RE/MAX DFW Associates the Multiple Offer Frenzy in DFW

DALLAS - June 16, 2015 - PRLog -- The offices of RE/MAX DFW Associates are at the epicenter of the strongest and wildest real estate market in Dallas history.   The real estate professionals in our seven offices located in North Dallas and the northern suburbs are selling homes in markets that now have an average of less than 15 days on market.   Multiple offers abound.  In fact, many hot new listings are having upwards to 10 to 20 offers within the first 48 hours.

“We are in an amazing real estate market,” notes Mark Wolfe, president of RE/MAX DFW Associates.   “Many homes are selling above list price, and the bidding war for the new listings is unprecedented in the Dallas market.  I have been in real estate for 42 years and have never witnessed a market like this.  And it appears that this frenzy will continue for some time.”

According to a recent report from Realtor.com, the Dallas-Ft Worth market is the hottest market in the United States.   While home prices are increasing on average about 10 to 13 percent annually, in certain neighborhoods home values have increase 20 percent in just the last year.   The region gained almost 150,000 jobs in 2014, and every forecast predicts that Dallas will continue to gain more jobs.   More jobs mean more people moving to the area.

“We have several major groups buying homes in the DFW market,” notes Wolfe. “The immigrant growth of highly educated home buyers from Asia and India is huge.  In fact, the Indian population in the Dallas area has doubled in just a few years.   Then we have the job transferees coming to Dallas, heavily from California and other high-tax states.  The Dallas region has become a haven for Millennials who are seeking housing in the trendy areas of the city and College educated young professionals who are migrating to Dallas due to good paying jobs.  All of these groups are buying homes and wanting good neighborhoods with good schools, especially in the northern suburbs. ”

Wolfe added, “The strongest markets in the Dallas area where home values are increasing and multiple offers on hot new listings stretch from Irving and Coppell all the way through the northern suburbs up to McKinney, Frisco and Prosper.   The hottest of the markets are the homes from $200,000 to $500,000.    Most of North Dallas, especially the trendy neighborhoods are in the ‘hot market’ corridor as well.”

“I have been in slow markets, down markets, stable markets and hot markets in my 42 years,” notes Wolfe.   “But a market such as this that is so hot with so many multiple offers is exhausting to the buyers and to Realtors.   It is discouraging to buyers to continually make bids on new listings, only to learn that there bid was not accepted.  Buyers are almost always paying above list price; in fact the asking price is now the starting price for so many listings.   It is more important than ever that both buyers and sellers have a highly skilled real estate professional on their side to help navigate through these critical negotiations.”

RE/MAX DFW Associates is in its 33^rd year of operation and today is the largest RE/MAX franchise in Texas.    The firm has seven offices: Coppell, Dallas, Flower Mound, Frisco, Las Colinas, Plano and Willow Bend.  The firm’s over 340 agents are projected to close $1.75 billion in 2015.   RE/MAX DFW Associates is part of the world-wide RE/MAX network in 97 countries and over 100,000 agents.  For more information, visit the firm’s website, www.YourHomeTownPro.com, its Facebook page, facebook.com/RMDFW or on YouTube, youtube.com/rmdfw.