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Old 07-25-2015, 02:13 AM
 
151 posts, read 164,079 times
Reputation: 167

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Quote:
Originally Posted by lovethisarea View Post
Wow!!! This is awesome on your part for performing such analysis.
Given current overuse, the term "awesome" became synonymous with "average" several years ago.
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Old 09-05-2015, 11:41 PM
 
6 posts, read 4,760 times
Reputation: 11
Did you actually go through 20+ bidding wars? We are relocating in June and what I read about the housing market makes me very nervous about trying to buy a house there .
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Old 09-06-2015, 08:25 AM
 
Location: Prosper
6,268 posts, read 12,179,869 times
Reputation: 9332
Quote:
Originally Posted by ZPetals View Post
Did you actually go through 20+ bidding wars? We are relocating in June and what I read about the housing market makes me very nervous about trying to buy a house there .
Depends on the price range you are looking. If you're hoping to find something around $300k, then yes, be prepared to go up against several other buyers. It starts to thin out above $400k, but even then, competition is still tough.

We bought our house at $500k and we were the first people to see the house. (The house went on the market on a Friday. They had an open house scheduled on Saturday. We went and saw it on Fri, and we had an offer in by Friday night, which they accepted by Sat morning, before they even had their open house.)

By the end of the day Saturday after the open house, they had multiple offers, I'm sure some were probably even better than ours, but it didn't matter, ours was already accepted.
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Old 09-06-2015, 09:21 AM
 
Location: DFW - Coppell / Las Colinas
30,020 posts, read 34,700,336 times
Reputation: 36058
Quote:
Originally Posted by MckinneyOwnr View Post
By the end of the day Saturday after the open house, they had multiple offers, I'm sure some were probably even better than ours, but it didn't matter, ours was already accepted.
Huge mistake by the listing agent to take the 1st offer. Most have learned to sit back and wait 4-6 days and let all offers be submitted.
That agent may have cost the seller $10-20k. Good deal for you.

Relocating in June means you will buy a home in April / May. That is the absolute worst time as a buyer to be in the market.
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Old 09-06-2015, 09:43 AM
 
27,611 posts, read 45,155,717 times
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Yes Rakin---total mistake and cost them $$.

We know couple moving from FL to DFW area...looked in Colleyville and Grapevine because couldn't afford Southlake. Lost several homes to other bidders. Offer accepted on one house in Grapevine...appraisal came in 15K below accepted full price offer. The buyers said no way are we making that up,out of our pocket. Sellers finally caved and agreed to lower price...
This after paying for roof repair (via insurance claim) and some repair of window seals...
So the buyers made out like crazy...
Put that down to bad realtor info on sellers's side----other issues also brought out that realtor's lack of skills...

Know someone selling house in Keller because of marriage. She was going to Napa for wedding. Put house on market. Her realtor said all offers taken Day 1 until 530...
Best offer going to be taken...got multiple offers, several over list. Took highest offer which happened to be for all cash so no appraisal needed I guess.

Be prepared w/financing in order...get agent who knows the area and his/her job..and be realistic about what you have to have...
Many homes are older...not updated...but still expensive price per sq ft...
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Old 09-06-2015, 12:49 PM
 
Location: Prosper
6,268 posts, read 12,179,869 times
Reputation: 9332
Quote:
Originally Posted by Rakin View Post
Huge mistake by the listing agent to take the 1st offer. Most have learned to sit back and wait 4-6 days and let all offers be submitted.
That agent may have cost the seller $10-20k. Good deal for you.
She was very inexperienced, especially with the particulars of these sellers.

They were going through bankruptcy, and a judge needed to sign off on the deal before they could sell the house anyway, and she didn't know that.

But also because of that, the sellers didn't care how much they got for the house, all the proceeds went to the bankruptcy trustee, they only got to keep a couple thousand.
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Old 09-06-2015, 06:37 PM
 
988 posts, read 1,900,352 times
Reputation: 1083
Is everyone that moves into DFW trying to move into the same few cities?
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Old 09-06-2015, 07:30 PM
 
Location: Mostly in my head
19,657 posts, read 53,709,018 times
Reputation: 18605
Yes b/c everyone wants "new house, open floor plan, good schools." This is quite limiting.
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Old 09-06-2015, 09:04 PM
 
Location: North Texas
23,631 posts, read 31,299,087 times
Reputation: 26707
Quote:
Originally Posted by rantanamo View Post
Is everyone that moves into DFW trying to move into the same few cities?
Seems that way, but we've had some transplants move into our area too.
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Old 09-06-2015, 11:22 PM
 
2,035 posts, read 1,447,317 times
Reputation: 3046
Quote:
Originally Posted by rantanamo View Post
Is everyone that moves into DFW trying to move into the same few cities?
Where would you have them move? To South Dallas? I'm sure they could find plenty of inexpensive homes there, with very little to no bidding competition.
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