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Dallas House Prices

Dallas House Prices

Old May 23rd 2005, 8:33 pm
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Default Dallas House Prices

Was just doing a bit of research the other day to see where you can get the nicest houses in the US for the least amount of money and still probably find a decent job.

Thought we were doing fairly well in Florida, but then I happened to do some checking around Dallas - seems over there you can get a Hooooge mansion for not a lot of dosh in the suburbs! :scared: Things are bigger in Texas they say, not bloody wrong it seems!

Was just wondering if anyone in Dallas (or even elsewhere in Texas) could put a quick spin on the state of the economy and property market. We've visited Dallas a couple of times to visit friends etc and quite like the look of it from an outsiders point of view - what do those who live there think? No plans to move, but is somewhere we might consider in future.
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Old May 23rd 2005, 8:35 pm
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Default Re: Dallas House Prices

Originally Posted by Dan725
Was just doing a bit of research the other day to see where you can get the nicest houses in the US for the least amount of money and still probably find a decent job.

Thought we were doing fairly well in Florida, but then I happened to do some checking around Dallas - seems over there you can get a Hooooge mansion for not a lot of dosh in the suburbs! :scared: Things are bigger in Texas they say, not bloody wrong it seems!

Was just wondering if anyone in Dallas (or even elsewhere in Texas) could put a quick spin on the state of the economy and property market. We've visited Dallas a couple of times to visit friends etc and quite like the look of it from an outsiders point of view - what do those who live there think? No plans to move, but is somewhere we might consider in future.
just so long as you don't mind wearing the obligatory cowboy boots and a cowboy hat.
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Old May 23rd 2005, 8:37 pm
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Default Re: Dallas House Prices

Originally Posted by strim
just so long as you don't mind wearing the obligatory cowboy boots and a cowboy hat.
I'm sure I could live with some severe creases in my jeans as well, at those prices
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Old May 23rd 2005, 8:53 pm
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Default Re: Dallas House Prices

Have you looked at cost-of-living comparisons between the two cities (Tampa and Dallas)? I have heard that Florida real estate is astromically inflated atm so it might not be a bad idea to sell while the getting's good.

Is your job available in Dallas (assuming you have to work)? The summers are hot but a bit drier. Winters can be significantly colder than in FL though by no means "cold." It will routinely freeze in winter but only 20-30 F usually, and average snowfall per year is like 3".

Yes, if you are willing to live in suburbia you can buy a pretty big house, but you may also have a substantial commute.
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Old May 23rd 2005, 8:58 pm
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Default Re: Dallas House Prices

We are being advised by several independent people to hold fire on purchasing a house round these here parts for maybe another 2 years as there is a definite bubble in the prices which should deflate slightly soon. Of course that could be bollox and prices double again in then next 2 years in which case I shall be huntin' the aformentioned 'advisers' down.
 
Old May 23rd 2005, 9:00 pm
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Default Re: Dallas House Prices

Originally Posted by ImHere
We are being advised by several independent people to hold fire on purchasing a house round these here parts for maybe another 2 years as there is a definite bubble in the prices which should deflate slightly soon. Of course that could be bollox and prices double again in then next 2 years in which case I shall be huntin' the aformentioned 'advisers' down.
I have heard that there would be a "correction" in the Florida market, but of course, if everyone knew the future we'd all be sitting pretty but bored
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Old May 23rd 2005, 9:09 pm
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Default Re: Dallas House Prices

Originally Posted by Dan725
Was just doing a bit of research the other day to see where you can get the nicest houses in the US for the least amount of money and still probably find a decent job.

Thought we were doing fairly well in Florida, but then I happened to do some checking around Dallas - seems over there you can get a Hooooge mansion for not a lot of dosh in the suburbs! :scared: Things are bigger in Texas they say, not bloody wrong it seems!

Was just wondering if anyone in Dallas (or even elsewhere in Texas) could put a quick spin on the state of the economy and property market. We've visited Dallas a couple of times to visit friends etc and quite like the look of it from an outsiders point of view - what do those who live there think? No plans to move, but is somewhere we might consider in future.
Hooooge mansion = Hooooge property tax
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Old May 23rd 2005, 9:10 pm
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Default Re: Dallas House Prices

Originally Posted by snowbunny
I have heard that there would be a "correction" in the Florida market, but of course, if everyone knew the future we'd all be sitting pretty but bored
They were expecting a correction in the London market too a few years back, now look at it.
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Old May 23rd 2005, 9:14 pm
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Default Re: Dallas House Prices

Originally Posted by ImHere
We are being advised by several independent people to hold fire on purchasing a house round these here parts for maybe another 2 years as there is a definite bubble in the prices which should deflate slightly soon. Of course that could be bollox and prices double again in then next 2 years in which case I shall be huntin' the aformentioned 'advisers' down.

There has been speculation for the last few years round NY that the bubble is about to burst, but prices keep going up. There is bound to be a levelling/sligh deflation at some point. Chances are this will follow an interest hike rise, so unless you are a cash buyer or don't plan living there long it will be a wash as the lower prices will be offset by the higher interest rates on your mortgage.

I would go for it -- buy a nice ranch and maybe a small herd of cattle
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Old May 23rd 2005, 9:14 pm
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Default Re: Dallas House Prices

Originally Posted by snowbunny
Have you looked at cost-of-living comparisons between the two cities (Tampa and Dallas)? I have heard that Florida real estate is astromically inflated atm so it might not be a bad idea to sell while the getting's good.

Is your job available in Dallas (assuming you have to work)? The summers are hot but a bit drier. Winters can be significantly colder than in FL though by no means "cold." It will routinely freeze in winter but only 20-30 F usually, and average snowfall per year is like 3".

