anyone purchased home in Cedar Park Wilson Trace by Milestone builders? (Round Rock: condominium, new home)

[cdsalma]

Originally Posted by 10scoachrick

So, much of what you say may apply to Wilson Trace; but "poor appreciation" doesn't apply to our condo just across Parmer. Based on sales comps, our condo is worth almost exactly 50% more than we paid 6 years ago. Starting at a much higher number, Wilson Trace may not be able to match that; but...

We didn't buy our place for the appreciation potential and that will only be of real benefit IF we sell.

Originally Posted by srick123

Agreed. Condos at 200 to 300s might appreciate to the extent you mentioned. But in the 500s range, Unless it is in the downtown area I don't see it appreciating much.
Another point is that if the neighborhood appreciates as a whole, then sfh and condo would appreciate but the rate at which sfh appreciate is much higher than that of a condo which are bought for similar pricepoint. If you compare, 500k new home in Wilson trace vs similar priced sfh in Avery ranch (even if it is a older home in morningside), the Avery ranch home would appreciate much higher in the long run.

Originally Posted by 10scoachrick

Again, much truth; but might not be the most important factor to consider. That 15 year-old Morningside house likely isn't anywhere near as energy-efficient or economical to maintain. Will likely have failing windows in the next 5 years, appliances will need to be replaced, etc etc. Roof will be a concern in another 5 years, etc.
For many, there IS a great appeal to being south of the "crick"; so, I would agree that Avery Ranch will likely out-perform Wilson Trace in % appreciation. On the other hand, lots of folks DON'T want to live in Austin.


Right now, all we get for that 50% increase in "value" is higher tax bills.

In this case i disagree with you regarding poor appreciation. They started in 2019 @ $420K and now @ $507K in an year (over 20% appreciation!) and people are still buying! SFH in Averyranch are old and schools are not as great as Wilson Trace. There is a reason people are buying in Wilson Trace at that premium.

[srick123]

As far as schools are concerned, elsa england and pearson ranch were rated higher until this year. I don't believe in this rating. But i would highly disagree when you say schools in wilson trace are better. Elsa and PRMS are newer built schools with state of the art facilities too. Each school has its own pros and cons.

When you talk about appreciation you should take a look at pearson place @ Avery ranch to have apples to apples comparison since they are both new built. Heritage oaks started at 449k in 2017. Now its north of 650k (Just the base price of lowest plan). Few other floorplan have appreciated 300k ish ( nobility plan was 475k now 753k).

People are buying in wilson trace since they all have this craze with new built. If you try to resale something there, thats when the comparison happens. Would buyers prefer to buy 550k newer condo or 500k slightly older SFH in Avery ranch will have to be seen.

Personally, buying a Condo at this price never made sense to me with those high HOA fees as well.

[riaelise]

Originally Posted by srick123

As far as schools are concerned, elsa england and pearson ranch were rated higher until this year. I don't believe in this rating. But i would highly disagree when you say schools in wilson trace are better. Elsa and PRMS are newer built schools with state of the art facilities too. Each school has its own pros and cons.

When you talk about appreciation you should take a look at pearson place @ Avery ranch to have apples to apples comparison since they are both new built. Heritage oaks started at 449k in 2017. Now its north of 650k (Just the base price of lowest plan). Few other floorplan have appreciated 300k ish ( nobility plan was 475k now 753k).

People are buying in wilson trace since they all have this craze with new built. If you try to resale something there, thats when the comparison happens. Would buyers prefer to buy 550k newer condo or 500k slightly older SFH in Avery ranch will have to be seen.

Personally, buying a Condo at this price never made sense to me with those high HOA fees as well.

I wouldn’t spend that either.

And builders charge whatever. I lived in a subdivision where the resales were far less expensive than the new homes.

And lolat Avery being considered old. Our homes pushing 31 yrs I suppose that’s ancient

[srick123]

Originally Posted by riaelise

I wouldn’t spend that either.

And builders charge whatever. I lived in a subdivision where the resales were far less expensive than the new homes.

And lolat Avery being considered old. Our homes pushing 31 yrs I suppose that’s ancient

Ha Ha. You are right Avery is not actually old. Most of these homes are within 10 to 15 years

Exactly my point regarding the resales as well. These builders are minting crazy money and people have a false sense of security that their homes have appreciated that much by seeing the builder selling it for "X" amount greater than the price they bought for. But you will get to see the actual value only when you try to resell your home.

[Daanann]

Okay, so first off. Wilson Trace has small lot sizes and people are buying homes like crazy because of the good schools. Except for that, Milestone builds okay homes but are severely overpriced in all ways.

[10scoachrick]

Originally Posted by Daanann

Okay, so first off. Wilson Trace has small lot sizes and people are buying homes like crazy because of the good schools. Except for that, Milestone builds okay homes but are severely overpriced in all ways.

Milestone and DRHorton have been riding high for about 6 years, with so many other builders dropping out in '13-'14. As I've said before, they are still building quarter-million dollar houses; but you have to pay at least $375K to get one!

I'll bet the Hardi-plank salesperson for this territory is doing quite well !!!

[cdsalma]

Originally Posted by srick123

As far as schools are concerned, elsa england and pearson ranch were rated higher until this year. I don't believe in this rating. But i would highly disagree when you say schools in wilson trace are better. Elsa and PRMS are newer built schools with state of the art facilities too. Each school has its own pros and cons.

When you talk about appreciation you should take a look at pearson place @ Avery ranch to have apples to apples comparison since they are both new built. Heritage oaks started at 449k in 2017. Now its north of 650k (Just the base price of lowest plan). Few other floorplan have appreciated 300k ish ( nobility plan was 475k now 753k).

People are buying in wilson trace since they all have this craze with new built. If you try to resale something there, thats when the comparison happens. Would buyers prefer to buy 550k newer condo or 500k slightly older SFH in Avery ranch will have to be seen.

Personally, buying a Condo at this price never made sense to me with those high HOA fees as well.

2017 is pre-Apple. Apple has definitely made a big impact. You need to compare 2019 Q1 (coz that's when they started) to now if you really want to do so called apples-apples.

yes craze, you mean demand? yes, that is the basic economics and people are paying those prices. just like stocks were supposed to be down now with so many COVID deaths but are charting new highs everyday, you can say all crazy people buying stocks! but at the end of the day it is what it is: stocks are higher, people are paying for the so called condos

[riaelise]

I prefer to buy low and sell high. I was lucky twice to do that. This time, while I didn't buy high and the value has gone up, the original owners have made a boat load selling their homes now.

Also, as I've come to learn, just because homes are selling at those prices doesn't mean it's in the bag equity wise. Until you sell your home, its value is just an intangible number to me.

[shaileshdwivedi]

I guess the demand economics and craze for new home is in play. With so many job losses and income drop at this time of the year, not many cancellation and homes in general are selling fast in Avery Ranch and Brushy Creek.

[115080069]

I just toured the houses. Few things learned:

1. It's the basically the same project with Three Points across Parmer line.
2. House quality is below average for new modern homes. E.g, some doors/tile(small) are the same as homes built around 2000.
3. Floor plans are not idea(personal opinion)
4. Driveway is very limited.
5. Lot is very small.

I totally agree it's way overpriced. Just look at bursh creek to get a bigger, better quality, big lot home.