certainty of all classes of buyers. So what to do? Interviewing and hiring a great agent, who is experienced and can negotiate on your behalf is a good place to start. Multiple offers are common, and I can promise as a high producing listing agent, not all offers at the same price are equal. Experienced, diligent agents write clean offers, facilitate smooth transactions and make everyone's life easier. With two equal price offers, we will always choose to work with the better agent because we know they will be advising their clients from a position of education and trust rather than ignorance and hope.

We believe you should trust your largest investment to an expert with the market experience to advise you of the truth. Without the truth, you have no clarity and without that, no power. Who among us enjoys being powerless?
Travis