Is there housing bubble in Dallas? (Arlington, Plano: insurance, home, construction)

[Threestep2]

Originally Posted by nylady123

Thanks all for your replies. I am looking for 4/5 bed house in gated communities with all amenities like pool, park, clubhouse etc and area around 4000 sq ft. I checked old existing homes in west plano but they are selling very quickly. Therefore I focused on new construction like Richwoods etc. Is this price right for new home? Will prices go down in near future?

You are paying for the amenities. In my area there is hardly ever something for sale. It is all sold construction and at 450-550 without anything but a new elementary school and a high school under construction. Nobody can predict a real estate market:>)

[nylady123]

Thank you all for your replies. I never lived in Texas so not aware of market there. I am looking in good school district like vendervelt middle school and curtsinger elementary school. House is in Richwoods, all amenities like pool, clubhouse, parks, 4 bed, 3 bath, 3 car garage, 4000 sq ft, brand new construction from JohnRLandon. Is price worth for all this?

[MurphyPl1]

Originally Posted by TurtleCreek80

Yes!! This is Texas' huge selling point-> the individual can choose his own tax burden vs living in say nyc where 10% in state & city mandatory taxes come off every paycheck.

and you have far easier access to decision makers when you're paying it to city, ISD or county. Our former County Commissioner lives in the next neighborhood, I've got his replacement's personal email, one ISD trustee lives in my neighborhood and her hubby takes care of my pets, another frequents my store and the restaurant next door, and well, we're a small enough town that if you don't know at least one Councilmember it's not because they aren't around.

When PISD had the tax increase on the ballot last year, there was great discussion about it, and conversations with those reps.

[MurphyPl1]

Originally Posted by nylady123

Thank you all for your replies. I never lived in Texas so not aware of market there. I am looking in good school district like vendervelt middle school and curtsinger elementary school. House is in Richwoods, all amenities like pool, clubhouse, parks, 4 bed, 3 bath, 3 car garage, 4000 sq ft, brand new construction from JohnRLandon. Is price worth for all this?

You're gonna pay $500K for a house in Frisco so you can have a gate to keep the poor people out?

[GreyDay]

Originally Posted by MurphyPl1

You're gonna pay $500K for a house in Frisco so you can have a gate to keep the poor people out?

I'm always wary of gated communities. Seems like you're trying way too hard.

[Rakin]

Originally Posted by txfriend

However, your Texas property tax can and will increase up to 10% annually. This has happened to me two consecutive years. California, 1% max.

Love Californians. Yes the over all rate of PT is lower but home prices usually run 2-4 times what ours run.

I'll still take our overall tax rate verses a east or west coast rate.

[nylady123]

Originally Posted by MurphyPl1

You're gonna pay $500K for a house in Frisco so you can have a gate to keep the poor people out?

I am not rich. Would you suggest me any other community with good schools, good neighborhood and accessible from highways, airport, groceries, mall like this which will also have resale value in future? I don't mind non-gated community. Please suggest.

[TurtleCreek80]

Originally Posted by nylady123

I am not rich. Would you suggest me any other community with good schools, good neighborhood and accessible from highways, airport, groceries, mall like this which will also have resale value in future? I don't mind non-gated community. Please suggest.

Pick any home zoned to Plano ISD, Flower Mound schools in LISD, Coppell ISD, or grapevine-Colleyville ISD and you'll be just fine. Meets your criteria and have long-term strong housing markets due to great locations and great schools.

You certainly don't NEED to pay $500k for a gated subdivision in Frisco...even if the house is worth asking price.

[dah328]

Originally Posted by TheOverdog

If this theoretical person's taxes have increased so non-proportionally with their income, then they can sell out and take their huge tax-free capital gain and move somewhere else. The idea that being 'first' gives you an endless right to live in an area that has been improving without shouldering a fair portion of the costs needs to die in a capitalist society.

Costs don't increase at the same rate as real estate appraisals. That's one of the more insidious aspects of property taxes.

[GreyDay]

Originally Posted by dah328

Costs don't increase at the same rate as real estate appraisals. That's one of the more insidious aspects of property taxes.

DCAD uses recent sales data. They're not usually particularly impressed by appraisals.