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Trying to buy a house in Dallas SUCKS!!

Discussion in 'Dallas & Fort Worth' started by supermilano, Mar 3, 2017.

  1. supermilano

    supermilano New Member

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    I have been trying to buy a house in Dallas (From Dallas CBD all the way up to North Dallas) for like 6 months now and the past 3 months I been trying in Plano, Richardson, Los Colinas, & even Frisco! Every offer I put into a house even if it's 10k- 20k over asking price I keep getting outbid by "cash buyers".

    I think I am destined to just rent for another couple years. I considered looking into Rockwall, Wylie, Little Elm, Prosper, and any outlier city, but that would make the commute insane.
     


  2. Rebel

    Rebel TGT Addict TGT Supporter

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    Sounds like when the Chinese were moving into Silicon Valley a few years ago. You couldn't buy a home unless you were willing to pay 20-40k above list.
     
  3. supermilano

    supermilano New Member

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    I actually looked into this, and there is merit to what you are saying. I guess in Asia there's villages and/or smaller communities that are close knit and they are pooling their money together and buying up real estate in America. I think if it's foreign investment they should be taxed at a higher rate on property taxes. I don't know how good that would work lol but it might help curve all the foreign money being dumped into here, and shafting actual Americans trying to buy a home.
     
  4. joking

    joking Active Member

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    Same story here in Houston. I got outbid by those cash buyers 7 or 8 time already.
     
  5. busykngt

    busykngt TGT Addict

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    California "cash" buyers.... especially if they sold their house in Kalifornia!
     
  6. Younggun

    Younggun Doer of Deeds TGT Supporter Admin

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    hill co.
    Yep.

    They leave their hell hole to come to Texas for the milk and honey, then they want to "fix" it like CA.




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  7. Recoil45

    Recoil45 Well-Known

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    It's a crazy hot market right now. There are 20k new jobs opening in frisco in the next year from companies like liberty mutual and Toyota.


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  8. BigBoss0311

    BigBoss0311 Well-Known

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    We had this same issue in early to mid 2015. We were offering usually 10k over list, plus offering double the holding fee or whatever its called, plus writing letters. We were the best and highest offer on all 11 houses we offered on. Our main issue was we were using VA loan versus all the cash buyers coming in from Cali. People would rather take list or lower than list if you have cash versus waiting for a bank to approve everything. My wife did most of it on her own and it was practically hell on earth. We got very very lucky in our purchase. Property values are through the roof and are only going up still. Good luck to you and keep at it. We liked redfin the best for searching.
     
  9. Recoil45

    Recoil45 Well-Known

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    It's everywhere. My house up north had 4 couples bid it up over 40k above asking the first day on the market. All Americans, one couple were teachers, another was local3, another a retired couple and the last guy was NYC fire.


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  10. beatnix

    beatnix Member

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    I live in Dallas, I could realize a 50K profit from my purchase price of 5 yrs ago if I sold now,. But like you said, I'd have to move 40-50 miles out of Dallas to replace it! Not a fan of commuting.


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