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Cathy, Home Buyer in Frisco, TX

How is the Frisco housing Market? Is now a good time to buy?

Asked by Cathy, Frisco, TX Wed Feb 6, 2008

I am a first time home buyer looking to build in Frisco. I have a potential home site near Preston and El Dorado. (Creekside at Preston) Is now a good time to buy? If I buy now could the value of my house depreciate - even if it is new? If Frisco is not a good place to buy, where should I look?

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15
As of right now Frisco housing market is BAD! Its a good time to buy though, but dont expect your house vaule to go up anytime soon. I bought a house back in 2006, brand new Meritage home for $269,000 and as of right now I cant sell it for a year now. I even priced it way below market vaule, at $250,000. It is a 3700Sqft 2 story house with a park and pool across the street.

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!!)
1 vote Thank Flag Link Tue Aug 12, 2008
It's a great time to buy if you're looking in an area that has rapidly-rising sales prices ;-)
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
214.901.1341-Cell
http://www.Aarey.HaloAgent.com
0 votes Thank Flag Link Mon Aug 4, 2014
Buy/sell through me and I'll move you for FREE*!!!

*some restrictions apply, contact me for details*

http://www.youtube.com/watch?v=yHqLnD70ggs
0 votes Thank Flag Link Wed Jan 1, 2014
The Frisco housing market is a great place to buy. The face of the market is changing to become a Sellers market.This includes great deals and Million Dollar houses.

Kathy Hines/Broker
Keller Williams Dallas Preston
972-632-6530
0 votes Thank Flag Link Wed Dec 26, 2012
Number of Properties sold in Frisco in the last six months: 250
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.
Please visit:
http://www.facebook.com/pages/Plano-TX-Home-Search/126635117…

You will find a free 63 page first time homebuyers guide
0 votes Thank Flag Link Fri Jan 21, 2011
Frisco is great for buyers at this time. The market has been slow, and many sellers are ready to negotiate. As for home appreciation, I think it will be another 12+ months before we see the market begin to appreciate again. We have to hit bottom before the market will begin to appreciate again.

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.
0 votes Thank Flag Link Wed Aug 13, 2008
Frisco has a lot going for it. One of the things you may not yet know about Frisco, is that about 5 years ago the city decided that they were going to require the new home builders to meet Energy Star guidelines for any new builds so most of the town is "green" from an energy saving standpoint. That can be a huge savings in monthly expenses, if you cooperate and use the "green" energy saving, light bulbs and choose your energy company very wisely your bills per month will be surprising. That said, I agree that having a REALTOR in the picture when buying and building a new home is important, let me share why-yes I am one-which is why I have some knowledge about this process-a builder will offer you incentives to buy, discounts or upgrades to the house, they may (probably will) have not only a lender to "help" but a title company as well and may offer more if you use them. OK fine some are reliable. Let me ask you a question here, who is controlling the transaction so far with the above description? What happens when they don't meet their promises in that situation? This is when most buyers call a REALTOR after they have signed on and are under a contract that will require an attorney to change. Better to find help before you sign for the build out.

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!
0 votes Thank Flag Link Tue Apr 8, 2008
WAIT... you need to get a realtor involved prior to working with a builder

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 !
Lynn
972-699-9111
911@lynn911.com
http://www.lynn911.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Mar 15, 2008
Great place to buy, but buy right. Good deals out ther on new homes. Builders are hurting and need to sell.
Web Reference: http://www.homeferret.com
0 votes Thank Flag Link Mon Mar 3, 2008
Eric, can you send me the details about the house you are willing to sell?
sunilmalik@gmail.com is the email id.
0 votes Thank Flag Link Mon Mar 3, 2008
You new home site is probably at the low end of home prices in Frisco. It is becomong increasingly difficult to find new homes under 250K in this area. The builders you are looking at offer big incentives for inventory homes and upgrades for to be built. Rates are low, you are in a great area. Stay in your new home for more than three years and you will be fine.. You may email me direct for more info. As for looking eslewhere, Prosper is a good place too--but depends on your commute time, schools, etc
0 votes Thank Flag Link Wed Feb 20, 2008
Cathy,

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.

Thanks,
0 votes Thank Flag Link Sat Feb 16, 2008
It is a great time to buy a new home. Builders are willing to cut their margins on homes that are already built. I would not recomend building a home but finding the very best match for you in a builders spec home and negotiating a good deal on it. I specialize in new homes and I am seeing better deals on spec homes from builders than ever before.
Web Reference: http://www.homeferret.com
0 votes Thank Flag Link Mon Feb 11, 2008
Hi Cathy,
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.

Naima
214-289-8555
naima@sumner-realty.com
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Thu Feb 7, 2008
I would advise to you that now could probably be the best time EVER to be buying. I do not think it matters what market you are buying in, there are opportunities everywhere you just need to contact a local, trusted real estate agent who can tell you where the 'Best Buys' are. He or she will know exactly what to look for and where and where the hottest deals and most motivated sellers are.

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.
0 votes Thank Flag Link Wed Feb 6, 2008
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