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Depends on how long you’re willing to wait. I bet it starts cooling off in the next 6 months to a year. I mean you know that house won’t increase in value for several years after you buy it if you go for it now.
Agree. Think it would take a full on recession and then may not be interested in buying anyway.
Just bought in Lake Highlands and we were a back up offer to an offer that fell through…for not a penny over list. Lake Highlands is a better value if you’re willing to be five more minutes away. And Richardson ISD if you have or are planning to have kids.
I think the above comments might make sense somewhere like Plano or Frisco where supply is continuing to be added (if not there specifically, then in substitutable suburbs further north) and demand is going to ebb and flow based on the economy.
Lakewood is and will always be a highly desirable area that’s supply constrained - no meaningful new construction can or will ever happen there. I own in the M Streets (similar supply / demand conditions as Lakewood) and thought I was buying at a high in late 2019, my Zillow house value is up 20%+ since then.
I say buy now.
This is the correct analysis.
I’m in same boat as you
Ditto
Same same
If you guys don’t buy, where are you going to rent?
Looks in to Argyle or Mansfield .. they are the new Frisco
C1: in the context of Sherman being a town comment .. it is far from tiger things relavant .. in 5 years, argyle will be integrated into greater dfw metroplex .. Sherman will never be that
IMO, what we are in now for real estate is like artificial inflation. The supply is low because of lesser new projects last 1 year due to nonavailability of construction workforce or higher lumber cost. The demand is more due to free migration of people between the states or within the city due to WFH options. This will stabilize once lumber prices come down, new projects start and offices open up forcing people to come back to office!!
Well, there should be reasons for any product to have it’s value/price shoot up by 20-25% in just 6-8 months.
Pro
Thoughts on rowlett compared to Prosper, McKinney etc?
Very mediocre schools in Rowlett/Garland ISD. If that’s not a decision factor for you then it doesn’t matter, but I’d much sooner put my kid in Prosper schools over McKinney/Rowlett.