question17, Home Owner in Round Rock East, Round...

do you think forest creek in round rock texas is begining to slide in value? more and more lower priced homes have been built...or is it still strong

Asked by question17, Round Rock East, Round Rock, TX Sun Mar 13, 2011

trying to figure out if forest creek will continue to go down in value or stabilize compared to other neighborhoods such as avery ranch, walsh ranch, behrens, ranch.

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3
First quarter sold prices in Forest Creek have been remarkably consistent from 2001 through 2011.

The average sold price in Forest Creek hovers between a low of $260,865 in 2004 and a high of $288,324 in 2007. The average for 2011 (with 1 day left in the quarter) is $277,371.

The median sold price is similarly consistent ranging from a low of $222,500 in 2004 to a high of $255,000 in 2005. The median for the first quarter of 2011 (with one day left to go) is $242,315.

The minimum sold price has also been consistent, ranging from a low of $153,500 in 2009 to a high of $201,020 in 2002. The lowest sold price during Q1 of 2011 was $170,100.

The most variation has been the highest sold price. One home sold for $769,000 in 2007. This is clearly an anomaly since the average for the highest sold price from 2001 through 2011 is $531,862.

All in all, it would be inaccurate to say that home values in Forest Creek are "sliding" based upon 1st quarter figures for the past 11 years. The neighborhood is remarkably consistent.

In any given development, the developer will typically plan on a range of prices calculated to maximize their investment. They will develop premium sections that target the top end and other sections that are less expensive. That is true in Forest Creek just as it is in the other neighborhoods that you mention. The developer intends for the lower priced homes to benefit from the "cache" of the higher priced homes.
0 votes Thank Flag Link Tue Mar 29, 2011
Forest Creek was hit harder than some of the surrounding areas. It's hard to say for certain if values will continue to slid. Honestly it's impossible to ever know we are at the bottom because we only know for sure when prices have rebounded. From there we can look back and say that was the bottom.

It is more important than ever to to buy intelligently in this market. The price yo pay for a home today will dictate how much profit you make when you do eventually sell. Decide where you want to call home and study the market and work with an agent who can help educate you not only on the market but how to make wise buying decisions.

Good luck to you.

Don Groff
REALTOR | Mortgage Broker | Consultant
Keller Williams Realty | 360 Lending Group
512.669.5599
listings@dongroff.com
0 votes Thank Flag Link Mon Mar 14, 2011
My educated guess is that the area will continue to drop, probably not much more but some. This year will see more foreclosures than last year. The banks are getting more ameniable to short sales and the numbers of both those are on the rise, so property values will be affected all over, not just Forest Creek.
0 votes Thank Flag Link Mon Mar 14, 2011
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