Yet another "Where should I buy a house" ? (Dallas: condo, loan)

[Leonard123]

Originally Posted by Rakin

It pretty much is everywhere the OP describes / mentions he wants to live. Unless he wants to go somewhere far south out of town or maybe Forney.

McKinney has tons of inventory, and it's dirt cheap. There are actually quite a few price drops, and home are not selling over list. That's obviously not a viable option for the OP, but neither is Forney. However, I find it hard to fathom that it's an exception. I see no reason why it should be some unusually repulsive ghetto to so many people.

[UP 270]

Thanks for all the good info folks.

For everyone who missed the original post and is asking for my budget: ~$400,000.

Also, I forgot to mention I currently live in an apartment in Arlington, TX. I just got to the DFW 2 weeks ago from the DMV(DC, Maryland, Virginia). I thought it would be a good idea to be centrally located between Ft. Worth and Dallas while I get oriented to the DFW.

Yeah, I've been doing some looking and realize I'm probably going to have to buy a ways out to get a descent house. I'm strongly considering new construction to avoid the bidding war crap. FWIW, I qualify for the VA home loan. I also have a 20% service connected disability so no PMI nor funding fees.

I saw someone mention the Roanoke area. I saw many new construction options that way during one of my Google searches. What are your thoughts on that area? I should be able to find something I like without going all the way to southern Oklahoma right?

Again, it's only me. Just need a roof, house value appreciation, proximity to the gym, and an abundance of single ladies. It really shouldn't be that hard to find. It's America for Christ's sake.

[Leonard123]

Originally Posted by UP 270

Thanks for all the good info folks.

For everyone who missed the original post and is asking for my budget: ~$400,000.

Also, I forgot to mention I currently live in an apartment in Arlington, TX. I just got to the DFW 2 weeks ago from the DMV(DC, Maryland, Virginia). I thought it would be a good idea to be centrally located between Ft. Worth and Dallas while I get oriented to the DFW.

Yeah, I've been doing some looking and realize I'm probably going to have to buy a ways out to get a descent house. I'm strongly considering new construction to avoid the bidding war crap. FWIW, I qualify for the VA home loan. I also have a 20% service connected disability so no PMI nor funding fees.

I saw someone mention the Roanoke area. I saw many new construction options that way during one of my Google searches. What are your thoughts on that area? I should be able to find something I like without going all the way to southern Oklahoma right?

Again, it's only me. Just need a roof, house value appreciation, proximity to the gym, and an abundance of single ladies. It really shouldn't be that hard to find. It's America for Christ's sake.

You will not avoid a bidding war on new construction, and your task will be even harder. Most builders are now only selling limited releases of inventory to the highest bidder. Others are on a sales freeze with wait lists that are months if not years out. That's a difficult price point unless you want a townhome, and those typically don't see the same kind of appreciation.

[Lorne]

Originally Posted by Leonard123

You will not avoid a bidding war on new construction, and your task will be even harder. Most builders are now only selling limited releases of inventory to the highest bidder. Others are on a sales freeze with wait lists that are months if not years out. That's a difficult price point unless you want a townhome, and those typically don't see the same kind of appreciation.

I purchased a townhome back in March 2021 for 380k. They are now listing the exact model but a new lot for 450k.

[TurtleCreek80]

Originally Posted by UP 270

Thanks for all the good info folks.

For everyone who missed the original post and is asking for my budget: ~$400,000.

Also, I forgot to mention I currently live in an apartment in Arlington, TX. I just got to the DFW 2 weeks ago from the DMV(DC, Maryland, Virginia). I thought it would be a good idea to be centrally located between Ft. Worth and Dallas while I get oriented to the DFW.

Yeah, I've been doing some looking and realize I'm probably going to have to buy a ways out to get a descent house. I'm strongly considering new construction to avoid the bidding war crap. FWIW, I qualify for the VA home loan. I also have a 20% service connected disability so no PMI nor funding fees.

I saw someone mention the Roanoke area. I saw many new construction options that way during one of my Google searches. What are your thoughts on that area? I should be able to find something I like without going all the way to southern Oklahoma right?

Again, it's only me. Just need a roof, house value appreciation, proximity to the gym, and an abundance of single ladies. It really shouldn't be that hard to find. It's America for Christ's sake.

Just food for thought:

1. New construction will not save you from bidding wars. Builders are taking bids from interested buyers and they are also ripping up contracts and charging significantly more than the original contract price - due to their increased costs and construction delays and well, because they can.

2. Yes, it really IS that hard. There is a housing shortage across the country right now and the pandemic has made everything worse as construction supplies are significantly delayed, labor is sick, etc. The DFW area has about 1 month of inventory right now - that means on average, every single house that went on the market today will be sold and closed within 4 weeks. . “Healthy” balanced market is 6 months supply. This is why it is that hard.

3. Having been one myself, you will not find an abundance of single women in areas that are primarily single family housing. Two, most women you meet would like to buy a home WITH their husband, not live in whatever thing he picked out right before they met because he was panicking about building wealth.

[widespreadfan]

The Mid-Cities like Hurst, Euless, or Bedford would put you in the middle. Commute time would be way less and you can get a lot for your money.

[ChristieP]

I agree: Hurst, Euless, Bedford, possibly northwest Irving, and possibly parts of Grapevine. You’ll have an easy commute without the need for a toll road.

For that price range, you’ll need to look at houses with a list price of $350k and be prepared to make an over list price offer, waive inspections, and waive appraisals. Give up the “walking distance to the gym” requirement.

It’s a pity you weren’t looking in May when we sold our house in Grapevine. It was almost exactly what you’re looking for.

New construction in your price range is going to mean a horrible commute. Don’t do it. Look at existing homes.

[WorldKlas]

I agree on mid=cities.

[UP 270]

How come no one is suggesting anything south of Arlington? Everyone pretty much is promoting points north. How about Cravens Park, Lynn Creek Park, and surrounding areas south of the 20. Forgive my ignorance if the answer to this question is glaringly obvious.

Also, why is no one saying wait a year for the market to improve for buyers.

As a matter of principle, I'm not going to be one of those people paying over the house's value. I'm determined to pay nothing out of pocket; I'm all about the 0 down VA home loan. Yet another reason I'm thinking new construction is my only choice. I'm willing to have a longer commute; I'm not willing to be a sucker.

[ChristieP]

Then you’re probably not going to get a house in this market.

Our experience as sellers:
We listed our Grapevine house at 7PM on Thursday, and started showing at noon on Friday. Over the next 54 hours, our house had 37 showings, and a 2-hour open house that had about 25 more people attend. We stopped showings at 6PM on Sunday, and we had 12 “best and final” offers in hand by Monday at 5PM. The one we chose waived appraisal, option period, and inspections, paid title policy, offered $25k over asking price, and gave us 30 days to vacate after closing. There were several others close behind it that didn’t waive things, offered a lower sale price, etc. Many wrote letters to us practically begging us to let them buy our house.

The parts of South Grand Prairie you mention are Ok. You may be able to find a good house there.