Home Buying in 75034>Question Details

H.k, Home Buyer in Frisco, TX

We are planning to buy a home in Frisco, TX (Pearsons Farm community).

Asked by H.k, Frisco, TX Sun May 18, 2008

I want to know what's the current market price for a 5000 sq ft new home in Frisco. I heard it's ~ $100/sq ft. Is it too high to buy one in Frisco, especially in Pearsons Farm. Can anyone help?

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11
HK,

I just ran a CMA for you on Pearson's Farm just to be sure. It sounds right, but I wanted to have data to back me up. The whole area is at around $96 p/sq.ft. The 5,000 sq. ft. are at $100 p/sq. ft. Frisco is the fastest growing city in the nation at the moment.

I specialize in new homes and the Frisco area. Is there something we can do to help you protect your best interests in a purchase with a builder built new home? There's getting the right price, then there's representing you throughout the process - the builder is very busy with anywhere between 12 - 28 homes at one time. Trying to run them down if you have a question or concern while they are busy scheduling their trades, going between different subdivisions, resolving issues on all the different construction sites, etc. is not always easy. Then, there are more than 500 steps to completing a transaction. Not to mention the terms - when you close, which mortgage company you use, what incentives you get for that, what goes on during construction or if it's already built what goes on while you are closing on the home, inspections, when warranty items are going to be fixed, etc.

Thanks so much,
Terri Hayley
1 vote Thank Flag Link Sun May 18, 2008
HK,

The cost per square foot of a home is but one measurement when considering the value that you are receiving. The builder that you are using, the features that are provided and the location both of the lot and the development are key. All houses priced at $100/square foot are not created equal! Many builders are offering incentives that enhance the value of the home that you may purchase. Working with an informed realtor who represents your interest is the best thing tha you can do to ensure that your home purchase experience is both efficient and effective. You will be happy with a purchase in Frisco but best served by a qualified realtor. Call if I can be of help.

Philip Alber
Keller Williams Realty
Frisco, TX
(972) 632-805
0 votes Thank Flag Link Wed Nov 10, 2010
We have a 4563 home in Cheyenne Crossing for sale which is very close to Pearson Farms. It is on a quiet cul-de-sac which is where the model homes were built. Good luck on your search.

Ron
0 votes Thank Flag Link Sat Jul 3, 2010
It probably is a little high. For that price if it doesn't have to be new there are so many other communities that you can get better deals. There are gated communities that have pool and tennis and 24 hour security.
From what I have seen since working and living in Frisco, You have to be very careful in purchasing New? If you do not plan, or because of a job situation have to move before 5 years in a home, you can be upside down! If you would like a 5,000 sq ft home that has equity? Please feel free to email me or call and I would be happy to help you find a home that you will not be upside down in. For example there are communities that are assessing homes quite high, and when you try to sell, there are appraisals coming in under tax assesed values!
Barbara Capobianco
(972) 757-4527 Barbara@powerteamtexas.com
0 votes Thank Flag Link Wed May 13, 2009
Shelly, it's a pleasure to hear a seller praise their agent. That is wonderful.

Your house shows very well and the pictures are great. If it had a pool, I'd bring you a buyer for sure! You may want to have an updated picture of the front taken, the brown grass is a dead giveaway on how long a house has been on the market. Good luck,

Naima
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Fri Jun 6, 2008
We have a Custom home for sale in Frisco for $519900. It has it all. If you would like more information or to see our home you can contact our realtor. She is wonderful. Her contact info is at the end of this email.
Immaculate Custom Home in beautiful Christie Ranch. Wonderful view of back yard from all over the house including wall of windows in the master bedroom. Back yard has covered patio, landscaping and 8 foot board on board stained fence. Master, guest bedroom and study downstairs. Master bath with Jacuzzi tub and custom shower. Den has built in entertainment center and stone fireplace. Study has built in book shelves, boxed ceiling and a closet. Home has a gorgeous formal living room with a fireplace that has a mantle/molding going to the ceiling and a very spacious dining room with butlers pantry and very detailed crown molding. Rod Iron Curved Staircase. Custom kitchen with granite counter tops and stone bar, top of the line stainless steel appliances including double ovens. Upstairs has 3 bedrooms, 2 baths, gameroom with snack bar area and a media room complete with 7.1 sound, projector and 110 inch screen. Home has 4 full baths all with granite or tumbled stone counter tops. All rooms have ceiling fans. All bedrooms have walk in closets. Scraped hardwood floors and 20 inch ceramic tile floors. 8 foot solid core interior doors. Plantation shutters and custom window coverings throughout home. Columns and detailed crown molding. Mud area leading to a 3 car garage. Front yard has extensive landscaping. Neighborhood pool and park. An Elementary School and Middle School that are less than one mile. Also, a High School under construction that is less than one mile. Available For Immediate Move In!! To view this property please call Linda Brown at 972-740-8717 .
0 votes Thank Flag Link Fri Jun 6, 2008
I just ran a report for sold homes in Pearson Farms.
From January 1, 2008 thru today, there have been 25 homes sold.
The average s.f. selling price was $97.68.
The average home sales were $419,000.

Thought this might help.
PS; you can find current listing on my web site under the MLS tab.
Web Reference: http://www.bigdrelo.com
0 votes Thank Flag Link Mon May 19, 2008
You can most likely do a little better than $100 per s.f., also many Realtors like myself contribute commissions to wards your closing costs. If you work with the right agent you may end up acquiring a home at a $95 per s.f. net.
Web Reference: http://www.bigdrelo.com
0 votes Thank Flag Link Mon May 19, 2008
Yes, you are about right. Price will depend on many factors though. It can vary by builder, type of home they build, lot premiums, finish out, and upgrades and extras. ALWAYS take a realtor the first time you visit a builder. ALWAYS have a realtor represent you. You can see all the pitfalls of not having represenation on my website http://www.teamlynn.com under the New Homes section. Trulia is also FULL of questions from buyers who did not have represenation and then have problems with the builder. It's not to say builders are bad, but they are experts and we always suggest you have an expert in your corner fighting for you. Representation is normally free to you and will often result in a better deal for you.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Sun May 18, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Sounds right to me as well. Hopefully your Realtor can get all the info that you need.
J.
0 votes Thank Flag Link Sun May 18, 2008
DON'T purchase a home unless you have a realtor who is representing you, not even from a builder, seller, or listing agent. We answer sooooo many emails, calls daily off where things have gone wrong and the buyer facing legal issues it's tooo late for a Dallas real estate agent to be involved.

Did you realize there are some GREAT new construction of foreclosures in Frisco approx. 5000 or more sq. ft. below market value, less than $100 per sq. ft. I just finished a property tour with a family in Frisco wow some of the foreclosures.

Some builders don't tell you all the specials they have or can offer however they will notify agents, for us to bring our clients

There have been 31 homes sold in West side of Frisco
a) 4500 to 5500 sq. ft.
b) Av. price per sq. ft. is $109.

FYI: I had just worked a new construction op out for one of my clients, builder drop the price back by $35K, picking up all closing costs, plus one of the bathrooms were going to be reconfigured per their specifications for an older family member... which was about another $5K retail....

Contact my office if I can offer any further assistance
972-699-9111
Lynn
911@lynn911.com
http://www.lynn911.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sun May 18, 2008
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