Buying a House in Dallas? 11 Tips from Local Real Estate Agents

Buying a house can be an overwhelming process, especially in a bustling city like Dallas. The housing market is competitive and fast-paced, making it crucial to have the right guidance and expertise on your side. To help you navigate the real estate landscape in Dallas, we’ve compiled a list of 11 essential tips from local real estate agents. 

Whether you’re a newcomer to the area or you currently rent an apartment in Dallas, these tips will provide valuable insights and strategies for success in the Dallas housing market. From understanding the local market conditions to negotiating with sellers, our expert advice will help you make informed decisions and secure your dream home in Dallas. Let’s get started.

1. Get pre-approved for a mortgage

Before you start looking at Dallas homes for sale, the most important thing you can do as a first-time buyer is to get pre-approved with a local lender. A buyer who has already completed the pre-approval process presents as a much more viable and intentional buyer than one who hasn’t completed this step. Presenting an offer with a pre-approval makes the offer much more compelling for a seller to consider and improves the odds of success. – Tami Carter | Redfin Premier Agent

Having worked with many first-time homebuyers in Dallas, my initial advice would be to get pre-approved for a mortgage if you need a loan in order to purchase. Your Realtor, friend, co-worker, or even online sources will be happy to provide you a referral. One doesn’t necessarily have to use that specific mortgage lender for the purchase, but you must determine what you can afford.  Paul Carper | Redfin Partner Agent Carper-Miller Real Estate Group

2. Utilize your agent’s expertise 

First-time homebuyers should listen to their realtor, who will advise them on their different options for submitting a winning offer, such as appraisal waivers, escalation clause addenda, and perhaps paying the cost of the owner’s title insurance policy. I always arm my buyers with all their choices, so they feel more confident about the offer they submit. – Holly Bell | Redfin Premier Agent

3. Come in ready to learn 

Don’t assume as a first-time buyer that you should know everything – that’s far from the case. I often tell first-time buyers that they are in some ways better prepared to purchase because their eyes are open. Repeat buyers sometimes think they know how the homebuying process works, but if they haven’t bought a home in 10 years or so, the rules, market norms, and processes are very different. – Jeremy Larsen | Redfin Partner Agent, Berkshire Hathaway HomeServices

4. Research the Dallas market

Before buying a house in Dallas, you should research the Dallas real estate market to determine the type of property you want and the area you want to live in. This can help you understand the prices, availability, and competition in the area. – Laura-Marie Captain | Redfin Partner Agent, Century 21 Judge Fite Company

Despite higher mortgage rates, DFW will be one of the top buyers markets in the nation this year, mostly due to a surge of homes that will go on the market. Inventory is expected to hit its peak sometime in October. For February 2023, the median home price in DFW was $384,169 (up 1.6% YOY). Active listings in February 2023 were 15,743 (up 146.7% YOY). – Glade Smith | Redfin Partner Agent, LG Realty Group

The current housing market in DFW is changing. But it is still a competitive market. We are seeing a normalization in the DFW housing market. This means we are back to pre-pandemic inventory levels. This is good news for all buyers, especially first-time buyers because buyers now have more options. However, homes that are priced right and move-in ready are still seeing competition among buyers. Understanding when and how to react is important to secure the best home for your family. – Kelly Boulton | Redfin Partner Agent, Better Homes & Garden Winans

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