Dallas Real Estate: In Case You Are Wondering…
Why our market seems to be in the doldrums, check out this editorial by Peggy Noonan. All the grown ups are gone. She details a national malaise that is the basic reason why people aren’t buying and selling (real estate or anything) in this country. One agent told me he has a client who wants to buy a home in Dallas but has to wait first for her home in Chicago to sell, and it ain’t moving. A woman in my Real Estate class last week told me she has a home in suburban Chicago that costs her $4000 a month, she’s got a tenant in there paying $1800. Our market is the high spot in the nation, and would be so much better if transplants who want to buy here could. People come here from Detroit and think they can buy a house for 20 cents on the dollar.
And that, dear readers, is how the national real estate malaise hurts us.
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How’s that hope and change working out for you?
Anti-depressants might be better!
why the hell does anyone pay attention to peggy noonan anymore? it’s like paying attention to cokie roberts. their “opinions” haven’t mattered since 1987.
Candy, this story could almost be about me. I am trying to sell a lakefront condo in Chicago as we speak as I have just relocated back to Big D. Offer came over the weekend (the first since listing it in August 2008) for $50K below the asking price (parking is an add’l $35K and they expect parking in the current offer price).
At the end of the day, if I am lucky enough to get it sold, and it’s a beautiful unit, I will see my entire $60K in equity vanish.
It’s heart-breaking. At least I view being back in Big D as a positive thing and worth taking the hit.