Low interest rates and a healthy remodeling and rebuilding market have helped create more demand in an area that already has plenty of attention from buyers, say local Realtors in University Park, an upscale area of Dallas and home to Southern Methodist University.
"Location, location, location," says Realtor Nora Lane . "University Park is a small town in the middle of a big city, five minutes from downtown with lots of trees and the best schools in Dallas."
Lane advises, "It's spring and things are selling very fast in the Park Cities. The market is hot. University Park is a unique locale. Coupled with Highland Park, these two areas are still one of the most desired locations in Dallas because of the wonderful school district. Interest rates are still at 30-year-lows, and sales are booming. Consumer confidence is up. Everything that is priced right is selling at a record pace. The homes that are selling the fastest are ones that are priced right and in prime locations. Buyers need to hurry before the spring market really heats up and prices escalate."
Agrees Realtor Shana Acquisto , "University Park is one of the most prestigious markets in DFW. Lots of updating and renovation in this area. Like most people, you may be apt to stay for decades in the Park Cities neighborhoods; they are stable, community-oriented neighborhoods with little transition: Population: 22,259; Households: 8,452; Avg. household income: $115,368; Avg. value of homes sold: $324,990; Median age of residents: 31.5; Downtown commute: 5.2 miles."
"University Park has excellent schools and excellent family life," says Realtor Patrick Kiommi . "The proximity to DFW Airport, Dallas, Fort Worth, Irving, Lewisville contribute to making this one of the most desirable locations to raise a family. A transient professional community allows for expedited sales and incoming buyers. A kid's haven with activities galore leaves the parents with plenty of time to create their own environment."
About the market, Kiommi says, "We're starting to turn the corner... homes are getting more viewings and starting to move, albeit slowly. Surprisingly, we are also seeing some of the higher-end properties start to garner attention and sales are on the increase. Having a Realtor offering you more than just a sign in the yard is very important, especially now, as inventory starts to increase and proper staging of the home results in having the competitive edge. Stay tuned for further information and with springtime here, we should see just how the market plays out. The area continues to attract new residents and 2005 may be an exciting year stimulating growth before the spring period."
