Room for negotiation on Southlake homes?

Asked by l_monteith, Southlake, TX Tue Sep 25, 2012

I may be moving to Southlake and have looked at multiple homes in the $600,000 to $1,000,000 price range. I would use a realtor when the time came, but for now I am wondering how much room most of these sales are willing to move down. I am just not that famaliar with how strong a housing market it currently is in Southlake.

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17
Sue Darden, Agent, Keller, TX
Sat Sep 29, 2012
Congratulations! Southlake is a wonderful, higher end, desireable city to live in. You will be pleased with your decision to move here. Because of this, Southlake enjoys a strong housing market as a city. On average, homes sell currently at 98% of asking price. There are so many factors that affect this though. If the seller has hired a realtor that studies and is current in market trends, home and yard condition compared to competition, neighborhood conditions, drive up appeal, and what the current buyers are looking for. And if that realtor is good at convincing homeowners to prepare house for sale, letting homeowner know what to update and what to clear out. If the homeowner and realtor price the home to sell, they have everything prepared compared to the competition, they will get offers and not have to negotiate on price much at all. If any of these things are not taken into consideration, home price is more negotiable. This is true in any home selling project, no matter price range.
1 vote
Susan Fleming, , Southlake, TX
Tue Mar 12, 2013
Hello, I can email you properties, even if now is not the time, at least you can see what is out there and what to expect. I can share with you the cycles of Southlake. You can call, text or email. Susan Fleming, starkfleming@yahoo.com, (940) 783-0635
0 votes
Miekeba Jones, Agent, Silver Spring, MD
Sun Feb 3, 2013
Hi I_monteith, Why wouldn't you want to work with a South lake Realtor now?
0 votes
The United H…, Agent, Mansfield, TX
Sun Feb 3, 2013
"MEETING YOUR NEEDS AND EXCEEDING YOUR DREAMS!"

Anything and everything can be obtained if you have realistic goals . Parts of southlake can have a very strong market however right now what will real dictate on how much they can come down is EQUITY. Example: If someone purchased an estate in 2008 chances of being able to sway there sales price is harder than someone who has their estate completely paid off. Please feel free to contact me directly I promise I wont be pushy and in the end you will save a great deal of time and money in your search. Many of these sites are out dated and don't enclose a great deal of information on properties of interest. I'll await your call/email thank you.

Keller Williams Realty
3xUS Army Vet/ Real Estate Consultant
Joseph Fernandez
off: 817-635-1157
web: http://www.blissful-estates.com
blog: blissfulestates84.blogspot.com
trulia: http://www.trulia.com/profile/josephfernandez/
0 votes
Brandon Mont…, Agent, Frisco, TX
Mon Jan 28, 2013
The market in Southlake is pretty strong. Homes are moving quick. There is ALWAYS room to negotiate! Thats the name of the game and the reason you use a REALTOR. We can get you into an amazing home in this area. If you haven't already found a home, don't hesitate to shoot me and email or call me at anytime. I'm in Southlake everyday! I can sit down with you over coffee and show you what is out there right now!

Thanks
Brandon
brandonmontgomeryrealestate@gmail.com
817-880-5182
0 votes
Glenda Greer…, Agent, Southlake, TX
Mon Jan 21, 2013
Southlake, is a strong housing market. There are always opportunities to find homes that are priced below market, or homes that have owners that are more motivated than others. You need an ABR - Accrediated Buyers Representative who knows the area and can work for you in your search. There are opportunities to be found and a great agent can assist you in that. Best Regards, Glenda Greer
0 votes
phumphries, Home Owner, Southlake, TX
Sun Oct 28, 2012
I live in Clariden Ranch sub division. This is on the North side of 114 (a preferred location). There only a few lots left here - and a fairly good selection of homes for sale. However, over the 6 years we have lived here (built the home), the lots have gone from Rare to precious.
0 votes
Kalena Cook, Agent, Dallas, TX
Thu Oct 4, 2012
The housing market here in Southlake is strong because of several reasons:
1. Exemplary schools know as Carroll ISD which rivals Highland Park School District in Dallas
2. Beautiful award-winning design to city. Just look up Southlake Town Square!
3. Location: easy commute to DFW airport, DFW connector project shall make commute to Dallas or Ft. Worth smoother also.
There's more...!

