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Old 09-12-2018, 06:20 PM
 
37,315 posts, read 59,511,430 times
Reputation: 25330

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Quote:
Originally Posted by houstonview View Post
sine my last post I’ve saw some home are still flying off market in some areas, but some still on the market now going on their 3rd price drop.

4-5 realtors at open houses have told me things have cooled down without me any asking how the market is, just in regular conversation.

one home I was at out of my budget by 40k, just was checking out the neighborhood. The listing realtor told me don’t let that be a factor put in a offer. I was like oh wouldn’t something like that be a lowball, he said only one person came, he can’t tell me what to do but howvee suggested us to put in a offer for what I can pay if we like the house.

ONCE AGAIN not saying a crash is coming, the job market is super strong, and things are up year to year.
Some houses have individual issues that make them less desireable
Many homes in my area of Tarrant country at one time had all beds up in 2story
Those homes now that they are 15-20 yrs old only sell if they are the ONLY ones on the market
People want a first floor master and often want two master suites because they have parents or grandparents living w/them---
Two masters are available in only certain locations because they usually require a larger first floor foundations/bigger lot size--

The fact that some houses are dropping their prices multiple times just means THOSE houses are not that desireable and people are often willing to wait--
They saw them and passed them up at the first listing/original price--and whatever their negatives are to buyers they still haven't cancelled them out by reducing the price point...
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Old 09-12-2018, 08:28 PM
 
Location: Dallas
989 posts, read 2,428,589 times
Reputation: 860
Quote:
Originally Posted by houstonview View Post
yes, the tax went up crazy from 2016-2017 in the whole DFW. My factors I believe caused this Houston's storm, relocation California buyers didn't consider Houston anymore, Toyota buyers having others panicking, and the strong job and stock market. However, DFW went up to a % fasters than most areas in th U.S so they have room to correct also.

People are still up a lot if they bought before 2017, time will tell what happens another run up could happen this summer or the opposite when inventory picks up.


https://www.zillow.com/homedetails/4...29233045_zpid/
price - $327K to $299k **pending**
2017 tax $317K


https://www.zillow.com/homedetails/4...29233045_zpid/
price - $399k to $350K
2017 tax $387K


https://www.zillow.com/homedetails/2...54039074_zpid/
price $315k to 285K
2017 tax $280k
What if you bought at the end of 2016?
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Old 09-13-2018, 05:57 AM
 
318 posts, read 335,388 times
Reputation: 242
Quote:
Originally Posted by loves2read View Post
Some houses have individual issues that make them less desireable
Many homes in my area of Tarrant country at one time had all beds up in 2story
Those homes now that they are 15-20 yrs old only sell if they are the ONLY ones on the market
People want a first floor master and often want two master suites because they have parents or grandparents living w/them---
Two masters are available in only certain locations because they usually require a larger first floor foundations/bigger lot size--

The fact that some houses are dropping their prices multiple times just means THOSE houses are not that desireable and people are often willing to wait--
They saw them and passed them up at the first listing/original price--and whatever their negatives are to buyers they still haven't cancelled them out by reducing the price point...
This was just a few examples, and actually I’m unsure what these homes actually sold for. They’re a lot of homes being dropped & still being sold eventually.

If someone was in the market right now you can actually try to find a decent deal and for sure not pay asking.
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Old 09-14-2018, 11:04 PM
 
7 posts, read 5,186 times
Reputation: 15
Here is an example of softening in the real estate market.

