It’s a Seller’s Market: Lake Park Estates and Alger Park/Ash Creek are Selling Like Hotcakes

You remember that adorable three-bedroom at 926 Peavy that Candy loved so much? Well, it sold in a matter of days, just like we said it would. If you feel like you missed out on a great home in a HOT neighborhood, well, homes in the Lake Park Estates area and nearby Ash Creek/Alger Park neighborhood are coming on the market every day.

“Definitely a good forecast for those homes in our area to continue a steady climb upward as we now head into the new year,” said Ebby Halliday Realtors’ Edwina Dye. ” Who would have thought a year ago we would be listing  pre-owned homes facing Peavy Road east of Alger Park for over $347,000?  I have a listing on Peavy that is contract pending, been appraised and due to close in January 2013.”

Dye, who is an expert in all things East Dallas and specializes in the White Rock Lake area, is very optimistic about the enclaves that surround the lake. For good reason, too.

“I recently sold a renovated home in Alger Park that we listed for $254,900. Received multiple offers in two days of listing, sold and appraised for over list price!” Dye said.

Still, some homeowners could be missing the boat on the comparables. According to Dye, several sellers and agents are listing homes much too low. “ This can prove harmful for our appraisals in the 2013 spring market,” she added.

There are lots of great homes on the market in this area, especially this week’s Tuesday $200,000 at 821 Peavy, which is  brand new inside and out. With these outstanding homes on the market in a great, affordable and upwardly mobile neighborhood that feeds into an award-winning elementary school, it’s a sellers market in this enclave of East Dallas!

“I feel as listing agents we have to really believe in our market areas and understand we are once again seeing a sellers market emerging where we may have multiple offers and that our listings can possibly appraise for over list price,” Dye said. “But we can’t be shy about these indicators we are seeing. If we as listing agents can’t be bold enough to believe in a strong sellers market how can we expect anyone else to?”

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