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Old 08-27-2010, 08:50 AM
 
Location: Austin, TX via San Antonio, TX
6,134 posts, read 8,594,492 times
Reputation: 3374

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If you all are being priced below market value I don't see what makes you think that, god forbid, you have to sell the house in 3-5 years that the home will sell above market value. There is so much going on in that area that either values will skyrocket because everyone and their mother wants to be there or go down because people have moved on and out even further. And you never want your home to be the most improved upon home (most expensive home) even with an obstructed view (My dad says that all the time..I don't know the reasoning behind it though).

And just a head's up I've driven home in rush hour traffic (to De Zavala/10) from AR and it's taken me a good 45 minutes.
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Old 08-27-2010, 09:37 AM
 
283 posts, read 817,774 times
Reputation: 132
There are so many options in Alamo Ranch and throughout the city right now! Don't settle! Have you driven further down into Alamo Ranch where the Preserve is? David Weekley and Highland build there. You won't have the city views but there are lots of trees!

My husband works at 10/Huebner and it takes him 30 - 40 minutes...taking 410 to 151.
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Old 08-27-2010, 09:28 PM
 
5 posts, read 6,282 times
Reputation: 10
Thanks for the responses and advice! I've driven further into AR and like the new communities, not sure that the homes in the Preserve and David Weekly are in our comfort price zone, thus the reason we are considering this house up the hill that is below market. I plan to drive around so more this weekend and see what kind of incentives the builders are offering...thanks everyone!
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Old 08-28-2010, 09:49 AM
 
221 posts, read 500,353 times
Reputation: 164
Quote:
Originally Posted by mkl37 View Post
Thanks for the response. We're getting a decent deal, as the house is in great shape and has new carpet. I am concerned that if we have to resell in the next 3-5 years that we will have to sell it well below market value since it has such a large obstruction across the street. We're still within our option so I have some time to pull out of the deal.
I know EXACTLY where you are talking about and no matter what kind of deal your are receiving it is not worth the risk you are taking...and I would also be worried about reselling in 4-5 years because if DRHorton is still building there at that time good luck at reselling they will be BIG competition since they are notorious for reducing their homes by $$$.

What worries me most for the people living in a DRHorton community is the fact that the builder deeply reduces homes...that means your neighbor can buy your house a month later for 10-30K(depending on special) than you did...it leaves one to wonder how it is screwing with the neighborhoods property values.
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Old 08-28-2010, 02:33 PM
 
48 posts, read 83,000 times
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sawatchdog, you may be right, but I would not count on DH Horton building any Premier Plus or Marquis home in 4 to 5 years. Their inventory of the larger lots they use to put three car garages on is dwindling. This come straight of the of the community plan that is public record. They probably will be building the other series of homes, but it will be hard to tell if it will affect property values on the primier plus and marquis homes since they appeal to a different buyer. For instance. the appraisal on all of the Premier Plus and Marquis properties just went up about $20000 this year as oppose to last year while the other DR Horton area either stayed the same or went down in value. (of course if your paying taxes on the property you would prefer the low valuation) This may mean nothing, because cannot alway link real property value with what the appraisal value is. But this is just an example of how it will be hard to tell where the value will be.
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Old 08-28-2010, 03:45 PM
 
221 posts, read 500,353 times
Reputation: 164
Quote:
Originally Posted by Joer1622 View Post
For instance. the appraisal on all of the Premier Plus and Marquis properties just went up about $20000 this year as oppose to last year while the other DR Horton area either stayed the same or went down in value. (of course if your paying taxes on the property you would prefer the low valuation) This may mean nothing, because cannot alway link real property value with what the appraisal value is. But this is just an example of how it will be hard to tell where the value will be.

What they really did is recover from the 20k they lost in the previous year (2009).
So saying they went up 20k in one year is untrue they just went up to where they had initially been.
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Old 08-28-2010, 04:22 PM
 
48 posts, read 83,000 times
Reputation: 42
sawatchdog, You are correct. but my point was that the other DR Horton properties went down in 2009 and did not recover their value like the Premier Plus and Marquis homes, and the Premier plus and Marquis home will be in short supply soon.
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Old 08-29-2010, 07:23 AM
 
5 posts, read 6,282 times
Reputation: 10
Thanks for the info. I looked up the appraisal value on online and based on this year's appraisal value, the house we would be purchasing is at least $50k below appraisal value. Still debating...
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Old 08-29-2010, 11:33 AM
 
221 posts, read 500,353 times
Reputation: 164
Quote:
Originally Posted by Joer1622 View Post
sawatchdog, You are correct. but my point was that the other DR Horton properties went down in 2009 and did not recover their value like the Premier Plus and Marquis homes, and the Premier plus and Marquis home will be in short supply soon.
Correct, I feel bad for the poor folks who built in the lower end price point as well.


Quote:
Originally Posted by mkl37 View Post
Thanks for the info. I looked up the appraisal value on online and based on this year's appraisal value, the house we would be purchasing is at least $50k below appraisal value. Still debating...

Hopefully the home your purchase isn't listed in MLS if so it will disclose the selling price and screw up everyone else's appraisals should they want to resell within the next 6 months.
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