Is inventory lower than expected right now? (Flower Mound, Grapevine: loan, new house)

[stephwin]

Originally Posted by vansgirl

OP, here--back to the original point of my post... there's only been about 10 new listings (in my price range) in the last 2 weeks in BOTH Coppell and Grapevine. Yikes! Slim pickings. Where's all the new inventory?

Note: My price range/criteria isn't abnormal: $375k max; 3 bd/2 bath

**Edited to add that there's currently only 10 non-pending listings...

This is my completely uneducated guess as I'm not a realtor, but it still seems early to me. Say someone lists their house this weekend, most hot areas will have offers on the house within days and the seller will probably agree to an offer equally as fast. And even if closing takes 45 days, that still puts the house being sold by mid-May, when school is still going on. I'm not sure most parents would want to be packing up their house and moving out just prior to school ending.

Of course they could always lease the house back or push for a longer closing, but they would still be scrambling those last few weeks of May to get everything settled before moving out after school ends. If I knew I was listing my house and would be moving out after the school year, I'd probably list in early to mid-May.

[jermandaim]

Last week we put an offer on a home in Euless listed at $155,000. Found out today that it had 25 total offers and sold for $168,500. 1400sq ft built in the 50s with bad A/C. If our offer went through, the closing date would have been May 10 which is still before school is out for most districts I imagine.

I'm not seeing a bunch of new inventory. I would guess sellers are afraid they can't find another home to move to if they plan on staying in the area.

[vansgirl]

Originally Posted by stephwin

This is my completely uneducated guess as I'm not a realtor, but it still seems early to me. Say someone lists their house this weekend, most hot areas will have offers on the house within days and the seller will probably agree to an offer equally as fast. And even if closing takes 45 days, that still puts the house being sold by mid-May, when school is still going on. I'm not sure most parents would want to be packing up their house and moving out just prior to school ending.

Of course they could always lease the house back or push for a longer closing, but they would still be scrambling those last few weeks of May to get everything settled before moving out after school ends. If I knew I was listing my house and would be moving out after the school year, I'd probably list in early to mid-May.

That's actually preferable to us bc we cannot close until after Memorial Day weekend.

Edit: we cannot close on selling our house until then

[BongoBungo]

Originally Posted by valueguy75

if the present real estate market in DFW is not a bubble then what do you call a bubble. A decent home in Plano, Frisco or Prosper area is listed at $400+. This is Dallas, not New York or San Francisco. We haven't learned anything from 2008.

You can still get plenty of modest sized houses under 2,000 squarefeet for under $300k in the northern suburbs. And if you don't want to play the bidding war you can get new construction too. There's lots of options for affordable new construction homes along 380 right now.

[Ultrarunner]

Originally Posted by richard88

I've been thinking....if Dallas were to be hit hard even with all big companies like Toyota, Liberty etc here, what will other places like west coast and east coast be like ? I remember back in 2009, people in the Bayarea are miserable and queueing up for jobs. The employers low ball their paid because people are stucked there, would cost more to relocate among other reasons. I can't imagine how to survive with monthly rent minimum of $3k of 2 bedrooms there then.

It was said Toyota would never walk away from the NUMI plant in California... we all know production went to Texas and Canada... now the plant builds Tesla.

Given time anything is possible.

[mSooner]

It does seem like very very little is available here in Coppell--even less so than usual. I keep an eye on what is in our neighborhood and what it is selling for and there has been NOTHING for a few months now

[vansgirl]

Originally Posted by mSooner

It does seem like very very little is available here in Coppell--even less so than usual. I keep an eye on what is in our neighborhood and what it is selling for and there has been NOTHING for a few months now

Yep. I am, however, seeing more and more Coppell houses pop up just north of 121

[J.Thomas]

Yes it's low.

Total sellers market.

Good luck.

[mSooner]

Yep. I am, however, seeing more and more Coppell houses pop up just north of 121

Most (or all) aren't zoned to Coppell ISD so be aware

[sunnysky]

I just purchased in Coppell in the under $300k price range, zoned to Coppell ISD. Took over a year of looking & I think around 6 failed offers (not much inventory & I was selective about my desires for a home). My target areas were Valley Ranch, Coppell & Grapevine. I actually lost out on the property I got at first, but the seller came back a week later because their first buyer couldn't get financing together. I paid $15k over list and waived the appraisal contingency. Luckily, the home appraised for the purchase price.