Thanks everyone for answering my question..
I am getting this 2400 some square feet home for 71 per square feet and I said 5-6 years because I dont plan to resell in near future - I might plan to stay a little longer.
Is it a good deal?

Mon Aug 4 2008, 07:47

Hello again Sunil,

I agree with Mark, if you are looking to move in 5-6 years, you would be competing with builders. This is an area that is still growing. If you buy there, make sure you really like it or that you get the deal of the century...

Naima
214-289-8555
naima@sumner-realty.com

Sat Aug 2 2008, 10:39

I have lived in Frisco over 25-years, and think you could expect to get into Meadow Creek for under $80 per s.f.

You are correct, the homes in this community were not constructed with high end upgrades.

From a resale point of view, I think you could do better buying in a different area if you plan to sell in 5-years.

You can search and find local information on my site.

Sat Aug 2 2008, 09:19

Frisco I have worked with many buyers and rentals in the Frisco area. Meadow Creek currently 3 properties on the market for sale average sq. ft. $75. Meadow Creek is a nice area however Frisco also several other areas you may want to consider within the price range. I shown several Frisco foreclosures in the $250K with approx. $20K to 50K equity

Contact my office 972-699-9111 I am Realtor and loan officer.
http://www.lynn911.com http://www.homes-for-sale-dallas.com

Fri Aug 1 2008, 15:49

Hi Sunil,

This is a pretty stable neighborhood. There have been only 20 homes sold in Meadow Creek in the past 3 years. This is usually a good indication that people are happy in the area. In '05, the homes were selling for about $68 - $72 p sq/ft, so it appears to be on the rise.

The average price per sq. ft. that's been selling in that neighborhood is $79. That doesn't mean necessarily that that's what you should offer, though. You need to take into account the age of this particular home, it's condition, how long it's on the market, the seller's sense of urgency to sell the property and all kinds of other information that can help you make an offer that will get you the best deal. You need someone who knows the Frisco area and Meadow Creek at Main and 423. Let me know if we can help.

Happy to help,
Terri Hayley

Fri Aug 1 2008, 11:49

I am glad to see buyer's asking about resale 5-6 years out. So many are trying to turn a profit in 1-2 years in DFW, and we're just not that kind of market in most cases. Equity and positive resale comes with ownership over a period of time. Meadow Creek is a nice community, but unless you've met with a Realtor, gone through a needs determination interview, and previewed some homes so you have a basis for comparison, an approximate price per square foot isn't going to tell you anything useful. Buying a home is a process, and a Realtor knows the process and makes it easier on their client. There are lots of homes available and lots of neighborhoods to choose from. A Realtor who interviews you is going to ask questions that you haven't even thought to ask yourself. That will determine where you need to be looking, and a home tour can take 1-4 hours when you are only looking at homes that truly meet your needs and wishes. Create a list with the amenities your home must have and the amenities you would like the home to have, but are flexible on. Share that with a Realtor and let them guide your search.

Fri Aug 1 2008, 10:58