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Old 05-19-2011, 09:07 PM
 
21 posts, read 55,947 times
Reputation: 22

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Hello,

I was just toying with the idea of buying a condo instead of renting. The idea just came to me tonight. I think I will stay with a friend for a few months until I can maybe find a condo. I am single, but I might have friends come live with me. I'm not sure if it's a good idea. I don't know if I am ready to buy a house since it will be too much work for me to take care of it, but I guess I am open to the idea. How hard is it to sell back a condo? Is it wiser to rent for now?

I want a newer place and my price range is anything less than $200K.
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Old 05-19-2011, 09:30 PM
 
13,194 posts, read 28,104,411 times
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RENT.

Carrollton has one of the worst housing markets in DFW right now. April sales prices were down 11% to LY (one of the steepest drops- quite a few areas in DFW increased in price) AND 20-something% LESS homes were sold than LY (shows ultimate weakness as buyers are not committing as thy expect prices to fall even more before getting back in).

Furthermore, DFW is a HORRIBLE market for condos outside a few select urban neighborhoods close to downtown Dallas and downtown Fort Worth. Most have been declining in value since they were built. Ouch.

Just rent. Or pick a more stable neighborhood/suburb market to buy a single-family home.
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Old 05-19-2011, 09:32 PM
 
Location: North Texas
24,561 posts, read 40,090,027 times
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Quote:
Originally Posted by TurtleCreek80 View Post
RENT.

Carrollton has one of the worst housing markets in DFW right now. April sales prices were down 11% to LY (one of the steepest drops- quite a few areas in DFW increased in price) AND 20-something% LESS homes were sold than LY (shows ultimate weakness as buyers are not committing as thy expect prices to fall even more before getting back in).

Furthermore, DFW is a HORRIBLE market for condos outside a few select urban neighborhoods close to downtown Dallas and downtown Fort Worth. Most have been declining in value since they were built. Ouch.

Just rent. Or pick a more stable neighborhood/suburb market to buy a single-family home.
This!
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Old 05-19-2011, 09:48 PM
 
21 posts, read 55,947 times
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Thanks so much!! I wasn't really sure if I really want to stay in Carrollton forever. It's just that my job is close to it right now. So I might eventually move again in the future. At least now I can use that money for something else. You guys are so awesome.
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Old 05-20-2011, 08:17 AM
 
Location: Simmering in DFW
6,952 posts, read 22,603,830 times
Reputation: 7295
Have you considered a garden home/villa? I would probably avoid Carrollton, but there is a really nice section in Valley Ranch (which is quite well located to Carrollton) and the HOA fee (about $90/month) includes lawn care. I have owned a property in this community and was very happy with resale and its pretty much an all adult community with great access to walking paths and shopping. Its a gated community called Villas of Beacon Hill. There is also another similar section call the Casitas. I noticed 2 properties there that probably need work but worth checking out b/c properties typically run between $250-300K.

8609 Ironwood Dr Irving TX - Home For Sale and Real Estate Listing - MLS #11481154 - Realtor.com®

8614 Old Oak Dr Irving TX - Home For Sale and Real Estate Listing - MLS #11590620 - Realtor.com®
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Old 05-20-2011, 11:11 AM
 
Location: The greatest neighborhood on earth!
695 posts, read 1,441,841 times
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I would never do a condo or town home in Carrollton. Probably the only good places to live in Carrollton from a resale perspective are the North Carrollton area, which is zoned for Lewisville schools. I lived in Carrollton for a number of years and it has a lot of positives but you need to be very careful buying a property there.

If you want to stay in Carrollton, continue to rent.
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Old 05-20-2011, 05:53 PM
 
21 posts, read 55,947 times
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The reason why I want to stay in Carrollton is because it's not too far away from work (30min) and I wouldn't be too far away from Dallas-area. Others have suggested Lewisville. I'm not too worried about the school system for now.

Obviously, I would rather stay in other areas, but it seems like it's the best option for me right now to stay in Carrollton.
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Old 05-20-2011, 06:48 PM
 
525 posts, read 533,545 times
Reputation: 736
What about Farmers Branch?
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Old 05-20-2011, 08:18 PM
 
21 posts, read 55,947 times
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I'm looking for a place that has a lot of Asian restaurants. I'll probably spend a few weeks there looking for a place. I am just trying to narrow my search. it doesn't seem like Farmers Branch has a lot of that??
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Old 05-20-2011, 09:47 PM
 
Location: North Texas
24,561 posts, read 40,090,027 times
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Quote:
Originally Posted by emgaivn View Post
I'm looking for a place that has a lot of Asian restaurants. I'll probably spend a few weeks there looking for a place. I am just trying to narrow my search. it doesn't seem like Farmers Branch has a lot of that??
Richardson does. Ditto Plano.
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