Showings dropping off in 2nd/3rd week. How can I improve showings in this market? (Dallas: short sales, rental)

[Rakin]

Owning a house in TX is not a get rich deal like CA, it is a long term place to live and realistically you seldon get out of it all the money. Considering taxes, upkeep, maintenance, interest a home is a money pit.

But ... it's also a home you can raise your kids, plant a garden, swim in a pool, get to know your neighbors and some point in the future sell to recover some of your expenses.

Is it a fantastic investment, No. Is it a home, Yes.

Our market here stays steady and strong, usually increases 2-5% a year. But if you want an affordable place to live, you can't beat Texas.

Now if all the people from CA & Florida keep moving here we may see some major price increases in the next few years.

I was showing homes today in Flower Mound & Coppell. Prices have gone up in the last few months and finding a really nice home is getting harder.

[DWong]

Originally Posted by Rakin

Owning a house in TX is not a get rich deal like CA, it is a long term place to live and realistically you seldon get out of it all the money. Considering taxes, upkeep, maintenance, interest a home is a money pit.

yes you're right about that.
But ... it's also a home you can raise your kids, plant a garden, swim in a pool, get to know your neighbors and some point in the future sell to recover some of your expenses.


Is it a fantastic investment, No. Is it a home, Yes.

Our market here stays steady and strong, usually increases 2-5% a year. But if you want an affordable place to live, you can't beat Texas.

very very true.

Now if all the people from CA & Florida keep moving here we may see some major price increases in the next few years.
[b]Now I truly wonder about that. We have been going there in droves. Well the whole country has. Look at population trends in the past 25 years... The north part of US and midwest have stayed the same... people are going somewhere and that somwhere is TX, FL, NV, and AZ. The prices have barely ever moved up past inflation rates. And w/ all the land - there is definitely no shortage. Investors moving out there to buy, you're not gonna turn a quick buck, put it elsewhere, futhermore....allow hard working people, Texans who want to buy a place, buy one. They already priced out alot of people here in CA so no need to do that else where either. Anyways, there won't be any major price increases there - any economist will tell you the same. Supply and Demand...

I was showing homes today in Flower Mound & Coppell. Prices have gone up in the last few months and finding a really nice home is getting harder.

A few places don't necessarily mean the whole big state of TX, or even Dallas. Prices going up... in reality... how much... 5% 10% a year.. maybe more? No one would consider that a big increase... that would be a house going from 200k to 240 in 2 years... and to 300k in 5 (actually a little more) has that happened?

[KantLockeMeIn]

Originally Posted by momof2dfw

So you see it as an advantage to uproot your kids, change their schools, move them from house/apartment to another place to live???? No thanks. There is MUCH to be said about stability. You do know it costs money for every move, right? What a waste of money.

Meanwhile, I'll be sitting nice and MORTGAGE FREE at the ripe old age of 50! I won't have to worry about the real estate market as I won't be in the market to sell. I won't have RENT or a mortgage payment to make. WOO-HOO!!!

Exactly... there is a psychological side to every financial decision that doesn't get accounted for in equations.

Thanks to the affordable market here, and over inflated prices back on the east coast, I'll be sitting mortgage free by the age of 32.

[KantLockeMeIn]

Originally Posted by Rakin

Is it a fantastic investment, No. Is it a home, Yes.

The beautiful thing about the metro area in general is that I can own a home outright, have plenty of space for the kids and nice extras like a home theater, and have a large number of employment options that pay almost as well as where I lived in the mid-atlantic region.

So with the difference I can invest in mutual funds and actually see my investments grow. I can also cash out my investments without having to uproot my family.

[caligurltotx]

Rakin you may be on to something cause I am seeing something weird going on in this Buyers market! Has any other Agents been dealing with competing mutiple offers? I know an Agent friend has written 14 offers for her buyers. What we have figured out is the price range they are falling into is becoming very competitive. Just wondering if this is happening anywhere in the Dallas area, it could just be an isolated Cali thing???

[Plano_Pal]

Originally Posted by caligurltotx

Rakin you may be on to something cause I am seeing something weird going on in this Buyers market! Has any other Agents been dealing with competing mutiple offers? I know an Agent friend has written 14 offers for her buyers. What we have figured out is the price range they are falling into is becoming very competitive. Just wondering if this is happening anywhere in the Dallas area, it could just be an isolated Cali thing???

Well, I am not an agent but a seller. I have rejected 3rd offer today. It was ~5-6K less than where I will sell. Buyer was 'sticking' SO hard with the comps (when market conditions are changing VERY quickly)..... With all the upgrades in our home, it was just not worth selling at the price that buyer was offering.

[caligurltotx]

Plano pal I am just wondering why you and the buyers can't meet somewhere in the middle. That is a small amount that should be negotiable. Now I know how passionate sellers are about their properties and I know every seller feels their home is the best on the block. Now I am just playing devil's advocate here. I'm just thinking if you really want to sell the house are you willing to budge a little bit? I know how buyers are too? Lord knows I know! But I never had a deal fall out with only $5000 difference between both parties.

[Plano_Pal]

Originally Posted by caligurltotx

Plano pal I am just wondering why you and the buyers can't meet somewhere in the middle. That is a small amount that should be negotiable. Now I know how passionate sellers are about their properties and I know every seller feels their home is the best on the block. Now I am just playing devil's advocate here. I'm just thinking if you really want to sell the house are you willing to budge a little bit? I know how buyers are too? Lord knows I know! But I never had a deal fall out with only $5000 difference between both parties.

Cali, thanks for your opinion. We are in the market with all good intentions to sell and will sell for the price that we think is fair and comps suggested. Initial difference was quite large (20-30K) and both of us narrowed it down to ~6K but both parties exhausted their wallets (or perhaps, buyer was testing the water). So, buyer made a final final offer that we could not accept (Microsoft vs. Yahoo)...

Of course, we did not feel good about this and wish if both of us could come to an agreement.....

Yesterday, another buyer completed their second showing and their agent called ours to say 'good' things about our house.Hopefully, this will be our last showing. These showings are NO fun and painful when buyers/agent don't show up....

Looking back, Very first offer that was in within 24 hours of property listed was OK to begin with (just as someone suggested that 8% below asking price is not a bad starting point) but they wanted to sell their house before their loan will be approved for next home. We just did not like that.

[Plano_Pal]

Should we expect next weekend to be quite or people do look for homes on the memorial day weekend?

[Rakin]

It's usually a quiet weekend, especially Sunday & Monday. Even us agents will take it down a notch and enjoy a few days.