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March Housing Update Across Texas

7,380 Views | 61 Replies | Last: 5 days ago by Red Pear Realty
Red Pear Realty
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In reply to MAS444 • 12:32p, 4/15/24
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AG
MAS444 said:
Understood. Great looking home on good street/block. The area sure does look different from when I moved there 20 years ago. Good luck with it!

Spec luxury development...SFHs?


Yes sir! The plan is to look for lots around town for the $1.5m+ market.
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Red Pear Realty
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In reply to MAS444 • 12:46p, 4/15/24
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You want to invest with me on them?
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Ezra Brooks
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In reply to Red Pear Realty • 12:47p, 4/15/24
AG
Red Pear Realty said:
We actually have a movie filming there this week, which is pretty fun. I'm trying to finagle that into an invite to the premier party, but we'll see how that goes.
I don't think porn shot in a rented Air BnB has a "premier party".
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Red Pear Realty
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In reply to Ezra Brooks • 1:06p, 4/15/24
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That's literally the first thought in my head every single time someone asks if they can shoot a film at one of my houses. Thankfully, this is not my first rodeo so I have ways of verifying that it's not that. Now the things that get left when people check out…that's another story.
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MAS444
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In reply to Red Pear Realty • 2:15p, 4/15/24
AG
Of course I'd be interested. Need to get this other deal done first though.
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Heineken-Ashi
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In reply to Red Pear Realty • 2:17p, 4/15/24
Red Pear Realty said:
That's literally the first thought in my head every single time someone asks if they can shoot a film at one of my houses. Thankfully, this is not my first rodeo so I have ways of verifying that it's not that. Now the things that get left when people check out…that's another story.
I hope you also made sure that Alec Baldwin wasn't involved.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX

“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
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AgsMyDude
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In reply to Ezra Brooks • 6:51p, 4/15/24
AG
Ezra Brooks said:
Red Pear Realty said:
We actually have a movie filming there this week, which is pretty fun. I'm trying to finagle that into an invite to the premier party, but we'll see how that goes.
I don't think porn shot in a rented Air BnB has a "premier party".


Maybe he can at least get an invite to the AVN Awards
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Red Pear Luke (BCS)
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8:35p, 4/15/24
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BCS Stats are up!
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CS78
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In reply to Red Pear Luke (BCS) • 9:51p, 4/15/24
"New Home builders are offering 4.99% interest rates with buy-downs to potential clients is tough to beat."

Do you know if they're offering similar to investor buyers?

I still have the new build I bought from stylecraft to live in 20 years ago. It's turned into one of my best rentals. I might not mind paying full price for something if it were new and came with a good loan.
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Red Pear Jack
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12:14a, 4/16/24
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NORTH TEXAS

Similar market sentiment to the above applies to DFW. Areas that are in high demand with turnkey product continue to get multiple offers and under contract within 3 days of listing.

My client list is currently 25% buyers / 75% sellers. I was able to get a house under contract for my Buyer client this past month at a fair value but did have to provide minor incentives in order for the seller to forego holding the listing through the open house/weekend. We were able to lock it down and not chance getting into a bidding war.

Overall in DFW, sales are down 7.0% while active listings are up 34.8%, causing inventory to increase to 3 months. Median price did increase 1.3%.















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jja79
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In reply to CS78 • 12:33a, 4/16/24
AG
If a builder's preferred lender is offering that rate check the pricing and financing closely. Neither builder nor lender is in business to give anything away. It's not 100% certain but typically incentives are baked into the price and/or financing.
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JMac03
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In reply to CS78 • 9:55a, 4/16/24
AG
CS78 said:
"New Home builders are offering 4.99% interest rates with buy-downs to potential clients is tough to beat."

Do you know if they're offering similar to investor buyers?

I still have the new build I bought from stylecraft to live in 20 years ago. It's turned into one of my best rentals. I might not mind paying full price for something if it were new and came with a good loan.
We did this in Oklahoma. Bought it purely as a rental, builder bought down interest rates. Even with a management company on those (we self-manage here), it is our best profiting property.
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Braxton.Sherrill
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In reply to CS78 • 10:38a, 4/16/24
AG
CS78 said:
"New Home builders are offering 4.99% interest rates with buy-downs to potential clients is tough to beat."

Do you know if they're offering similar to investor buyers?

I still have the new build I bought from stylecraft to live in 20 years ago. It's turned into one of my best rentals. I might not mind paying full price for something if it were new and came with a good loan.
You would be limited to 2% IPC for investment. This does not effect the interest rate benefit if they are doing fwd commitments. Only items you would typically see on the closing disclosure would be limited by 2% IPC.

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ReloadAg
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In reply to Red Pear Luke (BCS) • 11:06a, 4/16/24
AG
Do you have a link to Jimbo's listing?
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Ducks4brkfast
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In reply to ReloadAg • 12:07p, 4/16/24
AG
5212 Ruddy Duck
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tlepoC
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In reply to Red Pear Jack • 10:30a, 4/17/24
AG
Are you red pear rep for DFW? If so, what's best contact info?
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Red Pear Jack
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In reply to tlepoC • 12:28p, 4/17/24
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I am! jack@myredpear.com is my email.
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Red Pear Felipe
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8:43a, 4/18/24
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Austin Rental Data

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warreng
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2:51p, 4/24/24
One thing we have seen in BCS, at least in our office and with allot of the other agents we speak to is that almost all of the listings are people that need to sell for some reason. Job Change, divorce, death, things like that. We are seeing almost no people selling because they want to upgrade. BCS is a little lucky because of the university and the growth of the community it helps off sets this at least somewhat but it also leads to the increase we have seen in months of inventory because most of the sellers are not buyers as well. I think this is a trend we will see continue for a while. The value is just not there for most people to sell a home they paid 350k for and have an interest rate under 3% when to get a significant upgrade they'd probably have to be in the 7-800k range and take on a rate close to 7%. With taxes in insurance that jump right now would probably cost you somewhere in the 3-4k range a month extra.
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Red Pear Realty
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In reply to warreng • 5:41p, 4/24/24
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I'm calling that the four D's of why people are selling right now:

1. Death
2. Divorce
3. Rickhead boss is making you move
4. Dumb kids need to go to a better school
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Lonestarandi
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In reply to Red Pear Realty • 8:26p, 4/24/24
AG
Maybe make that last one: Diligently seeking better opportunities for their children.
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AggieRob93
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9:21a, 4/25/24
AG
Has Bexar County no homes for sale? I mean, mine isn't, but a sample size of one is hardly a market snapshot.
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jja79
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10:19a, 4/25/24
AG
10 year Treasury is above 4.70% this morning. Hold on to your hats.
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evan_aggie
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In reply to Red Pear Felipe • 7:09p, 4/26/24
AG
How is sale to asking price factored in if there are multiple price drops?

I've seen houses listed for $2.6M to under contract at $1.9. Curious if it sale to ask is the final number or where they started.

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Red Pear Felipe
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In reply to evan_aggie • 10:29a, 4/29/24
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Very good question! I'm going to check with ABOR on this. When looking at the MLS page, there's actually an option that allows you to put "closing price/original listing price" and "closing price/listing price". I'm thinking that they are using the latter.
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Diggity
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11:51a, 4/29/24
AG
yeah, the typical convention is closing price/final list price
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Red Pear Realty
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In reply to Diggity • 1:58p, 4/29/24
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I'm positive the other MLS's is do it this way but not 100% on ABOR without looking.
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