Real estate
BY JONATHAN PERRIELLO
Talyn Provo, Douglas Elliman Real Estate team leader, talks housing Flower Mound native Talyn Provo is a real estate agent and team leader with Douglas Elliman Real Estate, a nationwide firm. Her team focuses on the northern Dallas-Fort Worth real estate market. This interview has been edited for clarity. What trends are you seeing in the housing market? What we’re seeing a lot of in cities like Flower Mound are people relocating and buying homes from out of state. [North Texas] has been such an affordable housing market. In addition, the area is family-friendly and has great schools, which makes it an appealing location. Have home prices gone up in recent years? There have been substantial increases in the past five years. In June 2019, the median estimated
value for homes in Denton County was around $300,000 and nearly $400,000 in Flower Mound. As of January, these prices have risen to over $450,000 and nearly $600,000, respectively. How has inflation impacted housing prices? It’s driving our prices up because the cost of materials and appliances have increased. That’s more relevant for new construction projects. Five years ago, it would have cost $300,000 to build a home, now it would cost $450,000. What changes do you foresee taking place in the housing market in the next year? I think the market will remain pretty steady. We will see an increase in both active listings, resale properties and new-construction homes, which will allow buyers to be pickier. I think we will see more buyers that have been waiting for interest rates to drop enter the market. For the most part, the interest rates are expected to remain steady, but the market could see a decline going into next year. What advice would you give buyers in this market? Make sure they are doing their research and
COURTESY TALYN PROVO
interviewing multiple agents to find representation that is going to help them in this market. People oftentimes work with the first agent they meet, and that might not be the best fit for them. Location should always be priority over the house itself.
INTEREST RATE AS LOW AS 3.99% (6.746% APR)*
972.366.8789 CoventryHomes.com
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©Jet HomeLoans, LP SM (NMLS ID #1660135). Jet HomeLoans, LP is a partnership with FBC Mortgage, LLC (NMLS ID# 152859) and Dream Finders Homes. Coventry Homes is a Dream Finders Homes company. Jet Home Loans Corporate Office: 14701 Philips Highway Suite 202 Jacksonville, FL 32256 | 833-270-7191. Georgia Residential Mortgage Licensee# 58935. All products are subject to credit and property approval. Programs, rates, program terms and conditions subject to change without notice. Not all products are available in all states or for all amounts. This is not a commitment to lend. Other restrictions and limitations apply. NMLS Consumer Access Link: www.nmlsconsumeraccess.org. *Scenario is an estimate and is based on primary residences only, 640 FICO score and a 2/1 buydown on a $400,000 purchase price with an FHA 30-year agreement (360 months) fixed rate loan amount of $392,755 at 96.5% LTV. Year 1 (0-12 months) rate at 3.99%, APR of 6.746%, and monthly payment of $2,048; year 2 (13-24 months) rate of 4.99%, APR of 6.746%, and monthly payment of $2,282; and a year 3-30 (25-360 months) rate of 5.99%, APR of 6.746%, and monthly payment of $2,528. Monthly payments include principal, interest and mortgage insurance. Example payment does not include property taxes, homeowners insurance, HOA or CDD (if applicable) and payment obligation may be greater. **5.99% rate is based on a builder paid forward commitment to buydown the market rate. The forward commitment is offered on government loans for primary residences only. Offer valid for select homesites on loans closed on or before September 30, 2024; see your builder representative for further details on expiration terms and available homesites. Borrower is not required to finance through Jet HomeLoans, LP but must use Jet HomeLoans, LP to receive incentives. Jet HomeLoans, LP is not acting on behalf of or at the direction of FHA/HUD/VA or the federal government.
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FLOWER MOUND - HIGHLAND VILLAGE - ARGYLE EDITION
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