If you are looking for realtor who can set you up on a customized search and one who lives and works in Southlake, let me know!

Call or visit SouthlakeRealtor.com
Kalena Cook
Ebby Halliday Realtors (#1 in North Texas)
214-478-8980

kcook8@verizon.net
0 votes
Lucy Puniwai, Agent, Haslet, TX
Sat Sep 29, 2012
I have negotiated many sales in Southlake. There are many extenuating curcumstances that are relative to the offer. How long has the home been onthe market? Has the Seller completed a "Sellers Disclosure " which we would review prior to making an appointment to view the home. How does the home place in a marekt analysis. What comps are available to use in making the offer. After the offer is made and you hire an Inspector, what does the Inspector find? Will the Seller pay for any of these repairs or do you need to lower your offer? The Option Period provides us time to determine what the next move is. Does the Seller own the home outright or is it part of an Estate?
There are many contributing factors that are pursued along the way - even after the original offer is made. I work in real estate full time and provide due diligence like a private investigator.
There are many developments in Southlake. Depending on the age of the home, I would want to know if the roof and/or foundation are still under warranty? How does the property compare in property tax appraisals versus the neighborhood tax appraisals? Allow me to interview when you are ready. I am a hard working Realtor and I only work 3 contracts at a time so I am focus on my client's needs and be readily available when my clients need me.

Best wishes,

Lucy

Lucy A. Puniwai
REALTOR®
(214)783-6416 – Cell/Text
(682)224-8050 – Fax
puniwai@fathomrealty.com
Facebook: https://www.facebook.com/NorthFORTworthRealtor
Facebook: https://www.facebook.com/Alliance.Haslet.NorthFort.Worth.Tex…

In God We Trust
0 votes
John Straub, Agent, Fort Worth, TX
Tue Sep 25, 2012
Good Afternoon!
I think the agents below have done a great job of telling you what is going on in the greater Southlake area for homes. The agent that you hire needs to dig to find what information is out there on the home you are interested in before you decide to make an offer. This goes beyond the Market analysis into search for as much data as possible. While the market overall has picked up a great deal, the $600,000- $1,000,000 price range precludes most home buyers in the metroplex. This narrower pool of buyers for this price range means sellers often expect that they will negotiate. This discussion is going to be very general at this point because we are talking about the market in general. Please call me and let's discuss the specifics of what you want.

John Straub
Keller Williams Realty
817-729-4281
john@dfwfamilyrealty.com

http://www.dfwfamilyrealty.info
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Sep 25, 2012
Don't believe what the media states... FACTS are via MLS .

1. Each home stands on alone based submitting any sales offer.
2. No generic comment can stand for that particular home.
3. Housing market is extremely strong here in entire DFW area , many homes could have 5 sales offers.
4. EXAMPLE: My client is closing on a GREAT HOME, GREAT LOCATION , here within next several days... it is a commodity property ... rare for DFW area .. when I market gains strengths the resale value will offer GREAT PROFIT for this new home owner... of approx. $200K or more based on number of years they want to hold it...

Happy to assist you .

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
News Personality On Air Radio Show
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes
Bruce Lynn, Agent, Coppell, TX
Tue Sep 25, 2012
As others have said it always depends on the house. Some you may have to bid over asking price to get, some you may be able to get a significant reduction.
You can see the averages at this link under section 125 which is Southlake. Average list to sales price is 98%...so people are pricing pretty close to what buyers are willing to pay. This is up 1% over last year.
http://recenter.tamu.edu/mls/ntreis/table61b.html
You can also see in this chart Day on Market is down 30% year over year to just 62 days on market. So houses are selling.
On average I'm guessing you can typically take less off at $500,000 than at $1,000,000. or above.
At about the $500,000 range I just helped a customer buy one about 6% off the asking price, so bigger discounts do happen occasionally.

