Closed sales are down from this time last year, but prices and days on market vary significantly by city. See which areas are holding steady, where prices have softened, and what these changes could mean for Buyers and Sellers right now.
Do a Foundation Check: 5 Things to Watch For
Flat Market – But Harder For Sellers
North Texas home prices aren’t falling. Median close price in Collin, Denton, Fannin, & Grayson Counties is exactly where it was a year ago. What’s changed is how sellers get there. Concessions to buyers have roughly doubled, both in how often they happen and how much they cost.
Does your Down Payment Attract The Seller?
Here’s the truth: sellers don’t care about your down payment number. They care whether your lender is going to actually fund the loan without drama. A big down payment on paper means nothing if it doesn’t match what your lender approved in writing.
The real upside to putting more down isn’t impressing anyone. It’s avoiding PMI, lowering your monthly payment, and paying less interest over time. Put down what your lender says you need. Not what sounds impressive.
Learn To Adjust your Real Estate Viewpoint
The...
Take a closer look at the home’s foundation before buying, says Matt Stock, president of U.S. Waterproofing, based in the Chicago area.
An undisclosed structural foundation repair could leave a new buyer facing a price tag of $20,000 or more.
“We’ve seen foundations sink 8 inches,” says Stock. “That was a $150,000 repair for the homeowner.”
Stock offers the following tips on how to detect foundation issues on your own and when to call in an inspector for further investigation:
1. Does it smell like mold or mildew? A foundation leak could be the cause.
2. Look for cracks in outside foundation outside and cracks in brickwork. Do you notice a leaning or tilting chimney?
3. Investigate the driveway and garage door too as well as the concrete patios looking for cracks as well.
4. In the basement, are there signs of water damage (e.g. peeling paint; chalky deposits left after water dries)?
5. Do doors or windows stick when opening/shutting? That is a tell tale sign of foundation damage.
If you suspect any issues, be sure to have a licensed home inspector do a thorough inspection of the foundation.
“The last thing we want people to go through is a surprise $30,000 foundation repair charge upon moving into their dream home,” Stock says.
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This Real Estate journey is all about YOU. I know this, and treat you with respect & the best service you could ask for. Let's talk soon about what you need.
Serving North Texas:
Collin • Grayson • Hunt • Fannin • Rockwall • Cooke counties and more.
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