How Fast are Homes Selling in Texas? Faster Than Quick Draw McGraw!
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From what I’m hearing, it’s the moderate to mid-priced homes (up to $1.2 million) that are selling the fastest — anything within the 636 Loop, Park Cities, Preston Hollow, Midway Hollow, Lakewood, Hollywood Heights, M Streets, Bluffview, North dallas south of LBJ. Preston Trails taking a little longer. Plano and Frisco on fire (you know what I mean).
What areas are you hearing that are hot, what areas are not?
Posted in North Texas Market Trends
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The Frisco market is a nightmare, I currently have two buyers looking up there and we cannot lock down anything. Last offer was 22 grand over list price and we still were only the 3rd best offer.
I am about to find out. My Plano home goes on the market 4/16. My realtor said, “It’s going to be a party around here so get ready.”
She actually asked if I could just move out for a few days. Well, no, cuz I’d worry about who locked the doors, left the shutters open, lights on, etc. But I’m guessing I won’t get much sleep and certainly no time to lounge in the ol’ pj’s morning or evening!
My girlfriend lives in Plano and was looking to buy a house. I offered to help her put in some offers and was I in for a surprise. Most of the houses already had a contract by the time we called. We got with a realtor to try and get them when they 1st get listed. We then were able to put in offers on about 10 houses and still no good, about 5 were over asking price and obviously we did not bid high enough. The realtor told us that cash investors from out of state were buying them up. Looks like we will have to look elsewhere, we cant bid that high.
Gerald,
Is there a particular area or price range she’s seeking?
I can now tell you how fast homes are selling — my house in Plano went on MLS the afternoon of 4/16. Within one hour of listing I had 4 showings scheduled. By the end of the same day there were 13 showings. On 4/17 the day began with 3 offers and then 33 showings scheduled, another offer came in with more to be submitted. Requests for showings continued at a frenetic pace for 4/18, but we are now requesting best and final offers by 12 noon on 4/18. I had always called my beloved home “Sanity Ranch” but it has been INSANE!!!!! It was a circus.
66 showings. 15 offers, 3 are all cash. All offers above asking price. I’m pooped!
Final tally (I think): 70 showings, 18 offers of which 6 were all cash. And to my friends who think I should have saved money and not used a realtor in this market — NUTS to you! I could NOT have handled the details without the expertise and knowledge of my realtor. I’m no dummy but I learned a lot during this process. There are those who think realtors are just sitting back and raking in easy commissions. TSK TSK