Home Buying in 75070>Question Details

Holly P, Real Estate Pro in Dallas, TX

Melissa and Anna are really hot areas for investors right now.

Asked by Holly P, Dallas, TX Mon Aug 6, 2012

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The majority of the investors I have worked with prefer cities that are closer to Richardson, Downtown Dallas; these area are generally Allen, Plano, Frisco and McKinney. However, if the area continues to experience the growth we are seeing now, Anna and Melissa may become viable investment options.
0 votes Thank Flag Link Mon Nov 17, 2014
Now these people are eating their words.....lots of activity in these areas now.
0 votes Thank Flag Link Tue Aug 26, 2014
"Activity" does not equate to a great "net" or financial investment.
Flag Wed Aug 27, 2014
Bruce Lynn, Real Estate Pro in Coppell, TX
I disagree also. Because you get a low price does NOT always equate to a great deal. Keep in mind that for appraisal and resale, people generally flock to areas with exemplary-rated school districts. When considering investing for rentals OR for "flipping" make sure your agent shows you the "date on the market" of the area comps. If more than a few days in this hot, hot market, you may want to reconsider the area (for what you're trying to do). I say this because when the market slows...you can usually double or triple that time on the market to show how long your property will likely sit when trying to resale. ***Areas with exemplary school districts :)

-Amy S. Arey
Halo Group Realty, LLC
0 votes Thank Flag Link Wed Jul 16, 2014
I would tend to disagree and especially in Melissa, you need to be careful not to be too close to the landfill. There is an area of Melissa north of the 121 exit just on the east side of 75 that does fairly well for resale. There is a lot of relatively inexpensive building going on in Melissa and Anna now. For me personally, I would not focus there for investment. McKinney, Allen and Plano are all better choices in my opinion.
0 votes Thank Flag Link Mon Oct 28, 2013
It is based on business plan of the investor . Dallas homes for rent on all time high with majority of houses for lease on market for 5 days with multi applications.

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0 votes Thank Flag Link Mon Aug 6, 2012
Not really.... too far out from where many people work.
Cap rates not in line

What would make you say this.

Probably many other areas that are better in most investors opinions.

Plano is probably better....and probably will have better appreciation rates.
Anna and Melissa just have way too many lots available for builders to expand.
0 votes Thank Flag Link Mon Aug 6, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
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