If you are actively participating in the Frisco TX real estate market - whether if you are taking positions as Buyers or Sellers, I have some exciting news for you.Last year around this time (June 2007), the Buyers are out there looking at properties. However, the truth is that they are cautiously looking. Many are holding off on actually writing contracts and negotiating while this year (June 2008), buyers are out there actually BUYING!!!
Why is this?
Many inventories in the 4th Quarter of 2007 moved - and at amazingly attractive prices. For illustrative purposes, over 4,000 square foot homes sold for around $200,000. Many of these are foreclosed homes owned and sold by banks after they took possession. These homes took over 6 months to sell because the banks were pricing them around $250,000 6 months prior to selling. Thus, these have motivated buyers to actually placed the offers and successfully purchasing them.
Foreclosure homes continue to sell in the Frisco TX real estate market. However, not all foreclosure deals are good deals. Many foreclosed homes are dirty and nasty with animal and children stains. Some properties have been vandalized - often by the angry homeowners themselves who damage the properties right before they leave. Some removed the appliances while others break walls and windows. If you can see past that, then perhaps may be bought at attractive prices.
ALL buyers asked and discussed foreclosures with me as their realtor. Everyone has intentions to purchase foreclosures. However, a foreclosed home who may seem attractive on paper may not be as attractive to you as a buyer. My advice to a buyer is that you find a house that fits your needs and at a good price, it does not have to mean only limiting yourself to a foreclosure.
If you are a seller in the Frisco, TX real estate market, there is hope for you. Price your property well and staged it exceptionally, then let the Buyer's agents do their job. Houses do sell even in a Buyer's market.
