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Old 07-10-2015, 11:53 AM
 
35 posts, read 33,737 times
Reputation: 16

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So after our house searches over last few weeks we have figured out that we will have to do a little bit of compromises in terms of age of house, location, amenities etc. want to stick on to budget , not going to move on that.

firstly i think there are tons of home in our budget and its not as bad as perceived. am seeing a trend towards owners reducing prices now in lot of properties which suggests that they have overpriced listing prices.

Russell creek is getting too pricey and we are planning to steer a bit away from that.

Any recommendations for a buyers agent. Please DM me ( if you are an agent please share your review ratings as well) .we do a bit of research ourselves. so need someone who knows the plano/Frisco area well, is aware of things to look in a house and what not to.. and also aware of indicative price ranges and which we should bid and which we should not.. The few i have seen merely pull up a list. they don't even do the mapping against our needs . so not sure what services they offer and how much commission we should expect as rebates depending on level of service.

i feel i will get tired in couple of months looking at homes..

we want to stay in plano in a nice community with pools and active HOA association . so how old an home should i buy so that i can accomodate for future repairs with the spare cash provided i buy a sub 400k home .

considering lack of options in plano, i think the max we can go to is hunters creek in frisco.

Hunters creek seems to be nice. we saw folks sitting in frontyard overlooking the park and it felt very nice. very spacious and well landscaped.
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Old 08-28-2015, 09:41 AM
 
40 posts, read 28,473 times
Reputation: 15
Quote:
Originally Posted by prasen View Post
Hi all,

i have read umpteen threads and also did pose questions on existing threads but response seems to be a bit muted as opposed to new threads. so here i shoot off the question again with a separate thread.

Background

Family of 3 with toddler kid
South asian , i.e. Indian to be more specific
First time buyer with budget of 400k
looking for 4 bed 2 storey home with at least two BR in Floor 1

Requirement
  • Look for a home with open concept kitchen.
  • should be close to parks or play areas
  • Closer to Plano ( wifey works near park avenue, Plano)
  • Hopefully an neighborhood which has good section of toddlers rather than middle schoolerr or high schoolers( my assumption is neighborhoods closer to rice or jasper would be more of elder children) as opposed to russell creek
  • Prefer community where there are some indians to socialize during the festivals

    it would be great if we can get homes built after 2000

Dilemma

  • should we just blindly look at russell creek or should we look at frisco as well
  • how deep into frisco should we look at
  • we had a look at villages at willow bay in east frisco. loved the layout but distance seems too far and am afraid if prices will stagnate as it is bordering on mckinney.
  • prices seem to vary too wildly with little elm and mckinney. so was wondering if price differential will reduce thus causing stagnation/reduction in Frisco. with so much vacant space not sure if the momentum will be sustained for existing home prices in frisco which are hitting close to 400k


please provide suggestions on what communities or areas might be apt for us.

we are thinking
  1. Russell Creek - fits all boxes except the age of the house and possibly home plans might be too old
  2. Plantation springs - heard some good reviews
4 Bed Story homes will not have 2 bedrooms downstairs. Mostly 1 /none. Look for 5 bedroom homes. 400K is a good budget for 5 bed3 bath
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Old 08-30-2015, 01:40 PM
 
21 posts, read 21,246 times
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hi,

'we are pretty much in the same situation you are in...only we have been looking since June with no luck as I really would need two bedrooms and two baths downstairs for my parents and visiting in laws. Its frustrating as one has to see so many priorities - school, community, HOA, closeness to place of work, home condition, price, and wishlist items inside of the home. I see so many older homes convert the storage below the staircase in to a pantry and its hard to find anything close to what we are looking for.
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Old 08-31-2015, 10:06 AM
 
103 posts, read 64,042 times
Reputation: 180
When we were looking , we did find more than one home with this exact configuration in the forest creek north neighbourhood of Plano, and also in Briar Meadow which is just below it.

Both neighborhoods are nice and feed to Schmelphenig (I'm pretty sure I spelled it wrong), Clark and Plano Sr schools.

Both have walking distance access to elementary school, a nice park and a library.
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Old 09-05-2015, 09:25 PM
 
6 posts, read 4,745 times
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What is the situation like for homes in the 175-225K range? Hub and I are downsizing (empty nesters) and see quite a few homes in the Plano, Garland, Frisco, Denton markets we like in that price range. We won't be buying until March. Should we prepare ourselves for bidding wars in that price range?
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Old 09-06-2015, 08:05 AM
 
4 posts, read 3,327 times
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Hello! I am also moving to the area and have the same criteria as you (except for the Indian thing, I'm not Indian so I could go either way on that) there was a neighborhood my husband and I looked at in Plano. I don't remember the name of the neighborhood but the home builder was MI. These are all brand new homes, with all bedrooms including the master on the 2nd floor. The price is closer to 300k and almost every one we saw in that neighborhood, and saw at the open houses was of Indian descent. Look at MI's website and you will probably be able to narrow it down. Unfortunately, we found out that building takes 10 months but as of 4 weeks ago they had a few spec homes available. It's worth checking out. Good luck!
PS MI said they were brand new to Dallas I have personally built a home with them in another state and it was very good. They have a great warranty.
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Old 09-06-2015, 08:18 AM
 
Location: DFW - Coppell / Las Colinas
29,931 posts, read 34,535,636 times
Reputation: 35926
Quote:
Originally Posted by ZPetals View Post
What is the situation like for homes in the 175-225K range? Hub and I are downsizing (empty nesters) and see quite a few homes in the Plano, Garland, Frisco, Denton markets we like in that price range. We won't be buying until March. Should we prepare ourselves for bidding wars in that price range?
Based on the last year.........In Plano and Frisco, yes it will be brutal with many homes getting 5-20 offers in just a few days. I've sold several in Frisco and Lewisville that have gone 5-10% over the already high list price. Be prepared for the home not to appraise. It helps if you are paying cash.

If you go farther north into Denton, McKinney and north of Hwy 380 you'll have better luck. Garland, Rockwall and east should not be quite as bad but brisk.

Huge demand in this price range and anything decent will be $200k plus. If you could buy this winter you might have better luck.
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Old 09-07-2015, 09:43 PM
 
180 posts, read 128,860 times
Reputation: 124
It is truly sad to see so many hardworking families getting prices out of north dallas area. Especially when there are so many rental houses sitting empty in Plano. I noticed this earlier this spring also.

Maybe the market is starting to slow. Hope those investors are sweating and seeing negative cash flow. Serves them right for bidding on homes sight unseen. They make it harder for local families to buy primary residences and inflate prices along with our tax assessments.

You dont have to overpay. i didnt overpay and neither do a lot of other families. you just have to be patient and find the right realtor to help you find those homes that only need a little painting and updating.

Houston is really starting to see a slowdown. It may take a little longer here but i wouldnt overpay at these elevated prices. Well, i didnt overpay. i got a steal and you can too. maybe it wasnt very easy before but market may start to turn now and you all can make that happen.

So just say no to overbidding. Make that pledge now.

I WILL NOT OVERBID ON A HOME AND INCREASE PETER'S TAXES.
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