Foreclosed homes in Dallas will be on the rise through the end of 2021 with a gradual decrease predicted for 2022. The Home Value Index for Dallas is currently $282,195 in a seller's market, meaning that housing prices will continue to increase, making it more challenging traditionally without breaking the bank. Competition with real estate investors, out of towners, and people willing to pay cash for the offer often put the average buyer out of the running. These factors all come together to make traditional home-buying unrealistic for current buyers' budgets. Because of this, many buyers have started to consider purchasing foreclosed homes in Dallas.
If you're in the market for a home, purchasing five years, home values in Dallas, Texas, have increased by over 57%, with an average increase of 21.5% year over year. On top of that, the number of active single-family homes listed for sale has decreased by 50.7% year over year. Not only is the market competitive, but there are fewer and fewer homes to choose from.
If you have been discouraged by the current housing marketing, you are not alone. That's why many people are considering purchasing a foreclosed home as a viable path to homeownership. In Dallas, TX, there are some fantastic foreclosed home options available. If you have been finding it difficult to find a home in your price range in Dallas while saving for a down payment, a foreclosed home could be just the option for you. Foreclosed homes offer the opportunity to get into a home at a reduced price (sometimes substantially reduced) in exchange for potentially needing to make repairs and otherwise fix up the home. Repairs may not always be necessary but it should be anticipated. Below are a variety of homes either in some type of foreclosure or pre-foreclosure status.
Discover and understand more about what you can expect for Dallas, TX in terms of weather, education levels, income levels and more to get a better feel for the city.
Foreclosures still have a stigma as many people think of foreclosed homes as homes nearly on the brink of collapse. Foreclosed homes are an excellent investment for people looking to purchase a home slightly under market value. Still, in modern times, many foreclosed homes result from homeowners having to default on their loans due to job loss or other financial issues. As a result of the layoff during the quarantine, many homes in perfect condition were foreclosed due to the owners' economic hardships.
With a foreclosed home, you'll want to consider the fact that you may do an inspection, but there won't be any price reductions or other compensation for work that may need to be done to the property. Many buyers looking to purchase a home have found a foreclosed home to fit their needs and budget.
Dallas has some excellent schools. The top 3 rated school districts in Dallas, TX are:
Dallas ISD's School of the Talented and Gifted is rated #1 among public high schools in the state of Texas.
Dallas is a thriving metropolis full of small, medium, and Fortune 500 companies. It's not only a great place to start a career, it's also an excellent place to level-up your career. Here are the top 10 employers in Dallas, TX:
You'll also find big names like IBM, Capital One, Citi, and PepsiCo.
Dallas is the 9th largest city in America and the 3rd largest in Texas.
Dallas is in the Central Time Zone.
Dallas does not get much snow, it has an average snow day of 1.3 days.
If you're not a fan of rainy days, then Dallas may be the place for you. Only 81 out of 365 days a year may be rainy.
With cultural tours, museums, fine dining, parks, shopping, sporting events, and more, Dallas has plenty to offer residents and visitors alike.
The Sixth Floor Museum at Dealey Plaza sits at the infamous intersection of Houston St. and Elm Street, where President John F. Kennedy was assassinated. This museum gives visitors both historical and cultural context from the early 60s to the tense hours following the assassination. History buffs and film fans alike will enjoy this walk through history.
The Dallas Arboretum and Botanical Garden boasts fourteen world-famous displays of seasonal flowers, trees, plant collections, and ornamental shrubs. For horticulturists, lovers of nature, and everyone else, there's something beautiful to see and do all year.
The Perot Museum of Nature and Science is an architectural masterpiece and an eco- and family-friendly place to explore topics like gaming, energy, evolution, earth science, engineering, and more.
The Reunion Tower in Dallas may not be the tallest building in the skyline, but it is the most recognizable. Initially completed in 1978, this 560-foot tall tower is punctuated by a giant, geodesic ball that, thanks to renovations in 2011, provides a 360-degree revolving tour of the city.
The Bishop Arts District is the place for shopping, entertainment, and dining. Here you find everything from art galleries and boutiques to over sixty independently owned and operated local businesses.
Dallas also has award-winning zoos, aquariums, flight museums, and other culturally significant places for everyone to visit.
The foreclosure rate in Dallas is about 0.1%. It's slowly moving downward and is lower than other big cities in Texas which have a foreclosure rate of around 3.7%.
Yes, Dallas is also a county. It's the second most populated county in the US. The city of Dallas is included in the Dallas-Fort Worth Arlington MSA which is composed of 12 counties: Collin, Dallas, Delta, Denton, Ellis, Hunt, Johnson, Kaufman, Parker, Rockwell, Tarrant, and Wise.
Yes. Dallas has a population of 1.4 million and Austin has a population of about 960,000.
The top five safe and affordable neighborhoods in Dallas, TX are listed as: the Bishop Arts District, Deep Ellum, Lake Highlands, Oak Lawn, and Preston Hollow.
The average overall walking score of neighborhoods in Dallas, TX is 2.32 which means it is less easy to walk to nearby businesses and points of interest. Since it is less easy to get around town in Dallas, TX a bike or car will be helpful.