North Texas real estate

[Ruffdaddy]

To those of you in the residential real estate market...what have you seen so far? I've noticed houses in my neighborhood sitting for several months that used to sell in a month or 2 max. So I have a few questions:

Is this a result of prices finally catching up to demand?

Have sales finally slowed down in certain markets?

Or is this really just a supply side issue where developers have produced enough housing to slow the rate of sales in a specific neighborhood...but maintain the volume of total new houses sold?

FWIW...i do think my neighborhood was overpriced but it sold very well last winter so I was obviously wrong about that at the time.

[Big A]

I've been watching the MLS closely, and everything that hits my filter(s) has been contracting in 2 weeks or less. A couple have had to go back on the market, due to contingency of financing issues I would presume, but they got contracted again shortly thereafter.

Prices are still higher than giraffe pussy imo, but my mind's still stuck in 2009, when I left.

[Ruffdaddy]

I've been watching the MLS closely, and everything that hits my filter(s) has been contracting in 2 weeks or less. A couple have had to go back on the market, due to contingency of financing issues I would presume, but they got contracted again shortly thereafter.

Prices are still higher than giraffe pussy imo, but my mind's still stuck in 2009, when I left.

Thanks for the feedback. This is in Plano/Frisco right?

I'm really hoping for a reduction in land prices soon but they are still pretty high within an hour of mckinney/frisco.

[John -- '02 HAWK]

To those of you in the residential real estate market...what have you seen so far? I've noticed houses in my neighborhood sitting for several months that used to sell in a month or 2 max. So I have a few questions:

nov, dec, and jan are usually slow months. weather and holidays.

[Chas_svo]

It’s very interesting watching what Zillow emails on house values and markets compared to what the houses near me do. I guess it’s my subdivision, and specifically the larger houses on 1/2 acre lots that drive the demand, but everything else in this zip (Haslet) must be terribly slow.

I still have realtors cold calling me and asking if me or any of my neighbors are thinking about selling.

Good luck on land. To me, the land makes the housing market look cheap, at least for land within 1 hr from my zip.

[whitetrash]

This is a slow time of the year for the market. Most people try to move during summer while kids are out of school or over one of the bigger school breaks. Mainly Christmas

[Ruffdaddy]

nov, dec, and jan are usually slow months. weather and holidays.

I definitely understand slow months...but it's much slower than this time last year.

It’s very interesting watching what Zillow emails on house values and markets compared to what the houses near me do. I guess it’s my subdivision, and specifically the larger houses on 1/2 acre lots that drive the demand, but everything else in this zip (Haslet) must be terribly slow.

I still have realtors cold calling me and asking if me or any of my neighbors are thinking about selling.

Good luck on land. To me, the land makes the housing market look cheap, at least for land within 1 hr from my zip.

Yeah that's why I'm hoping for a slow down in the market. As much as I want to buy now...i don't want to overpay. But as I expected...im seeing something that isn't here simply because i want it to be true.

[Chas_svo]

Yeah that's why I'm hoping for a slow down in the market. As much as I want to buy now...i don't want to overpay. But as I expected...im seeing something that isn't here simply because i want it to be true.

Same here. I believe there are deals out there, just gotta find them.

[Big A]

Thanks for the feedback. This is in Plano/Frisco right?

I'm really hoping for a reduction in land prices soon but they are still pretty high within an hour of mckinney/frisco.

Plano, Frisco, Allen, McKinney, Parker, and Prosper. Parker area seems to have the best $1/sqft out of them, but too far east for us I'm thinking. I'm trying to convince Tanya to retire early, so we can get an acre or two over there in Lucas/Fairview, but it's a tough sell at this point.

[kingjason]

We can't get the houses in Venus built fast enough for all of the buyers. At one point the builder was trying to start the houses before the streets were in. Waxahachie is ridiculous also. I think anywhere within an hour or two of the metro is crazy right now. I mean hell, they think Waco is basically the DFW south ring now.

[dcs13]

Gonna sell both my places between Melissa and Blue Ridge this summer. Praying for some choo choo money. Sold some land last summer and killed it.
Moving south, too damn many people around here these days

[Ruffdaddy]

Gonna sell both my places between Melissa and Blue Ridge this summer. Praying for some choo choo money. Sold some land last summer and killed it.
Moving south, too damn many people around here these days

Details on the land?

Edit: the land you plan to sell. Unless you meant houses by "both my places".

[JV106]

Sold mine a week ago. Had 14 showings in 2 days. I got $8k over asking price - cash. And $56k more than I bought it for 9 years ago. Closed a week after I signed the contract. That’s the good news.

Now I’m headed to bigger debt. But I’ll have 11 acres and the old lady is happy.

The market out here took a while to start doing the same as north dfw. I think this side of town still has plenty of growth and gains coming.

[Ruffdaddy]

Plano, Frisco, Allen, McKinney, Parker, and Prosper. Parker area seems to have the best $1/sqft out of them, but too far east for us I'm thinking. I'm trying to convince Tanya to retire early, so we can get an acre or two over there in Lucas/Fairview, but it's a tough sell at this point.

We had to end up buying new because I didn't want to deal with the constant bidding wars given we were 250 miles away.

I should have also specified new home sales and not existing.

I'll say that one of the best decisions we made with this house was buying outside of a MUD tax region. It's just an extra $150 to $200 /month that never goes away. It was a little more per square foot to buy where we are, but lower cost overall.

I wanted a big lot as well but have decided it's more realistic to but a separate plot of land/ranchette. Buying a 1 acre lot in town is just too expensive and more yardwork than I want to do.

[dcs13]

Details on the land?

Edit: the land you plan to sell. Unless you meant houses by "both my places".

Sold the raw land.
Up for sale will be:
1- 2200 sq ft. on 10 acres, 30x40 shop, pool, 2 barns..
2- 1300 sq ft. brick house on 5 acres, 1 barn
Haven't really set any prices yet.. Raw land went for 15k an acre