Sometimes I wonder why people trust me. Have a look at these “before” photos. My friend and client Jenn actually bought this house, in this condition, after I made her leave work immediately to see it. We could easily say that Jenn has vision! To verify, just look at the “after” photos.

Great stuff right?

How did we do that?

For starters, Jenn was really clear about what she wanted in a house. She told me her size, price and location criteria.  She also wanted a place in which she could insert her own personal style. Together, we were aware that she would likely have to buy a fixer upper. Through my experience, I had ballpark knowledge of what her renovation might cost, as well as deep neighborhood insight on “fixed-up” pricing. So, when I saw her future home, I wasted no time in getting her in quickly.

Additionally, Jenn had done her financing homework, and was connected with a great lender (thank you Jerrett Morris). He got her a loan with home improvement budget, and then helped walk her through the complex process. Though the renovation took several months, many contractors, and a ton of personal time, she is now happily at home.

Thanks for trusting me, Jenn. Teamwork makes the dream work, baby.

I get asked this question on an almost daily basis. As in how is the Real Estate Market. I know that I feel busy. But being a data geek, I always have to cross-check my "feelings" with actual information from MLS. Keep in mind that what is sold in MLS represents many, but not all homes sold. It’s just the best global yardstick we have to measure with.

But how do we determine what the sold data means? Point2.com (a Real Estate blog) says this:
Months of inventory are often referenced when determining whether it’s a seller’s market or a buyer’s market:

• If there are 0-4 months of inventory, meaning that all current listings can expect to be sold within 4 months, it is considered a seller’s market because houses are selling very quickly. In a seller’s market, sellers have the advantage because demand for property exceeds supply.
• If there are 5-8 months of inventory, it is considered a balanced market. Current listings aren’t selling like hotcakes, but they’re not staying on the market too long either.
• If there are 9 or more months of inventory, it is considered a buyer’s market because houses are selling slowly. In a buyer’s market, buyers have more negotiating power than sellers do because the supply of listings exceeds the current demand for housing.

These timelines are approximate, but it is generally accepted than fewer than 6 months of inventory reflects good conditions for sellers whereas greater than 6 months of inventory represents optimum conditions for buyers.

Ok…so what does my immediate market area look like? Well for Oak Cliff (north of Clarendon St), there is less than 4 months supply of homes across all price points and types. Including condos and townhomes. I even went so far as to break it down by price ranges. To my shock some ranges have less than one month’s supply. Here’s the data:

*sold in the last six months

What does this all mean? Well to me, it explains why it feels busy. My seller clients are getting multiple offers on their homes. My buyer clients are running around trying to see properties the moment they come on market. One tough reality of this is that more homes could be sold if there were more available. In fact, NAR wrote a recent report stating that homes sales went DOWN in January specifically because of the lack of inventory.

If you’re thinking of a move, now could be an ideal time to sell. Your home is at a premium. And if you’re interested in this type of information for your specific neighborhood, let me know. We data geeks love this stuff!

XO
J

Getting close. But today we got the dreaded red tag. Electrical. They think it will get passes tomorrow. Then HVAC. Then CO. Then clean. Then moving day.

Wha?!?

Please think good weather thoughts. We are ready to go!

XO
J

The generator is on full force here. Guard your ears. And enjoy the update!

We are about to turn the corner on the project. This week so much is happening. Val starts by showing off her “boss skills” and then gives us the rundown of all that’s going to on this second to last week of construction.