Housing de-evaluation in Castle Hills (Lewisville, Flower Mound: sales, foreclosures, home builders)

[TeachTX]

I have another question about Castle Hills.

One of the things we are trying to understand is why there may be no de-evaluation of the houses in Castle Hills from pre housing fall in 2008 to now. Everywhere we looked, comparing to the 2008 prices, the prices now are lower. But not in CH. What makes me nervous is that I don't see a reason for the housing in CH NOT to go down. It's not land-locked. The schools are decent but far not Coppell/Southlake good. Is CH a mini housing bubble where the prices are still rising/not falling but for how long? are we looking at a drop in the near future?

[Rakin]

You get a lot of value for your money in CH. I would speculate there has been some lower values in the higher priced homes.

It's all about demand which has been decent in the area. I don't see any lowering of values in the future. Our spring selling season is starting and since Jan1 there has been good activity. Unless something major hits, I'd gamble DFW has seen the bottom. There are a lot of people moving here needing houses.

[txgolfer130]

The bang for the buck in CH is amazing. I'm sure there is some drop in CH, but I wouldn't expect much at all. Prices may not appreciate rapidly, but the CH as a whole has sustained home values rather well. Living in CH is a lifestyle, and a lot of people want to live there, hence the support for the values.

[hakalatx]

As a whole, I think housing has maintained its value in the Lewisville Independent School District area. A banker recently confirmed this. He did not have a single foreclosed home to sell.

[adixyz]

LISD is huge and under rated due to the number of schools from different 13 Towns. As a result its overall average performance appears lower than small school district like Southlake, Coppell or HP but many of the schools in LISD are comparable or better than them.Towns like Flower Mound or many of the 13 Towns can create their own independent school district but prefer to be associated to LISD due to the high Admin costs.
Folks looking for houses in LISD communities should evaluate individual school performance in the Town under LISD instead of looking at the overall LISD performance. Overall LISD is an excellent school district and given its size its performance and management is really good.

[Nimodo]

What data are you basing your lack of devaluation on? I look through there on Trulia frequently and there are plenty foreclosures. The asking price on listings hasn't been adjusted downward much, but those houses are sitting for 180+ days many times, so depending on how motivate the seller is, they probably realize no one is going to offer near asking.

[racehorse]

We moved to CH in December and I have been following the market here for a good six months.

I think prices have fallen from the peak in 2006. The same is true of a lot of places around here. On the whole, CH remains a desirable place to live and there aren't any comparable neighborhoods nearby. The houses still seem to command a premium compared to developments south and and west of CH.

[Flygirl737]

Prices have dropped in CH...we are buying a home for about 30% less that what it was valued at in 2008. Lots of foreclosures as well. The new home builders are even offering all kinds of incentives since their sales are down.