Questions With Kristen- It's a sellers market! Wait, what is that?

You’ve likely heard it at least a million times during this pandemic, “it’s a sellers market!”, but what does it actually mean? Well, it means a few things! Simply put sellers have the advantage because there are more buyers looking for homes, than there are sellers selling right now.

In this type of market you will see many houses getting multiple offers, cash offers, crazy over asking price offers, and buyers willing to give up many things just to secure the home for themselves. Historically we have considered the market to be in the sellers favor when there are 6 months or less of inventory available, but for much of 2020 and 2021 here in West Texas we have been seeing inventory as low to 1-2 months. Meaning, that if all the homes currently on the market today all sold and nothing else came on the market, we would run out of homes in one to two months.

What causes this? The main driving factor here are historically low interest rates. In 2020 the FED did everything they could to lower these rates to help stimulate the economy during a very trying time in our nations history, so we have seen absolute historically low interest rates, between 2-3%. This year we will begin to see those numbers come up, they already have where now they are around 3-3.5%, but another driving force in making this market a sellers market is a large influx of buyers we are seeing. We have many moving from other states right now, primarily California and New Mexico, and many of these folks have cash, and are coming from markets that are so inflated our home prices seem low.

What does this mean for you? It’s a great time to sell. If you have considered selling your home you’re likely going to get top dollar, potentially multiple offers on your home, and you can choose a situation that works best for your family. How about if you’re a buyer? Well, it means you should be patient. You may have to put in MANY offer before winning, you’ll have to be quick and trust your realtor to keep a close eye on everything coming on the market. It may be tougher to be wise as a buyer right now, but stick to your guns! The reality is if you’re a first time home buyer, this likely won’t be your forever home, don’t deplete everything you have just to win right now. Take your time and trust the process. For more information on this subject head over to our “Meet the Team” tab and contact one of our agents, or you can visit our YouTube Channel “Lubbock is Home” linked below to see a short video.

Neighborhood Minute- Papalote South

Welcome to Papalote South! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re going to take a peek at Papalote South, located in south Lubbock just east of Upland ave, and North of 82nd st. This quiet family friendly area has the best of both worlds! It’s residents love its convenience to south Lubbock shopping and restaurants all while still having a more quiet country feel to it.

Most of these homes were built in the early 2000’s, and feature larger lots between 1/2 acre to 1 acre lots making it easier for residents to have pools, barns, workshops, and even just a little space between them and their neighbors.

Papalote South is a part of the Frenship Independent School District and features Oakridge Elementary, Heritage Middle School, and Frenship High School. Home values begin around $450,000 and go all the way up to around the mid $800,000’s a the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- The Meadows

Welcome to The Meadows! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re joining our team as we check out this well established Lubbock neighborhood located in South Lubbock just south of 82nd st, sandwiched between Slide Rd, and Frankford Ave.

This area is in the Lubbock Independent School district and has Preston Smith Elementary right in the middle, which feeds into Irons Middle School, and Coronado High School, home of the Mustangs (where Jarett Culver went!).

Many residents love being just up from Phil Hoel Park with the large fishing pond, two playgrounds for the kids to play, tennis courts, and mature trees. This area was primarily developed in the 80’s & 90’s, and home values begin around the upper $100,000’s and go all the way up to the low $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Kelsey Park

Welcome to Kelsey Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. This incredible new area of Lubbock has been absolutely adored and sought after by many residents who love new construction! This area is located just south of 130th st, and just West of Indiana Ave.

This area is home to the Cooper Pirates and is being built around brand new Cooper Central Elementary School, which feeds into Laura Bush Middle School, and Cooper High School. This area has a small homeowners association, and walking trails.

There are a myriad of different home types in this area including duplexes, single family residences, and a few 1/2 acre lots. Home values in this area begin around $250,000 and go up from there at the time of our research, however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://youtu.be/GAiklh8DbWs

https://www.kelseypark.com/

Neighborhood Minute- Farrar Estates

Welcome to Farrar Estates! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re going to take a look around Farrar. This area is in south Lubbock between Slide Ave, and Frankford Ave, right outside of loop 289, and was built around Irons Middle School and Whiteside Elementary, which both feed into Coronado Mustangs, a part of the Lubbock Independent School District, Home of the Mustangs!

This area was built mostly in the 70’s & 80’s. This established area is beloved for its close proximity to the local schools, but also the nearby park with a playground, walking trails, and duck pond.

This area appeals to a wide array of buyers with home values that begin around $200,000, and ago all the way up to the mid $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Melonie Park

Welcome to Melonie Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re visiting Melonie Park! Melonie Park is likely the most well known and established neighborhood in all of Lubbock! Melonie Park is located just inside the loop between Indiana Ave and Quaker Ave.

