The Real Estate Center at Texas A&M has released March 2009 sales statistics for Dallas real estate.

Number of Sales:  3,533
Down from 4,495 in March 2008

Average Sales Price:  $192,100
Down from $214,200 in March 2008

Median Sales Price:  $148,600
Down from $159,600 in March 2008

Total Listings:  26,346
down from 30,124 in March 2008

Months Inventory: 6.6
Up from 6.3 in March 2008

Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country. These factors haven’t started to affect Dallas real estate sales statistics for March, however. Soon, very soon.

Learn more about Dallas real estate at TexasHomeCentral.com.

Search all Dallas real estate and homes for sale.

Buying a Dallas home is one of the biggest investments people make, and the process usually begins with choosing a real estate agent. 

According to the 2007 NAR Profile of Home Buyers and Sellers, 79 percent of recent buyers used a real estate professional, while only 7 percent bought the house directly from the owner.

When choosing an agent, 43 percent of all buyers relied on friends, relatives and neighbors for referrals; that percentage jumped to 54 percent among first-time buyers. 

Nearly eight of 10 first-time buyers said the most important benefit of a real estate agent was helping them understand the process. Agents also help buyers become more educated consumers – almost half of all buyers said their agent pointed out unnoticed features/faults with properties they were considering. 

The relationship between a Dallas home buyer and his or her buyer’s agent must be based on trust, mutual goals and understanding. The buyer entrusts the buyer’s agent with putting his or her interests first and foremost. Here are some things to consider when choosing a Dallas real estate agent, compliments of LendingTree.com.
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I am asked constantly whether it’s a good idea to add a Realtor on to a new home contract. Is it a good idea or will a homebuilder penalize you by holding back on available incentives. Let’s discuss a few basic truths to answer that question.

SET INCENTIVES AMOUNT

The sales person in a new home model has a set dollar amount that they are allowed to use to discount the home in an effort to close the sale. That dollar amount changes month to month based on sales needs but there is rarely an opportunity to get more off on the home. Some weak sales people will give that money away the second you walk in the door. The good sales person will hold back and offer a little off the price to see where you stand and then offer just enough more to close the sale. This tactic makes you believe you got a better deal by negotiating them down when in fact they were playing on your emotions. They typically hold back on some of the money for later in the homebuilding process if something goes wrong and they need to offer money or free appliances to make the problem go away. Here is where a Good Realtor can make sure you get the full discount or more.

REALTOR COMMISSION BUILT IN

Close to 80% of all new home contracts are brought to the new home builder by Realtors. Due to this fact, the majority of new home builders place a 3% padding into the sales price to cover a Realtor’s commission. If a home buyer does not have a Realtor, that 3% goes to the builder’s bottom line and is rarely ever given to the home buyer. The sales person does not have the ability to give it away without the corporate office’s approval. It’s corporates job to increase margins not give money away. It has been my experience, both as a Realtor and as a New Home Sales Person for many years that having a Realtor on the contract does NOT hurt the deal. In fact, 9 times out of 10, a GOOD Realtor can get you a larger price reduction than the set discount amount using past new home sales and negotiating the price per square foot, etc.

OTHER BENEFITS TO HAVING A GOOD REALTOR

• A GOOD Realtor will know the new home builders and can assist you in choosing the right one based on quality and customer service, not just attractive floorplans.
• A GOOD Realtor will know which new home communities will not only fit your needs but will also provide you the best investment and resale in the future.
• A GOOD Realtor will be able to negotiate the best deal for you and help you keep your costs lower by suggesting which upgrades are really worth it and which ones can be done later at a huge savings. Builder upgrades are where they make most of their margins and usually upcharge over 100% on the actual cost. $500 in crown moulding will cost over $1,000 as an upgrade.
• A GOOD Realtor will be able to assist you during the home building process to identify real vs. superficial problems and help you make sure these issues are addressed and corrected.
• A GOOD Realtor will be able to identify whether using the homebuiler’s mortgage company is a good deal or if it’s better to use an outside lender. Often times, a builder will add incentives if you use their mortgage company. Nothing is free, their interest rate is usually higher (not always) which is why they can give the extra incentive money. Unless you plan to sell the home in less than 4 years (which is not wise unless the community is closed out), it’s almost always better to go with the lower interest rate.

Notice I said, “A GOOD Realtor”. Not every Realtor is going to know the ins and outs of the homebuilding business and ensure that you will get the very best deal. If you are in the market for a new home or simply have questions, please email me or call me at 800-326-9011 and I will be happy to help.

