Is Texas real estate slowing down?

[hotrodcobra]

I think location is key, along with school district, type houses/businesses in immediate area, etc.

I have several hundred acres near Burleson and lease another 450 from 3 out of town property owners. I barely make a living raising cattle, but it's what I want to do and I won't consider moving until my 2 boys are out of school (5 more years). We have been approached by several large developers since we are in a prime development area and the first prices thrown around are pretty crazy. It appears to me that builders are desperate for land here.

I hate the thought of prime farm land raising concrete instead of crops and cattle, but it is nuts to ranch on this land forever. My time is limited here.

I will likely do a 1031 (or something like that) land swap eventually instead of a cash sale due to taxes. But the times, they are a changing.

One of the developers told me that he has purposely slowed down the building of new houses in the metroplex because he will be out lots in the not too distant future at the current rate of sales.

[War Machine]

We bought our house for $425k 2 years ago. We were talking to our real estate agent a while back about an unrelated matter and he said that he could sell our house that day for $575k if we were interested. I said ok, what do you have around here for me to move into? Nothing, not a thing right now.

when you get ready to sell, I set you up with our agent. 1 percent sellers fee.

[BMCSean]

Are you Russian now?

[Gasser64]

you've never seen roll races done at a track? why mention they are roll racers if the dig was a given? spend more time at the track instead of disney land, lots of things have changed. your stock block with a t-trim and 15 pounds would likely shit itself pulling on the trailer. care to prove me wrong?

Just quit arguing. Just... stop. You're doing it wrong.

[War Machine]

Are you Russian now?

You rascal

[kpc01]

Pretty good info on the current state:

http://www.dallasnews.com/business/d...nding-soon.ece

[Ruffdaddy]

Almost 3 years later and its finally happening!!!!

https://www.dallasnews.com/business/real-estate/2018/07/20/dallas-summer-housing-market-seeing-cool-front

[01yz2nv]

Market sucks right now IMOP, we have a contract on another house on 61 acres with a contingency on selling our home. Located in Princeton, 3/2/2 1600sqft built in 05, on close to an acre and a half lot, very nice cul de sac neighborhood.Been on the market for close to 3 weeks now and we’ve had 3 showings. And we are priced we feel right on the money. Other houses on our street sold in days for over $300k just last year. We are dropping to $269k tonight.

[Broncojohnny]

Houses between $500 and $800k are stacking up like firewood in Plano. Not uncommon to see them on the market for over 90 days.

[Ruffdaddy]

Market sucks right now IMOP, we have a contract on another house on 61 acres with a contingency on selling our home. Located in Princeton, 3/2/2 1600sqft built in 05, on close to an acre and a half lot, very nice cul de sac neighborhood.Been on the market for close to 3 weeks now and we’ve had 3 showings. And we are priced we feel right on the money. Other houses on our street sold in days for over $300k just last year. We are dropping to $269k tonight.

I'm definitely holding off on a major land purchase now specifically because of the fall off. There's no way I'm going to buy acreage knowing it's going to start out at a 20% hit

Houses between $500 and $800k are stacking up like firewood in Plano. Not uncommon to see them on the market for over 90 days.

That's also happening in the high 300s to low 400s here in mckinney. Everything around us has been on the market for at least 3 months. Some of the new builds are holding around 4-5.

I think it's a combo of no major new corporate moves and over development here.

[AnthonyS]

Market sucks right now IMOP, we have a contract on another house on 61 acres with a contingency on selling our home. Located in Princeton, 3/2/2 1600sqft built in 05, on close to an acre and a half lot, very nice cul de sac neighborhood.Been on the market for close to 3 weeks now and we’ve had 3 showings. And we are priced we feel right on the money. Other houses on our street sold in days for over $300k just last year. We are dropping to $269k tonight.

We are in a similar situation. It's the slow time of the year for house sales historically. Spring and Fall are better. Expect things to pick up once school starts again. We didn't get our house on the market until the end of May and we should've sold in April. We turned down one offer thinking we'd get more and are still stuck with the house. Our new house is supposed to close on 9/24 and I need the cash from this one for the contingency. I'm not excited about the prospect of selling my Porsche and getting a bridge loan either. I'm going to start contacting investors on Aug 1 when our contract expires with our realtor. I may just take a screwing via opendoor too at that point. We shall see. We've dropped the price a lot and I would take 10k less right now if a serious buyer showed up.

We bought in August too and the seller was very flexible. July and August are buyers months.

Once folks are trying to get their kids in the right schools it will pick back up substantially. It's also too damn hot out right now to be looking at property is what a lot of realtors are hearing and saying.

[01yz2nv]

Pretty much our exact situation. We have till 9/27 to close on the other property.

[Broncojohnny]

Just talk to a realtor, they will tell you it is still ON FIRE!

[HarrisonTX]

I hope so, I'm just trying to get 2-4 acres and everything I see south of i20 seems to be 40-50 an acre, its insane.

[bubbaearl]

waiting on my godson to finish school which is 5 years. when we get ready to sell the land and house i will list it with realtors in california . hopefully the west coast migration will still be strong .