Fort Worth Real Estate in a Pandemic Environment

Written by someone who has her pulse on the current market...

By Heather Teems of League Real Estate

The Fort Worth Market right now.

 

Inventory is even lower. Before the pandemic, there was still a “seller’s market” in that essentially there were more buyers than there were homes for sale. This is now two-fold:

1. Some sellers are still hesitant to put their home on the market at this time because of health concerns.
2. Some are not able to put their home on the market for concern of being able to buy a home (maybe they are in forbearance on their current home or have had significant loss of income) so it makes sense for them to stay put at this time. 
This means even less homes going on the market during what seasonably is a very busy real estate time.
Combine this with a ton of pre-approved buyers who have been at home glancing through Zillow every night who now feel more comfortable getting out and looking in person and it has become a bit of a buying frenzy!  If you have a move-in ready home, in a decent area under about the $350k mark on the market- you better get packing quick!  

The Hotspots

These neighborhoods are still going QUICK-

 

Fairmount

 

Ryan Place

 

Wedgwood

 

Tanglewood/Overton Park

 

Ridglea Hills

 

Ridglea North

 

Arlington Heights

 

This is mostly price driven, but I’m seeing quite a bit of multiple offer situations within days in these areas under about the $350k mark and are move-in ready.

Looking to buy? Here is what Heather recommends.

 

-Do your due diligence before taking the risk of entering a home or exposing yourself.
-Take advantage of the videos and 3D tours now available on a lot of homes on the market right now.
-Do some drive bys.
-Wear a mask! Wash hands! But don’t make the process one based in fear and anxiety. It’s already a somewhat stressful process without a pandemic! -Stay calm, get with an agent who knows what they are doing and remains the calm constant throughout the process. It can still very much be an exciting time and one you should be proud to be involved in!
-Rates are still historically low- in my opinion buying even during a pandemic makes more sense than paying rent- possibly even more so during this time!

Looking to sell?

 

Despite the chaos, there are still a lot of buyers in our market that have not been financially affected by this pandemic and still need a place to live! If you are thinking of selling it is absolutely a great time to put your home on the market. Feel rest assured that it can be done in a way that you feel comfortable as the homeowner.
What I’m seeing a lot of are: Masks required, hand sanitizer placed in entryway, a COVID19 form being required before entering, requiring a preapproval letter before showing is allowed, 3D tours being available…
You just want to make sure you don’t go overboard and make it almost impossible for people to see your home. If you don’t feel comfortable because of health reasons and the idea of having strangers in your home will drive you crazy- just hold off for now! Or get creative- I sold a townhouse recently without the buyers ever seeing it until their inspection!

Heather Teems

Heather Teems is an experienced Dallas-Fort Worth agent who brings a strategic yet personable approach to the home buying process.

League Real Estate

LEAGUE Real Estate is a full-service brokerage in Fort Worth Texas. We are a community of agents dedicated to meaningful service and creative media.
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