Southlake Real Estate Blog

The Southlake Real Estate Market Has Changed

No doubt about it, the NE Tarrant County real estate market has changed over the last 6 months. In fact, recent data from the North East Texas Real Estate Information Systems (NETREIS) indicates existing home prices are down 7% this year in the greater DFW area – plus it’s taking longer for properties to sale. NE Tarrant County is now experiencing what has been occurring around our country for the last year, a market slowdown. With that said, Southlake and Colleyville luxury home sellers must accurately price their homes the moment they are listed. Otherwise, expect your NE Tarrant home to languish on the market without prospective home buyers and their offers!

Insiders Tips to Pricing/Marketing Your Southlake/Colleyville Luxury Home

Because our market has changed so much, price reductions are now the norm for many properties. Drive around your typical Southlake or Colleyville neighborhood and you’ll see sign after sign that says, “PRICE REDUCTION”! If you’re about to list your Southlake or Colleyville luxury home, you can avoid this malaise by pricing your home right to begin with.

Here are a few NE Tarrant County insider home seller tips to consider:

• Again – it is absolutely critical to “Price Your Home Accurately” when you list your home. Price reductions send messages to potential buyers that your overpriced home is undesirable. Once the price is reduced, NEVER launch a price reduction marketing campaign. If you do, you send signals to buyers that your home is all but unmarketable.

• When you first list your NE Tarrant County home for sale, have your Southlake real estate agent “debut” your property on Friday. Recent research and data indicates Friday is the very best day to have your home hit the local MLS! The absolute worst days are Mondays and Thursdays.

• When pricing your home accurately, make sure it falls within the correct pricing “categories”. Internet-based home buyers are more savvy web searchers today. Typically, searches are segmented in $25K to $50K increments. If your recommended home value is $551K based on a market analysis (CMA), it is recommend you list your home at $550K so your home falls in the $525K to $550K price point.

• Before you list your home for sale, have your agent search your “hyper-local” neighborhood to determine if there are “foreclosure properties” on the market. If so, it is recommended you hold off listing the home until that foreclosure home is off the market as foreclosure homes are typically difficult to compete against and set a bad precedent for home values in your area.

• To attract as many potential buyers as possible, we place your Southlake luxury home on many websites, including Craigslist. It’s all about marketing your NE Tarrant County home to as many “eyeballs” as possible!

What has been your experience in our lagging real estate market and tell us how you overcame your obstacles to successfully market your home? Are you thinking about listing your home for sale? If so, ask us any questions you might have about marketing your Southlake luxury home.

Until my next post,

Sharon

Spice up your Christmas Holiday at the Gaylord Texan Hotel!

The Lone Star Christmas event is now taking place at the Gaylord Texan Hotel and Convention Center through January 5th. It features a variety of fun free holiday activities for your entire family! Inside this spacious Grapevine Hotel, visitors will discover 1.2 million twinkling holiday lights, magical model train sets, a 40-foot tall Christmas tree, and a life-size Gingerbread House, just to name a few. And don’t be surprised if you run into Santa, Mrs. Claus, a live reindeer, or a variety of strolling holiday entertainers!

ICE! at The Gaylord Texan Hotel

If you’re ready for an ice cold treat, be sure to visit the ICE! exhibit at the hotel. Gaylord Texan’s popular ICE! exhibit features 2 million pounds of ice, hand-carved by visiting artisans from Harbin, China. Visitors of the 14,000-square-foot exhibit will also discover a three-level ice slide, a gingerbread family, penguins, a walk-through Nativity scene, and so much more. Tickets to the ICE! exhibit are $10.00 and $20.00. For more ticket information, go here>>

Tell Us About Your Visit!

If you go to the ICE! exhibit and the Gaylord Texan Hotel, be sure to leave a comment and tell everyone what you liked best about your experience!

Until my next post,

Sharon

Below are the final five sought-after amenities and features for Southlake and Colleyville Luxury Home Buyers

• Your Personal Spa Retreat and Gym – No longer just a remote room filled with a treadmill, bright lights and mirrors on one wall, today’s well-appointed luxury home gyms and spas are far more sophisticated. No doubt these spa-like amenities have undergone an extreme makeover. The luxury homeowner now demands their home epitomize a complete health and wellness center. Resort-style amenities include steam and message rooms along with rooms dedicated for a Yoga and/or Pilates studio. Gone are outdated hot tubs for static relaxation. Active luxury homeowners demand indoor lap pools and half court basketball gyms to remain physically fit.

