House Hunting...need Quick Advice (McKinney, Flower Mound: for sale, apartment, lease)

[calgirlinnc]

I've been house hunting in Flower Mound. Surprisingly the heat hasn't killed
me yet but the house search might.

We upped our budget to $490,000. That is all we can do while still putting away a large sum for college and into savings and without touching our retirement. And honestly I feel like that should be enough to find a good house that we could be happy in for 10 + years.

We ran into the outbid problem. We bid $10,000 over asking no contingenciea and we got outbid. The house was nice but honestly it wasn't even in that great of condition.

We saw another house we like OK for significantly less but it is a bit too small. Gorgeous backyard though.

So we sem to have these choices:

1) expand our search to schools feeding into Keller HS. (I really do like Flower Mound though)

2) get less than what we were hoping for house wise but stay in Flower Mound

3) Rent an apartment somewhere in FM so we can register for school and see what comes up for sale

4) do nothing and see what else comes on in the market in the next few weeks

Experts...please weigh in

[UnfairPark]

I would go for number 2. Buyers get carried away while home shopping and their wants and tastes evolve at high speed. Once the process is over, they end up paying more than they planned for homes much bigger/fancier than anyone cares for, in towns they weren't even looking at and with schools they didn't feel comfortable with. At that point, all they can do is consoling themselves with these lullabies.

1. I don't mind longer commute.
2. It's all about parenting, all schools are equal.
3. My family would've been miserable without media room and latest cabinets that other families have.
4. It was a wise decision to go over budget, guests love our house.

[calgirlinnc]

I'm not talking media rooms and such. I would prefer not to back up
to a 6 lane road or a grocery store.

Commute is about the same.

And is Keller HS BAD?

[Austinite76]

Personally, I'd go #3.

Get minimalist and put the bulk of your stuff in storage. Right now is peak "desperately buying" season. Give yourself the flexibility to be able to make a sound decision that doesn't have the level of compromise you're looking at.

Keller HS really isn't bad, but why sell yourself short if you don't have to? Get a 6 month lease somewhere and wait.

[UnfairPark]

Originally Posted by calgirlinnc

I'm not talking media rooms and such. I would prefer not to back up
to a 6 lane road or a grocery store.

Commute is about the same.


And is Keller HS BAD?

1. Those are legit concerns. I would compromise on age of the house or upgrades or floor plan instead of backing up to anything commercial.

2. No but FM is better and you wrote that you prefer it.

[Fiber Guy]

Here in the Frisco, Prosper, McKinney, Celina and Allen area buyers are being wisely guided by their Realtors to just buy new and avoid these ridiculous bidding wars! That way your sales price is locked in and your family does not face the turmoil you are in now.

[sara212]

Get a six month lease and wait it out a bit! That's what we will be doing. The market is beginning to slow down, a few more months and these sellers will have to face the reality that crazy mark-up season is over.

[masonsmom4]

Are houses from 450k to 490k still going into multiple offers? My hood fits in that category and I feel like they sit a week or two before the go under contract. I understand the under 400k still being hot but I thought it slacked off a bit as the price went higher.

[masonsmom4]

Also, if you do the apartment thing, be mindful of the school zoning for the apartment. We did six months at Archstone Lexington when we moved here and had a middle schooler at the time so when I was house hunting I had to stay around the area I was in to not have to change schools. So if you have a few neighborhoods that you like really well try to find an apartment in the same feeder. FYI, Archstone Lexington was very nice and quiet - good residents, six months there flew by.

[calgirlinnc]

Originally Posted by masonsmom4

Are houses from 450k to 490k still going into multiple offers? My hood fits in that category and I feel like they sit a week or two before the go under contract. I understand the under 400k still being hot but I thought it slacked off a bit as the price went higher.

Apparently yes....we saw the house the first day it was for sale. We were the first offer. Not good enough though. And the sellers dragged their feet too, drawing out the multiple offers. Considering the HVAC units were original and from 1999, the carpet needed replacing, and the whole house needed painting, I was uncomfortable going over $490. It did have a gorgeous backyard though.