Yes, if you are willing to live in suburbia you can buy a pretty big house, but you may also have a substantial commute.
Its not even a plan at this stage, no chance we'd sell or move right now (just bought a place) - I was just astounded by the prices in the Dallas 'burbs - all looks good. Lengthy commute order of the day in Florida, a fact of life for a lot of folks in the good ol USA (and UK for that matter) no worries there.

Salary comparison says we'd need to make way less in Texas (jobs would be available) - what I would suspect given the prices.

Florida properties are certainly on the march big time, but as far as I can ascertain there is no sign of a slowdown. Chances are it could well end up like the UK, it's going up at the same rate seemingly. I was wondering if it'd been rising steeply in Texas too. You still get very good value for money in Florida compared with the likes of the NE coast and CA.

Imhere - tough position there, damned if you do damned if you dont aren't you. All depends on your situation I suppose, we've been on the property ladder either side of the atlantic for a while so no brainer for us to buy.
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Old May 23rd 2005, 9:18 pm
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Default Re: Dallas House Prices

Originally Posted by vegas
Hooooge mansion = Hooooge property tax
Very true But Hoooooge mansion at low prices plus big tax is better than hooooge mansion at Mansion prices and big tax!
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Old May 24th 2005, 1:51 am
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Default Re: Dallas House Prices

Originally Posted by Dan725
Was just doing a bit of research the other day to see where you can get the nicest houses in the US for the least amount of money and still probably find a decent job.

Thought we were doing fairly well in Florida, but then I happened to do some checking around Dallas - seems over there you can get a Hooooge mansion for not a lot of dosh in the suburbs! :scared: Things are bigger in Texas they say, not bloody wrong it seems!

Was just wondering if anyone in Dallas (or even elsewhere in Texas) could put a quick spin on the state of the economy and property market. We've visited Dallas a couple of times to visit friends etc and quite like the look of it from an outsiders point of view - what do those who live there think? No plans to move, but is somewhere we might consider in future.
We've been living in the Dallas suburbs for two years now, and bought our home just over a year ago, and I must say I love it.

The price of living is low in Dallas compared to most places I could work (I'm a semiconductor engineer) and yet the salaries in my field are about on a par with places like San Jose, CA or Phoenix, AZ.

A nicely built (by American standards) 1990s home of 3,000-4,000sq.ft (!!) with a pool will start at around $250k in a "nice" area, although like anywhere in the US you can pay much more for a custom home in a posh neighbourhood.

Property tax is high, but no higher than CA. We pay around 2.3% of the rated value of our home.

House prices have not been increasing much, if at all, over the last 5 years around here. Our home, on the edge of a park within walking distance of an elementary and middle school has increased by only around 10% since it was built, and this year the appraisal increased by less than 2%, so there's definitely not a bubble going on in our little corner of Plano!

Snowbunny doesn't like Dallas and its suburbs, and I would probably feel the same if I lived in Austin, but if you can live without the attractions of a "real" city (i.e. nightlife, museums, art galleries or any real "culture") then it's not too bad around here. If you have kids it's very good indeed (the Plano schools are excellent and rank very high nationally) with plenty of activities.

Finally, I would add that we've met a really great bunch of people living here. Brits are everywhere, and we have a closer group of Brit friends than we had back in the UK! The "real" locals are also very nice, if you can dodge the bible-bashers.

All-in-all, we're very happy here, and would recommend it to anyone.
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Old May 24th 2005, 4:03 am
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Default Re: Dallas House Prices

Originally Posted by snowbunny
Have you looked at cost-of-living comparisons between the two cities (Tampa and Dallas)? I have heard that Florida real estate is astromically inflated atm so it might not be a bad idea to sell while the getting's good.
Only some cities in FL are overvalued, namely Miami, West Palm, Boca Raton, Sarasota... and appreciation in homes there have already slowed (although not forecast for prices to fall). E.G. property in Sarasota only went up 24% last year, whereas in neighbouring Bradenton/Ellenton, property went up 34%. Sara has been overvalued for a few years and other places are just catching up (which is why we moved out of Sara to Ellenton 21/2 years ago ) Tampa is approx 1% undervalued, so not inflated at all. It very much depends on where you live in FL.
We live in one of FL's "hot spots" and are having a new house built at the mo and keeping this house to rent out- we've been told by many professionals that the boom is definitely not over yet, most we've spoken with reckon another 2-3 years, then prices will stagnate for a while. Our house has almost doubled in value in 21/2 years.
'I'm here'- how much are you going to spend on rent in the two years you've been told to wait before buying- gotta weigh it all up, I suppose. One property appraiser told me that, historically when bubbles burst in the US house prices tend to stagnate rather than fall drastically- and there's always going to be a demand for property in Florida and Arizona.
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Old May 24th 2005, 4:03 am
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Default Re: Dallas House Prices

Originally Posted by strim
just so long as you don't mind wearing the obligatory cowboy boots and a cowboy hat.
That's interesting. During my stays with the rellies in the Lone Star state, I don't remember seeing that many cowboy hats, and the few I did see were on Mexican heads.

Plenty of Cowboy boots though.....
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Old May 24th 2005, 4:36 am
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Default Re: Dallas House Prices

Originally Posted by Jabba1
That's interesting. During my stays with the rellies in the Lone Star state, I don't remember seeing that many cowboy hats, and the few I did see were on Mexican heads.

Plenty of Cowboy boots though.....
You didn't go to the rodeo then? Y'all can see plenty of cowboy hats there!

Actually, I often see non-Mexicans wearing cowboy hats when out driving pretty much anywhere away from Dallas. Even just heading over to Fort Worth they seem more popular.
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