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Property Condition, Upgrades and Home Prices in Frisco TX

Frisco TX has certainly turned into a seller’s market, especially in the lower price ranges, less than $ 750,000. Homes sell very quickly and often times, with multiple offers within the first 1-2 days. When this happens, here in Frisco TX, we can say that the homes in Frisco are in great demand. Their property conditions warrant the list prices.

With the interest rates as low as they are, at one point where buyers could not afford a home over $ 300,000, today becomes very achievable when interest rates went from 5+% to mid-3%s.

Here in Frisco TX, homes are highly desirable because of its value, affordability and the age of the homes are relatively “newer”. However, not everyone could afford a brand new home, which in Frisco TX these days are hedging over $ 350,000. Hence, home buyers who may still want to purchase a home in Frisco TX may have to look in the pre-existing market.

9817Belfort 22 Property Condition, Upgrades and Home Prices in Frisco TX

There are 2 schools of thought when it comes to dealing with property conditions and home pricing:

More often than not, sellers opt for (2). They understand that it would be less hassle for them, or even allowing the buyers to pick their own choices. However, in today’s Frisco TX home buyers, they either do not have the discretionary funds to make the upgrades after closing, or they want a move-in ready home because they live a busy lifestyle, with no time for repairs and remodeling.

At the same time, the sellers may not be able to get back ALL the money “invested” into the home for the remodeling. Some sellers may not have the required funds to upgrade.

Such dilemma.

In this case, I usually tell the sellers, unfortunately, they will have to make those repairs. Otherwise, there is no telling how much price reduction is necessary or how long the house will sit on the market.

What Next?

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