What Does a 29% Increase Mean for You?

ATTENTION NAVARRO COUNTY HOME & PROPERTY OWNERS!!

This is valuable information that you need to know!

Navarro County home and property owners have an excellent financial opportunity NOW!

If you look at the graph below, based on MLS sales data, this shows you the average closed transaction amount in Navarro County for the last 10 years & where we are today in 2021. From 2011 to 2016 we had an overall average sales price of $130,000. We started seeing an increase in 2017 but saw a HUGE jump in the past 18 months. YOU GAINED 29% potential value from the 2019 average to today! Today's average closed transaction sales price is up to $212,000. The National Association of Realtors stated, "The median sales price is up 17.2% year over year, and inventory is down 1.2 months for March 2020". Based on the stats below (MLS data from closed transactions in Navarro County from 2011 to current 2021) Navarro County is trending ABOVE the National Average.
So what does a 29% increase mean for you as a property owner? Let's chat about that for a second and let me share a hypothetical scenario so this is all "clear as mud". Say I met with you in March of 2019 to offer a complimentary (FREE) property evaluation. At that time, I would have reviewed your property and reviewed comparable sales to assess the current value of your property. And I told you that your property could be listed & sold in that market (in March 2019) for $100,000. Now let's say you called me back out today to assess the same property, assuming you maintained the property and kept it in good condition. That same property, based on today's stats, has the potential to list and sell for $129,000. So basically, you have the opportunity to put an extra 29% in your pocket compared to what I could have done for you in 2019!

THAT IS A HUGE INCREASE!

As a homeowner you may be thinking.... well 29% increase in net proceeds sounds great but can I really afford to buy a home in this crazy market? Here's the deal.... in 2019 the year closed out with interest rates being close to 5%. See Stats below from Freddie Mac Primary Market Survey that was published on NAR. Now I am no mortgage guru or expert, but I just happen to be married to an awesome mortgage guy. So lets compare a 2019 mortgage with 2021 mortgage. Say you bought a $200,000 home in 2019 when interest rates were at 5%. Based on a 30 year loan with a 5% down payment, your monthly payment (that includes principal, taxes, and insurance) would have been $1,217. And for the life of the 30 year loan, assuming you made no extra payments, your total interest paid is approximately $178,000. So add that with the amount you financed in 2019 and your total paid in amount is $368,000 at the end of the loan in 2049. Now lets consider the same loan today with interest rates at an average of 3%. Based on a 30 year loan with 5% down payment, your monthly payment (that includes principal, taxes, and insurance) would be $1,001. And for the life of the 30 year loan, assuming you made no extra payments, your total interest paid is now only $99,000!!! So add that with the amount your financed in 2021 at 3% and your total paid in amount is $289,000 at the end of the loan in 2051.

Did you catch that??? With interest rates being nearly 2% lower, a $200K home purchase actually cost you $79,000 LESS than it did 2 years ago!

So what do you need to do with all this information? Well as a property owner I would look at the net proceeds from the potential sale of the property as realize that this market WILL CHANGE, pricing will eventually level back out. But right now, the timing is excellent and we are showing a 29% potential increase in the proceeds of the sale of your property. And though list prices are higher, interest rates are low enough to more than compensate for the sale price increase. It's a WIN WIN situation! You can win on the sales side and win on the buy side.

The other thing I hear from sellers, "well where will I go when you sell my house?". Here is my answer, if you can make an additional 29% by selling today would it be worth it to rent for a while until I find you the perfect home? And since the buying market is so competitive for buyers, would it be worth it to sell today, make an extra 29% on your sale and then be able to make an extremely competitive offer on the next home since you no longer have to write your offer as contingent on the sale of your current home? I have solutions to offer you, I have buyers that will pay you CASH for your home and allow you to lease it back until you find your next home.

If you are vaguely curious or have even slightly considered selling a home or land, CALL ME TODAY @ 972-533-5120 and lets talk about your options. Allow me to do a FREE walk thru of your property to assess the value. I will equip you with valuable information about your property's potential value that will allow you to make a wise decision. My approach is simple, my tactics are pressure-free, my marketing, knowledge and skills are robust! I believe that EVERY real estate transaction should be exciting, comfortable, stress-free, transparent, and informative FOR EVERY CLIENT! I have a team of people in place to make sure that happens!