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In real estate, there are many statistical information you can obtain to understand the real estate market trends in your area. The average sales price is the sum of all total sales over the number of homes sold. The median Frisco TX housing market trendssales price is the mid point of the number of sold homes. Half the sold homes sold for more than that price and half sold for less. The average home sale is highly affected by the extremes on the high and low ends whereas the median sales price is a "tighter" number and should indicate a less-influenced number. The industry have used the median sales price to determine real estate market trends rather than average sales price. Hence, the Case-Shiller Home Price Index also uses the median sales price (instead of average sales price) to determine market trends.

The Dallas metroplex is a part of the Composite-20 of the Case-Shiller Home Price Index and it includes Collin, Dallas, Denton, Delta, Ellis, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant and Wise counties.

The real estate market trend prediction almost always come up in conversations when working with buyers and sellers. The Million Dollar Question: Has the market bottomed out yet?

No one really knows. When we do know, it is probably too late. Historical data measured when the economy "bottomed out", employment typically showed signs of recovery 6 months after the bottom, existing home sales reported 4 months of improvement and new home starts showed 8 months prior to the "bottom". Hence, when buyers and sellers want to "time the market" - it is typically too late.

There are many new reports that indicated that the Housing Starts rose in January 2010, existing home sales are also doing the same, not only in the greater Frisco TX areas but all over the country. It is not just true what you may read in the news, but my personal business have felt the same. For the longest time, my clients would not look at new home sales simply because the attractive prices of foreclosures and short sales just do not make sense. The consumers are feeling more comfortable about job security - not much looming lay offs in the future and they want to purchase the home of their dreams ie. designing them and selecting features and upgrades they want in their new homes. New home builders are still offering many incentives and attractive packages in the remaining winter months of 2010.

Even the foreclosure and short sales housing prices are inching upwards.

The Window of Opportunity to purchase is NOW. All the right environment for a perfect buying session. Even as a Seller, because NOW is the perfect buying session for buyers, you want to list your home on the market now to generate the largest pool of potential buyers for your property.

Stay tuned for Year 2009 Home Sold Market Reports for the greater Frisco TX areas.

 

 

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Loreena Yeo - Realtor(R) in Frisco TX | Broker
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Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #9001154.

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Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

 

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX

 


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