I work in two great real estate markets. I get asked all the time what are the differences. They are apples and oranges in my opinion. Here is the best breakdown I can give you. I did some of my Misti calculations according to the MLS numbers I have access to, and the following is what I see for sellers and buyers. I started with what a regular person who is approved for an FHA no down payment bond programs of about $130,000. Now, let’s go find a house.
There are 4722 properties available in the DFW market on the MLS at 1:30 this afternoon under $130,000. Here is what I can sell you in Arlington for $130,000 in the DFW market. Or take a look at my listing in Plano.
5611 Sarasota Drive, Arlington , TX 76017
$83.12/ sq ft.
MUST SEE!! BEAUTIFUL, WELL-MAINTAINED HOME IN QUIET NEIGHBORHOOD. HIGHLY SOUGHT AFTER ARLINGTON SCHOOLS–MARTIN, MOORE, AND BOLES. LAMINATE FLOORING AND TILE THROUGHOUT–NO CARPET. UPDATED FIXTURES IN BOTH BATHROOMS. ROOMY KITCHEN WITH BREAKFAST BAR. COZY DINING ROOM THAT LOOKS OUT OVER THE BACKYARD. LARGE FAMILY ROOM WITH BUILT-IN LIGHTED BOOKSHELF. FULLY FENCED LARGE PRIVATE BACKYARD WITH PLENTY OF ROOM FOR THE KIDS OR GRAND-KIDS TO PLAY. This will go FHA financing.
Now, if you are a buyer in Austin, we have 226 properties available in the ATX market on the MLS at 1:30 this afternoon under $130,000. In areas surrounding Austin, this is what you can get. There is nothing in the city that is in this price range. There was one home that would go FHA in Georgetown, so I just selected the best one I see on the market.
6002 Turnstone CT
$136.6 0/ sq ft.
ABSOLUTELY NO CLOSING BEFORE AUGUST 1, 2015 – Amazing opportunity-fixer upper sold “AS-IS “with all faults” – NO DEDUCTIONS OR REPAIRS! — 3/1 w/converted garage. Price reflects the need for a complete makeover. Great margin for the investor, rehabber, flipper, owner occupant willing to take on a project. This will not qualify for FHA financing.
The following numbers are my research findings from the Austin Board of Realtors MLS and from the Metrotex Board of Realtors MLS at about 1:30 this afternoon (7/10/15).
- There are approximately 29,000 listings in the DFW MLS residential market at the current time.
- There are approximately 11,000 listings in the ATX MLS residential market at the current time.
- 4,722 properties available in the DFW market on the MLS at 1:30 this afternoon under $130,000.
- 226 properties available in the ATX market on the MLS at 1:30 this afternoon under $130,000.
- There are 954 homes between $400,000 – $500,000 in ATX at the same time.
- There are 2,397 homes between $400,000 -$500,000 in the DFW at the same time.
- There are 1,591 homes between $500,000 and $1,000,000 in the DFW at the same time.
- There are 3,777 homes between $500,000 and $1,000,000 in the ATX at the same time.
- There are 1,461 homes between $1,000,000 and $5,000,000 in the DFW area at the same time.
- There are 674 homes between $1,000,000 and $5,000,00 in the ATX area at the same time.
- There is one home in the ATX MLS for more than $20,000,000.
- There are four homes in the DFW MLS for more than $20,000,000.