Sold for $385k but tax value is $424k for 2018 and $435k for 2017.
https://www.redfin.com/TX/Frisco/559.../home/87198352

DATE EVENT PRICE $/SQFT SOURCE
09/07/18 Listing removed $385,000 $147 Ebby Halliday ...
08/21/18 Pending sale $385,000 $147 Ebby Halliday ...
07/27/18 Price change $385,000-3.8% $147 Ebby Halliday ...
06/21/18 Price change $400,000-5.9% $153 Ebby Halliday,...
05/18/18 Price change $425,000-5.6% $163 Ebby Halliday,...
04/17/18 Listed for sale $450,000 $172 Ebby Halliday,...

https://www.zillow.com/homedetails/5...82375855_zpid/

https://www.dentoncad.com/home/detai...8266&year=2019

General Information
5595 LIGHTFOOT LN TX 75036
$424,000.00

Property Type
Real Property
Area
2,604ft2
Class
10B
Legal Description
PHILLIPS CREEK RANCH PHASE 4A BLK N LOT 6
Geographic ID
SF0393A-000000N-0000-0006-0000
Subdivision
PHILLIPS CREEK RANCH PHASE 4A - SF0393Asearch
Neighborhood
WINDROSE AT PHILLIPS CREEK - DC32109search
Taxing Jurisdictions
S06 (FRISCO ISD)
G01 (DENTON COUNTY)
C32 (FRISCO CITY OF)
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Old 09-15-2018, 12:21 AM
 
13,194 posts, read 28,107,679 times
Reputation: 13124
Quote:
Originally Posted by b0mbsquad View Post
Here is an example of softening in the real estate market.

Sold for $385k but tax value is $424k for 2018 and $435k for 2017.
https://www.redfin.com/TX/Frisco/559.../home/87198352

DATE EVENT PRICE $/SQFT SOURCE
09/07/18 Listing removed $385,000 $147 Ebby Halliday ...
08/21/18 Pending sale $385,000 $147 Ebby Halliday ...
07/27/18 Price change $385,000-3.8% $147 Ebby Halliday ...
06/21/18 Price change $400,000-5.9% $153 Ebby Halliday,...
05/18/18 Price change $425,000-5.6% $163 Ebby Halliday,...
04/17/18 Listed for sale $450,000 $172 Ebby Halliday,...

https://www.zillow.com/homedetails/5...82375855_zpid/

https://www.dentoncad.com/home/detai...8266&year=2019

General Information
5595 LIGHTFOOT LN TX 75036
$424,000.00

Property Type
Real Property
Area
2,604ft2
Class
10B
Legal Description
PHILLIPS CREEK RANCH PHASE 4A BLK N LOT 6
Geographic ID
SF0393A-000000N-0000-0006-0000
Subdivision
PHILLIPS CREEK RANCH PHASE 4A - SF0393Asearch
Neighborhood
WINDROSE AT PHILLIPS CREEK - DC32109search
Taxing Jurisdictions
S06 (FRISCO ISD)
G01 (DENTON COUNTY)
C32 (FRISCO CITY OF)
Is it, though?? Or is it just an example of why you don’t buy new construction and try to sell 2 years later in a neighborhood that is still being built out? And an example of why you don’t buy in a poor location (this house backs to a very busy road) especially if you aren’t going to buy and hold long enough to gain equity?
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Old 09-15-2018, 05:57 AM
 
318 posts, read 335,388 times
Reputation: 242
Quote:
Originally Posted by b0mbsquad View Post
Here is an example of softening in the real estate market.

Sold for $385k but tax value is $424k for 2018 and $435k for 2017.
https://www.redfin.com/TX/Frisco/559.../home/87198352

DATE EVENT PRICE $/SQFT SOURCE
09/07/18 Listing removed $385,000 $147 Ebby Halliday ...
08/21/18 Pending sale $385,000 $147 Ebby Halliday ...
07/27/18 Price change $385,000-3.8% $147 Ebby Halliday ...
06/21/18 Price change $400,000-5.9% $153 Ebby Halliday,...
05/18/18 Price change $425,000-5.6% $163 Ebby Halliday,...
04/17/18 Listed for sale $450,000 $172 Ebby Halliday,...

