Navigating the Current Real Estate Market in Plano, Frisco, Prosper, Celina, and Surrounding Suburbs
By: Sonny Moyers, REALTOR®, Broker, The Renaissance Group
If you have your home listed for sale in the suburbs of Plano, Frisco,
Prosper, Celina, The Colony, or other nearby areas, you're likely concerned
about showing activity and the prospects of getting your home sold. In the
price range of $400K to $700K, showings are sparse, and offers are slow to
arrive. The market is even slower for homes priced between $701K and $1.5M.
While new homes might be an exception, even builders are feeling the pinch of
current market trends.
The once-brisk market has slowed significantly. Rising interest rates are
taking a toll, and uncertainty about the future is contributing to buyer
hesitation. Additionally, agents are facing new challenges with the upcoming
changes to brokerage commission rules, which will begin on August 17th of this
year.
Concerns about the Federal Reserve, the looming election, and various
international crises are weighing heavily on the market. With fewer buyers able
to qualify for loans due to high interest rates, homeowners looking to sell are
confronting a harsh reality. Macro issues like these can't always be mitigated
with price reductions and traditional strategies.
To successfully market your home today, you must be creative, make practical
improvements to your property, and work with a stellar real estate agent who
excels in marketing. Here are a few tips to help you navigate this challenging
market:
- Enhance
Curb Appeal: First impressions matter. Ensure your home
looks inviting from the outside with well-maintained landscaping and a
fresh coat of paint if needed.
- Stage
Your Home: Proper staging can help potential buyers
envision themselves living in your space. Consider hiring a professional
stager to highlight your home's best features.
- High-Quality
Photos and Videos: In today's digital age, most buyers
start their search online. Make sure your listing includes high-quality
photos and videos that showcase your home in the best light.
- Leverage
Social Media: Promote your listing on social media
platforms like Facebook, Instagram, and LinkedIn. Engage with your
audience and share updates regularly.
- Host
Virtual Tours: Virtual tours are a great way to reach a
wider audience. They allow potential buyers to explore your home from the
comfort of their own space.
- Highlight
Unique Features: Make sure to emphasize any unique
features your home has, such as a newly renovated kitchen, a spacious
backyard, or energy-efficient upgrades.
By being proactive and working closely with an experienced real estate
agent, you can improve your chances of selling your home even in today's
challenging market. If you would like other marketing ideas for stimulating
activity, comment on this Blog, and I will respond accordingly.
https://youtu.be/t8C7YRUz5Ag?si=j2Yy9x2G0F_IABkH
Visit my YouTube
channel @AREP2023, my website at SonnyMoyers.com, or send me an email at
sonny@sonnymoyers.com. I wrote the book on Real Estate Practice Development ~ RealEstateBook.org.
This blog is not intended to solicit property that is currently listed for
sale.
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