Deciding Between Allen, Frisco, Plano and McKinney... (Carrollton, West: apartment, for rent)

[tyanger]

Originally Posted by Soon2BTXN

Yea, I noticed that. The funny thing is...the first week he was in that area he found a cricket game and got to play that same week.

There's a group of people I see playing cricket all the time at this field near Alma and Bethany. Was this where he played?

http://maps.google.com/maps - cricket in Allen

You can see the rectangular strip - I don't know what it's called - where most of the action happens.

[Big G]

Originally Posted by tyanger

There's a group of people I see playing cricket all the time at this field near Alma and Bethany. Was this where he played?

http://maps.google.com/maps - cricket in Allen

You can see the rectangular strip - I don't know what it's called - where most of the action happens.

There's also a regular game in the park just north of Shepton HS in Plano.

[Soon2BTXN]

I am not sure.

Originally Posted by tyanger

There's a group of people I see playing cricket all the time at this field near Alma and Bethany. Was this where he played?

http://maps.google.com/maps - cricket in Allen

You can see the rectangular strip - I don't know what it's called - where most of the action happens.

[Soon2BTXN]

Originally Posted by aexchange

I actually live off Stacy and 75 and the traffic coming off that intersection is not bad at all. It gets pretty congested during the middle of the day on the weekends with people trying to get into the Outlet Mall, but otherwise traffic flow in and out of it is fine.

The home we saw was off that area. We did see it during the time you mentioned. Allen was very beautiful. We liked it a lot.

[Soon2BTXN]

Originally Posted by TurtleCreek80

I will just make one more comment and then step away.....


Plano's homes that you did not like are expensive (to begin with) for a reason- LOCATION, LOCATION, LOCATION. Real Estate 101!! You cannot improve the location of your home. There is barely any of Plano left to develop which is why even an outdated home in Plano commands a price premium. The market isn't going to really "turn" in Plano because it never fell. There have been extremely few foreclosures/ short sells in Plano because of the diversity of homeowners (meaning, many have paid for houses, many are in the 10th, 20th, 25th year into their mortgage, not so many have purchased since the "peak" in 2007 as compared to the total).

McKinney, on the other hand, has built nearly 10,000 new homes since 2005 and is only 25-30% "built out"....your home investment is much more risky in McKinney. The amount of "fire sale" homes there over the past several years (since the economy slowed down in 2007-2008) has depressed values FAR MORE than Plano felt. Plano, for reference, has only built 2,800 new homes since 2005. Plano a city whose population is over 2x that of McKinney has only built 1/3 the amount of new homes since 2005.

For fun, I looked up a 3-4 homes for sale in both McKinney AND Plano at the $250k pp. Here is how the total price breaks down in terms of % of value in LAND (which generally only goes up) and % of value in HOME STRUCTURE (which is a depreciating asset and only goes down):

McKinney- in general, $250k properties are valued at 20% land, 80% structure
Plano- in general, $250k properties are valued at 30% land, 70% structure

Bottom line, the more of your home's value in LAND (which rises over time, particularly in highly sought-after locations), the more protected you are as your Home's Structural Value falls...which it inevitably will.

Thank you again for this valuable information. I do look forward to your answers as I've mentioned before hand.

If Plano's home prices never fell, will it put a person buying a Plano home in need of updating let's say $60K in updates (kitchen and bath) in an unfortunate position if they go to sell within five years? They may make themselves the highest home on their block and may not get all a good percentage of that money back if the market does not turn in the seller's favor.

I understand what you are saying and agree with older homes competing with newer homes and especially with the incentives developers are offering. I would think also that the lower energy bills from double paned, tinted windows, etc. would sweeten that new home buying pot. However, am I wrong to think that even in McKinney there are some established, older communities with older homes that are still up to date that have made a name for themselves as a place where people who want to live in McKinney will seek out first...maybe where those serious about resale will flock to before looking at new homes? I think I was told these are homes near Plano.

[HOAPRESIDENT]

I with you, Soon2B. I would not update anything in Collin County. New is the only thing that sells up there. Then again, that's a reason to avoid Collin County all together and simply rent. Once your house is "used" it drops in value precipitously.

[Soon2BTXN]

Originally Posted by HOAPRESIDENT

I with you, Soon2B. I would not update anything in Collin County. New is the only thing that sells up there. Then again, that's a reason to avoid Collin County all together and simply rent. Once your house is "used" it drops in value precipitously.

Thanks but your message is kind of mixed. I believe home buying when you get a good price and a good loan is an investment. I wish I had all the money I threw away in rent today. I also wish I had the money I threw away in getting carpets cleaned and walls painted to beautify a rental property for the next tenant.

I think out of most of the counties near my fiancee's job, Collin County seems to be the best investment...for us.

[Soon2BTXN]

Well, fiancee did not listen to my suggested offer and we lost the home. It was in Stonebridge.

[aexchange]

Originally Posted by Soon2BTXN

The home we saw was off that area. We did see it during the time you mentioned. Allen was very beautiful. We liked it a lot.

if that's the case, you should heavily consider allen over mckinney.

[tyanger]

Originally Posted by Soon2BTXN

Thanks but your message is kind of mixed. I believe home buying when you get a good price and a good loan is an investment. I wish I had all the money I threw away in rent today. I also wish I had the money I threw away in getting carpets cleaned and walls painted to beautify a rental property for the next tenant.

I think out of most of the counties near my fiancee's job, Collin County seems to be the best investment...for us.

The message you responded to here was not intended to be helpful - it was sarcastic/smarta$$ed