How is the Market in North Texas?

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

How's the Market?

 

"Inventory in North Texas dropped a whopping 50.7% from May 2020." That's what the Texas A&M Analysis reports.

 

What do you Want?

 

"[Y]ou have to decide what your highest priorities are and have the courage --- pleasantly, unapologetically --- to say 'no' to other things. And the way you do that is by having a bigger 'yes' burning inside." ---Stephen R. Covey

 

Numbers Don't Drive Success - You do!

 

The big picture in North Texas right now is a median price home is ~$302,000,00 which is up by 21.5% compared to a year ago. The key word in the previous sentence is 'big'. North Texas is BIG! There are really big, small and smaller communities in North Texas where prices and conditions may differ. You have to decide what your highest priorities are and make the best of difficult challenges facing home inventory and prices.  

 

Paying Too Much Attention to Stats Can Drive You Nuts!

 

Take Flower Mound, for example. The smaller Town of Flower Mound is located in between Dallas and Fort Worth. Home prices vary greatly. Currently, there are about 79, 390 people in Flower Mound. Using a 6 Month Comparative Marketing Analysis in Flower Mound, there are 55 listings with actives status with the medians averaging $550,000.00, maximums: $4,500,000.00 with an average of $868,140.00.

 

In addition, 19 properties are contingent, 1 has a Kick Out Clause, 26 are under contract, 20 "Coming Soon," 105 pending, and 366 sold with medians: $510,498.00, maximums: $6,489,000.00, and $630,446.00 on average. 

 

Are You Looking to Buy the Best House You Can Afford?

 

Good luck! More than likely, everyone else is too. Once upon a time Investors looked for fixer uppers, paying pennies on the dollar. Those days are gone. Buyers today are in the mix with aggressive Investors and not just small investors (average people) trying to own their own home while renting out one or a few more to acquire wealth. 

 

Strategy

 

Sometimes you just have to shift your strategy and reprioritize. Home ownership matters. Do you really need to live in a community with Award-Winning schools and luxury? Can you handle cosmetic changes on your own or would you rather pay more for a perfect house and pay more for mortgage, taxes insurance, maintenance, and possibly HOA fees? Can you afford to bank on future home ownership costing less?

 

Something to Think About

 

Are you part of the fan club for Reality Home T.V. Shows? Have you read recent articles such as 7 Realty Homes that Aren't Real? Do you honestly think it's that easy to buy, renovate, remodel, update, and flip.

 

Have you examined your conscious and reset your priorities from highest to lowest regarding:

 

  • Family
  • Your real budget
  • Savings
  • Retirement
  • Education
  • Decorating
  • Material Goods
  • Food
  • Shelter
  • Maintenance
  • Authenticity (YouTube Do-it-Yourself)
  • Medical 
  • Health
  • Communities
  • Transportation
  • Amenities
  • Updates

 

Finally, do certain types of counter tops, flooring, decor, closets, kitchens and baths make you happier or define who you are? How much time do you really have to achieve the things that matter most or spend quality time with those you love most?

 

In sum, "[Y]ou have to decide what your highest priorities are and have the courage --- pleasantly, unapologetically --- to say 'no' to other things. And the way you do that is by having a bigger 'yes' burning inside." ---Stephen R. Covey

 

 

 

 

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 dfw fine properties

 

DFW FINE PROPERTIES

                                        3575 Lone Star Circle, Suite 315
                                        Fort Worth, TX 76117
                                        Office: 817-748-4800/FAX: 817--748-4900

                                         Patricia (Peace without Panic) Feager (Faith without Fear)
                                                        Cell: 469-951-4758

                                                        Email: patricia.feager@gmail.com

 

MBA (University of Dallas)
BA
(Bachelors of Arts & Science)
SECI (Southeastern Career Institute)
Associates (3) (Collge of Lake County)
KU (University of Kansas)

CERTIFICATIONS

CRS (Certified Residential Specialist)
SRES (Certified Senior Residential Specialist)
PSA (Certified Pricing Strategies; Mastering the CMA)
CRS (Certified Military Relocation Specialist)
RENE (Real Estte Negotitions Expert)

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

 

  

Comments (12)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Patricia... crazy times for sure in the real estate market and not just in North Texas... all over the Charlotte region and North Carolina, as well. In my area, inventory is down between 70-75% compared with one year ago. It's insane. I just posted about our market this morning and called it the hunger games, because that's what it's feeling like right now.

