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How’s the Market?

How’s the Market?

As we wait for the final figures to come in for 2010 real estate sales, which should be tomorrow, it’s safe to say that the 21% downward trend for third quarter continued for the fourth.  Condos sales are much worse than single family residences.  As far as pricing goes the only way to determine the correct value is by supply & demand of a certain geographic area so please don’t take the media seriously on pricing of their real estate stories.

Dallas area was hit last in the melt down so it will be a slow recovery.  Sellers need to remember that people still buy & sell real estate depending on individual needs which may or may not have to do with the economy.  Banks are still tight with lending and I see this to continue going forward.  This gives a good recap of the Dallas area market as well as a national trend as the demand for buying a home is low.  As we approach the spring market watch for increased inventories and better pricing for buyers across the board.  There’s more owner financing being offered and it’s certainly fine to ask if a seller would entertain this option.


About Terry Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite. Have questions? Ask me. You can find me on Google+ and Pinterest.

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