Is inventory lower than expected right now? (Plano, Coppell: sale, 2014)

[tuesday2]

Originally Posted by vansgirl

Thanks!

We sold our pool fence when we moved, it was still in perfectly good condition. The person who bought it had to have it installed or do it themselves, but they got it for a third of what it would cost new. Maybe you can shop your neighborhood websites and find one for sale.

Or depending on how the back yard is set up, just do a fence that encloses the patio or smaller section of your yard, keeping small kids out of the pool area but wouldn't necessarily go all the way around the pool. My parents did this, the fence goes across their patio and attaches on each side to the walls of the house but not around the whole pool. They just put it up when the younger grand kids are coming over.

[vansgirl]

OP here--it seems that cash offers with no contingencies definitely have the upper hand, so I'm thinking about holding off on buying until late June/early July. At that point our house will have sold so we'll have the cash. Probably a little risky in that inventory will have slowed down.

[turf3]

When houses in Coppell are selling for over asking price and attracting bidding wars, you are in a bubble. (We're talking about dime a dozen tract houses in the exurbs (next to the airport) here, not one-of-a-kind houses of architectural distinction with fantastic sites.) If you can manage it, it's probably a good idea to defer buying for a year or two till the bubble deflates again.

[EDS_]

Originally Posted by turf3

When houses in Coppell are selling for over asking price and attracting bidding wars, you are in a bubble. (We're talking about dime a dozen tract houses in the exurbs (next to the airport) here, not one-of-a-kind houses of architectural distinction with fantastic sites.) If you can manage it, it's probably a good idea to defer buying for a year or two till the bubble deflates again.

That's remotely close to why home prices deflated in the late '00s. So why is your confidence so high? Now, I'd agree that recent rates of growth aren't going to continue for too much longer. That, however, is not the same as a bubble bursting either.

[turf3]

Huh? could you rephrase that?

[vansgirl]

Originally Posted by turf3

When houses in Coppell are selling for over asking price and attracting bidding wars, you are in a bubble. (We're talking about dime a dozen tract houses in the exurbs (next to the airport) here, not one-of-a-kind houses of architectural distinction with fantastic sites.) If you can manage it, it's probably a good idea to defer buying for a year or two till the bubble deflates again.

I can't defer for a year... and I don't want to actually. It wouldn't make sense bc I'd be paying crazy rent prices when my current mortgage payment is less.

But my plan is to wait until the new school year is around the corner--less competition.

[Soh Cah Toa]

It doesn't seem like the last bubble hurt Dallas too much. Do you think the median home price will drop soon?


I'm getting married in May, and will be looking to buy after that. While I'd love to find a place soon, I'm going to take a patient approach and only offer what I think is appropriate. If it takes me a year or 2 to find something, I'm okay with that, but I don't want to wait too long, while prices continue to soar.

[Brookside]

Originally Posted by vansgirl

OP here--it seems that cash offers with no contingencies definitely have the upper hand, so I'm thinking about holding off on buying until late June/early July. At that point our house will have sold so we'll have the cash. Probably a little risky in that inventory will have slowed down.

Will it take that long to sell your existing house? (maybe you are not yet in DFW, I may have missed that).

I do see quite a few "Active-Contingent" listings. A couple of my neighbors (not in Coppell) have accepted contingent offers instead of cash because a. the buyers homes' are in good areas/sure to sell; the buyers paid 10% over asking, c. the buyers agreed to a lease back deal if the sellers had any delays in taking possession of their new houses.

The cash buyers all wanted a quick close and immediate possession. The extra time gave the sellers some breathing room, etc.

Just a thought ...

[LoveAussie]

Originally Posted by turf3

When houses in Coppell are selling for over asking price and attracting bidding wars, you are in a bubble. (We're talking about dime a dozen tract houses in the exurbs (next to the airport) here, not one-of-a-kind houses of architectural distinction with fantastic sites.) If you can manage it, it's probably a good idea to defer buying for a year or two till the bubble deflates again.

I was told the bubble of Dallas market was about to blow up since the day one I came to Dallas, and I kept seeing the prices goes higher and higher...

The house I toured once sold no more than 1.5 years ago was on market again, and the price increased about 15%, and I don't doubt this house will be sold soon...

[vansgirl]

Originally Posted by Brookside

Will it take that long to sell your existing house? (maybe you are not yet in DFW, I may have missed that).

I do see quite a few "Active-Contingent" listings. A couple of my neighbors (not in Coppell) have accepted contingent offers instead of cash because a. the buyers homes' are in good areas/sure to sell; the buyers paid 10% over asking, c. the buyers agreed to a lease back deal if the sellers had any delays in taking possession of their new houses.

The cash buyers all wanted a quick close and immediate possession. The extra time gave the sellers some breathing room, etc.

Just a thought ...

Yes, I'm already here in DFW I need to fulfill my contract with HUD by closing on my house after May 22. I can try to put in contingent offers, but I know that clean offers with cash are more attractive. My husband will never pay more than asking price for a house unless it's nothing short of spectacular.