Opinions on this Las Colinas property.. (Dallas, Irving: for sale, real estate, HOA) - Texas (TX) - City-Data Forum

MovingtoDFW · 09-24-2013, 08:59 PM

Real stucco, 2940 sq ft, mostly single story 3bdrm 3 bath, listed at 390K, $133 / sft, 1998 built Metropolitan home in Hackberry Creek HOA. It is listed at $10-15/sft more than similar properties in the area.

Opinions on the home, price and resale potential appreciated! Thanks for reading.

2403 Huntersridge Dr, Irving, TX 75063 - Home For Sale and Real Estate Listing - realtor.com®

frenzyrider · 09-24-2013, 09:11 PM

Nice looking house but I might have to change several things in the interiors due to my weird tastes. I would say you should carefully understand why is it listed for 10-15 sft higher than the comps. Make sure you get the answer and post it back here. There could be many reasons such as pool, larger and preferential lot location, latest upgrades already made, etc. make sure you know the reason and agree to it.

Also, if it real stucco it may be harder to maintain the look... But technology has improved so who knows.

Squirl · 09-24-2013, 09:23 PM

Single story on a 1/3 acre lot with really nice outdoor area. No pool.

MovingtoDFW · 09-24-2013, 09:28 PM

Thanks - you make good points.

I am told it is 'real stucco over concrete block stuffed with insulation', that it is "piered slab" foundation (which apparently has the better qualities of both foundation types) - all of which cost overall $50K more to build than similar homes in the neighborhood. It also has an outdoor kitchen and complete media room.

Quote:

Originally Posted by frenzyrider

Nice looking house but I might have to change several things in the interiors due to my weird tastes. I would say you should carefully understand why is it listed for 10-15 sft higher than the comps. Make sure you get the answer and post it back here. There could be many reasons such as pool, larger and preferential lot location, latest upgrades already made, etc. make sure you know the reason and agree to it.

Also, if it real stucco it may be harder to maintain the look... But technology has improved so who knows.

jdallas · 09-25-2013, 07:47 AM

That media room is just a screen with a couple in walls (horrible proportions, poorly placed windows, no acoustic treatments etc.). It should not be valued more than a standard bonus room above a garage.

The house itself looks like a production builder home finished with fairly base level finishes for a family that moved here from Florida (all the beige tile in the living areas and stucco exterior). It has good front curb appeal but the backyard being open to the neighborhood would be an issue for me.

Overall, it seems overpriced and I would expect to lose money on it if I thought I might relocate within 5-6 years. After all, I would have to make significant changes to the property to the tune of about $25-50k

Pretty scathing but there are so many better options at that price point.

MovingtoDFW · 09-25-2013, 08:09 AM

I agree with the backyard being open. We plan to put a privacy fence all around. To be fair, the home looks better than the pics allow. Not very knowledgeable about the rest.

Just curious - what would be included in your 25-50k renovations?

Quote:

Originally Posted by jdallas

That media room is just a screen with a couple in walls (horrible proportions, poorly placed windows, no acoustic treatments etc.). It should not be valued more than a standard bonus room above a garage.

The house itself looks like a production builder home finished with fairly base level finishes for a family that moved here from Florida (all the beige tile in the living areas and stucco exterior). It has good front curb appeal but the backyard being open to the neighborhood would be an issue for me.

Overall, it seems overpriced and I would expect to lose money on it if I thought I might relocate within 5-6 years. After all, I would have to make significant changes to the property to the tune of about $25-50k

Pretty scathing but there are so many better options at that price point.

frenzyrider · 09-25-2013, 08:16 AM

I would have to agree with jDallas. Nothing unique in my opinion. Piered slab foundation is not unique. Go check any foundation that is being poured today and it is piered slab. I think the owner might be trying to confuse you by passing it on as "pier and beam" which is very different foundation and will cost you about $30k more I agree but since it is concrete block there should not be any premium. Media room is nothing to write home about. If you want to see how a complete media (without equipment) looks then go look at any new home. Media rooms are overrated in my opinion but in any case the sqft is included in the house and as such has been priced. No point in double dipping. The backyard is not at all private but I think it depends on your taste. Ok may be they paid less than $10k for outdoor living that should only get them $3k more in reselling IF AND ONLY IF none of the other comps in that area has outdoor living.

At the end of the day it is Las Colinas with significant soil movements so I would say you can get great homes elsewhere at that price point. I know you probably love the curb appeal so choose what you need most... While you are at it, check whether any pool company will warranty a pool in the backyard... that should tell you a lot about the soil.

PlanoGirl · 09-25-2013, 08:16 AM

$10-15/sq ft higher than similar properties...so that's about 30K more for that home based on its square footage. Does it seem like it has 30K worth of upgrades to comparable sized houses in the neighborhood? Nice interior lot, decent sized...though the shape of the lot, house placement, and fence line make the size yard a bit of wasted space. Kitchen and bath are nothing special, just "as expected"...so the money's not there. Agree with PP about the media room...pretty much a room with a big TV (that I assume they are taking). Backyard and outdoor kitchen is nice, but that doesn't look anywhere near 30K to me, especially since it isn't a completely shaded patio. Are you ok with the contemporary style of the interior? I mean, some stuff can be changed easily (though again, it's money) but that fireplace will be more pricey if it's not your thing. But if you love it, then I would put that in the plus column.

So, I'd try and get the price down a bit if the comps are really that much lower. But if you really like the property, the location, and the finishes, then it's really up to your comfort level. Good luck!

MovingtoDFW · 09-25-2013, 08:24 AM

Thanks for all the feedback. All good points.

No, we do not like this property enough to pay a significant premium to what the market supports. Also, the property was sold in pretty much the same condition in (pre-crash) 2008 at 379K.

So, what do you think would be a fair price for the property? Yes I am aware of the limitations of estimating price without having seen the property, still. Thanks!

frenzyrider · 09-25-2013, 08:33 AM

I will not speculate because I don't want to do disservice to an owner. If I were you, I will talk to my realtor and compare the features of nearby comps to arrive at a price. For example, if none of the comps have outdoor living then I might pay a 1 $/sqft more for the outdoor living. Similarly lot location, curb appeal etc will come into the picture. I would take out $5-8/ sqft for the backyard because putting a nice landscaping with privacy fence (depends whether HOA has restrictions) can run into $20-25k...