• Concierge services – No longer restricted to condo-hotels and condominium owners, concierge services are a reality for today’s luxury homeowner. Builders and developers are aligning their resources to incorporate the growing demand for onsite concierge services. From providing in-home chefs to booking dinner reservations, concierge services offer the luxury homeowner time saving services like picking up your dry cleaning or purchasing opera tickets.

• Home Theaters – A home theater or media room remains a fixture for must-have luxury home amenities. However, today’s home theater far surpasses those of the most sophisticated local public theater. Equipped with theater-size screens, these light-controlled venues typically offer 6.1 digital surround sound, Crestron A/V Controls along with the latest high-tech gadgets to entertain. Stocked with plush reclining seats and easy to access fully-stocked refreshment centers, today’s media room can easily accommodate larger groups of family and friends.

• Home elevators – Accessibility to all areas of your luxury is a must. Particularly if the residents are more mature. Plus – as lot sizes in our area diminish, the need for vertical construction will be a priority. Luxury homes equipped with elevators are becoming a matter of convenience as well as necessity for the typical Southlake or Colleyville luxury home buyer.

• Outdoor Living Spaces – Another must have feature for luxury homes is outdoor living spaces decked with all manner of amenities. Offering luxury buyers comfortable amenities like a fireplace, ceiling fans, wired surround sound, flat panel TV and built in appliances such as gas grill and refrigerator are the norm in our area.

Do You have a Favorite Luxury Amenity Omitted from my List?

If so, tell me your favorite luxury home feature or amenity.

Until my next post,

Sharon

From posh in-home spas to 5-star rated gourmet kitchens, today’s Southlake and Colleyville luxury home buyers are searching for all the creature comforts normally associated with a luxurious five diamond hotel. Now add these amenities normally found inside a luxury home and place them outside in outdoor living spaces and you have the total package. Other conveniences and features like in-home elevators, ultra-comfortable home theaters and a pristine multi-car garage and you’re closer to the amenities a luxury home buyer desires in their abode.

The Top Ten Must-have Amenities and Features for the Discerning Southlake Luxury Home Buyer

Sharon’s list of favorite luxury home amenities includes:

• Hobby spaces – With more free-time for hobbies, today’s more mature Southlake luxury buyers are quickly approaching their retirement years. Having convenient access to multiple specialty rooms to accommodate each spouses’ hobby is a must. These rooms should be outfitted with the tools and space required for today’s active mature luxury homeowner. From rooms dedicated to stamp and coin collecting to scrap booking and woodworking, these rooms should be secure, organized and tailored to provide an outlet for the creative needs of the luxury homeowner.

• High-tech homes – Today’s Southlake luxury home buyer seeks every available technology “bell and whistle” including pre-wired security systems and remote wireless access to control audio, video and lighting. Other high-tech features include multiple settings for entertainment as well as commercial-grade, high-speed 24/7 Internet connectivity. Given our chance for an occasional ice storm, pre-wired backup generators are in high demand as well.

• Pampered autos – Today’s successful Colleyville or Southlake corporate executive and luxury home buyer typically has a stable of collector autos in tow. For the most avid of car connoisseurs, especially those living on confined lots, having the amenities needed to maintain and detail a fleet of expensive cars can be a challenge. Preferred amenities include indoor lifts, bays devoted to an indoor car wash along with storage for onsite maintenance are no longer extravagant to the luxury homeowner. No doubt, these luxury home buyers spare no expense for their collection of priceless vehicles.

• Ultra-gourmet kitchens – Professional-grade kitchens are another must-have feature. Luxury buyers desire their kitchen to be loaded with commercial quality walk-in refrigerators, multiple dishwashers and stoves one would expect to find in a five-star restaurant. What with the growing popularity of home entertaining, these appliances are no longer options but are the norm for in-home chefs and even the novice gourmet cook in the family.

• Wine cellars and tasting rooms – Many of today’s Southlake luxury home buyers are also connoisseurs of fine wines. The vast majority of Southlake luxury homes come equipped with a climate-controlled wine cellar. Adjacent tasting rooms equipped with sinks and buckets for wine sampling are also in high demand as well.

Do You Have a Must-have Luxury Home Amenity?

If so, what is your favorite luxury amenity or feature? How would you rank my list in the order of preference? I look forward to your response!

Stay tuned for the final 5 must-have amenities for Southlake and Colleyville luxury home buyers in my next post,

Sharon