Dallas Real Estate: Grand Prairie Is Smokin’, Everyone Else “Less Bad”
Case-Shiller tells us that Dallas home prices fell at the annual rate of 1.2 % between August ‘08 and August ‘09, which is a smidgen compared to the rest of the world — double digit declines almost everywhere. Only Dallas and Denver are edging closer to positive numbers, our decline at 1.2%, Denver’s 1.9%.
Then ZipRealty (Emeryville, CA) tossed out it’s third quarter report to find this quirk: Grand Prairie, Texas emerged as one of the top ten “hot” markets in the U.S., a hot market being one where accepted offers come in higher than list price. I had no idea this was happening in Grand Prairie. Further, Texas is a non-disclosure state so I am just baffled and have emailed the company for an explanation.
Help if you are from Grand Prairie — we need a clue!
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I believe it…a friend has a listing that has gone under contract in 14 days, and had 13 showings in that 2 week period. Those are blockbuster numbers considering this market.
This home is under $140k, very reasonable for anyone who has a job and can buy a home.
Candy, check with Monica at Highland Homes 214-288-2819. Upscale developments of quality volume builder homes in Mira Lagos & Grand Peninsula at the Grand Prairie/Mansfield border. 4000sf, 4 or 5 BR’s, formals, gameroom and a finished out media room – all for $300K range on bigger than Collin County postage stamp lots. Ck it out – there’s even decent restaurants, Home Depot, Super Target and a good school district – all the amenities!
We sold our home in GP about 7 years ago. In 7 days we had two offers. The one we accepted was more than the asking price. That was to compensate for us covering some of the closing costs for the buyer. Our realtor told us that homes in our part of the city (south of I-30 and north of I-20) moved quickly because they were still affordable for almost everyone and the neighborhoods were safe. We bought our house in 1995 for $72,000 and sold it in 2002 for $92,000. Our neighborhood had incredibly easy access to downtown Dallas. We moved out of GP because both of us changed jobs and ended up working in the northern burbs, which was not a fun commute from GP. Otherwise, we’d still be there. We found GP to be a decent, affordable, diverse, pleasant place to live.