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Re: Property price predictions
[Re: GusWayne]
#8560256
03/19/22 11:24 PM
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Joined: Oct 2007
Posts: 8,291
BradyBuck
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I saw a 1 acre tract around Decatur listed for 160k today
Is it that hot? Half acre lot in my BIL's neighborhood outside of Abilene just sold for $200k.... In freaking Abilene! It's insane
HRCH Washita's Kimber Locked N Loaded GRHRCH Firefly's Rally The Troops MH
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Re: Property price predictions
[Re: GusWayne]
#8560282
03/20/22 12:43 AM
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Joined: Oct 2008
Posts: 16,870
68rustbucket
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It’s crazy when you see that level of pricing, even in Abilene. I’d like to move, but refuse to pay double the property taxes. We will just stay put, and enjoy being debt free.
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Re: Property price predictions
[Re: GusWayne]
#8560284
03/20/22 12:48 AM
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Joined: Oct 2017
Posts: 6,012
angus1956
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Posts: 6,012 |
Sit tight something has to give this can't go on forever.
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Re: Property price predictions
[Re: tlk]
#8560298
03/20/22 01:07 AM
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Joined: Aug 2005
Posts: 32,053
txtrophy85
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[quote=68rustbucket]I’ve never seen land prices go down in Texas. Maybe hold steady for long periods. You must be young. In the 1980's if you were in the real estate business you were screwed. Prices fell like a rock. The RTC (Resolution Trust Corp) was a government sponsored entity set up solely to liquidate real estate foreclosed on during the S & L crisis. Books have been written about it. I owned property that was sold by that entity for $0.10 on the dollar. [/quote Yep mid to late 1980's the savings and loans went belly up - they were handing out mortgages to anyone who asked - I saw many a person go bankrupt - lost their business, their houses, etc. It was nasty - you could buy property then dirt cheap In 2008 prices softened 10-20% depending on location. Anyone speculating on property values currently better have a crystal ball. We can either have a correction in price, a softening in the market activity or could continue on this current pace where properties are appreciating 10-25% year over year. No one knows. We are in uncharted water.
For it is not the quarry that we truly seek, but the adventure.
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Re: Property price predictions
[Re: GusWayne]
#8560314
03/20/22 01:20 AM
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Joined: Jul 2015
Posts: 23,197
Bee'z
The Beedazzler
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The Beedazzler
Joined: Jul 2015
Posts: 23,197 |
TXtrophy is correct. The demand is so high way may just see a blip if [censored] were to hit the fan. Nothing surprises me these days and I see it everyday.
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Re: Property price predictions
[Re: angus1956]
#8560315
03/20/22 01:24 AM
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Joined: Jan 2007
Posts: 15,556
reeltexan
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Sit tight something has to give this can't go on forever. Correct. Prices go up, prices go down. Some of the current generation haven’t seen both sides. There are two sides.
"If we ever forget that we are One Nation Under God, then we will be a nation gone under." Ronald Reagan
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Re: Property price predictions
[Re: Bee'z]
#8560325
03/20/22 01:35 AM
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Joined: Oct 2017
Posts: 6,012
angus1956
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TXtrophy is correct. The demand is so high way may just see a blip if [censored] were to hit the fan. Nothing surprises me these days and I see it everyday. There is less than 500,000 homes on the market right now inventory is usually 1.5 million plus. This is one major factor for driving prices through the roof. The feds aren't proping up the housing market anymore and COVID forbearance has ended. There are 4 million estimated foreclosures coming. Gonna get western soon.
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Re: Property price predictions
[Re: angus1956]
#8560342
03/20/22 02:10 AM
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Joined: Jul 2015
Posts: 23,197
Bee'z
The Beedazzler
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The Beedazzler
Joined: Jul 2015
Posts: 23,197 |
TXtrophy is correct. The demand is so high way may just see a blip if [censored] were to hit the fan. Nothing surprises me these days and I see it everyday. There is less than 500,000 homes on the market right now inventory is usually 1.5 million plus. This is one major factor for driving prices through the roof. The feds aren't proping up the housing market anymore and COVID forbearance has ended. There are 4 million estimated foreclosures coming. Gonna get western soon. There are so many new people moving here that have cash this is a non factor. The north Texas job market is so high it is not even funny. Granted I am talking Frisco, Celina area but the area surrounding that market is also seeing the same influence. $125k over asking just picked one up here on the lake and that is freaking unheard of. The demand is there Now are people getting [censored] loans. Probably but not like 06ish but they are upside down no doubt.
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Re: Property price predictions
[Re: Bee'z]
#8560349
03/20/22 02:21 AM
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Joined: Jul 2009
Posts: 9,763
Tin Head
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Joined: Jul 2009
Posts: 9,763 |
TXtrophy is correct. The demand is so high way may just see a blip if [censored] were to hit the fan. Nothing surprises me these days and I see it everyday. There is less than 500,000 homes on the market right now inventory is usually 1.5 million plus. This is one major factor for driving prices through the roof. The feds aren't proping up the housing market anymore and COVID forbearance has ended. There are 4 million estimated foreclosures coming. Gonna get western soon. There are so many new people moving here that have cash this is a non factor. The north Texas job market is so high it is not even funny. Granted I am talking Frisco, Celina area but the area surrounding that market is also seeing the same influence. $125k over asking just picked one up here on the lake and that is freaking unheard of. The demand is there Now are people getting [censored] loans. Probably but not like 06ish but they are upside down no doubt. yeup they are creating the same bloated system they ran from . All by design, why Texas , why now? Hint its been in the books for at least 30 years .
