Trying to buy a house in Dallas SUCKS!!

[RaggedHole]

After a quick weekend trip we ended up having great luck and finding a great house in Plano. The first few we really liked all had multiple offers so our choices were trying to outbid someone by 10-15k or try another approach. We found a 70s rancher in good shape but very dated on a big lot, with a pool, at the end of a cul-de-sac. It was on the market for 25 days when we offered and ended up offering asking but had the sellers pay our 8K in closing costs. During our option contract window we asked for another 7K in repairs after getting the inspection and after some serious haggling we got it. Felt like we got a great deal and it appraised for above our offer as well. A big project ahead but I feel pretty confident any money we invest into remodeling will have a pretty good return on investment.

Looking at what houses sold for +/- list in the past 30-60days it really seems like March and April are the prime months to buy. Our realtor said May and June are very active and July is an absolute feeding frenzy.

Good luck to anyone out there going through this, after the first day of all day house shopping we were super stressed out with the limited choices and high prices and this is not our first rodeo.

 

[shipwreck]

After a quick weekend trip we ended up having great luck and finding a great house in Plano. The first few we really liked all had multiple offers so our choices were trying to outbid someone by 10-15k or try another approach. We found a 70s rancher in good shape but very dated on a big lot, with a pool, at the end of a cul-de-sac. It was on the market for 25 days when we offered and ended up offering asking but had the sellers pay our 8K in closing costs. During our option contract window we asked for another 7K in repairs after getting the inspection and after some serious haggling we got it. Felt like we got a great deal and it appraised for above our offer as well. A big project ahead but I feel pretty confident any money we invest into remodeling will have a pretty good return on investment.

Looking at what houses sold for +/- list in the past 30-60days it really seems like March and April are the prime months to buy. Our realtor said May and June are very active and July is an absolute feeding frenzy.

Good luck to anyone out there going through this, after the first day of all day house shopping we were super stressed out with the limited choices and high prices and this is not our first rodeo.

Congrats., Glad ya finally got it.

I was getting a divorce and was looking at finding a condo (all I could afford after the ex bought me out of my 1/2 of the house). It took me almost a year to find something and move in. They show condos for 24 hours... Sometimes 8. They just pick the highest price, and go. This is a college town, so it's usually rich parents buying it for their kid. Even when I had the highest offer,m they always go with the cash offer.

Imagine living with your ex another year because of this. I thought it would never end....:P

 

[RaggedHole]

Congrats., Glad ya finally got it.

I was getting a divorce and was looking at finding a condo (all I could afford after the ex bought me out of my 1/2 of the house). It took me almost a year to find something and move in. They show condos for 24 hours... Sometimes 8. They just pick the highest price, and go. This is a college town, so it's usually rich parents buying it for their kid. Even when I had the highest offer,m they always go with the cash offer.

Imagine living with your ex another year because of this. I thought it would never end....:P

Man, that sounds horrible, glad you are finally out of it and hopefully things are better now. Can't believe the market in DFW...

 

[F350-6]

Congrats. Now keep the sale records handy so you can fight the tax appraisal next year when they try to add 6 figures to the value of your house.

 

[stdreb27]

Most just throw it on MLS and let the market run its course. The same effort goes into selling a 200 grand house that goes into selling a 400 grand house. I would put my negotiating skills up against any realtor, in fact I negotiated a better deal than my last realtor when he was ready to take the sellers offer without a counter.

Crap I can't find an agent that won't do anything more than show me houses I find on har to look at.

It ticks me off.


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[TX-Badger]

Congrats. Now keep the sale records handy so you can fight the tax appraisal next year when they try to add 6 figures to the value of your house.

Definitely second this! Wife and I bought 2 years ago and have had to contest the tax appraisals each year because of the amount they wanted to increase it. Way above what markets are dictating.

 

[Darkpriest667]

Definitely second this! Wife and I bought 2 years ago and have had to contest the tax appraisals each year because of the amount they wanted to increase it. Way above what markets are dictating.

But to be fair the property values in the North Dallas area are skyrocketing. Good on you fighting the tax appraiser. Down here south of fort worth they haven't even appraised our house more than what we bought it for 6 years ago... Which is good because it's kept my ridiculous property taxes low. However, I may be moving to the Austin area this summer and if you want to talk about a hot market good grief.

