Two simple keys to success in 2019 for the real estate market

Don’t worry Tarrant County Tuesday readers, the Bow Tie Realtor will have a look in the 2019 crystal ball for some tasty prognostications before the ball drops.

The pendulum has swung.  This was discussed earlier in Tarrant County Tuesday  — the housing market in Tarrant County has become more of a buyer’s market than we have seen in many years.

Why A Buyer’s Market?

In real estate, a buyer’s market is when there is a surplus of homes available for sale.  Homes generally take longer to sell, and prices tend to drop or only rise slightly.

There’s no exact reason why a seller’s market (like we’ve seen in Dallas-Fort Worth for past number of years) flips to a buyer’s market but here are a few common themes:

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A slowdown isn't a bad thing for real estate

The slowdown in the real estate market is more like a shift toward balance for sellers and buyers.

WOW–tremendous responses and feedback on Part I of this real estate slowdown blog topic from last week.  Thanks so much!  Nice to know people are reading, following and giving thought to #tarrantcountytuesday.

Last week we established (with data) that there indeed is a slowdown or market shift in the housing market.  One Dirty Reader asked about this “recession” and I would strongly caution the use of that word.  There’s a big difference from a slowdown to a recession.

Is This Slowdown a Good Thing?

Many have indicated that this shift from a sellers’ market to a buyer-friendly market might actually be a good thing.  I would agree.

As the data indicated, when prices are increasing so quickly, interest rates are going up and individual incomes not keeping pace buyers aren’t buying.  That’s not good for anyone in the real estate business. (more…)

ClubLocal_ipad-photos1Spring is trying to tease us here in Dallas. Great 60 degree days, then whamo, freezing cold nights. And the Dallas housing market is really gearing up. In case you haven’t heard, we are almost a Seller’s market! That means it’s time to get your home ready to sell even if you plan on staying put!

bad chimney bad home inspection photoAnd ClubLocal is here to help. So many people ask me for names of great homes services companies — electricians, plumbers. Now I don’t need a Rolodex, I just say “Club Local”. Just like Equinox prepares us for bikini season (um, cough), ClubLocal is preparing homes for sale. Or spring.

Think of ClubLocal as a fitness trainer for your home.

Garbage-Can-Sinks-274x300 bad home inspection photo -fanAs a real estate blogger, homeowner and previous times five seller, I realize the task list to get a home ready for market can be daunting. It’s clearly the least fun thing about selling a home, well, next to actually moving. So why…why put yourself through the headache and hassle of Googling/Angieslisting/Askingeveryoneyouknow when there’s a one stop shop for everything you need?

ClubLocal’s got it all!

For example:

  • Home Inspection: Home Inspection, of course, the first step before selling a home, and prevents unpleasant surprises! Savvy sellers go ahead and spring (pardon my pun) for a home inspection prior to listing so buyers won’t have any surprises. Helps with realistic pricing, too.
  • Cleaning: Window cleaning, pressure washing (sidewalk, pool, driveways & houses), carpet cleaning (a MUST if there are pets) & house cleaning gets a house spic and span. Show me a home on the market with dirty windows, I’ll show you a home that will be listed ’till the cows come home.
  • Handymen & Electricians: Hire a handyman to hang curtain rods, install doors or patch up drywall.  Ha — hire him to hang pictures in front of a rough area! Electricians can install lights & ceiling fans or just make sure all outlets and light switches are behaving properly.
  • Are those three-pronged switches really grounded or are we trying to fool somebody? True story: we just looked at a house for my daughter, and all the outlets were three-pronged, or grounded on the wall. Not true, said the electrician inspector: 27 misleading outlets were not properly wired to be grounded. It is imperative, imperative to have a pre-owned home’s electrical system checked out thoroughly!

What say? You are not selling. It never hurts to get a jump-start on your spring cleaning and house tune-up! Besides, with the market this frenetic, you’ll get the “Let’s Move” bug up your bonnet soon, very soon.

Happy Spring, Dallas!

 

You remember that adorable three-bedroom at 926 Peavy that Candy loved so much? Well, it sold in a matter of days, just like we said it would. If you feel like you missed out on a great home in a HOT neighborhood, well, homes in the Lake Park Estates area and nearby Ash Creek/Alger Park neighborhood are coming on the market every day.

“Definitely a good forecast for those homes in our area to continue a steady climb upward as we now head into the new year,” said Ebby Halliday Realtors’ Edwina Dye. ” Who would have thought a year ago we would be listing  pre-owned homes facing Peavy Road east of Alger Park for over $347,000?  I have a listing on Peavy that is contract pending, been appraised and due to close in January 2013.”

Dye, who is an expert in all things East Dallas and specializes in the White Rock Lake area, is very optimistic about the enclaves that surround the lake. For good reason, too.

“I recently sold a renovated home in Alger Park that we listed for $254,900. Received multiple offers in two days of listing, sold and appraised for over list price!” Dye said.

Still, some homeowners could be missing the boat on the comparables. According to Dye, several sellers and agents are listing homes much too low. ” This can prove harmful for our appraisals in the 2013 spring market,” she added.

There are lots of great homes on the market in this area, especially this week’s Tuesday $200,000 at 821 Peavy, which is  brand new inside and out. With these outstanding homes on the market in a great, affordable and upwardly mobile neighborhood that feeds into an award-winning elementary school, it’s a sellers market in this enclave of East Dallas!

“I feel as listing agents we have to really believe in our market areas and understand we are once again seeing a sellers market emerging where we may have multiple offers and that our listings can possibly appraise for over list price,” Dye said. “But we can’t be shy about these indicators we are seeing. If we as listing agents can’t be bold enough to believe in a strong sellers market how can we expect anyone else to?”