North East Tarrant County Home Sales 2011 vs 2010

Check out home sales in your area or email me for comparisons in your Neighborhood.  Soldnow@aol.com

 

Best time to list your house? Thursday morning!

“I want it in the MLS as soon as possible!”

That admonition will come at the end of the listing appointment. It’s an understandable impulse. After all, the sellers have just reached an important milestone after what may have been years of thought, months of fretting, days of planning, and an hour or two of active preparation.

It’s absurd, of course. For one thing, putting a home listing together takes time. I have to collect all the information and have it entered into the MLS system. The home must be repaired, cleaned, staged, and photographed. Virtual tours must be scheduled, signs and riders prepared, the lockbox installed and the signpost erected.

My share of these chores may take 24 hours or fewer, but if the home needs substantial repairs or touch-up painting, it’s going to take a few days. Certainly, the home should not go into the MLS system until it is market-ready — unless the sellers are prepared to take discounted offers in lieu of the unfinished repairs. Even worse is to have the home listed in the MLS but unavailable to be shown.

What’s more, there is a right time for doing anything. I have been in the business many years and can honestly say…If your Realtor does not have a strategic marketing plan for selling your home, then you’re working with the wrong Realtor.

Strategically, what is the best time to list your home for sale?

The answer is as soon as possible after midnight on Thursday morning. Why? Because your house will be available to all the Realtors planning their weekend showings, but all day Thursday, the listing will show zero days on market. All day Friday, it will be one day on market. All day Saturday — the most important day of the real- estate week — your home will show only two days on market.

Obviously, the fewer days on market, the better chance the home will attract a full-price offer. But consider that even if your house does not sell until the following Saturday, it will still show only nine days on market, still benefiting from the psychological advantage of a single-digit number.

July 2010 Dallas/Ft. Worth Real Estate Market Report

Here is your July 2010 DFW Area Real Estate Market Report:

July 2010 Quick Facts:

• The median price of existing single-family homes increased to $149,500 up 1.6% vs Jun-10
• Existing single-family home sales decreased -29.5% from Jun-10 for a Jul-10 total of 4,295
• Condos increased in price to $126,000 up 5.9% vs Jun-10
• Existing condo sales decreased -32.9% in Jul-10 over Jun-10 for a total of 224

 

 Jul-10 North Texas Real Estate Information System (NTREIS)  Regional Sales and Price Activity

