What happened to the neighborhood at Brittany Way and Prosper Trail, in Prosper, TX?

Asked by Keri, Plano, TX Mon Oct 25, 2010

It looks like everything except one house is a foreclosure, and when I drove by over the weekend, there is no maintenance on the property. What happened and how do they plan on selling homes for $600K in a dead neighborhood? Is there a developer looking at reinvigorating the community there? Lots are still listed at high prices.

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Linda Lorenzo’s answer
Linda Lorenzo, Agent, McKinney, TX
Mon Oct 25, 2010
I would say a victim of the times. The property developer looks like they are out of Houston. The homes are custom so there was not one builder. Part of the problem in a neighborhood like lthis is that the HOA is not in effect yet, a reason to be cautious perhaps. Here is a link to a CMA for the homes in Ariana: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/Cm… - ttere is 1 for sale, 1 in the option period and 1 pending (2 others were withdrawn, also bank owned).
Actually all the homes are banked owned and probably in the current freeze on foreclosed properties.
Let me know if you would like any further information.
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Ronda Allen, Agent, Plano, TX
Thu Oct 28, 2010
One of the least-developed subdivisions ahead of the recession hitting our area in Summer, 2008 and it hasn't recovered, even though many Prosper neighborhoods have been seeing amazing recovery in 2009/2010. Until the big banks get their act together on how they will be handling foreclosures, this particular neighborhood will continue to suffer due to low consumer confidence and a developer who is not maintaining the lots in and around the subdivision. If you look just one neighborhood to the East, you'll find Steeplechase, where K Hovnanian is having great growth this year and just held a grand opening on their model home.
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