The Inaccuracy of Zestimates

Where to go on Zillow to find the accuracy in your area of Zestimates and just how inaccurate they truly are

2013 Last Quarter Predictions

We are about to reach October for 2013 and wrap up this year that has seen a huge turnaround in the housing market. So, what do the last few months have in store for the local Collin County market? Here are a few predictions that I am foreseeing based upon a few trends.

1. Buyers will continue to push our market appreciation. So far Collin County has seen a 9.5% rise in the average sales price. We will probably hit under 11% by the end of year.

2. The inventory will rise to almost normal levels. Sellers are still putting there homes on the market even when the market usually cools off so this will move inventory levels back up to almost normal. We started the year almost 30% down and that is down to about 20% down.

3. Interest rates will continue to rise but at a slower pace. We started the year in mid to high 3% range and now up to 4.5 to 4.75% when the Fed quit buying bonds. They came out last week and said they will begin buying those treasury bonds and this immediately caused a dip. I believe with the housing market still hot banks will allow them to rise to low 5’s so they can make the money on rates they have lost over the last few years.

4. Builder costs will remain the levels they are now due to lowering gas prices and building materials remaining level. Also, when is the last time you heard of builders reducing their costs?

These are a few of my predictions for the last few months. Could they be wrong? Of course. Please feel free to let me know your thoughts. Love to talk housing.

Please feel free to email me at charden@remax.net or call me at 972-396-9100 if you have any questions or are interested in buying or selling a home in Collin County