Cedar Park or Teravista? (Canyon: sales, real estate, new home)

[Mirage00]

Hi. We are planning to buy a new home very soon, budget of $250,000. square footage of 2500-3000 sq ft. We have looked at Cypress Canyon Vista at Cedar Park and Teravista. We are also considering Silver Oak by Kimball Hill builders. We just want to know of these 3 locations, which one would probably increase in value in lets say 6 years should we wish to sell. Teravsita loks best on paper with all the amenities nearby but I can't help but think selling will be a major problem as there are so many homes in the area.

[jwb123]

I have a neighbor whose parents have moved to TeraVista and they love it - and she loves it, she wishes she would have bought there. Great amenities and a quality neighborhood.

Yes, you will have construction for a while - but a nice home will still sell there. Homes have gone up a LOT there, even from a year ago.

[Mirage00]

Thanks for the input Jenbar... I guess every new subdivision will have construction for a while... We really like the floorplans by Standard Pacific Homes, esp. at Cypress Canyon Vista. But they are the only builders in that subdivision, now is that an advantage or disadvantage? It is also a fairly smaller area as compared to Teravista which is massive. Am I right to assume that I could probably sell my house (in 5-6 yrs) at a better value and faster in a smaller subdivision as I do not have to compete with the newer homes being constructed?

[Trainwreck20]

Am I right to assume that I could probably sell my house (in 5-6 yrs) at a better value and faster in a smaller subdivision as I do not have to compete with the newer homes being constructed?

This has been common subject here lately, and the conventional wisdom appears to be that resale value is hurt by the prescence of available new construction. So I guess the short answer is 'yes'.

[jwb123]

I don't know. I think the short answer would be a 'maybe'.

In sought after master planned communities, such as Teravista, I would think that you could easily sell your home, at a realistic profit, if there were still construction going on.

People want to live there. Period.

The same with Steiner, and other similarly sought after communities, I would imagine.

I would think that a larger community - for some people - would be more appealing, as they have nicer amenities, perhaps a neighborhood school (I know teravista has a school coming in a year, and a second pool about to go up, club house with restaurant, planned social activities, etc). I am NOT a real estate agent... but, as a potential buyer, I would look at that stuff with priority, over a smaller development which can only offer a potentially quick sale. Of course, I am a long term buyer - not looking to move up every few years, too.

Of course, it's also about the house. A nice house, with great upgrades would do fine in either subdivision, I would guess.

[gigi927]

Cypress Canyon Vista is gorgeous - a great area of Cedar Park, and I think Standard Pacific builds a great home with smart floor plans. You're close to everything there as far as shopping as well.

[austin-steve]

In sought after master planned communities, such as Teravista, I would think that you could easily sell your home, at a realistic profit

Avg Sales prices in Teravista:
2003 = $205K
2004 = $231K
2005 = $245K
2006 = $238K
2007 = $253K YTD

The data is hard to trust completely because of new builder homes mixed in and not know what incentives, etc. inflate or deflate the price.

Steve