Just Sold 🏡
This incredible home, nestled on one of best lots in the highly desired Heritage master plan community, was recently sold!
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H-E-B Headed to Alliance
The renowned San Antonio-based grocery store continues its expansion into North Texas.
In early June, word leaked that an H-E-B would be headlining a new, 30,000 square-foot dining and retail concept at Parkside at Alliance Town Center. The presses were rolling and Facebookers and Instagramers were engaging. Alas, Tarrant County finally had an H-E-B — and before Dallas County, no less. But, within 24 hours, a public relations firm representing Hillwood, the center's development company, performed damage control and recanted the previous announcement — it was premature.
Nearly five months later, we're able to make the announcement official: H-E-B will indeed be planting its flag at Parkside at Alliance Town Center, located at the northwest corner of Heritage Trace Parkway and N. Riverside Drive. This will, technically, be Fort Worth's first H-E-B — the city is already home to two Central Market locations.
H-E-B will join Torchy's Tacos, CAVA, Black Rife Coffee Company, and Dash Nail Spa as tenants at the new shopping and dining center. Groundbreaking for the new development will take place Nov. 16.
In August, the company announced they would be opening a location in Mansfield. That store, which will be H-E-B's first store in Tarrant County, will be located at the corner of US 287 and Broad Street.
For those scratching their heads at the immensity of this news, Fort Worthians have long pined for an H-E-B in their city. With Facebook groups dedicated to the cause, it appears residents have little doubt the grocery store, which is known for its low prices and quality store-brand items, will serve as a better shopping experience than the ho-hum Kroger and Tom Thumb.
1. More Homes To Choose from
During the pandemic, housing supply hit a record low at the same time buyer demand skyrocketed. This combination made it difficult to find a home because there just weren’t enough to meet buyer demand. According to Calculated Risk, the supply of homes for sale increased by 39.5% for the week ending October 28 compared to the same week last year.
Even though it’s still a sellers’ market and supply is still lower than more normal levels, you have more to choose from in your home search. That makes finding your dream home a bit less difficult.
2. Bidding Wars Have Eased
One of the top stories in real estate over the past two years was the intensity and frequency of bidding wars. But today, things are different. With more options, you’ll likely see less competition from other buyers looking for homes. According to the National Association of Realtors, the average number of offers on recently sold homes has declined. This September, the average was 2.5 offers per sale. In contrast, last September, the average was 3.7 offers per sale.
If you tried to buy a house over the past two years, you probably experienced the bidding war frenzy firsthand and may have been outbid on several homes along the way. Now you have a chance to jump back into the market and enjoy searching for a home with less competition.
3. More Negotiation Power
And when you have less competition, you also have more negotiating power as a buyer. Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But the latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving those contingencies is going down.
As a buyer, this is good news. The appraisal and the inspection give you important information about the value and condition of the home you’re buying. And if something turns up in the inspection, you have more power today to renegotiate with the seller.
A survey from realtor.com confirms more sellers are accepting offers that include contingencies today. According to that report, 95% of sellers said buyers requested a home inspection, and 67% negotiated with buyers on repairs as a result of the inspection findings.
While buyers still face challenges today, they’re not necessarily the same ones you may have been up against just a year or so ago. If you were outbid or had trouble finding a home in the past, now may be the moment you’ve been waiting for. Partner with our team to start the homebuying process today.
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