Collin County housing market

[BrianL]

I laugh at the people who sell because they can make so much money.

Keep in mind the cost to build is the highest its ever been, and this same sellers market makes it equally tough on the buyers market in terms of price/making money

Yes but for a single person principal residence capital gain is capped at $250K($500K married). It is better to sell and buy again at a higher cost and reset the capital gain than start paying 20% tax on gain.

Example

My buddy bought a new build 3 years ago in Star Trail at $545k, listed this month at $725k and sold for $805k to an out of state buyer that had gotten tired of missing out on deals. Waived appraisal and gave them a free lease back on top of it. Outrageous!

OP I’m in the industry and live in Prosper. I will keep my eyes open for resale.

[oneisnone]

My buddy bought a new build 3 years ago in Star Trail at $545k, listed this month at $725k and sold for $805k to an out of state buyer that had gotten tired of missing out on deals. Waived appraisal and gave them a free lease back on top of it. Outrageous!

OP I’m in the industry and live in Prosper. I will keep my eyes open for resale.

There is one we really wanted, but it was bought 10 months ago for $300k and they guy wouldn't budge from his $375k sale price. No way it appreciated that much, that fast, considering it was still an older home.

Yes but for a single person principal residence capital gain is capped at $250K($500K married). It is better to sell and buy again at a higher cost and reset the capital gain than start paying 20% tax on gain.

Example

Excellent point. We bought at $300k and will sell around $350, unless we get an offer from one of those buyers with more cash than patience.

[oneisnone]

Shameless plug, here is our current house that we hope to be listing by the end of May, depending on leaseback of our new house. If anyone is looking in the Mckinney area, feel free to PM me, would love to sell to a TBH'r without dealing with listings/showings

https://www.zillow.com/homedetails/4305-Rancho-Del-Norte-Trl-Mckinney-TX-75070/83735693_zpid/

[BrianL]

Shameless plug, here is our current house that we hope to be listing by the end of May, depending on leaseback of our new house. If anyone is looking in the Mckinney area, feel free to PM me, would love to sell to a TBH'r without dealing with listings/showings

https://www.zillow.com/homedetails/4...83735693_zpid/

I this market your are might be better off with a realtor, than trying to go at it alone, or at least find a discount broker to list on MLS.

[oneisnone]

I this market your are might be better off with a realtor, than trying to go at it alone, or at least find a discount broker to list on MLS.

We already have a realtor, just putting it out there for anyone that's looking to buy in the next 2 months

[whitetailtrail]

Best of luck. We are in Melissa and I track local sales pretty closely just out of curiosity and most are selling within the week. Not aware of any 1 acre plus properties for sale in our area as people appear to be holding on to those.

Not sure how far north you can go, but might check Van Alstyne area, still 20 mins or less to McKinney and it’s growing. More acreage up there and good schools, too.


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[oneisnone]

Best of luck. We are in Melissa and I track local sales pretty closely just out of curiosity and most are selling within the week. Not aware of any 1 acre plus properties for sale in our area as people appear to be holding on to those.

Not sure how far north you can go, but might check Van Alstyne area, still 20 mins or less to McKinney and it’s growing. More acreage up there and good schools, too.


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Melissa/Anna area is our first choice, but we are looking all the way up to Van Alstyne, and East to Blue Ridge/Trenton

[Throwin Darts]

My buddy bought a new build 3 years ago in Star Trail at $545k, listed this month at $725k and sold for $805k to an out of state buyer that had gotten tired of missing out on deals. Waived appraisal and gave them a free lease back on top of it. Outrageous!

OP I’m in the industry and live in Prosper. I will keep my eyes open for resale.

My neighbor bought a year ago for $750k and put in a pool and just sold their house for $1.1 million. I never thought they'd get it but I was proven wrong.

[Agdog]

My neighbor bought a year ago for $750k and put in a pool and just sold their house for $1.1 million. I never thought they'd get it but I was proven wrong.

Yup. Makes me want to sell mine but obviously there wouldn’t be anywhere for us to move to!

[jer_james]

Neighbors two houses down listed their house last year, and decided to stay another school year. That house sold in 2 days at a list price that was $60k more than it was listed last Summer.

[Adgerc15]

You should start watching for pre-foreclosure and distressed properties. Home prices continue to grow and inventory continues to dwindle so resale and new construction aren't likely to offer you much opportunity. However, economics are about to take hold of the over due and underperforming mortgagee. New year, new taxes and bills are due...no more moratorium.

ac

[TigerBob]

All this talk of increasing prices only makes me cringe at the property tax appraisals that are getting ready to come out.

[friscopaint]

I've got 30 acres, house, barns, 2 acre pond loaded with fish and wedding venue for $1.5 mil may need to go up in price

[BosqueTech]

I've got 30 acres, house, barns, 2 acre pond loaded with fish and wedding venue for $1.5 mil may need to go up in price

May I ask where?

[Jack12]

It’s all the Californians. Had the same thing happen to my aunt.