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Home Selling in North Dallas : Real Estate Advice

  • All56
  • Local Info3
  • Home Buying25
  • Home Selling4
  • Market Conditions1

Activity 4
Thu Mar 13, 2014
Tommy Burris answered:
Typical from a weak realtor.
All you can do is say no.

It is a good thing that they show you ways to sell the home faster and for top dollar. But if you do not have the funds..... Say no.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
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Fri Nov 19, 2010
Patterson Rausch Residential answered:

Your agent can help you with the current comps, as a Zestimate is not always a good indicator of value. Personally, I wish my Zestimate was right for my home, but that9;s another story. Sit down with your agent and go over the current comps (similar properties that have sold in the past 3 - 6 months and within a mile of your home) and see if you're priced right. Give greater weight to homes that have sold within the same subdivision or complex.

As for the market in general, things do slow down for the holidays, they pick up in the early spring and peak in May - generally. It was completely thrown off this year with the tax credit and the April deadline. This summer was very slow for many, many folks.

That said, there are still buyers out there and it sounds like you're on the right path with upgrading everything. This market has produced two kinds of buyers, the ones that want a steal of a deal and those that want the newly updated/upgraded. I've heard say it's a beauty contest and a price war.

Hope this helps.

Best Regards,

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Mon May 28, 2012
Kim Nwachukwu answered:
Jack, no, no and no! Not in today's economic climate. Listing it for $25K under is a smart move on your part, it shows you are motivated and ready to move the home. My marketing effort is exemplary and will get your home noticed, then beyond that it is the listing agents' job to let the buying public know WHY the home is listed at a discount. I say go for it, and I would be happy to discuss a full front assault marketing effort with you through my efforts with Ebby Halliday, REALTORS, the number 1 brokerage in North Texas. Best regards, Kim with Ebby at 214-695-3015. ... more
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Wed Sep 8, 2010
Don Tepper answered:
First, a caveat: I don't know the Plano market. And a second caveat: I'm a Realtor, so you may consider my view less-than realistic. Still . . .

Yes, homes in most areas of the country (and I'd include Plano) will sell. The market will recover. There are a few areas--for example, certain areas around Detroit and elsewhere in Michigan, as well as some in other areas of the Midwest--where I'm not so sure the market will ever recover. Or at least not for 20-30 years. But those areas of really deep depression, coupled with a significant loss of jobs, are fairly rare.

There are plenty of other areas--parts of California, Nevada, and Florida--that are probably far worse off than Dallas. And California, Nevada, and Florida will all recover. I'm not saying this year, and I'm not saying next year. But they will.

The question is one of timing. I'll defer to any agents familiar with Dallas and the surrounding areas. But prices have already strengthened in some areas--Northern Virginia (where I am) being just one. I'd say 2-3 more years in areas that weren't terribly hard hit when the bubble burst. And I'd say 5-6 years in the harder-hit areas.

There is a school of thought suggesting that things will get worse once the tax credit ends. That could be correct. However, to the extent that prices may decline some, it'll make home prices even more affordable. The real driver, though, won't be the tax credit. And it won't be much else directly related to real estate. Instead, it'll be the whole employment situation in the United States. If unemployment drops from the current 10% down to 7% or so (which may take a few years), that'll help greatly. Plus, in addition to the unemployment numbers, there's also a question of consumer confidence. Even though most people have jobs, and most people won't lose them, right now there is substantial fear about the possibility of job loss or job cutbacks. People have to feel confident again before they'll be ready to go out and buy.

There are some other factors involved, too--such as the rate of inflation and the cost of money. Inflation is likely to rise, and the Fed at some point will feel the pressure to raise interest rates to try to slow down inflation. That'll depress the housing market.

There's also the fear that banks are holding back on releasing many foreclosures back onto the market and that--once they do--that'll depress housing values.

So, what's that all mean? Short-term, slow improvement, especially in areas that weren't too hard hit when the bubble burst. Medium-term, continued improvement so long as the unemployment rate continues to fall. But there will be a number of forces--inflation, higher interest rates, release of foreclosed homes--that will slow down a housing recovery.

I know that's not the definitive prediction you may be seeking, but I think it's a realistic view . . . even if it is from a Realtor!

Hope that helps.
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