Interested in buying land 1-2 Acres in Parker

Asked by Sandy, Richardson, TX Sat Jul 5, 2008

I am interested in buying a lot no smaller than 1 acre or bigger than 2 acres. I don't want to build anything right away. Might even consider a ranch/ agriculture land if it is on a road and connected with utilities.

Also is it possible to build a house on agri land after requesting a zoning change. Is it usually allowed or very difficult. Also woulr appreciate if can get some estimaes of how much/per acre would be a resonable amount to expect. Is it difficult to get a mortgage on land.

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4
., , Lewisville, TX
Wed Apr 1, 2009
Sandy, I see this was posted 8 months ago,

But I will answer....I know of a property that the seller's would sell if the right buyer came along. I have been selling Parker acreage for $100,000/avg. per acre. Most lots are 2 acres, though builder's are trying to build 1 acre or less due to cost to build, city coucil is trying to keep it the same for obvious reasons. There are homesites on 1.33 acres, 2 acres+. The property I mentioned to you that I know they are interested in selling (but not listed right now) does offer an Ag exemption. Of course, you would need to graze to keep Ag Expemt status. Most of the land is being bought and there is a lot to consider. Do you want to have a horse? Some communities have HOA's that allow no horses, other's allow 1 per acre. Some limit the # of pets you can have, while other's are less restrictive. What are your goals?

If you or someone else is interested in Parker Real Estate from a Realtor and former Parker Resident, I can tell you all that you'd want to know! Call me at: 214-991-9507.
0 votes
Melissa Hail…, Agent, Plano, TX
Wed Jul 9, 2008
Sandy,
The remaining acreage in Parker will probably be closer to $100k per acre, and the majority of it will be in high-end acreage communities. These communities should already have the utilities for the lots available for sale. You will want to check deed restrictions before making an offer, as many will have heavy deed restrictions.

Depending on your wants/needs, you may want to expand your search to include some other small towns near the Parker area, and you will find that the price will vary as you move North into Lucas or East into Wylie.

As for financing, you will need more money down (20% is usually the minimum) and you will probably be looking at financing for a shorter term than a normal mortgage (probably 10 years). There are some balloon mortgages available that allow you to make smaller payments on the land now and then re-finance as you are ready to build in the near future. If you would like some recommendations on lenders that deal specifically with land, please let me know.

My office is based in Wylie and specializes in Wylie, Sachse, Parker, Lucas, Murphy, Lavon, and the surrounding areas in Collin County. We have working with land/acreage and homes in this area for over 26 years. Please let me know if I can be of assistance.

Melissa Hailey
Coldwell Banker Jane Henry Realtors
214-418-0180
http://www.NorthTexasTopRealtors.com
0 votes
Sandy, Home Buyer, Richardson, TX
Sat Jul 5, 2008
Thanks Bruce Lynn, My email address is

an_sanjay@hotmail.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Jul 5, 2008
We can automatically send you listings of land if you'll send me your email address. You probably won't have to request a zoning change if you are in the county. Either way it shouldn't take a lot of work to get a zoning change like that if you are in the city. Mortages are more difficult to get on land than on a single family house. Be prepared to put down 50%. We can direct you to land lenders where you can get prequalified and see what type of interest rates and down payments you will need. Prices will be all over the map in Parker county depending on where you buy. I'd guess for a lot anywhere from about $10,000 to $100,000. The upper end lots will be in communities with streets, utils, etc already in place.
Web Reference:  http://www.teamlynn.com
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