changed my mind...now i want to buy a home! (Dallas: for sale, new home)

[DPatel304]

I, too, think it's wiser to just rent for a year, and get a feel for the area before buying. DFW is massive and, you're right about Toyota moving here and the Facebook data center, but, because DFW is so big and sprawled out, that may not necessarily have that much of an impact on where you are looking to live.

If you rent for a year, you'll be much more knowledgeable on the metroplex and find something you love. Worst case scenario is that housing prices go up another 8-10%, which isn't THAT big of a deal in the grand scheme of things.

I think the time to buy was 3-5 years ago. I'm not saying prices couldn't continue to rise, but seeing as how we've had record breaking numbers the past few years, I'm a little doubtful this trend will continue for very long.

[Rakin]

Originally Posted by JJ09990

I'm glad you're not my Agent then. Geez. Way to have the "Can't be done" attitude! 315k for 2300 sq ft isn't hard to find! I'm a buyer. I have "portal access". There are many areas to choose from. Not all "new construction". Not all "short commute". But it's possible if she prioritizes her must haves.

Most people have a specific area (s) they need to be and can't be all over the area. I (and other agents) deal with clients who are making offer after offer going 10% above list and still can't get a contract on a house. If they get a home under contract, then it does not appraise and they have to come up with the extra $20-30k in cash just to get a loan.

Sorry but this is the realistic market today. Talk to other agents, they are very negative about the current situation also. A home $315k and below will probably get 10-15 offers (or more) right now, especially in the better school districts.

[BongoBungo]

Originally Posted by Rakin

Lewisville, Valley Ranch or probably Little Elm.
Older areas would include Bedford.

You may not be buying at the high point but the low point. We have 2-3 more years (at least) of jobs and people moving into DFW.

Yup, prices seem to be consistently going up still, and I don't see a reason why it will stop in the next two years. The increase in prices in my neighborhood have actually been accelerating in the past year. If you're going to buy and feel comfortable committing to a place for 5+ years, then do buy now before they go even higher. I bought my house a year ago, and in less than one year I'm already financially ahead of where I would be had I decided to rent - yes, and that includes closing costs if I were to sell right now.

[seek2advocate]

Originally Posted by BayTexan

No offense but this home is overpriced big time. 182 per sqft and for Frisco schools...

I agree and the sad thing is that they will get close to that price.

[pelucula]

Originally Posted by BayTexan

Toyota is known but where did you hear about Facebook, Microsoft, and AT&T? Are they moving people to the Dallas area?

when i spoke with my agent in florida, she anecdotally mentioned: why is everybody moving to dallas? i have people that are moving with microsoft an at&t.
a friend in dallas mentioned facebook openning offices there too. i see someone already mentioned their data center.
i googled for more info but did not find any.
didn't mean to start a rumor. i am basing my comments on those conversations.

[pelucula]

Originally Posted by turf3

How many of the cheerleaders here, who are telling you "buy now, before prices go even higher" are:

1) real estate agents, or:
2) people who recently bought a house and are thus invested in prices going even higher, or:
3) people with big home equity loans or lines of credit

??????

Think about it.

good point!
coming from florida....i know how a little about how the bubble slowly builds.

[JTC Mom]

Originally Posted by TurtleCreek80

Facebook is opening a large data center in Fort Worth; will have little impact on Dallas side of the metoplex.

AT&T is already headquartered in downtown Dallas. They relocated from San Antonio about a decade ago.

She is wrong about Microsoft though- nothing.

Agree on FB - large data center in north Fort Worth. I have heard "only" about 100-200 jobs though.

AT&T is already headquartered in Dallas, but they have said they are going to buikd a new campus in North Texas to consolidate theor regional employees. It could increase the number of employees in Dallas, drawing from other parts of the metroplex. However, I have also heard they are considering other parts of the metroplex.

[BayTexan]

No problem. Was just checking.

Originally Posted by pelucula

when i spoke with my agent in florida, she anecdotally mentioned: why is everybody moving to dallas? i have people that are moving with microsoft an at&t.
a friend in dallas mentioned facebook openning offices there too. i see someone already mentioned their data center.
i googled for more info but did not find any.
didn't mean to start a rumor. i am basing my comments on those conversations.

[mikestrong]

Originally Posted by Rakin

1. I qualify in my limited response to OP. I stated the next 2-3 years we should continue to see a heavy migration of people coming into TX from many higher priced states.

It's actually extremely difficult for folks like OP to buy a house right now and I'd actually like to see the market soften somewhat. I've almost given up working with many buyers due to the difficulty.

Personally, I don't see any sign of this mess stopping in the next 24-36 months. Beyond that who knows.

It's easy to blast a RE Agent for just speaking the truth. I actually dislike this market, it's very unbalanced.

So true. On the new homes side, I pray we see pricing stabilize some. Right now developers cant keep up with the amount of land that needs to be developed,and develop time is taking sooooo much longer then it used to. I have been pre selling a community. About to go into model, when we get there next week we will be down to 7 lots, and the developer hasnt even broker ground on next phase, so we will have about a year gap. We have so many realtors bringing in frustrated buyers who have been outbid on pre existing and have given up to go with new build.

People think that being in sales its all great. Its not.

[Threestep2]

Originally Posted by mikestrong

So true. On the new homes side, I pray we see pricing stabilize some. Right now developers cant keep up with the amount of land that needs to be developed,and develop time is taking sooooo much longer then it used to. I have been pre selling a community. About to go into model, when we get there next week we will be down to 7 lots, and the developer hasnt even broker ground on next phase, so we will have about a year gap. We have so many realtors bringing in frustrated buyers who have been outbid on pre existing and have given up to go with new build.

People think that being in sales its all great. Its not.

What price range are buyers looking at in this new development?