Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-02-2014, 12:26 PM
 
Location: The Woodlands, TX
1,718 posts, read 1,055,718 times
Reputation: 1147

Advertisements

Quote:
Originally Posted by bambee786 View Post
I just realized this post was originally from Dec 2013. If it was insane then, then its completely ludicrous now!!! <frustrated buyer> buy now or wait.. always the question.

Congrats to OP for landing a great job and finding a place!!

Quote:
Originally Posted by BigDGeek View Post
Glad everything worked out for you.

Thanks!

I honestly would not wait to buy if you can do it now. At the latest see if you can get into a house this fall / winter. Market should slow down a bit.

I honestly think the DFW market is going to go up steadily for another 2-4 years. Probably another 10% to home values over the next year and a half.

Dallas is going to continue to grow and thrive.
Reply With Quote Quick reply to this message

 
Old 05-02-2014, 01:04 PM
 
222 posts, read 604,069 times
Reputation: 90
Quote:
Originally Posted by Texas Minded View Post
Well, I thought I would update this thread since all has come together for us.

I landed a great job in downtown Dallas, we sold the house in Denver, was able to lock down a short term lease 10 minutes from downtown and are under contract on a house in Forney. The plan is almost completed.

The investment property may have to wait a while though.

Anyway, I can tell you that the market is brutal to be a buyer in. We were focusing for the first part of our search in Rowlett and Wylie... but got discouraged by the competition quickly. We did not want to waste time so we shifted to Forney. Nice quite area. We are happy.
Congrats! Glad all worked out!
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 01:26 PM
 
37,315 posts, read 59,869,570 times
Reputation: 25341
Switching location from Rowlett to Forney might not work for lot of people shopping for home...

FWIW--
I was looking in MLS and saw home in Colleyville (Tarrant county) with this notation on the MLS page--
First viewings being 10AM 4/28...
I saw it on 5/1 and it was under contract...

when we were house shopping in 08--we saw several homes in the Colleyville/Southlake/Keller area 350-450K price range...
At least 3 or 4 times we were the 2nd or 3rd people to tour and wanted to make an offer--
invariably there were already contracts in line and others probably were coming...

the market was hot--some of those homes sold for more than asking price (not to us) because of bidding wars...
I think probably some of those people regret what they paid--but some of them might be able to sell at a profit now--
just depends on who is doing the buying...and the design and location/lot of the home...

a well-designed home with a decent sz lot in good ISD is always going to be a desirable commodity...
some of the homes we looked at even in a hot market were sitting there w/o any offers...
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 01:29 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by Texas Minded View Post
Thanks!

I honestly would not wait to buy if you can do it now. At the latest see if you can get into a house this fall / winter. Market should slow down a bit.

I honestly think the DFW market is going to go up steadily for another 2-4 years. Probably another 10% to home values over the next year and a half.

Dallas is going to continue to grow and thrive.

There are 67 properties on the market in my zip code. I remember back when I was buying, there were over 200 on any given day.

That being said, there are a couple of properties in my neighborhood that aren't selling. Not sure why. I think this one's kind of overpriced even with the renovations (which IMHO are ugly):

638 Westwood Dr, Richardson, TX 75080 - Home For Sale and Real Estate Listing - realtor.com®

This one is just west of me, was just listed, and is already under contract; one look at the slideshow says why:

1003 Newberry Dr, Richardson, TX 75080 - Home For Sale and Real Estate Listing - realtor.com®
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 02:18 PM
 
Location: The Woodlands, TX
1,718 posts, read 1,055,718 times
Reputation: 1147
Quote:
Originally Posted by BigDGeek View Post
There are 67 properties on the market in my zip code. I remember back when I was buying, there were over 200 on any given day.

That being said, there are a couple of properties in my neighborhood that aren't selling. Not sure why. I think this one's kind of overpriced even with the renovations (which IMHO are ugly):

638 Westwood Dr, Richardson, TX 75080 - Home For Sale and Real Estate Listing - realtor.com®

This one is just west of me, was just listed, and is already under contract; one look at the slideshow says why:

1003 Newberry Dr, Richardson, TX 75080 - Home For Sale and Real Estate Listing - realtor.com®
For us, paying over 200K plus for anything under 2000 sq ft is over priced. That's why we went out to Forney. Got 4 beds / 2 baths / 3000 sq ft / quarter acre for under 210k.

Our house hunt was focused on the north, north east and east.

