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Collin County housing market is turning around
10:07 AM CDT on Thursday, May 1, 2008
COLLIN COUNTY -- The Mortgage Crisis means more foreclosure and houses staying on the market longer. But in Collin County things are turning around, and fast. Why? Realtors are working it. Giving deals, incentives, even bonuses, to get you sign an offer or sell a house.
The headlines read one way, but the story is changing in Collin County.
Collin County's association of realtors says creative agents are stimulating a dull market. One flier says that they will sell your home in 120 days or it's free.
Mitzi Gray is encouraging homeowners like Debbie Hodges to sell out and buy bigger. “That's what's keeping us alive right now,” said Gray.
And Hodges says she's getting a good deal, if her home doesn't sell fast she doesn't have to pay the 3 percent commission. “There are a lot of houses out here for sale, but we feel like ours is a good deal,” said Hodges.
And Bob Baker with the realtor association says it's working. “Somebody flipped a switch. We're seeing an enormous increase in buyer activity,” said Baker.
The average price of homes is up from $169,000 last month to $180,000 this month, and that's up from this time last year too.
And more people are willing to test out the market.
In February 2,885 homes were for sale. Now, thanks to realtor deals, the association says the number is up to 3,483. An amount, they call, healthy and good for the economy.
“In a market that's a little more challenged, agents get back to the basics. When you're in a hot market, agents get lazy,” said Baker.
So now brokers are upping their marketing game, and lowering prices.
“We are pricing it to sell,” said Hodges.
Hopefully within 120 days.
E-mail sslater@wfaa.com
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