Kings Ridge in Frisco (Dallas: foreclosures, rentals, condos)

[lucky_d]

We are looking to buy a home in Frisco and found the perfect home. We love the house, but are concerned with an adjacent neighborhood, King's Ridge. Do any of you have any info on that area? The neighborhood our prospective house is in is very neat and well kept, but just a few blocks over is Tournament...the houses/condos(?) there are a mess. It doesn't look like people are taking care of their property very much. We have driven around in Kings Ridge looking for a different house and it doesn't seem like even the whole Kings Ridge neighborhood is subject to this blight, just the main thoroughfare.

I guess what we are worried about is that this could signal a trend for the whole area.

Any thoughts?

[FalconheadWest]

There have been many issues with the homes in Kings Ridge. Many of them have had massive foundation problems which Grand Homes has taken care of (in some cases). There have also been many foreclosures and the warranties are voided at that time, and many have foundation issues that would now cost a resale buyer out of pocket instead of through the builder's warranty.

It's hard to sell a house where the neighbor just did upwards of $30k in foundation work because the same might happen to your house as well. There was just something about this particular neighborhood, and the assumption is they didn't fully complete their soil testing before building or these issues would not be effecting the entire neighborhood like it is.

It's not like it's a $100k neighborhood, so I wouldn't worry too much about living near it. It'll turn around, but it'll take some time for the home owners to settle down.

[lucky_d]

Falconhead, thank you so much for that feedback. I really hope it works out because I adore this house, but I didn't want to have "blinders" on about the location. Our realtor didn't seem to think it was that much of a problem, but we felt nervous about crime being a possibility from the unkempt rental properties. It's not like we would even have to drive by there, but just didn't want to put ourselves in a high risk area. My gut feeling was that it was just a little "patch" of decay amongst a majority of nice homes, but my husband, in particular, was very worried.

I'm glad to hear any feedback from anyone who has knowledge of the area.

[katefrisco]

You need to go to friscoonline.com , you will get a lot of feedback on that particualar neighborhood.

[nsumner]

Kings Ridge is at the bottom of the price range for Frisco. Any time a neighborhood is the cheapest in a nice area, the homes will tend to turn into rentals. Especially in a neighborhood that has a mixture of SFR and duplexes.

Naima

[kmc757]

The Dallas area sit on unusual black soil that has rather strange expansion properties. Be sure to learn about watering your foundation in the summer time. Yes, I'm serious. The slab foundations need even water content in the soil around them or it can result in foundation cracks. Not a major issue, just learn about it, and take care of your foundation.

[indiomonk]

Kings Ridge is a nice neighborhood which was affected by investors from out of state buying up homes during the peak around 2004 and 2005, they over paid and when their ARMS or no interest financing came due and the property did not appreciate by 50% they walked. This is where the foreclosures came from. As far as foundation issues, the only builder I know of in that neighborhood that had/has issues is Grandhomes and that is only on a certain street. (Autumn wood Trail) I think they graded the street and did not do the foundation properly. The other builders like David Weekly, Sotherby's, TollBrothers, Oakley Custom, and many other custom builders are not having foundation issues. Most homes yards are well kept but you can really tell which houses are investor owned/leased. It looks like most of the investment homes have already gone through foreclosure so when those get out of KingsRidge I think that neighborhood will stabilize.