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Housing market thrives in North Texas

Great time for sellers to make a move

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August 28th, 2017
Sold sign in front of suburban home

Homes are flying off the market in North Texas, due in part to corporations relocating their headquarters to the area.

 

Real estate in North Texas is booming.

Area house sales are up more than 8% from a year ago, according to a recent report from CoreLogic.

Home values are rising rapidly too. 

Standard & Poor’s/Case-Shiller’s home price index puts Dallas prices at an all-time high, almost 40% ahead of where they were a decade ago.

Realtor.com reports that Dallas is among the top 20 places nationally where “homes fly off the market the fastest, and buyers are up all hours, clicking on listings.”

Businesses driving growth

The thriving market is being driven in part by corporations relocating to the area. 

Toyota, State Farm, and Liberty Mutual are bringing their headquarters to North Texas. At the North American International Auto Show in Detroit, Mich., Toyota CEO Jim Lentz said he expects nearly 75% of the company’s 4,000 employees to relocate to Plano.

That influx of new residents is driving up home sales and prices—good news for those who are thinking of selling their home.

“Our Dallas market is hot,” says Cindy Gay, personal moving consultant at Highland Springs, the Erickson Living community in North Dallas. “With a great real estate agent and a well-thought-out marketing plan, multiple offers are not uncommon.”

Just as the demand for single-family homes is surging, so too is the demand for senior living options. 

Over the past two years, Highland Springs has opened two new residence buildings. A second clubhouse and additional residence building are now under construction at the North Dallas community.

“We’re experiencing a great demand for apartment homes at Highland Springs, and our 89 acres gives us room to grow,” says Sales Director Christina Christie.

Highland Springs is located at the corner of Coit and Frankford Roads, adjacent to the George Bush Turnpike, providing easy access to Richardson, Plano, Allen, and Frisco. The sprawling community offers convenience beyond compare with a host of amenities and activities, including an on-site medical center and continuing care neighborhood.

Erickson Realty and Moving Services is here for you

For those who are considering a move to Highland Springs, there’s never been a better time.

“Residents who have sold their homes and moved to the community in recent months have experienced offers coming in over their asking price, many of them cash offers,” says Gay. “It’s a great time to sell a home.”

If the time is right to move but the idea of selling your home is daunting, Erickson Realty and Moving Services is available to assist with every aspect of the moving process. As personal moving consultant, Gay offers complimentary coordination of moving services for anyone moving to the community.

Gay provides recommendations to trusted real estate professionals who have been vetted by Erickson Living and possess the skill and expertise to help with every aspect of the move.

‘More than we expected’

After meeting with Gay to develop a customized moving plan, Peter and Jean Manno listed their four-bedroom, three-and-a-half bath house in Dallas’s Prestonwood neighborhood in mid-April 2017. They used an Erickson Living-preferred real estate agent, Jane Clark, with Keller Williams.

“Our home was built in 1971, and I wasn’t sure if people still wanted older homes,” says Jean. “Jane assured us that our neighborhood, with its beautiful oak and magnolia trees, was very much in demand.”

The couple’s house hit the market on a Thursday afternoon. The next day, Peter and Jean had five offers, some over list price.

“Three of the potential buyers wrote us lovely letters about why they wanted to buy our home,” says Jean. “They even included pictures of their families and the family dog. The whole experience was so much more than we expected. At the outset, we weren’t even sure if we would get our asking price. Then we sold it for more than the list price.”

Peter and Jean hired another Erickson Living-recommended company, Firehouse Movers, for the move to Highland Springs.

“We were in the antique business, so there were a number of antiques to move,” says Jean. Nothing was broken. It was a great move, and we’re very happy at Highland Springs.” 

 

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