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re: North Dallas Home Market is Nuts...
Posted on 3/2/21 at 12:17 pm to jimbeam
Posted on 3/2/21 at 12:17 pm to jimbeam
quote:
39 offers on a rebuild?
Could be
Isn't that the point of the article? That the market is insane right now?
If the buyers really like the location and were able to out-bid everyone with cash, it sort of makes sense.
2
Posted on 3/2/21 at 12:22 pm to Dragula
It's getting like this everywhere. Last fall, my dad finally sold his late mother's house. It was shown 10 times in 3 days and the person who bought it, offered $7k over asking price to secure it. And this is in a town of 25,000 people.
Market is insane right now.
Market is insane right now.
Posted on 3/2/21 at 12:24 pm to Dragula
It's the Californication of Texas. Companies are fleeing Cali to move to Texas & relocating employees are selling their Cali homes for 1-2 million if not more & paying cash for homes in Texas for less than half the price of Cali homes. It is tough to compete with that.
Posted on 3/2/21 at 12:25 pm to Dragula
House may be paid for but they still get to pay that county property tax.... 
This post was edited on 3/2/21 at 12:26 pm
Posted on 3/2/21 at 12:25 pm to IAmNERD
quote:
Market is insane right now.
My house is almost up 100k from what I bought it for in 2017. And that's here in South Carolina.
This post was edited on 3/2/21 at 12:26 pm
Posted on 3/2/21 at 12:27 pm to lockthevaught
quote:
This is why I moved back to Mississippi. frick all that.
Homes in my area of MS are being bought in a day and without a walk-through or inspection
This post was edited on 3/2/21 at 12:28 pm
Posted on 3/2/21 at 12:27 pm to Centinel
Oh I know. Mine is up just over $80k from what I paid in '15 in small town Alabama.
Posted on 3/2/21 at 12:28 pm to Dragula
It is a sellers market. Interest rates are at all time low....it’s like free money.
Houses only stay on the market for 24-48 hours before offers start rolling in.
You have to offer more than asking price to have a chance.
Houses only stay on the market for 24-48 hours before offers start rolling in.
You have to offer more than asking price to have a chance.
Posted on 3/2/21 at 12:28 pm to Dragula
It's amazing how fast these the east and west coasters are ruining entire areas.
Round Rock Tx (suburb of Austin), just had a 2500 sq ft non updated builder grade house in a 90's neighborhood receive 91 offers in 3 days. House was built in the 90's and had zero upgrades. Winning offer was 125K over asking.
The realtor screwed the pouch to get that many offers, but it seemed to me like she put it on the market for last summers price. Crazy thing is this is happening in markets all over the country.
This bubble has to burst at some point.
Round Rock Tx (suburb of Austin), just had a 2500 sq ft non updated builder grade house in a 90's neighborhood receive 91 offers in 3 days. House was built in the 90's and had zero upgrades. Winning offer was 125K over asking.
The realtor screwed the pouch to get that many offers, but it seemed to me like she put it on the market for last summers price. Crazy thing is this is happening in markets all over the country.
This bubble has to burst at some point.
Posted on 3/2/21 at 12:28 pm to PhiTiger1764
quote:
I have honestly never understood how a house gets sold over asking price. Why would a seller ever initially price their home below market value?
Buyers may not like it but some sellers do. Especially because in some markets an asking price just under the probable value is a very good idea. It will bring in more potential buyers. The potential buyers will result in actual competition and a more rapid closing.
As the seller you prefer that over dealing with only one potential buyer. The leverage in that situation is much less. You might have to deal with lowball offers but the alternative can be having the house on the market for a longer time and progressively lowering the asking price.
Posted on 3/2/21 at 12:31 pm to Hangover Haven
quote:
House may be paid for but they still get to pay that county property tax....
No crazy hurricane and flood insurance and $25k deductible though.
Posted on 3/2/21 at 12:32 pm to Dragula
quote:
North Dallas Home Market is Nuts...
Austin says "hold my beer"
January's home inventory was 0.4. The inventory for a balanced market is 6.5.
Friend's son listed his house for $350K (no he doesn't post on the OT) and sold it 24 hours later for $480K.
Besides Californians, there are many New Yorkers buying site unseen.
Posted on 3/2/21 at 12:34 pm to Dragula
Happening everywhere.
People are running away from high COL areas and running up the market everywhere.
In Charleston, there is a roughly 6 week backlog on recording deeds. A property could be bought and sold again before the deed from the original purchase is recorded.
People are running away from high COL areas and running up the market everywhere.
In Charleston, there is a roughly 6 week backlog on recording deeds. A property could be bought and sold again before the deed from the original purchase is recorded.
This post was edited on 3/2/21 at 12:37 pm
Posted on 3/2/21 at 12:38 pm to GetCocky11
quote:
People are running away from high COL areas and running up the market everywhere.
This. And it will only accelerate as more places get comfortable with WFH being a permanent thing.
Posted on 3/2/21 at 12:40 pm to Dragula
I could sale mine for 3 times what I paid for it 16 years ago.
But I wouldn't have anywhere to live
But I wouldn't have anywhere to live
Posted on 3/2/21 at 12:41 pm to Centinel
quote:
This. And it will only accelerate as more places get comfortable with WFH being a permanent thing.
Yeah I want to move within my current city, but I don't want any part of this market as a buyer.
Posted on 3/2/21 at 12:42 pm to Dragula
I drove through Burleson a few weeks back. Holy hell it’s blown up.
Posted on 3/2/21 at 12:43 pm to Dragula
Been like this in the Boston area for the last 7 years.....
Posted on 3/2/21 at 12:45 pm to GetCocky11
I'm glad we moved in to the city when we did. I went from a 35-45 minute commute each way, to five minutes. I make exactly four turns from pulling out of my driveway to pulling in to the parking garage.
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