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04-10-2007, 09:06 PM
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Senior Member
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Join Date: Jan 2007
195 posts, read 231,644 times
Reputation: 46
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Dallas, Texas Real Estate Market
I live in the New York area and have seen house prices fall or "adjust". Does anyone know how things are going in Dallas Texas? I had plans to buy some property there.
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04-12-2007, 07:48 AM
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Real Estate Agent
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Join Date: Mar 2007
Location: Collin County
71 posts, read 103,297 times
Reputation: 28
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In Texas we never experienced a price inflation "bubble". Therefore we are not experiencing an adjustment period. Just modest appreciation depending on location.
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04-12-2007, 08:55 AM
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Real Housewife of Dallas
Status:
"Enjoying the Awesome Dallas Fall weather :)"
(set 21 days ago)
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Join Date: Jun 2006
Location: The Big D
11,421 posts, read 11,133,615 times
Reputation: 3292
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Quote:
Originally Posted by TXprincess
In Texas we never experienced a price inflation "bubble". Therefore we are not experiencing an adjustment period. Just modest appreciation depending on location.
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True. The only areas in the Dallas metroplex that have encountered a "cooling off" or a turndown in the real estate market were areas that were too heavily developed and hit w/ tons of investors and foreclosures. Most of those places tend to be in the lower price range markets of new homes in the not so good parts of town (and some of these do exist in the northern suburbs of Frisco and McKinney, not just in the southern sector of Dallas). If your looking for a new or newly built home in for under $150K then I'd pay VERY close attention to the neighborhood and the area. If that is your price range you are much better off looking in older more established neighborhoods that were built and developed before everyone thought that "Texas is cheap" and wanted to buy entire blocks of houses for rental investments. If your looking in the higher price ranges then in some areas you will have to be quick on your toes if it is a highly sought after area that does not see a large turnover.
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04-12-2007, 09:11 AM
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San Diego/Dallas/SF Bay
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Join Date: Aug 2006
2,739 posts, read 3,723,112 times
Reputation: 430
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Excellent advice. Sub 200k, I'd recommend something older. If you can go to 300k, you'll probably be safe in the Northern burbs. In between those numbers, you really need to look at it on a case by case basis.
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04-12-2007, 04:37 PM
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Senior Member
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Join Date: Apr 2007
9,542 posts, read 6,957,899 times
Reputation: 2042
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My area has been averaging 10 - 17% appreciation per year. It's slowed a bit, but we'll have to see what happens with the spring/early summer market.
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04-13-2007, 08:13 AM
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San Diego/Dallas/SF Bay
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Join Date: Aug 2006
2,739 posts, read 3,723,112 times
Reputation: 430
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That was another area that Big D mapped into the 10%+ range as well.
I wish someone would scan that map and post it here.
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04-13-2007, 08:45 AM
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Senior Member
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Join Date: Aug 2006
Location: Plano, TX
1,494 posts, read 1,870,315 times
Reputation: 258
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My only caution would be in the areas with the highest foreclosure rates. You may see a softening of the market in those areas.
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04-13-2007, 05:59 PM
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San Diego/Dallas/SF Bay
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Join Date: Aug 2006
2,739 posts, read 3,723,112 times
Reputation: 430
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Foreclosures are generally more prevelant in homes under 200k. If your buying in this price range, I tend to think older more established areas are a much safer play. If you can go into the 300s, then the northern burbs are going to be good for resale.
Completely different buyer.
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04-23-2007, 08:54 PM
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Senior Member
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Join Date: Apr 2007
9,542 posts, read 6,957,899 times
Reputation: 2042
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04-23-2007, 08:57 PM
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Keep Calm and Carry On
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Join Date: Nov 2006
Location: la hacienda
1,588 posts, read 2,137,737 times
Reputation: 400
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We're finding a couple of foreclosures in Starwood and a bunch of relo's there as well.
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