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04-20-2008, 12:00 AM
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Junior Member
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Join Date: Apr 2008
7 posts, read 7,503 times
Reputation: 21
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Townhomes in Las Colinas
Hello,
We are deciding between a brand new single family home in a new community called Graff Farms by DR Horton in South Irving or a new townhome in Las Colinas. We know that the townhomes are a bit overpriced, of course due to the location. What we want to know is, are townhomes in Las Colinas really worth it when we could get a single family home for 30K less just 15 minutes drive away? We noticed that LOTS of townhomes are being built in the same area (Las Colinas/Valley Ranch) and we are worried that the resale value may be compromised later on (4-5 years from now). Any help in answering this is greatly appreciated.
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04-20-2008, 12:05 AM
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Realtor
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Join Date: Nov 2007
Location: Dallas/Fort Worth, Texas
2,233 posts, read 1,889,796 times
Reputation: 461
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Hookem, I have 3 words for you: I really like Dr Horton but consider...
Location, Location, Location
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04-20-2008, 12:19 AM
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Eternal Optimistic Realist
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Join Date: Sep 2007
Location: Dallas area
1,391 posts, read 1,374,659 times
Reputation: 1392
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Well, as they say, it's all about "location, location, location"! And, while there are various improvement projects and new building going on in the southern sector of Irving, the Las Colinas area continues to thrive and demand high numbers, and with the Dart Orange Line expansion coming directly into Las Colinas from downtown Dallas, with further expansion to DFW airport, I would expect that to continue, especially since it is fast approaching being 100% built out. So, is it worth $30,000 more? Absolutely! 
DART.org - Orange Line Expansion Information
The Las Colinas Association
Las Colinas - Wikipedia, the free encyclopedia |
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04-20-2008, 12:24 AM
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Junior Member
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Join Date: Apr 2008
7 posts, read 7,503 times
Reputation: 21
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Thanks for the reply. I realize that the location is not AS desirable as Las Colinas...there really is no comparison there! However, we have done lots of research and there are many projects in the works to redevelop and develop the surrounding area. It will probably take a couple years but we believe we can see the potential. Regardless, we still very much like Las Colinas (I work there) since its so clean and nice but feel the prices are inflated right now for what you get. Sigh..... this is such a difficult decision!
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04-20-2008, 12:33 AM
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Realtor
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Join Date: Nov 2007
Location: Dallas/Fort Worth, Texas
2,233 posts, read 1,889,796 times
Reputation: 461
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Well, worse case scenario, if you buy the house and in a year you don't like the way the improvements are going, can you lease it to cover your mortgage and move somewhere else? May be it will turn out to be a good investment...
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