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Re: Property Values Crazy. [Re: BradyBuck] #8538081 02/22/22 03:59 PM
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Originally Posted by BradyBuck
Not sure how this got into a rural vs urban debate but I'm thankful everyday that I'm raising my children in a place that hasn't gone completely crazy.

A place that by in large still has conservative values a place they can grow up in a similar environment that I did.

I guess you guys get used to it but I can't imagine living in the city, I can hardly stand just driving through.



There are still very conservative urban burbs.


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Re: Property Values Crazy. [Re: Stub] #8538290 02/22/22 08:11 PM
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Yeah, I may get pushed out of the neighborhood if this kinda crazy keeps up:

Neighbors on next street over - Tiny house, a shop, and 69 acres - only two and a half: https://www.zillow.com/homedetails/340-Lakeview-Dr-Valley-View-TX-76272/304046224_zpid

Funny thing is, only a 'lakeview' if you have a drone...

Re: Property Values Crazy. [Re: oldoak2000] #8538301 02/22/22 08:21 PM
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Originally Posted by oldoak2000
Yeah, I may get pushed out of the neighborhood if this kinda crazy keeps up:

Neighbors on next street over - Tiny house, a shop, and 69 acres - only two and a half: https://www.zillow.com/homedetails/340-Lakeview-Dr-Valley-View-TX-76272/304046224_zpid

Funny thing is, only a 'lakeview' if you have a drone...



That ponds got hell of a duck blind written all over it.

I cant say I blame them, very nice place


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Re: Property Values Crazy. [Re: Stump_jumper] #8538580 02/23/22 02:38 AM
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Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.


Ive heard same about other small towns on the east side of DFW. Cali transplants dont like that area I guess.

Re: Property Values Crazy. [Re: Poppa] #8538589 02/23/22 02:56 AM
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Originally Posted by Poppa
Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.

what was listing price?

$379K


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Re: Property Values Crazy. [Re: jeepercreeper] #8538594 02/23/22 03:02 AM
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Originally Posted by jeepercreeper
Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.


Ive heard same about other small towns on the east side of DFW. Cali transplants dont like that area I guess.

Nothing in Fate going for less then list. My daughter offered $390 on a house in my neighborhood listed at $385. They would have offered more but they did not like the flooring. My SIL told me it sold for well over $400k.


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Re: Property Values Crazy. [Re: Stump_jumper] #8538604 02/23/22 03:11 AM
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Originally Posted by Stump_jumper
Originally Posted by Poppa
Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.

what was listing price?

$379K

thanks reason i asked is i have 1 acre with 30 x 60 shop that is half a one br living space behind my house its nice i think, cant really get any good comps because of the neighborhood dosent have a lot of turnover, we have been considering selling

Re: Property Values Crazy. [Re: jeepercreeper] #8538609 02/23/22 03:18 AM
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Originally Posted by jeepercreeper
Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.


Ive heard same about other small towns on the east side of DFW. Cali transplants dont like that area I guess.


The house I referenced in my first post that went for over $1.475 and listed for $1.4 was in Heath.

Supposedly Forney is growing super fast, a little further out than Heath, but I like that area.

Re: Property Values Crazy. [Re: jeepercreeper] #8538629 02/23/22 03:53 AM
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Originally Posted by jeepercreeper
Originally Posted by Stump_jumper
My daughter and her husband just bought a house on 1 acre in Forney. He was looking for a place with a shop. This one did not have one so he offered $19k under list and got it.


Ive heard same about other small towns on the east side of DFW. Cali transplants dont like that area I guess.

seen a lot of chicago the last time I drove through the area a few months back


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Re: Property Values Crazy. [Re: oldoak2000] #8538708 02/23/22 12:15 PM
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Originally Posted by oldoak2000
Yeah, I may get pushed out of the neighborhood if this kinda crazy keeps up:

Neighbors on next street over - Tiny house, a shop, and 69 acres - only two and a half: https://www.zillow.com/homedetails/340-Lakeview-Dr-Valley-View-TX-76272/304046224_zpid

Funny thing is, only a 'lakeview' if you have a drone...


There is a deal Pending on it, probably a developer is buying it? For $2.5 Mil. that is not bad for a great looking house and 69 acres ($36,,231 per acre) for wooded land right next to the lake.

Interesting old sub division just north with al of the small homes and trailers!


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Re: Property Values Crazy. [Re: Stub] #8538714 02/23/22 12:32 PM
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$36K per acre is actually really high relative to the area and to history.


Pass the gravy.


Re: Property Values Crazy. [Re: Stub] #8538717 02/23/22 12:35 PM
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It is called inflation. What was your take home 20 years ago?


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Re: Property Values Crazy. [Re: Stub] #8538745 02/23/22 01:02 PM
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FWIW, Home prices climb to the highest levels in 34 years, 18.8% YOY as of Dec 31, 2021..


Make America Great Again

Re: Property Values Crazy. [Re: bill oxner] #8538751 02/23/22 01:07 PM
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Originally Posted by bill oxner
It is called inflation. What was your take home 20 years ago?


Poll after poll after poll has shown that inflation is the #1 priority for Americans right now. If everyone's take home matched the trajectory of the prices we are seeing it would not be that big of a deal. Not sure why that's so hard to understand.


