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Latest update on the Collin County Texas Real Estate market 8/29/2024
Darrell Self is your Collin County Texas real estate expert. If you are looking to buy, sell, rent a home in Plano Texas, Frisco Texas. Allen Texas, Little Elm Texas, Prosper Texas, Mckinney Texas, Richardson Texas, Luca Texas,Parker Texas,Fairview Texas, Lavon Texas, Wylie Texas, Princeton Texas, Anna Texas, Melissa Texas, Farmersville Texas, Murphy Texas, Blue Ridge Texas,Nevada Texas, Lowry Texas, Weston Texas, New Hope Texas, Saint Paul Texas, Westminister Texas, Celina Texas, Royse City Texas, Sachse Texas. You need an expert to guide you as you relocate to the Dallas Texas area or looking to make a move and already live here.
The market is changing with fluctuating interest rates , the shadow inventory is building what lies ahead? The war in Ukraine and now Israel as well. Everyone is talking about the FED cutting rates 3 times in 2024 up to .75 on the overnight rate, however , they are not talking about the part where the FED said this is NOT a plan but a viewpoint of the participants at a point in time. And they also said inflation is above the target rate of 2% so that leaves the door open for more rate hikes. The mortgage rates have taken a move up recently ,sellers will potentially need to give more concessions so price the home right int he first place. Will this lead to less price reductions or less seller concessions? Gas and Oil prices are rising where is inflation heading?Sellers homes are sitting longer , buyers have fatigue due to multiple offers over list and losing out. You must price the home correctly and have in move in ready as buyers are now more picky with rates where they are and may go. Listen to your agent when they tell you what to market the home at. With now 1000 people a day moving here up from 365 a day the last few years you can see it on the roads this is what is driving demand for the housing market here. Janet Yellen says rates will stay high for longer now due to deficit spending. Update the stock market fell mortgage rates have fallen some there may be an emergency fed cut lets watch!
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