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Old 06-04-2009, 09:06 AM
 
27,558 posts, read 45,018,330 times
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agree that Keller (15 or 20 yrs ago) was where people went when they wanted to be in rural area and have more privacy--not like master planned communities--I remember when Keller was considered in the hinderlands of NE Tarrant county...and back then it was--

and ms daisy--even if people would move into your area--they might not qualify for your price at higher rates...laws of mathematics that were ignored in the past 5 or so years...
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Old 06-04-2009, 11:48 AM
 
Location: Bella Vista, Ark
69,366 posts, read 79,558,446 times
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Quote:
Originally Posted by loves2read View Post
agree that Keller (15 or 20 yrs ago) was where people went when they wanted to be in rural area and have more privacy--not like master planned communities--I remember when Keller was considered in the hinderlands of NE Tarrant county...and back then it was--

and ms daisy--even if people would move into your area--they might not qualify for your price at higher rates...laws of mathematics that were ignored in the past 5 or so years...
It was exactly 20 years ago. I am sometimes sorry we did not jump at the chance. But, life is filled with uncertainties. At least we ended up near our kids and grandkids, that was a huge plus.

Nita
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Old 06-04-2009, 09:11 PM
 
424 posts, read 1,632,516 times
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I heard today interst rates are up to 5.7%. That is quite a jump from only a week or so ago. They were at 4.5% last week. Most houses that are selling right now according to the real estate reports I heard were first time home buyers.

If you do not have a 'starter' home or something in a middle price range, you may notice a bit of a slow down...just my opinion from what I have heard today.

Good luck. Not a good market to have to sell.
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Old 06-04-2009, 09:37 PM
 
Location: Cincy
252 posts, read 860,608 times
Reputation: 104
Quote:
Originally Posted by catluvr View Post
I heard today interst rates are up to 5.7%. That is quite a jump from only a week or so ago. They were at 4.5% last week. Most houses that are selling right now according to the real estate reports I heard were first time home buyers.

If you do not have a 'starter' home or something in a middle price range, you may notice a bit of a slow down...just my opinion from what I have heard today.

Good luck. Not a good market to have to sell.
Wow thats a big jump
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Old 06-05-2009, 10:43 AM
 
Location: The Big D
14,874 posts, read 36,274,771 times
Reputation: 5787
Just thought I'd pass this story along. It was reported on Ch. 8 WFAA and The Dallas Morning News. A woman with a house for sale in Castle Hills (Lewisville but right near the border of Carrollton) has had her house on the market for OVER A YEAR!!! The house is listed at close to $2MILLION and she is now offering a NEW MERCEDES to try and sell the house. I'm sure the house is updated and all at that price tag and she is still having a hard time selling. She is spending $60K to buy the car to throw into the deal in order to just sell the house and is willing to take a hit on losing by even selling. From the article: "The house was Henger's dream home. She never got the chance to move in because the house she lives in right now, just a few blocks away, hasn't sold either."


Lewisville seller throws in Mercedes with $2 million house | Texas Cable News | TXCN.com | News for Texas | Local News: TV (http://www.txcn.com/sharedcontent/dws/news/localnews/tv/stories/wfaa090604_ac_houseandcar.4959a115.html - broken link)
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Old 06-05-2009, 10:45 AM
 
Location: The Big D
14,874 posts, read 36,274,771 times
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Quote:
Originally Posted by catluvr View Post
I heard today interst rates are up to 5.7%. That is quite a jump from only a week or so ago. They were at 4.5% last week. .
We were hoping they would stay low for a bit longer. Maybe they will come back down by the time we are ready to roll our construction loan in w/ our mortgage. What are 10 & 15 year loans at? I'm not too worried about my home loan as it is at 4.3% for 10 years. I'd just like to get the construction loan lower or all into one payment.
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Old 06-05-2009, 11:02 AM
 
1,098 posts, read 3,853,387 times
Reputation: 1902
Quote:
Originally Posted by momof2dfw View Post
Just thought I'd pass this story along. It was reported on Ch. 8 WFAA and The Dallas Morning News. A woman with a house for sale in Castle Hills (Lewisville but right near the border of Carrollton) has had her house on the market for OVER A YEAR!!! The house is listed at close to $2MILLION and she is now offering a NEW MERCEDES to try and sell the house. I'm sure the house is updated and all at that price tag and she is still having a hard time selling. She is spending $60K to buy the car to throw into the deal in order to just sell the house and is willing to take a hit on losing by even selling. From the article: "The house was Henger's dream home. She never got the chance to move in because the house she lives in right now, just a few blocks away, hasn't sold either."


Lewisville seller throws in Mercedes with $2 million house | Texas Cable News | TXCN.com | News for Texas | Local News: TV (http://www.txcn.com/sharedcontent/dws/news/localnews/tv/stories/wfaa090604_ac_houseandcar.4959a115.html - broken link)
You forgot the most important part:
Quote:
UPDATE - On Thursday, Hanger got an offer and the contract is being worked on.
I know a couple of people who have built houses in the Enchanted Hills section as an upgrade from their previous homes in CH. One of the great things about CH is people want to stay there and there is a broad enough range of housing prices to allow an upgrade path. The biggest obstacle right now for housing in that price range is securing financing - the money for jumbo loans is either unavailable or the rates are unfavorable.
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Old 06-05-2009, 12:33 PM
 
Location: The Big D
14,874 posts, read 36,274,771 times
Reputation: 5787
Quote:
Originally Posted by TriumphOfTheSprint View Post
I know a couple of people who have built houses in the Enchanted Hills section as an upgrade from their previous homes in CH. One of the great things about CH is people want to stay there and there is a broad enough range of housing prices to allow an upgrade path. The biggest obstacle right now for housing in that price range is securing financing - the money for jumbo loans is either unavailable or the rates are unfavorable.
I'd be curious to know how much a part of the new MB going w/ the purchase made someone want to buy it?

The interest rates for the jumbo loans are going to kill this market. They finally raised the amount that falls below the jumbo but still. If someone has the money to buy these houses they need to let that market keep moving as well. BIG difference between these buyers and those doing the interest only no money down loans for the big mortgages.
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Old 06-05-2009, 01:00 PM
 
37 posts, read 122,423 times
Reputation: 28
It's a great media stunt, but does anyone think that free car would really influence a legitimate buyer? I would think that the intelligent buyer would leverage the $60k car 'value' against their best deal and leave the car (which is probably only worth $50k by now) with the seller.

I guess if the 7 year loan from Mercedes-Benz Financial wont get your car payments right, consolidating it into a 30 year mortgage might. That's the American way right? ... Or the North Dallas way? ... Or the US Government way? Ha!
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Old 06-05-2009, 01:14 PM
 
Location: Brentwood, Austin, TX
156 posts, read 278,102 times
Reputation: 53
To the original poster: I live in far north Carrollton and watch the real estate trend pretty closely. It seems that homes in this area do sell well if they have good curb appeal (no backing up to major streets, land fills, etc), and are updated and/or well maintained.

Have you thought about how your listing price may affect how potential buyers are searching? For example, if your house is listed at $205,000, you're excluding buyers who are limiting their search at 200K (common cutoff) when they use the internet search tools. Same thing applies for 230K versus 225K, etc.

Also, pricing your house $5/SF higher than comps is a significant increase in this area, where a house in pristine condition with all the updates can maybe usher in $100/SF. Something to think about... buyers might think you're the type who's too in love with his/her own house to sell for lower.
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