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Bill Head
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Inventory remains low and rapid price increases continue to be a factor in the Arlington housing market. Even with some new construction adding to the supply of homes in Arlington, average prices increased 7.2 percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Arlington, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 287 homes were sold in Arlington in February, a 5.1 percent increase from 2016. The dollar volume of sales in the county increased 12.7 percent year-over-year to over $59.6 million. New construction was up 30 percent over 2016.

Arlington’s monthly housing inventory was 1.1 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 37 days on the market in February. There were 424 active listings for the Arlington housing market.

February 2017

  • 287                         Homes sold, 5.1 percent higher than February 2016.
  • $195,500               Median sales price for homes, 18.5 percent more than February 2016.
  • $207,890               Average sales price for homes, a 7.2 percent increase over February 2016.
  • 1.1                          Monthly housing inventory in February 2017.
  • 37                           Average number of days homes spent on the market in February 2017.
  • 424                         Active home listings on the market in February 2017.
  • $100                       Average price per square foot for a single family home, up 11.8 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head
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Inventory remains low and rapid price increases continue to be a factor in the Allen housing market. With little new construction adding to the supply of homes in Allen, average prices increased 9.1 percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but we’re just not seeing that in Allen yet. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 101 homes were sold in Allen in February, a 2 percent increase from 2016. The dollar volume of sales in the county increased 11.3 percent year-over-year to over $35 million. The average price in February was $351,330 up 9.1 percent from last year.

Allen’s monthly housing inventory was 1.3 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 30 days on the market in February. There were 191 active listings for the Allen housing market.

February 2017

  • 101                         Homes sold, 2.0 percent higher than February 2016.
  • $309,000               Median sales price for homes, 3.0 percent more than February 2016.
  • $351,330               Average sales price for homes, a 9.1 percent increase over February 2016.
  • 1.3                          Monthly housing inventory in February 2017.
  • 30                           Average number of days homes spent on the market in February 2017.
  • 191                         Active home listings on the market in February 2017.
  • $133                       Average price per square foot for a single family home, up 10 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head
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Inventory remains low and rapid price increases continue to be a factor in the Addison housing market. With no new construction adding to the supply of homes in Addison, median prices increased nearly 12.3 percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but we’re just not seeing that in Addison yet. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 13 homes were sold in Addison in February, a 7.1 percent decrease from 2016. The dollar volume of sales in the county increased 18.7 percent year-over-year to over $4.7 million. The average price in February was $634,708 up a stunning 27.8 percent from last year.

Addison’s monthly housing inventory was 1.0 month in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 33 days on the market in February. There were 16 active listings for the Addison housing market.

February 2017

  • 13                           Homes sold, 7.1 percent lower than February 2016.
  • $360,000               Median sales price for homes, 12.3 percent more than February 2016.
  • $364,708               Average sales price for homes, a 27.8 percent increase over February 2016.
  • 1.0                          Monthly housing inventory in February 2017.
  • 33                           Average number of days homes spent on the market in February 2017.
  • 16                           Active home listings on the market in February 2017.
  • $183                       Average price per square foot for a single family home, up 14.9 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head

The coming of March brings to mind spring, college hoops, and the annual St. Paddy’s Day festivities on Greenville Avenue. Unfortunately, it’s also the time of year when severe weather can rage across North Texas. We’ve all seen what kind of damage high winds, tornados, lightning, large hail and flooding can do. As Realtors, we know how long it can take to recover when disaster strikes. Want our advice? Take some time this weekend to prepare before severe weather season kicks into high gear.

First, create an emergency preparedness kit and evacuation plan for your household. At the very least, make sure you know where your flashlights are and that the batteries in them are fresh. Have a supply of emergency candles and waterproof matches ready, too. Better yet, go online and find a list of all of the supplies you should have ready in case of emergency. One of the best resources around is the list available on the Department of Homeland Security’s ready.gov/kit.

Make sure you understand how your insurance claims process works, so you can quickly get your life and home back to normal. Call your agent before there is an issue to get an understanding of what to do if disaster strikes. Don’t be afraid to ask questions. Your agent wants you to know the process so if something does happen, you can be prepared.

Aside from the immediate emergencies like food, medicine and shelter, probably the most heartbreaking part of recovering from a disaster is the financial crisis that so often follows. It’s the problems of losing immediate access to money and identity that linger longest and cause the most stress. Having a disaster plan to handle finances and identity recovery is absolutely critical. Start by making a copy of everything in your wallet, as well as birth certificates, passports, social security cards and other vital documents. Make a list of all of your bills, such as health, car and home owners insurance, mortgage, and auto loans. Include account numbers, customer service number and address on your list. Take pictures of your property before a disaster. Include valuables. Store all of this information on a pair of memory sticks. Keep one in a waterproof, fire safe box you can grab and take with you in an emergency. Put the other in a bank vault or give to a trusted family member in another location. Make sure someone else knows that it exists. Ensure you have online access available to banking and investment accounts, and make sure someone else knows about them as well.

There’s a very good chance that the most you’ll ever need is a pair of flashlights and a safe place to shelter from a strong hail storm. Let’s hope so. Experience has shown, however, that it’s far better to be prepared to get through a disaster than be caught in one only to get stuck in the nightmare.

