Dallas Is On The BRINK
Рет қаралды 10,001
5 ай бұрынIt's time to dive DEEP into the sister cities of Austin and Dallas. Newsweek reports Austin home prices dropped FASTER than anywhere else in the country - and yet we assume Dallas is IMMUNE? These cities are identical to each other in so many ways, yet one crashes and one doesn't? It is urgent we take a close look at the metrics and learn from what has already happened in Austin. Is DALLAS next?
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@oscarbran2101 5 ай бұрын
Love your honesty,❤ Wish all realtor be like you
@WendyPannell 5 ай бұрын
Always! If I’m up at night worrying about the market you guys are going to hear about it. 😂😴
@oscarbran2101 5 ай бұрын
@@WendyPannell Love all your videos
@WendyPannell 5 ай бұрын
Thank you so much!
@KareenWayvines 5 ай бұрын
I'm a Real Estate Broker in DFW. Builders are and have been actively hiding their inventory! Some top builders in Frisco, Prosper, and Celina are still delaying releasing lots for contract signing. I have two clients who already decided to skip the wait and rent for another year. My wife and I are still on the list for a larger home and we've decided we're going to decline to sign once that call comes arrives. In December, they said possibly January. Now, it's possibly February. It's a game and these builders only care about making money. It's that simple and very unfortunate for home buyers.
@Joce123 5 ай бұрын
Capitalism.
@WendyPannell 5 ай бұрын
It’s nice to meet you! It’s crazy to think they’re hiding inventory when there’s already so much out there.
@Linda-mv8oz Ай бұрын
Housing shortage is in the city of Dallas. Not many new homes at all, at least anywhere around me. Not much land to build on. All I ever see are tear downs and new homes going up. There are enclaves here and there with new homes but no huge developments. Most of the larger builds are on zero line lots, much more similar to townhomes.
@WendyPannell Ай бұрын
The inner cities are definitely landlocked. For plentiful new construction choices buyers either have to work from home or plan on a commute!
@elcipote1576 Ай бұрын
I’m about to close this Friday, the house is in Dallas, in cedar crest, it is a 1,100 sq, 3bd 2bt; I’ll be paying 250k, (mortgage) put 10% down, it is a renonavetd home I’m afraid I overpaid and this whole thing crashes!! What are your thoughts
@WendyPannell Ай бұрын
I'd have to know a lot more before I could give you a market opinion. Did you use a Realtor in the sale? If so they should have provided you with a solid market analysis so you could feel good about your decision! It's not too late though, you can still request one!
@josierodriguez3305 4 ай бұрын
Hope you expand your analysis to national levels bc your video’s are amazing!
@WendyPannell 4 ай бұрын
Wow thanks! I’ve thought about it!
@Bryan-yq9pz 5 ай бұрын
Thanks for the information Wendy.
@WendyPannell 5 ай бұрын
Anytime! I hope it was helpful!
@yoloforeva 5 ай бұрын
You're worth every penny you earn in commission and more! God Bless you for sharing!!
@WendyPannell 5 ай бұрын
Thank you so much!
@Joce123 5 ай бұрын
Redfin advertises that they charge 1.5% commission.
@amanacatandhisdog8836 5 ай бұрын
Really great vid. I am in a less hot market. I guess it is still pretty warm but not like the bigger metros. I am in the Waco market.
@WendyPannell 5 ай бұрын
Nice! Waco has a lot of charm!
@jon5756 5 ай бұрын
Californians realized that Austin was basically California with worse weather… so they went back home and dumped houses. True story
@WendyPannell 5 ай бұрын
Wow! Interesting perspective!
@tyleranderson1955 4 ай бұрын
@@WendyPannellWendy I have a question about Dallas if you don’t mind? Specifically northwest Dallas. My fiance and I live in Arizona and she is born and raised in Dallas but I have a horrible fear of hornets/wasps especially with the kids playing in the backyard and I saw videos and forums about people saying that the areas there have HORRIBLE wasps/hornet problems, especially in the summer. She wants to move back home and I am HORRIFIED lol. Is this true? Not only are the kiddos always in the backyard, but I also go on 3-4 walks per day around the neighborhood since I work from home and I get back/neck issues if I don’t do my walks. Just a little worried about this
@WendyPannell 4 ай бұрын
@@tyleranderson1955 Great question! Most of the time when people ask me about insects it’s about mosquitos. Mosquitos are absolutely a huge reality here and constant nuisance. When I think of wasps and hornets I don’t see them as an overpowering problem. Sure, you’ll run into them from time to time, but they are nothing like what you’ll face with mosquitos.
