Mls
Well yes, it’s not even mid-April and it’s a mad house out there in the inner-loop real estate world. Sales of pre-owned single-family homes in March rose 22 percent from 2012. 7,483 properties sold. That’s the highest number of home sales since March, 2007. And we all know what happened after 2007. Hot discussion Wednesday…
Read MoreI’ve told you all about Hip Pockets, right? Well, get used to hearing this term more and more if you are buying a house in Dallas. Our market is not just hot, it’s sizzling. Homes are selling even before they hit MLS. Not only is that a huge status symbol for your house, but it…
Read MoreI spoke to MetroTex Association of Realtors MLS Director Cathy Faulkner yesterday about “Z sales” coming to an end. In the luxury market, “Z sales” gave lofty sales prices a sense of anonymity.
I won’t bore you with the technical details of what a “Z sale” is exactly. Check out this site for a primer on the practice. The gist is this: sellers who were gun shy about disclosing what they paid for a home listed on MLS put a “Z” instead of a big number followed by a lot of zeroes.
Dallas Realtor Jeff Duffey says the death of the practice “will never affect approximately 99% of the real estate market areas throughout North Texas.” However, he estimates roughly 20 percent of the sales in high-end neighborhoods such as the Park Cities, Preston Hollow, and Turtle Creek are “Z sales.”
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