The MetroTex Association of REALTORS is the largest professional real estate association in North Texas. Comprised of more than 18,000 real estate professionals, MetroTex is celebrating 100 years of service to the community in 2017. To connect with a MetroTex Realtor, or to find information about buying, leasing, or selling a home in North Texas, visit dfwrealestate.com.

Bill Head
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Do you want lower property taxes? Would you like to avoid paying a tax when you buy or sell real estate?

If you’re in favor of those ideas, I’ve got good news: The MetroTex Association of Realtors worked hard during the legislative session in 2015 to pass a bill ultimately approved by 86% of voters that increased the homestead exemption by $10,000 and constitutionally banned real estate transfer taxes.

Those measures are already saving you real money, and MetroTex isn’t done.

This legislative session, the association and its members will work on eliminating the hidden property tax in Texas. This includes reforming the property appraisal and tax rate setting process to ensure a more transparent and honest conversation at the local level as well as advocating for additional state aid in the school finance system.

MetroTex will also closely monitor any proposals to change our state’s home equity laws. Why? Realtors were the driving force behind strong consumer protections in home equity legislation passed a few decades ago. Those safeguards are a big reason Texas was not hit as hard during the last real estate downturn as states like California, Nevada and Florida. We want to ensure that any changes designed to improve home equity lending don’t come with unintended consequences that put homeowners and the Texas economy in jeopardy.

MetroTex will be supporting proposals to decrease traffic congestion and looking for other ways to keep the state’s economy healthy. It’s a tall order. But Realtors have been working for years on behalf of the citizens of Texas to make our great state a better place to work and live.

We do this by staying up to date on legislative news affecting Texas—and sharing that information with friends, colleagues and clients. Realtors volunteer on committees that examine issues affecting the real estate industry and property ownership. We contact our elected officials—thousands of us will visit the Texas Capitol in April.

Yes, the 110,000-plus Realtors in Texas help you buy, sell and lease property. But we also protect private-property rights, advocate for property owners and work to keep homeownership affordable.

Learn more about how MetroTex and the Texas Association of Realtors work to protect the interests of homebuyers at texasrealestate.com.

You can always get great referrals for interior designers from your MetroTex Realtor. Or, for information about buying, leasing, or selling a home, visit dfwrealestate.com.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest Realtor association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head

Don’t be too gender-specific in shared spaces. Living rooms and master bedrooms should appeal to everyone. Get rid of features and accessories that seem too gender-specific. Paint the walls a neutral color and choose bedding and accessories that complement the overall color scheme.

 

Don’t let loose boards trip up your deal. An old deck can be a big liability, especially if it has a loose board or railing that could cause splinters or make someone trip. Freshen up your deck by replacing rotted boards, lightly sanding and then staining. Wash deck furniture and add some fresh pillows to liven up the space. Add some fresh potted plants and place settings to make the space feel like it’s ready to entertain.

 

Don’t go to the dark side. Cool and cozy are appealing features to some buyers, but dark and dreary isn’t on anyone’s list. Pull up the blinds, open the curtains, and turn on all the lights. Add more lamps to dark corners. No one ever complains that the house they were viewing was too well-lit. Make your house as bright and airy as possible.

 

Don’t confuse buyers. Rooms have a purpose. Stage them so buyers know what it is. Clear out excess furniture and try to give each room a focal point. Even if you have successfully used a room for several purposes over the years, don’t assume your buyers will want to do the same. Let them believe you have exactly the space you need and it has one clear purpose.

 

Don’t raise a stink. Pets and great food are wonderful things, but buyers don’t want to know that Fluffy lives here, or that your favorite meals begin and end with garlic and Roquefort. If you have pets, you will most likely need to old carpet which, in all honesty, probably smells even if you don’t notice it. A fresh coat of paint will help neutralize odors as well.

 

Don't spend a lot to stage or renovate. Don’t assume you can predict the finishes the new owners will want. Fix the things that are broken and worn out but don’t go overboard. It’s more important that the home feels clean and maintained than on the cutting edge of home improvement television style. You can pick up some trendy accessory pieces if you like, but limit those as well. Remember, we are trying to clear away clutter! Also, don’t buy a lot of new furniture to stage the space. Pare down and simplify or rent staging furniture if necessary, but save your budget for your new home.

 

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members. Go to dfwrealestate.com to find a realtor or find your next home.

Bill Head
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The new year came roaring into the North Texas housing market, shattering records both old and new. Even the decade-old record for number of homes sold in the month was surpassed by nearly eight percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Traditionally January is our slowest month of the year,” said James Martin, president of MetroTex. “We’ve never reached $1.6 billion in sales in January, or closed more than 5,800 transactions in the first month of the year. It certainly looks like the spring market will be even more active than it was last year. That’s pretty astonishing when you consider the rate of growth our market has been experiencing.”

According to the report, 5,863 homes were sold in North Texas in January, an 8 percent increase from 2016. The dollar volume of sales in North Texas increased 21 percent year-over-year to $1.6 billion. The average price in January was $273,057 up 12 percent from last year.

