Smile! It's a Buyer's Market!

(This article was published in the Allen News 1/12/2008)

I get so tired of hearing all the bad housing news. Doom and gloom everyday. The reason it gets me so is that we live in North Texas and we're right in the middle of an awesome buyer's market. You see, from my perspective, it's either a buyers market or a seller's market. Either way there are bargains to be had. Seller's may be groaning but if you're staying in this area then good news, you're going to get a terrific deal on your new house!

North Texas Real Estate Information System tells us that here in Allen there is a 4.6 month inventory. They show 84 pending sales and 116 new listings as of December 2007 too. While the inventory is up slightly versus a year ago, the fourth quarter is traditionally soft. The actual date varies among Realtors but typically the third week in February is when the spring market starts up. If we have a warm, sunny February it can actually start the first or second week.

My advice is this: take advantage of our current buyer's market. If you have good credit and money to put down, jump in, there are some amazing deals on houses and financing. If you have a house to sell, make sure you're priced for this market and get it sold! The stress of the actual move is nothing compared to having your house "show ready" every day.

Whether buying or selling, seek the advice of your favorite and trusted Realtor. They're educated, they do this every day and what other educated professional can you get to work for free until you get exactly what you want!