Profile picture for allisa4757

Dallas seems to be have taken a severe downturn. What happened since early March?

I began looking in Lakewood in early  March and there was so much optimism.   I started the hunt again and nothing has moved.  And what is going on with the Turtle Creek High Rises?  Wow....I'm shocked.  So many foreclosures came through in mid March it seems.  I guess the best thing is to wait a few months and buy  the best address I can afford at a huge discount?

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May 24 2012 - Northeast Dallas
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My HOA is killing me so much I MADE A VIDEO ABOUT IT!  So the problem lies int he fact that there is no in between.  It's one extreme to another. 
http://www.hardcorecloser.com/the-hoa-can-kiss-my-h-o-ass-ryans-rants/
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May 28 2012
Profile picture for Dunes ..
Personally I think using Zillow Data and Forecasts is of far less value than has been suggested....
It ain't Rocket Science...keep an eye on what's going on with Sales/Prices just as you have been

What's the local Economy doing?..
Services (Police/Fire/Schools/Roads)
City Budget/County Budget/State Budget..cutbacks?
Job situation..Businesses (Failing?)

Just remember it's a Big decision with a lot of important decisions accompanying it..
Please remember it's your committment and your responsibility to prepare for it ...to make those decisions

A lot of Money is involved plus your future/your families future will absolutely be impacted one way or the other so give this decision & process the respect/time/effort it deserves

Best of Luck to you
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May 25 2012
Profile picture for Pasadenan
Just checked the local info pages; Zillow does have Zindex trends for Dallas now.

Dallas Local info trends

Here is the 1-year Zindex chart for Condos in the Northeast Dallas area:



Anyway, I don't notice any recent downturn, but there is about a 1 month delay on the index trends.

Here is the condo foreclosure chart for that area:



The saturation level is not rising, but is still way too high.

Anyway, it doesn't appear that one would get much better prices by waiting at this time.  Perhaps the Zillow forecast for 2012 might be helpful?



It indicates only an expected decline of 0.8% for Dallas for the entire year.  Certainly not an indication to wait.
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May 25 2012
Profile picture for Pasadenan
I haven't done any searches on Foreclosures recently, so I couldn't say.  But a lot of foreclosures that show up on this site are not foreclosures at all, but only 90 day late notices to advertise Foreclosure.com.

Still, the agreement the major banks reached regarding foreclosure process a few months back means that much of the foreclosure inventory that was being held back is slowly coming to the market now.  It will still be a while before all the foreclosure saturation is liquidated and percent of market that is foreclosures is back to normal.

As for market trends in Texas?  Since it is a non-disclosure State, it is much harder to track.  Zillow's estimates are being modeled to list price instead of sold price due to that issue.  And though they could be creating market indexes on the "local info pages" as they do for most other areas, they presently don't due to it being a non-disclosure State.

Anyway, anecdotal evidence is usually not a good indicator of actual market trends.  It probably deserves a bit more study.  If it were me, I would download many of the Zestimate trends for similar units in the same area, and would average them, to see if there actually is any trend, or only random estimate fluctuations.
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May 25 2012
Profile picture for Dunes ..
I'm glad to have been able to get to know you a bit better and hope we'll talk/debate here in the Jungles of Zillow again..

I know the name is odd..you have no idea how many times I asked my  parents World of War and Bringer of War why they couldn't just name me Bob


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May 25 2012

With a name like "Tug of War" you can't fault a girl for taking a defensive position, can you?  ;o)  I'm not looking for one either and thanks for the compliment.  I needed that after yesterday. 

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May 25 2012
Profile picture for Dunes ..
And I'm not looking for a fight ;) at least not about this..
I'm sure you're a good honest Agent but still think my opinion about this holds water, just as you feel you opinion does...

BTW..this is Zillow
It's easy to tell the difference.....less Spam and better looking Posters

;)


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May 24 2012

And I don't expect a consumer to buy a property based on what any agent says on Trulia.  My point is that consumers can and do benefit from professional advice from those actively working in the market - I always support my opinion of value to those I have client relationships with facts - the words "trust me" don't leave my mouth.  I back up what I say with facts, on paper and welcome discussion about them.  Each time, every time.

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May 24 2012
Profile picture for Dunes ..
My point is..

YOU may have actual knowledge but perhaps Consumers do not so it needs to be presented and supported..
RE Agents just saying something is so..I have knowledge of..trust me.. is not something I would expect many Consumers to buy into.

Many Agents have made Many claims the last few years about the Market/Markets that were less than knowledgeable or honest imo  (Good time to buy..at the bottom...multiple offers ect) and I think most Consumers would agree with me

No..
I do not agree that an RE Agent saying they have actual knowledge is good enough or a FACT when suggesting a Consumer should embark on a Huge Financial Obligation based on that claim..

Thatsa my opinion
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May 24 2012
"Good ones priced right sell almost immediately - many times with multiple offers, and many times over the asking price."

Interesting but a completely unsupported claim..suggestion of fact.

On the contrary I have actual knowledge of that fact and have recent experience supporting that statement.  So do my colleagues.  The only subjecture in my statement would be the determination of "good", which I agree, can be subjective, but in reality, along price points, most folks idea of "good" varies less than many would think.
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May 24 2012
Profile picture for Dunes ..
"Inventory is low and buyers are picky - that's why you see the same ones sitting"

Interesting take

"Good ones priced right sell almost immediately - many times with multiple offers, and many times over the asking price."

Interesting but a completely unsupported claim..suggestion of fact

"you do yourself a disservice without accurate knowledge and information"

I Agree

@allisa4757...
You seem to be becoming as informed as you can about the Market you are interested in..kudos & keep it up
Be informed..protect yourself..work to enable yourself to make wise decisions concerning a Huge Financial Commitment
KNOW YOUR MARKET
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May 24 2012
High rises in general will not turn around until lending improves for condos as a whole.  Has nothing to do with the those condos, the Turtle Creek area as a whole, or the Metroplex as a whole.  Inventory is low and buyers are picky - that's why you see the same ones sitting.  Good ones priced right sell almost immediately - many times with multiple offers, and many times over the asking price.  The Metroplex overall is moving and moving fast - wait at your own peril.  You need a good agent with market knowledge, not the online shopping sites - you do yourself a disservice without accurate knowledge and information.
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May 24 2012
 
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