Jun 17, 2021 05:25 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Good morning!

 

Future homeowners do need to do some soul searching so they'll be able to focus on those things they really "must" have. With inventory so short in many places, they will have to jump when something that meets their "musts" comes on the market. 

 

Buyers in Flower Mound should call you today to get your guidance!

Jun 17, 2021 05:25 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Patricia - life can seem to be a bit like juggling with multiple priorities coming ones way.  Fast and furious. And conflicting at times. 

 

Hopefully your post will prompt a pause to reflect on what is most important for those who want to make a move in the Flower Mound area of North Texas.  

Jun 17, 2021 05:33 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander, Broker - Somethings gotta give! Too many people are whistling to the bank because they got over list price only to discover it didn't make them any richer and finding something better may not be as easy as they thought. Fake Reality Home TV shows are just an illusion. 

Jun 17, 2021 05:36 AM
Nina Hollander, Broker

Patricia Feager, MBA, CRS, GRI,MRP hi Patricia... over the years I've written a number of blog posts saying that there's nothing real about reality TV.

Jun 17, 2021 05:39 AM
Patricia Feager, MBA, CRS, GRI,MRP

Nina Hollander, Broker - I've written articles about Reality T.V. and spread the word to my sphere, consumers, clients, buyers and sellers too. Many people in our industry have done the same; yet the shows are popular.  

Jun 17, 2021 05:50 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Kat Palmiotti - You're absolutely right. Buyers need to constantly remind themselves on what their ultimate goal is and not be distracted by time-wasting T.V. Reality Shows that have a goal to make a profit by staying on the air to be famous. I recently read an old, old, old article about Madonna who said the best way to reach out to fans was through the television. 

 

Thanks for your recommendation! I recommend the same for you. Buyers looking to move to Montana should contact you! 

Jun 17, 2021 05:41 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Michael Jacobs - Thank you for your support and understanding.  I'm afraid every decision buyers make to reach for the stars will affect another decision that impacts their life, future, and well-being. 

 

My number one spot is Quality of Life. 

Jun 17, 2021 05:44 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Patricia,  Stephen quote is a good one.  Boy your inventory is down also, same here in Denver.

 

Jun 17, 2021 06:15 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Patricia,

Reality TV is about entertainment and self-promotion.   One of our clients who was selling fine bedding, got her name on the show as they were doing an after shot...And your market is similar to many other markets in terms of inventory and feeding frenzy. Wishing you continued success.  A

Jun 17, 2021 07:10 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patricia it is a very challenging market out there, and Buyers and Sellers need to make sure they are represented by an experience, knowledgeable Realtor to guide them through it.

Jun 17, 2021 04:06 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Yes, it's pretty ugly out there for many buyers. Really kind of heartbreaking.  I keep wondering, if and when things level off, will buyers be remorseful for paying 100k and better over list prices - and waiving appraisals!?   And, will they feel resentment toward anyone who helped them do it? I honestly don't have the answer.  I know the few buyers we have worked with came up with their decision to move ahead with competitive offers on their own. Naturally, we gave them plenty of suggestions and guidance as to how best to compete, plus plenty of input about any possible consequences.  In short, we are doing everything to ensure they make a very careful and well-researched decision. But, in the end, we want to make sure they feel confident in purchasing at this time. If not, they shouldn't do it.  And, we have it documented in texts and emails - even when we talk in person, we send summaries of our discussion.   The majority of our clients are choosing to wait and see.  A few will be listing soon, but that's due to a decision to move elsewhere.  

Jun 19, 2021 02:24 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia I have not had the TV on in over two years... and last time I watched a Reality TV show about Real Estate was about 20 years ago... knew the agents and I knew better:) NOT REAL<Endre

Jun 21, 2021 11:42 PM
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Jun 22, 2021 07:48 PM