Tips to Invest in the Dallas – Fort Worth Real Estate Market

Tips to Invest in the Dallas – Fort Worth Real Estate Market
By Noel Markham

The Dallas – Fort Worth Metroplex, also known as DFW is a huge market encompassing several counties and hundreds of cities and ranging from urban to suburban to rural areas. While the area in general is a good market, it is important to take a look at specific areas in order to determine where the best values for investing are.

The Area West of Grapevine Lake

Grapevine Lake in North Texas is just north of the Dallas-Fort Worth International Airport and this makes the small towns in the area convenient. The towns of Trophy Club, Grapevine, Southlake and Keller are examples of the real estate market in the area.

Trophy Club Real Estate

The Trophy Club real estate market is the smallest and least active of the towns mentioned. The population is small with fewer than 7000 residents. About a quarter of all home sales in the area are selling for a loss and that compares with the less than 10% percent that sold for a loss in 2007. Sales volume in Trophy Club is low. The median sales price of a home in Trophy Club is about $286,000. Most of the homes in the area are large, 2 story homes with very few if any renter opportunities.

Grapevine Real Estate

Grapevine is a much larger town with close to 47,000 residents. The median home price is about $200,000, which is down from the high of $248,000 in 2008. Since then, the average price hovered around $224,000 until recently. Almost 30% of the homes selling in Grapevine sell for a loss, but that means that 70% sold for a gain. This means that the opportunity for bargains is there but investors will have to shop carefully. This is an area of suburban elites who bought homes within the past five years.

Southlake Real Estate

Another upscale area, Southlake residents tend to be well-to-do professionals who live in large, 2 story homes in a family neighborhoods. The area is smaller than Grapevine with about 25,000 residents. The median sales price of a home in Southlake is a little less than $400,000, but currently almost 50% of these properties on the market will sell for a loss. However, that also means that about 50% will not sell for a loss. Home sales are brisk for the area with an average of over 20 sales per month for this year.

Keller Real Estate

Keller has a population just under 39,000. It is an area that appeals to high-income families with children. The median sales price of a home in Keller is about $252,000 and in about 47% of sales, the home sells for a loss. However, over 50% of the homes sold for a gain so the market is still good for investors. The majority of the homes in Keller are large ranging from 2400 square feet to over 3600 square feet.

Overview

The area in general has few condo options and most of the homes are owner occupied. All in all, from an investor viewpoint, this is not an area with opportunities for a fast turn around but more of an opportunity for the long-term investor. It is definitely an area to consider for any family looking for a good environment in a relatively stable market.

Noel Markham, MA
http://www.sellrealestate.net

By the way, if you want to view current listings in Grapevine, Trophy Club, Southlake or Keller visit http://www.dallas-fort-worth-real-estate.com.

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