@tyleranderson1955 4 ай бұрын
@@WendyPannell thank you so much Wendy! For some reason I was thinking that it was like I wouldn’t be able to walk around the neighborhood in the warmer months without having to fear hornets/wasps attacking me all the time or that the kids wouldn’t ever be able to play in the backyard in those months😂 I’m silly lol
@mwebb3014 4 ай бұрын
@@tyleranderson1955I lived in Dallas 30 years and raised three kids there. I never gave wasps/hornets a second thought. Spring brings out giant flies but they’re merely a nuisance not dangerous. Fire ants are the big issue. Maintain a 100% organic yard and you won’t have to deal with them. They only live in stressed environments. Biodiversity in organic soil naturally eradicates them. DFW offers a lot of great things for families to do.
@jamesosteen09 5 ай бұрын
I'm in Mesquite and man I need the pricing to come down in the Dallas suburbs. Sheesh.
@WendyPannell 5 ай бұрын
There’s quite the disconnect between home prices and affordability here! 😕
@jon5756 5 ай бұрын
Dallas is massive, great development in the outskirts and really nice home… but spending a lot of time in that area being from Houston, I notice that nobody lives there, in the outskirts of Houston it’s crowded and noticeably more people. Anyone else notice this??
@WendyPannell 5 ай бұрын
It depends on where you look! Many of the exurbs in Collin County are packed, whereas in the other counties, not so much!
@chrispure7461 5 ай бұрын
Thanks. Builders don't list in MLS to keep the prices high? Also don't they need to pay taxes if the homes are just sitting?
@WendyPannell 5 ай бұрын
They do list some homes in the mls but it’s just a fraction of their actual inventory.
@WendyPannell 5 ай бұрын
Yes they absolutely have to pay those taxes. Feb. 1 is when all the taxes are due. We’ve negotiated some fabulous deals this month with the tax bill looming.
@ericheus 5 ай бұрын
Builders have to pay to have their homes listed on MLS and it's an expense they are trying to avoid. It also takes time and effort, meaning money, to maintain and keep listings up to date.
@bpogula 5 ай бұрын
Tax on land only
@swethav99 5 ай бұрын
Great video and details affordability is bad in Dallas 😮
@WendyPannell 5 ай бұрын
Very true!
@amynguy 5 ай бұрын
Austin prices went alot more up than dallas hence the drop, I think Dallas and Austin prices are now back to normal deviation, this is signaling a bottom for Austin prices .
@WendyPannell 5 ай бұрын
Time will tell I guess! Realtor.com is predicting both to have sizable drops in 2024 but they have been wrong before!
@Gary65437 4 ай бұрын
You did an excellent report. Throw in a few stats for the way overcrowded, storm and flood zone of Houston. So far the cons outweigh the pros for me to move there or TX in general.
@WendyPannell 4 ай бұрын
Thanks! I’m glad it was helpful! Oh for the glory days when housing was affordable here…
@SIGNALFREQ 4 ай бұрын
Wall Street is parked in Dallas Real Estate…there is an investor home next to me in Grapevine and it’s been empty for a whole year 😢
@WendyPannell 4 ай бұрын
Wow 😳 Empty for a year!
@carolynl7998 5 ай бұрын
The real estate group that I follow still claims the severe lack of inventory in the suburbs of Dallas, where semiconductor chip plants will be built. That will create thousands of jobs and the demand for housings. When I listened to their presentation, everything sounded great and tempting. I had to repeatedly remind myself that I was listening to a sales pitch, LOL. I agree that we are heading into a recession towards the end of the year or early next year. Will it be shallow or deep is difficult to predict at this point. We all should go in with eyes wide open. FOMO will kill you at this juncture. Thank you for your analysis!
@WendyPannell 5 ай бұрын
You’re welcome and that is excellent insight!
@christianhill3244 5 ай бұрын
With how diverse Dallas is and what will probably be an increase of tax revenues, public services will improve, Dallas wont get too hot and remain resilient. Just check out how many different companies are hq in Dallas Its like a hedge fund!
@WendyPannell 5 ай бұрын
Dallas is definitely a corporate hub but what throws me is Austin has lots of huge companies too.
@MartinD9999 5 ай бұрын
Wait, I thought Dallas and Ft. Worth were the Sister Cities… 🤔 Well, anyway, back to the video 🎥
@WendyPannell 5 ай бұрын
Interesting question! I looked it up and didn’t find a specific designation. My point in the video was that the two cities have a lot in common.
@henryhandesign 5 ай бұрын
That's what I'm concerned too, but why are builders to keep building if they anticipate losses for themselves?
