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Collin County Housing Market Could Be Deflating

July 6, 2018

When it comes to real estate value, my dad used to say "what goes up, must come down" and that, according to Trulia, is the current case of Collin County. 

NBC 5 reports Supreme Lending rep Rodney Anderson spoke of North Texas house prices saying, "last year, listing prices continued to skyrocket and sellers in Collin County were making a killing."

Now, Anderson says, "This is especially true if a city has experienced fast and extreme growth, like Frisco. Home listing prices have plateaued for homes $400,000 and above. These homes are sitting on the market a little bit longer, and I'm even seeing some sellers negotiating closing cost for the first time in a long time."

NBC 5 reports a high home inventory and more budget conscious buyers are the reason for the gradual shift.

Anderson says, "people still have a lot of equity built into their homes. This is good news for those first time home buyers who have felt like they have been in a big disadvantage for several years. Now those first time home buyers should go out looking. Those move-up buyers should go out looking and I think that people will finally get an idea that some deals are being made for the first time in a long time."

In addition, according to NBC 5, experts say we are not heading into a housing bust. However, houses that sold far above normal value are experiencing a "price correction."

My dad passed away on Sunday/Mother's Day 2016, and before so, he and I spoke about North Texas housing prices. He told me to be patient versus being in a hurry to buy. Over the years, I have learned my dad was often correct concerning many financial matters. I am taking your advice dad, and patiently wait. Love you, miss you, and rest in peace, daddy... :).