Home Selling in Fate>Question Details

Von Sims,  in Grand Prairie, TX

Are new homes starting at $370K really affordable in Fate?

Asked by Von Sims, Grand Prairie, TX Tue Oct 23, 2007

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Demographics are a tough topic, because the current population may not be in a position to afford a $370k house in the Fate area, but there are many people who would buy who don't currently live there. While averages are interesting statistics, they do not reflect the robustness or breadth of the accessible market.
Anyone who considers Fate within commuting distance of his job is a potential customer (not just the current residents of Fate). Nearby Heath, for example, really doesn't have any houses as low as $370k. They start around that. An enclave of expensive homes ($350K+) could be successful in Fate, since they already have some. Just remember that the same home in north Dallas would bring in a million+, so if they're not shopping at Preston Center, they may buy in Fate.
0 votes Thank Flag Link Tue Aug 5, 2008
I live in Rockwall, which is 5 minutes from Fate. The price range of homes in that area are between 100K - 280K. Homes do not go up to $370K in that area, they do in Rockwall. 280K will get you 5 bedrooms a generous amount of land acre or more and approx 3800 sq ft. I am a Real Estate Broker in the area, and will be happy to assist in any way. If you have any additional questions please feel free to call my office 972-961-7438. Valerie Alfred
0 votes Thank Flag Link Wed Jun 4, 2008
For a pro like you....no problem...but the median home price for the metroplex is probably more like $150,000, so that's more than double the median. My thought is that starting price is optomistic for the mass market.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Fri Oct 26, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
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