McKinney, Allen, or Frisco? (Houston, Dallas: cul-de-sac, transplants, foreclosures)

[flowergal00]

Hi,
We will be moving to the Dallas area during the summer. We are looking in the 350-500K range, but want to ensure we buy in an area that holds it value (I'm from the Houston oil bust). Excellent schools are paramont, as we now live in California and we are tired of our schools not getting adequate funding! We also are spoiled by living in a beautiful area now near vineyards and a cul-de-sac lot. We are ideally looking for 1/4 acre lot, new constuction, and not be up against a busy street (the homesite, that it). Husband will be working off 75 in Allen, so would like his commute to be fairly painless, since every other commute we've ever had has been too long. The ones that look interesting to me are Stonebridge in McKinney, Montgomery Farms or Star Creek in Allen, totally confused about Frisco. Too many options, but not exactly what we're looking for yet. Thoughts?
Thanks!

[Lakewooder]

Foreclosure map: http://www.dallasnews.com/sharedcontent/dws/img/04-07/0406foreclosures.pdf (broken link)

Also: Suburbs share foreclosure woes | WFAA.com | Business (http://www.wfaa.com/sharedcontent/dws/bus/stories/DN-foreclose_31bus.ART0.State.Edition1.36d5c91.html - broken link)

I lived in Houston during the oil bust too...

[FarNorthDallas]

Twin Creeks in Allen.

[MaryS80]

Texas has had some school funding issues. The state came up pretty short of funds two or three years in a row. I believe that was solved with the recent $1 a pack tax on cigs. There is also this nice little thing called Robin Hood, in which money from wealthier districts is siphoned into poor ones. It certainly didnt benefit the poor districts, and left parents in wealthier ones digging further into their pockets. I don't know if the Robin Hood plan is still used, but it certainly is/was a load of ****.

Anyways there definately lots to do in the McKinney/Allen/Frisco area. They are all in close proximety, and should all retain their price pretty well. Frisco is very popular right now and growing like crazy, but it still has plenty of room to grow. I have not been to Allen in several years. It's a bit more of a bedroom community.

[rgmills25]

If I were you, I would also check into Lucas and Fairview(East of Allen). Both are more rural and there is a greater chance of having a larger lot. The school district seems to be well funded as well. Very nice looking schools in the Lovejoy ISD.

[socketz]

Stonebridge Ranch (SBR) will be built out in less than two years and will remain the most desirable place in Mckinney to live for years to come. Once you visit, you'll see what I mean firsthand. Schools are excellent and if you buy in the new area over on the west side, Allen is just to the south of you. SBR feels very remote (I call it upscale rural) and is not IN the thick of things, yet it is very much on the EDGE of everything (i.e. 5-10 miles from anything you want). Which is how many of us transplants from CA prefer. I could write a book on all the good things going on there that will influence value, read some of my old posts and PM me if you have questions.

Frisco is nice as well, stay in the Teel/Lebanon area to the SW if you buy there. Different feel there for sure, more of a yuppie (I hate that word) feel. I decided against Frisco because I felt everything was already priced for the tollway extension to the 380 and it is really hard for the new developments to definie their own identity, which means resale may not be as good (my window is 2-3 years). For a Stonebridge like community in Frisco, take a look at Starwood and Stonebriar (these however will cost alot more than SBR). In Frisco I think 2 years ago you would have made money there, now, I think the best parts of the appreciation curve are past.

I like Allen 3rd within this group as I feel like it seems like an extension of Central Plano, not bad at all, but less eventful than the other 2. I like it still. The two areas you mentioned are good for new construction, but the prices there have went up a bit high in the last 6 months and I think you get alot more for the dollar just a little north in SBR. I like Twin Creeks the best in Allen.

As Lakewooder mentioned, there are pockets of foreclosures in all of these northern Collin county areas. Most of these foreclosures are centered in the sub-200k range and any good Realtor will be able to tell you where they are (i.e. Grayhawk in SW Frisco, a few areas in East Frisco, Craig Ranch in Mckinney, etc)....in your price range, foreclosures are far less of an issue. Again, PM me if you need any specifics or a recommendation for a good Realtor that can help you with these things.

Buy to sell is the motto here, and you do have to be very careful when selecting a new home.

[kaykay]

Originally Posted by FarNorthDallas

Twin Creeks in Allen.

I also like Twin Creeks very well. Sun Creeks south of Twin Creeks is nice too.
We particularly like the area in Allen (in Sun Creeks) on and close to a street called Rollins. (These areas are not new construction but IMHO much nicer than most new construction because of the setting and neighborhood around them. I think Sun Creeks has some new construction but this is not the area I like so much.)

[TXprincess]

As mentioned above Fairview and Lucas would be great locations for you. Larger lots and great Lovejoy ISD. Two large shopping developments will open this year in Allen. One at 75 at Bethany and the other 75 and Stacy.
Bethany includes PF Changs, Mi Cocina, White House/ Black Market, Ann Taylor Lofts, Francesca's and a Borders
Stacy location (actually on the East side of 75 in Fairview) will be an outdoor "village" similar to Firewheel with Macy's, Dillard's and The Container Store being anchors.

[socketz]

Originally Posted by TXprincess

As mentioned above Fairview and Lucas would be great locations for you. Larger lots and great Lovejoy ISD. Two large shopping developments will open this year in Allen. One at 75 at Bethany and the other 75 and Stacy.
Bethany includes PF Changs, Mi Cocina, White House/ Black Market, Ann Taylor Lofts, Francesca's and a Borders
Stacy location (actually on the East side of 75 in Fairview) will be an outdoor "village" similar to Firewheel with Macy's, Dillard's and The Container Store being anchors.

A similar mall (attracting same type of tenants) will open in Mckinney where the 75 meets 121 (Bridgestreet is the name, see the link below).

McKinney (http://www.bridgestreetmckinney.com/ - broken link)

This one will also include a an upscale Westin Hotel, which is something that's needed along that stretch of highway (also good for taxes).

[onrway2clt]

Originally Posted by socketz

A similar mall (attracting same type of tenants) will open in Mckinney where the 75 meets 121 (Bridgestreet is the name, see the link below).

McKinney (http://www.bridgestreetmckinney.com/ - broken link)

This one will also include a an upscale Westin Hotel, which is something that's needed along that stretch of highway (also good for taxes).

Dude you are sucking me into Mckinney now