Any decent homes in the North and North East (Plano, Wylie, Rowlett, Sachse etc.) that we saw went under contract within a few days if they were priced right (between 205k and 230k). It got a bit irritating having to deal with the competition and disappointment. Lol.
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 02:24 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by Texas Minded View Post
For us, paying over 200K plus for anything under 2000 sq ft is over priced. That's why we went out to Forney. Got 4 beds / 2 baths / 3000 sq ft / quarter acre for under 210k.

Any decent homes in the North and North East (Plano, Wylie Rowlett, Sachse etc.) that we saw went under contract within a few days if they were priced right (between 205k and 230k). It got a bit irritating having to deal with the competition and disappointment. Lol.
My house is 1820 sq ft and I paid $190k in 2009. The official sale price was $85/sq ft, but I calculate it as $104 since I converted the garage conversion back into a garage and lost that square footage (420 sq ft) as living space. Houses here go more in the $135-$155/sq ft ballpark now, so I got a bargain. I could sell my house tomorrow for $225-$230k in cash. That's less per square foot than other houses sell for, but I wouldn't pay a commission either. Also, my house has not been gutted/renovated like some others. If I redid the kitchen and bathroom and refinished the floors, I probably wouldn't even break even so I definitely wouldn't renovate just to sell.

Over $100/sq ft is not "overpriced" for most areas of DFW. But yeah, if you want a lot of square footage for under $200k, you'll have to go out pretty far to get it. Or live closer-in in a smaller house.
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 02:33 PM
 
Location: The Woodlands, TX
1,718 posts, read 1,055,718 times
Reputation: 1147
Quote:
Originally Posted by BigDGeek View Post
My house is 1820 sq ft and I paid $190k in 2009. The official sale price was $85/sq ft, but I calculate it as $104 since I converted the garage conversion back into a garage and lost that square footage (420 sq ft) as living space. Houses here go more in the $135-$155/sq ft ballpark now, so I got a bargain. I could sell my house tomorrow for $225-$230k in cash. That's less per square foot than other houses sell for, but I wouldn't pay a commission either. Also, my house has not been gutted/renovated like some others. If I redid the kitchen and bathroom and refinished the floors, I probably wouldn't even break even so I definitely wouldn't renovate just to sell.

Over $100/sq ft is not "overpriced" for most areas of DFW. But yeah, if you want a lot of square footage for under $200k, you'll have to go out pretty far to get it. Or live closer-in in a smaller house.
We did not even look at Richardson. I knew that to get a larger home there we would be priced out. That is a very popular area right in the middle of the tech boom here. You definitely have options.

Yeah, we talked it over and decided to just go further out for the bigger home / lot. I don't mind a commute as long as it's under an hour.

In Forney right now you can get newer homes (2004 and up) with over 2500 sq ft for under 215K for sure. Under 200K is starting to get rare out there as well.
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 02:39 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by Texas Minded View Post
We did not even look at Richardson. I knew that to get a larger home there we would be priced out. That is a very popular area right in the middle of the tech boom here. You definitely have options.

Yeah, we talked it over and decided to just go further out for the bigger home / lot. I don't mind a commute as long as it's under an hour.

In Forney right now you can get newer homes (2004 and up) with over 2500 sq ft for under 215K for sure. Under 200K is starting to get rare out there as well.
Yup; it's all personal preference and what's important to you, and what you can compromise on. Me, I didn't want to be too far out. Richardson's about as far out as I wanted to go. I don't have children so space wasn't as big an issue for me as some people. I bought a 3-2 because it's good for resale; it's difficult around here to sell a house with only 2 bedrooms or only 1 bathroom. Schools were a factor too, but only because they're good for resale. I don't plan to sell anytime soon, but you never know. Life changes. I also didn't want long commutes or to limit myself too much commute-wise. I'm in I.T. and we change jobs more frequently than people in most fields.

Again, I'm glad y'all found something that works for you.
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 03:00 PM
 
Location: Irving, TX
692 posts, read 855,558 times
Reputation: 1173
That's my house pretty much to a T, except mine's eight years younger and worth a hundred grand less.
I expect in the next few years that a lot of bargain-shoppers for whom the crappy school district isn't a problem are going to start gentrifying Irving a bit.
Reply With Quote Quick reply to this message
 
Old 05-02-2014, 03:07 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by happycrow View Post
That's my house pretty much to a T, except mine's eight years younger and worth a hundred grand less.
I expect in the next few years that a lot of bargain-shoppers for whom the crappy school district isn't a problem are going to start gentrifying Irving a bit.
Or Garland. Some areas there have really slid. Irving's probably more likely though IMHO.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Dallas
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top