I am not a real estate professional, just a home owner in Keller. I have lived in Keller for 10 years and we recently purchased a new home in a nearby community (Harmonson Farms where there are Drees Homes and Highland Homes). I have been anxiously awaiting the opening of Marshall Pointe and Marshall Ridge. The reason that the Meritage prices are so much higher in that area is because it is actually in the City of Keller. You won't just have a Keller mailing address like Kingsridge or Villages of Woodland Springs. Also, this area borders the town of Westlake, which is extremely desireable. These areas are slated to go to the new high school in 2009 which will be across 377 (and almost to 35W), which, in my opinion is a negative, but that is my personal preference. I prefer Keller HIgh School, which is the only high school in the city limits of Keller and on the east side of 377. Also, I have heard that until they build an elementary school in the subdivision, the elementary aged kids will attend Woodland Springs, which is also clear across 377. I have not seen the Meritage models, but the Drees model is gorgeous. My subdivision is just about closed out. In fact, the Drees associate is now selling homes over there and both models in my subdivision have been sold for quite some time. Being so close to the railroad, you will hear the train, especially as the train approaches an intersection and sounds its horn. Don't let the sales people fool you into thinking that you won't hear the train. If you are far enough into the subdivision, it probably won't be a problem however.
If I wasn't concerned about which schools my children would be zoned to attend and if I was in the market for a new home in the City of Keller, I would probably consider Marshall Pointe and Marshall Ridge - even with the price increase. That's my two cents for whatever it is worth.
Keller is a great community to live inâ€¦it is a small town, all grown up. The amenities in the city continue to improve with new retail, new schools, new roads, etc. Keller also has easy access to so many of the metroplexâ€™s activities such as the Keller Town Center, Texas Motor Speedway, the Fort Worth Stockyards, and so much more!
Marshall Point and Marshall Ridge, are adjacent subdivisions. You should to be careful in comparing them, as they are not the same. Marshall Ridge prices are from $281,000 to less than $400,000. Marshall Point is an upscale community with an emphasis on the Tuscan village and European architecture. You will notice in Marshall Point the base prices are beginning in the $424,000â€™s with the prices exceeding $670,000.
Just recently one of our listings in the adjacent subdivision, Overton Ridge, sold. Also, in Overton Ridge we currently have a property listed at 705 Wickham Court, so we are actively working in this area.
In regard, specifically to the builders, on the Drees Homes website they are promoting that they are the â€œ2008 Americanâ€™s Best Builderâ€ by Builder Magazine. The quality of finish will vary greatly by builder from subdivision to subdivision. The area does offer a community park, bike trails, and convenient access to schools.
Meritage is the twelfth largest builder in America. The Company is publicly owned and traded on the NYSE under the symbol MTH. Meritage designs and builds homes coast to coast, for everyone from first-time to luxury buyers. They are focused on choosing great communities, offering design flair at a great value and providing an excellent home buying experience for customersâ€”this information if from the Meritage website.
Remember, it is always a good choice to employ an experienced buyerâ€™s agent. A buyerâ€™s agent will seek to understand your specific needs and align you with the builder that meets your criteria and your specific needs. You receive service from the agent, at no expense to you. Regardless of whom the builder says they are working for, they are the builder and the builderâ€™s representative. Buyerâ€™s agents work for you, and at no expense to you. Buyers agents fees are paid by the seller.
As far as your investment in this area, Keller/North Texas is a great place to live and we do have a steady, strong economy. Included in this information are some stats on Keller that perhaps you will find helpful.
To date in 2008 Property Sold/Listing Side by Volume-
High$1,106,000 Sale Price Average $338,201, Median $275,000
Year 2007 Property Sold/Listing Side by Volume-
High $2,125,000 Sale Price Average $324,024 Median $284,950
Year 2006 Property Sold/Listing Side by Volume-
High $1,325,000 Sale Price Average $298,141 Median $265,000
Year 2005 Property Sold/Listing Side by Volume-
High $1,220,000 Sale Price Average $269,470 Median $242,500
Year 2004 Property Sold/Listing Side by Volume-
High $872,000 Sale Price Average $243,500 Median $220,000
Year 2003 Property Sold/Listing Side by Volume
High $997,000 Sale Price Average $234,980 Median $218,000
This information came from the MLS for the appropriate years. You can see from this tiny snapshot that homes in Keller are changing to include the more â€œexecutiveâ€ type home with beautiful finish out and many upgrades and amenities. Remember this is a year-by-year snapshot with all prices figured in!
Another website with information concerning the stability of the housing market in our area is DFWHousingFacts.
If you want more specifics, contact us. We will be happy to provide additional information more specific to your requirements.
I feel it useful to recognize that you are not only paying a premium by being the first to buy in such a new development, you are also going to be competing with the builder for several years if ever you have to sell your home. As the development grows the builder will begin to drop their prices. There are many good examples of this trend. Village of Woodland Springs comes to mind. Will this be your first new build experience? I recommend exploring existing homes in great detail before settling on a new community like this. It is a Buyers Market and we are about to be in the â€œhigh seasonâ€. There will be an even greater abundance of inventory than today. My best, Josh.
My personal preference is Drees, but check out my website under the new home builders before you buy.
Always always use a realtor when purchasing a new home.
This is a link to other houses for sale on the MLS in that neighborhood. You may have seen this but if not its good to know what everything else is being sold for.
Meritage Homes is owned by Legacy Homes. They have been around a long time. They build some pretty nice homes and I haven't had anyone really complain about a problem with a home they purchased from them except the occasional customer service issues which arise with anyone. I don't believe they have any inventory yet so I assume that you will be building something. Remember that the base price listed on floorplans is really just the base price, almost anything you change or upgrade will cost you.
The same goes for Drees. They have some under construction not expected to be ready until end of April/May. Their model home isn't ready yet either.
Regarding the increase of the sales price, usually builders have a price list out "pre-construction" which goes on the billboard, then when the community is platted, they increase the price and so forth as the home is built. Once it is an inventory they need to sell it, that's when you can really negotiate a lot.
The location is prime. I would not worry about resale in the community. The prices they are asking are a tad high because the community abuts to North Richland Hills instead of Southlake.
If you are not working with a Realtor, it would be my pleasure to assist you in your home search and help you with negotiations. It wouldn't cost you anything.