trentor

SpeedxRacer

I just purchased a home in Plano a month or two ago. You will have to go in above asking price in order to stand a chance. I felt like I was fortunate to make out at asking price for mine(adjustment for fixes after). You will need to be super aggressive and jump on the house you want ASAP within the first day it is listed.

StormTroopinAP2

MrKlean187

Just saw Liberty Mutual can be added to list of monster companies coming to NTX!! They estimate 3-4k people for this builiding! Contracts have been approved to come to Plano!

Wildncrazy

If Plano houses are going faster than they can go on the market that's a big change from last year. Plano's been dead. They've been a donut as the center older section has languished while the newer outer circle sold.

I showed houses to both of my kids there last year and we moved out to Preston & G Bush for one of my kids and Keller for the other.

If you have the luxury then just wait a short while. Houses are just now beginning to come on the market for the summer selling season which means there could be more buyers than houses in some neighborhoods right now. Once the houses begin coming on the market you see that madness stop.

Also you need to know that you have some sort of protection as a buyer. If the house doesn't appraise for the contract price then you can't get financing (unless you want to put up the difference in cash ON TOP OF ALL THE OTHER MONEY YOU'LL NEED) and you can back out of the contract.

Texas basically only slowed down during the Recession rather than going backwards like a lot of the country. Texas outperformed the rest of the country then and is still out performing them now. That makes your investment much safer here than say in Nevada or Florida or, well a lot of other places.

As a lender I get to see contracts that have actually been accepted instead of just hear the stories and it's still a rare thing to see a contract that the Seller's not paying a major portion of the Buyer's closing costs. As a matter of fact it is so standard that if we submit a loan that the Seller isn't paying any closing costs we need to get a note from all parties or the loan will be kicked back by the underwriters as "incomplete". They simply don't believe it and presume we've left something out.

I was at a mortgage convention a few weeks ago and one of the things we learned is not only is that practice the norm, but the frequency & the amounts the sellers are paying are actually increasing. Of course real estate is a local phenomenon and there have always been pockets or times of the year when things are turned upside down for a short while.

The thing I've learned in over 30 years in the business is to run from areas that don't meet the norms cause that means you're going to take it in the nethermost regions when it's time for you to sell and the market is back to normal.

Having moved away from that area about 7 years ago I can't imagine anyone willingly buying there when there's so much more to be had elsewhere, unless of course there's a very specific reason to pick it like job or family.

MrKlean187

^Do you not think if one were to buy in Plano in the next year or two and then sell in the next 5-7 years they would be able to turn a nice profit? Assuming all those big companies are here and operating.

Wildncrazy

You could do that in almost any area of the metroplex unless you were stupid about what you bought.

Food for thought, FW has grown this past year at rate that's over 10 times the rate of Dallas. And it's a much friendlier town with less traffic and a viable downtown area. FW has a very nice Trinity river with trails and shopping all along it and many more shopping areas to come this year.

The largest development to hit the whole metroplex in the past 30 years will begin construction on homes later this year. FW has been blocked from developing westward by 2 ranching families since the 1800s. Now both are developing their properties.

A swath from north of I30 all the way down past Benbrook is being developed. FW says the geographic center of FW will soon be Lake Worth.

The intersection of 30 & 20 will be a huge shopping center area with a new hospital and more.

buldozr

lol you couldn't pay me to live in Ft Worth. The last tornado that went through Ft Worth did $450M worth of improvements

Kenny_Stang

I feel the exact opposite, you couldn't pay me to live in Dallas. Maybe I am biased as I've lived in Fort Worth or its suburbs since I was 5, but Fort Worth has all of the positives of a large metropolitan city, with none of the drawbacks of Dallas (high crime, terrible traffic, horrible streets, etc). Tornadoes and their danger are a concern for anyone in North Texas, Dallas (or anywhere in the metroplex) is not any less susceptible to being impacted by a large tornado, so not sure why that would even weigh in on a decision as to which city to live in.

Jdrum1

I love Fort Worth!

There's some great things in and around Dallas, but for a place to live, Kenny is spot on.