Your REALTOR:
Roxanne DeBerry
July 2019
Real
"Putting Your Interests First"


How to Make Sure You Don’t Fall out of Escrow—Buyer’s Version
According to The Truth About Mortgage, the "sale fail” rate of homes is rising. "More than four out of 100 sales look as if they’re going to close, and then fall out of escrow for one reason or another,” they said.
      So how do you protect your purchase and make sure you get to the finish line? These four tips will help.
      1. Prepare yourself for the inspection Especially if you’re buying an older home, there are bound to be some surprises in the inspection report. The sale fail trend is particularly pronounced for older homes.
      "Homes built from 1959 through 
Mortgage Rates
U.S. averages as of July 2019:


30 yr. fixed: 3.73%
15 yr. fixed: 3.16%
5/1 yr. adj: 3.39%






1969 had the highest sale fail rate at 5.2%, compared to homes built in 2016, with a dropout rate of only 2.6%, which is among the lowest proportion of failed sale bands,” said The Truth
Wondering What Your Home Is Worth?

Let me show you.




How to Make Sure Your Home Closes Escrow—Seller’s Version
     You just heard those magic words: "We have a deal.” Now, you just have to get through escrow and you can move on to the next stage in your life. That means making sure your home doesn’t end up back on the market. Here are 6 steps you can take both before you list and during the escrow process to make sure everything goes smoothly all the way to closing.
      1. Carefully consider your sales price If you’re working with an experienced real estate agent, he or she should have a recommended pricing strategy based on area comparables. Pressuring your agent for a higher sales price could cause the home to sit on the market and, if you do get an offer, the appraisal may not match the sales price. "If the appraisal comes in



Tips for Keeping Your Home Safe During Summer
     Does your house turn into summer camp as soon as school gets out? Does it seem like you’re hosting the whole neighborhood on a daily basis? It’s great to be the "fun house”—the one where everybody wants to hang out. But, if that means you’re going to have a bunch of people coming through the door (especially children), there are some precautions you’re going to want to take to help keep everyone safe and keep you from being sued or on the hook for expensive medical treatments—or worse.
      Gate your pool According to the Center for Disease Control (CDC), "there were an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States” between 2005 and 2014. That’s just about 10 deaths every day, many of which could have been avoided with safety precautions to keep children out of the pool area, like a simple gate. Costs range

Roxanne DeBerry's
Video News Channel



Click image to view



Is the Market Hot or Not?

 

 We hope everyone had a great 4th of July celebration and had time to spend with friends and family. Everyone on The DeBerry Team has been extremely busy helping people buy and sell homes.

So what has been happening in Collin County over the past 6 months compared to 6 months previous. Let's look at pricing. Home pricing continues to rise based on the Median Price Range. However, home pricing is not moving up as fast as it was in 2018. So what factors continue to drive the higher prices. First, the supply of lower priced homes is not where it needs to be to meet demand and therefore by default more homes are being sold at the elevated prices. When looking at the pricing of homes in 2019 compared to 2018 in Collin County, prices are up about 2.2%. Inventory is a factor also in pricing. Compared to 2018 inventory has grown approximately 12.5% in 2019. There are approximately 33,696 homes for sale as the end of June in Collin County. This fact alone means buyers have more choices to look at in Collin County. It also means that at 3.6 months of inventory we are still not in a "Buyer's Market". It takes almost 6 months of inventory to get to that type of market. I am basing this information on all property types both new construction as well as resale homes and all sizes and price ranges. I also want to make sure that you understand that different cities have different Days on Market, Inventory, Pricing, ect. I believe it is important to know a general overview, however when you want specifics of your personal area, you should contact your realtor. One of the factors that the growing inventory has caused is a longer time on the market to sell homes in Collin County. Time to sell is up 33.3% over 2018 and I believe this figure will continue to grow. What's interesting is overall offers coming in are only about .6% lower than last year but almost down 1% from 2017. Again, every area is different so the more specific the information for your neighborhood the better. What is interesting is that demand is down about 10% over 2018 and I believe that is why the inventory is growing and because new listings are behind 2018 at this period of time as well. 

Okay, I given you the numbers! What does it mean?  It means that the market is softer overall than last year but not by a lot. It could also mean that companies relocating to this area from years past has slowed and we are just leveling out. One of my firm beliefs is that there is just not enough starter homes in our market and if there was I personally believe the numbers would be much different. Is it a good time to sell? Yes it is but it is going to take longer to sell over last year in some areas. Mortgage rates continue to be favorable and that will spur buying. I firmly believe it is a great time to purchase a home. Some may say, if I wait it might get better to buy. I don't think so because what happens is interest rates start moving higher and then your waiting causes a larger expense on your mortgage. I am firmly in the "buy now" camp. I hope I have not bored you with this information but as you can see I track them closely so that I am able advise my clients on what the market is doing and how to take advantage of it. 

Today on-line reviews are important and I would like to ask any of you that have used our services to take a moment post a review of our services via this link: Please Review Us Here!

We hope you all are having a great summer and remember if you know anyone looking to buy or sell real estate, please give me a call at 214-676-8040. Thank you for allowing us to keep you informed. If you no longer wish to receive this newsletter, just drop me a line at roxanne@thedeberryteam and I will remove you from our list. 

 

Roxanne DeBerry-Realtor

"The DeBerry Team"

214-676-8040

Keller Williams Realty

 

 



  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles
June Real Estate Roundup
The Refi Boom Goes Bombastic
What Happens When Your Sales Contract and Appraisal Don’t Agree
7 Reasons to Keep Your Credit Good After You’ve Bought a House
How to Make Your Backyard Feel Like a Resort


Roxanne DeBerry,REALTOR CRS ePro
E-mail: roxanne@thedeberryteam.com
Website: http://www.roxannedeberry.com
214-676-8040-CELL
Keller Williams Realty
972-943-7377
3608 Preston Road, Ste. 230
Plano, Texas 75093


Equal Housing Opportunity

unsubscribe
 
E-mail this Newsletter to a friend