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Real Estate Update for Dallas Uptown

The monthly indicator reports are updated on the left side bar –
They are a one page PDF file from the MLS data through the month
of August and year to date.  I have had quite a few requests for
How’s the market in Uptown? – so here you go –

The real condo story is the inventory – 948 units – Whew! That’s
going to take a while to get through.   Of course, Uptown and Oak Lawn
are one of the hardest hit areas in the metro – Sales down 34.2% year to
date.  Let’s just say a lot of speculation and bad timing.  I think it goes
without saying financial market conditions aren’t helping either.  Getting a
jumbo loan is no longer a cake walk even if you have stellar credit! The little
** is to let you know that because MLS data is entered at different times and
people that figures will adjust accordingly.

Lots of opportunity everywhere in this market – if you can catch the builder
or seller in the right circumstances of fear you can definitely take advantage
of buying some equity before the market turns around.  And it will, just need
the inventory more in line with sales.  Concessions are being made with the
percent of original list price received at sale coming in at 93%.  If you have
access to funds now is a great time to pounce.  If the graph is too small you
can download the link for data and graphs too, just click Uptown Real Estate.

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

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