Expert Homebuying Advice

6 reasons why you should sell your home before you buy a new one

Before you buy a new home, like this one at 5866 Lakehurst Ave [https://www.daveperrymiller.com/property/23602785/5866-Lakehurst-Avenue-DALLAS-TX-75230]., you should sell the one you have.

Photo courtesy of Dave Perry-Miller & Associates

With an extreme shortage of properties for sale, many North Texans worry they will sell their current home before they find a new place to buy. This “homeless” phenomenon tends to put a stalemate on the overall market, because we need inventory to get the wheels moving.

The natural sequence in the home-buying process is to list your current home while you search for a new one to purchase. Selling usually takes a few months; however, in today’s hot market, homes are often under contract within a week or two and closing within 60 days.

When is the best time to sell? It happens to be right now, in the early part of the year.

Supplies of homes in a normal market are around six months, but today, the supply is around two months, which means that homes are closing very quickly — about two months on average.

Bottom line: It behooves you to sell your home before you buy. Still need convincing? Here’s a list of reasons why:

Applying the equity
Most homeowners need to sell their home before purchasing another one. They need to apply the proceeds from the sale toward the down payment for their next home. In other words, the sale is necessary in order for there to be a purchase.

Buying time
There is no certainty that your home will sell immediately. It doesn’t make sense to contract for a new home without serious interest for your home – unless you don’t mind owning two homes at the same time. So it is wise to offer it for sale while you shop.

Being in control
If a seller is concerned about the sale happening too fast — before the new home has been secured — Realtors can help with a variety of solutions. If you as a seller can sell your home quickly, you are in control, and you have added leverage in the negotiations.

Keep in mind, offering your home for sale doesn’t mean that you have to sell it. If offers come in quickly, and you haven’t found a home to buy yet, consider negotiating a higher price or more favorable terms.

Timing
The process of selling needs to come first. If your home sells before you find a new one, ask for a longer window to close on your current home and allow more time to find the right home to buy. Or, if you want your money quicker, close on the sale of your home sooner and agree to a temporary leaseback, which permits you to stay in your home for an additional month or two while you find a home.

Bridge loan
Remember the bridge loan? Lenders are once again loaning temporary funds called bridge loans to strong borrowers. It serves as a down payment for your next home until you are able to sell your current home. Once you sell your home, the bridge loan is paid off from the proceeds of the sale.

Taking advantage of the market
When is the best time to sell? It happens to be right now, in the early part of the year. In moderate climates like Texas, the spring market heats up as early as January, as homebuyers enjoy sunny afternoons to tour open houses. Home sellers can often achieve a premium price this time of year, because demand is high and there are fewer houses available than there will be in the spring.

Home selling and buying naturally progress concurrently. Realtors are experts at facilitating the timing of the events, so let’s get the houses on the market and start shopping!

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Dave Perry Miller & Associates is a premiere residential real estate firm with five locations that specialize in marketing the key areas of the Park Cities, Preston Hollow, Uptown, Lakewood, East Dallas and Kessler Park. Dave Perry-Miller & Associates is a member of Leading Real Estate Companies of the World and Luxury Portfolio International. For more information on luxury living, please contact Dave Perry Miller & Associates at 214-369-6000. Also visit daveperrymiller.com/blog for the latest news in Dallas real estate.

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Henderson Avenews

Dallas' Henderson Ave. project lands 11 new tenants from bagels to boots

Photo courtesy of PopUp Bagels

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A major mixed-use development taking shape on Dallas’ Henderson Avenue has signed 11 new retailers and restaurants, including a viral bagel shop, the first Dallas location of a major Western brand, and more food, fashion, and wellness destinations.

According to a release, the 161,000-square-foot (as-yet-unnamed) mixed-use development from New York-based Acadia Realty Trust and Dallas development firm Ignite-Rebees, under construction along a quarter-mile stretch between Glencoe Street and McMillan Avenue, will be complete in late 2026 (or "Q4" in business speak).

The newest additions include several brands making their debuts in Dallas, Texas, or even all of the United States.

In alphabetical order, the new tenants include:

Alberta Boot Co. — Canadian Western bootmaker opening its first U.S. store.
Ariat — Western and performance apparel brand with a shop in the Fort Worth Stockyards, but none in Dallas yet.
Cami — Women’s fashion label known for elevated basics and contemporary style.
Cody & Sioux — Western-inspired retailer opening its first U.S. location.
Guizio — Streetwear-influenced women’s fashion brand making its Texas debut.
Jean Dousset — Fine jewelry and engagement ring designer opening its first Texas location.
Margaux — Luxury footwear and accessories brand opening its first Texas storefront.
Sway Wellness — Wellness retailer specializing in hemp-derived products.
Rag & Bone — Fashion retailer relocating from its temporary Henderson Avenue location.
Salt & Straw — Portland-based artisanal ice cream shop that opened May 15.
PopUp Bagels — Viral bagel shop from the Northeast, slated to open later this summer, the second location after a recent Dallas debut in Inwood Village.

The project will ultimately include approximately 75,000 square feet of retail space, 12,000 square feet of restaurant space, 74,000 square feet of office space, and 500 underground parking spaces, the release says.

“The addition of these distinctive brands reflects our commitment to curating a retail environment that is both leading-edge and deeply engaging,” says Mark Masinter, managing partner and co-founder of Ignite-Rebees, in the release. “Henderson Avenue is evolving into something really special and intentional, and these tenants — and the soon-to-be announced next round of tenants — are a reflection of that.”

Henderson Avenue development A rendering of 2200 N Henderson Ave, with design by GFF. Rendering by Pictury

Construction teams have completed the structural phase and are now moving into interior build-outs and finish work. Dallas-based architecture firm GFF designed the project as a collection of 10 distinct buildings connected by landscaped walkways and public gathering spaces.

The development will also include the previously announced Romy, an all-day bakery-cafe and restaurant from hospitality team Tristan Simon and Taryn Anderson alongside chef Matt Ford.

“When the project is complete, Henderson Avenue will feature an extraordinary mix of brands housed in a collection of design-forward buildings that you simply won’t find anywhere else in Dallas,” Masinter says.

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