Also, remember that the Builder PAYS for title policy/insurance here in North Texas. I made the mistake of getting conned by Meritage and they threw in the title policy charges at closing. Cost me roughly about 2-3k, bad business practice by Meritage Homes. (Beware!!)
Feel free to contact me if I can be of any assistance as some parts of Frisco are developing and appraising more quickly than others.
-Amy S. Arey, Realtor
Halo Group Realty, LLC
Keller Williams Dallas Preston
Average ( SalePrice / SqFt ) : $86.77
I agree with most of the answers but nobody mentioned the interest rates.
Last week the Fed told us that growth is better than they would have predicted 6 months ago signaled by greater consumer spending, durable goods purchases and some signs of increased investment. Then, this week, the Empire Manufacturing Index showed continued growth, jobless claims were better than expected, existing home sales continued to show improvement despite the doom and gloom in the media, leading economic indicators came in better than expected, and China continued to show strong growth in their economy which is a huge driver in the global economic recovery.
All in all, a good week for economic reports which means a bad week for interest rates. Remember, as the economy grows, so do inflation worries. This forces investors to raise their rates in order to recover what inflation will take away from the future value of the dollar.
A small rise in interest rates can mean tens of thousands of dollars over the life of a mortgage.
You will find a free 63 page first time homebuyers guide
As for builders, Frisco is down 26% in new home starts the first 6-months of this year. Most builders are negotiating on existing inventory, there are some great deals on new homes.
Builders do offer Realtors incentives for selling new homes, which can be passed on to you as a buyer at closing to reduce your costs.
We have already had one builder in North Texas just stop building. They are honoring their warranties and that is it. Please know that I don't usually use scare tactics to bring people to my door. This is more for your FYI. I have a friend who lives in Creekside-nice house. Buying decisions are so specific to the individual needs. How long do you plan to be there? Are schools an issue? Ammenities? Floorplans? Special needs? see how it is hard to answer in a forum for this type of question? REALTORS are buying now! The best simple answer to your question really is this: It depends!
We handle many emails and calls in regarding a buyer and home builder "fall out" off what the buyer thought the builder was suppose to be doing
Frisco foreclosures are quite of few we specialize in foreclosures I have seen many new construction
Contact our office or visit our website, we look forward to working with you !
I have a nice house in Frisco I could sell you FSBO and if you don't have a realtor, you will save even more. It has water view in Heritage Lakes, 3 bdrm, 2900 sq ft., gold course, etc., etc. If you send me your email address, I'll send you a detail description with pictures.
I agree with Bruce and Sandy, now is really the best time to buy. We have been lucky here in the DFW area where our market hasn't been affected much with the decline in the property values such as other markets. Frisco has A LOT of homes on the market. Creekside at preston has 31 homes on the market and I am not counting the homes F&J and Choice don't have listed.
You probably don't want to limit yourself at looking just at the new ones, there are several on the market for resale where the homeowners have done a lot of upgrades that you wouldn't have to pay for.
If you are not working with a Realtor, I will be very happy to guide you through and show you some pre-owned homes so you can compare. I make it my job to educate my buyers on the process so you can make educated decisions. My services don't cost you a thing either.
Interest rates are at an all time low, in most markets there is more inventory than there are buyers making it an extreme buyers market. Not only do you have lots of choices, but you have a lot of negotiating power as well.
My husband and I are a team and we just attended the CRS-Certified Residential Specialist Convention in Oahu, Hawaii with over 900+ agents in attendance from all over the nation and Spain. Although all of our local markets are different, the underlying theme was we are all in a soft or declining market where Buyer opportunities are endless. Another topic of conversation was "Why wait?" who knows when the bottom of the market will hit and when it is back on the rise it will be too late. Wouldn't it be better to buy one day early than one day late? Yikes!
Best wishes with your buying experience and again...make sure to find a local trusted source to help you find the perfect property.