Homes for sale in Southlake TX
Houses for sale in 76092
Real Estate Statistics for Southlake TX
Things to know about Southlake TX
Famous for being one of the best places to live in Texas, Southlake is an area that offers a great suburban feel. While settlement started in the 1840s, the area wasn't fully incorporated as Southlake until 1956. Since then, it has grown and established itself as one of the most economically independent areas and is popular for its economic excellence. With an abundance of restaurants, coffee shops, and parks, this area is highly welcoming to tourists and provides a beautiful comfortable location for those who call this home.
Southlake Real Estate Summary:
Southlake Houses for sale in the 76092 zip code are located in the suburbs of Fort Worth and predominantly in Tarrant County.
The beautiful neighborhoods offer an incredibly wide range of houses at varying prices to suit your needs. For the affluent crowd, Southlake has a wide variety of luxury homes to choose from. Whether you’re looking for land, multiple rooms, or an incredible view across the Grapevine Lake, Southlake is home to some architectural masterpieces that compete with the finest in the world. There are also homes that are ideal for singles and new couples. These condos range in prices from $175,000 to $250,000. Larger family units can opt for houses that are listed closer to $400,000.
In 2008, Forbes listed Southlake as one of the most affluent neighborhoods in the United States. They stated that the median household income for Southlake residents was $172,945. However, a 2017 statistics review places the average household income at $259,284, while the median household income is $207,910. The age group of 25-40 tends to have the highest income range, followed by the closely older 40 and above. This area boasts a 29,210 population above the poverty line and a meager 595 number of people below the poverty line. Keep in mind that the entire population of Southlake is at 30,090! The median age for Southlake residents is 42, with 73% of those 15 and older are married.
Southlake is famous for its exemplary public schools. The area is known for its high school academic excellence and its achievements in sporting and co-curricular activities. Carroll High School in Southlake is known for its 8-time State championship football team.
There are multiple churches to choose from; Gateway Church on Blessed Way , 121 Community church, or White’s chapel UMC just to name a few.
For your dining pleasure, make a reservation at Brio Tuscan Grille for a warm atmosphere and delicious Italian meal. Or try Luna Grill for some quick fresh Mediterranean food. For Mexican food lovers, stop over at Cristina's Fine Mexican Restaurant on Southlake Blvd. Search for restaurants near Southlake Town Square shopping center and you will find a plethora of restaurants to choose from.
Why buy a house in Southlake?
The low crime rate in Southlake, top notch school ratings and very low unemployment rate make Southlake a very appealing place to live. With lots of activities, shopping food and school events, families find the community living excellent. If you are considering moving to Southlake we want to help make your home buying experience a positive, seamless experience. Our real estate expertise can make buying a home a pleasant and rewarding experience for you. We are here to help!
Schools in Southlake, TX
Private/Charter Schools in Southlake, TX
Public Schools in Southlake, TX
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Mortgage Financing Information
The first thing you’ll need to consider before putting down an offer on a home in Southlake is your financial standing. Take a good look at how much of a down payment you will be able to contribute to the purchase of your new home. Are you a bit older with more savings to add, or are you just starting out with only a few thousand to spare?
The average down payment on a home at closing is 20% of the purchase price. Depending on the cost of the home, this figure may be more than you can handle. That’s where special programs come in. Home buyers will find a variety of first time home buyer programs, discounts for military members, and even government grants that don’t have to be paid back at their disposal. These programs will bring your down payment requirement to as low as 3 to 5%, making the home affordable. We are ready and willing to help you locate the programs you qualify for and get your applications to the right person.
First Time Home Buyers:
In order to take advantage of a first time home buyer loan, you’ll need to meet one of three criteria. You must either be looking to purchase your first house, not have owned a home over the course of the last three years, or not owned a home on your own in the last three years if recently divorced. If you fit any of the above definitions, then you’ll want to apply right away to join this program.
Also available to first time home buyers in Southlake, TX are government grants. Recipients are welcome to use this money to purchase a wide variety of homes, such as a condo, manufactured home, or a single-family dwelling. When applying for this type of loan, you’ll have to meet certain income requirements, and have a decent credit score. A few additional grants that fall into this category include the Home Repair Program, the House Trust Fund, and Habitat for Humanity.
The Federal House Administration, also commonly referred to as the FHA, has a special loan program that keeps down payment costs to 3% of the purchase price of the home you wish to buy. The upside to this program is that it requires you to carry mortgage insurance. While this might sound like a bad thing, it makes you more appealing to lenders, which increases your chance at being approved for a loan.
If the FHA loan isn’t for you, there are also conventional loans with a low down payment requirement of 5%. These loans have no mortgage insurance clause, and are an excellent option when interest rates tend to be low.
For Sale by Owner:
Should you spot a home for sale by owner as you’re driving around Southlake, feel free to give us a call and we’d be happy to assist you. We can set up a showing, and if you love the house, we can also negotiate a sale price on your behalf with the owner. Let us work on your behalf to get you the best band for you buck and to make sure that the contract is favorable. In many cases, homebuyers are able to save money when purchasing a house for sale by owner because the owner isn’t paying any listing fees.
Southlake is a great city for finding an investment property to add to your portfolio. With CDs and savings accounts only providing a small return on your money, an investment property is the way to go. Pick up a duplex or a business office and collect a healthy monthly income to help prepare you for retirement. We are ready to scout popular locations and listings that best fit your circumstances so you can start enjoying the extra money.
Do you have experience with the military? If so, you may qualify for a special tax-free housing allowance. This money does not have to be paid back and can be used to pay part or all of your monthly mortgage payment. It is best to apply ahead of time so you can determine how much of a mortgage you can take on.
The best way to determine the price range of homes to shop for is to take the time to speak with a lender and get a loan prequalification letter. In addition to giving you an idea of the houses you can afford, the letter can be submitted with a contract offer to show the sellers that you are a serious buyer. This will give you a leg up should multiple offers be submitted around the same time period.Show More
*Approximate monthly payment is an estimate only. Actual monthly payment will differ.
Contact your real estate agent directly for complete and up to date information.