Housing market (Leonard, Leona: real estate, apartment, renters)

[Leonard123]

Originally Posted by madison19

We don’t need a good school rating as our kids are at college now. Are there any areas which are safe but have price range between 350-450k?

If something becomes available, you can get that easily in McKinney, among countless other places. You have plenty of choices in that range as long as you don't need a McMansion.

[mastershake575]

Originally Posted by madison19

I am a little confused about one thing. If prices are increased a lot by seller- how does the appraisal thing go?

People are paying straight cash or paying at least 20% down so if the sale price is higher than the apprisal by a good amount then it won't conflict with the lender (assuming they even need a lender)

[jiping]

My McMansion was listed last week and there were 50+ showings. Multiple offers w/ appraisal waiver.

I'm moving to Austin and situation there is even worse. Mush less inventory and double the price.

[LocalPlanner]

Originally Posted by jiping

My McMansion was listed last week and there were 50+ showings. Multiple offers w/ appraisal waiver.

I'm moving to Austin and situation there is even worse. Mush less inventory and double the price.

I can't imagine trying to buy a home in Austin right now. That metro truly has a housing crisis.

[ElmoPuffinburger]

This thread had me curious so I went to realtor.com and searched 75093. I filtered out the pending and contingent offers and the available inventory was a whopping 7 houses. Three were over $2M (one of those at $10M!) with a fourth at $1.4M. So three available properties under a million in 75093 on realtor.com. I would hate to be looking for a house these days.

[Kenro911]

I think next step would be to start selling units within 'rental apartments'. You know the ones that are 3-6 levels high and are made out of toilet paper essentially. 300-400K per 2 bedroom in Frisco will be perfect.

[loves2read]

Originally Posted by DFWGuy422

I don’t foresee it slowing down anytime soon. Until the supply of houses matches the insane demand (see a recent thread about Dalls development for more on this), it will continue to be nuts

Mortgage rates are inching up so people are trying to buy before there is more increase than they can live with/qualify for for house price in their strike zone

[Leonard123]

Originally Posted by loves2read

Mortgage rates are inching up so people are trying to buy before there is more increase than they can live with/qualify for for house price in their strike zone

That will only impact buyers at the mid to lower price points. Depending on how much is financed, the lower mortgage rate people got earlier could easily be wiped away by the increased property tax assessments.

As I've said elsewhere though, people can still find cheaper housing in certain cities. If people are so desperate to move, they are going to have to look away from the most popular hot spots.

If they refuse, as most here seem inclined to, they are going to have to give up and make preparations or change plans to stay wherever they are for the foreseeable future.

[SyZ]

Friend who is a realtor showed a home over the weekend and said it received 124 offers.

[DFWUser1]

Originally Posted by SyZ

Friend who is a realtor showed a home over the weekend and said it received 124 offers.

what's happening now (all across country and in all markets), never saw in the past 30 years even during the previous crazy runs. Stocks started to fall like a rock..let's see what happens to housing..interesting to watch..cannot predict anything..