The Smart Way to Buy in DFW, According to Ryan Serhant

Buying a home isn't easy right now. Rates are higher than you want. Prices feel like they're stuck on fast-forward. And every headline seems to say something different. It's no wonder so many people are waiting for a clearer picture before making a move in the real estate market, especially when considering the substantial down payment required.

Mortgage rates have fallen to around 6.3%, and buyer activity has spiked. That's good news. The challenge is figuring out what it means for your real estate journey in Dallas-Fort Worth, particularly in light of ongoing supply chain issues affecting the housing market.

Ryan Serhant, star of Netflix's Owning Manhattan and Million Dollar Listing, recently joined FOX Business to explain what's going on in housing right now. What Serhant said about the real estate market may surprise you.

As Serhant put it:

"This isn't a buyer's market or a seller's market. It's nobody's market because no one knows what to do."

If you're thinking about buying or selling in Dallas-Fort Worth, here's what that means for you.

Local Market Quick Stats

Latest 2025 numbers in Dallas-Fort Worth:

• Median home price: $352,950

• Active listings: 46,726

• Days on market: 70

What You Should Know About Mortgage Rates

Buyers feel uncertain about affordability, especially when considering down payments and closing costs. Sellers are nervous about their next move and the challenges of selling a home. Everyone is waiting for someone else to act first in this unique real estate market.

While rates have come down from their peak earlier this year, Realtor.com's forecast shows they'll stay close to where they are now for a while (low 6s). So if you're waiting for a massive drop in home prices, that may not happen.

Serhant clarified this:

"New normal is not low rates. I think people are confused that we're entering a new normal where we're going to have lower rates. It's not going to happen."

Getting Creative Can Help You Win

Rather than waiting for rates to drop, today's market rewards strategy instead of hesitation. Serhant, drawing from his extensive market knowledge, gave a real example:

"I was talking to a client who would never do an adjustable rate mortgage, who now is because they can get it at just over 5%. And they're (probably) not going to be in the house for 5 years anyway. And it makes sense for that monthly budget."

Exploring all of the options available to you can help you move sooner in your home buying process. The key is ensuring they fit with your specific needs and future goals.

Tools that can help buyers in Dallas-Fort Worth:

• Adjustable-rate mortgages that match how long you'll stay

• Temporary rate buy-downs to lower monthly payments

• Seller credits to reduce upfront costs

• Expanding your search to include overlooked opportunities and new developments

There are more pathways to homeownership than ever. Working with a lender to secure mortgage approval, submit mortgage applications, and obtain a pre-approval letter can give you a competitive edge in this market. Understanding your options for financing your purchase is crucial in today's real estate landscape.

Finding the Right Home in Dallas-Fort Worth

If you're hoping to buy, the biggest risk is waiting for a perfect time that never comes. Property experts like Serhant suggest focusing on your must-haves and using a process of elimination to narrow down your options. This approach can help you identify featured properties and signature listings that meet your criteria, including new developments and fully furnished homes.

Serhant explained it clearly:

"I think affordability is definitely a crisis, but if you're paying a lot in rent and you're looking to build equity and you want to buy, now's as good a time as any."

The right strategy can turn this "nobody's market" into your market. Especially when you have a strategy nerd with extensive market knowledge in your corner who knows exactly how to help you win in the current real estate market.

Remember, whether you're buying or selling, understanding the asking price trends and working with experienced real estate brokers can make all the difference in your real estate journey. Don't let the complexities of the market deter you – with the right guidance, you can navigate this challenging landscape and achieve your real estate goals.

For those selling a home, Serhant advises focusing on presentation. Simple steps like decluttering and painting can significantly impact your home's appeal to potential buyers. Additionally, being flexible with the closing date and emphasizing your speed to close can give you an edge in negotiations, potentially attracting the highest bidder.

In conclusion, Serhant's insights highlight the importance of adaptability in today's real estate market. Whether you're exploring new developments, considering featured properties, or preparing your home for sale, working with a knowledgeable real estate broker can help you navigate this "nobody's market" with confidence.

Navigating the Home Buying Process

When embarking on your home buying journey, it's crucial to understand the various steps involved. Serhant emphasizes the importance of being prepared for contingencies that may arise during the process. These can include:

1. Land surveys: Essential for determining property boundaries and potential issues.

2. Appraisals: Crucial for assessing the fair market value of the property.

3. Title searches: Necessary to ensure there are no liens or ownership disputes.

By being aware of these potential hurdles, buyers can better prepare themselves for a smooth transaction. Serhant advises buyers to work closely with their real estate agents to navigate these processes effectively.

Effective Communication in Real Estate Transactions

In today's competitive market, effective communication between buyers and sellers is more important than ever. Serhant recommends that both parties be prepared to ask and answer pointed questions during negotiations. This open dialogue can help address concerns, clarify expectations, and ultimately lead to a successful transaction.

For buyers, some key questions might include:

• What is the seller's timeline for moving?

• Are there any known issues with the property?

• What renovations or updates have been made recently?

For sellers, important questions to consider might be:

• What is the buyer's financial situation?

• Are they pre-approved for a mortgage?

• What is their desired move-in date?

By fostering clear and direct communication, both buyers and sellers can navigate the complexities of the current real estate market more effectively.

As Serhant often reminds his clients, success in real estate often comes down to being well-informed, prepared, and adaptable. Whether you're a first-time homebuyer or a seasoned investor, these principles can help you make the most of the current market conditions in Dallas-Fort Worth and beyond.

Sources: FOX Business, Realtor.com, BAM