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I actually just listened to a news story this morning about rising housing prices. According to the story housing prices have gone up over 3% nationwide. They mentioned my area specifically and housing prices have gone up over 9% here.
I actually just had an offer accepted last Thursday for $10K over the list price. It went on the market Wednesday afternoon and had 4 offers by Thursday morning. My agent was told that my offer was higher by just dollars over the next offer.
That's the kind of market we are experiencing. Multiple offers on everything that is priced within market ....many offers going above list.
However, if the property needs lots of work (kitchens and roofs for example) the property sits. For some reason the banks expect the buyers to pay retail PLUS do the work!
It's very strange...we have a lack of inventory in nearly every price point...from low to high.
Oh, I really hate to hear this. I also live in the DFW area. Looking to buy in the Burleson area. I am not ready to jump yet, I need just a couple more months. I am pretty new to the area, so if anyone has any suggestions about what lender to use, I would appreciate it. FHA or USDA. Thanks.
Feels like many of us are just at the point within 3 to 4 months we will be fully in the market, but if prices continues to go up at the current pace, we will be knocked out of the market for the homes we've been looking at.... but we want prices to go up (after the 3 or 4 months) so we can get that equity......
Let me clarify my post...I'm in S Fl (not DFW).