Right now, the new residential development at Prosper Trail and west of the Dallas North Tollway has Grand Opening prices homes with 55' lots starting at $374K, 1,800 s.f. to the east up to Celina's city limits to the north. "Here's the buying signal for new home purchases right now, yes any new home that can be purchased at $400K or close to it is a great deal! The best area is bounded by Hwy 423 to the west Hwy 380 to the north and Custer Rd. The Prosper School District has been most recently recognized as similar in quality to Frisco's School District. Primarily, the familiar supply and demand theory caused by the # of relo's choosing NTX, the dramatic boost in lumber, labor and material costs and of course the new DNT extension crossing Hwy 380 headed north to Celina, TX. There are some nice homes and neighborhoods/communities in prosper. Does the MUD/PID taxes come into play? So, since there are no mud/pid in star trail, do they get away with a higher priced home? Seems that the demand by people moving in from out of state creates a willingness to spend more because of what they’re used to versus locals. I’ve wondered about why the Star Trail homes are much more than other surrounding areas. If your neighbor was expecting to sell 3200 sq ft house close to the price of 4k - 5K sq ft home, then good luck it won't happen in any community unless 3200 sq ft house has way higher equity on remodel/upgrade only then buyer may come and pay more. One thing I know for sure is that if house is priced right to sell then buyer will come and make the offer in this market. The previous owner took a bath when selling it, comps/sq ft killed it. it's one of the few on the street with less than 4k sq feet (3200 sq ft.) That's a decent sized home, but when it's flanked by 5000+ sq ft homes, it sticks out. From what I've seen, homes that deviate from that too much stay on the market a lot longer and usually go for a lower percentage of asking price. In my neighborhood for example, the average price is probably $625-650k. In my experience, resale in a neighborhood comes easier when the home prices are similar and there are no outliers. There are 5-6 different builders there, and if I were looking to buy there, I might be concerned about price discrepancies between homes, which could vary by hundreds of thousands. Most of the discussion about Prosper still centers on everything east of Preston and retail along 380. Not much info on it yet really, and I live in Prosper myself.
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