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Started By
Message
re: North Dallas Home Market is Nuts...
Posted on 3/3/21 at 11:24 am to JayDeerTay84
Posted on 3/3/21 at 11:24 am to JayDeerTay84
quote:
I think we are going to hold off on listing until we are ready and find a place.
sort of in the same boat, I'm in Tarrant county and there's almost bidding wars going on, I'm ready to cash out but don't have a place to go yet
1
Posted on 3/3/21 at 11:27 am to 777Tiger
quote:
sort of in the same boat, I'm in Tarrant county and there's almost bidding wars going on, I'm ready to cash out but don't have a place to go yet
Yea I am wanting to move out that way, but I want some land. Tired of neighbors... So I know the build process or finding something will take time. I don't want to get caught in a sell with no place to go.
Posted on 3/3/21 at 11:28 am to TigersnJeeps
Sold my house in NWFL yesterday for over asking price within 3 hours of signing an agreement with the realtor. The market is insane here and surely we're headed for another crash.
Posted on 3/3/21 at 11:30 am to JayDeerTay84
quote:
I want some land.
same here, seems like you have to get pretty far out to find decent land at a reasonable price, saw an old tear down on the Southlake/Westlake border on a couple of acres, fsbo, I called on it and the guy wanted over $2mil for it
Posted on 3/3/21 at 11:33 am to 777Tiger
quote:
same here, seems like you have to get pretty far out to find decent land at a reasonable price, saw an old tear down on the Southlake/Westlake border on a couple of acres, fsbo, I called on it and the guy wanted over $2mil for it
Yea, there are some spots West and also North above HWY 82 when decent prices.
Just depends on your situation. I travel for work a lot already and in OKC a lot. The main thing is the wife and kids.
This post was edited on 3/3/21 at 11:34 am
Posted on 3/3/21 at 11:35 am to TheHardyBadger
This shite really sucks for young parents like my wife and I.
Not looking to buy now but in a couple years. All the equity in our starter home (maybe 65-75k?) means Jack shite if we're up against cash buyers from New York and California.
My question is who the frick is buying up the inventory in New York and California as these people flee? Or are they buying second homes?
Not looking to buy now but in a couple years. All the equity in our starter home (maybe 65-75k?) means Jack shite if we're up against cash buyers from New York and California.
My question is who the frick is buying up the inventory in New York and California as these people flee? Or are they buying second homes?
Posted on 3/3/21 at 11:36 am to JayDeerTay84
quote:
West and also North above HWY 82
near what towns?
quote:
I travel for work
working from outside the metroplex I could handle, but the old lady's office is in Dallas and she's all over the metroplex for work
Posted on 3/3/21 at 11:54 am to 3nOut
A friend of mine's house in Seattle is selling for 475k over asking price. Listed at 1.375 million. The market is crazy everywhere.
Posted on 3/3/21 at 11:55 am 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?
We sold ours 2 years ago in Memphis. Listed for 195k, which was on par for the neighborhood/market at the time. House was shown 24x the first day. Ended up getting a handful of offers at our asking price, and a handful over our asking price. Ended up getting $215k for it, which isn't crazy money; but this was also 2 years ago before the rates really dropped and the housing market went nuts. It's not listing your house below market value. The comps around us showed that ours was listed right where it was supposed to be. The buying market is so competitive now b/c of the rates that folks are willing to pay more just to get the house, and if you can't understand why a seller wouldn't accept more money than asking price then I don't know what to tell you. I'm in Madison, MS now and it's crazy how fast things are moving in this market. My BIL just sold and is looking. Went last Saturday and looked at 4 houses that just hit the market that morning. All had offers by Saturday evening.
This post was edited on 3/3/21 at 11:59 am
Posted on 3/3/21 at 12:37 pm to Dragula
Massachusetts here 20 minutes from Providence. Our home had appreciated at-least $150K since we purchased it 5 years ago.
