Oh, BTW, many offers came in cash only. The one that requires a loan we will look at is a 70% down without financing contingencies. The agents who made the offering knows their business well.
Is it going to be hard to make a decision?
Just today I read on a real estate blog that there are predictions that house prices in DFW will go up due to the influx of transplants from California, “who are used to making over-asking price offers.”
The problem of housing market in TX is that there is too much land vacant to build on, except a few exclusive areas, old houses for resale is competing with new houses which comes features that the old one’s did not have. My buddy lived in Dallas for thirty years told me the home price is just flat.
The prices in Palo Alto are amazing.
You can probably buy a pretty nice place in DFW for a fraction of this. I don’t know anybody that is selling and moving to DFW, but there are a lot of people I don’t know. 
http://finance.yahoo.com/video/big-bucks-small-homes-silicon-160100729.html
A year or so ago, the inventory was low all over-new, old, anything. Prices were very high all over the metroplex. It does seem that things have calmed down.
We’ve seen houses in our old neighborhood sell recently for what we paid for a house there 15+ years ago. The houses and lot sizes are comparable to our old house, and range from 8 to 18 years old, but the recent sales have less carpet and more hardwood, granite counters instead of Corian, and professionally finished basements vs. a DIY-finished basement. New construction houses in the same neighborhood, or in one next to it, are going for about 10% - 20% more even though they tend to be 10% - 15% smaller. In that neighborhood, I think that painting in popular shades of grey, replacing light fixtures and staging with more contemporary furniture would help the resales compete.
Silpat, can you name a city or a county? Trying to get some idea which area you are talking about. 
There’s been an enormous influx of California film people in New Orleans in the past few years due to the growing film industry here. It must be like picking candy for them!
The house across the street was sold. Small (1800) sq ft…plus a weird tie in over the garage. A real tear down…went with my contractor. He saw the foundation was shot and showed me why. It went 350.000 over asking. Wow…
artloversplus, the whole SV housing thing makes me discouraged for my S1 and DIL. They both have great jobs, like CA, but paying seven figures for a small house that needs work is just beyond reason. They are both intensely practical and have been saving madly for a down payment (they still live like poor undergrads), but will never go into that much debt. It would tie them to two FT jobs while being house poor to boot.
cd
your S1 may want to buy a condo. At least it is more reasonable.
East Bay is on the rise. Alibaba is moving to Hayward…
Renting is cheaper than buying for them at this stage. A friend of theirs lives in Hayward – she likes it, but the bridge can be brutal.
Yes I just pass the bridge today… I know what is like. You need get up earlly
@dstark: we’re in the deep South.
In the SV of Bay Area, Renting is ALWAYS cheaper than buying, but its for the appreciation.
Since I live in the Bay Area and have 2 kids living in Manhattan, I am just numb to high prices. My H and my kids work in jobs that demand long hours, so a long commute is off the table and to be able to live close to work, you pay a high price.
My D and her H are still saving for their down payment in Manhattan despite having high incomes for 6 years after grad schools…because the coop prices are rising so much faster than their income.
Manhattan is a town where it has 70% renters.
In my part of Texas, things are still hopping thanks to Californians. I have friend renting from one who bought here “just in case” they move.
Ok, it is official. 228K over asking and 70% down. I signed on the dotted line with all siblings’ approval.
Very good!
When is the closing??