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Old 11-02-2016, 08:50 PM
 
3,754 posts, read 4,244,443 times
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You waited too long. We sold our home at the end of 2014 and purchased another at the same time because even back then, prices were rising and those $450k homes would soon be $500k or even out of reach.

Sure enough... if we wanted to buy the home we are in now in 2016, we'd need to bring another $100k+ to the table.
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Old 11-02-2016, 09:01 PM
 
3,478 posts, read 6,561,271 times
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I've been watching a sign for a new neighborhood off 2499 in Flower Mound. 3 years ago the sign said "Starting at the $450s"

Now it says "Starting at the 650s"

Our home in Coppell has appreciated almost 70% since we bought it 4.5 years ago. It's just the way it is right now
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Old 11-02-2016, 09:07 PM
 
13,194 posts, read 28,309,749 times
Reputation: 13142
Quote:
Originally Posted by avayan View Post
Yes, I did. It is a little bit more complex than that, though. My family has an "acquired taste" so homes have to be gorgeously pretty and desirable. Back when we started looking in july 2015, there was plenty of 450K homes to look at. Later, they all became 500K and now they are in the 600K.

Although I started to look in mid 2015, we didn't have our home ready to sell until August 2016. The house sold in a week, but now it seems we are in quite the pickle...
I hope you didn't price your home based on what the values were a year ago! It seems like you thought the market remained static from 2015 to 2016....
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Old 11-02-2016, 09:14 PM
 
3,678 posts, read 4,178,617 times
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Quote:
Originally Posted by mSooner View Post
I've been watching a sign for a new neighborhood off 2499 in Flower Mound. 3 years ago the sign said "Starting at the $450s"

Now it says "Starting at the 650s"

Our home in Coppell has appreciated almost 70% since we bought it 4.5 years ago. It's just the way it is right now
70%? Seriously? I thought Coppell was more like 30% up.

Last edited by UnfairPark; 11-02-2016 at 09:31 PM..
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Old 11-02-2016, 09:17 PM
 
3,678 posts, read 4,178,617 times
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Well, it seems you can't acquire a home to suit your acquired taste. Frankly, home buying is budget based, not taste based.
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Old 11-02-2016, 09:28 PM
 
18,561 posts, read 7,380,719 times
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Quote:
Originally Posted by avayan View Post
I am thinking this is a bubble and it will burst which is why there is no way I can even entertain getting on such ridiculous wagon!


Anybody has some sort of indication of when this bubble may burst or if this is just how it is going to be from now on?
There is no bubble.
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Old 11-02-2016, 10:57 PM
 
88 posts, read 122,696 times
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70% in Coppell sounds a bit high. I would have guessed 30% to 50%.

Sure, Zillow may make you think a house is worth more than it is. The truth comes when you actually place a house on the market.
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Old 11-02-2016, 11:04 PM
 
73 posts, read 121,419 times
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I was thinking the same thing. We only became interested in moving to Texas sometime in the last 3 years. We weren't serious back than but I remember in 2013 home prices were much lower then they are now. It's crazy how much things can change in a few years. Where I live now on the East Coast, real estate hasn't gone up as much as it has in Dallas. It's gone up a little but not like $100K+ per house or something. I was talking to my sister in Plano a few days ago and she said they're thinking of selling their home now just to make at least $100K profit and move closer to work. She said the houses in her custom built neighborhood are much smaller then her house and been selling for a lot of money and selling QUICK. They've lived there maybe 4 years that's it. But yeah..... for us, who hope to relocate soon, it's a totally different ball game now. The homes we wanted in 2013 cost much more now and it's because of the demand and people like me wanting in. It's crazy! I can't believe it sometimes. Dallas is no longer a 'cheap place' to buy a house. I know it never really was with the higher property taxes but still, I miss the old home prices too OP!
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Old 11-03-2016, 03:38 AM
 
Location: plano
7,891 posts, read 11,417,653 times
Reputation: 7800
I agree there is no bubble in housing market in DFW area. I think Ive seen some bubble like asking price on a few homes but they sit on the market and cut price to catch the strong demand wave. I suggest you engage a strong realtor in the areas you are looking and find out what sales price suggest your sought after home should have.

THis is one strong market driven by the job driven population growth of this area with Collin County in the strong seat of this market due to the good higher pay jobs its captured. Those jobs are to and mid next year so I suspect the strongest growth may be ahead not behind us in the Plano and neighboring areas.
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Old 11-03-2016, 04:10 AM
 
31 posts, read 41,105 times
Reputation: 34
Quote:
Originally Posted by loves2read View Post
Anyone with an "acquired taste" better have acquired the money to go with...


I have "acquired" the money, what I have not "acquired" is the lunacy to pay 100K+ more for something that does not have that kind of value. Will let others "enjoy" from a 450K home which they were able to acquire for the lightning deal of 600K ;-)
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