May 2008 Residential Real Estate Activity is Up

The school is out this week and we will see more families facing dilema of school rezoning effects. Move to a new school or move to a new home? Summer is traditionally the busiest time in real estate.
Well, the residential real estate transactions in the area are happening daily. For the zip codes 76210 and 76208 there were 144 closed transactions in April alone. In addition there are 19 properties under pending status. This is up 37% in number of transaction for the same area and the same period last year. And more than combined amount of sales in February 08 and March 08.

Current homes for sale in 76210 (West Side of I35E)
Under $150,000
$151-200,000
Over 200,000

Current homes for sale in 76208 (East Side of I35E)
Under $150,000
$151-200,000
Over $200,000

I had a pleasure hosting an open house this past weekend and wanted to share one comment from visitors. They mentioned that they were very fortunate to sell their home on their own, without a real estate agent. I was really happy for them and assuming they got the best price and they actually closed on the transaction, not just had a contract in their hands (unfortunately a large number of for sale by owner falls thru the last week before closing) they did save a good deal of money! But, just like other lay people, some do not realize how a qualified and dedicated agent adds value to home buying and selling process, so i decided to clarify this in a few words:
Why work with an agent? If you are a buyer - the agent will organize showings, searches, and walk with you thru homes. He or she will provide up-to-date CMA for you to make an educated offer. He or she will also see thru all necessary evils that go along with a home purchase - making sure you have an option period to back out of contract, inspection is done on time, your lender is in the loop and the title company has all docs to close the deal. The agent's services are paid by seller, so they are free to a buyer. If you are a seller - you most certainly can sell your home on your own, just like my open home visitors did, and save $$ on commission. However, the agent will perform an average of 180 tasks to get a home sold. A good agent will help you to set correct price, market your home, expose it to other agents in the area who are working with qualified buyers, and oversee the entire process from marketing to offer to closing. (disclosure: I am a real estate agent with Keller Williams in Denton, TX also a REALTOR)