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Re: Property price predictions
[Re: GusWayne]
#8560367
03/20/22 02:54 AM
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Joined: Aug 2004
Posts: 17,721
Txduckman
THF Celebrity
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Posts: 17,721 |
Y'all tell me
I am seeing some ungodly prices for places north west of Ft Worth
Ive been here my whole life
Is this a bubble or just the beginning?
North/West of Ft Worth, what used to be called the country That stupid National Land Partners has a new property by my lease in Montague. Selling 2 acre lots for $49,000 in the middle of no where. Pretty sure all their clients come from California. In my actual neighborhood it's crazy. One house just sold for $480 a sq ft!
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Re: Property price predictions
[Re: angus1956]
#8560406
03/20/22 04:17 AM
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Joined: Jul 2006
Posts: 110,804
dogcatcher
THF Celebrity
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Joined: Jul 2006
Posts: 110,804 |
Sit tight something has to give this can't go on forever. It will level off, but the good old days of affordable housing are a long way off. The people we have met that are moving here from California are paying cash. Price of materials has skyrocketed, once the lumber companies realize what people are willing to pay, the prices will not be going that far down.
Combat Infantryman, the ultimate hunter where the prey shoots back. _____________"Illegitimus non carborundum est"_______________
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Re: Property price predictions
[Re: Bee'z]
#8560437
03/20/22 11:32 AM
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Joined: Sep 2004
Posts: 12,436
RedRanger
THF Celebrity
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Joined: Sep 2004
Posts: 12,436 |
TXtrophy is correct. The demand is so high way may just see a blip if [censored] were to hit the fan. Nothing surprises me these days and I see it everyday. There is less than 500,000 homes on the market right now inventory is usually 1.5 million plus. This is one major factor for driving prices through the roof. The feds aren't proping up the housing market anymore and COVID forbearance has ended. There are 4 million estimated foreclosures coming. Gonna get western soon. There are so many new people moving here that have cash this is a non factor. The north Texas job market is so high it is not even funny. Granted I am talking Frisco, Celina area but the area surrounding that market is also seeing the same influence. $125k over asking just picked one up here on the lake and that is freaking unheard of. The demand is there Now are people getting [censored] loans. Probably but not like 06ish but they are upside down no doubt. i just sit back and watch my house appreciate monthly
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Re: Property price predictions
[Re: RedRanger]
#8560440
03/20/22 11:36 AM
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Joined: Dec 2008
Posts: 41,230
J.G.
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Joined: Dec 2008
Posts: 41,230 |
And so does the appraisal district.
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Re: Property price predictions
[Re: GusWayne]
#8560464
03/20/22 12:28 PM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
They just bulldozed nearly every tree down on a beautiful 1200 ranch outside of Millsap to put in a new subdivision. Absolutely ruined a awesome piece of property, just so a bunch of dorks can have this view. I really feel for the young men just getting starting out in life who want a house on a few acres out in the woods like I did. It ain't happening now. A 21 yo kid can't compete anymore.
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Re: Property price predictions
[Re: GusWayne]
#8560471
03/20/22 12:42 PM
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Joined: Feb 2012
Posts: 10,548
DQ Kid
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$200+ per sqf. is pretty standard for pre-existing in Flower Mound, 3 years ago was probably $125 or so.
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Re: Property price predictions
[Re: J.G.]
#8560493
03/20/22 01:21 PM
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Joined: Sep 2004
Posts: 12,436
RedRanger
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And so does the appraisal district. I am good with it, Property Taxes are pretty cheap now of day in my area, I only pay 10K per year, hasn't went up much in the last few years. I have outstanding city services, Police Department is top notch and very customer service oriented, outsanding Fire Department and I understand they have the latest and greatest equipment and outstanding dispatch time, The City of Frisco is very customer service detailed, they take care of their citizens and the city and keep it modern and make it a leading city in the USA. Last I checked Frisco was the fastest growing city in the USA the past decade from 2010 to 2020. I snook in up here back in 2009, looking back it was a master move.
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Re: Property price predictions
[Re: DQ Kid]
#8560501
03/20/22 01:29 PM
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Joined: Sep 2004
Posts: 12,436
RedRanger
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Posts: 12,436 |
$200+ per sqf. is pretty standard for pre-existing in Flower Mound, 3 years ago was probably $125 or so. Yep, My buddy sold his home last month in Flower Mound, 20 year old house, they asked for $220 per square ft, Had over 17 offers first day, they got 100K over asking prices. Put on market for $550K and that was top of sq ft in his area since and he took $650 with a 2 month free leaseback and buyers didn't want any pre inspections done
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Re: Property price predictions
[Re: GusWayne]
#8560521
03/20/22 01:58 PM
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Joined: Aug 2008
Posts: 14,957
don k
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I have actually never seen the price of land go down here. I have seen it stabilize for a time but that is about it. My parents bought this place in 1963 for around $87 per acre. 430 acres within 3 miles of the town of Bandera. This past year a couple of places joining us are selling for $14,000 per acre. About 10 years ago I bought 18 acres off one of these places for $6,000 an acre. So now that $14,000 doesn't really sound that bad. If a person can afford buying it would probably be a good investment. But that is a big if. And how much longer are the interest rates going to stay low? And a lot of the buying now is done by people wanting to flip it in a short amount of time. Even if it just stabilizes there are going to be those that can't afford to hang on to it for an extended period.
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Re: Property price predictions
[Re: GusWayne]
#8560699
03/20/22 08:18 PM
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Joined: Mar 2012
Posts: 13,639
1860.colt
emoji colt.45
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Joined: Mar 2012
Posts: 13,639 |
seen on a tumbstone on boot-hill... The only land i ever owned tis this here dirt they use ta bury me with... pappy price of land been going up for centries...
i'm postaddic
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