Dallas Doomsday According To Realtor.com

Рет қаралды 4,742

4 ай бұрын

Realtor.com is predicting an unprecedented downturn in volume and home prices in 2024 - but are they right? Are prices poised to plummet? Join me as I take a deep dive into their forecast and see if Dallas is indeed headed for an ugly future in 2024.
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Пікірлер: 31

@jamesosteen09 4 ай бұрын

It's so crazy....was shopping in a neightborhood in 2019 and decided to wait....houses we were looking at were high 300s ... same neighborhood, same houses are now mid 500s. Insane.

@WendyPannell 4 ай бұрын

It is indeed!

@logato7128 4 ай бұрын

People can’t afford 200,000 and the avg home is 400,000 plus. Out of touch google quarterbacks.

@WendyPannell 4 ай бұрын

Affordability is definitely an issue!

@jamesosteen09 4 ай бұрын

Let the prices fall! Sounds great to me!

@WendyPannell 4 ай бұрын

Yes! There’s never a bad time for prices to fall!

@lhamil6 4 ай бұрын

Affordable homes is the main issue! I can rent a brand new home cheaper than buying. The prices don’t make sense.

@WendyPannell 3 ай бұрын

That is true much of the time! It all depends on your down payment and whatever interest rate you can secure.

@lisamccoy6167 4 ай бұрын

How many of those people that relocated to the DFW area have bought homes? High home prices, high interest rates and high taxes something needs to change for a lot of people. I am waiting to see what will happen 🤞

@WendyPannell 4 ай бұрын

Great question! I can tell you many of the buyers who reach out to us have been renting for a year or so. So they don’t always buy initially but many buy eventually.

@mrt094 4 ай бұрын

I'll tell you for me personally relocated from NYC moved to DFW Early 2020 right before the pandemic. Being able to buy a house was one of the things that motivated the move since that was impossible for me in NYC Regret not buying a house earlier but I underestimated my ability to buy one at the time. I made a lot less money when I moved here, but should be closing a house at the beginning of March. I know people are of different opinion but I decided to bite the bullet despite high interest rates. I just feel the people who are waiting for a 2008 style crash are going to be disappointed and think housing prices will continue to go up. I think the price drop we saw from early 2022 to early 2023 is probably the biggest we will get unless interest rates continue to go up which I don't see that happening in 2024 and who knows what happens that may force interested rates to be lowered again.

@lisamccoy6167 4 ай бұрын

@@mrt094 congratulations on your new home. I am from NYC, and the property taxes here are pretty much the same as in Texas. But I would say you can get a bigger bang for your bucks in Texas

@WendyPannell 4 ай бұрын

@@mrt094 Agreed! I think seasonal price drops are the biggest advantage we need to take in Dallas. We haven't seen a sustained price drop otherwise.

@indraneelpatil9168 4 ай бұрын

Can you share the details of new community in Celina the one with 4000 units.

@torresfca 4 ай бұрын

Btw, i love that you show inventory from new construction as well

@WendyPannell 4 ай бұрын

I’m so glad to hear that! We were noticing many of our buyers show more interest in preowneds due to commute issues. I realized I wasn’t talking about preowneds nearly enough! 😑

@zeee-maggpaloma2802 3 ай бұрын

@@WendyPannell Wendy, I noticed that too. I own a pre-own and considering a new build.

@hanjunghyun1 2 ай бұрын

Addison, Dallas, farmer branch, etc. all going down a lot!! Already seeing price cuts and properties sitting on the market longer than ever before. I think we’ll see another 10% drop in values now that the interest rates are even higher than ever at 7.5%!!!

@WendyPannell 2 ай бұрын

It's hard to say! Dallas definitely is interest rate responsive so it'll be interesting to see how long rates stay above 7%!

@aleynagokce2694 4 ай бұрын

Problem is not mortgage rate IMO. It is way overpriced, low quality, cheaply built cardboard homes. People always can re mortgage when rates will drop, but you cant reverse what you paid.

@WendyPannell 4 ай бұрын

I’ve heard that expression several times, “ cardboard homes”. Time to do some research and make a video about it!

@dmavs4131 4 ай бұрын

Great video as always

@WendyPannell 4 ай бұрын

Thank you so much!

@daunique1n1 4 ай бұрын

Majority of people who moved to TX (Dallas and Austin esp.) in 2021-23, are the tech workers who has the provision to work remotely from everywhere in the US. They chose TX to buy homes to get out of their high tax and unsustainable housing markets likes of CA, AZ, NV, IL etc. No income tax was a cherry on the top. They have jobs from CA, taking CA salaries, living in comparably cheaper state, TX. If at all the back-to-office mandate is strictly enforced across the US, these highly paid workers would have to sell their TX homes to move back to thier "base", even it comes at a loss, draining TX housing market's demand. I don't know single person who took a TX job working remotely from a non-TX state. It's always the other way around. BTW, i'm one of those tech workers.

@WendyPannell 4 ай бұрын

We’ve definitely been seeing a lot of our buyers having to go back to the office. What an interesting thought though, that many of them are out of state. Wow! That really could affect the housing market.

@RedGottie 4 ай бұрын

Ask the dairy farmer when the best time to buy milk will be and he will tell you right now. This woman is wrong, she has been wrong and will continue to be wrong because she is selling you a view of the market that benefits her and her business. Not reality. Realistically, everything is connected. The real estate market does not exist in a vacuum. It is connected to the wider economy. Do you feel the economy is healthy? Simple questions. Cost to income ratio is the highest it’s ever been. Debt per person is the highest it’s ever been. Savings are the lowest they’ve ever been. The commercial real estate market is in a recession, right now. It’s collapsing. Why? Because business owners are struggling. When business owners struggle, workers get displaced. Workers without income cannot buy anything. What he have right now, is a market teetering on the edger of complete collapse. A FED struggling to prevent hyperinflation, that CANNOT lower rates. And a government pumping money into the economy to keep it from collapsing before the elections. Save your money, don’t make any large purchases, and thank me for saving you from financial ruin. Oh, and run away from people like this….

@WendyPannell 4 ай бұрын

Either you have me confused me with someone else or you have not actually watched my videos. You might start with this one: kzfaq.info/get/bejne/q6pllc59t9Xenp8.htmlsi=m7GhrzEn4qcxnit0