The nation's obsession with Texas? (Dallas, Austin: homes, job market, neighborhood)

[Gunion Powder]

Originally Posted by radiolibre99

I'm smh and chuckling at the poster who said his 325,000 is nothing special. No where in Texas is a 325k home nothing special. Maybe inner city Austin but if you're up in north Texas, cmon.

Eh, I think I'd have to agree with him. In much of suburban Texas, a 300K home is most likely a larger, cookie cutter two story on a small lot. I'm sure that same price will get you much more in rural areas that aren't in the Hill Country.

[KathrynAragon]

Wow, so many people are really out of touch with what's "special" and what's middle of the road.

Here are the listings in a 20 mile radius of Dallas, from $180,000 to $350,000. To me, most of the $180,000 homes look like "middle of the road" listings, and the ones that are $350,000 do not look "middle of the road," but they do look "special."

3-Bedroom Dallas, TX Homes for Sale - realtor.com®

Same within 20 miles of Austin:

3-Bedroom Austin, TX Homes for Sale - realtor.com®

Come on.

[Gunion Powder]

Originally Posted by KathrynAragon

Wow, so many people are really out of touch with what's "special" and what's middle of the road.

Here are the listings in a 20 mile radius of Dallas, from $180,000 to $350,000. To me, most of the $180,000 homes look like "middle of the road" listings, and the ones that are $350,000 do not look "middle of the road," but they do look "special."

3-Bedroom Dallas, TX Homes for Sale - realtor.com®

Same within 20 miles of Austin:

3-Bedroom Austin, TX Homes for Sale - realtor.com®

Come on.

I never said anything about middle of the road, but we clearly have a different idea of special; which is fine. Still, just because a house looks nice on the outside or has a high price tag doesn't make it a truly quality home.

You're talking to someone who grew up with seven family members in a three bedroom house made of vinyl. I think my perspective is pretty fair.

[radiolibre99]

No way. The house I grew up in today is worth 300+k. The land is what makes the whole property valuable and pushes it up to 600k. But the house itself is 300k and has a deck, pool, six bedrooms and a separate garage. It's nice. Upper middle class yet my dad never made big bucks. Back then all that was cheap though.

Outside of the major cities 300k gets you a really nice house. In the exurbs it's a really nice house in an upper middle class master planned community. Closer to the city like in Houston you could probably snag a sweet looking townhouse in an upscale gentrified area.

Most lower middle or middle class homes in Texas are in the 120-180k range. Once you dive into 250k you're looking at some really nice living space. Most of the newer homes that are in the 300k range in Texas would be million dollar homes in California.

[KathrynAragon]

Originally Posted by Gunion Powder

I never said anything about middle of the road, but we clearly have a different idea of special; which is fine. Still, just because a house looks nice on the outside or has a high price tag doesn't make it a truly quality home.

You're talking to someone who grew up with seven family members in a three bedroom house made of vinyl. I think my perspective is pretty fair.

I don't know much about your perspective, but I do know that I was a successful realtor for years in northeast Texas so I do know the difference between quality and a cheaply built home.

I also know that homes in all price ranges can be "quality" or "cheap" when it comes to construction.

My point - which is rational and not emotional - is that the $350K is FAR from the median price of homes in both Dallas and Austin metros.

To me, "median" is a better word than "average" when it comes to determining the middle price range of homes in an area, because "average" can be skewered by a handful of extremely high or low priced properties, while "median price" describes the exact middle of the price range - half of home owners have a home that costs less than the median price and half have a home that costs more.

So in both areas, $350K is FAR above the median price of homes. That makes that price and therefore the home "special" in the context of this conversation - I didn't say anything about quality or aesthetics.

