A North Texas realtor says the extraordinary market conditions have only become more pronounced with each passing month.
These are hard times to be a homebuyer in North Texas, even for those putting in competitive bids.
Real estate broker Joe Atkins of Joe Atkins Realty said he has seen plenty of cases where it is extraordinarily hard to be selected as the winning bid.
“You’ve probably got a 10% chance. I have made plenty of offers for clients this year and gone $50,000 or $100,000 over list…and lost,” he said.
Those $50,000 or $100,000 bids over what the seller is asking aren’t on million-dollar homes.
Atkins said that’s what is happening with $500,000, $600,000, $700,000 properties.
As for million dollar homes, Atkins shared the story of one of his agents who recently had a buyer in that price range in Southlake.
“He did not recommend this…they told my agent that they wanted to go $300,000 over (asking price) to try to secure the property. According to him, they got it but it was still tight,” said Atkins.