Local Realtor Pam DeBlasio recently addressed the Rotary Club of Livingston regarding the local real estate market.
“The market has just been almost in a gridlock the last two years. We have had approximately 50% more sellers than buyers. Prices have dropped. There are currently 148 total waterfront listings on the lake,” she said.
“You almost cannot underprice your home. Once you comp it, your numbers are already old by the time you put it on the market,” she said.
“We’re actually anticipating a decrease in the interest rate. That’s really going to incite buyers to come out. We feel like the gridlock will loosen up in the next six to eight months.”
“On a $400,000 home at 6½% interest, the principal and interest alone is $2,528,” DeBlasio said, commenting on the big impact that the interest rate has.
She primarily handles lake listings and said the lake market is a “want to” market, not a “have to” market.
“Overall, it’s been tough, but properties are still moving. They will recognize a well-priced home and will act on it,” she said.
DeBlasio also shared information about a new waterfront development on FM 3126 next to Texas Landing. She said there are 40-45 lots with 37 still available and the majority are an acre or better. She said the development will be gated, that the developer has put in a little marina and that there will be pickleball courts and other amenities.
“We’re starting to see some growth in the surrounding area as well,” she said.
When asked about acreage, she said it primarily depends on location, with prices ranging from $6,000 an acre up to $30,000 an acre.
