Dallas Real Estate and Short Sale Blog: Texas: Fairview

There is an alarming trend among many buyers of real estate these days. We're seeing more and more people who want to "place bids" rather than to "make offers" on a home.

Real estate is not eBay. While some real estate is sold in an auction format, the vast majority of sales are not. I realize that in some markets buyers are in full control given the volume of short sales and foreclosures, but in many places the markets are balanced and in some places there are seller's markets.

In the north Dallas suburbs, there is a severe shortage of good properties under $150k. Last weekend I was out with some first time homebuyers who had been looking for weeks. We found a home the first day it was on the market. By day 3 there were multiple offers and my clients actually had to offer more than list price in order to secure the contract. It's a seller's market for good homes under $150k.

I've seen buyers totally upset when their low "bid" was not countered while a more reasonable offer was negotiated and accepted. That's not to say that a lower offer is not appropriate at times such as with an overpriced property. However, throwing in a bid at 70 percent of market value on a hot property is usually a waste time.

Many investors use this approach but don't really care if hundreds are rejected while they look for the one seller who will sell at that price. The average home buyer will quickly become frustrated using this method.

Many of our younger buyers have grown up bidding online and to some extent bidding has become part of America's landscape. While I suspect this trend will continue in consumer goods, I don't think it will last in the housing market and certainly does not apply to seller's markets.

My advice is to know what kind of market you're looking in and use an appropriate strategy rather than always going in with a "bidding" strategy.

Photo licensed from iStockPhoto

Originally posted at http://www.thebranchteam.com/wordpress/2012/01/25/real-estate-is-not-ebay/

Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:

Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.

The housing market is Fairview is very stable. This month we'll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.

Median Sales Price

The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview. In November 201 the median sales price was $279,995 and it has risen to $307,900--a gain of 10 percent.

Days on Market

The Days on Market in Fairview remain stable at about 118 days. While this is slightly over the average in the local area, 118 days on market is still very good considering the higher price points in Fairview.

Months Supply of Housing

The months supply of housing is slightly over 7.9 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller's market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area. Fairview had an 8.3 month supply of housing in November 2010. It sits at 7.9 months now--a decrease of 4.2 percent.

See Recent Sales in Fairview TX | Fairview TX Homes for Sale

Feel free to contact us if you have questions or need any additonal information.

Photo: Copyright 2011 - Tom Branch | Source: NTREIS on December 30, 2011

Originally posted at http://www.thebranchteam.com/wordpress/2011/12/31/fairview-tx-market-report-november-2011/

Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:

Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.

The housing market is Fairview is very stable. This month we'll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.

Median Sales Price



The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview.

Days on Market



The Days on Market in Fairview remain stable at about 120 days. While this is slightly over the average in the local area, 120 days on market is still very good considering the higher price points in Fairview.

Months Supply of Housing



The months supply of housing is slightly over 7.5 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller's market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area.

See Recent Sales in Fairview TX | Fairview TX Homes for Sale

Feel free to contact us if you have questions or need any additonal information.



Photo: Copyright 2011 - Tom Branch

I’ve seen a number of things over the years but the latest one has me scratching my head. We have a specialized little subdivision in the area and a couple of agents from one of the larger brokerages have a corner on the listing market. I don’t have a problem with them cornering the listing market but what they’ve done next just seems wrong.

I was searching for properties in the subdivision and there were none in the MLS. I have an interested client so I drove through the neighborhood and found plenty of signs. I jotted down a couple of the addresses and tried to pull them up in the MLS…nothing.

I called the listing agent and asked for the details and showing instructions. I was told that the properties were non-MLS listings and only she can sell them. I asked about registering my client and then showing the home…”No…only I can sell those listings.” I asked about a referral fee for sending her my buyer…”No referral fees…your buyer will eventually call me directly.”

Why would any seller list a property and agree to keep it out of the MLS nor allow one of the 15,000 REALTORS® in the area to show and sell it? It makes no sense except for the listing agents and their brokerage. But are they really doing the best for their clients? I’d argue that the lack of competition actually creates lower prices and longer selling times.

If you’re listing your home, talk to the listing agent or read your contract to see if they will be placing the home in the MLS and to be aware of what they are offering to cooperating brokers.

Base Photo Licensed from ShutterStock

Source: http://www.thebranchteam.com/wordpress/2011/02/19/those-are-non-mls-listings-and-only-we-can-sell-them/

We recently decided that we wanted to go out and have dinner and take in the new movie, "The American" staring George Clooney.

Having driven past the new Villages of Fairview shopping center located on the northeast corner of Stacy Road and US 75, we noted a new Gold Class Cinema had opened.

We quickly purchased two tickets online. The first thing we noted was the theater had just 40 seats and an extensive food and beverage menu.

Upon our arrival, we checked in with the concierge and we were escorted into the lounge area where we pre-ordered our dinner and had a couple of cocktails while we waited for the theater to be ready. The lounge area has a large, well-stocked bar and is set up like being in a large living room with small pit groups of chairs and tables.

When the theater was ready, we were again escorted to our seats. The term "seats" does not do the seating justice. They are large electric recliners.  Feeling a bit chilled? The staff will bring you a blanket! During the previews we got comfortable and finished our cocktails.  Dinner arrived just as the movie started. Wanting something on the light side, we had both ordered the sliders. Quite tasty!

Click here to see a news report on the Austin location.  The Fairview theater is very similar.

At $125 it was not an inexpensive night out, but Gold Class is like flying first class. The movie...well...

We are pleased to announce that we have selected Nations Home Warranty to provide no-cost seller coverage for our listings. 

Nations Home Warranty is Headquartered in Dallas, Texas, with thirteen years of local home warranty experience. When it is hot or cold, they know it, and are here to help repair the appliances and systems in the home. 

Their residential service contracts include Customer Care Representatives who will "walk" with the homeowner to get the repairs completed. No phone jail! When the homeowner makes a phone call to Nations Home Warranty, there will always be a live person at the Nations Home Warranty end of the telephone line.

Click here to visit the Nations Home Warranty website.