Dallas home bidding wars 2021 (Post: sales, countertops, how much)

[place]

I m seeing home buying has gone crazy in Dallas

LP - List Price

Location 1 - 2003 Built - LP 365000 - Winning price 440000
Location 2 - 1999 Built - LP 450000 - Winning price 475000
Location 3 - 2009 Built - LP 365000 - Winning Price 415000
Location 3 - 2012 Built - LP 450000 - Winning Price 495000


I am completely lost. Not even single home is appraised 80% of list price.
Am I and other buyers loosing sense and paying more than what we could get out of lesser interest rates.

All new builds are keeping up healthy waiting list and hiking the prices.

What should i do and what are my options.
Are we having so much supply/demand mismatch.

Would this recede

[Clever nickname here]

It is a combo of low interest rates and no inventory.

[WorldKlas]

Date built is not really a factor in the sales price. Size, price per square foot and amenities (pool, outdoor kitchen, updating, schools, community, number of garages, & location are factors.

You can work with a realtor and keep shopping and bidding or take a break. At some point the market will recede. It always does.

[ChristieP]

Originally Posted by Clever nickname here

It is a combo of low interest rates and no inventory.

And buyers trying to escape California with a load of cash after selling their house there.

[Rakin]

I have my doubts your data is correct. For someone to have the final prices and appraised values is doubtful.

Post the addresses and let me verify your data on the sales prices. Appraisals are confidential between the Buyer and Lender. No one gets that info. Maybe you're talking about tax appraisal which means zilch.

[turf3]

And Texas is a non-disclosure statement so the actual selling price is rarely available. The deed of trust is public information, but that only tells you how much was borrowed.

[place]

I know my veracity of statements will be questioned and those who ask these qns are never going to post these messages. I am a law abider and hence due to non disclosure law I abstracted my messages. Never going to post actual addresses

I am not agent but a buyer on market. Above all a honest human being.

When i say appraised value , i am talking about appraised value by county

I was able to get the prices from the comps provided for subsequent offers

[ChristieP]

County tax appraisal does not equal market value. County tax strictly goes by square footage, age and location. They don't care if you have granite or formica countertops, hardwood or linoleum flooring, etc. The only time you get a break on county tax value is if there are problems with the house, such as foundation issues. Their "market value" also lags by over a year. True market value is found by looking at comps, or having a certified appraisal done.

[serger]

Originally Posted by ChristieP

County tax appraisal does not equal market value. County tax strictly goes by square footage, age and location. They don't care if you have granite or formica countertops, hardwood or linoleum flooring, etc. The only time you get a break on county tax value is if there are problems with the house, such as foundation issues. Their "market value" also lags by over a year. True market value is found by looking at comps, or having a certified appraisal done.

Not exactly. Each time I protest my value, Collin county sends me comparable properties that include recent sales. They have MLS access.

[fleaflicker]

We also started looking for a house since last month and surprised by bidding wars and on couple of houses we were interested in. We are not in a rush and think market will get better for buyers starting spring when more houses are available.