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Old 12-14-2014, 06:44 PM
 
26 posts, read 34,240 times
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But it seems like we finally got our hooks in one! Would have loved to wait longer, but we moved out here a year ago and our apartment complex in Las Colinas wanted to raise our rent after our lease was up from $1800 to $3000 to go month to month so time was of the essence.

Anyways, any decent house in either area had throngs of people wanting in...missed out on quite a few nicer houses, but ultimately ended up with a smaller place that is much more affordable for our budget. I had to make the offer without my wife even seeing the place!
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Old 12-15-2014, 05:26 AM
 
Location: Grapevine, Texas
9,823 posts, read 20,508,296 times
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Where did you end up buying, and in what price range? I only ask because there are a couple of houses near me in Grapevine that are just sitting n the market...
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Old 12-15-2014, 06:39 AM
 
Location: DFW - Coppell / Las Colinas
31,980 posts, read 36,613,387 times
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Coppell has always been this way even when the market slowed.
Most people who want to live there end up in Flower Mound, Lantana or Castle Hills due to the lack of housing.
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Old 12-15-2014, 10:57 AM
 
Location: Colleyville
905 posts, read 953,660 times
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Our situation was similar. Ended up in a smaller, but high quality, well built home in a great neighborhood. It has been an adjustment but we are loving it. We have a few more projects but nothing major- we did most of what we wanted before moving in. We were the first to look at this house- went right to the realtor's office to write the offer- then bit our nails and waited for 24 hrs- then we were asked for best and final offer as 6 more offers had come in after 1 day on the market. We lost out on 3 houses in Coppell and 2 in Colleyville before this one! Congratulations! It's a great area.
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Old 12-15-2014, 07:50 PM
 
26 posts, read 34,240 times
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Quote:
Originally Posted by ChristieP View Post
Where did you end up buying, and in what price range? I only ask because there are a couple of houses near me in Grapevine that are just sitting n the market...
Off of MacArthur and about a mile up from Sandy Lake Road.

In the $250,000 range.

As we enter the option period, I am getting a little worried about lack of closet space that we are accustomed to in our 1150 sq ft apartment that this house is lacking...also smaller counter space in the kitchen.

Doubts are creeping in.

What houses in Grapevine near you...maybe we missed one and we still have a couple of days! Willing to go up to $350,000 for the right house.
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Old 12-15-2014, 08:28 PM
 
Location: Grapevine, Texas
9,823 posts, read 20,508,296 times
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The house near me is on Willowood Dr. It's not in a good elementary school zone, but the higher grades are fine.

Winter is the WORST time of year to try and buy a house. Most people list theirs on the spring or summer.
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Old 12-16-2014, 05:35 AM
 
30,065 posts, read 47,312,423 times
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true--
and speaking as someone who bought a house when the market was hot and homes were at a premium--
don't buy a house where you regret issues like closet space and kitchen design--
those are factors that you can't do ANYTHING about really wo spending lot of money
consider letting the house go back and wait

even take another apt lease
the downturn in oil prices is going to stay this way for year or more--it will take some time to effect the market but it will
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Old 12-16-2014, 07:10 AM
 
Location: Dallas, TX
48 posts, read 46,692 times
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Quote:
Originally Posted by loves2read View Post

even take another apt lease
the downturn in oil prices is going to stay this way for year or more--it will take some time to effect the market but it will
Do you really think the price of homes in the DFW area will decrease with the amount of people moving into the Metroplex? It seems every time you turn around another company announces they are moving to the Metroplex.
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Old 12-16-2014, 09:31 AM
 
26 posts, read 34,240 times
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Quote:
Originally Posted by loves2read View Post
true--
and speaking as someone who bought a house when the market was hot and homes were at a premium--
don't buy a house where you regret issues like closet space and kitchen design--
those are factors that you can't do ANYTHING about really wo spending lot of money
consider letting the house go back and wait

even take another apt lease
the downturn in oil prices is going to stay this way for year or more--it will take some time to effect the market but it will
I agree. But we are only planning on being in it 2-3 years. We have an almost 2 year old and one on the way and there is a park with playground literally out the garage door. So it would be really nice for my wife who will quit working after baby 2 to not have to load two kids in the car just to go to a park. I really like the park and neighborhood more than the house and really don't see a problem with a quick resale. Am I crazy for thinking this way?

We have lived in a 700 sq ft apartment in San Francisco, now an 1150 sq ft in Las Colinas, and this house is 1750, but feels smaller than our current apartment. Having doubts about the house, but I know it will resale quickly.
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Old 12-16-2014, 09:39 AM
 
Location: Grapevine, Texas
9,823 posts, read 20,508,296 times
Reputation: 7200
You are most likely going to lose money unless you hold for at least 5 years. Our market prices do not appreciate that quickly, so with closing costs and commissions, it takes a while to build equity. Personally, I would have found another place to rent.

I doubt the drop in oil prices will affect home prices here in DFW. It will surely have an affect on Midland/Odessa.
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