Dallas Real Estate and Short Sale Blog: So Many Buyers, So Few Homes For Sale

So Many Buyers, So Few Homes For Sale

Sold2012 and 2013 were great years for the real estate market. We saw a solid recovery with increasing sales prices and a reduction in inventory sitting on the market. So here we are in the spring of 2014. We have lots of buyers looking for homes but few homes for sale. In some price ranges, homes going on the market are selling in hours.

I spent the past few weeks working with a first-time buyer looking for a home between $150k and $180k in Allen, Plano, McKinney, and Frisco. He made offers above list price on 3 different homes only to have the seller accept an even higher offer. It reached the point that we had to be out on the first day a home came on the market and make the offer that day. The good news is he is now under contract on a home.

If you are buying a home, you have to move fast and you have to make good, solid offers. The days of “low-balling” are over. “High-balling” is the new norm in the greater Dallas area.

If you are thinking about selling your home, there has not been a better time in the past 5 years. In this market you can get top dollar and sell in the shortest amount of time. Visit www.collinhousevalues.com for a quick online valuation of your home.

Contact us at 214-227-6626 if you have any questions or need additional information.

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Originally posted at http://www.thebranchteam.com/wordpress/2014/02/23/so-many-buyers-so-few-homes-for-sale/

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

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Comment balloon 4 commentsTom Branch • February 23 2014 01:05PM

Comments

Tom.  Do agents in your area use Escalation Clause Addenda??

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 5 years ago

I've never seen one done here.

Posted by Tom Branch, Broker, CDPE, SFR, ACRE, Plano TX Ambassador (RE/MAX Dallas Suburbs) over 5 years ago

Tom, we are seeing a similar thing here. We desperately need inventory. Buyers are being forced to buy new construction because there aren't enough homes to go around.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) over 5 years ago

Been there, done that. In 2006. But I'm having flashbacks to those days in San Antonio now!

Posted by Robin Rogers, CRS, TRC, MRP - Real Estate Investment Adviser (Robin Rogers, Silverbridge Realty, San Antonio, Texas) over 5 years ago

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