Shaddock Park is just one of several communities that were hit hard by a combination of to much builder inventory, loss of reserves or down payment funds in the shrinking stock market, buyers concerned about keeping their jobs, tightening of lender restrictions and the general economy.
However, Shaddock Park has lots of foreclosed builder inventory if you don't mind not having a builder to go back to for new home fixes. Sotherby was a good builder. They just were overextended in the luxury market and had a parent company to disappear into. These homes have 1/3 acre lots which is large for many area developments. There are some good deals here but with several foreclosures, new construction sales and lots of vacant lots, your investment will be competing with that market for a while in this subdivision. This is a good opportunity, but if you get transferred every year or two, it may not be the best investment. If you are looking at a longer investment, then this may be the right time and the right place.
Shaddock Park has great access to 121 and HWY 75. It is just a few minutes from new shopping centers at Stacy and 75. That area is also the site of the new Allen Events Center, home of the Allen Americans, the newest club in the Central Hockey League. A theater and fitness center are located at Watters and 121.
Of course there is no shortage of homes above $450,000 in the McKinney, Allen, Frisco, and Prosper areas. So look at Shaddock Park as a starting place. There is something here for any taste and pocketbook. Twin Creeks in Allen is more established. So is LaCima Haven and Tanglewood in McKinney. If you want larger lots like an acre or more, go up to Prosper. You may want to add your own features like an outdoor kitchen or pool, but there are many homes in more established areas that already have these toys in place and it is a buyer's market anywhere in this price range.
Best wishes with your search for your new home!
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911