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Old 06-22-2017, 09:04 AM
 
Location: Plano, TX
158 posts, read 181,133 times
Reputation: 192

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Quote:
Originally Posted by Katana49 View Post
Trying to wait out these rising property values and hope to buy in on a downturn is a fool's errand.
I feel the housing crisis of 2008 has conditioned people into expecting a similar crash again. The dynamics of residential housing, and especially DFW, are a little "different" as of now. The primary factors this time are demographics and very limited entry level housing being built. Not to say prices can't go down, but I wouldn't bet on the market crashing like it did in 2008.
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Old 06-22-2017, 09:04 AM
 
Location: garland
1,591 posts, read 2,408,792 times
Reputation: 2003
Quote:
Originally Posted by bringitin View Post
I can wait for 6 months to 1 year.
Baring some catastrophic event, any price difference within that time frame will be negligible. better sign on with a realtor now and start the process.
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Old 06-22-2017, 09:42 AM
 
70 posts, read 74,349 times
Reputation: 101
We first bought in 2009...near the bottom. But DFW housing didn't really retract very much if at all.
We definitely had more leverage as the buyer then...WAY more, but it wasn't like prices were down more than 10% really.
And nothing compared to other large markets.
My taxes went up significantly in 2011.
Things won't be much different in a year...even if there is a slow down.
Housing takes a little while to unwind...especially when everyone keeps moving here.


We recently bought again last month...and I was like you wanting to wait this out.

My theory was that taxes were going to catch up with everyone...and they will/are. If prices conjointly rise another 10% on the appraisals docs this year...then we are going to have some issues. But even then...you are a year+ out before taking advantage of it.
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Old 06-22-2017, 01:49 PM
 
Location: Dallas, TX
944 posts, read 2,041,215 times
Reputation: 761
Quote:
Originally Posted by jdallas View Post
Baring some catastrophic event, any price difference within that time frame will be negligible. better sign on with a realtor now and start the process.
Agreed. Depending on the price range, needs/want list, etc. it wouldn't be that weird for it to take 6 months to actually buy something while actively looking.
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Old 06-22-2017, 04:22 PM
 
113 posts, read 155,649 times
Reputation: 139
Absent an economic recession or a large spike in interest rates, the housing market will not "crash" anytime soon. Even if it does, the average price correction is around 10% or so. Unless you buy at the peak, it's better to not wait. Even if you buy at the peak, housing prices will eventually recover as we've seen in recent years.

For example, if you wait and prices go up 20% and then we have a 10% correction, then you are still paying 8% more in the future than would have today. That number gets worse, the higher the appreciation.
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Old 06-22-2017, 08:50 PM
 
374 posts, read 548,933 times
Reputation: 221
Where are you looking to buy?
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Old 06-23-2017, 10:11 AM
 
9 posts, read 29,069 times
Reputation: 12
Quote:
Originally Posted by Allison81 View Post
Where are you looking to buy?
Looking to buy in plano /frisco area.
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Old 06-25-2017, 08:05 PM
 
352 posts, read 778,257 times
Reputation: 323
All of these fortune 500 companies moving to dallas because of attractive prices.

Do they not realize that them moving here is actually driving up the price to where they just came from?
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Old 06-25-2017, 09:25 PM
 
Location: Plano, Texas
92 posts, read 117,104 times
Reputation: 168
Quote:
Originally Posted by bringitin View Post
Looking to buy in plano /frisco area.
So is everyone else and the influx of transplants among corporate relos have influenced this. I somewhat believe the astronomical valuation hike in Plano/Frisco wouldn't be so severe if public schools in surrounding communities were better.
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Old 06-26-2017, 07:32 AM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by Waytoodeep03 View Post
All of these fortune 500 companies moving to dallas because of attractive prices.

Do they not realize that them moving here is actually driving up the price to where they just came from?
They don't care; when things get bad here they'll move on to the next tax break.
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