Same as others in this thread: tens of thousands above asking and ALL CASH. No inspection, and they don’t care if title 5(septic) passes or not.
Insanity.
Same as others in this thread: tens of thousands above asking and ALL CASH. No inspection, and they don’t care if title 5(septic) passes or not.
Insanity.
Posted on 3/3/21 at 12:41 pm to Muthsera
Either these people are buying the second home to live in while renting out the other home or they are selling to foreign buyers / investment buyers who have been snapping up prime real estate in LA, NY, London, etc, for years.
Posted on 3/3/21 at 12:43 pm to onthebay
quote:
That’s going to be an hour and a half sitting on Folly Road in the summer.
And no way around it with golf carts or anything, right? I think I asked the realtor I've been emailing with and she said no golf carts on Folly Rd.
Posted on 3/3/21 at 12:44 pm to ell_13
quote:
An appraisal is a fricking racket. The house is worth what someone is willing to pay. Period. If the appraisal is thousands below, then so fricking what.
Uh, it matters if you're the mortgage company. Because it's their money you're spending.
Posted on 3/3/21 at 12:47 pm to Chucktown_Badger
quote:
Uh, it matters if you're the mortgage company. Because it's their money you're spending.
Good luck purchasing a home with anything but cash up here, unless you are making up whatever difference out of your own pocket.
Posted on 3/3/21 at 12:48 pm to teke184
quote:
Either these people are buying the second home to live in while renting out the other home or they are selling to foreign buyers / investment buyers who have been snapping up prime real estate in LA, NY, London, etc, for years.
different things drive the market, around here you have three major companies moving their hq here, and this has been going on for decades, and people moving here are more or less playing with "house money," paid move, paid closing(on both ends,) and probably have a lot more equity from sale of homes in AZ/CA, all of that coupled with a short supply of inventory here
This post was edited on 3/3/21 at 1:02 pm
Posted on 3/3/21 at 12:54 pm to texasmason
quote:Bought in McKinney 5 years ago. Basically every house we'd look at hit the market that same day. We'd look at a house, like it, email the realtor for the house, and he'd reply back saying it was already under contract that same day, day 1.
I had a buddy that bought in Frisco and he went 15K over asking and guaranteed 10K over whatever the appraisal came in short.
Only reason we really found one is the realtor assisting us had a client he was going to help sell their house, so he basically linked us up, and we got to view the house and essentially had a deal in place before it even went to market.
Posted on 3/3/21 at 12:55 pm to LasVegasTiger
quote:
Took me 14 offers the past 2 months to get an agreement in Idaho. 6 I lost out to where for cash offers, one was $45K over asking. It was crazy.
We will never buy a house here. We moved because we wanted to be somewhere with a better school system, low crime, etc. We love it here, but it's just not doable. I'll graduate soon so my thinking now is grind it out in a big city, then have enough experience to land a job in a shithole city with wealth inequality.
It sucks, and I don't want to do it, but I want to own a house.
Posted on 3/3/21 at 1:01 pm to texn
quote:Damn, what freaking stimulus checks were they getting? I missed out on those.
Previous non-home owners able to now buy because of stimulus checks
Posted on 3/3/21 at 1:27 pm to Chucktown_Badger
quote:
And no way around it with golf carts or anything, right? I think I asked the realtor I've been emailing with and she said no golf carts on Folly Rd.
One way on and off Folly.
Unless you're in a boat. You'd get killed on Folly Rd in a golf cart even if it were legal. It'd be like these maniacs riding bicycles on busy roads with a 50+ mph speed limit.
You have to go kind of early to beat the traffic, well before noon. It's by far the coolest beach in town, though. Folly, IOP, Sullivan's, Kiawah are all completely different experiences.
Posted on 3/3/21 at 1:36 pm to onthebay
quote:
onthebay
Makes sense. I guess the cool thing is that if you live within a few miles you can bike over, and just have one of those "kid haulers" loaded up with your beach gear and adult beverages
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