In fact, in Texas in general, the median price for a home is $155,400, making $350K QUITE "special."
Texas Home Prices & Home Values | Zillow

[KathrynAragon]

Originally Posted by radiolibre99

No way. The house I grew up in today is worth 300+k. The land is what makes the whole property valuable and pushes it up to 600k. But the house itself is 300k and has a deck, pool, six bedrooms and a separate garage. It's nice. Upper middle class yet my dad never made big bucks. Back then all that was cheap though.

Outside of the major cities 300k gets you a really nice house. In the exurbs it's a really nice house in an upper middle class master planned community. Closer to the city like in Houston you could probably snag a sweet looking townhouse in an upscale gentrified area.

Most lower middle or middle class homes in Texas are in the 120-180k range. Once you dive into 250k you're looking at some really nice living space. Most of the newer homes that are in the 300k range in Texas would be million dollar homes in California.

Exactly.

I live in a $250K home in a nicer than average neighborhood (not bragging, but my husband and I made a good choice because we bought one of the older homes in the neighborhood so it's on the lower price range of the neighborhood, which is a good way to buy real estate). My adult kids are in their late twenties and early thirties and are shopping in lower price ranges - still middle class but under $200K. So I've been out house shopping with them off and on over the last few years.

It's very easy to see the difference that $100K can make - in any metro area. Our house is significantly more "special" than the ones they're looking at - and significantly less "special" than homes in the $350K range.

[radiolibre99]

What $325,000 buys in and around Houston now - Houston Chronicle

What 325k gets you in Houston. Beautiful homes.

[Gunion Powder]

Originally Posted by KathrynAragon

I don't know much about your perspective, but I do know that I was a successful realtor for years in northeast Texas so I do know the difference between quality and a cheaply built home.

I also know that homes in all price ranges can be "quality" or "cheap" when it comes to construction.

My point - which is rational and not emotional - is that the $350K is FAR from the median price of homes in both Dallas and Austin metros.

To me, "median" is a better word than "average" when it comes to determining the middle price range of homes in an area, because "average" can be skewered by a handful of extremely high or low priced properties, while "median price" describes the exact middle of the price range - half of home owners have a home that costs less than the median price and half have a home that costs more.

So in both areas, $350K is FAR above the median price of homes. That makes that price and therefore the home "special" in the context of this conversation - I didn't say anything about quality or aesthetics.

In fact, in Texas in general, the median price for a home is $155,400, making $350K QUITE "special."
Texas Home Prices & Home Values | Zillow

Once again, you're using words I never did. Above average =/= special, in my book, and "special" certainly isn't the term I use for low-brow McMansions.

[Gunion Powder]

Originally Posted by radiolibre99

What $325,000 buys in and around Houston now - Houston Chronicle

What 325k gets you in Houston. Beautiful homes.

...as of one year ago. But, yeah, houses with garages as front doors don't fit my definition of beautiful or special.

[radiolibre99]

It is about perspective but at the same time one perspective could be way off. For instance, one of my supers invited me over to their house. They were trying to be a bit of a braggart by showcasing it and talking about it being a million dollar home in a nice part of town called Studio City, which is really nice. I told him it was nice but he was expecting me to bow down or something. I told him we have homes that look just like this in an area near where I grew up called Cinco Ranch. I swear it looked exactly like one of those homes except it had the Spanish style roof. They cost 300k at most for the same house. Granted all the talk about desirability, location, supply and demand, ok I get all that but none of it phases me when I look at quantifying my COL. The stuff they factor in here in LA for stuff doesn't even compute in my book. Their answer to everything is "well it's LA", you pay the premium. I think no you're paying out the nose for an inflated housing market propped up by NIMBYism, high demand, restricted supply, foreign investors outbidding the natives, etc. all to say you live in LA.
In that scenerio the million dollar home was nothing special to me. To Californians like him it was the boom biddy bomb. So imagine growing up with that perspective in CA?! Thank God for Texas or I would get hosed and end up justifying my costs with all sorts of nonsense.

Gunion is actually exhibiting a trait many Texans share and that's not necessarily a bad thing because they're thinking bigger.