DALLAS -- Months after it began to heat up, the housing market in Dallas shows no signs of cooling off. Houses are off the market, sometimes selling before they are even listed.
One local real estate company has found yet another way to give investors an edge.
A bus is chartered and the people are signed up, but these folks are not going on a cross-country trip. They are going on a tour of homes. NetWorth Realty of Dallas is hosting real estate bus tours through hot neighborhoods.
"Think of it as an open house, but instead of me just sitting here waiting for 30 folks to come in, the open house is our tour bus,” said Tony Caballaro, general manager of NetWorth Realty. “We're going to pull up to the house and walk them through it."
A few dozen people signed up for NetWorth Realty's last real estate bus tour. Saturday morning, about the same number will be dropped off to look at homes in north Dallas. One of them is a 1,895-square-foot renovated property on Northaven Trail.
The free ride is not just for fun. They'll learn something, too. It's kind of a field trip for investors.
"We'll have quite a bit of a mixed crowd, but for the most part, they are more novice investors,” Caballaro said. “They are just trying to get their feet wet and grasp the whole concept of real estate investing."
Besides the Northaven Trail home, Saturday's group will look at five other houses, all in north Dallas. The location includes some of the most-wanted addresses, such as the Lake Highlands and Preston Hollow areas.
It's one more way investors are snatching up houses from potential home buyers. Caballaro and other real estate experts say there’s less than a three-month inventory of homes for sale in the particularly hot spots.
“Yeah, us being investors and giving them a cash offer, versus a homeowner that's going to get financing -- they are probably going to be more inclined to take our offer," he said.
It’s a competition that doesn’t appear to be letting up anytime soon.