Investment in Real Estate in Dallas area

[Ash Hoss]

What is the current DFW real estate market condition?

Someone told me my comment on another thread, should be posted independently, so here you go. MY OPINION?-> I have heard people say every December "the market is going back into 2008 levels" ... for the last 3 or 4 years ... due to normal winter slowdowns. Dallas is experiencing what I call the "boiling water effect". If you have a pan, water, and an open flame - put them together and you will have boiling water, It's that easy. Regarding the real estate market, the economy is super hot, housing is still relatively affordable and there are tons of jobs here...that equals a demand for housing. I'm doing rehabbing of investment deals & rentals 7-days a week, not even factoring in my wholesaling, and those houses "fly off the shelf". The market will not be 100% as hot as before with big & expensive homes, because interest rates are rising, property/local/state taxes are limited to a $10k deduction AND those homes are just pricey - so people cannot afford the $4500 payments as easily as they could afford the $3700 payments before (P&I, and T&I). But sub- $300k houses are hot hot hot, especially if you price your property right <that's super important>; don't set the market price unless you have the #1 product around [e.g. some rehabbers can do this]. And even bigger homes are doing well if you are smart about your pricing & rehab budget. The economy is hot & will remain so for years to come, so even if the real estate market does not grow as fast as before, don't expect a crash anytime soon. Loans are much higher quality today than they were years before, and the economy is hot. And as a note - do not be blind to unexpected things either - keep plenty of cash reserves, only use long-term debt (forget 6 month loans, unless you know what you are doing!!!), and don't overpay for stuff - and you can't lose. But for heaven's sake, don't be pessimistic & miss out on good opportunities - stay positive!