Considering Flower Mound- home prices/valuation concern? Need your point of view (Dallas: days on market, for sale)

[boothdad]

Thanks to this informative forum which has helped us a great deal in narrowing down our location. Now we have decided to consider Flower Mound and getting concerned about the prices/valuations of new/ recent homes on the market. We are bit worried if we even get similar valuation when we sell say after 7+ years (understand market dynamics drive prices, wanted to get better understanding if I am paying premium).

We currently live in FTW suburb and thinking Flower Mound (FM) for better schools, access to airport (traveling management consultant) and few other factors. We are interested in new homes or <5 years with $500k budget in the areas that feed into FMHS. We couldn't find anything reasonable in that price range and then we looked at Toll in Preserve. When priced with minimal options we are easily getting into the $650k range (perhaps making a case of moving to SL price range).

I would appreciate if I could get your point of view on

- Is pricing in Preserve seem reasonable from a resale perspective?
- Are there other areas that are equally good and feed into FMHS (assuming homes are <5 years or 6 if needed)
- What is the good time for new listings of used homes in FM (assume Spring for sure)? We are interested in timing for our son getting into 6th grade next June (evaluating the market now to account for build vs buy time - heard it is taking 10 months these days to build)

Thanks all.

[Ronellis10]

Boothdad

There are a lot of great options both new and existing in the Flower Mound area. Like most area in Dallas existing homes are selling fast averaging about ~50 days on market. I've seen new homes being built in as little as 90 day up to 7 months.

Either way, new or old id would suggest working with a licensed realtor. They can really help even with the new home purchase.

Moderator cut: not allowed

[Back2Texas]

Pricing reasonable: I find Toll Brothers to be priced high in general. I assume that the people willing to pay their premium will do so whether the house is new or used, so it wouldn't affect your resale. But, I'm not willing to pay their premium so I could be wrong on that!

Other areas that are equally good: What is your definition of "good?" What size house are you looking for? If you like Toll Brothers, Flower Mound Oaks is new construction and a little cheaper (starting in the 400s). This is likely in part because the elementary school (Vickery) doesn't have a very good reputation, but your kid is past that age anyway and it does feed in to FMHS.

There is new construction from First Texas Homes on Spinks Rd. Bella Strada is the name, I think.

This one is in my neighborhood: 121 Honeysuckle Way, Flower Mound, TX 75028 - Home For Sale and Real Estate Listing - realtor.com®. The whole subdivision is ~6 years old, and quite a few houses have just been completed in the last 1-2 years, so that might be a place to keep an eye on as well for new listings coming up.

Best time for used listings: I would guess around the holidays and spring/early summer, but I don't know for sure.

[mSooner]

We currently live in FTW suburb and thinking Flower Mound (FM) for better schools, access to airport (traveling management consultant) and few other factors. We are interested in new homes or <5 years with $500k budget in the areas that feed into FMHS.

Unfortunately, most homes in your price range are not going to be under 5 years old. I didn't like the Preserve either...I don't think being that close to 2499 is a good idea--we could hear road noise from the neighborhood and I wouldn't be surprised if 2499 is widened at some point. That, and the homes are just expensive, especially for the lot size.

There is a new neighborhood going up in Wellington right on the corner of Bruton Orand & 3040. That is probably your best bet for a new home under 500k. However, it is really going fast and the lots are small. On the bright side, you get a new home in established Wellington that definitely feeds to FMHS.

I'd still encourage you to look for homes that are a little older...many are updated and have much better lots.

[Back2Texas]

I think this is the one that Moderator cut: can only cite realtor.com

I ran past it yesterday and it looks really nice. And yeah, Wellington is a really nice community.

[boothdad]

Thanks Back2Texas and mSooner. You have a point that staying close to 2499 might be subjected to lot of street noise. I will take a drive this week to check out Bruton Orand &3040 build outs.
Perhaps I could begin shortlisting communities that in the age range. I got Belle Creek Village from Back2Texas any other communities that I could short list to look out for used homes? I don't if there is way on the web to find homes in specific sub-divisions.

[mSooner]

The Wichita Chase subdivision of Wellington has newer, nice homes. Worth looking there, but could be out of your price range, or at the top. Ummm...I need to think of others

[Ralyks]

Why so set on a home less than 5 years old? Why not buy in an established neighborhood like Wellington one of the many 15-20 year old houses and still get zoned for the best elementary, middle, and high schools, and get a big house for under $500k and a neighborhood with excellent amenities?

[Ralyks]

I'm willing to bet the older houses will hold their value better too. Because they are more reasonably priced, more people can afford them, and they will have more potential buyers. I saw this where I used to live before moving to DFW - we bought a 25 year old house. A new, fancy development went up behind us. They sold at $800k when our old house was valued at $450k. A few year later when we sold, those houses were down to $650k and ours was up to $480k.

[Back2Texas]

Sorry, try this link for KHov's Vilamoura:

Vilamoura - Flower Mound, TX New Home Community - realtor.com®

There was a Toll Brothers community going up when we were looking (~2 years ago) -- I think it was in also in Wellington somewhere, but I could be wrong. I don't see it listed on their site now so I assume it's built out, but if you could find where it is, most of the houses should be less than 5 years old.

I do agree that it might be a good idea to be open to slightly older houses, but my husband is an "I'll only consider new houses" person too, so I know how it goes