Which town? (Plano, Allen, University Park: real estate, renting, condos)

[mSooner]

Does anyone really think that would happen in Southlake or Coppell? When children move out and houses are 20 plus years old in those areas they will only go down in value as there will always be a "new" area with the best of schools that will people will go to.

Coppell has already been through this...the first wave of families moved out after 20 years and new wave is moving in because the schools have stayed good. So those smaller homes from the 70s and 80s are actually going like hotcakes!

[UptownMango]

Highland Park, Coppell, Southlake, West Plano make sense. I don't really put too much weight in presence or absence of multifamily since I know that I'm paying a monthly fortune for my uptown condo and have friends who pay high rent in Legacy Village. Zoning can change in future if Soutlake attracted any decent size companies as corporate residents and of course they are bound to be forced in accepting some low income housing. In the end location and schools determine future of a town. Soutlake would do good with or without apartments.

[UptownMango]

Originally Posted by mSooner

Coppell has already been through this...the first wave of families moved out after 20 years and new wave is moving in because the schools have stayed good. So those smaller homes from the 70s and 80s are actually going like hotcakes!

Exactly. Coppell and Plano have stable markets and homes will be recycled again and again as Highland Park is just too darn expensive for most buyers and investors. Even parts of Richardson have a very good shot.

[BCB]

My vote would of course go for the Park Cities first, followed by Preston Hollow, and then Southlake. All three are fantastic areas to live in for different reasons.

[HockDad]

You might consider which neighborhoods have room to appreciate based on your SPECIFIC purchase. When I purchased in the Park Cities 15 years ago there were still plenty of tear downs or remodels. Most, but not all, of those houses are gone. (15 years ago approximately 2% (per year) of the Park Cities houses were being torn down or doing major renovations). I purchased a house that was not quite a tear down, but certainly needed work. After putting 200k in the house we sold it for substantially more than we paid (including the renovation costs).

Personally, I think there are similar deal right now at Preston and Forest (not quite Preston Hollow). There are plenty of ranches that you could expand for 300-500k and have a reasonable chance of excellent appreciation.

[dfwuno]

Yes homes maybe recycled again and again but does anyone really think there will ever be any rebuilds in locations like Coppell? And because of that values will at some point decrease with or without good schools. Plano is a good example of such neighborhoods going down hill and still with a well respected school system. With children yes I would live in a town with a good school district but once they left I would too.

[dallasdoughnuts]

Definitely Dallas, East Dallas, North Oak Cliff and some parts of North Dallas are ridiculously under priced. With the rising cost of gas and traffic being terrible in general everyone will come running back into town shortly.

[CMC_TX]

Originally Posted by UptownMango

Highland Park, Coppell, Southlake, West Plano make sense. I don't really put too much weight in presence or absence of multifamily since I know that I'm paying a monthly fortune for my uptown condo and have friends who pay high rent in Legacy Village. Zoning can change in future if Soutlake attracted any decent size companies as corporate residents and of course they are bound to be forced in accepting some low income housing. In the end location and schools determine future of a town. Soutlake would do good with or without apartments.

Disagree. Uptown is a different rental market than a suburban area. Uptown is comprised of a disproportionate number of roommates, young professionals without kids, etc. Not saying that's everyone, but the apartment rent is higher than almost any suburban area in Dallas and suburban apartments are going to trend more toward a demographic with kids.

Have you not seen all the run-down apartments in the suburbs that start at $700/month for a 1-bedroom? Shops at Legacy is not anywhere near Uptown prices and mixed-use apartments do not typify the majority in any respect.

Southlake doesn't have the land area for multi-family apartment complexes anyway, so no, I don't think they'd be bound to accept some low-income housing.

[mSooner]

Yes homes maybe recycled again and again but does anyone really think there will ever be any rebuilds in locations like Coppell? And because of that values will at some point decrease with or without good schools. Plano is a good example of such neighborhoods going down hill and still with a well respected school system. With children yes I would live in a town with a good school district but once they left I would too.

Not like the Park Cities, but the Park Cities are really a whole different ballgame than the rest of the options up there. It's unlikely the same investor will be interested in both. I voted the Park Cities, but that doesn't mean I can afford it!

There have actually been quite a few rebuilds in Coppell, especially on the larger lots.

[EbbyWorkday]

My BIL works with an international relocation company and most clients buy in Highland Park, West Plano, Southlake and Coppell depending on their work location. My own experience says that Highland Park is out of 95% people's budget so Southlake, West Plano and Coppell are major players with their locations and schools and will be as long as they keep school rankings high.