Landon Homes - Lexington country

[Leonard123]

Originally Posted by nsumner

Landon is not the only builder pulling this on buyers. There's been many lately.

Taylor Morrison in McKinney has a 3 bedroom 2077sf with the "BIDS START AT 533K" no joke.

Even in Waxahachie, builders are doing this. They increased the price by 99K.

The question is... will they increase the price on you once construction starts? What's stopping them?

https://www.wfaa.com/article/news/lo...axKLkz9YW0XMZg

I don't get why the houses in my neighborhood in Stonebridge barely get 10% over list at best even with multiple offers and why the price increases have been so incredibly tiny. Is it really a horrible neighborhood, horrible houses, or just bad real estate agents?

I just keep getting the sense that everyone around me is in much better shape than I am. I feel like my home is completely and totally worthless.

[Rakin]

Originally Posted by Leonard123

I don't get why the houses in my neighborhood in Stonebridge barely get 10% over list at best even with multiple offers and why the price increases have been so incredibly tiny. Is it really a horrible neighborhood, horrible houses, or just bad real estate agents?

I just keep getting the sense that everyone around me is in much better shape than I am. I feel like my home is completely and totally worthless.

Only barely over 10%

You are kidding right? How terrible.

[Kenro911]

Originally Posted by Rakin

Only barely over 10%

You are kidding right? How terrible.

You say that but if average in nation is 23%. Frisco is at over 30% and your house is 10% that is worrying.

You're rolling your eyes but reality is that if he/she ever plans on moving out, they'll face a potential house price increase of 20-30% meanwhile theirs only went up 10%.

So yes I would not roll eyes on that.

[Rakin]

Originally Posted by Kenro911

You say that but if average in nation is 23%. Frisco is at over 30% and your house is 10% that is worrying.

You're rolling your eyes but reality is that if he/she ever plans on moving out, they'll face a potential house price increase of 20-30% meanwhile theirs only went up 10%.

So yes I would not roll eyes on that.

You did read where they were "only" getting barely over list price on their offers?

Not that the neighborhood only went up 10%. There is a difference.

[Leonard123]

Originally Posted by Kenro911

You say that but if average in nation is 23%. Frisco is at over 30% and your house is 10% that is worrying.

You're rolling your eyes but reality is that if he/she ever plans on moving out, they'll face a potential house price increase of 20-30% meanwhile theirs only went up 10%.

So yes I would not roll eyes on that.

That's right. It's horrendous!

[Kenro911]

Originally Posted by Rakin

You did read where they were "only" getting barely over list price on their offers?

Not that the neighborhood only went up 10%. There is a difference.

I did not. I stand corrected. Yes, rolling eyes is justified.

[Kenro911]

Originally Posted by Leonard123

That's right. It's horrendous!

How is that horrendous? You're getting 10% over list price and that's not enough? List price is usually already 20-30% above YOY.

[Leonard123]

The impression I've been getting from reading is that people list at one price and should expect to get these outrageous sums over list. If getting 10 percent over list is considered good, then yes, I would feel a lot more at ease. I don't know if these stories we're hearing on amounts over list are atypical.

The actual neighborhood has gone up 20 percent since last July, definitely not 30. There was really no increase between 2018 and July 2020. Then again, there was also no increase between its construction in 1989 and 2010 or so. That was pretty much all over DFW though in my observation.

[dallas_cowboy]

Originally Posted by TexasNewbie2021

So I made two offers on two homes in Philips creek ranch over the past few days. They both were priced at 650k, 2015 built and I put an offer at 715k. I did not even get an acknowledgment from the buyer of my bid and only got told today my offer was nowhere near the highest.

This market is crazy. Looks like it’s not cooling down. Any new home that would come on market in PCR would now be listed at more than 650k for sure.

Considering the current scenario and the 100k over biddings, I better stick with the price increase on Landon in Lexington, going with the old age “a bird in hand is better than two in the bush”.

Good luck! Wish you have a smooth ride from here with Landon. Make sure you do phase inspections... I have heard from many buyers that recently Landon cut corners and deny customers from doing phase inspections.

[hanex1]

Originally Posted by TexasNewbie2021

So I made two offers on two homes in Philips creek ranch over the past few days. They both were priced at 650k, 2015 built and I put an offer at 715k. I did not even get an acknowledgment from the buyer of my bid and only got told today my offer was nowhere near the highest.

This market is crazy. Looks like it’s not cooling down. Any new home that would come on market in PCR would now be listed at more than 650k for sure.

Considering the current scenario and the 100k over biddings, I better stick with the price increase on Landon in Lexington, going with the old age “a bird in hand is better than two in the bush”.

I wish you will have a good experience with them, All the best. As some other user pointed out, make sure this is the last price increase, and that they will not hold you hostage for additional money once the construction begins.

In your best interest, I sent you a PM about another important clause that might potentially impact your contract, do check your inbox.