WHAT IS YOUR HOME WORTH?
The state of the Farmers Branch 2010 single-family real estate market continued its decline from a bad 2009. The average sales price for single-family homes in Farmers Branch in ’10 was $148,569 which is almost the same as ’09 average price. However, the number of homes sold in ’10 is down by over 12% to only 211 homes. The inventory, or number of homes “For Sale,” is also down, but the Average Days-on-the-Market for a home is up to 81 days average for the year.
There are some faint signs that the Spring market may be slightly better. It is always hard when one is in the maelstrom to know exactly when the bottom has been hit. In the larger picture of Texas – population continues to grow and signs of job growth are appearing. Texas is poised to be one of the states leading the housing recovery. Farmers Branch is fortunate to not have a vast supply of foreclosed properties that need to clear the market before “normalcy” can prevail. Interest rates are still extremely low and should be a factor in producing home sales for well qualified buyers.
When the housing market is on a roller coaster ride, experienced real estate professionals are more necessary than ever. Having practiced real estate during the bust of the ‘80’s, the B’s have no fear that the housing market will survive this “down turn.” It takes more determination, persistence, and more innovative thinking to accomplish the goal of selling your property. The only way to really know the potential value of your home is to have the B’s complete an Adjusted Price Comparison and a Comparative Market Analysis. If you are thinking about selling, the B’s will be happy to assist you with analyzing changes to your home that will potentially increase its marketability for the least cost.
The B’s – Cassie & Gene Bledsoe are among the top agents in the Metroplex and for seven years in a row, they have sold more homes in the Branch than any other agent. In this difficult market, please consider using the B’s to assist with your next real estate transaction. They know and love Farmers Branch and are anxious to assist you! Please give them a call.
