Southlake and colleyville home prices (Howe, Florence: for sale, leasing, loan)

[Jayerdu]

Does anyone know where I can find home sales and their sold prices for these two areas? I am looking to buy within a year and the homes listed in these two cities have been on the market for months and even year+. I am looking in the 350-450k range. There are a lot of homes for sale but the sellers seem to be in denial of market value as their homes are sitting there a long time. Any opinions about the market in these areas would be great. I have been looking in these two areas for about a year and I see the same houses.

[ChristieP]

A Realtor can pull comps for you. Texas is a non-disclosure state, so you can't get the sales prices on your own. DO NOT USE ZILLOW!!! Their data is notoriously inaccurate.

[loves2read]

while I guess there are some homes that might be up for sale for 12 mo--there are homes that have sold fairly readily
the problem you face with sellers who seem to be in denial of market value is that many of these sellers are not forced to lower the price of their homes TO sell--they can wait--they have money and are not desperate
some of them might be leasing their homes while they wait for higher prices

I don't think you are going to find that much of a "deal" in Colleyville or Southlake--this is not Detroit or Phoenix or Las Vegas where prices have dropped 50% in some areas

there are neighborhoods in both towns with price appreciation over the past 18 mo--
and frankly buying a house that no one wants--even at a cheaper price--is not always a smart idea

[PrincessKick]

Agreed. Unless it is something the just needs some updating, i would pass on a house that hasn't sold in a long time. I always at least partially consider resale potential.

[loves2read]

check out 2775 Florence Rd listing in Southlake--that one has had huge drop inprice from the MLS info

[Twincam666]

Yea, and the prices are going to continue to drop thru 2012 too............. I'm not a realtor but own plenty of property. Just not a solid move in Texas right now.

[nsumner]

Originally Posted by Jayerdu

Does anyone know where I can find home sales and their sold prices for these two areas? I am looking to buy within a year and the homes listed in these two cities have been on the market for months and even year+. I am looking in the 350-450k range. There are a lot of homes for sale but the sellers seem to be in denial of market value as their homes are sitting there a long time. Any opinions about the market in these areas would be great. I have been looking in these two areas for about a year and I see the same houses.

As Christie said, TX is a non-disclosure state so sales prices are not made public, only loan amounts are recorded.

Here are some numbers that may help you:
There are 372 homes on the market in Southlake as of today, of which 93 are under contract. Also, there have been 382 homes sold in the last year. These numbers include single family, duplexes and townhomes.

There are 348 homes on the market in Colleyville as of today, of which 53 are under contract. Also, there have been 320 homes sold in the last year. These numbers include single family, duplexes and townhomes.

Once you decide where you want to live, a more detailed market anlysis will be done.

I hope this helps.

Naima

[JustDeb]

How come they don't disclose the sale prices in Texas?

We paid $850,000 for the 'Mistake House' here in Hawaii,
and are selling it for $770,000, just to get out of this place.
Most houses out here sit for almost a year. Were basically
giving it away.

I like the non-disclosure, because I really didnt want
friends/family to know how much we paid for this house.

And now, they will know how much money we lost. Its right there
on Zillow, from the county records.

NSUMNER- Regarding the loan amount being recorded, since we plan to
pay cash when we purchase our home in TX, how will that show up in the
county records?

[loves2read]

the law does not require that sales amounts are turned over to the tax authorities

sales are often listed as $1 and other considerations as I understand it

[nsumner]

Originally Posted by JustDeb

How come they don't disclose the sale prices in Texas?
NSUMNER- Regarding the loan amount being recorded, since we plan to
pay cash when we purchase our home in TX, how will that show up in the
county records?

People like their privacy and don't care to tell others how much they paid for a house. They voted for it. Think about it, it gives you an edge when it's time for you to sell.

Cash transactions will show blank. It will show a title transfer but no dollar amount.

We even have more and more buyers and sellers asking that the prices not be disclosed when they sell/buy a house. However, for MLS purposes, there are forms that are required to be signed by all parties for us not to post the sales price.

It is becoming more difficult to do a market analysis and do appraisals because of this.

Naima