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Collin County housing market

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    #46
    Originally posted by RR 314 View Post
    Yes sir. Cash is king. Prices are going up so fast in the west Austin area that appraisals lag a month or so behind actual pricing. If you need to finance a 3-5 million dollar house you are in a bind. A high percentage of sales are without financing and if you do finance you better have 20% down plus 500k on top of that. Have never seen anything like it.
    It didn’t help me. I’m putting 35% down & property still was flagged on appraisal due to a 38% increase in 2 years. My loan amount is well below appraisal value
    Go figure

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      #47
      Originally posted by HogHunter34 View Post
      I don’t see how sellers getting offers well above market value gets around the appraisals

      People have cash to spend over and above what their lender will lend based on an appraisal

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        #48
        Originally posted by Throwin Darts View Post
        People have cash to spend over and above what their lender will lend based on an appraisal
        Yeah so am I & it didn’t matter per Fannie Mae appraisal protocol according to my lender. My appraisal was flagged as too much increase in 2 yr period even though I’m putting more than enough cash to be well below loan amount.

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          #49
          My wife is a real estate agent, buyers are like sharks in a feeding frenzy right now. Comps and appraisals don’t mean anything, they just buy!

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            #50
            Originally posted by Trapper76 View Post
            My wife is a real estate agent, buyers are like sharks in a feeding frenzy right now. Comps and appraisals don’t mean anything, they just buy!
            I hope so...….

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              #51
              Originally posted by grizzman View Post
              Live in Frisco. Got three unsolicited calls and texts last week about buying my house. Not interested is selling.
              I’ve been getting them too, I’m in Allen. I jack with em, I say 100k over what I know they are selling for in my neighborhood. Had a few get back with me saying they couldn’t pay that price.

              Hey, who knows, might work one of these days. Lol

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                #52
                Originally posted by Grayson View Post
                How's the housing market in Collinsville? How about raw land just outside city limits? This would be from the seller's perspective.
                Buddy in roll off business said DR Horton bought a bunch of land east of me and correctly named the guy that farms it. Roughly where tollway is going through. Was told they're buying a bunch and Jerry Jones just got 600 acres between gunter and tioga

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                  #53
                  I paid 160k for mine in 02, they are selling for upper 300k now. In Plano

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                    #54
                    Praise the Lord, we had an offer accepted on a house! God really was holding this one for us, checks every box we had and more! Looks like we’ll be making the short jump from McKinney to Anna at the end of June. Hoping to get our current house listed by may 19th

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                      #55
                      Originally posted by Throwin Darts View Post
                      People have cash to spend over and above what their lender will lend based on an appraisal
                      So where are all these people getting so much cash? It can't be as simple as Californians selling and moving here. Someone has to buy their home in Cali.

                      Just seems like during this pandemic where everyone is dying and unemployed it sure looks like millions of people all of a sudden have an extra 500k to 2million.

                      Prices and homes going nuts all across the entire country. Can't see these people having all this money 12-18 months ago...and just now wanting to spend it..

                      Any theories?

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                        #56
                        Originally posted by oneisnone View Post
                        Praise the Lord, we had an offer accepted on a house! God really was holding this one for us, checks every box we had and more! Looks like we’ll be making the short jump from McKinney to Anna at the end of June. Hoping to get our current house listed by may 19th
                        Nice, Congrats. It's super nice to know God wants you in a certain place.

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                          #57
                          Stupid market right now.

                          Glad I am not lookng to buy in this overpriced market. No way I could justify it

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                            #58
                            Well, we just finished our listing weekend. Friday-Sunday, 8am-8pm. Thankfully we found a VRBO for us and the dogs, because we had a total of 73 showings and 8 offers by 8pm this evening!

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                              #59
                              Lady we know in Celina sold hers and moved to gunter. Someone just knocked on the door and asked, said shoot us an offer and was $50k over what they figured they could sell for. Not a custom home but a little older tract home.

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