Agent's Views About Current Dallas-Fort Worth Texas Income Property Market

I have been following the Dallas area market for over 5 years.  The DFW area real estate has also seen the result of the economy. Home and investment propety prices have fallen. The home values haven't fallen as much as many other areas.

Concerns

The high vacancy is largely due to unemployment.   The slow down in construction has affected the number of renters.   Texas is still is very disirable place to live and growth has continued at a slower pace.

I've previewed many listed properties.   The prices look so good and the potential for a cash return look so promising.   Everything looks good until I see the condition of the low-priced properties.    I have seen so many properties that are vandalized with missing appliances, missing A/C units, holes in walls and ceiling where all the copper plumbing and electrical wiring has been taken.    I see roofs that are long past needing replacement.   In defense of owners, many over paid, had tenants who are behind in their rents and were forced to let the property go back to the bank.     Not many buyers are interested or prepared to buy a property that needs extensive repairs.

Several of the lower priced properties listed in MLS are either foreclosures or short-sales.  The short-sale process has improved with many banks now using asset managers.   Not all banks have gone to a stream-lined  system and it can take months to close especially if there are two lien holders.     There is a focus now to help troubled home owners keep their homes with the loan modification programs that are more available.   Real estate agents are becoming more trained to work with the home owners to offer information and direct them to resources.

Positive Aspects

There are properties that are 100% occupied.   In my opinion now is a good time to buy with so many low priced properties, many choices and low interest rate.  

 

Use caution when buying.  Make sure you have seen the property and have a home inspection. 

Contact me if you would like additional information on one of the listed properties