Today’s fluctuating market causes as much confusion as the instructions for assembling an Ikea table, but with a vastly different and costlier result.
Buyers fight through the ever-changing news of when the time is right to buy and when they jump into the fray, caution is on high alert.
We asked Dallas agents how they work to reassure hesitant buyers in this time and help them move forward into a new home and a
With that, the agents also gave input on neighborhoods that stand out as places to find a great home — and some that folks might not know to give a look-over.
Raymond Leon & Associates
In today’s marketplace, so many buyers are hesitant to purchase. In my opinion, it is not the agent’s job to necessarily convince a buyer to purchase a home. A good Realtor, like myself, provides enough information to a buyer so that they want to purchase a home. Most will provide a few comparable sales and general information to a buyer and hope they decide to purchase. We not only provide comparable sales, but put the need of the purchaser first by matching his or her needs to the right properties in terms of lifestyle, proximity to work or social activities, or other priority factors to the buyer. It is important that a good Realtor explain the various costs of home ownership, as well as not living “house poor,” meaning all of the buyer’s money is tied up in the house payment. The buyer needs to have excess money budgeted in the event that repairs are needed, improvements are desired or the buyer wants to vacation and have other activities outside of the home.
One of my favorite neighborhoods to show is the Glen Meadow Estates in Northwest Dallas. I am partial to it because I have lived here for seven years. It is located near the Galleria, south of LBJ and west of the Tollway between Midway to Marsh and Forest to LBJ.
This neighborhood has a large price point that fits the budget for most buyers, currently ranging from approximately $150,000 to $550,000 depending where in the neighborhood the home is located and the property’s condition. Many of my LGBT clients reside in this area and probably at least someone from our community is on every block. The homes in the lower range are great to remodel and make your own, or even flip to sell for a nice profit. The houses at the upper end tend to be custom built with large lots, and average more than 3,000 square feet. The location is super convenient. You can go anywhere in under 20 minutes from this location, whether Downtown, Oak Lawn, East Dallas, Frisco or DFW airport, yet there are so many local restaurants and shopping within mere blocks.
Prudential Texas Properties
There are hundreds of questions that will run through a buyer’s mind during the period leading up to closing, the day you actually become owner of the home. Most of the questions will be simple ones that are easily answered, but sometimes doubts creep in, making a buyer uncertain if they want to proceed with the purchase. Unless there’s a true reason for concern, a buyer’s state of mind might simply be a case of buyer’s remorse.
What works for me is a “wants and needs” list. I ask the buyer to list all the “must-have” so if we find a home with all of those, it is in written form and the buyer can see it on paper. This helps with a sort of concrete reassurance.
Sometimes I kindly have to say to clients, “If you can back out of the contract, is it realistic to think you will find a house that’s better?”
They need to realize what was special about that house just a few days ago and has it really changed? Or have they? This realization tends to help with clarifying their intentions and wants of getting a new home.
I enjoy showing buyers the Casa View area located near White Rock Lake in the northeastern portion of Dallas. The area has been nearly synonymous with the adjoining Casa Linda neighborhood. The price points are affordable and the homes have rich character. Some of my favorite streets include Providence, Green Meadow, Mandalay, Plummer and Swan. The names alone are great and evocative.
When I was a young lad I would go with my parents to a cafeteria in Casa View and hear Miss Inez play the piano. If you grew up in Casa View, then you know who she was. Casa View has a library, mom and pop eateries in a shopping center that has always been very gay friendly.
Resource Real Estate Services Inc.
I try to point out the one thing that tends to be very reassuring to reluctant or cautious buyers. It used to be about the tax advantages that went with buying a home, but at this point in time, interest rates are so low. I remind them of that and how their monthly payment will be lower than any rent fees anywhere else.
I enjoy showing the Buckner Terrace and Claremont neighborhoods in East Dallas. They are located near I-30 and Jim Miller Road. The housing value in that area is just amazing. What you can get for your money there is unbelievable.
This article appeared in the Dallas Voice print edition March 2, 2012.