RESEARCH NEW HOME BUILDERS IN DALLAS FORT WORTH
Highland Homes
David Weekley Homes
Darling Homes
Huntington Homes
New Lineage Custom Homes

If you are thinking about selling your home in the Dallas Real Estate market, you will be happy to know that the Dallas area has one of the lowest average sales times in the country. According to research conducted my Altos Research Co., only Denver has a faster average sales time than Dallas. The report estimates that it takes about 80 days to sell a home in Dallas, compared to 110 days for the other cities surveyed. So, how do you beat the market average?

THERE ARE 3 WAYS TO SELL YOUR HOME QUICKLY!

1. Price your home to sell! If you prepare a truly accurate Market Analysis, then you will have a good idea of what price your home should sell for if it sells in the average sales time. If you want to sell faster than 80 days, then consider coming down on the price by $3,000 to $4,000. Anything more (on an average priced home) and buyers may think the price is too good to be true and worry. This will help your home stand out to a buyer’s agent and encourage the buyer to jump on a good deal. Research has shown that the average Dallas home, priced $4,000 below average market sales price, sold in significantly less time.
2. Stage your home to show! Have you ever wondered why new home builders stage their model homes the way they do? Simply put, homebuyers usually buy based on emotion, not logic. They have a hard time seeing past the clutter to image themselves living there. If you don’t have time to organize and unclutter, then simply stick everything in boxes and move it out of the house (temporary). Also, try rearranging the furniture to improve the flow of the house. Remember, less is more in staging a home. You show me a home that sold for top dollar quickly and I will show you a staged home!
3. Marketing, marketing, marketing! It is important, when interviewing Realtors, to know how they plan to market your home. Most Realtors have little or no marketing budget and merely list your home on the MLS. It is important to list your home in as many places as possible to make sure your home is in front of the right buyer at the right time. The Internet is not the only place to sell your home but it is an amazing sales tool. If you are going to take full advantage of this tool, the make sure you list your home with as many photos as humanly possible. Make sure you stage your home first as this will make your home look more appealing in the pictures. I would also suggest paying a hundred dollars and have a Virtual Tour done. Some Realtors will help cover the cost or pay for it themselves.

Also read, “Use Technology To Sell Your Home”

When listing your home online and on the MLS, your home should be listed with as many photos as possible. It amazes me when an agent (even very experienced agents) lists your home on the MLS without photos. Sure, they will eventually get the photos online but wow, what a missed opportunity! Hundreds of thousands of homebuyers subscribe to “just-listed” listings. Do you want the first impression of your home to be merely text? Do you think anyone will call to see your home? Nope! The MLS only allows a few photos but there are free services like Picasa that allow you to create a slideshow with virtually unlimited photos. Plus you can use the link to the Slideshow in the MLS which feeds to Realtor.com.

If you are interested in selling your home in the Dallas Fort Worth area and would like to speak with me, I would love the opportunity to show you how we can help sell your home quickly and for top dollar. We have a Real Estate office in McKinney and Flower Mound. Call us at 800-326-9011 or email us today!

Purchasing a home is probably one of the most important investments of your life. This involves additional responsibilities and major decisions which can generate stress and anxiety. It is important to ensure you make the most informed, intelligent decisions possible in regards to the details of your next home. Below are just a few of the many myths that we wanted to dispel.

Buyer’s Myth: A seller will reduce the sales price to compensate for a buyer not using a Realtor.

Buyer’s Reality: A seller will generally take this opportunity to pocket more money and not want to give that up. Statistics show that sales prices are lower when a Realtor is involved, not higher.

Buyer’s Myth: A smart buyer will always know when a sales price sounds like a good value.

Buyer’s Reality: There is a calculation involved when determining the price per square feet plus the individual amenities in a home. Then the numbers of comparable sales in the area must be factored in and so on. This expertise takes a lot of experience to really understand the market and values. List price and sales price can end up being very different.

Buyer’s Myth: I can examine a house as well as a Realtor and discover potential problems that need to be addressed in the initial offer.

Buyer’s Reality: Texas Real Estate agents have experience in determining whether potential issues are cosmetic items, or whether they need to be negotiated. A Realtor introduces their Buyer to a qualified Home Inspector who has invaluable knowledge in detected true problems. A great agent then negotiates the sales price with the help of the home inspector’s report.

A licensed REALTOR in Texas can be a great asset and their services are completely free to the buyer. Why take a chance on your own when you can have a team helping you make the right decision for you and your family?