re: The Wild DFW Housing Market--my experience

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If you want to buy a starter home in Dallas proper, you're going to pay $400k.

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My wife and I have sadly come to this realization. We've been renting in Dallas for a year and a half and it's just insane how little you get for your money here (unless you are willing to take a chance at buying in a seedy neighborhood).

Does anyone have a recommendation for an area to look for houses in the $250K range for a young married couple (mid 20s) with no children?

If you are selling your house that quickly then you are underpriced. This is the definition of an agency problem. The agent has every incentive to flip the house as quickly as possible because the net benefits of a few extra grand doesn't mean much for the agent.

You could have listed for 20K more and still had people offer over ask. Dallas is as much of a sellers market as you will ever see...if you are patient, then you can find a buyer that will overpay because they are tired of the process. Now, you may need someone who is all cash because otherwise the financing could fall through.

I'll report back on a couple months when my rent lease is up for renenwal. Only went up about $40 this last year so cheers to hoping the same happens again.

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Just read an article today about the acceleration of the great southern migration. Housing markets in Atlanta, DFW, Houston, Austin, Nashville, etc. show no signs of cooling off.

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All economic data here in Middle TN show no signs of slow down until 2020, and they expect a dip back to 2016 levels.

The MTV generation has been replaced by the HGTV generation. Works for me.

Exactly. Some of these places like Atlanta are extremely overbuilt.

But statistically, Millennial home ownership is low, I'd imagine its even lower in the big metro areas we are talking about. Most of my friends in Dallas are in their upper 20s and all still renting.

I can't afford to buy a house in this market, and probably won't for a few years. I'd rather rent in the uptown area than move to the burbs.

I just bought 7 acres in Waxahachie, 30 min from Dallas.

If you are going to work in Dallas and want somewhere reasonable to live, Midlothian/Mansfield/Waxahachie is the way to go.

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Rent.

I was approved for 250k through Rocket on my income and credit history and I came to the realization I needed 50K more to get into the neighborhoods I want. I am single though, so either its get a raise or find a wife.


I think I'll try the first right now lol...

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Make sure she has a job, and if she does, you will live where "she" wants......

I'm renting an updated 3 bed in Richardson. Good deal for close highway access, good food, relaxing and chill location. Dfw apartments are ridiculous though. The State Farm hq has jacked up home prices in the 75/635/tollway area.

Been here 6 years, apartments, duplexes, and updated homes being built non stop but rates keep going up year after year. Wish I could find a way to get in on the market before it goes down

That's I-35 Corridor, so if you leave the house by 6am you will just get a small blip of rush hour into Uptown. Once you pass Uptown the bulk of traffic switches to southbound coming in from North Dallas. Should be smooth sailing until you hit Frisco, because it's becoming another job center pretty much.

If you are going East on 20 or 30 I will say a prayer for you.

So pretty much factor in 45-1hr depending on how far north you have to go.

For example for me: From Carrollton to Grand Prairie under moderate traffic load using PGBT is 57 min.