This year, the Frisco real estate market has been highly competitive – and buyers have few choices when in search of a home in the area. For several months so far in 2013, home values have been on their way up, and as surprising as it may sound, many sellers have sold their homes for more than they were asking, simply because homes are in demand, and inventories are nearly non-existent. To sum it all up, the past few months have made sellers ecstatic, buyers, not so much. To add to buyers’ despair, mortgage rates are on the rise as well!
Not to bring you news that’s all bad; there is a silver lining! With home values on the increase and numerous people who want to buy a home in Frisco Texas, many sellers are being prompted to put their homes on the market. As a buyer, though, this means you must be diligent in keeping up-to-the-minute with new homes coming on the market. Keep in mind too that because sellers essentially have the pick-of-the-litter when selecting the right buyer, they will be looking for buyers who have little or no contingencies, or who are capable of paying cash.
Now that you know the biggest worries of prospective home buyers are home values and rising mortgage rates, here are a few other common worries according to a June 2013 survey conducted by Harris Interactive:
- Not qualifying for a mortgage
- Not locating a suitable home (one they fall in love with)
- Home values plummeting after purchase
- Having to decide on a home too quickly due to brief time on the market
- Competition among buyers for the “ideal” home
At Team Nelson, we can help you find the perfect home for your family, and keep you apprised of the Frisco homes coming onto the market quickly, helping you seize the moment! Call our Dallas real estate agents today so that the perfect opportunity doesn’t pass you by.