Now is a great time to buy or sell a home in Dallas, TX.  People who used to mock Big D for our cattle, big hats and slower talk are now envying our steady real estate market, pockets of appreciating home prices and growing job market. 

Now with that said (written?) let's get to the point of how we can win in this real estate market.  It is all about value.  It is all about value.  Value is what it is all about in real estate.  You've heard it said that real estate is about location location location, but BigDBlog likes what Todd Dotson says.  "Price cures all."  Price is a quantified expression of perceived value.

 Dictionary.com Unabridged (v 1.1)

val·ue      /ˈvælyu/ [val-yoo] noun, verb, -ued, -u·ing. -noun

Remember that value is "relative."  Would you buy a 3,000 square foot home that has been totally renovated for 50% of market value even if it was twenty minutes out of the way?  Many people would.  Price can cure some location problems.  If you like a property and then quantify that into a price you are willing to pay for it, you know value of the property for you.  It might not be the same for everyone.  As a buyer, if you are borrowing money to purchase a home, your bank or lender will help you define value whether you like it or not.

As a home seller, you must remember that value is defined by the buyer.  Wait, let that soke in... And we're back.  Each prospective buyer will view your home through their own eyes with lenses shaped by his or her own needs, wants and understanding.  When selling your home, you are trying to find the buyer whose value determinants match up with yours.  This is not easy, and is a major reason that BigDBlog always advises that you find a knowledgeable and affordably priced real estate professional to consult with you and represent you in any transaction as a buyer or seller.

 Sellers, do not let a buyer's opinion of the value of your home offend you.  Either have your consultant clearly communicate the value of your home as you and he perceive it or move in and be deliberate about finding and attracting a buyer who shares your opinion on value.  There is no magic formula, and comparables are only indicators of value.  Appraisals are a raw guesstimate at best.

What is real estate all about again?

BigDBlog