@WendyPannell 5 ай бұрын
That’s a great question we all need answers to. Did you know when Austin was in the middle of prices plummeting they never had more than a few months supply? The whole months supply metric is based on incomplete data and yet everyone uses it to say we have a housing shortage.
@JasonAldeann-bt4xf 5 ай бұрын
They have to finish the homes they started to get them OFF their books and let someone else hold the bag.. usually the bank
@WendyPannell 5 ай бұрын
@@JasonAldeann-bt4xf They definitely have a lot of exposure.
@shravyareddy6741 4 ай бұрын
There is a house in little elm 3400 sqft house for 685k is it overpriced you think it is over priced its 15mins from fields frisco
@WendyPannell 4 ай бұрын
Hi there! Can you send me the details using this link? I’d be happy to look that up for you! I can tell you this: Little Elm is one of only three C-rated school districts in the DFW area (Texas Education Agency). School ratings have a great impact in demand. www.myontrackrealty.com/youtube
@Linda-mv8oz Ай бұрын
@@WendyPannell seems to me most school districts in the city of Dallas are mediocre at best. Quite a few private schools, though. But this seems an urban problem everywhere.
@torresfca 5 ай бұрын
It is probably 3x more
@WendyPannell 5 ай бұрын
Austin definitely went way too high and we're seeing it come right back down!
@seanwilliamrussell 5 ай бұрын
Interest rate increases disproportionately affect tech jobs but it will be interesting to see what the Airbnb ban does to Dallas inventory
@WendyPannell 5 ай бұрын
Interesting! A large amount of our buyers are in the tech industry and we’ve had a few now that have been impacted by layoffs.
@paulconner4614 5 ай бұрын
It's already having an effect on apartment rents. Out of curiosity I checked the rents for a complex in far North Dallas where I lived in 2017. The rent was only $100 higher. You can rent a 2 bedroom there for $1400 a month. This is before the AirBnb even had a chance to take effect, so it will probably go down more.
@jeffersonjohns6397 5 ай бұрын
Countless individuals, from many of America’s progressive states and/or cities, went to Austin expecting a beautiful, progressive city. However, Dallas is compromised of countless conservatives. Overall, with Texas being overly conservative, it became a problem for progressives living in Austin. Living in Austin was analogous to living on an island. Whereas conservative Dallas residents continued feeling right at home within a conservative state. The newness of Austin quickly waned due to incredibly conservative state laws, policies & procedures.
@WendyPannell 5 ай бұрын
That is an interesting perspective I hadn’t considered!
@jeffersonjohns6397 5 ай бұрын
@@WendyPannell As someone who lives in FL and works throughout the Northeast, it’s the same story that we’re continuously hearing over and over. I also have male, female, young and older friends now back in CA. They’ve shared the same feelings with me. Just something to consider….
@MartinD9999 5 ай бұрын
You *KNOW* people that have actually MOVED BACK to California?! What da….. who does that?! Psshh….i haven’t been back to live in CA since 2005.
@jeffersonjohns6397 5 ай бұрын
@@MartinD9999 You’re one of the more sensible ones.
@CroisMoi 11 күн бұрын
I have lived in Dallas since 1987 and moved to Austin in 1997 for school for a few years. In my last visit to Austin, I see that it has been paved over by highways. It is like a mini Dallas now. Austin is a bit backward, compared to Dallas, and I left there in 1999. Customer service was lacking and people were not professional in a variety of business. Just rude also.
@adambounk6592 4 ай бұрын
2400 sqft home for 360k northwesr isd do you think its a fair deal?
@WendyPannell 4 ай бұрын
Who is the builder and where is the subdivision? Northwest Isd is your better school district in that area (west).
@adambounk6592 4 ай бұрын
it’s in haslet 76052 . Centex homes northwest isd.
@WendyPannell 4 ай бұрын
@@adambounk6592 Send me the details through our Questionnaire and we can discuss! www.myontrackrealty.com/youtube
@RBS.2 5 ай бұрын
We are from Brasil 🇧🇷 Estamos te acompanhando.
@WendyPannell 5 ай бұрын
Welcome aboard! I’m glad to hear it!
@far1762 5 ай бұрын
Nu arata bine, sory😮
@WendyPannell 5 ай бұрын
True enough!
@kwannp6141 3 ай бұрын
Wendi, hello... What's the best way to contact you? Does email work?
@WendyPannell 3 ай бұрын
Hello hello Kwann! Would the Let’s Find Home Questionnaire work for you? That’s definitely our best first step. Here’s the link: www.myontrackrealty.com/youtube
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