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Old 02-11-2016, 05:49 AM
 
Location: Dallas, TX and Las Vegas, NV
7,394 posts, read 6,538,330 times
Reputation: 17215

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Is anyone familiar with the Village center area of Colleyville? I have a friend who asked my opinion about buying a 2 bedroom condo there. Its $390K and 1400 sq feet, but only a single garage. That's not uncommon in Uptown Dallas but wondering if anyone has input to that area.
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Old 02-11-2016, 08:37 AM
 
Location: Kaufman County, Texas
10,954 posts, read 23,720,290 times
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The Village area is nice, and it's one of the few walkable parts of NE Tarrant. But that seems like a lot of $ for a tiny condo in a suburb...
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Old 02-11-2016, 09:18 AM
 
Location: DFW
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Yeah, nice area, but I would be scared to death that a condo in the 'burbs would never hold up that value.
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Old 02-11-2016, 11:06 PM
 
Location: Colleyville
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They are so so nice, and the area just keeps getting better amenities, but they sure do seem pricy for a condo...
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Old 02-12-2016, 07:21 AM
 
33,524 posts, read 53,377,288 times
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My thoughts

1--I think there have been problems with selling those condos compared with the townhouses by Southlake Town Center which are usually all sold before build out (from what I have seen)...so think demand is not same level/resiliency as a Dallas one.

2-- what do the comps tell her...and I would want a much longer history/scope than 3 months looking back...

3--I think noise might be an issue there...
46 is VERY busy and the part around the City Center borders a junior high (sort of behind it)...

4--we don't go there a lot but if your friend has a car and expects people to visit say 4-8 at time--
then parking could be an issue...the streets are narrow and there was another section being developed last time we drove through (in the fall so not recently). I think most parking is on-street---no "lots" or larger areas...
Has she been there at night or on weekend to check lighting or parking?

5--Ask her to Google for Colleyville development, Colleyville city manager, or town council
Have read some threads on NextDoor site where Colleyville residents are little leery of collusion between city manager, some council members, and new development...not sure where development is however
Could just be disgruntled residents or could be worth more study especially if this condo is in new development.

6-- that area could e considered walkable--the WalMart grocery is on same side of street and there are restaurants on that side but really most of the business goes on across the Hwy and I would not recommend trying to cross that on foot...

7 has she done any research on the HOA/fees? There has to be one...
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Old 02-12-2016, 09:24 AM
 
Location: DFW
718 posts, read 997,390 times
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The individual who was the mayor of Colleyville when the deal was struck to build the Village and locate city hall there went to work for the developer after leaving office. That's part of the reason why they ended up with 2 town square type developments (one much more suburban and sprawlish than the Village) within a mile of each other, both with municipal facilities included.
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Old 02-12-2016, 06:04 PM
 
33,524 posts, read 53,377,288 times
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Yes--I remember that but that was years ago
The info I was referring to was about the city manager...
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Old 02-12-2016, 06:37 PM
 
Location: Colleyville
1,187 posts, read 1,282,411 times
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The new pharmacy/gift shop/soda fountain is CUTE. We went last week. A friend and I took a group of boys to play basketball on the courts, i returned books, then we took the boys for a soda treat.
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Old 02-12-2016, 07:44 PM
 
Location: Dallas, TX and Las Vegas, NV
7,394 posts, read 6,538,330 times
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HOA fee is extremely reasonable....probably the best value about the place. However, its not unusual for new condos to have low fees (funded by developers) and when all units are sold the fees then normalize to typical rates.
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