Top Real Estate Agents In Royse City, TX

Work with the best agents in your neighborhood.

Our agents are among the most experienced in the industry, so we know how to help you win in today's market.

Top Real Estate Agents In Royse City, TX

Work with the best agents in your neighborhood.

Our agents are among the most experienced in the industry, so we know how to help you win in today's market.

Why are Legacy Lanes agents the best?

We know the market inside and out

Our agents have local market expertise and can help you on all real estate aspects.

We focus on customers, not leads

At Legacy Lanes, our agents are free from the task of seeking new clients, allowing us to dedicate our full attention to your needs.

We deliver happier customers

We conduct customer surveys to verify that our agents are providing outstanding service.

Find homes first. Tour homes fast.

We update our listings every two minutes to ensure you're promptly notified when the ideal home becomes available. Additionally, our on-demand tours enable you to view homes at your earliest convenience.

Sell for top dollar and save thousands on fees

Our experienced agents have the expertise to price, market, and sell your home at the optimal price. Furthermore, our listings attract 70% more buyers than typical listings. All of this comes at just half the listing fee commonly charged by other brokerages.

Talk to a local Legacy Lanes agent

Take the first step by chatting with an expert local agent—there’s no pressure or obligation.

I agree to terms & conditions provided by the company. By providing my phone number, I agree to receive text messages from the business.

Why are Legacy Lanes agents the best?

We know the market inside and out

Our agents have local market expertise and can help you on all real estate aspects.

We focus on customers, not leads

At Legacy Lanes, our agents are free from the task of seeking new clients, allowing us to dedicate our full attention to your needs.

We deliver happier customers

We conduct customer surveys to verify that our agents are providing outstanding service.

Find homes first. Tour homes fast.

We update our listings every two minutes to ensure you're promptly notified when the ideal home becomes available. Additionally, our on-demand tours enable you to view homes at your earliest convenience.

Sell for top dollar and save thousands on fees

Our experienced agents have the expertise to price, market, and sell your home at the optimal price. Furthermore, our listings attract 70% more buyers than typical listings. All of this comes at just half the listing fee commonly charged by other brokerages.

Talk to a local Legacy Lanes agent

Take the first step by chatting with an expert local agent—there’s no pressure or obligation.

I agree to terms & conditions provided by the company. By providing my phone number, I agree to receive text messages from the business.

Discover Your Next Home Chapter

Essential Insights for Making Informed Buying and Selling Decisions

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Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?

March 01, 20243 min read

While mortgage rates have improved since last fall, and there's a positive outlook for further reductions in 2024, the hurdles to home affordability remain significant.

Despite a slight dip in mortgage rates and a cautiously optimistic outlook for further declines, a combination of still-elevated rates, high home prices, and a scarce housing inventory continues to make homeownership particularly challenging, especially for first-time buyers who face pessimism about affording a home as 2024 starts.

2024 Housing Market Outlook

2023 left many potential homebuyers disheartened. Spiking mortgage rates and home prices, along with skyrocketing average monthly mortgage payments, crafted an environment where affording a home became increasingly difficult.

Yet, there's hope that 2024 might offer better buying opportunities, albeit selectively.

"Expectations are set for a more active spring home-buying season compared to 2023, despite ongoing inventory constraints," Sam Khater, Freddie Mac's chief economist, stated, indicating that home prices are likely to keep rising steadily.

Conversely, some predict that the housing market might not see significant activity in 2024 due to many homeowners holding onto low-rate mortgages, which limits inventory and pushes prices up.

Jiayi Xu of Realtor.com suggests that the large fraction of homeowners enjoying rates below 4% may delay selling, awaiting even lower rates.

Industry consensus suggests that the Federal Reserve's rate-hiking days are over, aiming to curb inflation. With the federal funds rate holding steady and anticipated cuts in 2024, mortgage rates might indirectly benefit.

Despite potential rate reductions, experts foresee ongoing home affordability challenges due to high demand and limited inventory.

Mark Fleming of First American Financial Corporation predicts a "flat stretch" ahead, suggesting that if the 2020-2021 market was overheated, and 2023's was too cool, 2024 might not hit the 'just right' mark either.

Prospects for a 2024 Housing Market Recovery

A recovery hinges on several factors, including a significant rise in home inventories to alleviate price pressures, according to Keith Gumbinger of HSH.com.

With mortgage rates showing signs of cooling, entering below the 7% mark in 2024, there's cautious optimism. However, a balanced approach to rate decreases is advised to prevent erasing inventory gains with a surge in demand.

Gumbinger notes that rates stabilizing in the 4%-5% range could gradually steer the market back to conditions seen between 2014 and 2019.

Kuba Jewgieniew of Realty ONE Group remains positive about a market upturn in 2024 as rates settle around 6% or lower.

2024 Housing Inventory Outlook

The imbalance between demand and supply is expected to persist, with significant inventory increases unlikely until mortgage rates drop further.

Housing stock remains critically low, particularly for entry-level homes, maintaining high prices. However, improved conditions for home builders and a slight increase in building permits offer some hope.

Real Estate Sales Trends

The market showed signs of a possible thaw, with existing home sales dipping but potentially bottoming out as mortgage rates decline and inventory is anticipated to grow.

New home sales have attracted buyers deterred by the resale market's scarceness, with prices for new homes closing in on those of existing homes.