I did run into a real interesting short sale today, so if you're interested in homes like that just let me know. You can also search Southlake homes here:
http://www.metroplexhomesalesinfo.com/listings/areas/50026/m…

If you can go up to a million, you might also consider Westlake. There won't be a lot of choices, but occasionally one appears:
http://www.metroplexhomesalesinfo.com/listings/propertytype/…

Just let us know if we can assist you in any way with more stats, or prices, or of course your home search.
0 votes
Shelly Sierr…, Agent, Southlake, TX
Tue Sep 25, 2012
Southlake is a very strong and desirable market. Each home is different, depending on the specific community, area, schools. As a buyers agent, I run comps on each home that my clients are interested in making an offer on to see what the exact comps are for that particular home. Overall, there is generally room for some negotiation. Again, it depends on the particulars of each home, how long it has been on the market, the sellers situation etc. Your buyers agent will be able to research the homes for you to give you a good idea of what to offer.
I would welcome the opportunity to earn your business when you get here. Feel free to contact me if you have any specific questions or concerns.
Have a great day!
Shelly
0 votes
Gisela Kayfus, Home Owner, Keller, TX
Tue Sep 25, 2012
They say there is always room for negotiation but how much depends upon many factors; seller motivation, equity, relocation company involvement, property condition, buyer interest, DOM ect. There is no straight answer across the board. Sales in this area are and have always been strong. Recently the NE Tarrant area has been experiencing a "sellers" market whereas many buyers find themselves in a multiple bid situation and must give their highest and best offer right off the bat, which many times is or exceeds list price. Your agent will need to pull the comparable to give you a good idea of what the home will most likely sell for. In a multiple bid situation all bets are off.
0 votes
Jolynn Blake…, Agent, Colleyville, TX
Tue Sep 25, 2012
It can really depend on the financial situation of the seller. If they are moving and need to sell right away the price will be more negotiable. If they are just trying to down size they might not be as willing to drop the price. The number of days the home has been on the market also plays a roll in pricing the offer. Homeowners expect a sales price closer the asking price within the first month. Your real estate agent should check the comparables in the neighborhood and try to come up with justification for a low offer. If your offer is too low with out justification the owner can become "offended" and not willing to work with you to achieve a mutually beneficial outcome. Most people are expecting at least 1 percent off the asking price but depending on comparables and circumstances of the sale you may be able to get as high as 6 percent.
0 votes
Bruce Ericks…, Agent, Irving, TX
Tue Sep 25, 2012
Per our MLS through August in Southlake total sales year to date versus last year are up 36%. And the List Price vs Sales Price is 97% and that is an improvement over 96% last year. Southlake is doing better than many communities around the the Dallas / Ft Worth metroplex but it has not excaped the down turn in real estate activity and values..

But don't let these number scare you from purchasing just becasue real estate has not suffered the deep drop like other areas. Southlake is a great community with good people, shopping, schools, and homes.

And when it comes to making an offer let each home and the sellers situation dictate how you structure your offer. A good buyers agent working for you can give you a lot of information about a paticular home and how to make the best offer that works for you.

If you would like help finding a good agent I would be glad to refer one to you to interview.

Good luck with your home search.

Bruce Erickson
Cell 214-213-6382
0 votes
Amy Steele, Agent, Southlake, TX
Tue Sep 25, 2012
The Southlake market is very strong but depending on the home and what it's listed for with regards to the rest of the neighborhood there is usually room for negotiation. As a Realtor I run comparable properties and do an analysis of actives, pendings and solds to make sure you are paying fair market value for the property. If you have specific questions please feel free to call or email me.
Take care,
Amy
0 votes
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