About Palo Pinto County, TX

Palo Pinto County Texas Real Estate Sales were down 20% in November 2011 over the same month last year with 12 homes selling this month! For the year to date, overall home sales were at 196 homes sold, a -7% change from last year. Palo Pinto County Texas Real Estate total dollar volume of homes sold this month was $2,744,724 which is a 63% change from this month last year. For the 2011 year to date, the total dollar sales were at $44,520,616, which is a 6% change.

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New Palo Pinto County Texas Real Estate listings experienced a 18% change for the same period last year with 33 homes listed this month. For the year to date, overall home listings underwent a -13% change with 501 homes listed this year. Listings pending sales this month underwent a -43% change, with 4 homes contracted. Listings under contract for the year to date experienced a -8% change, with 166 homes under contract for this month.

The average sales price of Palo Pinto County Texas Real Estate was $228,727, a 104% change from this month last year. Overall, for the year, the average sales price was $227,146 , a 14% change. Sellers received 88% of their asking price this month, which is a -4% change from last year. For the year to date, sellers received 91% of their asking price, which is a 0% change. This month, homes spent an average of 161 days on the market until sold, which was a 18% change from last year. For the year to date, the average number of days on the market was 137, an overall change of 5%.

The current supply of active listings on the market this month was 299 homes. This is a change of 0% from the same month last year. For the year to date, the supply of active listings on the market was 301, which is a -9% change. This month there was a 17.5 months’ supply of homes on the market; this was a 11% change from last year. For the year to date, there was a 17.6 months’ supply of homes on the market, which is a 0% change from the same period last year. The average price per square foot was $106 this month; a 39% change from last year. For the year to date, the average price per square foot was $131, a change of 11%

Palo Pinto County Real Estate sales is known as Multiple Listing Service (MLS) area 76 in the North Texas Real Estate Information System. Information is believed reliable but is only as accurate as reported by the system in the month of November 2011. DFW Team Realty provides month reports on Palo Pinto County Real Estate Sales as well as Palo Pinto County Foreclosures, Palo Pinto County Short Sales, and Homes in Palo Pinto County. Please visit our website at DFWTeamRealty.com for the latest information on Palo Pinto County homes by price range and community. Search Palo Pinto County Real Estate at Homes in DFW

Palo Pinto County Texas Real Estate Reports

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This week I am providing a snapshot of residential real estate activity for our entire Palo Pinto County. This will give you an idea of what has happened in our market for the week beginning 9/12/2011 and ending 9/19/2011.

Currently at $84,900

Palo Pinto County has 378 active residential listings. Prices range as low as $4900.00 for a time share condominium to as high as $32,900,000.00 for a 3,290 acre ranch with four residences. The average days on market is 232 for these properties. The lowest day being 1 and the highest days being 1,525.

During the week we had 2 properties sell. One being in Possum Kingdom Lake and another in Mineral Wells. Prices were $14,200.00 and $165,000.00 respectively, with the average days on market at 100.

Currently we have 5 properties pending. These range from $33,500.00 up to $369,900.00. Only one of the propertes is a foreclosure at $48,900.00. The average days on market: 180

Total foreclosures for the county: 18
Prices range from: $22,500.00 to $695,000.00
Average Days on Market: 221

For properties with a contract that has some type of condition before it can go pending, we have 7. Prices range from $84,900 $135,000.00
up to $230,000.00. There are no foreclosures in this category.
The average day a home spent on the market: 218

As you can see, our rural county has had a busy week in real estate. If you have any questions or would like more information, please do not hesitate to contact me.

It's hard to believe that almost a year has passed and it's time for the Crazy Water Festival already! This year we have changed things a little so that we will be having activities on Friday and Saturday. If you are looking for a fun and lively event, then this will definitely be a great time for you, your family and friends!

Early morning, children's area

Friday evening beginning at 5:30 p.m. we will have the car-cruise and car show. Live Music, wine and art will be available and on display. Evening winds up about 8:30 p.m.

