Appraiser Frank Friesenhaun with DFW Investor Lending spoke yesterday afternoon to the Collin County Association of REALTORS®. Here are three noteworthy things he said:

1. “A lot of folks are overpricing their homes. What we’re seeing is that if your house is priced properly, you should be able to sell it in 15 days (in Collin County). If your home is taking 6 months to sell, somebody screwed up somewhere.”

2. “The question we all keep hearing about is the threat of a bubble (home) market situation in the Dallas-Fort Worth area. If you look at the statistics, we’re really not above where we should be. What we’ve done is we’ve recovered from our dip (during the recession) and made back our losses. Now we’re back to our normal, historical market. We’re right on pace to where we should be, so there’s no reason to believe we’re in a bubble market.”

3. “The Millennial generation is going to be driving the market for the foreseeable future, for the next 20 years, and they’re just now entering the market. They’re just now starting to buy. Most of us bought our first home in our 20s. Millennials aren’t doing that, so keep that in mind as you start directing your career pattern over the next 10-15 years and where you might want to position yourself. Think about the kind of products they’re going to be interested in buying.”

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