Dallas Home Prices Have Made Up Declines, Continued: Not So Fast There, Partners
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See this house? Becky Frey sold 6171 Northaven Road in about three minutes. OK, she listed it 1/15/2013 and it’s pending. So yeah, homes are selling and the atmosphere is a bit frenzied for a January. Mostly January is a thaw in the real estate calendar. But then Kyle Rovinsky wrote me on Facebook with this great input and food for thought:
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Kyle Rovinsky Just ran a specific study. Extremely updated 3 bedroom houses in 75230. In 2006, avg of top 5 sales came to $232 per sqft. In 2012, the avg came to $211 per sqft. While up 19% from 2011, it is still down 9% from high water mark.
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Candace Evans What do you mean by extremely updated?
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Kyle Rovinsky Some major renovations – moving walls, making more space. Also complete kitchen and all baths. As to not confuse with values of teardown/remodel opportunity.
I agree Kyle. Home values are significantly up from this time last year. All the headlines are saying values are up. Many sellers are getting the impression the market has totally rebounded. While significantly up, we are still significantly down for the highs of 2006, 2007. Unfortunatley for many sellers, that is when they purchased their home (since on average people stay in a home 5 years). Many of those are still at a break even point or upside down right now.
I agree Kyle. Home values are significantly up from this time last year. All the headlines are saying values are up. Many sellers are getting the impression the market has totally rebounded. While significantly up, we are still significantly down for the highs of 2006, 2007. Unfortunatley for many sellers, that is when they purchased their home (since on average people stay in a home 5 years). Many of those are still at a break even point or upside down right now.
I agree Kyle. Home values are significantly up from this time last year. All the headlines are saying values are up. Many sellers are getting the impression the market has totally rebounded. While significantly up, we are still significantly down for the highs of 2006, 2007. Unfortunatley for many sellers, that is when they purchased their home (since on average people stay in a home 5 years). Many of those are still at a break even point or upside down right now.
I agree Kyle. Home values are significantly up from this time last year. All the headlines are saying values are up. Many sellers are getting the impression the market has totally rebounded. While significantly up, we are still significantly down for the highs of 2006, 2007. Unfortunatley for many sellers, that is when they purchased their home (since on average people stay in a home 5 years). Many of those are still at a break even point or upside down right now.
We want to list in 18 months. What do you see ahead if you are still on your first bottle of wine Candy?
We want to list in 18 months. What do you see ahead if you are still on your first bottle of wine Candy?
Wyman: Your house will be in competition with mine. Maybe slightly higher values. But better know where you ill be going next, else you'll be living in my upstairs… now after that second bottle… hang on…
Wyman: Your house will be in competition with mine. Maybe slightly higher values. But better know where you ill be going next, else you'll be living in my upstairs… now after that second bottle… hang on…