This area was primarily developed in the late 60’s to early 70’s, but is so well adored that many of those homes have been recently updated. This area used to feature two elementary schools, however in the last ten years they did away with the two older schools and built one of the most sought after elementary school in LISD, Miller Elementary, which feeds into Evans Middle School, and Monterey High School.

What most residents love most about this area is the mature landscaping, tree lined streets, and the beautiful park its built around which has walking trails, playground equipment, volleyball courts, tennis courts, and basketball courts! Home values begin around the low $200,000’s and go all the way up to the low $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Whisperwood

Welcome to Whisperwood! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. This well-established neighborhood is located in Northwest Lubbock just inside the Loop, and features a wide array of properties- townhomes, garden homes, duplexes as well as single family homes.

Many love this area for its convenient location to Texas Tech and the Medical District, and for the HOA that is offered, including a neighborhood pool and tennis courts, all for less than $250/year. Whisperwood is located in the Lubbock independent school district and features highly sought after Rush Elementary, McKenzie Middle School, and Coronado High School.

Home values in this area have a wide range beginning around the high $100’s for some of its smaller homes, and goes all the way up to the high $400,000's at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Remington Park

Welcome to Remington Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re taking a good look at Remington Park, located just outside the loop between Chicago Ave and Slide Rd.

Remington Park is a part of the Lubbock Independent School District and features Whiteside Elementary School, Irons Middle School, and Coronado High School. This area is built around beautiful Remington Park, and is just up the road from the local elementary and middle school.

Homes in this area were primarily built in the 80’s, and home values begin in the mid $200,000’s and go all the way up to the mid $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Primrose Pointe

Welcome to Primrose Pointe! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Primrose Pointe is located in Lubbock west of Milwaukee Ave and 70th st.

Primrose Pointe was built and developed around Oakridge Elementary School, which is a part of the much sought after Frenship Independent School District and feeds into Heritage Middle School, and Frenship High School, and is really known for its custom homes, and was even featured in our local Parade of homes.

Home values begin around the high $200,000’s and go all the way up to the upper $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Hatton Place

Welcome to Hatton Place! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Hatton Place is one of Lubbock’s newest neighborhoods being developed in south Lubbock between Indiana Ave and Quaker Ave just south of 114th st.

Hatton Place is Located in the highly sought after Cooper Independent School District and located just up the street from Laura Bush Middle School, which feeds in to Cooper High School, and Lubbock Cooper Central Elementary.

This area is featuring amazing builders such as Clearview Custom Homes, Southern Homes by Dan Wilson, Apex Homes and many other high end custom home builders. Home values begin around upper $200,000’s and go all the way up to the middle $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://hattonplacelubbock.com/

Neighborhood Minute - Abbey Glen

Welcome to Abbey Glen! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we are in South Lubbock in one of its newest premier neighborhoods Abbey Glen!

Abbey Glen is located just north of 98th st and West of Slide Rd, in the heart of southwest Lubbock, meaning its just minutes from the loop and many of the new and up and coming businesses on slide rd. Abbey Glen is a master plan community that will conclude with a beautiful private park on the back end.

Abbey Glen is located in the highly desirable Cooper School District. Home Values will begin around the $300,000’s and go up from there at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://www.abbeyglenlubbock.com/

Neighborhood Minute- Frenship Mesa

Welcome to Frenship Mesa! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we are deep in the heart of Frenship Nation, Frenship Mesa! Frenship Mesa is known as “The neighborhood by Frenship High School!”, and that it is! It has a few quiet streets, and a small park with a playground and pergolas with park benches on the back end.

Development in this area began around early 2000, however recently has had several new builds in this area due in great part to DR Horton and its return to Lubbock. Frenship Mesa is located in the Frenship Independent School District and features Bennett Elementary, Frenship Middle School, and Frenship High School.

Home values begin around the mid $200,000’s and go all the way up to the upper $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Raintree

Welcome to Raintree! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re going to check out all that Raintree has to offer! This area is located between 82nd & 98th just off of Indiana ave, &  is really adored and sought out by first time home buyers for it’s quick access to Charles A. Guy Park, it’s top rated elementary school, and it’s convenient location to south Lubbock.

Raintree is located in the Lubbock Independent School District, and features Honey Elementary, Evans Middle School, and Monterey High School. This area was built around Charles A. Guy Park known for its great walking trails, large fishing pond, and wonderful Playground. This area is also within walking distance of Honey Elementary.

