Monday, 23 October 2017

The Spring Market is coming to an end but Dallas is Hotter than Ever!!

Written by Posted On Monday, 23 February 2015 21:01

The hot spring market is coming to an end and will cool as summer comes upon us. But, interest rates are still low, buyers are still relocating to Dallas more than ever, more inventory is coming on so don't wait to buy or sell. The Dallas market is hot and will continue to be the place to move. There are definitely "sweet spots" in the market and certain price ranges and locations sell instantly in this market. Under $1M in the Park Cities is impossible to find and sell within a week. The best locations in University Park is still the golden corridor (between Preston and Hillcrest) and bring top dollar. I did a market study of just the Park Cities and in the last 90 days 85 houses sold between $1-2M, 16 houses sold between $2-3M and only 5 houses have sold between $3-4M!! You can see where the sweet spot is....between $1-2M!

Lot prices continue to skyrocket and there is beginning to be a good supply of new construction and those prices are higher than they've ever been (makes user homes a better buy). There are a good supply of homes in Highland Park over $4M and University Park is getting an abundant amount of new construction above $3M. Devonshire, M Streets and Lakewood continue to be hot and out of control on prices. You'll be lucky to find anything decent under $500,000.....If you have been looking in the $500's in those locations, be prepared to pay $600,000+ now. Preston Hollow seems to be the only area that hasn't appreciated as much but lots are still in demand. All indicators seem to think interest rates will rise the last half of the year (haven't they been saying that for a while)....but I wouldn't risk it because the cost of money is too cheap now. Some people think the slump in oil prices will affect the luxury Dallas market, but Texas is a consumer state and the more money in buyers pocket from low pump prices means more consumption of products. Bottom line, there are plenty of silver linings in the clouds.

(Britt Fair, Hexter-Fair, Jan. 2014 vs Jan 2015)Displaying photo.JPG

 One piece of advice.... If you're looking to buy or sell, be sure and use a Realtor that has her/his ear to the ground and is well connected with the Realtors....it's all about relationships!

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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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