Relocating back to north texas, Mckinney? (Dallas, Richardson: foreclosures, insurance, travel)

[dee99ta]

I will actually be working in Sherman but may at some point in the next several years work in Richardson.

From what I can tell on the MLS, mckinney house prices seem to be dropping and there are a LOT on the market. I have been looking at celina, gunter, van alstyne, Sherman, Howe, and there aren't many homes when compared to Mckinney. I wouldn't have thought that Sherman would be higher than Mckinney, but it is right now.

My question is why? Are people trying to get out from under them because they can't afford them? Are they tired of commuting or is the gas killing them? I wonder if that localized market is similar to here in AZ, lots of adjustable rate subprime stuff that is starting to rear its head.

Any advice? I would be commuting against traffic so it shouldn't be too bad. I think there are shuttles that run also.

[prosefamily6]

Alot of the homes in McKinney people can't afford. They have decided to downsize. When you drive thru it's a lot of the larger homes that are for sell. Same goes for Frisco. Frisco is still very nice and the schools are exemplary too, regardless of all the selling.
I was able to move into Stonebridge Ranch into a 2800 sq ft home 6 mths ago because of the drop in prices.
The schools are still exemplary and the area is still very taken care of.

I do know that a lot of homes were bought by investors and when things got crazy with the economy they started trying to sell.

I love it out here, and we personally don't think the commute anywhere is too bad from here either. Well, unless you are having to drive to Ft. Worth or someplace.

[scyogi]

We are in Mckinney--have seen probably 4 foreclosures in our neighborhood in the past year since we have been here. (Ridgecrest n'hood) All have resold at an AMAZING discount quickly. WHEW! The homes priced under $350K seem to move much quicker than those priced above. When you are considering a $400K home plus taxes/insurance that takes a good chunk of change --even with 20% down. I don't think in general Mckinney home prices are 'dropping' by leaps and bounds. Yes there are bargins in the market right now. Most of the reasons homes 'sit' on the market is due to the new construction that is still being built. You can pay the same amount for a brand new shiny house or move into a home with colored walls and kid stains everywhere.

So traffic....the commute to Sherman should be a breeze. Traveling to Richardson (from Hwy380) down 75 in morning traffic on a good day--probably 45-50 minutes and on a rainy day 60-75 minutes. 75 is really a HORRIBLE highway in general--traffic is always heavy, HOV lanes make no sense, BUT TX DOT is doing some improvements over the next few years.

I do like Mckinney--it is very nice, lots of families with kids, schools are good--ok I have a few issues with the schools BUT not enough to scare anyone off. Most everyone I have meet is very open and nice. Other areas that I am in/around frequently that I also like is Allen and Fairview.

[stargazer]

The issue we have been having here is that people who walk through my home think it is priced too high, though last year it really wasn't here in Mckinney. It is a buyers market but maybe that will change around soon. I am hoping.

[Grainraiser]

Buyers can afford to be nit pickey with so much inventory out there.

[ya'll]

We moved to Mckinney about six months ago and love it! We got a great price on our house and had no trouble selling our old house.

[FarNorthDallas]

I think people bought in McKinney underestimating their commute into Dallas for work. Those other cities you mentioned - Celina, Gunter, Howe, Sherman, Van Alstyne are even further away. Celine and Gunter aren't even on a major freeway. It would be a long long commute into Dallas from those areas. Sure there are some folks that do it, but it's a beating. I live in Dallas proper and many of our new neighbors are people "moving in" from McKinney. Sherman and McKinney are county seats so they have always been around and a bit bigger than what I would call a "small town" like Gunter.

I read an article once in the Sherman-Denison newspaper where they were trying to get management types to buy homes in Sherman and surrounding areas, because usually they live in McKinney and commute to Sherman. The worker bees live in Sherman areas.