Market Watch - 24 Sept. 2021

Since last week, New Listings and Properties Under Contract have decreased while Pending properties increased and Sold properties were flat.

The inversion is more pronounced this week with 476 more properties leaving the market than entering. The continued buying spree is fueled by near historic low interest rates and a realization that there’s a long-term housing shortage and home prices will increase.

The Lease Market reduced New Listings again while Pending and Leased properties were flat. The Lease Market remains inverted.

Y’all should visit one of my Open Houses! No appointment necessary. I’ve got great handouts, and we can talk about what’s happening in the market in person. Those cookies won’t eat themselves!

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com
#DFWmark #REALTOR #MarketWatch #BuyNow #LowMortgageRates #SellersMarket #SellNow #InventoryShortage #StrongDemand #LeaseShortage

Market Watch - 17 Sept. 2021

Since last week, all regular market activities have increased. However, the market remains inverted with 45 more homes leaving than entering the North Texas / Northwest Louisiana market. It’s still a strong seller’s market and loan rates are still near historic lows.

The Lease Market (below) had a nominal reduction of new listings while Pending and Leased properties increased back into inverted territory. The difference between New Listings and Leased Properties was only six properties in an area of about 6.5 million people.

Let’s meet and talk in more detail over Zoom or a cup of coffee – my treat! Call, text or email for an appointment when you or an associate wants help to sell or buy a residential property in this complex market.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #BuyNow #LowMortgageRates #SellersMarket #SellNow #InventoryShortage #StrongDemand #LeaseShortage

Calorie Charts

One pound of fat is approximately 3,500 calories. It’s good to watch calorie consumption and burn rates if health or weight control is the goal – especially before the holidays. Weight can be lost or gained through a combination of food consumption and/or exercise.

This month’s Information of Value is a handy chart that can go on the fridge as a reminder of which choices might be best for your needs. It is also available as a hyperlinked PDF for viewing, printing or download from my Google Drive (t.ly/snn8). 

Feel free to share this information with your family, friends and associates.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212 (call or text)
DFWmark.com

#DFWmark #REALTOR #calories #CalorieChart #RefrigeratorSheet #exercise #BurnRate #ThisNotThat #GoodChoices #WeightManagement

Market Watch - 10 Sept. 2021

Since last week, all activities have decreased. Even with 1,069 fewer homes Sold, the market remains inverted with more homes leaving than arriving. Strong buyer demand remains.

All activity in the Lease Market also declined. This is the first week in the last six months that more lease properties came onto the market than left. However, it is also the lowest number of Leased properties recorded during the same time.

I put together a set of trends happening in the entire North Texas Real Estate Information Services (NTREIS) market (below). The raw numbers verify that prices are very likely to continue to rise for the foreseeable future. Properties are simply leaving the market faster than they arrive largely due to near record low mortgage rates.

There is a high volume of New Listings (properties coming onto the market), but the total Inventory has been depleted via Closed Sales to the record low Days On Market. The Average Sale Prices and Median Price Per Square Foot are at (Collin County) or near (NTREIS) record high prices and on an upward trajectory absent a significant economic change.

The market will likely run away from buyers who are waiting. The prices will probably go up and the interest rates can’t remain this low forever. Serious buyers who can handle a few rejections will be rewarded with appreciation and equity down the road in this market.

I’ll have copies of this information at my open house on Sept. 12 from 1-3 p.m. at 11947 Bamberg Lane in Frisco as well as other information and treats. I’m also happy to explain these graphs in more detail over Zoom or a cup of coffee – my treat! Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market. Let’s meet and talk!

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #MarketTrends #SellersMarket #SellNow #RecordPrices #LeaseShortage #InventoryShortage #StrongDemand

Market Watch - 3 Sept. 2021

Since last week, New Listings and Sold have increased while Properties Under Contract are flat and Pending have decreased. Even with inventory gains, the market remains widely inverted.

The Lease Market gained Listings and Leased while Pending Properties decreased as a new month began.

The end of the CDC eviction moratorium may have started to work into the housing market – particularly the lease market. It should take a few weeks to notice significant differences.

The expectation is more properties will be listed for lease and sale after landlords have time to execute evictions and make property repairs. This may be tempered by the pandemic resurgence.

The lease market remains inverted with more houses leaving the market than entering. There’s still great demand for lease housing. The low Leased number most likely reflects limited inventory.

Call, text or email when you’re ready for help when you sell or buy a residential property in this complex market.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #SellersMarket #SellNow #MoreLeaseOptions #LeaseShortage #evictions #InventoryShortage #StrongDemand

HOA Laws are Changing in Texas

Texas REALTORS reports:

"Texas REALTORS® proudly supported these pro-consumer changes.

New REALTOR®-supported laws passed in 2021 bring more balance between the rights of property owners and their property owners’ associations. At least 6 million Texans are estimated to live in communities governed by property owners’ associations. This number will only increase as new communities are built across the state to meet the needs of our growing population.

Property owners’ associations are often necessary to create new housing, and they typically add value to the communities they serve.

Property owners’ associations also have significant power over people’s homes and their communities, and it is appropriate for the Texas Legislature to ensure that that power is executed with care.

The passage of monumental HOA reform legislation wouldn’t have happened without Texas REALTORS®. During the legislative process, members advocated on behalf of homeowners and homebuyers to show lawmakers the scope of the issues being faced.

Texas REALTORS® sent representatives more than 12,500 messages supporting the bill—a record-high call-for-action response!

In addition, the website MyHOAStory.com has been a great tool for collecting real-world stories from homeowner and REALTORS® about challenges they’ve faced with HOAs.

Following are changes made by Senate Bill 1588 that are effective on Sept. 1, 2021.

• FEES ARE CAPPED for subdivision information ($375), resale certificates ($75), and updated resale certificates ($75).

• TREC will create a publicly accessible CENTRAL DATABASE OF TEXAS HOAS by Dec. 1, 2021. HOAs that have filed management certificates in county records before Dec. 1, 2021 are required to file with TREC by June 1, 2022.

• HOAs are required to MAINTAIN WEBSITES with management certificates and meeting information and notifications.

• HOAs are required to FILE DEDICATORY INSTRUMENTS WITH THE COUNTY and provide certain contact information on all dedicatory instruments and management certificates.

• Property owners have new PROTECTIONS FROM NEGATIVE CREDIT REPORTING when a fine or fee is in dispute, and HOAs payment plan before reporting delinquencies.

• Prevents some CONFLICTS OF INTEREST within HOA architectural review boards.

• HOAs are barred from requiring access to LEASE AGREEMENTS and are only allowed to request tenant’s contact info and lease beginning and end dates.

• HOAs are required to SOLICIT BIDS for any contract for services over $50,000.

• HOAs are barred from prohibiting certain POOL SAFETY ENCLOSURES, the installation of certain SECURITY MEASURES on an owner’s private property, or certain RELIGIOUS DISPLAYS.

• HOA boards are required to provide members with TIMELY NOTICE ABOUT MEETINGS.

• Improves DUE PROCESS IN DISPUTE RESOLUTION and provides additional legal avenues when seeking resolution from a dispute with an HOA."

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #HomeOwnerAssociation #HOA #consumer #buyer #seller #leases #PowerShift #ResaleCertificate #DueProcess