best home investment in a 5-10 year period? (Dallas, Lewisville: best city, apartments)

[hupbrepis]

highest appreciation rates
i currently live in sachse tx. i dont see much difference on the long run


what im looking for is a house/condo 3 br. in the 150k - 200k price range, which in 5-10 years from now i can sell for alot more.

whats the best city or naighborhood in the metroplex for that.


ive been looking at moving to cities like addison, coppell, grapevine, frisco.
let me know if those are good home investment places or am i wayyyy off.

[Lakewooder]

I think you are way off...the highest appreciation rates are inside LBJ. East Dallas averages about 10% per year and Lakewood and MStreets are about 18%..the North Dallas area had a report of 29% appreciation in the last report in the DMN. Park Cities is also high and Turtle Creek/Oak Lawn and Uptown has high rates but they fluctuate because the number of homes sold is far less. Of course you are going to have a hard time finding anything in that price range in those areas.

You might find an older coverted condo or small home in Oak Lawn or East Dallas.

I think the next appreciation area for Oak Lawn is going to be off Maple where the old apartments are going down and Trammell Crow is redoing the old Parkland Hospital grounds. The same stuff is happening east of Central Expressway around Henderson and Fitzhugh down to Ross Ave.

[hupbrepis]

Originally Posted by Lakewooder

I think you are way off...the highest appreciation rates are inside LBJ. East Dallas averages about 10% per year and Lakewood and MStreets are about 18%..the North Dallas area had a report of 29% appreciation in the last report in the DMN. Park Cities is also high and Turtle Creek/Oak Lawn and Uptown has high rates but they fluctuate because the number of homes sold is far less. Of course you are going to have a hard time finding anything in that price range in those areas.

You might find an older coverted condo or small home in Oak Lawn or East Dallas.

I think the next appreciation area for Oak Lawn is going to be off Maple where the old apartments are going down and Trammell Crow is redoing the old Parkland Hospital grounds. The same stuff is happening east of Central Expressway around Henderson and Fitzhugh down to Ross Ave.

yea i read dallas morning news and it said that house value has gone up 158% in oak lawn so i checked out those places but as you said in that price range for a 3 br condo/house its almost impossible. it might just be too late for those areas

[momof2dfw]

I know of a house in Firewheel that the price just got reduced to $199K (started around $250K about a month ago - divorce case). Saw it on the inside recently and it would be a heck of an investment. Someone could get this house and update it w/ better flooring, get rid of the wallpaper, update plumbing and light fixtures and it would sell. The backyard is nice w/ a beautiful pool.

The only one on that list that I would totally avoid is Frisco. Too many foreclosures and I think after awhile the appeal is going to wear off. It already has for those that moved there from Dallas or other burbs to the south. Too many rentals too in some of the areas there and not being well kept.

It is too late to get a fixer upper at a good deal in many parts including Oak Lawn, Lake Highlands, Lakewood, etc.

[FarNorthDallas]

Highland Park and University Park.

[momof2dfw]

Originally Posted by FarNorthDallas

Highland Park and University Park.

In THAT price range? If ya find one will ya let me know? I'll pay cash today for a fixer upper in the Park Cities that is $150-200K. No need to hold onto it for 5 years either. I could sell it the next day for a HUGE profit.

[FarNorthDallas]

Oh, let me add - NOT Frisco. Way too may houses on the market out there plus there's still new construction. Go drive around there. Not good.

[asil]

I noticed that old Lewisville is gradually being revitalized. Old decrepit houses are being bought cheaply, torn down or remodeled to look much more upscale. This is behind the old historic street. Also, they have been building different business nearby to blend in with the historic area. I can imagine that in ten years, your investment may triple. There should be something from the town council to see what the long term plans are.

[LOK222]

I know the house I just bought in Frisco, I could sell tomorrow and make money

[USA_Mom]

Based on my experience and from everything I've seen and read, not Frisco. They are still building and my girlfriend recently bought a house there for $45K below appraisal..and she had about 4 to choose from in the same situation.