North Texas Real Estate Information System (NTREIS)	Median Price	Percent Change in Price from Prior Month	Percent Change in Price from Prior Year	Total # Units	Percent Change in Sales from Prior Month	Percent Change in Sales from Prior Year
	Jul-10	Jun-10	Jul-09	Jul-10	Jun-10	Jul-09
MLS Wide
NTREIS (Single Family)	$149,500	1.6%	1.0%	4,295	-29.5%	-34.4%
NTREIS (Condo)	$126,000	5.9%	7.2%	224	-32.9%	-36.9%
NTREIS Region Cities
Single Family Only
Abilene	$121,875	-0.1%	-4.0%	112	-11.1%	-9.7%
Allen	$220,300	12.0%	11.8%	74	-37.3%	-32.7%
Arlington	$122,000	-1.6%	-1.2%	183	-25.0%	-42.3%
Bedford	$172,000	4.2%	10.3%	25	-32.4%	-30.6%
Burleson	$144,900	21.8%	18.3%	33	-40.0%	-46.8%
Carrollton	$158,000	-8.9%	-5.1%	58	-38.9%	-49.6%
Cedar Hill	$122,000	11.9%	10.7%	37	-31.5%	-37.3%
Coppell	$286,391	10.2%	9.7%	33	-34.0%	-34.0%
Dallas	$203,500	9.4%	16.3%	453	-36.1%	-34.1%
Denton	$142,000	3.6%	-2.0%	59	-19.2%	-49.6%
Desoto	$105,447	-4.1%	-18.3%	32	-43.9%	-40.7%
Euless	$141,500	-7.8%	-9.3%	23	-30.3%	-45.2%
Flower Mound	$283,600	3.1%	11.7%	80	-17.5%	-44.1%
Forney	$143,000	12.2%	6.7%	27	-30.8%	-37.2%
Fort Worth	$115,000	1.0%	-2.5%	335	-35.7%	-38.3%
Frisco	$259,950	-1.5%	14.0%	134	-39.1%	-38.0%
Garland	$97,500	-7.9%	-10.6%	106	-36.5%	-36.5%
Granbury	$156,000	-8.2%	0.6%	49	-34.7%	-16.9%
Grand Prairie	$110,750	-9.2%	-6.3%	72	-40.5%	-44.6%
Grapevine	$237,000	2.0%	-5.6%	40	17.6%	-21.6%
Hurst	$127,000	-13.6%	-10.8%	23	-34.3%	-50.0%
Irving	$128,450	-6.9%	-4.1%	62	-30.3%	-38.6%
Keller	$168,807	-15.0%	-13.4%	108	-31.6%	-29.9%
Lancaster	$83,633	-6.6%	-1.6%	28	-22.2%	-33.3%
Lewisville	$159,900	-3.1%	1.7%	47	-42.7%	-51.0%
Little Elm	$150,000	-5.7%	2.0%	29	-27.5%	-49.1%
Mansfield	$164,650	-10.2%	3.0%	53	-28.4%	-31.2%
Mckinney	$195,000	5.1%	11.4%	147	-8.1%	-36.9%
Mesquite	$95,000	11.8%	5.4%	71	-29.7%	-34.9%
Midlothian	$166,450	11.0%	5.0%	18	-41.9%	-47.1%
North Richland Hills	$150,450	15.7%	3.8%	36	-26.5%	-29.4%
Plano	$225,000	-4.3%	4.6%	197	-23.0%	-35.8%
Richardson	$192,000	1.1%	7.9%	61	-29.9%	-46.0%
Rockwall	$174,950	-5.4%	4.9%	38	-43.3%	-26.9%
Rowlett	$144,950	-1.4%	-1.6%	44	-42.1%	-50.0%
Sherman	$95,000	-2.8%	-16.5%	29	-9.4%	11.5%
The Colony	$119,900	-7.7%	-11.8%	23	-37.8%	-48.9%
Waxahachie	$114,000	2.8%	-12.3%	31	-6.1%	-6.1%
Weatherford	$182,500	47.2%	34.2%	32	-48.4%	-51.5%
Wylie	$135,200	-6.8%	0.1%	29	-29.3%	-45.3%

Single Family = Single-Family
Condo = Townhouse/Condo

Northeast Tarrant County Home Sales for January 2010

The table below shows statistics of home sales in Northeast Tarrant County and surrounding areas for January 2010.  As far as number of homes sold in January 2010, the 5 top cities in Northeast Tarrant County are:

1. Park Glen/Heritage: 63 homes sold
2. Ft. Worth-Saginaw/North: 61 homes sold
3. Ft. Worth-Northwest: 58 homes sold
4. North Richland Hills: 39 homes sold
5. Keller: 37 homes sold

The top 5 cities in Northeast Tarrant County with the highest average sales price:

1. Southlake: $638,557
2. Colleyville: $450,670
3. Keller: $322,845
4. Trophy Club/Westlake: $310,859
5. Grapevine: $252,812

And the top 5 cities in Northeast Tarrant County for the least average amount of days on the market:

