Housing Prices Going Up???!!!???

[justjunie928]

Just trying to gauge the market everyone..... Is your area experiencing an increase in the housing market?  I live in the DFW area and was told by one agent over the weekend that housing prices are starting to go up by 2-3% per month.....

[tooleman694]

I am in the DFW area too, prices are climbing fast right now. The house I have a contract on to build has gone up over 20k in less then a year.

We also made a ton on our home and it sold fast. We sold in Frisco and moving to Prosper.

[justjunie928]

Yep, the house I was looking at in Sachse went up 12K in 4 months.... I was floored.  It took me over the FHA limit for this area and I won't be ready to buy for another 3 months.....   The price will be thru the ceiling by then

[indecison]

I have experienced the price increases as well. The house we are building in Wylie is 10K more expensive than it was when we first started looking at this builder 2 years ago. I hope this trend keeps going since we close in about 2 to 3 weeks. Would love to see equity in the house.

[tooleman694]

If you put in a contract to build you will be locked in to that price. if you are 3 months outs id contract now since it will take 6 - 7 months to build.

[Sunshine85]

I live in FL, and prices have definitely started creeping back up. I think our market hit its bottom at the end of last year. Things within my price range <$130k, that are in decent shape, go under contract within days. I've put two full price offers in on homes, and lost out both times, which tells me the accepted offers must have been more than the listing price. The builders have been increasing their prices as well, and some are no longer paying closing costs, as they were in the last few years.

[Anonymous]

I live in Utah...so not anywhere near you. But prices in our area have been going up for new construction. Existing homes have been fairly steady. I am so so glad we are under contract for our house and have our price locked. We were planning on having to wait another 3 - 6 months to buy and watching the prices go up has been very very stressful.

[webhopper]

The house that I purchased for 163k is now on zillow estimate at 224k based on comparable sales and listings in my neighborhood.

The duplex I purchased for 175k in 2008 is now worth 219k based on sales of duplexes within a 1 mile radius of mine.

In Tilda area it never dropped. It didn't climb a lot but it never went down.

[LondonMassey]

I'm in Vegas and went under contract in March for a short sale. The house initially sold when built for close to 200k. I'm contracted at 55k. Since going under contract, the appraisal last month came in at 60k and now same builds in the same community are on the market for 75k. I'm supposed to close in 7 days... right now I am clear to close for the loan but the assistance program I am using for closing costs is fighting with my LO over an $850 administration fee. If they don't work it out, I'll lose the house... and can't afford to get another one.

[Sunshine85]

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@LondonMassey wrote:
I'm in Vegas and went under contract in March for a short sale. The house initially sold when built for close to 200k. I'm contracted at 55k. Since going under contract, the appraisal last month came in at 60k and now same builds in the same community are on the market for 75k. I'm supposed to close in 7 days... right now I am clear to close for the loan but the assistance program I am using for closing costs is fighting with my LO over an $850 administration fee. If they don't work it out, I'll lose the house... and can't afford to get another one.

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Oh no! I hope they get it worked out. I've been following your story and you've waited so patiently. Would you be able to pay the fee as part of your closing costs if needed?