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Interestingly enough, it seems as if most people who move into Southlake are "transplants," meaning people who moved here for employment or one reason or another. Native Dallasites or Fort Worth residents tend to stay closer to the cities proper.
In my opinion, I don't think this makes Southlake, etc. "bad." If you grew up in Dallas or Fort Worth, the outer lying communities like Southlake, Frisco, etc. didn't exist when you were a kid. I don't think those cities have been around quite long enough to have grown children who can afford homes in their "hometown" yet. Native residents tend to live by what they know and for the next few years, that will be the (more central) Dallas or Fort Worth areas.
They existed but in different forms...and I agree that your point is worth considering...
but you have to consider that when people have as much wealth as many people in Southlake they can "help" their children live anywhere theyw want...
one of the prime reasons the townhouses built in two stages by Southlake Town Center sold out so quickly was that parents were buying them for their adult/college age children--
so they could have a house suitable for their needs (no yards/no kids/but no apt either) at the early stage in their adult lives--
and also as rental property to be leased out in town where there is very little "new" rental property--at least when they were built initiall
There are many people who have been raised in suburban towns in DFW area who live here--I know enough of my children's adult schoolmates to know that is true...
and I think that since Keller and Southlake have been "growing" since the early 80s--there has been time enough for second generation residents to take root there--or in close proximity
The factors which have helped Southlake especially to be such a mecca for people moving in from out of the area are two-fold
1--no apartments within the city limits and a strong city council and resident consensus that they don't want "cheap" housing alternatives....how long that proviso can remain in place remains to be seen but land is not cheap in Southlake and that will likely serve to keep out multifamily development that is under the avg price per ft
2--strong ISD that has managed to maintain quality reputation and strong presence with marketing companies that do relocation...
Now people who grow up in towns like Keller, Bedford, Irving and any other in DFW area and can make the move up the housing ladder, consider Southlake and Colleyville to be "final destination" locations...
where if they manage to get there--they can stop looking...
In my opinion, I don't think this makes Southlake, etc. "bad." If you grew up in Dallas or Fort Worth, the outer lying communities like Southlake, Frisco, etc. didn't exist when you were a kid. I don't think those cities have been around quite long enough to have grown children who can afford homes in their "hometown" yet. Native residents tend to live by what they know and for the next few years, that will be the (more central) Dallas or Fort Worth areas.
Nativa Dallasite here...
Frisco existed when I was a kid, but not in the state that it is now. (It was a LOT smaller!) We moved to Grapevine because it was closer to our work locations. Being near my "hometown" was not a consideration at all; in fact, we wanted to be away from my hometown!
Yes, Southlake is FULL of transplants. That's not necessarily a bad thing... It's kind of ironic because the city itself is so new, too.
The Southlake area was settled by pioneers in the 1840s, but was not incorporated as Southlake until 1956, four years after Grapevine Lake was finished.[5] Before incorporation, the settlements of Whites Chapel, Dove, Union Church and Jellico made up present day Southlake. The area remained rural until the completion of the DFW International Airport in the 1970s. Due to the close proximity to the airport, Southlake became a boom-burb throughout the 1980s, 1990s and 2000s. As of 2010, Southlake's population was at its full capacity of around 25,000 people.
Southlake has homes that are 30+ yrs old--but it was much more rural/agricultural until Grapevine Lake came into play and the entire area along 1709 started to be developed...
much growth has happened since the early 80s--the time we moved to Bedford--
Keller was a wilderness basically in the late 80s/early 90s when my kids were in school and we went there for athletic/drama events...
Transplants move into areas where they buy comprable housing costs--so they don't pay tax on equity they can't invest into a new home--
many transplants moved from areas where housing costs are much higher than they were in TX (in most areas of TX)...places like CA, Conneticut, NY, Chicago as companies open/moved locations to DFW
new construction drives upscale housing--
areas where there is raw land for development draws new construction--
builders could offer custom homes and larger lots in areas like Southlake, Colleyville, Flower Mound because there was affordable land for development
towns like Bedford, Hurst, Arlington missed the boat--
they failed to either have land for those developments available during the years when people were moving in or they made bad decisions about pricing...they also did not have the luxury of not having any apartments within their city/ISD limits
People continue to underestimate the allure of that factor--
Southlake and Colleyville benefited from being late comers to the construction dynamic--
Bedford a town with much to offer became almost built out by the early 90s and consequently lost out to having higher priced homes constructed...
the land there--being so close to DFW and the Airport Frwy became valuable quickly--quicker than Southlake's that was considered out in the sticks because the road system was not really developed at that time--and the urge to built more homes/smaller lots in neighborhoods and built multifamily held sway...
and thus, the home values never had high $$$ homes in the area to draw up the values of neighboring homes (which happens in other areas like Colleyville, Keller, Flower Mound, Plano)
There were enough people moving in to this area who came from homes that were 600K, then 800K, then IMM+ that they needed homes of similar or more value--
and that market basically had to be created--
which is why Southlake is the town it is...
the market need for high $$ homes created Southlake initially--and then it was fed with people who could afford to move there by moving up the housing chain locally...
and what Southlake has going for it is a desireable ISD--as long as Southlake Carroll ISD draws families who have younger children, it will continue to be a draw...and I think the number of residents will grow but slower--since Southlake seems committed to having low-density construction...and many empty nesters are able to stay in their current homes vs move out and sell to younger families...
