Resale in west Allen? (Dallas, Plano: sales, 2014, foreclosures)

[lvrpl]

We're considering buying a house in west Allen (west of 75, generally south of Exchange). Any thoughts on resaleability and stability of home values for this area? A couple of the houses we've liked are in Twin Creeks and Starcreek, and we're generally looking in the ~$400k range now.

Our main concern is being able to resale easily and (hopefully) without much of a loss in 2-5 years. And for reference, we would only try to resale in the moderate chance that my company relocates us (in which chase they'd be overing the realtor commission and transaction costs).

Thanks for any thoughts!

[Rakin]

I had a client buy there about 3 years ago and has seen about a 20% increase in his value. I don't see home inflation slowing the next few years.

But no one can predict the future and the last 2 years have been highly unusual. Usually we see about a 3-5% per year inflation rate in homes.

There are a lot of people moving into North Dallas / Collin Cty areas. Prices should remain good and continue to see above average increases.

[bamaintex]

I bought in Starcreek in late 2012. Based on recent sales in the existing homes, my value has increased by at least 20-25%. I don't count the new builds because my home is 7 years old. The price per sqaure foot of the new builds has gone up more like 30-40% since I was looking.

[keribeth818]

Homes in my neighborhood (one of the ones you are looking at) are selling in days/weeks and already around 10-15% higher than last summer. It's a great location for many of the corporate relos with easy access up and down 75 and 121. Well, as easy as 75 can be these days...Close to all the best shopping and retail without all the traffic. The elementaries and middle schools have great reputations. My kids arent nearly old enough to think about high school but I've heard both good and bad from parents who have/had children there and from alum. I think it depends on your kid and the environment in which they thrive.

[lvrpl]

Thanks for the thoughts so far.

And to be clear, we're not looking for a situation where we can buy a house that will appreciate 20%+ over the next few years (sure, that would be nice, but it's not our goal). We'd just like to have as high a probability as possible that it won't decrease in value and that it won't be particularly difficult to sell it if we end up moving in 2-5 years for my job.

Obviously, west Plano or Coppell is the best bet for this (if we're looking at the north suburbs), but would you think west Allen would be a relatively safe bet also? Thanks!

[keribeth818]

I didn't mean to suggest the appreciation would continue, only that the area is in high demand and if all things stay the same, will continue to be in demand due to location and amenities. We had the same concerns moving here having never lived in a home more than 3 years.

[richard88]

West Allen but Plano ISD would be better.

[Dad0118]

Originally Posted by richard88

West Allen but Plano ISD would be better.

not according to this: http://childrenatrisk.org/wp-content...t-Rankings.pdf

[DalGal50]

Market conditions change so West Plano and Coppell are safer bets. Everyone can find random links to support their opinion but facts remain facts. That's the reason we are staying in Plano though our dollars can stretch more if we keep driving. Celina, Wylie and Little Elm are up and coming but we must not forget foreclosures from 2010.

[lvrpl]

Sure, west Plano and Coppell are the safest bets - we're looking there too but there hasn't been much to come across the market lately in our price range (~$400k, could go up to $430k or $440k if we absolutely need to) and in the neighborhoods we like. And even houses in Coppell and west Plano that we sort of like in our price range are going crazy fast (like in a day or two often), making it more difficult and the likelihood of overpaying higher.

That's why we're wondering if west Allen is a safe enough bet.