1. Trophy Club/Westlake: 36
2. Watauga: 41
3. Roanoke: 52
4. Hurst: 54
5. Grapevine: 59

City	# of Sales	% Change vs. Prior Year	Average Sales Price	% Change vs. Prior Year	Average Days on Market	% Change vs. Prior Year
Bedford	18	29%	$170,806	0%	77	45%
Colleyville	18	125%	$450,670	-44%	112	-15%
Euless	13	-28%	$176,716	13%	68	45%
FW-Haltom City	26	24%	$59,430	-10%	67	-23%
FW-Northwest	58	-13%	$145,985	20%	100	25%
FW-Saginaw/North	61	-10%	$132,947	-2%	78	-7%
Park Glen/Heritage	63	-16%	$158,568	6%	67	-11%
Grapevine	20	11%	$252,812	20%	59	-29%
Hurst	20	-26%	$120,055	3%	54	-29%
Keller	37	37%	$322,845	0%	108	30%
North Richland Hills	39	-9%	$154,491	-6%	74	-16%
Roanoke	8	-11%	$171,597	19%	52	-51%
Southlake	30	88%	$638,557	-19%	118	64%
Trophy Club/Westlake	11	83%	$310,859	19%	36	-68%
Watauga	16	0%	$104,659	10%	41	-51%

Important Real Estate Advice for Both Buyers and Sellers

Helpful Advice for Buyers & Sellers in a Down Market

Below are some links to articles which provide helpful information for homeowners and anyone looking to buy or sell a home.  With the economy and the real estate market in such disarray, we need as much advice as possible to make the right decisions when it comes to protecting our most important asset, our home.  Please feel free to contact me to discuss how you can meet all your real estate goals during these difficult times.

Lowering Your Property Taxes

In Texas, we have no state income tax.  Therefore, much of the funding for public services must come from other sources.  One of the main sources in our state is property taxes.  Therefore property taxes may tend to be higher here than in other states, but there are tools homeowners can use to lower this expense.  There are numerous exemptions homeowners may use to limit the taxable value of their homes.  In addition, there are also procedures you can take to  challenge the amount of your property appraisal if you think it is too high or you were denied an exemption.  Know your rights!  Click here for the article.

Be Ready to Buy

The most important advice I can give a potential buyer is be ready!  If you find the home you want, then be ready to make a serious offer.  Even in a down market, you don’t want to behave foolishly and perhaps loose the home of your dreams.  Get pre-approved before you begin your property search and please be honest with yourself about how much you can actually afford.  Click here for the article.

Twelve Tips to Sell Your Home

I found a good guideline for sellers who don’t want their homes to idly sit on the market.  While there are forces beyond a seller’s control which can affect how long your home stays on the market, there are things sellers can do to increase their chances of getting their home sold as quickly as possible.  If you are having difficulties selling your home, give me a call and we can devise a marketing plan to get it sold!  Click here for the article.

Another Tip For Sellers: Any Time Is a Good Time

I understand when you’re selling your home that you may be concerned with strangers coming in and out of your home at all hours of the day.  While protecting your privacy is an important concern, it can become very difficult to sell your home if you limit its ability to be seen by potential customers.  The more exposure your home gets, the better.  If it is not selling, the more traffic you get means the more feedback you receive on potential issues preventing it from selling quicker.  Click here for the article.

Texas Is the Top Growing State in the Country!

Texas is the fastest growing state in the country according to a new study. Texas has 10 of the top 25 fastest growing counties in the entire country. California came in second place with 6 counties in the top 25. North Carolina and Arizona both had 2 counties in the top 25. The Texas counties in the top 25:

Harris (#2)
Tarrant (#5)
Bexar (#10)
Collin (#12)
Dallas (#13)
Travis (#14)
Fort Bend (#18)
Denton (#21)
Williamson (#23)
Hidalgo (#24)

Source: Real Estate Center at Texas A&M

Buying A Foreclosure Is Not Always A Good Deal

Here are a couple of interesting articles that you might want to check out:

Star-Telegram article about foreclosures.  Just because it’s a foreclosure does not necessarily mean it’s a good deal:

www.star-telegram.com/business/story/1282276.html

Updated Fort Worth Down Payment Assistance Program.  The City of Fort Worth has partnered with HUD to provide financial assistance to qualified homebuyers purchasing lender-foreclosed homes:

www.fortworthgov.org/hed/housing/?id=61060