The foreclosure market in North Dallas is still going down

It has been more than a year since my first post about north Dallas foreclosure market.  Look at the my watchlist today,the market does not recover at all, not even bottom yet.

My watchlist is limited to North Dallas (Allen, Plano, Frisico, Mckineey, some Dallas, Carrloton, Farmers Branch, ...)  one list is under 100k forclosed/short sale properties.  The other one is 100k to 150k.  I have been saying 100k is the sweet spot for 1k+ rent income

Last year, my watchlist was getting shorter around Nov. (partially due to $8k credit).  100k watchlist is below 10 properties for monthes I bought two houses during that time.  In the last few weeks, the 100k list is growing to 30+.  The property I bought in Allen last is about $73k.  It was a good deal (rent > 1k, and purchase price was about 70% of the market value.) Now more than 5 properties are listed at that price range (condition various).  Similar case for my 150k watchlist.

I do not have enough data to show the overall housing price.  But my watch list tells me that housing market in North Dallas is still going down, not bottom yet.  

It looks like the investors are slow down a lot comparing to last year.  On the other hand, I have more friends (Chinese) want to invest in rental house.  More new fresh investors are in the pipeline.  This would be a good news.  Those people I know are young professionals with stable income and a lot of cash.  They intends to offer the lower price and do not want to do much repair.

Draw you own conclusion.

所有跟帖： 

• thanks for the update. -sunskitehomes- ♂ (0 bytes) () 11/21/2010 postreply 07:26:38

• :-) good to see you. -planotx- ♂ (0 bytes) () 11/21/2010 postreply 09:57:19