58% of Homeowners See a Drop in Home Values Coming

According to the recently released Modern Homebuyer Survey from ValueInsured58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

 

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

  1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
  2. Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.

The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.

If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.

Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.

Bottom Line

If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.

Find out how much your home is worth.

Open Houses this Weekend in #Frisco

#Frisco Open Houses for this Weekend.

There are 83 open houses this weekend in #Frisco. 15 homes are new construction. 

Thinking new? View them yet know you should be represented by a Realtor to protect your interest.

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Derrick Houston
Rogers Healy and Associates
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License #: 0592037
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72 Price Reductions in #Frisco This Week

72 Price Reductions this week in ‪#‎Frisco‬!

 

5450 Burket Dr in Starwood had the biggest reduction, 20%, down to $999,900.

If you want to know of price reductions to beat the competition before the major real estate websites, or just want to stay on top of home prices and sales in #Frisco, complete the form below or leave a comment!

74 Homes Closed Escrow (SOLD) in This Week in #Frisco

74 homes closed escrow (SOLD) last week in #Frisco. 46 of those sold in under 30-days on market!

A homes on Plantation Ln sold for 7.3% over asking price.  Keep up-to-date on homes that sell in #Frisco!

Know what is selling, when and for how much. If you own a home in Frisco, you need to know this information! 

 

Texas law requires all license holders to provide the Information About Brokerage Services Form to prospective clients.

 

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Derrick Houston
Rogers Healy and Associates
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Licensed In: TX
License #: 0592037
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91 Listings New to MLS This Week in #Frisco

91 new listings in ‪#‎Frisco‬ this week!

A 3 bedroom, 3 bath home on Sand Hill Dr has over 3,100 sq ft with wood floors, study-sunroom and covered front porch. 

Buyers and Homeowners! Stay on top of the market and get new listings in #Frisco immediately sent to you. Before even Zillow, Trulia and other real estate websites with all photos, details, school information and more!

 

What is your home worth?
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Derrick Houston
Rogers Healy and Associates Real Estate
214.385.1221
Licensed In: TX
License #: 0592037
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