Consistently Outbid in Flower Mound, Grapevine, HEB, Trophy Club (Howe: renter, mortgages)

[Mandycrowell31]

Originally Posted by Persdawg

Thx for the suggestion. That area will probably be the next housing boom because we are running out of space. But I don't think I could live with an hour commute daily.
I would rather be house poor than waste 10+ hours a week on the highway.


Our realtor recent even started throwing out Viridian in Arlington a couple of weeks ago...not sure how I feel about that pocket just yet.

I get that. I was more suggesting you look for "new constructions " communities within your desired commute area, than I was actually suggesting MY part of town. LOL. Trust me, with all of the growth in this area, there is a new construction MP subdivision development somewhere near you. It might be worth taking a look with your realtor. Best of luck, this is a really tough market to be a buyer.

[WorldKlas]

As a landlord, two of my properties have tenants who have been househunting. One couple recently told me they have given up. The 2nd couple -- she works in Euless and he works in Irving -- are looking at new construction in Frisco and Little Elm to avoid the bidding situation and find a house in their starter budget. I think that's a big mistake.

[Judsonzhao]

Exactly what happened to us unless we are looking at slightly cheaper ones. I got my house in FM last year this time for asking price. This year we (my GF) outbid even we offer 110%, often by cash.

[ea0337]

Originally Posted by WorldKlas

The 2nd couple -- she works in Euless and he works in Irving -- are looking at new construction in Frisco and Little Elm to avoid the bidding situation and find a house in their starter budget.

They'll waste time bigly commuting from Frisco, maybe Little Elm too.

[ChristieP]

Originally Posted by ea0337

They'll waste time bigly commuting from Frisco, maybe Little Elm too.

No kidding! And spend $$$ with NTTA!

[CREW747]

A few comments...

-We moved to the metroplex about 10 years ago and we never imagined seeing price increases like this so quickly.It is unreal.

-The $350,000-$400,000 price range seems most brutal.Ridiculoaly competitive.

-Anyone who is waiting to buy better not wait long.I think prices will level out in the next 4-5 years and keep climbing until then.

-Rumors are swirling about another major corporate relocation to the Legacy area.Hello traffic.I really hope the infastructure and roads can handle what is coming into that area...

[stan4]

Originally Posted by Persdawg

I won't argue that when push comes to shove, houses that don't meet your criteria can be had.
The difficult thing about that is paying the premium price right now. Thx for positive feedback.

You mentioned you never planned on paying off a house.
And you don't want to pay a premium price to get what you don't want.
So why even buy a house?
Keep renting.

[stan4]

Originally Posted by stephwin

I know that's not the case for most, but it was really interesting to me to see that almost everyone was from DFW. That being said, I don't know how many were natives.

My brother listed his home in the mid-500s in Preston Hollow.
All 5 bids he's received have been from flippers.

If people are looking to buy to live in a house are having to compete with investors who can pony up all cash up front, it's just dismal for them.

[BayTexan]

Who are the rumored relos to Legacy West?

Originally Posted by CREW747

A few comments...

-We moved to the metroplex about 10 years ago and we never imagined seeing price increases like this so quickly.It is unreal.

-The $350,000-$400,000 price range seems most brutal.Ridiculoaly competitive.

-Anyone who is waiting to buy better not wait long.I think prices will level out in the next 4-5 years and keep climbing until then.

-Rumors are swirling about another major corporate relocation to the Legacy area.Hello traffic.I really hope the infastructure and roads can handle what is coming into that area...

[Katana49]

Originally Posted by stan4

My brother listed his home in the mid-500s in Preston Hollow.
All 5 bids he's received have been from flippers.

If people are looking to buy to live in a house are having to compete with investors who can pony up all cash up front, it's just dismal for them.

You know, I think sellers have to take some responsibility for the markets being so brutal right now.

My last home, an investor came in and bought the house next door to me. Rented it out for the next 4 years. Well, that's all well and good for the investor, but renters typically do a horrible job with maintaining the home and landscaping, they don't really bond with their neighbors (why bother, it's a temporary situation) and they bring no stability to the neighborhood. They also like to feign ignorance when it comes to the HOA rules and regs IMO. Everyone was hoping that the house would be put up for sale.

My parents also have a neighboring house that is owned by an investor, and that house has been rented by a steady stream of awful renters, enough so that the HOA has gotten involved continuously. We're not talking a cheap home either, it's currently listed for $450k.

I think all of us who own our homes should be making an effort to sell to families. I'm not saying to take a bad deal or sell for less than what you could get from an investor's cash offer, but honestly I couldn't care less whether it's an all cash offer or not. If I have to wait a month to close vs a matter of days, it doesn't bother me in the slightest, and I'd rather see my home go to a family who will live in the home, not an investor who wants to rent it out then flip it. Not to mention, I know my neighbors would rather see the home go to a new neighbor, rather than a string of renters for an investor who they'll probably never even see or meet.

Just something for sellers to think about.