When real estate buyers contacted Skyfor for a recommended list of Dallas agents, they found out some were not willing accept them as clients. North Dallas buyers agents are quoted as saying, “There is virtually nothing livable under $250,000”.
(Fort Worth, TX) Skyfor, a real estate consumer education and referrals company received a request this week from a pre-qualified buyer hoping to purchase in the Richardson, Airport, or Dallas/Fort worth areas of Texas. The consumer was hoping to find a small home in the two hundred to two hundred and fifty thousand dollar range, and five buyers agents were suggested. However, 2 of the 5 refused to work with the buyer, saying he was in too low of a price range. Skyfor was surprised that a quarter of a million dollars would be a difficult price at which to buy a home, so interviewed several of the agents to help further educate consumers about the market there.
For a list of qualified buyers agents who serve Dallas Fort Worth, and a summary of the interview, see the Texas Buyers Agent network of members at http://buyeragentsearch.com/associations-and-real-estate-agents/texas-buyers-agents-network/
The buyer agent interviewed, Mr. Zygadlo, explained that it was an “insane seller’s market”. In Dallas the average price of a home is $290,000, while in Fort Worth it is a little more affordable, with an agerage price of a home being $2010,000. In certain cities such as Plano, Frisco and McKinney, prices have been increasing at a rate of 1% per month.
This particular buyers agent has been in the business since 1986, and he says that during that time period the Fort Worth population has quadrupled in size, from around 200,000 people to 800,000 people.
Other of Skyfor’s “SmartHomeSearch” brokers in the Dallas market reiterate the problem of low inventory, stating that “there is virtually no offer below $300,000 that is without competition on a move-in ready home”. The brokers note that there are some properties on the market in the $200-300,000 range, but that they inevitably require major repairs, thus driving the true cost well above $300,000.
Broker Zygadlo states that many people wish to live in North Dallas, because people perceive it to have the neighborhood qualities they are looking for. However, that is also the highest price area of the city. He suggests that people in the price range of under $250,000 consider areas outside of the Dallas center area, such as Fort Worth, or small towns a distance from the city center, where buyers can get the same style of house for 25-30% less. f
The brokers concur that once buyers start to hit the $500,000 mark that there is more inventory and not as much competition. However, buying a quality, livable home that would not require repairs located in the Dallas, Richardson, or airport areas is “virtually impossible”.
Skyfor, who also manages the Colorado Exclusive Buyer Agents Association, notes that the Denver Colorado market is experiencing growth similar to Dallas, except that the average prices are higher. The Denver median prices are over $450,00 and Boulder homes are over $900,000.
Those wishing to consider a real estate home purchase may get a free consultation, market analysis and list of buyers agents by phoning the Association headquarters or going to the inquiry page located at https://homebuyerscolorado.org/fanagnt/ . For Dallas or other cities in the United States, Canada, or Costa Rica, staff members respond to consumers who inquire at https://buyeragentsearch.com/find-a-buyers-agent/