FIGHT BACK Against Rising Home Prices in Dallas

[@DarkKnightBruce]

Thank you so much for these ideas! (1st time buyers, hopefully).

[@WendyPannell]

You’re welcome! I hope it was helpful!

[@qualitytouchpainter]

New construction tax base is going to have the best schools, it is part of the strategy to sell them.

[@WendyPannell]

That’s definitely true for a lot of them! Some of your most hurting areas right now are where mass construction has been built in areas without good schools. Not pretty. 😬

[@cetilly]

Loving your content; real intelligent analysis and well presented. Can you discuss flips? I’ve seen SO MANY flips in Houston and I haven’t been impressed by any of them because the work seems all cosmetic, and marginal quality, but yet prices are crazy high.

[@WendyPannell]

Ah, in the early 2000s we did flips constantly! There is so much I could say about what to look for, where an investor may have cut corners, how to do them and so on, but I really enjoy working with owner occupant buyers and don’t want to get into working with investment property. A video about flips might lead to that. 😕

[@mrt094]

As someone who bought a pre owned home in DFW for the exact reasons you mentioned I recommend looking for sellers who have owned the house for a good amount of time. I found the houses with those type of sellers were more reasonanbly priced. My thinking atleast is they have way more equity in the house and way more room to offer concessions. I bought my house from a group of siblings who inherited the house from their parents and they were willing to offer 10k towards closing cost. You arent going to get those concessions from someone who far less equity in the house or even worse house flippers.

[@WendyPannell]

Excellent insight! Thanks for sharing!

[@dmavs4131]

Those 4.5% rates that new home lenders offer is usually dependent on a 20% down payment which is harder to accomplish with these $450,000+ new homes and/or as a first time buyer.

[@WendyPannell]

That hasn’t been my experience (the 20% down) but I guess it depends on the area. Great insight!

[@dmavs4131]

@@WendyPannell yeah I found a new home with Brightland homes in Mesquite and here was the fine print: Rates listed are based on a 20% down payment for an owner-occupied property and assume the borrower has a minimum 720 FICO® credit score and a max 42% Debt-to-Income (DTI).

[@darrylloo4080]

450 grand can't buy you a fixer upper home in Honolu, Hawaii.

[@tellytellz5080]

I prefer a pre-owned home. I like much better built older homes which have lots of character, most likely no HOA and tend to be on larger lots. They can keep the newly cheap built homes with tiny yards and paying into an HOA for things I will never use.

[@WendyPannell]

It’s the mature trees for me!

[@steve101s5]

Gr8 video as usual… The low interest rate given by new homes builders is just an eye wash. They are already charging a lot of charges/fees during closing and indirectly buying out rate of interest from lender.

[@WendyPannell]

There’s a lot of truth to that. I always tell buyers overpaying isn’t just about the house, it’s about loan fees too!

[@bean6528]

Oh please, nobody should "capitalize" on home owners. Realtors are already being sued for just that. Builders are throwing houses up and making sure you can't inspect and giving a bad product. New homes are soon much more per square foot and expensive HOA that only increases. Bad realtors will always take advantage.

[@WendyPannell]

Thanks for the insight! This touches on the whole concept of buyer and seller representation. The buyer agent's job is to look for the best price they can for their buyer. It would be a bad Realtor who did nothing. For sure I want to be honest and fair with all parties but a big part of my job description is to be strategic and get the buyer the lowest price. Now if I was representing the seller in this situation it would be a completely different story. I would be preparing their home and the strategy of listing their home to gain the highest possible price for them as the sellers. And make no mistake - I am every bit as strategic with my sellers. It's important that Realtors not forget who they represent and that they proactively do their job.

[@Bryan-yq9pz]

WELL Said. @@WendyPannell

[@WendyPannell]

Thanks!

[@lisamccoy6167]

Nice

[@WendyPannell]

I hope it was helpful!