Will This Be Our Next New Listing to Go Under Contract?

Here’s an update to the original post shown below. As it turns out, this was our next home to go under contract. Sean Elliott said he had 41 groups tour the home on the open house days plus another 60 groups on the other days. He had 21 offers of which the seller only considered 12.

This is definitely a sign the market is still going bonkers. That’s great for sellers but it’s making it difficult for buyers because they don’t know where to make their offers. They don’t want to overpay but at the same time if they don’t come in strong, they’ll never get a shot at buying the home.

Sean did a great job as usual and hopefully it will be a successful closing.

Here’s the original blog from late last week …

We’re like you in we’ve been surprised to see how quickly home prices are going up all throughout the DFW Metroplex. We’re just starting into the new year and it’s anyone’s guess what that will bring. But even with the predicted three interest rate hikes we’re supposed to see this year, I’d be surprised to see anything dramatic happen to this strong seller’s market.

Inventory is still so low and so many people are thronging to Texas from the more expensive states on the east and west coasts, it’s going to take some time for supply to catch up with demand. So when we see a home like the one we’ve just listed in Allen at 301 Willow Creek with a great, close in location, huge lot, pool, nicely updated and affordably priced, we all pretty much believe it will sell quickly.

This is a small pocket of homes built before land prices went through the roof. The home is priced at $725K and is on a one acre lot. It’s right in the heart of Allen just a mile or so from Central Expressway. It also backs up to woods so you have a little bit of nature too. The home has just hit the market so if you’d like to see it, I wouldn’t wait.

We’ll all be watching it for what happens on this home because it might give us an indication of what we might be expecting this year. If you’d like to see it, please call Sean Elliott at 214.566.5930