Average list price is $178.00/sf. Yes, the finish-out is gorgeous, but our $500k-1,000,000 buyers are, in many cases, coming from other states. Right now, they are coming with bumps and bruises from the recession on their financials. They are paying off debt and buying more conservatively when they get to us.
Another issue with the neighborhood is that the pricing strategy is off on some of the homes, which sends a very confusing message to buyers. Why would a 4-bedroom home with under 4,000sf be selling at a higher price than a 5-bedroom home with almost 5,000sf of living space?
Another issue we always encounter, beyond the power lines and the view of the water tower, is the promiximity to the Dallas North Tollway. It's great if you're commuting to downtown Dallas for work, and have virtually no in-town traffic before getting on the tollway. It's not so great for some, who don't want that level of road noise or traffic that comes with living near the tollway.
Great neighborhood. But, it is falling victim to the recession like much of the luxury home market.
Have a blessed day!
Ronda Allen, Realtor, C.P.M., SFR, TAHS