Saturday the festival itself begins!

Main Stage Area - Live Music All Day Featuring:

Steve Poltz
Salim Nourallah
Carrie Elkin
Stan Crawford
CrazyWater
Joshua Ingram & American Combo
Jimmy Baldwin and Vaqueros Electronicos
Coe Boys
Adam Hull
Doug and Jill Bryan
Christa Russell

Throughout the day we will have the Crazy Water Dunking Booth, a 5k trail run, Crazy Beer, Rahr's Crazy Beer, the Crazy Cyclocross and much more! Come taste some of the Crazy Beer in the Crazy Beer Garden behind the Famous Water Company, visit more that 75 vendors and just have a wild and crazy day!

Also note that if you would like to become involved with the festival, we would love to have you as a volunteer. It's a great way to get know your community and neighbors. If you are interested, please feel free to contact me via e-mail or phone and I'll let you know what areas we still have available. (You can e-mail me through ActiveRain.)

Chalk art from last year

GREAT ENTERTAINMENT....GREAT FOOD....GREAT FUN!!!!!!

October 7th - 5:30 p.m. - 8:30 p.m. at the Little Rock Schoolhouse

October 8th - 9:00 a.m. - 6:00 p.m. at the Famous Water Pavillion Area.

You can also visit www.crazywaterfestival.org for more information.

Real Estate in Mineral Wells is a little unpredictable right now, as it is in many places. This is only a snapshot report for our residential properties in Mineral Wells only. It does not include outlying county areas.

Lowest priced active listing at: $22,000

Currently, we have 126 active listings ranging in price from $22,000 to $32,900,000.00. The highest priced being 3,290 acres of land.

116 active lisings - currently for sale (10 of these are foreclosures) $22,000 to $32,900,000

6 active contingent - which means that there is a contract, but there is some type of condition that has to be met in order for the buyer to purchase the home (such as getting financing.) $84,900 to $159,900

4 pending - waiting to go to closing (2 of these are foreclosures) $34,900 to $175,000

The average days on the market have been 174, with the shortest period of time being 6 days and the longest 922 days.

Lowest price sold for past 30 days

Within the past 30 days, we have had 11 residential properties sell, ranging in price from $33,500 to $385,000.

6 were sold for under $100,000
4 were sold for under $200,000
1 sold for under $400,000

The average days on market for a sold listing were 120. The shortest being 3 days and the longest at 286 days.

Two of these sold properties were foreclosures.

As you can see, we have a very diverse selection of homes and property for sale in Mineral Wells. If you would like more information on our area, please feel free to contact me at any time.

The Resurrection Of The Historic Baker "Crazy Waters" Hotel In Mineral Wells, Texas

A group from Southlake Texas are planning a $54 million renovation of the 14 story Baker Hotel in Mineral Wells Texas. This is big news for the small town of 17,000 people in Eastern Palo Pinto County. The development group has been working on bringing this a reality for 3 1/2 years.

The hotel is the largest building in Mineral Wells and in it's day was one of the largest health spas in the country. The Baker Hotel opened in Mineral Wells Texas in 1929 during the height of the mineral water craze. In it's heyday, the Baker included mineral baths, golf course, three dance floors, and a rooftop nightclub. Hollywood Stars like Jean Harlow, Clark Gable, Judy Garland strolled the halls and danced away in the ballrooms. In the 1940's the FDA ordered Mineral Wells to stop making medical claims about the waters and traffic dropped off.

The hotel has been vacant for almost 40 years now. Plans to reduce the 450 original rooms to around 155 by expanding them and bringing them up to modern day standards. The spa area and pool will also get a major renovation and the new lobby will be spectacular. All of this at a price tag of over $54 million. The developers have stated they will be using local contractors for the renovations which will give a boost to the local economy.

This is all very exciting to save such a important part of Texas history.

Happy Trails,

DK