Best Time to Buy in Past 5 Years
Best Time to Sell in Past 5 Years
Sort of sounds like I am not truly clued into the market place?
Best time to buy. Any of our prospects who buy right now, have the awareness that pre-owned homes in Collin County are appreciating at a rate of approximately 12% per year. (That means that a pre-owned property, purchased at a price of $200,000 could increase in value by $24,000 over the coming one year term.) By comparison, new homes sold in Collin County are appreciating at a rate of about 20% per year or greater. A new home purchased in Collin County at a price of $200,000 may be worth $250,000 – at the end of one year from contract date. If you are considering the purchase of a home today, know that we have not seen such appreciation in value at any time during the past 5 years.
Best time to sell. Home values are up from 12% to 20% over their values one year ago. This means that thousands of Collin County owners have a net equity in their home today, where they had zero net equity one year ago. An example of a home owner with a market value of their home (March 2013) of $200,000 – with a mortgage balance of $185,000 would have realized zero from a sale, after real estate commission and seller closing costs.
But today, with an appreciated value of $230,000 a sale of such owner’s property might provide such owner with a net equity of $25,000 or more.
Now is the time to buy. We can help you with choosing just the right home to purchase.
Now is time to sell. We can get you a higher price than at any time during the past 5 years.
Joe C. Neel Keller Williams 214-773-2246 Look4dallashomes.com