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Biggs Realty Blog

Monday, January 30, 2023   /   by Kenneth Brands

Where Will You Go If You Sell? You Have Options!

There are plenty of good reasons you might be ready to move. No matter your motivations, before you list your current house, you need to consider where you’ll go next.
In today’s market, it makes sense to explore all your options. That includes both homes that have been lived in before as well as newly built ones. To help you decide which is right for you, let’s compare the benefits of each. Regardless of which option you choose to explore, working with a trusted real estate professional throughout the process is essential.
The Benefits of Newly Built Homes
First, let’s look at the benefits of purchasing a newly constructed home. With a brand-new house, you’ll be able to:
1. Build your dream home
If you build a home from the ground up, you’ll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more. Bankrate puts it like this:

“Building means customi ...

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Wednesday, January 25, 2023   /   by Kenneth Brands

What To Expect From The Dallas-Fort Worth Housing Market

The Dallas-Fort Worth area has seen a major boost in residential home sales over the past several years, and this upward trend is expected to continue in 2023. Home prices have remained relatively stable throughout the Dallas metropolitan area and are projected to remain that way into the coming year.

In 2023, one can expect to see an increase in both first-time home buyers and those relocating from other parts of Texas or outside the state. Many people are drawn to the region for its job opportunities, which include a variety of industries—from finance and tech to energy and healthcare—and its livable cities with plenty of entertainment options. Real estate agents report that properties are typically receiving multiple offers soon after being listed on the market due to high demand for homes in DFW.

Due to this increased competition, buyers may find themselves facing bidding wars as they try to secure their dream home. To help succeed in what has become an increasing! ...

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Thursday, January 12, 2023   /   by Kenneth Brands

The Truth About Negative Home Equity Headlines

Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.

In truth, the headlines don’t give you all the information you really need to understand what’s happening and at what scale. Let’s break down one of the big equity stories you may be seeing in the news, and what’s actually taking place. That way, you’ll have the context you need to understand the big picture.
Headlines Focus on Short-Term Equity Numbers and Fail To Convey the Long-Term View
One piece of news circulating focuses on the percentage of homes purchased in 2022 that are currently underwater. The term underwater refers to a scenario where the homeowner owes more on the loan than the house is worth. This was a huge issue when the housing market crashed in 2008, but it's much less significant ...

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Saturday, December 24, 2022   /   by Kenneth Brands

What To Expect From the Housing Market in 2023

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position.
As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable.
But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the Fed bring inflation down even more and keep it there. Here’s what housing market experts say we can expect next year.
What’s Ahead for Mortgage Rates in 2023?
Moving forward, experts a ...

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Monday, December 19, 2022   /   by Kenneth Brands

You May Have More Negotiation Power When You Buy a Home Today

Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers.
And with less competition comes more opportunity. Here are two trends that may be the news you need to reenter the market.
1. The Return of Contingencies
Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or the inspection, in hopes of gaining an advantage in a bidding war.  But now, things are different.
The latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving their home inspection or appraisal is down. And a recent article from realtor.com points out more sellers are acc! ...

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