Waterstone Estates in McKinney (Rockwall, Heath: low income, for sale, foreclosures)

[CravenClan]

Hi,

I am trying to find info on Waterstone Estates, i tried searching this forum, and only came up with 3 or so posts...Can anyone tell me what the deal is there? They are BEAUTIFUL houses..in my price range, BUT is it the school??

We are planning on moving in January, and i have had my heart set on Rockwall/Heath...I love it, and the schools...but my husband maybe working closer to McKinney, so i thought i would check houses out on the internet, and came across Waterstone. There are a lot for sale though and repos, then i checked out the elementary school, and it did not look so great. The rating was ok, a 7, i prefer a 9 or 10, and when you look at the student stats, there is a high hispanic population, along with "economically disadvantaged"...What is the deal?? I guess it just surprises me that people, that can afford to have those homes (before they were repos) then send their kids to a school, that is not very highly rated? I found that in one are of Rockwall as well, which again surprised me!

SO we are looking for a house on acreage, upt to 5-10 acres. I looked up Prosper, and found their school ratings to be VERY good, can anyone tell me anything at all about the areas?

Thanks
Christina

[Korel]

Hey Christina,

I've done a few homes in Waterstone and it is on the far east side of McKinney. All my clients were empty nesters so schools was a non-issue. You're right, the demographics on the east side are what they are.

Prosper is very good. For a Custom Home on acrage look at:
Amberwood Farms
or
Twelve Oaks

[FarNorthDallas]

I would go with Prosper over McKinney if the commute isn't too bad. Prosper is more like a small town, than a suburb. They just [over]built a beautiful high school with all the bells and whistles.

McKinney buses kids around to keep the level of economically disadvantaged kids level at all schools and it's not always the low income kids who get bused.

[nsumner]

Waterstone has not done very well for many builders there. I would contribute that to timing. The community opened just as the market peaked. It opened up to smaller cutom builders who didn't have the financial backing to stay afloat and that resulted in many foreclosures. If there were bigger builders, they would have opened up an elementary school inside the community.

The homes are absolutely gorgeous though. You would not find the same floorplan twice there.

One of the disadvantages of living on the east side of McKinney is the lack of shopping, you would have to drive 20 minutes to the nearest stores unless you take into consideration the small convenience store in New Hope.

Doing that drive from 380 to the community is not very pretty, so I know that was an issue for 2 different buyers I showed in there. However, everyone that I spoke to that lives in the community love it.

I still think that there is great potential for Waterstone a few years down the road, so you would have to look at it as a long term investment.

Naima