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View Poll Results: which place should i buy a house for reselling purposes?
addison 4 17.39%
frisco 10 43.48%
grapevine 0 0%
coppell 2 8.70%
other... please specify 7 30.43%
Voters: 23. You may not vote on this poll

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Old 06-15-2007, 01:33 AM
 
3,035 posts, read 13,063,839 times
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Quote:
Originally Posted by USA_Mom View Post
LOL you sound like us as far as home buying, but you know I always look at preexisting too because you never know when you will come across something (like the oasis and media area). In fact back in 2004-05 we found a great house in Allen that had a koi pond and this tea house outside that I adored, I would have purchased that in a second but the rest of it needed a major overhaul as far as paint and I'm lazy when it comes to that stuff.

I know there are pockets that appreciate faster, but as general rule I wouldn't tell people to invest there.

I'm with you on the flipping too. I really don't know how my husband's friend does it because he works 40 hours a week for benefits (and money obviously), takes care of 32 houses, and deals with that all the time. I couldn't or would not really want to do it. But we've talked about it before as an idea to throw around.

My mom's in Frisco and I just can't help but think that it is going to fall out from under her, although she had a substantial down and equity; but, I wonder about those who went in with 5% or less down and need to sell. They just can't.
Frisco is NOT going anywhere....you guys are acting like it's going away. BUilding permits are down, which means resales will pickup. Still, there are tons of people still buying in Frisco. Take a look at the sales, not just the number of homes on the market (that number is high, which is one of the reason I shied away). Long term, Frisco is an excellent area.
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Old 06-15-2007, 01:17 PM
 
Location: Lake Highlands - Dallas
619 posts, read 2,318,685 times
Reputation: 473
Why is there so much talk about Frisco? I don't understand how a village of Californians can get so much attention. The terrain out there is unattractive, the houses are ugly, the traffic is horrible, crime is on the rise, and Friscoans thinking they live in paradise is annoying!


... (waits for Socetz to shine the light on Frisco yet again)
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Old 06-15-2007, 02:51 PM
 
26 posts, read 153,490 times
Reputation: 15
why isnt addisson being recommended?
i figured that would be the best one
did it reach its peak or something
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Old 06-15-2007, 03:04 PM
 
6,585 posts, read 22,479,985 times
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Addison is in the Dallas ISD school district and has the reputation of being a party place and not a family-oriented place.
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Old 06-15-2007, 03:55 PM
 
16,092 posts, read 35,935,026 times
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Quote:
Originally Posted by socketz View Post
Your out there sometimes with these blanket statements Lakewooder...

I'm sure your good ole home in Dallas was built by a team of skilled craftsman that belonged to a union and took lunch to work in a little green lunch pail.

Abstetos, lead paint, lead pipes....all those good old things we put in houses back when they were 'done right'

I don't have any of that in any of my houses. And back then they used real old growth lumber with full measurements, not the stuff that passes for 2 X 4s today. In fact most of my properties used 2 X 6s and diagonal sawn lumber sheathing.

And yes, they were craftsmen - ever heard of Craftsman Bungalow? ;( But seriously, Dallas was around a quarter of a million back in those days and everyone sought the highest reputation for his work. Some of these guys and their disciples lasted until the 1970s and 80s and I knew them. That is why we are still praising and having tours for anything built by Clifford Hutsell, Charles Steven Dilbeck, Dines and Kraft and even O.W. Smith's more conventional designs.

Do you know of any homes in Frisco built on pier and beam foundations? Also they put sand underneath the slabs, hence "fill dirt". If they have stopped that procedure, let me know.
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Old 06-15-2007, 04:03 PM
 
16,092 posts, read 35,935,026 times
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Quote:
Originally Posted by FarNorthDallas View Post
Addison is in the Dallas ISD school district and has the reputation of being a party place and not a family-oriented place.

Isn't Addison in WT White district? It's ranked above most suburban schools and has several times the number of National Merit Scholars than all of Frisco.

Not that I am recommending Addison...
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Old 06-15-2007, 04:07 PM
 
16,092 posts, read 35,935,026 times
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Another area I thought of for a condo in Dallas is along University between Skillman and Greenville Ave. - look in 75206 (Stonewall Jackson Elementary). There is great demand here because it's the one of the cheapest ways to get in Stonewall and SMU students, faculty and staff have always sought the area.

Several apartment complexes (at least 4 I know about) have been sold and are to be torn down and redeveloped. But that will make the surviving condos more valuable and they are well-built (1960s) with dens, hardwood floors and real fireplaces. You can walk to Central Market and Old Town and there is a DART rail station at Lover's Lane.

Last edited by Lakewooder; 06-15-2007 at 05:06 PM.. Reason: more info
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Old 06-15-2007, 04:18 PM
 
26 posts, read 153,490 times
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Quote:
Originally Posted by Lakewooder View Post
Isn't Addison in WT White district? It's ranked above most suburban schools and has several times the number of National Merit Scholars than all of Frisco.

Not that I am recommending Addison...
uptown is kind of on the same boat.

party place is actually a good thing for me as long as it doesnt hurt the value
its just me and my brother who will live there im 23 and my brother is 20.
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Old 06-15-2007, 06:04 PM
 
Location: The Big D
14,874 posts, read 36,446,160 times
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Quote:
Originally Posted by socketz View Post
Your starting to come up with some blanket statements as well Mom.

