As inventory increased over 2018, more Realtors complained of homes lingering on the market, leading to price reductions.

By Britt Fair
Guest Columnist

“It was the best of times, it was the worst of times.”

No, I’m not trying to give everyone nightmares about high school English class or invoke the French Revolution. Rather, that’s how I would sum up the mixed feelings about DFW’s residential real estate market during the second half of 2018. Just about every statistic can be spun to match whatever sentiment a person has about the housing market.

Consider the dollar volume of home resales in North Texas: the amount of money flowing through the MLS system in 2018 was the second highest ever, behind only 2017. To many people that would appear to be a rather positive statistic, but some people look at that as the first step in the wrong direction, especially since transaction volume really fell off in the second half of the year.

Next think about inventory of homes on the market. One lament among Realtors who serve as listing agents is that inventory has been increasing over the last year, causing their listings to take significantly longer to sell than in recent years. That is true broadly, and even more so in specific neighborhoods and price points. But on the other hand, in the few years before 2018, probably the No. 1 Realtor complaint about the Dallas-Forth Worth housing market was a shortage of inventory that was making it hard for potential homebuyers to find a house to purchase. So, in many ways this increase in inventory of homes on the market could be considered a positive trend.

So which interpretation is right? Well, it all depends on your perspective. (more…)

According to a recent report from Zillow, a significant number of markets across the nation are seeing price reductions across all ranges. Is that a sign of depreciation? What can buyers and sellers expect when it comes to the bidding process?

In this weeks BobMortgage Zone episode, Bob Johnson (AKA BobMortgage) tells us what these lower listing prices and “corrections” are — and especially what they aren’t. Get the pulse of the real estate market with Bob Johnson, senior mortgage adviser at the nation’s oldest private lender, Wallick & Volk.

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dfw open houses

This Vickery Place modern marvel at 5411 Melrose Ave. is just one of five open houses we’re looking at this weekend in DFW.

This weekend, there are dozens of open houses all over North Texas. We’ve picked five of our favorites for your pleasure.

These are in neighborhoods ranging from Vickery Place and Preston Hollow, to Claremont and Stevens Woods. The prices range from the $289K to $989K. Check out our selection and let us know if you visit any and what you think!

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Last week we featured price-chopped properties in honor of Cyber Monday. The response was so overwhelming, we’ve decided to continue the feast! And now one property has kindly given us an exclusive first-and-only price special that is blowing my mind. The Azure — that’s right, the place where celebs like Jason Kidd and Terrell Owens like to hang their hats –– has reduced its pricing! Right now you can buy a handful of  one-bedroom units at The Azure starting at $320,000, a two bedroom for $495,000, or a three-bedroom for $845,000. That’s not all of the inventory that is left, but a few select units they really want to move.

When new, which I know is no comparison, because we live now in a very different world, these units were fetching close to $500 a square foot!

Methinks that with Museum Tower looming, and the economy kind of ho-hum, the downtown condo market is gearing up for inventory clearance. Stay very tuned…