https://www.zillow.com/homedetails/5...82375855_zpid/

https://www.dentoncad.com/home/detai...8266&year=2019

General Information
5595 LIGHTFOOT LN TX 75036
$424,000.00

Property Type
Real Property
Area
2,604ft2
Class
10B
Legal Description
PHILLIPS CREEK RANCH PHASE 4A BLK N LOT 6
Geographic ID
SF0393A-000000N-0000-0006-0000
Subdivision
PHILLIPS CREEK RANCH PHASE 4A - SF0393Asearch
Neighborhood
WINDROSE AT PHILLIPS CREEK - DC32109search
Taxing Jurisdictions
S06 (FRISCO ISD)
G01 (DENTON COUNTY)
C32 (FRISCO CITY OF)
A agent here would have to pull the REAL sold price, Redfin sold price is not accurate at all. Could’ve sold for more or less FYI
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Old 09-15-2018, 06:13 AM
 
318 posts, read 335,388 times
Reputation: 242
In the last 30 days over 300 homes in Plano have price reductions, however know one knows which way the market will go

I’ve held that stance when I noted awhile back things were softening and people came getting upset after homes that were 200k are now 300k a few years later, assuming DFW could never see any type of pull back ever because of inflation
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Old 09-15-2018, 07:30 AM
 
Location: Castle Hills
1,172 posts, read 2,623,253 times
Reputation: 656
The market is for sure slowing down right now. I know a handful of agents and they are all saying that it is
getting tough out there.
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Old 09-15-2018, 01:36 PM
 
Location: Dallas
989 posts, read 2,428,589 times
Reputation: 860
Quote:
Originally Posted by ufcrules1 View Post
The market is for sure slowing down right now. I know a handful of agents and they are all saying that it is
getting tough out there.
I think so too.

That's what happens when the Fed raises interest rates - it makes homes more expensive so the prices have no choice but to stall. It's the same damn thing that happened with Greenspan in the 2000s. Kept pushing up the interest rate until things "broke" (yeah, I know there was a lot of other stuff happening then too, but still....).

The change in the standard deduction due to the tax law and capping of M&I deduction may also be dampening demand. There's less financial benefit to owning a home now.

Sounds to me like if you recently bought a home in Dallas then you may be screwed!

Hopefully prices just flatten out and don't go into full-blown reverse mode....

Silver lining....lower (or slower increasing) property taxes....?
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Old 09-15-2018, 03:44 PM
 
19,494 posts, read 17,729,533 times
Reputation: 17028
Quote:
Originally Posted by b0mbsquad View Post
Here is an example of softening in the real estate market.

Sold for $385k but tax value is $424k for 2018 and $435k for 2017.
https://www.redfin.com/TX/Frisco/559.../home/87198352

DATE EVENT PRICE $/SQFT SOURCE
09/07/18 Listing removed $385,000 $147 Ebby Halliday ...
08/21/18 Pending sale $385,000 $147 Ebby Halliday ...
07/27/18 Price change $385,000-3.8% $147 Ebby Halliday ...
06/21/18 Price change $400,000-5.9% $153 Ebby Halliday,...
05/18/18 Price change $425,000-5.6% $163 Ebby Halliday,...
04/17/18 Listed for sale $450,000 $172 Ebby Halliday,...

https://www.zillow.com/homedetails/5...82375855_zpid/

https://www.dentoncad.com/home/detai...8266&year=2019

General Information
5595 LIGHTFOOT LN TX 75036
$424,000.00

Property Type
Real Property
Area
2,604ft2
Class
10B
Legal Description
PHILLIPS CREEK RANCH PHASE 4A BLK N LOT 6
Geographic ID
SF0393A-000000N-0000-0006-0000
Subdivision
PHILLIPS CREEK RANCH PHASE 4A - SF0393Asearch
Neighborhood
WINDROSE AT PHILLIPS CREEK - DC32109search
Taxing Jurisdictions
S06 (FRISCO ISD)
G01 (DENTON COUNTY)
C32 (FRISCO CITY OF)

Negative.
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