Opinions about this home in Flower Mound

[hereticiam]

Originally Posted by Gaylord_Focker

That's a cool house and likely better than what you can get in Minneapolis for that price.

Yes, it is a beautiful home. This is why my wife is encouraging us to buy it even though it will though to move mid-year.

[Leonard123]

Originally Posted by FreeVilley

In the last 30 days in the Big 4 Metroplex Counties, 303 Single Family homes have closed over 1MM, 97 were cash deals and 188 were Conventional loans. So roughly 2/3rd of homes over 1MM are subject to the mortgage rate market.

I'm not sure what the rationale is, but we're dealing with people who obviously have money to burn, so it still wouldn't really matter to them. Perhaps these are investors. Who knows? It's hard to tell much from a 30 day snapshot.

[Rakin]

Originally Posted by hereticiam

Yes, it is a beautiful home. This is why my wife is encouraging us to buy it even though it will though to move mid-year.

You did see where it is already under contract?

[DFW_FTW]

Originally Posted by Rakin

You did see where it is already under contract?

People are still in la la land.

Originally Posted by FreeVilley

In the last 30 days in the Big 4 Metroplex Counties, 303 Single Family homes have closed over 1MM, 97 were cash deals and 188 were Conventional loans. So roughly 2/3rd of homes over 1MM are subject to the mortgage rate market.

No one has money anymore. Everyone is impacted by the rising rates. Assets are getting beat up (beautiful 842 point Dow drop today) and affordability is dropping. I don't care how much you make or how little you need to use debt.

Rising rates means you're getting crushed in more than just one way.

Don't get me started on impact of rates on inflation, stock market and our national debt.

[hereticiam]

Originally Posted by Rakin

You did see where it is already under contract?

I missed it. I came into the market/zillow on Saturday morning. It got sold very quickly. Goes to show that while inventory is rising good homes are still selling quickly.

[Wittgenstein's Ghost]

Originally Posted by hereticiam

I missed it. I came into the market/zillow on Saturday morning. It got sold very quickly. Goes to show that while inventory is rising good homes are still selling quickly.

Since we had previously looked at that area quite a bit, I think I'm pretty familiar with pricing there. I think that house was priced pretty competitively. There are plenty of houses in that price range that are sitting if they aren't priced well for what they are.