My 2850 sq foot 2 Story 5 Br 2.5 Bath house in Plano/Mckinney/Frisco probably costs half a million dollars.. I got it down here for 181. It's PROBABLY worth about 230 now. Then you get to contend with the traffic up there.

GLAD HE FOUND A PLACE THOUGH!

 

[supermilano]

After a quick weekend trip we ended up having great luck and finding a great house in Plano. The first few we really liked all had multiple offers so our choices were trying to outbid someone by 10-15k or try another approach. We found a 70s rancher in good shape but very dated on a big lot, with a pool, at the end of a cul-de-sac. It was on the market for 25 days when we offered and ended up offering asking but had the sellers pay our 8K in closing costs. During our option contract window we asked for another 7K in repairs after getting the inspection and after some serious haggling we got it. Felt like we got a great deal and it appraised for above our offer as well. A big project ahead but I feel pretty confident any money we invest into remodeling will have a pretty good return on investment.

Looking at what houses sold for +/- list in the past 30-60days it really seems like March and April are the prime months to buy. Our realtor said May and June are very active and July is an absolute feeding frenzy.

Good luck to anyone out there going through this, after the first day of all day house shopping we were super stressed out with the limited choices and high prices and this is not our first rodeo.

That is awesome, I gave up on buying a house a month ago I think I might just grab some land in Colorado and just live in my Apartment until I find something I been casually looking on and off for the past month.

 

[jeepinbanditrider]

We're looking at a few places east/north east of Dallas. I work in Garland and the wife works in Richardson. It's been a trip for sure. We're as far out as an hour to an hour and a half drive for both of us to work. But we're still seriously considering a few places that far out.

 

[supermilano]

We're looking at a few places east/north east of Dallas. I work in Garland and the wife works in Richardson. It's been a trip for sure. We're as far out as an hour to an hour and a half drive for both of us to work. But we're still seriously considering a few places that far out.

I considered a couple homes but the kicker was my commute would of been an hour and a half for me to commute to downtown and I don't think I am about that life right now.

 

[Army 1911]

House prices in Richardson are crazy. I was offered $250K for my place. They just wanted the land. They scrape the house and rebuild. Our lot is on the small side of average. But near UTD.

 

[jeepinbanditrider]

I considered a couple homes but the kicker was my commute would of been an hour and a half for me to commute to downtown and I don't think I am about that life right now.

We have a few advantages. I'll be on a 24 on 48 off shift soon and the wife only works 4 days a week.


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[supermilano]

We have a few advantages. I'll be on a 24 on 48 off shift soon and the wife only works 4 days a week.


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Oh that's definitely a plus. I would have to make that commute 5 times a week and if I wanted to cut 15-25 minutes off my commute I would have to pay for toll but the DNT is just as bad as 75 & 35 anyways so it puts me in a tough place.

 

[supermilano]

House prices in Richardson are crazy. I was offered $250K for my place. They just wanted the land. They scrape the house and rebuild. Our lot is on the small side of average. But near UTD.

Doesn't surprise me when I was looking at some of the houses in Dallas the houses were basically going to have to be demolished and rebuilt but they still wanted 250k-300k for the "house" Land.

 

[robertc1024]

Sounds like the McMansion's in WestU in Houston.

 

[shellslinger]

Does anyone have a realtor that they can recommend for buying a home in the Plano, Allen, Frisco, Mickinney area? Looking to buy a home soon. Sorry to thread jack.

 

[RaggedHole]

Does anyone have a realtor that they can recommend for buying a home in the Plano, Allen, Frisco, Mickinney area? Looking to buy a home soon. Sorry to thread jack.

Debbie Keach was amazing for us. Very well know around DFW but gave us very individualized service and helped us find a great house. We got her info from a lot of other people's recommendation as well!

http://www.ddkeach.com/

 

[shellslinger]

Debbie Keach was amazing for us. Very well know around DFW but gave us very individualized service and helped us find a great house. We got her info from a lot of other people's recommendation as well!

http://www.ddkeach.com/

Awesome thank you very much!

 

[supermilano]

Awesome thank you very much!

Having any luck? lol

 

[Dickulous Nickulous]

It's not just purchasing a home in DFW that's super expensive, the insurance is definitely pricier than most areas of Texas, and definitely the country for that matter.

I work in insurance and I deal with the real estate sector quite often. I've seen the prices get out of control with foreign investors coming in making cash offers on single and multi-dwelling homes for the PI. If you're a young couple looking to buy a home around here you better be a doctor/lawyer or willing to settle!