Texas Real Estate Market

[Mudslinger]

Some experts are saying the housing market is due and will crash. Time will tell!

[laredoarcher]

Welcome to the Hotel California!

[mooney_ag]

It's not just the out of staters. We are seeing more and more institutional money investing in real estate which are buying not one but multiples in zip codes. Driving prices up and keeping inventory low. As the baby boomers continue to age and exit I think this trend will continue and honestly looking at better returns.

[CTR0022]

Yall in the business, where do you think we are headed? $300 a Sqft?
More? What $sqft do we see the market flatten out?

[louieagarcia]

I recently started preliminary looking around. Why is it so rare to find a custom built 2000 +\- square foot house on a couple acres somewhere around Tomball. Like they don’t don’t exist. It’s bullcrap.

They do exist.....they’re just not for sale

[Rubberdown]

You can’t even build new in a nice neighborhood at less than 3500 square feet. We could do that but it seems quite excessive. The money isn’t the issue. I just don’t need a house that big.

[mooch]

Texas Real Estate Market

Txoutdoorsman’s post is spot on. TONS of people swarming in from out of state that still think texas real estate is cheap. You’d be surprised how many people are offering cash for million+ dollar homes, sight unseen, offering several hundred grand over asking, and still thinking they got a deal. It’s crazy how young some of the people are too.

The equity Texans are realizing is life changing…until they have to buy another house in this market. Most will have to spend a lot more to get a similar house and now have to pay a lot more in property taxes and insurance.


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[Kevin]

You can’t even build new in a nice neighborhood at less than 3500 square feet. We could do that but it seems quite excessive. The money isn’t the issue. I just don’t need a house that big.

Can you buy a few acres and have one built?

[toledo]

I've personally bought and sold around 60 houses over the last 20 years. Feel I'm a pretty good judge of markets.

My opinion, unless we see a worldwide financial crash (seems pretty possible in today's crazy world) we won't see prices stall any time soon.

Land prices up, materials up, influx of buyers, a ton of people have made a killing in the stock market in recent years and are flush with cash, consumers are accustomed to and feel like they deserve nice fancy things, etc.

Real world inflation combined with a real increase in regional demand. We're only part way through the ride.

[DFWPI]

https://www.wfaa.com/article/money/business/real-estate-housing-inventory-in-dallas-area-sinks-from-bad-to-worse-homes-getting-upwards-of-50-offers/287-b1f9f47e-a1f4-421d-85ad-384192eb68ce

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[Double R 2]

Makes you wonder how folks get around the appraisal part

I know some people understand this but not everyone. Say a house list for $500K and goes under contract for $650,000 and they signed an appraisal waiver. Say the appraisal comes in at $550,000. Since the purchaser signed an appraisal waiver, the borrower is on the hook for the extra 100K. Basically the borrower brings a 100K out of pocket to the closing table.

[dhall1414]

this is the BS we have to deal with when every other state can't get their chit together. everyone runs here to escape their BS and end up tracking it in and ruining the rug. i only hope enough of them understand why it's better here and vote accordingly

[Goldensammy]

My wife is in DFW helping a friend who is moving from Chicago look at houses. Offered on a 20 year old house yesterday in Southlake @ over $265/psf and it is not a small home.

We live in NW Harris County, Cypress,TX. We bought about 18 months ago. Houses on our street are up 30-35% since we bought.

Just downright stupid.

[PondPopper]

I have just shy of $200,000 in my 20 year old home, shop and 4.5 acres. Right now I could sell it for probably $600,000 or better but would never be able to replace it for that money.. Land and anything and everything to do with building a new home is through the roof.. A square of shingles is $110(Just the shingles).. My house was just re-roofed at $400 a square..
My wife has been a in real estate for 34 years and broker for over 20 and my daughter is an agent.. They cant keep listings. They sell in days and sometimes just hours. For insane money!!!
But look at he idiotic money folks are paying for new trucks and new boats.. The world has gone nuts...

[PondPopper]

I've personally bought and sold around 60 houses over the last 20 years. Feel I'm a pretty good judge of markets.

My opinion, unless we see a worldwide financial crash (seems pretty possible in today's crazy world) we won't see prices stall any time soon.

Land prices up, materials up, influx of buyers, a ton of people have made a killing in the stock market in recent years and are flush with cash, consumers are accustomed to and feel like they deserve nice fancy things, etc.

Real world inflation combined with a real increase in regional demand. We're only part way through the ride.

This^^^^My little town is predicted to double in population in 10-15 years. There is 9 subdivisions going in right now, most are just "spec homes", and they are being sold before they are even finished.. Its crazy to watch..