The real estate market is in a constant state of flux. One year, it’s the perfect buyer’s market. But the next? It’s a seller’s market. In order to successfully buy a home or sell your old house, you need to have a better understanding of the real estate market here in North Dallas. You need to know the average prices that homes are selling for in the area, which can rise and fall with each month. Of course, then there are neighborhood factors, too. Each neighborhood has its own real estate market in place. The more you understand, the more money you can make by selling your house.
The Real Estate Cycle
The real estate market is cyclical. It follows four distinct phases that fluctuate throughout the year and by the decade. As we said, it’s a constantly changing market.
- Phase 1: Recovery – During the recovery phase, the real estate market is on the come-back from its most recent downturn. This is one of the best times to purchase real estate.
- Phase 2: Expansion – During the expansion phase, real estate agents and investors are in full swing. Then, prices are on the rise, too.
- Phase 3: Hyper Supply – During the hyper supply phase, the market is in a “boom.” The prices for homes are skyrocketing, new construction is everywhere, and everyone wants to buy real estate.
- Phase 4: Recession – During the recession phase, the real estate market is beginning to collapse. It will be tough to sell a home and expensive to buy one.
Real Estate Investors
You don’t need a degree in business, finance, or even vast experience in the world of real estate to understand the market in Dallas. Instead, you just need to know a real estate investor or two. These experts have their finger on the pulse of the real estate market in the area. They know what phase the market is currently in, when to sell, and how much to sell for at all times.
So, when the time comes to sell your house, it’s often best to work with a real estate investor. You won’t be pushed or pulled in numerous directions. You’ll receive a straight-up, honest answer regarding the sale of your home. You’ll receive a fair price – even during a downturn period in the real estate market.
Take advantage of the real estate market in North Dallas with D&R Home Solutions. Give us a call for a quick cash offer on your home at (214) 494-6222!
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