Friday, 18 August 2017

Desperate need for inventory in Dallas...Good Problem to Have!

Written by Posted On Saturday, 11 January 2014 20:33

It’s January and we’re all at the starting gate waiting for more inventory to come on! No signs of a depressed market here! The Dallas market is depleted in most price ranges in most markets. The Park Cities is hungry for property in pretty much all prices! Lots are scarce across the board. About half of the new starts are “pre-sold” and custom builds. There are very few spec homes available. The starter home price range has jumped between $800,000-$1,100,000 for possibly a 3-2. There are slim pickin’s in the $1,500,000-$2,000,000 range. There are a few good homes in the $2,000,000-$4,000,000 range. There is still a good supply of homes over $5,000,000 with a handful of buyers looking. Devonshire, GreenwayParks and Bluffivew have very little to choose from at this posting. Preston Hollow still has a good supply of homes between $900,000-$1,500,000 and there are some wonderful homes in the upper end price range in the estate area of Old Preston Hollow. The Lakewood area is dry with no supply in the $300,000-$600,000 range….there is a better supply in the upper price range.

All in all, it’s difficult to find anything decent for  young couples starting out looking in the price range of  $300,000-$600,000 anywhere south of LBJ. That’s not to say there aren’t any, they just usually sell before hitting the market. That’s why it’s so important to work with an agent that has her/his ear to the ground and is connected in several network groups.

SO….if you are thinking about selling, you should take advantage of the lack of inventory and sell now! I would be glad to help you!

We do expect more inventory to be coming on especially with interest rates on the rise…It’s also best to sell now before the on slot of homes come on in the spring…more competition! But it’s also the best time to buy now because rates are expected to be their highest the second half of 2014. The frenzy of 2013 has slowed dramatically but 2014 should be another banner year in Dallas, Texas…..people are still moving here in droves! But why not, it’s the best place to live! ( read to see why: http://noralane.realtytimes.com/marketoutlook/item/26579-move-to-texas-and-get-a-free-bmw)

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Nora Ling Lane

"It's a privilege to work with my clients. I am humbled and blessed to serve their Real Estate needs."

When asked about the secret to her success in real estate, Nora Ling Lane will simply answer, “The Grace of God.” As the daughter of Dallas real estate legend, Jennie Ling, Nora learned how a great work ethic and putting her clients above all else leads to results. She believes that honesty,  integrity and relationships  are the key ingredients that set market leaders apart. Her motto is, “say what you mean, and mean what you say.” For more than 32 years, Nora has specialized in the Park Cities and vicinity, Preston Hollow and Lakewood where she, along with her husband, Jody, raised all three of their daughters.

Consistently focusing on the goals and needs of her clients, she has risen to the top of the industry where she is recognized for superior service, advanced negotiation skills, innovative use of technology, and sophisticated online marketing strategies including heavy social media and internet marketing. Nora has a strong belief in handling every aspect of each transaction from start to finish rather than relying on an assistant to handle details of her transactions....her clients are too important to delegate to anyone else! Learn more at www.noralane.com.

noralane.com

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