Real Estate Agent Recommendations for M-Street / Lakewood Area (Dallas, Spring: foreclosure, credit)

[theusualsuspect]

I'm looking to buy a house in this area that is either a foreclosure or enough of a fixer upper to make it challenging. Like everyone else I don't have a lot cash to throw around, but I'm hoping there's still a few not-yet-updated older homes in this area that can be had under $160K.

I'm also interested what the market is like in that neck of the woods. I know it's a popular place to be, but with everything that's happened the last three months I'm guessing it's slowed down a bit.

Anyone know a realtor that knows this area and can get me a deal? If all goes to plan I intend to buy/sell a few of these houses over the next two years.

Thanks.



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[Smito]

I know of one house that sold for 175K on Morningside about a year ago and it was in very bad shape. They leveled it and built a new home. M street wise, I don't think you'll find a fixer upper for 160K.

[theusualsuspect]

Looks like I'm a little late to the party for the M-Streets area. I know there are similar houses around Kidd Springs if I recall. Maybe I should look at the "next M-Streets"

[billdfw]

Lots alone (dirt only) in the M Streets still go for around $200k, even in this down market, so I don't think you will find a house there for $160k. Unfortunately, there are not too many decent places to live in Dallas City Limits for that price. The only one that I can think of is Little Forest Hills, but that's it. Everything else will be at least transitional or at the worst, downright scary.

Good luck.

[nsumner]

Steve,

The other hurdle you would have to ovrecome is secure financing for a fixer upper. Most homes in that condition in the M-Streets or anywhere else are very difficult to obtain financing for unless you are putting a sizable downpayment and have a squeeky clean credit history.

There is only one Prairie Style home in the M Streets right now that is an estate sale, priced below 170K and is a diamond in the rough. There are a few others close to this area but not in the immediate neighborhood.

Naima

[Smito]

Originally Posted by billdfw

The only one that I can think of is Little Forest Hills, but that's it. Everything else will be at least transitional or at the worst, downright scary.

Good luck.

Excellent suggestion!

[pepper131]

A couple of severely transitional areas are Parkdale (is sometimes called the next M-Streets) and Peaks-Suburban.

Home ‎(Parkdale/Lawnview Association of Neighbors (PLAN)‎)

Peak's Addition Homeowners' Association