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[Bar-B-Lew]

The home of Casey Jones is located there.  In Memphis, there is a historical marker for the place where Casey Jones started his last ride.

[02ebz06]

I lived through 3 boom and bust cycles in LA and then Vegas.  My home in Vegas sold in 2005 in a bidding frenzy for $350,000. I bought it in early 2010 in a short sale for $150,000.  I can guarantee there are a lot of folks panicking and overpaying right now.  In a couple of years there will be bargains to be had.

Houses are are scarce here.  People are bidding over the asking price.
My friend who's a Realtor, said one house had 28 bids on it.

Dave, don't forget to check Real Estate taxes.
TX doesn't have a State Income Tax, so the make it up in Real Estate taxes.

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we past the Makers Mark distillery, would have liked to have stopped there.

I went through the distillery in 2003 I thing it was.  Still have the unopened bottle of bourbon I bought there.
Was pretty cool.

[Brushpopper]

Definitely check property taxes Dave.  Ours have almost doubled since we built our house in 2012.  It is from a school district bond election that passed a couple years ago that no one I know was for.  I see no reason for a high school to need a 3 million dollar turf football field and the teachers to not get paid a decent salary.

[dk117]

Real estate investor of 23 years here.  Just like the total cost of attendance at university is not the same as tuition (fees, travel, books, room, board), total cost of ownership is key.

We're still at a great point in time for interest rates, and frankly I think that's driving ... not an irrational exuberance in real estate, but simple inflation across the board. 

check taxes, check utilities, check maintenance, check HOA fees  (all these are potentially big in Texas).  (Price) Mortgage or cash financing is the easily definable piece of the equation.

DK

PS and since this will be your primary residence, finances aren't the most important thing.  If you are happy there, then go for it. 

[Kristin Meredith]

I lived through 3 boom and bust cycles in LA and then Vegas.  My home in Vegas sold in 2005 in a bidding frenzy for $350,000. I bought it in early 2010 in a short sale for $150,000.  I can guarantee there are a lot of folks panicking and overpaying right now.  In a couple of years there will be bargains to be had.

Houses are are scarce here.  People are bidding over the asking price.
My friend who's a Realtor, said one house had 28 bids on it.

But scarcity is cyclical also.  When I sold in 2014, I received 15 bids and took the one for $20,000 over asking. A few years later in Vegas, bidding wars were over because they started building again. I understand they are back. Always a cycle it seems.

[Bar-B-Lew]

One of the challenges now is that there is not as much building because cost of labor and supplies have increased dramatically.  Always an ebb and flow.  I do agree that interest rates are driving a lot of the sales because if you had a high rate previously you could have got a larger home for the same mortgage payment potentially.  I read some stat this week that I think it was over 1 million homes that needed to be built to provide enough inventory to start driving down prices on existing home sales.  That might take a while, and where will they be built?  One other thing driving this I think is people working from home.  It has enabled people to move away from where they work, challenged them to get a bigger home to have one or two home offices, etc.  People from large, expensive property cities are moving to suburbs hours away or even hundreds to thousands of miles away from their place of employment.

[Bentley]

With Texas Football.  Surprised it was not double that.

I see no reason for a high school to need a 3 million dollar turf football field and the teachers to not get paid a decent salary.

[Bar-B-Lew]

With Texas Football.  Surprised it was not double that.

I see no reason for a high school to need a 3 million dollar turf football field and the teachers to not get paid a decent salary.

My old high school is putting in a turf field.  The school has about 120 kids in the graduating class.  They have only won 3 or 4 games in total the last 3 years or so.  A local hospital is paying for it to obtain the naming rights and sponsorship.  School will funnel all athletes threw their hospital system where they can.

[02ebz06]

One of the challenges now is that there is not as much building because cost of labor and supplies have increased dramatically.

Not here, building like crazy. Guess due to the shortage of houses.

Side note, may have been mentioned before, but states with legalized Pot have housing prices going up by about 17%.

[BigDave83]

I lived through 3 boom and bust cycles in LA and then Vegas.  My home in Vegas sold in 2005 in a bidding frenzy for $350,000. I bought it in early 2010 in a short sale for $150,000.  I can guarantee there are a lot of folks panicking and overpaying right now.  In a couple of years there will be bargains to be had.

Houses are are scarce here.  People are bidding over the asking price.
My friend who's a Realtor, said one house had 28 bids on it.

Dave, don't forget to check Real Estate taxes.
TX doesn't have a State Income Tax, so the make it up in Real Estate taxes.

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we past the Makers Mark distillery, would have liked to have stopped there.

I went through the distillery in 2003 I thing it was.  Still have the unopened bottle of bourbon I bought there.
Was pretty cool.

The taxes are one of the big things I look at, does no good to buy a house that you can't afford the taxes on. I am spoiled here about 1200 a year, last house was under 1K. I am seeing most in the 4K area on taxes.

MM was my drink of choice when I used to drink more than I do now. I still have a bottle here, along with a few other things I liked. I needed to be careful as I knew I liked the taste far to much and that could have lead to bad places for me. I had seen others in those places and told myself I didn't want to be there.

[BigDave83]

I am not one wanting in where there are HOA fees, that HOA xxxx doesn't even look fun. before I bought what I have I looked at property not far away. I liked the spot was really considering buying the lot, then the realtor whips out this 3 page deal telling me how big my garage can be and how big an out building can be, I needed to maintain something like 20 trees on the property that were 8+ inches in diameter. That was just a few things I remember, I told her I will not be buying this. To this day I do not believe there has been any homes built in that area, mine would have been the first.