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Re: Property Values Crazy. [Re: Stub] #8538869 02/23/22 03:03 PM
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Originally Posted by Stub
Ran into one of neighbors this morning that is selling his house, it is 2,930 sq foot house with 4 bed, 3 bath a pool and lots of updates.
Previously he shared with me that they would probably list it for $695,000, but said a realtor told him at least $715,000.

So this morning I ask him how is the house selling going? He grins and says we have it under contract and guess how much?

I pop off and say $715,000, his grin gets bigger as he shakes his head side to side and say nope, I say $745,000 and again Nope with an even bigger grin scratch
Me okay how much? He said they listed it for $739,900 had more than 30 showings in less than a month and had two people offer $775,000 with both parties knowing they will have to come to the table with more $$$ if the appraisal does not get there. They accepted the one with the most favorable closing conditions.

Maybe it's time to sell our house and take the money and run, question is where to?




Exactly right.
Sell and do what? Anything you buy or build will cost you and arm and a leg to.

Hell, it is everywhere now in TX. There are some new subdivisions in far east Bexar County off IH10 that are going to be absolute ghettos within 10 years or less. These are very, very crappy built homes without a piece of masonry on them and are built literally 6' apart. They are small homes and being marketed as 'starter homes' and selling like hotcakes at $200/sf. Yup....a quarter million for a 1,200 sf house where when you fart your neighbor both hears and smells it.

This is straight up crazy what is happening right now and there is absolutely no way in hell it can sustain itself. The market is going to crash and crash hard and there will be thousands and thousands of foreclosures as well as many people who will still be making large house mortgage payments on a home they are literally 'upside down' on for a long, long time.


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Re: Property Values Crazy. [Re: Stub] #8538877 02/23/22 03:13 PM
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That is amazing, we had neighbors from California. Never really talked to them much. They bought a house on one acre across the street 3 years ago for $411,000. 5 bedrooms 4 baths, pool, 2 brick out buildings, one with a small beauty shop for the previous wife family own use. really well put together house. They never advertised here, no signs nothing, they just sold for $715,000. I'm pretty sure they only advertised in California. I live in Belton Tx out in the county.

Re: Property Values Crazy. [Re: Stub] #8538887 02/23/22 03:21 PM
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When the housing market crashes it will be hard and on it's face. The stars are aligning for this to happen.

1. Inflation out of control over 7%
2. Interest rates on the rise 4%+
3. No inventory 1.5 million homes not on the market causing out of control pricing. This is due to COVID and people not moving and working from home.
4. Feds not proping up the housing industry as of early 2022
5. Bear stock market on the horizon
6. Banks will be foreclosing on home loans and calling in notes. Which they could not due because of COVID during this time (2 years).

What did I leave out? confused2

Re: Property Values Crazy. [Re: bill oxner] #8538895 02/23/22 03:33 PM
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Originally Posted by bill oxner
It is called inflation. What was your take home 20 years ago?


According to every inflation calculator my home should only be worth half of what I’ve been offered…

So it’s way more then inflation.


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Re: Property Values Crazy. [Re: Stub] #8538900 02/23/22 03:39 PM
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land and property still cheap in west texas

sell your house and move to Leuders

Re: Property Values Crazy. [Re: Stub] #8538903 02/23/22 03:42 PM
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John Williams Shadowstats gets quoted a lot by various financial writers. He quotes CPI the way it should be, by what we actually "consume." By his calculations CPI is a little over 15%.

Here is a quote from his 2/20 update: "Bureau of Labor Statistics Reveals It Cannot Measure the CPI Properly, At Present. FOMC Has Trouble Forecasting Inflation One Quarter Ahead,
Let Alone Two Years Ahead.

Despite Talk of “Tightening” in 2022 or 2023,
FOMC Is “Easing” Anew in Its Latest Actions"

http://www.shadowstats.com/

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Last edited by DannyB; 02/23/22 03:47 PM.
Re: Property Values Crazy. [Re: cabosandinh] #8538915 02/23/22 03:52 PM
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Originally Posted by cabosandinh
land and property still cheap in west texas

sell your house and move to Leuders


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Re: Property Values Crazy. [Re: Stub] #8538944 02/23/22 04:18 PM
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Yes, it would be absolutely terrible to have to live on the Clear fork of the Brazos River. (Leuders) roflmao

Shackleford County only produced like 3 dozen bucks over 180" this year.


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Re: Property Values Crazy. [Re: BigfootWallace] #8538974 02/23/22 04:56 PM
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Originally Posted by BigfootWallace
Shackleford County only produced like 3 dozen bucks over 180" this year.


I don't really think that's an import or deciding factor for buying real estate right now.


Originally Posted by Superduty
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.

Re: Property Values Crazy. [Re: BigfootWallace] #8538975 02/23/22 04:56 PM
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Originally Posted by BigfootWallace
Yes, it would be absolutely terrible to have to live on the Clear fork of the Brazos River. (Leuders) roflmao

Shackleford County only produced like 3 dozen bucks over 180" this year.


Yea Leuders looks like a real up and coming area, No Thanks I just googled earth the place looks like a ghost town.

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Re: Property Values Crazy. [Re: BigfootWallace] #8538981 02/23/22 05:03 PM
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Originally Posted by BigfootWallace
Yes, it would be absolutely terrible to have to live on the Clear fork of the Brazos River. (Leuders) roflmao

Shackleford County only produced like 3 dozen bucks over 180" this year.


Any of them killed on ranchettes?


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