Local News > Setting the Housing Market Record Straight in Frisco TX

Print this Page

Home > Local Real Estate Markets > Frisco TX Mid-August 2010 Current Housing Market Condition

ShareThis

Published August 26 2010 7:28pm

Current conditions of Frisco TX homes for sale market:

The numbers are in and across the country, the front page news splashed all over stating that we just suffered the BIGGEST US Home Sales plunged over 25% in decades, reaching the lowest level since 1999. The National Association of Realtors further add that July 2010 will go down for the largest monthly drop in 4 decades (largest since records have been kept). Reports show that the housing market has not been able to build momentum from the home buyers' tax credit offered by the Obama Administration.

To add fuel to the fire, the New Homes Sales which came out 2 days later showed that it dropped 12.4 percent in July from a month earlier.

So what does this mean to you as a Frisco TX home buyer or seller?

First of all, real estate is highly localized. The numbers that you hear on the news paint an overall American picture across the country. But we live here in Frisco TX. Therefore, we need to seek Frisco TX statistics rather than overall US statistics.

Not only is real estate local, real estate is also very specific to price range. If you are in the higher Frisco TX luxury home markets, the inventory is not moving much. But if you are dealing in the lower-end homes (less than $350K), majority of the Frisco TX homes that sell are less than 30 days.

Depending on the position you are, whether you are a home buyer or home seller, you need to strategize your local market statistics to your advantage.

In addition, real estate is also neighborhood specific. Some neighborhoods were not affected at all by the foreclosure and short sale markets. Some neighborhoods which continue to be highly desirable are appreciating more than 3% per year, yes, even in this market. Some neighborhoods are flooded with lender inventories. Nothing is moving except for distressed sale conditions and regular sellers cannot afford to price their properties to compete with foreclosures and short sales. In short, you need to understand the neighborhood specific market trends in order to negotiate successfully.

Just based on Frisco TX July 2010 Homes For Sale Market Report, the number of transaction are down from a year ago, but the average price per square feet and median price is inching up. So, as a Frisco TX home seller, there is nothing more important than pricing your home correctly the first time because you only have a 30-day window to best sell your property. As a Frisco TX home buyer, although the national news may seem to be to your advantage, attractively priced properties are typically what you have to fight through in order to become successful.

As a general observation to the Frisco TX home market, the buyers are submitting much lower than anticipated offers than before. At the same time, many properties that just come on the market are overpriced.

So, to set the record straight, the Frisco TX housing market is not as bad as the news media painted.

Find out more about living in Frisco TX.

What can you get for your money in Frisco TX?

Everything you need to set up Residency in Frisco TX

Check out Homes for Sale in Frisco TX:

FEATURED LISTINGS


	Meadow Hill Estates Frisco TX Home for Sale 4 bedrooms, 3 baths, approx 3071 sq. ft. $239,900

	3 bedroom + Study home in Hillcrest Estates 3 bedrooms, 2 baths, approx 1925 sq. ft. $179,900

	Panther Creek Estates Home for Sale 3 bedrooms, 2 baths, approx 1894 sq. ft. $178,900

	Hardwood Floor, Granite + More 4 bedrooms, 2 baths, approx 2795 sq. ft. $219,900
» More Listings

QUICK SEARCH

DAILY FIXED MORTGAGE RATES

*Rates subject to change without notice

No Down Payment No Closing Costs Loan available in North Texas

Check out the Affordability-based Zero Down Payment, Zero Closing Cost Loan Program

FRISCO TX HOMES OF THE WEEK

REAL ESTATE MARKET REPORTS

Check out the latest local real estate market reports of Frisco, Plano, McKinney, Allen, Little Elm & Prosper TX.

Be an INFORMED CONSUMER

Texas Information about Brokerage Services

Differences between Buyer Client & Customer

How Real Estate Agents Get Paid

Join Social Media Conversations In

Active Rain is the Top Real Estate Blogging Platform

About Loreena & 3:16 team REALTY

Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
Fax (214) 231-9018
Email Me Here

>> Learn about Loreena

>> Learn about 3:16 team REALTY

>> Check out what our clients have to say on Zillow Review

3:16 team REALTY
is a proud Member
of Frisco TX Chamber of Commerce

Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #0507884.

CLIENT TESTIMONIALS

Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX


PRIVACY POLICY	TERMS OF USE	Real Estate Markets

		● Milford MA Real Estate