The North Texas Housing Market Is Rebounding Quickly: So Why Hasnt My Home Sold Yet?
For all intents and purposes, the North Texas housing market came back to life in November
. Pre-owned homes, in particular, rose nearly 31 percent last month from a year ago which, interestingly enough, is the highest increases on record. It is also the second month that Dallas real estate saw a jump in home sales.Not be outdone by home sales, medium home sale prices were also up five percent across North Dallas. Although a rebound cant be calculated using just two months worth of numbers, it certainly shows that the housing market may very well be turning the corner.
Dallas real estate is moving quickly for a number of reasons, including the federal home buying tax credit, which has now been extended into 2010. However, it is also important to point out that even sales that are not affected by the tax credit are seeing increases, thereby signaling an overall rebound of the Dallas real estate market.
With low home prices and equally low interest rates, the Dallas real estate market looks like its poised to heat up once again.
What About me?
If you are currently listing a home on the market and you are scratching your head wondering why everyone else seems to be selling their homes except for you then it may be time to start reassessing your selling strategy.
With the increase in home sales, the overabundance of homes on the market is diminishing, thereby giving you a prime opportunity to make your home shine and increase your chances of getting your Dallas real estate sold.
However, there are a few questions to ask yourself:
1.Have I priced the home too high? In this competitive market, your home will simply be overlooked if you price it too high. Make no doubt about it; it is still a buyers market, so pricing it high and crossing your fingers simply gets you nowhere fast. Instead, work with your real estate agent to research recent sales in your neighborhood so that you price your home aggressively from the start and get it sold.
2.Is my real estate agent marketing my home well? You can offer the best price on your Dallas real estate, but if no one sees it then youre not doing yourself any good! Ask your agent for details regarding his or her marketing plan for your Dallas home and request weekly or bi-weekly updates with your agent so you can discuss whether his/her current marketing strategy appears to be effective.
3.What is the condition of my home? Buyers of today dont want a home that they must extensively overhaul and remodel. If your home is not move-in ready then youre missing out on a good portion of buyers. Consider investing money into your home to spruce it up and compete with other homes in your price range.
Although the verdict is still out on many types of remodeling projects, most home sellers can benefit from an updated kitchen, updated bathrooms, neat and attractive landscaping, updated flooring and freshly painted walls. Often times, just a few hundred dollars worth of home improvements can yield a higher sales price and less time on the market.
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