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2010 Year End Report

I hope your New Year is off to a good start.  With holidays behind us, and spring just around the corner, it seems an appropriate time to recap the 2010 real estate market in Watters Crossing and take a look at my (murky) crystal ball for what 2011 may hold.

As you can see, 2010 saw a significant increase in the ASF price compared to the last 3 years, as well as a nice drop in the DOM.  While the total number of sales was down from recent year, the 4th Quarter saw a good level of activity compared to 2009 and 2008 which bodes well, in my opinion, for activity this spring.  While unemployment numbers are still high, layoffs have decreased, and job creation, especially here in Texas, has moved into positive territory on a net basis.  Interest rates have moved up in recent weeks from 40 year lows, but are still excellent in relative terms.  In a nutshell, the recent trends are encouraging, and I look for further improvement in 2011.

A word of caution: if you are thinking of selling your home this year, keep in mind that buyers are being very picky–if your home doesn’t show well and isn’t priced appropriately, the odds are good that it won’t sell; such was the case for 11 Watters Crossing homes in 2010.  While there are few distressed sales in Watters Crossing proper, there is no shortage in the immediate area, and you don’t want to compete with those houses on price.  That being the case, your home needs to be fresh, clean, uncluttered and updated to justify a higher price.  Keep that in mind if you plan to sell your home this year.  I hope you’ll also keep me in mind–I’ve helped over 130 Watters Crossing homeowners sell their homes, and I would love to help you as well.

(*weighted average for yearly totals)

Best Regards,

Will Richardson