Pending home sales, an indicator of future sales, have seen an uptick, suggesting a positive start to the year.

Home Affordability and Market Stability in 2024

With mortgage rates receding from their 2023 peak, there's cautious optimism for easing the affordability crunch, underscored by a significant jump in mortgage rate optimism among consumers.

While some market regions have seen price adjustments, the overall risk of a market crash in 2024 remains low due to limited supply and solid homeowner equity foundations.

Foreclosure activity is rising but remains below pre-pandemic levels, with a full return to 2019 numbers not expected until mid-to-late 2024.

Optimal Timing for Home Purchases in 2024

Determining the best time to buy hinges on personal financial readiness rather than market timing. Prospective buyers are advised to focus on finding a home that meets their needs and budget rather than waiting for market conditions to improve.

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Whether you're a first-time homebuyer, a seasoned investor, or relocating to the DFW area, we're here to help you achieve your goals. Count on us to be available whenever you need us, providing the support and answers you deserve. Let us be your trusted partners in your real estate journey. Contact us today to get started!

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Frequently Asked Question

What is the role of a real estate agent?

A real estate agent acts as a middleman between buyers and sellers in real estate transactions. They help buyers find homes that meet their criteria and negotiate the terms of the purchase. Similarly, they assist sellers in marketing their properties, finding qualified buyers, and negotiating the best price.

How do I find the best real estate agent in Dallas Fort Worth area, TX?

To find the best real estate agent in Dallas, TX, consider the agent's local expertise, past client reviews, and proven track record. We stands out with our in-depth market knowledge and personalized, empathetic approach. Reach out to us and experience the difference!

What should I consider when buying or selling a home?

When buying or selling a home, it's crucial to consider factors such as location, price, condition, financing options, and market trends. Working with a reputable real estate agent can help you navigate these considerations and make informed decisions.

How long does the home buying or selling process typically take?

The duration of the home buying or selling process can vary depending on various factors, such as market conditions, financing, and negotiations. On average, it can take anywhere from a few weeks to a few months to complete a real estate transaction.

Is it necessary to hire a real estate agent when buying or selling a home?

While it's not legally required to hire a real estate agent, having professional assistance can greatly simplify the buying or selling process. Real estate agents have the knowledge, experience, and negotiation skills to guide you through complex transactions, ensuring that your interests are protected.

Can a real estate agent help me find a rental property?

Yes, real estate agents can also assist you in finding rental properties. They have access to a wide range of listings, and they can help you find a rental that meets your budget, location preferences, and other criteria.

How much does it cost to hire a real estate agent?

It is FREE if you are on the buying side due to the way the transaction is set up in most cases. When on the selling side, the cost of hiring a real estate agent is typically paid as a commission based on the final sale price of a property. The commission percentage may vary, but it's typically around 5% to 6% of the sale price. However, these terms can be negotiated with the agent before signing any agreements.

But you will save with a listing fee as low as 1% when you buy and sell with us. You’ll pay half the fee other brokerages often charge.

Can a real estate agent help me with property investments?

Yes, real estate agents can provide valuable insights and assistance when it comes to property investments. They can help you identify investment opportunities, analyze market trends, and provide guidance on maximizing your investment returns.

Frequently Asked Question

What is the role of a real estate agent?

A real estate agent acts as a middleman between buyers and sellers in real estate transactions. They help buyers find homes that meet their criteria and negotiate the terms of the purchase. Similarly, they assist sellers in marketing their properties, finding qualified buyers, and negotiating the best price.

How do I find the best real estate agent in Dallas Fort Worth, TX?

To find the best real estate agent in Dallas Fort Worth area, TX, consider the agent's local expertise, past client reviews, and proven track record. We stands out with our in-depth market knowledge and personalized, empathetic approach. Reach out to us and experience the difference!

What should I consider when buying or selling a home?

When buying or selling a home, it's crucial to consider factors such as location, price, condition, financing options, and market trends. Working with a reputable real estate agent can help you navigate these considerations and make informed decisions.

How long does the home buying or selling process typically take?

The duration of the home buying or selling process can vary depending on various factors, such as market conditions, financing, and negotiations. On average, it can take anywhere from a few weeks to a few months to complete a real estate transaction.

Is it necessary to hire a real estate agent when buying or selling a home?

While it's not legally required to hire a real estate agent, having professional assistance can greatly simplify the buying or selling process. Real estate agents have the knowledge, experience, and negotiation skills to guide you through complex transactions, ensuring that your interests are protected.

Can a real estate agent help me find a rental property?

Yes, real estate agents can also assist you in finding rental properties. They have access to a wide range of listings, and they can help you find a rental that meets your budget, location preferences, and other criteria.

How much does it cost to hire a real estate agent?

The cost of hiring a real estate agent is typically paid as a commission based on the final sale price of a property. The commission percentage may vary, but it's typically around 5% to 6% of the sale price. However, these terms can be negotiated with the agent before signing any agreements.

But you will save with a listing fee as low as 1%. When you buy and sell with us, you’ll pay half the fee other brokerages often charge.

Can a real estate agent help me with property investments?

Yes, real estate agents can provide valuable insights and assistance when it comes to property investments. They can help you identify investment opportunities, analyze market trends, and provide guidance on maximizing your investment returns.

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