Last edited by BstYet2Be; 01-11-2012 at 09:13 AM..
Reason: Quote the material included & include the source link as edited above
My husband and I moved to Dallas in August, and then spent a few weeks looking around the suburbs to find where we wanted to buy a house. We decided on Southlake or Colleyville, and are closing on a house in Colleyville next week (yay!). But I would definitely not describe us as wealthy, and our price range was under $500,000. There was no shortage of houses in our price range, and there were many houses that were even less than $400,000 that looked to be decent. So while, there really are not cheap houses in either area, you certainly do not have to spend over a million dollars to find a very nice house! And just to give some perspective, our house is under $500 K, with a pool and outdoor kitchen, a 5 car garage, and updated kitchen and bathrooms.
I did not know that Flower Mound was that expensive also. What I did notice about Southlake and I think I saw someone post this too was there aren't any apartments in Southlake which helps to keep the city's upscale value so to speak. I would guess that houses may start around 400k. Anything less would probably be dated.
You can plenty of very nice homes in Southlake for under 500K (I should know, I'm getting the listings for them regularly). THBS, the taxes are higher and you do get "less bang for the buck" than you would even in neighboring Colleyville. Median home price in Southlake looking at the 2009 Census data was $451,900, one of the highest in the metroplex when you leave out the Park Cities (and Westlake or Westover Hills). Personally, Southlake is one of the 'burbs I'm looking closely at, although for now it's generally coming in behind Colleyville and western Flower Mound/Double Oak.
Southlake is definitely an "upscale" 'burb. The school district is likely the best in DFW outside of Highland Park and Plano (although as noted, how much of that is the schools and how much of that is the demographic it serves is another interesting question). Median household income was actually HIGHER than Highland Park on the 2009 data (although the 2010 data has HP reasserting its dominance). As noted, it's newer and was designed/zoned with generally larger lots.
So is it really "that" expensive? Well, it's certainly cheaper than Park Cities, and I'd guess parts of West Plano are a lot pricier as well. It is more expensive than most other general areas. The answer really is A) what do you consider "expensive" and 2) if you can afford it, would you want to live there?
As noted, for us it's among the finalists for various reasons, but we're generally leaning elsewhere. Your mileage may vary. What's great for us may not be for you, yaddayaddayadda.
Michelle15--I bet you bought in one of the older neighborhoods that are kind of languishing on the vine with people focused on newer homes in Colleyville--but more power to you--
I think most older neighborhoods in Colleyville have lot to offer and you get lot of bang for the buck when you buy in there...
enjoy your home and try two restaurants--if you have not already--
Bellisimo's on Hwy 26--been there for years in the old Dairy Queen--locally owned/operated BYOB restaurant with some great Italian food
and the new restaurant that is also on 26 (aren't they all for one reason or another) named Next Wood-fired Grill--little more upscale but interesting menu and good food when we went
If you like Mexican food the best local restaurant is not Gloria's IMO--but Lupe's in Bedford at Central and 183--on the corner
we love it--great margaritas and just good food in general...
Thanks Lovestoread! We will definitely check those restaurants out! And yes, you are correct, our neighborhood is older - our home was built in the 1990's. And we are one of the lower end homes in the neighborhood. But it is a beautiful home and looks new to us! I just wanted to make the point that there are plenty of homes under $500K and even under $400K. They won't be as nice as the newer homes, but they are still great. We don't feel like we settled for something just to live in Colleyville - we are very happy with the house!
And to the point that another poster made about getting more bang for your buck in Colleyville versus Southlake, I agree completely. When we were looking for houses on realtor.com, the ones that made the top tier for us were mostly in Colleyville (although there were some Southlake homes too). We weren't set on Southlake over Colleyville, so we decided to go with the nicer house. But there were many very nice houses in Southlake in the same price range.
Thanks Lovestoread! We will definitely check those restaurants out! And yes, you are correct, our neighborhood is older - our home was built in the 1990's. And we are one of the lower end homes in the neighborhood. But it is a beautiful home and looks new to us! I just wanted to make the point that there are plenty of homes under $500K and even under $400K. They won't be as nice as the newer homes, but they are still great. We don't feel like we settled for something just to live in Colleyville - we are very happy with the house!
And to the point that another poster made about getting more bang for your buck in Colleyville versus Southlake, I agree completely. When we were looking for houses on realtor.com, the ones that made the top tier for us were mostly in Colleyville (although there were some Southlake homes too). We weren't set on Southlake over Colleyville, so we decided to go with the nicer house. But there were many very nice houses in Southlake in the same price range.
I have to laugh at the idea of an "older home" being from the 1990's (I'm a recent relo from Chicago, and my wife grew up in Boston, where an "older" home from the 90's would be from the 1890's. )
But yes, we've been getting listings for both Southlake and Colleyville (I wouldn't be surprised if the house you purchased is one that I received a listing for, given your price range and the other miscellenia you posted about it) and having similar experiences to you. There are plenty of nice homes in Southlake, but Colleyville seems to have slightly nicer houses at the same or lower prices.
Of course, Carroll ISD rates a little higher than Grapevine-Colleyville ISD by most objective markers, but both are awfully good.
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