Dallas Housing Market (Leonard, Leona: credit card, student loans, employment)

[EDS_]

Originally Posted by CamThomas

It's whatever you're comfortable with. If you can afford it, go for it. Always noticed size seems to be a big deal to Texans and most southerners. It's not the same on the coasts of course.

Also, the 300k car has a purpose.

It's not the same on the coasts, in great part anyway, because people simply cannot afford more space.

[TheOverdog]

Summers are getting hotter in Texas and from those who live in Collin County, how serious is this problem [water]?

Not particularly serious. First north TX gets 30+ inches or rain per year on average, and this has been a drought year, but we are still probably going to meet our averages. Second, a new reservoir is currently under construction, and will be filled soon. 3rd, we have been though droughts before and outdoor watering restrictions have been in place for a long time, so north Texas knows how to deal with drought.

[oil capital]

Originally Posted by TheOverdog

Not particularly serious. First north TX gets 30+ inches or rain per year on average, and this has been a drought year, but we are still probably going to meet our averages. Second, a new reservoir is currently under construction, and will be filled soon. 3rd, we have been though droughts before and outdoor watering restrictions have been in place for a long time, so north Texas knows how to deal with drought.

How is it a drought year if we are expected to meet our averages?

[Leonard123]

Originally Posted by Titus Pullo

I wanted to thank all those who replied. Sorry it took a while for me to respond.

I've always been a frugal person and in retirement I plan to remain that way. I'm looking for no more than 2K square feet of house. From what I have seen by the posts, taxes and auto insurance is about the same as any other place (which is surprising since I always thought NY was the leader in lightening your wallet).

However, 'Mastershake' touched on this briefly and I too have wondered about the water situation in North Dallas. Summers are getting hotter in Texas and from those who live in Collin County, how serious is this problem? With all the transplants moving there and population boom, how will this impact water shortage in the near future? Is the traffic any worse?

According to my calculations, financially I will be fine. The only issue I will have is the lack of health insurance since there are no doctors in North Texas who will take my plan. So I will have to buy into the marketplace or think about getting a job for this purpose.

Anybody here pay for their own health insurance (non-medicare)?

I would think the bigger concern would be the infrastructure in general. It costs a lot of money and takes a long time to get it built out in the newer areas and to maintain it in the older areas.

I have heard water rates are astronomical in Celina and will be as of this month in McKinney, much more than surrounding cities. You can check those out on the cities' websites.

Yes, traffic is going to be a huge problem, and if it's a TxDOT road, you will find it under constant construction. Highway 75 has been under construction nonstop since the 1980s. 380 is a death trap. I wouldn't get on any Texas highway if my life depended on it.

Overall, the areas with a lot of new construction housing are going to be the worst for traffic. More established neighborhoods will not have the traffic problems or high costs.

[TheOverdog]

How is it a drought year if we are expected to meet our averages?

Because we went like 85-90 days consecutively without rain, which included most of October (one of DFW's rainiest months).

[Kenro911]

Interesting how we went from 'what do you mean you want to see a house? There are already 20 offers unseen with everything waived 20% above listing after 48hrs on market, highest an best by 72hrs since listing' To now 'Please come to our open house!!! Pretty please, it's been on market for 60 days!! Seller is motivated, offers considered!'

[ThomasCrown]

Originally Posted by Kenro911

Interesting how we went from 'what do you mean you want to see a house? There are already 20 offers unseen with everything waived 20% above listing after 48hrs on market, highest an best by 72hrs since listing' To now 'Please come to our open house!!! Pretty please, it's been on market for 60 days!! Seller is motivated, offers considered!'

People have short memories. The Fed rate increases have made investors pause as they weigh what the market will look like next year, but at least in the affluent suburbs, those families that were moving or planning to move due to the circumstances in their lives, haven't changed their plans. In fact, I know quite a few corporate relos who are ecstatic about the current state of the market... they sold earlier this year and have had a housing allowance this year to rent while they search for a home and they're loving that prices are coming down off their peak and that they won't have to bid above asking.


People are wary of overpaying now, which is a much better and more sustainable outlook than a bidding war marketplace that is disconnected from true market value.

[numbersguy100]

Originally Posted by Kenro911

Interesting how we went from 'what do you mean you want to see a house? There are already 20 offers unseen with everything waived 20% above listing after 48hrs on market, highest an best by 72hrs since listing' To now 'Please come to our open house!!! Pretty please, it's been on market for 60 days!! Seller is motivated, offers considered!'

The market has become a lot more normal, which is good. iBuyers are mostly gone from the market too. They were creating an unhealthy sense of urgency for actual human buyers and exacerbating the problem.

[Leonard123]

Originally Posted by numbersguy100

The market has become a lot more normal, which is good. iBuyers are mostly gone from the market too. They were creating an unhealthy sense of urgency for actual human buyers and exacerbating the problem.

I think it's too soon to call it "normal." There is far too much economic and market instability to know what's normal.

I do believe that if mortgage rates had not gone up like they had, continued housing price increases would have made up for it. It's unfortunate that it ever got to the point it did.

[iamanewuser]

Why so quiet? This was/is my daily diet of CD Dallas forum. What do the wise minds here say is the best move for buyers and sellers in today's/upcoming market. I wonder why would a seller sell in today's market unless they absolutely have to. Wouldn't that bring us back to low inventory situation that was prevalent few short months ago? It seems very uncertain still.