Homes Selling Well in the Park Cities
Posted October 9th, 2012 | by The Update
After several years of declining or flat home sales figures, strong 2012 housing sales show no sign of slowing in the Park Cities real estate market. Year-to-date through August 2012, home sales are up 23% in the Park Cities and vicinity while housing inventory is down 23%, according to NTREIS MLS data, with the strongest sellers landing in the $750,000 to $1.5 million range, including those buyers looking for lots for new construction.
“It has really been the best year in several years for sellers as well as buyers,” said Malinda Arvesen, a Park Cities resident and veteran real estate agent with Briggs Freeman Sotheby’s International Realty. “I think we’re all optimistic that the really tough days are behind us. Homes that are priced right are selling, many with multiple offers. Almost 30% of our office sales transactions to-date were private sales not in MLS.”
Two recent Park Cities sales in particular stand out for Arvesen. “The first was the sale of 6701 Golf Drive, a premier location in University Park with a wonderful backyard view of Turtle Creek and steps from Goar Park. “It was an exciting transaction from start to finish,” she said, “and the buyers were thrilled to have a classic updated 1934, two-story residence with beautiful, mature trees in the heart of University Park.
Another notable sale for Arvesen was a three-bedroom, two bath cottage a 7422 Colgate that was under contract in less than a week. “The features that were important to the sellers when they updated the home matched perfectly with the wants and needs of the new owner, resulting in a great transaction for both parties,” she said.
Arvesen is no stranger to understanding the value of a great investment. She originally moved to the Park Cities to attend SMU, pursuing an MBA in Finance. After working in finance for several years, Malinda also worked in sales and later in escrow with a major Dallas title company, gaining knowledge and understanding of the fine details behind a real estate transaction. “All of that prepared me for a career in real estate, which I’ve enjoyed tremendously,” she said. “And with the upward shift in the market, it’ about to get even more exciting.”
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