Local Market > Who is Growing Equity in Frisco TX Homes

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Short sales and foreclosures hit the greater Frisco TXHomes market just like most of America. In the short sale transactions, homeowners are selling their properties for less than what were owed. Banks are flooding the markets at reduced prices to move their inventories off their books.

I am often asked by Home Sellers in the Frisco TX area. "Should I sell now, or should I wait?"

My answer is always going to be, "Depending on what you want to get out of the process".

Sometimes, it also depends on whether you are happy with the appreciation and equity you have acquired over the years. It's true that some markets have created some artificial depressed prices, this fact cannot and does not apply across ALL of America and at ALL price points.

These are some profiles of possible Sellers who could be sitting on Appreciation and Equity in the greater Frisco TX homes for sale(This general information is deemed correct but please consult a local real estate expert for your home market evaluation):

First-time homeowners or down-sized property owners whose property values are less than $180,000.
Homeowners who have put in some sweat equity to improve their property conditions:
    --> Owners that did most the home improvement themselves
    --> Installed granite countertops/ back splash, stainless appliances
    --> Hardwood floors
    --> Formal dining conversions to study/ office (with a door for privacy and quiet time)
    --> Patio cover
    --> Great landscaping and curb appeal
Owners that took out 15-year mortgages instead of 30-year notes.
Sellers that previously bought pre-existing instead of new.
"New" seems to have lots of effects on pricing. 4 years later, if builders are still building in the community, it makes it a more challenging sale for current sellers. Builders are more experiences at selling houses when comparing to sellers. Builders can take a bigger financial hit - when necessary. They have incentives to purchase. A larger discount or free upgrades on buyer's wish lists.
Here in the Frisco TX real estate market, there seem to be at least a $20,000 or 10% premium for the option of "building" instead of buying pre-existing. The premium of being able to choose the kitchen cabinets, wall colors and selecting appliances.

For the North Dallas TX homes for sale, if you had purchased a house back in 2000 for $150,000, your property is worth at least $250,000 today despite the market condition now. For the Plano TX real estate market, if you had purchased a house in 2003 for $180,000, your property may be valued in the low $200,000 in today's prices. In the Frisco TX real estate market, if you had purchased your starter home for $160,000 in 2006, chances are small for nominal appreciation or equity. Frisco TX is undergoing a rapid growth. Many home builders continue to build here. Hence, Frisco sellers today need to compete with home builder, short sales, foreclosures and other seller neighbors.

Every property is has its own market evaluation. Find out more from your local real estate agents for the right pricing.

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Loreena Yeo - Realtor(R) in Frisco TX | Broker
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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.

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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.

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