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Things I learned about Dallas real estate on my way to becoming a home owner

So… it’s been a little while since my last post.  The full time day job is keeping me busy, as is the burgeoning side business.  I figured that wasn’t providing me with nearly enough stress, so I decided to enter the Dallas real estate market.

I did eventually find a house, after roughly six months of looking (not all six months were spent in full-tilt-house-hunting mode, but a lot of it was).  I learned plenty along the way — and as a peace offering for my absence from you, readers, I’ll share what I’ve learned.

• It helps to have a good realtor.  My realtor, Stephanie, did a great job, despite the fact that I am indecisive, picky, inconsistent, and, all in all, probably the worst client ever.  To make a long story short, we looked at so many houses that if you calculated her commission into an hourly rate, she probably made about 38 cents per hour.  She did do a great job — and also does apartment locating.  Check her out at www.citilandapartments.com .
• No really, it helps to have a good realtor.  Besides Stephanie (who is, not coincidentally, married to one of my former roommates), I have other friends in the Dallas real estate business — and they also do great work.  You should also check out Rogers Healy at www.rogershealy.com (full disclosure: I designed the website) and John Angell at www.eastdallasliving.com .
• If they’re having an open house, it probably means it doesn’t need much work.  Which means I can’t afford it.
• There are a lot of investors looking for a flip out there.  Bargains are hard to come by.  If you wait a day to put in a bid on a bargain, you’re out of luck.
• I got into a lot of bidding wars with investors.  I always lost.
• Some people should not be allowed to purchase paint.  I’m talking to you, person who painted the living room orange.  And to you, person who painted the bedroom puke-green.
• Some people just don’t seem particularly interested in selling their house.  These people are hard to work with for showing and bidding.
• The more I like a house, the less likely it is I can afford it.
• Remember… you’re not just buying a house, you’re buying a location.  This isn’t always easy to remember when bidding more for a house that needs a lot of work than for a house that’s more move-in ready.
• People have trouble keeping their garages clean.

I probably have other observations, but they’ve melded into the vague memories of dozens of houses and buried under the mountain of stress that is home ownership.  But hey, at least the house hunt is done.  Until next time, of course.

Sat August 4th, 2007 10:37 pm

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