HP, UP, Southlake Housing Appreciation.

[TurtleCreek80]

Originally Posted by Lovinglifewith4

Hi Everyone,

The thread I started the other day was closed before I could post one last time, and since some of you posted to that discussion I thought I'd post here how much I appreciate your candor, data, opinions, etc.... The discussion was a tremendous help to us as we decide where to situate ourselves for the next few decades! I gained tremendous insight and learned so much from each of your local perspectives. The discussion was very productive and convincing. Thank you for taking the time!

Good luck & let us know where you end up!

[TXNGL]

Originally Posted by TX75007

And that is just it. Priced right. A lot of homes have gone on and off the market several times. And are still waiting to be sold...

I'm surprised by that. People I know who sell there tell me that many homes never even make it onto the MLS.

[JTC Mom]

Originally Posted by TXNGL

I'm surprised by that. People I know who sell there tell me that many homes never even make it onto the MLS.

It's true that many houses are available before they are on MLS, but in my experience only a few sold before being listed. When we were shopping for a home last summer and fall we would receive emails of so-called "hip pocket" listings from our realtor several times a week. A few of them (but not many) sold before going on the MLS. Most of these "hip pocket" listings we received emails about actually did go on the MLS 1-4 weeks after we heard about them. So there was definitely an opportunity to buy before the house was listed, but most of the serious buyers (ie those using a realtor with specialized knowledge of the area) know about the listings so they are not really "secret" and still in most cases the homes did not sell without going on MLS.

I'm also on a neighborhood listserv where people sometimes post information about coming listings not yet on MLS, but more often they post info about wanting to buy a house and asking if anyone knows of anything not yet listed. I've also met a number of people in the neighborhood who are building homes so it is somewhat widely known that they will list their current house when their new construction is completed. I would bet that some of these situations will end up with people selling their homes without posting on MLS.

But honestly, I've noticed many houses on MLS...seems like most actually...sit on the market 2-3 months and then have a price reduction before selling. After the price drops, it often sells at close to or sometimes above ask, sometimes with multiple offers. Still even with the many price reductions, overall prices are increasing at a solid, but moderate rate. I think the issue with many houses is that sellers see that prices are increasing and are reaching a little too high.

[GreyDay]

There's a shadow market for homes. Not sure if that's the right word.

Basically people 'testing' the market or like my realtor, they know what you're looking for and you tour the home before it even hits the market.

Much more civilized process that way. Seemed like it was usually folks moving into another house in PC and many times there was a 60-90 day close offered, presumably to give them time to find another home.

[TXNGL]

JTC Mom and GreyDay, good points. I do think Southlake is a good investment, I just don't think it's up there with PC. Maybe one day!