North Texas’ monthly housing inventory rose to 2.7 months in January, despite the very low inventory in many markets. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 49 days on the market in January. There were 16,092 active listings for the North Texas housing market during the same time frame, a 1 percent drop.

Waxahachie Residential Market for January 2017

  • 28                           Homes sold, down 12.5 percent from January 2016.
  • $186,000               Median sales price for homes, 5.7 percent higher than January 2016.
  • $219,962               Average sales price for homes, a 20.9 percent increase over January 2016.
  • 2.0                          Monthly housing inventory in January 2017.
  • 38                           Average number of days homes spent on the market in January 2017.
  • 99                           Active home listings on the market in January 2017.
  • $104                       Average price per square foot for a single family home, up 17.5 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head
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The new year came roaring into the North Texas housing market, shattering records both old and new. Even the decade-old record for number of homes sold in the month was surpassed by nearly eight percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Traditionally January is our slowest month of the year,” said James Martin, president of MetroTex. “We’ve never reached $1.6 billion in sales in January, or closed more than 5,800 transactions in the first month of the year. It certainly looks like the spring market will be even more active than it was last year. That’s pretty astonishing when you consider the rate of growth our market has been experiencing.”

According to the report, 5,863 homes were sold in North Texas in January, an 8 percent increase from 2016. The dollar volume of sales in North Texas increased 21 percent year-over-year to $1.6 billion. The average price in January was $273,057 up 12 percent from last year.

North Texas’ monthly housing inventory rose to 2.7 months in January, despite the very low inventory in many markets. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 49 days on the market in January. There were 16,092 active listings for the North Texas housing market during the same time frame, a 1 percent drop.

The Colony Residential Market for January 2017

  • 47                           Homes sold, up 46.9 percent from January 2016.
  • $225,000               Median sales price for homes, 12.5 percent higher than January 2016.
  • $263,999               Average sales price for homes, a 21.5 percent increase over January 2016.
  • 1.4                          Monthly housing inventory in January 2017.
  • 34                           Average number of days homes spent on the market in January 2017.
  • 76                           Active home listings on the market in January 2017.
  • $124                       Average price per square foot for a single family home, up 15.9 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head
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The new year came roaring into the North Texas housing market, shattering records both old and new. Even the decade-old record for number of homes sold in the month was surpassed by nearly eight percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Traditionally January is our slowest month of the year,” said James Martin, president of MetroTex. “We’ve never reached $1.6 billion in sales in January, or closed more than 5,800 transactions in the first month of the year. It certainly looks like the spring market will be even more active than it was last year. That’s pretty astonishing when you consider the rate of growth our market has been experiencing.”

According to the report, 5,863 homes were sold in North Texas in January, an 8 percent increase from 2016. The dollar volume of sales in North Texas increased 21 percent year-over-year to $1.6 billion. The average price in January was $273,057 up 12 percent from last year.

North Texas’ monthly housing inventory rose to 2.7 months in January, despite the very low inventory in many markets. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 49 days on the market in January. There were 16,092 active listings for the North Texas housing market during the same time frame, a 1 percent drop.

Southlake Residential Market for January 2017

  • 26                           Homes sold, up 8.3 percent from January 2016.
  • $651,000               Median sales price for homes, 6.3 percent higher than January 2016.
  • $761,305               Average sales price for homes, an 11.1 percent increase over January 2016.
  • 3.2                          Monthly housing inventory in January 2017.
  • 103                         Average number of days homes spent on the market in January 2017.
  • 146                         Active home listings on the market in January 2017.
  • $189                       Average price per square foot for a single family home, up 8.8 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Bill Head
Pin on Pinterest

The new year came roaring into the North Texas housing market, shattering records both old and new. Even the decade-old record for number of homes sold in the month was surpassed by nearly eight percent, according to the market report released today by the MetroTex Association of REALTORS.

 

“Traditionally January is our slowest month of the year,” said James Martin, president of MetroTex. “We’ve never reached $1.6 billion in sales in January, or closed more than 5,800 transactions in the first month of the year. It certainly looks like the spring market will be even more active than it was last year. That’s pretty astonishing when you consider the rate of growth our market has been experiencing.”

According to the report, 5,863 homes were sold in North Texas in January, an 8 percent increase from 2016. The dollar volume of sales in North Texas increased 21 percent year-over-year to $1.6 billion. The average price in January was $273,057 up 12 percent from last year.

North Texas’ monthly housing inventory rose to 2.7 months in January, despite the very low inventory in many markets. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 49 days on the market in January. There were 16,092 active listings for the North Texas housing market during the same time frame, a 1 percent drop.

Rowlett Residential Market for January 2017

  • 62                           Homes sold, up 10.7 percent from January 2016.
  • $246,000               Median sales price for homes, 14.3 percent higher than January 2016.
  • $273,777               Average sales price for homes, a 20.5 percent increase over January 2016.
  • 1.4                          Monthly housing inventory in January 2017.
  • 29                           Average number of days homes spent on the market in January 2017.
  • 127                         Active home listings on the market in January 2017.
  • $109                       Average price per square foot for a single family home, up 13.8 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.