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Old 08-11-2009, 10:38 PM
 
10 posts, read 110,328 times
Reputation: 17
Default First time home owner in cypress katy area

Im looking at a Meritage inventory home thats been on the market since Feb 09 in the cypress/katy area. Listing price is about 143 and my realtor has gotten them to go down to 132. Does this sound like a good deal?

Also, there are three builders in the subdivison with one selling their homes starting at the 80's. Should i be wary of this?

Any input/tips before buying this home would be most appreciated. Thanks!
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Old 08-12-2009, 07:23 AM
 
809 posts, read 2,173,585 times
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Quote:
Originally Posted by echoOo View Post
Im looking at a Meritage inventory home thats been on the market since Feb 09 in the cypress/katy area. Listing price is about 143 and my realtor has gotten them to go down to 132. Does this sound like a good deal?
It sounds like an average deal. What have the comps closed for? Has your realtor shown you comps?

Quote:
Originally Posted by echoOo View Post
Also, there are three builders in the subdivison with one selling their homes starting at the 80's. Should i be wary of this?
That's pretty low. I'd be wary of that. Does the neighborhood have a strong HOA? New neighborhoods tend to look nice at first, when the builder has done all the landscaping, etc. But the question is - will the homeowners keep it up? How high do the prices go in the neighborhood? Will you be on the high end?

Has your realtor shown you any resales in the area?
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Old 08-12-2009, 08:23 PM
 
1,352 posts, read 3,192,879 times
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If you have school age children, I would be more worried about this recent event involving their school district.
Cy-Fair ISD changes include no bus service to and from school for kids living within a two-mile radius of their school - 8/04/09 - Houston News - abc13.com
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Old 08-12-2009, 09:08 PM
 
10 posts, read 110,328 times
Reputation: 17
Thanks for the input.

How do i find about how strong the HOA is? Is it kinda like the higher the better? I will ask him about the comps. Should i be worried that he hasnt given me this info already?!?

I was esp. interested in this home because i hear good things about Meritage homes and with nov.30 around the corner it is too late to REALISTICALLY build from the ground up?
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Old 08-12-2009, 09:20 PM
 
10 posts, read 110,328 times
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Quote:
Originally Posted by AlexTx View Post
How high do the prices go in the neighborhood? Will you be on the high end?

Has your realtor shown you any resales in the area?

Homes have being sold on *info from HAR* from 135 to 180 on one side of the neighborhood to the 80 to 90's on the other side.
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Old 08-12-2009, 10:30 PM
 
Location: Houston Suburbia
10 posts, read 32,332 times
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Quote:
Originally Posted by ayannaaaliyah View Post
If you have school age children, I would be more worried about this recent event involving their school district.
Cy-Fair ISD changes include no bus service to and from school for kids living within a two-mile radius of their school - 8/04/09 - Houston News - abc13.com
The same change happened about 5 or 6 years ago here in our school district. Our intermediate school is just about 1.8 miles from my house, so my sister had to walk (neither she nor my mother were very happy about that!)

Some parents even resorted to driving their children to other bus stops and just ploppin' them off...not sure how they got away with that..
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Old 08-13-2009, 07:50 AM
 
809 posts, read 2,173,585 times
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Quote:
Originally Posted by echoOo View Post
Homes have being sold on *info from HAR* from 135 to 180 on one side of the neighborhood to the 80 to 90's on the other side.

That is how much they want for the homes, but that doesn't mean that is how much they are worth. That is why comps are important so you can see what similar houses are actually closing for. Just like you aren't paying full price, few people buying new inventory homes are paying full price.

That's good that the 80-90 homes are on a seperate side, but I still wouldn't like that.

I'd rather be in a neighborhood where once side is 135 to 180 and the othe side is 200-250 for example.

Is this an established neighborhood, like with only a few new houses left, or is it in the beginning stages? If it's more established, you'll have a better idea of what direction it is going.
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Old 08-13-2009, 07:54 AM
 
809 posts, read 2,173,585 times
Reputation: 541
Quote:
Originally Posted by echoOo View Post
I will ask him about the comps. Should i be worried that he hasnt given me this info already?!?
How did you find this realtor? I'm not saying there's anything wrong with him, but I'm wondering if he is the realtor that is listing the builder's homes?

He needs to show you comps so you can see how he came up with the 132k number.
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Old 08-13-2009, 12:05 PM
 
Location: Texas
447 posts, read 1,200,811 times
Reputation: 196
There are neighborhoods in Katy with the low end in the 140's and the high end in 300's- which I agree with the previous poster, would be a much better deal
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