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