The more things change, the more they stay the same. As summer essentially begins in earnest this week with temps in the high 90s, the housing market seems much the same as it did 12 months ago. With depressed oil prices, interest rates continue to hover near historic lows. Fort Worth and surrounding cities continue to experience tremendous population growth as more and more families and businesses relocate to the area. There are plenty of buyers and low inventory which adds up to a seller’s market. Stop me if you’ve heard it all before.
Much like 2015, reasonably priced homes are selling quickly and often receive multiple and/or above list price offers. So, if you are looking to move in the area, there’s a good chance you can make some money when you sell…but don’t expect a deal when it’s time to buy.
Some keys for buyers. (1) Be prepared to offer if you see a home you like. (2) Be prequalified by a lender – this ensures that you are ready to move quickly if necessary. (3) Contingencies for sale of another property are still possible but with so many buyers it helps to have your home listed at a minimum. (4) Don’t get discouraged…easier said than done.
Cheers and Happy Hunting!
Owner & Broker
Chisholm Realtors, LLC