Plenty of Signs of Life in North Texas Real Estate

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If you spend a lot of time online — and who doesn’t these days? — you’ve probably found you must actively seek out the good news.

The mainstream media tends to focus on the dire and the controversial. But it’s there if you look. Social accounts like Good News Movement, Tanks Good News or Some Good News are all curating what our battered psyches crave — stories that make us smile and renew hope.

Believe it or not, there are some feel-good stories to be had in residential real estate, especially in North Texas. It’s been said this industry will be among those to help pull us out of the quicksand we’re in. And there’s plenty of anecdotal evidence to support that.

But first a little data-based commentary from national industry leadership.
“After a pause, home sellers are gearing up to list their properties with the reopening of the economy,” said National Association of Realtors Chief Economist Lawrence Yun. “Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.”

Regional leadership is feeling encouraged and emboldened by the positive stats as well.

“Since early April, the number of home showings has sharply rebounded by
over 70 percent, climbing back to 2019 levels from this same time last year,” said Chris Kelly, CEO of the Ebby Halliday Companies, “The critical need will be adding listing inventory to match and meet this growing buyer demand. We are currently advising our agents to dust off their 2020 plans as we appear to be moving from triage mode back to production.”

Perhaps even more importantly, agents in the field are actually experiencing what these two have described.

Jeff Dater | Ebby Halliday Realtors | Ebby’s Little White House
“I had a really fabulous Midway Hollow contemporary – now pending – that went active April 27. Nine showings in the first two days resulted in two offers. I didn’t even get a chance to send out my Just Listed cards!”

Skylar Champion | Dave Perry-Miller Real Estate | East Dallas Office
“I had a home on Pasadena Avenue as a hip pocket in mid-April, and the first weekend it was available to see, we had multiple showings with two offers. We never even had professional photos taken. The offer we accepted was scheduled to close next week but is actually closing a week early. Things are definitely moving.”

Ida Duwe-Olsen | Williams Trew | Camp Bowie Office
“We had two new million-dollar listings on Ranch View Terrace and Sarita Park hit the market during the COVID craziness. Both properties were under contract within a couple of days of launching our marketing campaign. One property sold Pre-MLS in-house and the other received multiple offers within a couple of days. Fort Worth continues to experience strong market demand.”

Anne Westphal | Ebby Halliday Realtors | 190-Richardson Office
“I received multiple offers on a cute listing on Templehill in Plano last month (April). We had 28 showings in 36 hours. It was nuts! We received seven offers and it’s now Pending with a backup in place. What’s funny is almost everyone offered list price. Things just started popping a couple weeks ago. It’s good to be busy again!”

Dwell Partners, Aimee Schreiner Ives & Lauri Ann Hanson | Dave Perry-Miller Real Estate | InTown Office
“We had a listing go under contract Easter Sunday during its first weekend on the market – in a neighborhood where days-on-market historically averaged a few months without COVID even on the radar. We also have had two listings go active during COVID and under contract with over six offers each right out of the gate! Sellers still need to move and the buyers who are shopping are serious contenders.”

Cheryl Waters | Ebby Halliday Realtors | Sherman Office
“I represented a home on Ridgeway Drive. Had the photos done on May 1, and the listing went live in MLS that next Monday. Thirty minutes later, the first showing was scheduled through Showing Time, followed by a second that evening and three more on Tuesday. Two offers were received Tuesday, and we had a signed contract (full price) by 8 p.m. Tuesday evening! Two more showings scheduled for later in the week had to be canceled. There are definitely ready buyers in Sherman, at least in this price range!”

As Kelly mentioned, inventory is quite low. If you are interested in listing your home for sale, please contact your favorite Ebby Halliday Realtors, Dave Perry-Miller Real Estate, or Williams Trew agent.

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Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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