The Dallas Metro Area...Number 3 in The Country for Growing Home Prices (Spring: 2015)

[CREW747]

Dallas-area home prices grow at almost twice the national average.The Dallas metro area is the number 3 market in the country for increases right now...

Dallas-area home prices grow at almost twice the national average | Dallas Morning News

It is an exciting time to own a house in this area...and also kind of frightening!

[unknown00]

wow SF really that high? geez and it's already so expensive there...go tech!

[BigDGeek]

Originally Posted by CREW747

It is an exciting time to own a house in this area...and also kind of frightening!

Only exciting if you plan to sell soon and leave the area!

[prasen]

I feel the prices are softening a bit now.. at least the plano area see a lot of homes reducing their prices by 10-15k . not sure if it is localized or to a specific community but the number of prompts for price reductions have increased..

[TurtleCreek80]

Originally Posted by prasen

I feel the prices are softening a bit now.. at least the plano area see a lot of homes reducing their prices by 10-15k . not sure if it is localized or to a specific community but the number of prompts for price reductions have increased..

It's the dead middle of summer and 100 degrees outside. If a house didn't sell in the Spring market, now is the time of year it's normal to see price reductions, even in a strong market.

[unknown00]

Originally Posted by TurtleCreek80

It's the dead middle of summer and 100 degrees outside. If a house didn't sell in the Spring market, now is the time of year it's normal to see price reductions, even in a strong market.

Partially disagree, summer is usually the popular time for when people move/relocate due to examples such of school being off. However, I didn't notice an exponentially increase in business this summer

[prasen]

one thing i figured out was inventory is also extremely low. you get to see 1 or 2 properties a week which pique your interest and budget . feel like something will give in..

if interest rates increase it could hit it even harder. maybe next year it will start increasing to coincide with the influx of toyota folks.

[txfriend]

I guess that’s good. Since I bought this house in 83 for $250K, plus a major remodel 15 years ago, and needing another facelift in the near future. I will almost break even.

Of course, I would not be able to sell it with the two 33-year-old AC units that work perfectly and are fairly efficient, and the 11-year-old 50-year roof. I did replace the two 32-year-old water heaters last year that never had a leak. Therefore, the $400K value today would just about be a break-even point.

I did not include the $24K for 2 pool remodels and $11K last month for removing all the old landscaping, building new front walkway and stone landscape borders plus updating the sprinkler system.

I have no idea what the true value is, I am not selling. In our neighborhood, the prices are between $350K and $500K. Even with the current pricing, the investment is in par with value at this price range. I owned low cost starter houses that doubled or even tripled in value.