One of our newest listings! Come and check out our open house event this weekend.
I'll be hosting Friday July 28th 4pm-6pm, 12pm-2pm on Saturday July 29th, and my colleage will be there on Sunday the 30th from 12pm-2pm.
Richard Murtaugh, ColdAir A/C and Heating
Richard Murtaugh has owned and operated ColdAir A/C and Heating for as long as I’ve known him, almost 30 years now. Richard could grow ColdAir to a much larger organization but intentionally keeps his business at a level that he can manage with his family and do personal calls himself. He knows every one of his customers by name, where they live, how old their air conditioners are and he knows how expensive it is to replace an HVAC system. So he doesn’t. Unless he can no longer fix your A/C, or somehow keep it running for you, only then will he suggest replacing the system.
That’s the amazing thing about Richard. He could make more money by changing out your HVAC or air conditioning unit but he will patch it for you instead to save you money, or at least keep you from spending thousands of dollars on a new unit until it’s absolutely necessary. When he can no longer fix it, yes, he will put in a new one.
Give Richard or Jessica a call at 972-972-679-4072 to service your unit before a disaster strikes; you’ll be glad you did.
It’s time to get back to reviewing new home communities for my readers and this week I had the good fortune of visiting the DR Horton section of Valencia on the Lake in Little Elm. Other builders in this community are Cal-Atlantic , Dunhill and First Texas. It’s great to see Builders move back into the $300’s price range with their new communities and each of these builders have houses in that range.
This desirable community is located in the charming town of Little Elm near the 380 and 423 area. If you are going West on 380, turn left at 423 and then right at the first street. Go past Lakewood Elementary and you will have arrived at Valencia on the Lake. This section of town will soon have a new Kroger, Home Depot and many great places to shop and dine.
LifestyleEnjoy lakeside resort style living at its best. Living at Valencia on the Lake allows you to be outside on the walking trails, boating or enjoying the soon-to-be-built pool at the tip on the peninsula. Other amenities include a lakeside community center, tennis courts, sand volleyball and a ballroom.
Children at Valencia on the Lake have the opportunity of attending Little Elm ISD and some sections have Denton ISD.
Valencia on the Lake has a range of homesites from 50’ wide to the larger 80’ wide sites and many with lake views.
Each builder has homes starting in the mid-low $300’s for 2,200+ sf up to the high $400’s for over 3k sf.
Tax rate for this community is 3.2%
Public Improvement District
This community is a Public Improvement District (PID)
4 Signs Market is Cooling
Why do I think the market is slowing when the numbers aren’t really showing it yet? There are four sure signals not previously seen in four years.
1. Agents in my office are asking why their listing hasn’t sold. Last summer this lament was heard only at the higher price points and now it’s being said at the lower price points. Just the other day an agent was asking why her $350,000 listing has been on the market for almost 60 days. And in April an agent with another brokerage lamented about his listing in McKinney, priced under $300,000, had not sold in two months on the market. And, to really cinch my belief this is happening, a well-known coach stated he has heard the same from some of his top clients across the nation.
2. Builders of new construction are offering more incentives to buyers and dropping prices significantly. My inbox is flooded with messages from builders who have available inventory and discounted prices on existing specs. One builder in Frisco, with home prices in the upper $500’s - $700’s was dropping $60,000 and more off the price of inventory homes. And, I’m seeing more new construction in the lower $300’s than previously. Two years ago it was nearly impossible to find new construction under $400,000 and builders offered no incentive or very little incentive to buyers. Negotiations at that time consisted of the builder saying this is the price; do you want it?
3. Fewer multiple offers on houses. While it’s true that some properties are still seeing a large number of offers, that is not as prevalent as it was two years ago. Now it’s likely there isn’t multiple offers on a house, and when there is it may be just two or three offers. That hasn’t always been true but today many houses are sitting longer on the market and may not receive multiple offers.
4. There is lesser talk about new jobs being created. For several years now if people weren’t talking about how hard it is to get a house, they were talking about the constantly increasing jobs market. And rightfully so. DFW has seen the addition of 100k+ jobs per year from 2012 to 2015 but 2016 didn’t see the same increase in jobs creation. According to an article in D Magazine’s July edition, 2016 new jobs created only equaled about 88,000 for our area.
Very soon we should be seeing data showing houses staying on the market a little longer, even in the lower price points. Does this mean prices will start rolling back? Absolutely not! It means that there’s finally available housing to choose from.
5573 Squires Dr,The Colony, TX 75056
Over1,702 sq feet
Conveniently located near in an elementary school and a park