I am asked by Buyers and Sellers almost every day about the  market in Dallas.   Reading the national news with splashy headlines depicting doom and gloom in  the  housing market, you can’t help but think that the sky is falling.   Well, I’m here to tell you that it is not all doom and gloom.   I ran across a positive  article (for a change) about homes sales in Dallas in the Dallas Morning News today that pretty much sums up the points Realtors have  been telling Buyers and Sellers all year.  

First of all, the sky is not falling.   Are homes sales down this year compared to record sales last year?   Yes.   Why?    The average person  reading the headlines can be  understandably  confused about whether this is a good time to buy or sell.   The best solution for confusion is education.   Learn as much as you can about your local market.   Talk to an experienced Agent who can help decipher the numbers.    

For Buyers, high inventory means a lot of properties to choose from.   Many homes right now are well-priced, and interest rates remain low.   If you have good credit, a 10% down payment, and verifiable income, you should be able to qualify for a home loan.   If any one of these three criteria are shaky, speak with a mortgage professional about options you may have and what loan programs might work best for you.  

For Sellers, it’s time to get down to business.   Speak  with a knowledgable Agent  about what your home is worth.   Be realistic about  pricing your home because if you aren’t, the Seller down the street will be.   Do the things your Agent suggests.   If your Agent has not given you a list of items you need to take care of to get your home sold, find one who will.   It may cost you a few dollars up front, but the payoff will be a shorter time on the market, translating into more money in your pocket than if you sit on the market for months and  months, only to  end up taking the last lowball offer that comes in.

In the end, do your homework.   Talk to a professional Realtor or Mortgage Lender  about your options.   Don’t hesitate to ask questions, and don’t be afraid to jump in.   The water in Dallas is fine.