Most homes in this area were built in the late 70’s and early 80’s, with home values starting about $150K, and go all the way up to the low $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Day Estates

Welcome to Day Estates. Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Day Estates is located in Southwest Lubbock, just north of 98th street between Frankford and Milwaukee Ave. This area is located in the Frenship Independent School District, feeding into Crestview elementary, Heritage Middle School, and Frenship High School.

Construction on Day Estates homes began in the early 2000’s, but is still being developed today by some of your favorite local builders like Edge, Tim Roten, and David Rodgers.

This area is known to bring in its younger families where you can see youthful bike rides, outdoor tag, and family bar-b-que’s happening quite frequently. Home values in the area start around the low $200,000’s and go all the way up around the upper $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Foxridge

Welcome to Foxridge! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re in south Lubbock in a newer Lubbock Neighborhood, Foxridge, home of the Cooper Pirates! Foxridge is located off of 98th and University ave in the Cooper Independent School District and feeds in to Cooper North Elementary, Laura Bush Middle School, and Cooper High School.

This area may look familiar because if it was a location for both the 2016 and 2017 Parade of Homes. Home values in this area start around the low $200,000’s and go all the way up to the middle $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://www.foxridgelubbock.com/

Neighborhood Minute- Lakeridge

Welcome to Lakeridge! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. During the height of the 2020 pandemic, we pulled in some of our favorite Jr. Agents to do some of these for you. Today, Harper is going to take us on a quick tour of Lakeridge, a Lubbock classic located just south of 82nd st, in between Quaker and Slide.

This premier established neighborhood was primarily built in the 80’s-90’s and features varied home designs and very unique architecture. Many love this area for the well kept landscaping, and family feel! Many residents can often be seen playing outside with their children and pets. This area was built around Lakeridge Country Club which includes a golf course, pool, tennis courts, and clubhouse which has meeting facilities, a restaurant and many social functions regularly exclusively for its members.

Lakeridge is located in the Lubbock Independent School District and feeds in to Preston Smith Elementary, Irons Middle School, and Coronado High School. Home values begin around the upper $200,000’s and go all the way over half a million at the time of our research, however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://www.lakeridgecc.com/

Neighborhood Minute- The Ridge

Welcome to The Ridge! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re taking a stroll through The Ridge. The Ridge is a newer development located off of 98th st + upland ave and is being developed by Epic Properties. This area is well loved for its family feel, the HOA amenities like the neighborhood pool, and its diverse builders like Nesloney Homes, Southern homes by dan Wilson, and Cody Craig Custom Homes

The Ridge is located in the Frenship Independent School District and features Upland Heights Elementary, Frenship Middle School, an Frenship High School.

Homes in this area have a wide range of lot sizes, and future of having some half acre lots that can be purchased. Most homes in this area begin around the upper $300,000’s and go all the way up to the mid $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://epicproperties.com/residential/ridge/

Neighborhood Minute- Westwood

Welcome to Westwood! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood, and today we’re in Westwood. Westwood is a small neighborhood in southwest Lubbock of only about 10 blocks 82nd-89th st, and upland-quincy ave, but is power packed full of incredibly unique homes on larger lots, most a ½ acre or more! This area began development in the early 90’s, and finished up about the mid 2000’s.

This area feeds into Frenship ISD, and features UH elementary, FMS, and FHS, and is within walking distance to beautiful Quincy Park!

Home values in this area can vary pretty greatly, but typically begin around the $300,000 mark, and go all the way up to the mid $500’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Escondido Ranch

Welcome to Escondido Ranch. Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Escondido Ranch is located off of 50th and Alcove in the heart of Frenship nation. This neighborhood was one of the locations for the 2020 Parade of Homes, and is on deck to be a prime location for the 2021 Parade as well, and features builders like Homemakers, Joey Yates, Automated homes & more.

Escondido is located in the Frenship Independent School District and features  Bennet Elementary, Frenship Middle School, and Frenship High School, plus living at Escondido Ranch means you’re within a short drive of the Medical District, shopping centers, and the Texas Tech Campus.

This up and coming neighborhood appeals to a wide range of buyers starting at the low $300,000s- and go all the way up to the high $500,000s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Highland Oaks

Say hello to Highland Oaks! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Highland Oaks is located south of town just inside frankford ave and Woodrow rd with homes on 1 acre lots, within a quaint HOA that costs about $600 a year.

Homes in this area were built in the early 2000’s- to around 2010, and located in the Cooper school district and feeds into Cooper South, Cooper Middle school and Cooper High School.

Property values in this area have a pretty big range starting around the $500,000 mark and goes all the way up to well over a million at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

http://highlandoakslubbock.com/