Is Texas real estate slowing down?

[BoostedD1]

Can you still find a reputable builder for 250k farther north? Beautiful home btw.

[4king]

We designed and had our house built in 2013 for 250k, neighbors have been selling recently for 390k and they are on smaller lots and only 2 car garages. Frisco / mckinney btw

The reason most of my neighbors are bailing is that they signed 15 year mortgages and with the recent spike in property values their mortgages were raised $400 a month. I took a 30 year note and mine went up only $139 a month last year. I saw no reason to pay off the house faster just to pay more in property tax after its paid off.

[kpc01]

Thanks everyonr for responding, theres a lot of good answers in here.

It looks like there are a lot of factors that have impacted the market, and that while not all areas are slowing down...some are. The reasons being:

-Prices finally caught up to demand in the 250-350 range

-new build inventory is finally catching up

-foreign investment MAY be slowing

I see a few saying that they plan to sell next year when toyota and other places arrive, hopefully your plans pan out.

Ive been worried about a recession coming soon and a correction to the housing situation. The fed no longer has the ability to drop rates to stimulate sales since theyre already rock bottom low. 2016 and 2017 will be some interesting/weird years.

Also...i think we will see a surge in theft/robberies when the housing market crashes because of the now unemployed workforce.

I think thats all pretty accurate! I have a house listed right now thats been on the market almost 30 days. 2 months ago the same houses down the street were selling in 2 days for more then asking price. Even when I look at CSS at the local showings they are down as a whole. Every year after school starts and in between Christmas its always a little slower. I have a few buyers moving to town now and looking and theres still not much inventory, just less buyers at the moment IMO

houses in the colony are still selling fast as shit! (less than a week if price isn't stupid)

I paid 67k for mine in 2003 and im pretty sure I could get 110k for it the way it sits.. I owe less than 50k now what what!

I hope it stays that way, I have a house we just bought in the Colony that should have a full remodel finished in the next 2-3 weeks. We hope to get it listed by mid November and make a little money off it!

I have had a lot of friends in Denton tell me if I could get " " for my house I would sell it...we run comps and their jaws drop at the value and they see that it most likely would sell for their numbers. Definitely a crazy market still

[03mustangdude]

I'm just waiting for a new bridge overpass to be put in in west fort worth and then a developer will scoop up the land across the street and build a shopping center. Dont know what it'll do for property values but i'm already 50-75% on roi if i sold.

[black2002ls]

bought ours for 145k in 2009, we could list for 220k and it should be gone in a week

Frisco

I am REALLY hoping this happens with ours. Though it is looking more like we are going to need piers every day and that isn't cheap so my ROI may blown away. We bought about $15k lower than anything on our street. It needed a good rehab. We did a budget refurb, new floors and paint, before we moved in. I have some bigger upgrades planned for the next couple of years. Greenville has finally got a city council that is pro growth and I am hoping that starts to increase property values. Wr talk all of the time about the tipping point, value, that would encourage us to sell.

Sent from my SAMSUNG-SGH-I337 using Tapatalk

[CWO]

bought ours for 145k in 2009, we could list for 220k and it should be gone in a week

Frisco

[slow99]

We are finishing one off audelia and Ferndale right now. Richardson schools FTW

Word, and that's Northlake District. Look at the markets in Moss Haven, Merriman, WRE districts ... fucking insane.

[War Machine]

That, and our neighborhood is still on fire due to the schools. It's all those families right around the tollway/Inwood that are outside of Park Cities and in DISD. They paid for private schools forever, but now that private school runs $20k a year per kid, they're getting the hell outta there and scooping up the homes here. We had 2 on my street in the past week sell above asking within a couple of days.

We are finishing one off audelia and Ferndale right now. Richardson schools FTW

[D. Lil]

I've got you beat.

Paid 157k for mine in 2013 put 0 down and now I could sell for 205 easy. Maybe 215.

Factoring in around maybe 1k in closing costs that ROI is pretty insane.

That's in Mckinney FYI

[Stephen]

houses in the colony are still selling fast as shit! (less than a week if price isn't stupid)

I paid 67k for mine in 2003 and im pretty sure I could get 110k for it the way it sits.. I owe less than 50k now what what!

[slow99]

That's why we stick to Dallas and Richardson homes. No room to build

That, and our neighborhood is still on fire due to the schools. It's all those families right around the tollway/Inwood that are outside of Park Cities and in DISD. They paid for private schools forever, but now that private school runs $20k a year per kid, they're getting the hell outta there and scooping up the homes here. We had 2 on my street in the past week sell above asking within a couple of days.

[War Machine]

Forney homes are still flying off the market. But I think Bcoop is spot on about the sweet spot. Generally most of the homes in Forney fall in that range.

That's why we stick to Dallas and Richardson homes. No room to build

With all the homes they're building in Forney the price per sqft price on the homes won't see much of a increase. I think it'll stay around where the prices are now

[bcoop]

I'm by the lake, and there is a huge area of land owned by a single family with a bunch of double-wides on it, that will get snapped up in an instant and it will be glorious.

Ha! A buddy of mine owns that trailer park and land. The only way anything is going to happen there will be by way of eminent domain, or someone comes in and gives them crazy, ridiculous money. I'm pretty sure all of Grapevine hates them, but they just keep cashing checks. lmao. I'm fairly certain the city threatens them every 5 years or so, but this has been going on for decades.

[mstng86]

http://www.realtor.com/news/real-est...eptember-2015/

Forney homes are still flying off the market. But I think Bcoop is spot on about the sweet spot. Generally most of the homes in Forney fall in that range.

[War Machine]

http://www.realtor.com/news/real-estate-news/the-20-hottest-markets-of-september-2015/