N.Irving, Coppell, Carrollton -- Bidding Wars? (Frisco: houses, buying)

[TheotherMarie]

Inventory seems low for houses in the $375,000 - $425,000 range in North Irving, Coppell, and Carrollton areas.
Are there bidding wars going on for these houses?

What price range do you have to be in to avoid a bidding war these days?

And while we're here... what about bidding wars in Frisco in this price range?
Not our target area, but it would be one for us to consider.

[some1livesinamerica]

last yr, two of my colleagues were trying to buy in coppell, the place to live if you are working in valley ranch. if i remember correctly, on one of the houses that my colleague bid on, he offered close to the asking price, got outbid by an all cash offer.
fast forward, those 2 colleagues, one ended up buying in flower mound, the competition in coppell became a little overwhelming for him, :-). the house that he bought was listed at 245k, he checked the house online first, really liked it, offered 250k? the seller countered at 253k, he agreed and got the house.
the other one bought a fsbo house in coppell.

[TheotherMarie]

Originally Posted by some1livesinamerica

last yr, two of my colleagues were trying to buy in coppell, the place to live if you are working in valley ranch. if i remember correctly, on one of the houses that my colleague bid on, he offered close to the asking price, got outbid by an all cash offer.
fast forward, those 2 colleagues, one ended up buying in flower mound, the competition in coppell became a little overwhelming for him, :-). the house that he bought was listed at 245k, he checked the house online first, really liked it, offered 250k? the seller countered at 253k, he agreed and got the house.
the other one bought a fsbo house in coppell.

Yeah, I would expect bidding wars for anything in that price range anywhere in the metroplex. Things are crazy!

But if we up the ante $100k or more, are we still looking at a bidding war??

[JJ09990]

I bought in Coppell at a lower price point in march.. I won my bidding war And the appraisal was only short $500. 1 story homes in Coppell are either in bidding wars or sitting there because of foundation work. 2 story homes over 400 sit a few weeks, and homes in the River chase area not zoned to Coppell schools are selling for under asking price or sitting for months.

[TeamLynn]

In Coppell, VR, and Frisco and many other areas you will often see multiple offers on homes under $400K...and it gets worse as you slide down the price range. Lots of cash, Lots of over bidding, lots of strong offers all the way around....

We do have strategies that can help you get the home....but I'm telling buyers now...don't get set on one house. Have a backup plan...or have 4-5 backup plans. Almost anything ugly can be fixed.

What I am seeing is more weakness in many areas at 600K and above...I'm seeing more price reductions, longer DOM, more negotiation.

Good luck.

[TheotherMarie]

Originally Posted by TeamLynn

In Coppell, VR, and Frisco and many other areas you will often see multiple offers on homes under $400K...and it gets worse as you slide down the price range. Lots of cash, Lots of over bidding, lots of strong offers all the way around....

We do have strategies that can help you get the home....but I'm telling buyers now...don't get set on one house. Have a backup plan...or have 4-5 backup plans. Almost anything ugly can be fixed.

What I am seeing is more weakness in many areas at 600K and above...I'm seeing more price reductions, longer DOM, more negotiation.

Good luck.

Thank you. I appreciate the input.

[prince_a1]

Originally Posted by JJ09990

1 story homes in Coppell are either in bidding wars or sitting there because of foundation work.

Are these the homes that currently have foundation issues and need repair, or the houses that have had foundation repair done in the past? Wondering if past foundation repair that was done and has lifetime warranty still causes a house to sit on the market, or do the buyer's not care now because the issue was fixed?

[JJ09990]

Originally Posted by prince_a1

Are these the homes that currently have foundation issues and need repair, or the houses that have had foundation repair done in the past? Wondering if past foundation repair that was done and has lifetime warranty still causes a house to sit on the market, or do the buyer's not care now because the issue was fixed?

I was referring to homes currently needing work. My house had a previous repair. Didn't stop me... or the other folks who bid on it. I just had my own engineer verify that the repair was holding.

[Rakin]

You will almost always get in a bidding war if you try to get into Coppell ISD. Not so much C-FB ISD unless you're under about $350.

[mSooner]

I'm curious to hear what the realtors think about this--it seems to be getting a bit better. Friends that are currently looking say it isn't as competitive and prices have gone up, but they don't seem to have gone up quite as sharply this spring.

And I've seen 1 or 2 overpriced homes simply sit on the market whereas last year and before even those seemed to go.