Local Market Conditions

Found 8 blog entries about Local Market Conditions.

I'm very excited about the activity we are experiencing this year compared to last.  (Although last year we were once again the NUMBER 1 TEAM at Keller Williams-Southlake... I had to add that small shameless plug.) The showings are up but it still appears offers are not happening yet.  Our online traffic is also on the rise.  Last year the market seemed to be geared toward the mid to lower price points.  I think the US Government Tax Credit helped.  This year we are seeing more activity in the upper price points which is encouraging.  I hope this is the year we get on track.  Texas is the NUMBER 1 Relocation Destination which can't hurt.  Our public schools continue to be great in our area.  If you have questions feel free to contact me. I'm here to help!
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5 Reasons You Should Sell Your House TODAY!


http://kcmblog.com/wp-content/uploads/2010/10/number-5.jpg  Selling your house in today’s market can be extremely difficult. It is for that reason that every seller should take advantage of each and every opportunity that appears. Each fall, such an opportunity presents itself. This fall, that opportunity may be just too good to pass up.

Below are five reasons you should consider when pricing your house to sell in the next 90 days. Meet with your real estate agent and mortgage professional today and see whether it is the right move for you and your family.

1. Entering this time of year, the buyers are more serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of

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Every house for sale in today’s real estate market must be sold twice. First, you must find a buyer ready, willing and able to purchase the home. Second, you must sell the value of that house to a bank so they will agree to lend money based on the negotiated price. The second sale may be more difficult than the first in the current lending environment.

A mortgage is necessary in the vast majority of real estate transactions in this country.  The buyer puts a certain amount of money ‘down’ and then borrows the remaining balance from a lending institution. The lending institution then issues a mortgage to the buyer using the house as collateral. In order to establish the value of the house (collateral), the bank will send out an appraiser.

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Currently, the Tommy Pennington Realty Group has 37 ACTIVE listings, 2 ACTIVE OPTION, 2 PENDING, 14 CLOSED and 3 offers on the table working on negotiations!  In a time when the media has all but given up on the housing market and called it "belly-up", we are thriving.  Demographically speaking, in the last 8-10 years alone, Southlake has seen at least a 23% increase in population and it's steadily on the rise.  States such as Florida, California, Illinois, Oklahoma and Louisiana are migrating to Texas and mainly the DFW area.  What does this mean to you?  Well, for starters, you can take it as a sign that the housing market, though having gone through a lull, is not dead.  We are actually on the rise from where we were this time last

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I'm excited to say the activity is on the rise.  You may ask: What listing price are these homes and where?  Both of these homes are in Southlake and around the 500K price point.  I have to say also both homes were updated and NO BRASS!  It amazes me of the amount of listing appointments I go on and give advise as a professional that sees homes everyday and talks to my 7 Buyer Specialists who KNOW WHAT BUYERS WANT and when I give these items don't always seem to get done.  Price your home correctly.  BUYERS want a "de-brassed" home. BUYERS want granite. BUYERS want fresh neutral paint. BUYERS want wood floors.  BUYERS want stainless appliances.  BUYERS want updated master bathrooms.  BUYERS want to just move in, period.  Now, I know it may be tough times.…
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Well... I'm excited that it is March 1st and we are getting busy.  We are seeing an increase in traffic.  I'm seeing homes in our market that are priced right and in great condition not lasting long.  You must be ready if you are a Buyer.  The good ones don't last long.  I STRONGLY advise the Buyers to realize we are not like other parts of the country that saw huge amounts of appreciation over the past several years when times were good.  Why is this important?  Most people here aren't getting rich when they sell and often are just covering their costs if they aren't losing money.  Homes here sell for what is currently FAIR MARKET VALUE.  Did you know most of our area (Northeast Tarrant County) the homes sell 96 - 98% of list price.  I have seen offers in…
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Every month in order to keep our Sellers in Northeast Tarrant County up to speed with our market we send them data that I feel is more valuable than what most people provide.  Anyone can come up with an average days on market, but when you have a huge range of prices I think you need to get more in tune with the truth.  Take a look at this link to Northeast Tarrant County Real Estate Market update. 
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