More Home Builder Questions ??? (Frisco, Stephenville: foreclosures, mortgage, how much)

[AZtoTX]

Since the conventional opinions are to "stay away" from Grand, I wondered what about First Texas (particularly Grayhawk & Panther Creek) Any recommendations for the 250k - 275k range (other than Highland & Ashton woods as those are already at the top of the list).


Thanks

[onrway2clt]

First Texas, Mercedes, and Meritage are all pretty much in the same class.

If I had to choose one it would not be First Texas I have read many complaints on some other forums. They do not like to deal with agents either.

I saw one of their homes in Willow Bay I believe and while they are HUGE. I would say the quality was way off.

By the way if you find an agent they can get discounts on these homes, sometimes around 5%. So if a Highland home is listed at 275000 you can get it for 261000.

Good Luck

[Alex's mom]

Our Builder was http://www.outbackcustomhomes.com/1.html.
My sister used http://www.pulte.com/.

We both had good experiences.

[onrway2clt]

Originally Posted by Alex's mom

Our Builder was http://www.outbackcustomhomes.com/1.html.
My sister used http://www.pulte.com/.

We both had good experiences.

I think this poster is looking to live in Frisco based on the communities they mentioned. Pulte builds there but not Im not sure if it is in their price range.

[SisterB]

My husband & I are buying in Frisco, & we looked extensively at Panther Creek, at all of the builders you mentioned.

This is why we ruled out Panther Creek: TOO MANY FORECLOSURES!!! I've never seen a neighborhood that has so many!

To see what I mean, go to www.ebby.com . Under the home search menu, where it says "address", type in the street name, STEPHENVILLE. Every one of those houses is a foreclosure, & the builders are still building more homes on that very street!!!

That is just one street in Panther Creek. What that says about home values in that subdivision, is not something we wanted to invest in. While no neighborhood is foreclosure-proof, we did not want to buy in a neighborhood where it is a scary trend.

Also, about Grand Homes. We love them, & think they are gorgeous. But I work in Frisco for a mortgage company, & talk to a lot of Frisco Realtors on a daily basis. For some reason, they all think Grand Homes are terrible. When asked why, they all talk about Grand's "castle" designs, & how they will build 5 of them on the same block.

Good luck to you!

[socketz]

I don't like that area of Panther Creek.

I like the Dominion much better:
http://www.darlinghomes.com/available_homes.aspx?MetroID=1000&SubdivisionID=10 33 (broken link)

Even with regards to the Dominion, there is always the danger there of foreclosure because there is a huge mix of builders and lots of inexpensive housing (recall that most foreclosures are in homes that cost around 200k, so distance yourself from those) right there in your backyard.

For investment purposes, I think you are better off on the SW side of Frisco (with the exception of Grayhawk).

If you have gone that far East into Frisco, my opinion is that your better off crossing over into Stonebridge Ranch. Better resale (builds out fully in less than 2 years), nicer topography, nicer balance of builders, more consistent values, ammnenities, almost same distance to Frisco shopping as East Frisco, more exclusive, nicer community, better schools (Elementary).

Realtors try to sell that area as "SW Frisco saw a huge upswing in appreciation, now it is East Frisco's turn to benefit".....I think that's bunk. Proximity to the Tollway is what the SW side is about, and where the tollway runs, values will rise. However, that side has risen alot already, so we need to ask just how much more will it rise. East Frisco is just a completely different feel to me.

[SisterB]

[QUOTE =socketz;591408]I don't like that area of Panther Creek.

I like the Dominion much better:
http://www.darlinghomes.com/available_homes.aspx?MetroID=1000&SubdivisionID=10 33 (broken link)

Even with regards to the Dominion, there is always the danger there of foreclosure because there is a huge mix of builders and lots of inexpensive housing (recall that most foreclosures are in homes that cost around 200k, so distance yourself from those) right there in your backyard.QUOTE]



I agree with everything you say, but there are no homes in her price range, ($250K - $275K) in the Dominion part of Panther Creek. The Darling homes you reference are fabulous, but they are WAY out of that price range.

For $250K - $275K, she would have to buy in the section of Panther Creek with all of the foreclosures.

[socketz]

If you insist on Frisco and can only spend 250-275k, I'd highly recommend the Trails over off Teel on the Southwest side.

Rock solid community with a great reputation (homes sell quick there).

The home will be an older one, but still nice.

If you check out Stonebridge, you can buy a new Darling Home in Wren Creek within this range (small but new).

[AZtoTX]

Originally Posted by SisterB

My husband & I are buying in Frisco, & we looked extensively at Panther Creek, at all of the builders you mentioned.

This is why we ruled out Panther Creek: TOO MANY FORECLOSURES!!! I've never seen a neighborhood that has so many!

To see what I mean, go to www.ebby.com . Under the home search menu, where it says "address", type in the street name, STEPHENVILLE. Every one of those houses is a foreclosure, & the builders are still building more homes on that very street!!!

That is just one street in Panther Creek. What that says about home values in that subdivision, is not something we wanted to invest in. While no neighborhood is foreclosure-proof, we did not want to buy in a neighborhood where it is a scary trend.

I'm curious, with that many foreclosures, what is the condition of the neighborhood? Are homes run down?

[socketz]

It's the price range and the fact that they're new. Investor central. Like I mentioned in another thread, if your looking in the low to mid 200s, your better off buying in an established area vs. brand new.