There are still tons of people moving to Frisco (that's alll I hear people in Plano talk about). Yes, there are foreclosures in certain areas to the far West (next to 423) and the east, but these are areas I've told people to stay away from. If you stick with The Trails, The Teel Corridor, Areas along Legacy and the exclusives areas like Starwood and Stonebriar, resale will be excellent.

Frisco is close to being built out 5-7 years because there is an enormous parcel 100s of acres (flanks both sides of the Tollway up to the 380) that belongs to an old wealthy guy that refuses to sell. Alot of the other land is zoned commercial. If you go to some of the new home developments in the areas I recommended (Pearson Farms, Cobb Hill, etc), they have maps of the entire area and can tell you what's going where. Also, the Grand Park in SW Frisco will take up alot of space as well going from Legacy up through Main.

Once Phillips Creek Ranch is built out, Frisco will be winding down....

For you guys to still be predicting the demise of Frisco and Mckinney and recommend that people look at 50k homes in Garland....that's madness. Maybe compare Firewheel to Frisco and places like Stonebridge, but not the other parts of Garland, especially not the 50k areas.

How is what I said a "blanket statement"? I just told the truth that those two cities in praticular (Richardson & Garland) are pretty close to being built which is true. Then you too say that Frisco is close to build out in a few years.........

I'm looking at it from the point of the original question asked: What area would you buy a house in the $150-200K range for a good investment to sell in 5-10 years? MANY of the places that some have listed are NOT in that price range nor would they be considered a "good investment" as they are in areas that may have seen their time or will not see their peak for a long time or are stagnant and probably will remain so for awhile (no one has a crystal ball so we can only go off of what the market has said for the last several years and how the city governments are acting in directing the cities). This last point is one that REALLY should be considered and it deals w/ how the city governments are. So let's name some off and those w/ knowledge about the city and how they are being proactive can let us all know what is going on there.

1. Garland. I know in Garland that many landlords do not like the recently adopted ordinances they must abide by. They are VERY strict and rental homes must be practically better kept than owner occupied homes. Rental properties are subject to an exterior and interior insepection to make sure they stay up to code. I'm glad for one. It keeps slumlords out. These has caused many investors to sell their rental properties and has attracted a better type of landlord/investor that actually CARES about how their properties look. I go thru one of what many consider the "worst" areas of Garland for my childs school and have seen houses go up for sale and sell pretty fast.

2. Richardson. Richardson is a place I would seriously consider looking from an investment standpoint. It is built out and there are some wonderful charming older areas and great architecture. Those Arts & Crafts bungalows can be found in the city. The city recently announced plans to help owners revitalize their properties. They WANT to spruce up the older neighborhoods and they WANT people to be proud of where they live. I see several neighborhoods in Richardson becoming the next "it" place "to be" because of these actions and the fact it is close into downtown Dallas, good schools, great community involvement and charming areas. j

3. Addison. Too many singles and the construction is too new. If they work downtown and want the urban living type feel they may rather live closer to downtown. No DART rail line right close by could hurt. Now the city JUST changed the zoning in some areas along Belt Line and they want to invent different "zones". Could be some slight possibilities but for the "investment" side and wanting to sell in 5-10 years I don't know. It could take 10 years for it to get to the point that it is all finished.

4. Park Cities. Only bringing this up because it was mentioned. So NOT in the price range given.

5. Lakewood. If you can find a fixer upper IN Lakewood or Lake Highlands that is in a good locale for that price and it won't make you broke....... GO FOR IT! Good luck though.

6. Frisco. WAY TOO MANY homes on the market. Just pull it up on realtor.com and see how desperate they are to sell. A couple of years ago a house like mine was about $30-40K MORE in Frisco. Now my house in Garland is a good $60K more than those in Frisco. Don't know how willing I'd be to ride that wave. The city leaders need to put a moratorium on construction. While building permits may have slowed down they need to come to a halt for awhile. No more approving any new subdivisions either for at least 6 months. This can be done and has in the past by a lot of area cities. They do it to catch their breathe and make sure the infrastructure is in place to handle the growth. This could possibly help bring prices back up if done right.

7. Carrollton. I don't know if anyone brought it up or not but I will. From an investment standpoint - NO! The prices have kind of hit their high a couple of years ago. The city is not doing anything to help either. By this I mean code inspection. I've said it a million times..... if your neighbor wants to put in a crappy storage shed in back that takes up the entire yard and place all of their extended family from Mexico in it........ fine w/ the city. If your neighbor wants to park a large commercial vehicle out front in the street for a week or more and never move it..... fine w/ the city. If your neighbor wants to run a shade tree mechanics shop to soup up old Honda's w/ rice burners.... find w/ the city.... oh and they are doing it in what should be the yard not in the driveway or garage. If your neighbor takes off the entire summer to Mexico to visit family and leaves their 5-6 large dogs in the backyard chained up or not w/ a plastic kiddie pool full of water and dog food for 3 months... fine w/ the city. If your neighbor wants to celebrate their 3 year olds birthday for the entire weekend w/ the entire extended family and friends by having a giant BBQ and people partying all night long and that includes firing guns in the air...... fine w/ the city. If anyone thinks none of this happens......... I know otherwise and have witnessed it and it is IN North Carrollton too. Not till the city grows some balls and does something about it will it change. And there could be some really nice areas too.
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Old 06-15-2007, 06:44 PM
 
313 posts, read 1,573,888 times
Reputation: 80
Frisco, no doubt, it will be fully built out in 5-7 years and is the best place in the US to live.
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