Consistently Outbid in Flower Mound, Grapevine, HEB, Trophy Club (Plano: 2013, renting)

[Persdawg]

We've been in the market for over a year in the $300-$350 range...attempting to move to this area from a condo in Las Colinas...and it's not happening...so we are going to be forced to keep renting.


We have been substantially outbid 6 different times and it has become so frustrating, it's not worth the head and heartaches.


Two things so many of these houses have that we don't want: pools and/or all upstairs bedrooms.
Disregard these things...and you can probably get yourself a house.


It is going to take a large national of global economic snafu to stop these housing prices here.
And at that point...most are scared or unable to buy because of employment concerns.


The large influx of people...particularly from Cali is accelerating this entire nightmare as well.


Fare thee well to the DFW middle class. We make over $150K.

[aggie972]

I can sum up the rest of this thread for you.

Responses from people who already own a home and/or are doing really well: So bid more doofus!

Responses from fellow prospective buyers and people with middle class salaries: These prices are insane, I don't see how this city can sustain such massive increases every year. This is a bubble that has to pop some time!

[LeagleEagleDFW]

The answer is that, right or wrong, those are hot areas in a very hard-to-find price point, and you either need to bid more or keep looking. We were outbid 2 or 3 times when we bought a house in Flower Mound a couple years ago.

[Persdawg]

granted...these are actually some of the hottest areas in the entire nation...
but you are crazy if you aren't selling right now...

[UnfairPark]

Entry level homes in desired areas always go like hot cakes. What's there to be surprised about? There are four options, look into not so desired areas, patiently wait for market to cool down, raise you budget or align your expectations to your budget and buy what you can afford.

[ThomasCrown]

If you make over $150k you shouldn't have a problem getting a house in that price bracket. In fact, I would think you'd be looking in the $400-$450k range. There's less buyers to compete with (though still a hot market in that range as well) but you'll be increasing your chances of finding a home you like.

For your budget, you need to be prepared to NOT get everything you want. If that means you find a house you like but it has a pool, that's a compromise you should be making.

Sobering fact for you... If you'd bid higher a year ago, you would have already made that up in appreciation by owning for the past year. By refusing to compromise, you are hurting your bottom line.

[jennifw]

Originally Posted by Persdawg

but you are crazy if you aren't selling right now...

Not crazy because you still have to re-buy in the hot market


Unfortunately, you are in a sweet-spot with a million other buyers. Time to readjust your wants/needs or your budget. Good luck.

[Persdawg]

Originally Posted by ThomasCrown

If you make over $150k you shouldn't have a problem getting a house in that price bracket. In fact, I would think you'd be looking in the $400-$450k range. There's less buyers to compete with (though still a hot market in that range as well) but you'll be increasing your chances of finding a home you like.

For your budget, you need to be prepared to NOT get everything you want. If that means you find a house you like but it has a pool, that's a compromise you should be making.

Sobering fact for you... If you'd bid higher a year ago, you would have already made that up in appreciation by owning for the past year. By refusing to compromise, you are hurting your bottom line.

I hear you...believe me. Due to circumstances...we sold our house in Plano in 2013...just as the market was exploding.
I've seen the price increase...and some things, my wife won't budge on...hence...we don't have a house.


$400K is a much easier market...but I don't want a $2500 all in payment...I have no intention of ever paying off a 30 yr note at this stage. I'm only putting down 10%


And what's the deal with Lewisville? It must be crime-ridden with bad schools, because that is the only affordable are north of 183.

[TurtleCreek80]

Originally Posted by Persdawg

We've been in the market for over a year in the $300-$350 range...attempting to move to this area from a condo in Las Colinas...and it's not happening...so we are going to be forced to keep renting.


We have been substantially outbid 6 different times and it has become so frustrating, it's not worth the head and heartaches.


Two things so many of these houses have that we don't want: pools and/or all upstairs bedrooms.
Disregard these things...and you can probably get yourself a house.


It is going to take a large national of global economic snafu to stop these housing prices here.
And at that point...most are scared or unable to buy because of employment concerns.


The large influx of people...particularly from Cali is accelerating this entire nightmare as well.


Fare thee well to the DFW middle class. We make over $150K.

My response is not meant to be rude. If you've been looking for a year and haven't found anything, you need to adjust your expectations. If you'd compromised on a pool (which can be filled in) or bedroom location (unless there is a physical need for downstairs master) a year ago, you could have been in a nicer/ larger house than you're going to get now. If you wait another year, it's only going to get worse- barring a major national recession or disaster.

I mean, I just don't believe you can't find anything even in HEB. It's not like the average income there is $150k, not anywhere close.

[mkdude_08]

We bought in Flower Mound a year ago after having moved from Minnesota. We weren't keen on the idea of the master bedroom being on the first floor while the other bedrooms were upstairs but we compromised. Why do you prefer the bedrooms to be on different levels? Seems to be a common thing down here.