Dallas Homebuyers Are Walking Into A Trap

Dallas homebuyers are being told things that sound true—but some leave out the one detail that can cost you thousands of dollars. A huge builder price cut, a low mortgage rate, a “free” upgrade, an inspection, or even the price you see online can make a home look safer or cheaper than it really is.

That's the trap.

In this video, I put some of the most common things Dallas-Fort Worth homebuyers hear to the test. Are Dallas home prices really falling because mortgage rates are high? Does a big builder price cut mean the seller is desperate? Can you trust an advertised 4% mortgage rate? Can Zillow tell you what a Texas home actually sold for? And can your interest rate change even after you thought it was locked?

We also look at new construction in Dallas, builder incentives, “free” upgrades, buying a home as-is, home inspections, and whether renting is really throwing money away.
The problem is that many of these statements are not completely false. That is exactly what makes them dangerous. A buyer can hear something that sounds reasonable, make a decision based on it, and never realize what was missing until thousands of dollars are already on the line.

And Dallas has another problem right now: homeowners are competing against a large supply of new construction, where builders can use price cuts, mortgage incentives, closing-cost help, and upgrades to make one deal look much better than another.
If you're buying a home in Dallas, Plano, Frisco, McKinney, Prosper, Celina, or anywhere in DFW, the goal shouldn't be to chase the biggest discount. It should be to figure out what the house is actually worth, what you're really paying, and what the offer is really giving you before you commit.