Is it still a buyer’s market today in Dallas / Fort Worth? As experts in the Dallas / Fort Worth real estate market, we get asked this question a lot.
The answer isn’t as simple as yes or no. So, if you want the real scoop on what’s the state of the market for buyers in Dallas / Fort Worth, here’s what you need to know…
The State of the Market for Buyers in Dallas / Fort Worth TX
First off, it really depends on the property type and property location.
Single-family homes in great locations that are priced correctly have been flying off the shelves. There’s high demand for homes and properties in certain areas, while other areas are struggling like ghost towns.
Buyers are often times looking for the same things – good neighborhoods, access to transportation, shopping, good schools, recreational facilities or nearby parks, close to work, access to major highways, restaurants, etc. Properties that deliver all these are hot commodities. Because of this, sellers that have highly desirable properties are the ones in control of the market. So what’s the state of the market for buyers in Dallas / Fort Worth? Let’s dive in some more.
Condos and townhouses – let’s say you find a complex with a total of 100 properties, and 20 of them are for sale…well, because there’s so many on the market, as a buyer, you’re probably going to get a better deal than you would if there were only 1 or 2 on the market in that complex. If only a few are on the market, then that can drive the prices up, and you might find yourself in a situation where there’s not a lot of bargaining room. Supply and demand are the name of the game no matter where you’re looking to buy a home.
Investment properties are in demand. Massive amounts of foreign cash flooding the US real estate market have certainly impacted the Garland housing market in unique ways.
Whether foreign or domestic, these investors are in a position to pay cash for properties adn have been snatching up many of the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t work on paper.
Financing is still a major obstacle for buyers today. Banks are being incredibly strict, requiring lots of money down and sometimes even changing their terms at the last minute. It’s not uncommon for approved buyers’ financing to fall through right before they go to closing. Although it’s getting better than it was just a few years ago.
Seem confusing? It is. But We Can Help.
There’s still a lot of uncertainty happening in the US economy, and things can change seemingly overnight.
We’re investing in Dallas / Fort Worth because we believe in the community and the people here.
If you need to sell a property near Dallas / Fort Worth, we can help you.
We buy properties like yours from people who need to sell fast. Call Madison Lea Homes today!