Plano Home Frustrations (Richardson, Parker, Meadow: days on market, sales, big home)

[bigbear63]

75093 is not cheap...You might consider Allen since it's next to some of your zip codes. Good town as well. I would look at Richardson as well but you will be buying a much older home to fit your budget.

And hopefully you've picked up some tips on what to look for in the structure before making an offer.

[stan4]

Op, I spent from 2006 to 2010 trying to buy a house in 75093 with a budget of $500-650k.
Unless I wanted an annoyingly cramped lot, alley parking, Denton County zoning, unusable formal living rooms, postage stamp yards, entire decor from 1979, smacking up on my neighbor, etc...it was NOT happening at that price range.
We finally upped it a few hundred grand and found something we liked. And we paid a good price, I think. $160 a square foot. Now my neighbors are selling their houses for 200 a square foot or MORE.

That was 2010! The market wasn't even competitive then!
Now? You're just SOL.

Btw, we ran into the roof issue with one house in the Cliffs of Gleneagles. Our insurance company went out there and looked at it and said we could do like a transition insurance thing with immediate roofing repair and they would be cool with it. But the seller wouldn't come off the price to compensate for having to re-roof the entire thing. You might ask your insurance company if they'd be willing to do the same thing.

You're just going to have to compromise somewhere.

[stan4]

Originally Posted by taroberts

I find it very hard to believe you can't find something beautiful in those zips at that price point. There are some I drive by plenty every day in that range. .

Yeah, maybe you don't actually know how much these homes are costing now.

[serger]

Originally Posted by taroberts

I find it very hard to believe you can't find something beautiful in those zips at that price point. There are some I drive by plenty every day in that range. You may also want to check out that new subdivision going up at Preston and Parker in 75093..SE corner. It meets all your qualifications including price.

As far as I know, this is a townhouse development, so I would guess no pool and backyard.

[Vogue186]

Interesting...

Yes, please name tge subdivision? 75093 is the priciest of them all. At $400K it appears we are at the lower end of tge budget spectrum. My best friend bought a home built in 1993 (still needs some work) at $350K three years ago. She now gets offers from agents in her mailbox daily for $450K+ and it's not even on the market. It's crazy.

We're concentrating most of our search in 75023 and 75025 because those areas are more affordable...

[stan4]

Op, a friend of mine moved here from Missouri last year around November.
She wanted to buy a house in the Plano/Frisco area. Her price range was similar to yours.
She wound up interested in close to 20 homes, was outbid or the homes would sell before they got their bid in...on every. single. one. Her biggest problem? Cash offers.

She lives in McKinney now. The way she got the McKinney home is that she was looking at another home on the street and this one hadn't been put on market yet, but the owner was there (I believe he was planning a FSBO) and she and her agent just asked if they could come and look...they offered him asking that very night. And she lives there now.
There was ONE other home in Plano she liked (east of Preston), but it required repairs (older home) and she didn't feel up to it.

You are not just competing with Californians. Two months ago a huge bus stopped on our street. I was like, "Oh, did the neighbors get another obnoxious party bus or something?" But this was bigger - it was like full-on BUS big. And it said it was a private coach. A crapload of asian people came out and they started taking pictures of everything, including our house and the house across the street that's for sale. Then they all went in that house.

I asked a few friends about this, and it turns out asian investors are doing these home buying tours and buying them up. Apparently by the busload.

Forget asian investors. Just regular investors by homes particularly in your price range.

So, yeah. I think you're gonna have to bump up the price, be willing to look/stalk/leap for a while, or compromise on a wish/annoyance.

[DallasG]

If house of your liking is back on market then go back with a slightly better offer. Who knows? They may accept it. I think you can find a house in your range if you look at the stale houses on market with an open mind and probably these are the ones where you'll find a gem that needs some polishing.

[stan4]

Originally Posted by Vogue186

Interesting...

Yes, please name tge subdivision? 75093 is the priciest of them all. At $400K it appears we are at the lower end of tge budget spectrum. ..

An easy search shows 39 homes in 75093 under $400k. 4 are 3000 square feet. The rest are 2000s or 1000s.

[taroberts]

Originally Posted by Vogue186

Interesting...

Yes, please name tge subdivision? 75093 is the priciest of them all. At $400K it appears we are at the lower end of tge budget spectrum. My best friend bought a home built in 1993 (still needs some work) at $350K three years ago. She now gets offers from agents in her mailbox daily for $450K+ and it's not even on the market. It's crazy.

We're concentrating most of our search in 75023 and 75025 because those areas are more affordable...

Sorry I don't remember the name .. It is right there facing Preston. You can't miss it. They have orange cones in the road making the right lane narrow. The name of the builder is up so I called and got bounced around a few times before I could find out pricing.

[taroberts]

Originally Posted by stan4

Yeah, maybe you don't actually know how much these homes are costing now.

Yes, I do. I am on there every few weeks and I just pulled up quite a bit just in my zip. You yourself in a post below just pulled up several. If the OP said he wanted to sped 250-300 then yeah good luck with that but with a budget up to 400k there are 4-5bdr with yards in that price range. I can't guarantee a pool of course.