Nov 27, 2014

North Dallas Thanksgiving home prices

Average sales prices for North Dallas homes peaked in June this year. However, the average sales price per square foot is still on the rise. How does that work?

This year, we've seen more sales of expensive, large properties and that has driven up the 'average sales price'. The current median sales price for a single family home between Northwest Hwy and LBJ, Midway Road and Central is $857,500.

This fall, we've seen home sales starting to return to normal with the supply and demand equaling out a bit. But the continued rise in the price per square foot indicates the home market remains healthy south of LBJ.The current average is $220 a square foot for single family homes.
[where: 75230]

Nov 24, 2014

Transitioning neighborhood - Midway Hollow

This delightful little neighborhood is still bargain priced for the area in 2014.

[where: 75230]

Nov 17, 2014

3 improvements Not To Do when selling your house

A customized, modernized home may sound wonderful when it's modified to your own needs and taste. But when it comes to selling your house and attracting a buyer, some “improvements” can actually lower the value of your property.
No seller wants to put money into a property if that investment won’t result in a return, or even worse, might discourage potential buyers.

Three typical investments that can actually decrease your home's value:

  1. Too much personality When it comes to selling a property, unique usually is not good. A home that’s for sale needs to have a broad appeal and be similar to others in the area. Skip the extravagant tiles, custom carpeting and bold wall colors, which can make your home more difficult to sell. Just keep the design neutral.
  2. Getting rid of a room or garage Don't even think about converting a garage space unless you’re also adding on a new garage. Take my word for it — almost every home buyer wants a garage more than they want whatever you are creating in its place. And typically, the more rooms a home has, the higher the value. Unless your house has many more rooms than most of those in your neighborhood, don't tear down walls to combine them. 
  3. Changing the function of a space Specialty rooms are great for lots of folks, but not for everyone. Think twice before converting a generic room or bedroom in to a gym, sewing room, studio or library. The typical buyer for your neighborhood may not want it. And most folks can't envision a room dramatically different from what they see in front of them. If you're going to use the room differently than its intended function, stay away from built-ins and elaborate changes. Even putting in a swimming pool at the expense of a grass yard can be a negative. Broad-based buyer appeal and consumer demand should be your guide.

If you're not selling your house, then current value isn't important. Customize any way you want. However, if you're considering selling your property, you’ll want to be sure you don't make these mistakes. Your individualized wants, needs and taste may not appeal to everyone. They can not only reduce your sales price but increase the time it takes to sell your home.

Nov 12, 2014

Dallas Real Estate still strong in Nov 2014

Home sales in North Dallas remain strong and the DFW housing market is still booming. The graph below shows the impressive 2014 dollar volume of single-family home sales through our MLS system throughout North Texas. And this is just for single-family, existing homes. It doesn't include the surge in condos and new construction. Click on the graph to view it larger.

You can see that dollar in October was up 22% over last year’s all-time best October. We've seen both higher transaction counts and higher average sales price.

With the continued population boom throughout the Metroplex area, our housing market looks set to continue to remain strong into 2015.
[where: 75230]