With one of the highest home sale averages in the DFW Metroplex, Prosper, TX is a hot commodity.Â But, don't assume there are no affordable housing options in Prosper, Texas.Â Luxury homes are defined in DFW as homes with a price over $350,000.Â In Prosper, I consider the luxury market to start at $300,000.Â But, all of these Prosper neighborhoods contain homes that are much more affordable:
Legacy Homes is down to a single spec home left before they are all closed out in Glenbrooke.Â D.R. Horton is still building.Â Starting in the $140,000's, this neighborhood sits on the Western edge of Prosper, next to the Savannah master-planned community.
Originally a Centex master-planned community, this neighborhood was sold by the company a couple of years ago.Â Homes listed in this neighborhood typically start in the $170,000's.Â
Hillside and Valley View
What we refer to as 'original Prosper', or the downtown area.Â Homes built in the 1960's to current construction, with no HOA.Â Currently, listings in Hillside start in the $120,000's.Â Valley View listings start in the $140,000's.Â
Rhea Mills Estates
These acreage properties are not govered by an HOA.Â Typically built post-1990, this is a great neighborhood to consider when you'd like an acre or more of land and a price tag starting around $200,000.
Cedar Ridge Estates
Originally a K. Hovnanian neighborhood, Bloomfield Homes came in a couple of years ago to finish out the subdivision.Â Homes in this neighborhood, which is centrally located on First Street, just East of Preston Road, start just above $200,000 for single story home built this year.Â If you are looking for affordable new construction, then touring both of Bloomfield's modelsÂ is a must.Â If you have an interest in a home with the same great location, but more upgrades, I have the former K. Hovnanian model home listed at $429,000 in Cedar Ridge Estates.Â
If a home with just under 2,000 square feet of living space is more to your liking, and you like lots of land, then Collin Green listings currently start at $210,000.Â That buys you a 1997-built, single-story home on just over an acre.Â Personally, I like a reasonably sized home with lots of outdoor space.Â Collin Green is a great value, and has no HOA.
From $212,500 - Preston Lakes is a neighborhood that currently starts lower than it should, due to having a couple of distressed properties.Â That $212,500 buys you a home over 3,600 square feet, built in 2003, with a 3-car garage and a lot size of more than .30 acres.Â That'sÂ phenomenal buy for a real-estate owned property (REO) that is no impacted by any foreclosure freeze.Â Preston Lakes does have an HOA of $150/quarter.
Trails of Prosper
Trails of Prosper homes currentlyÂ listÂ startingÂ below $225,000.Â Â New and resale options are available in this central Prosper community.Â Lot sizes are mostly in the quarter acre range and the HOA is $350/year.Â There is also a mix of 2-car and 3-car garages in this subdivision.
Village at Prosper Trail
Megatel Homes just started building in Prosper this year, and they have home listings currently from $229,000 for a 4-bedroom, single story home with almost 2300 square feet of living space.Â Getting an EnergyStarÂ certified home for under $250,000 is pretty amazing!
Lakes of La Cima
What?Â One of the prettiest master-planned communities in Prosper is on the affordable housing list?Â Yes.Â Homes on the East side of La Cima Boulevard currently list from the $230,000's.Â Â Keep in mind that with 3 stocked lakes,Â 2 playgrounds, community pool, party gazeebo,Â and 40 acres of greenbelt space, Lakes of LaÂ Cima's HOA is just under $200/quarter, so some who are looking for affordable housing may have to rule it out of theirÂ search.Â But, as a resident of Lakes of La Cima, I can attest that the value of those HOA amenities to my family are priceless.Â I took a 30-minute walk this afternoon down to one of the lakes to feed the ducks and around past one of the parks (where a family was flying kites today), and that isÂ a welcome daily respite from the stresses of my day.Â I wouldn't trade it for anything.Â
Located off Preston Road, just North of Broadway, Stone Creek homes were mainly built in the early 2000's and currently start in the $230,000's.Â This is a great subdivision for folks who don't require a community pool and want a little distance from their neighbors (lot sizes are mostly around .50 acres).Â Also, the HOA is an affordable $300/year.Â Comprised of only a few streets, I would describe this as aÂ niche neighborhood.Â
Another acreage community with no HOA, Bradford Farms is a great option for those who want more of a country-living experience in an area with superb schools.Â Starting from $250,000 for a 4-bedroom homeÂ built in the late 1990's, withÂ aÂ little over 3,000 square feet of living space, and a full acre of land, Bradford Farms definitely makes my 'affordable' category.
Raewood on Preston
More acreage choices with no HOA in the heart of Prosper, Raewood is located off Preston Road and Preston Trail.Â Starting in the $250,000's, this a great choice for all the conveniences in Prosper and the land associated with country properties.Â Most lots are just over 1 acre of land.Â
Gentle Creek Estates
A golf community in Prosper with homes currently starting in the $250,000's, Gentle Creek Estates is situated between Prosper Trail and 1461 at Coit Road.Â We refer to Gentle Creek as 'sought after' in much of our marketing, because it is often the reason people start to search for homes in Prosper, TX.Â With a top home sale price well over $1 million, it isn't what we would refer to typically as an affordable neighborhood.Â But, some of the smaller, single story homes do fit the category.Â With an HOA of $780/year, this factor may rule out the affordability factor for some buyers.
So, the next time you hear someone say that they'd love to live in Prosper, but the homes just are too expensive, remind them that the advertised average price is just an average, and that there are plenty of affordable housing options in Prosper, TX.
Have a blessed day!
Ronda Allen - Realtor
Certified Purchasing Manager - C.P.M.
Short Sale and Foreclosure Resource - SFR
Texas Affordable Housing Specialist - TAHS
CEO of comingsoonhomes.com since 2005
Activerain.com #1 Realtor in Prosper, TX and Top 130 in Texas! (10/2010)
RE/MAX Dallas Suburbs #1 OfficeÂ for RE/MAX in theÂ North Texas region 2009 and 1st half 2010!
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