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Old 03-02-2016, 01:48 PM
 
511 posts, read 838,835 times
Reputation: 483

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Quote:
Originally Posted by MckinneyOwnr View Post


Most of the ranch homes in central Plano built in the late 70's up to 1990 are NOT open floor plan. The trick would be to find one for $210k, but they are out there.



Which schools are those? This home meets your criteria in central Plano, and has good school ratings, I myself went to Schimelpfenig.

3220 Anchor Dr, Plano, TX 75023 - Home For Sale and Real Estate Listing - realtor.com®

As you can see, it's definitely not open floor plan.



If you bid right now, I would probably offer full asking price. Even when people were getting homes for under asking, it was like 2-3% under, max. Last time we shopped for homes a year ago, all the comps were showing sold for 98-99% of asking if they were under, and sometimes 5 and even 10% over.

You won't be getting favorable terms with a lender with your credit score, but if time is of the essence then it doesn't really matter. To be honest, I'm surprised you qualify for an FHA loan. We purchased our home just over a year ago, and even with credit scores in the 800's, we had to jump through hoops, far more than we ever had to do in the past, and that includes buying a home in 2010 in the midst of the banking/foreclosure nonsense.

Thanks! That house actually would suit my needs - guess I need to keep an open mind when I seriously start looking (except it needs a facelift pretty desperately - I'd love to gut and redo the whole part where the fireplace is but imagine I'd have to suck it up and deal with the ugly). Re the FHA loan, I've been told that 580 is the minimum score that you can find banks to work with you on. Of course I want it to be higher before taking the plunge and accept that I won't get the best terms. My bank will accept a 600 so I am almost there. I have a pretty good reason for my credit struggles so hopefully that will be taken into account too. Gahhh....so much to get done in so little time!
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Old 03-02-2016, 02:19 PM
 
Location: Prosper
6,255 posts, read 17,110,251 times
Reputation: 9502
You're welcome. For Plano, concentrate your search on the 75023 zip and you should find examples that meet your criteria. Not many mind you, but they are out there. As others noted, McKinney or Allen might also work, though I personally would pick McKinney over Allen if given the choice. There will be more homes for you that meet your criteria in McKinney, I would look at 75070 zip. Frisco too will have some areas that meet your criteria but I am less familiar with Frisco so can't give you an exact zip to search.

Hope this helps!
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Old 03-02-2016, 02:50 PM
 
511 posts, read 838,835 times
Reputation: 483
Yes, thank you. This is very helpful!
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Old 03-02-2016, 04:12 PM
 
1,167 posts, read 1,818,703 times
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I just did a MLS active search for you. For Allen/Frisco/Plano/McKinney, there are only 30 listings right now. Pretty much all built before 1990 with avg sqft ~1500sqft
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Old 03-02-2016, 04:43 PM
 
Location: Frisco, TX
5 posts, read 6,632 times
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If you are open to Melissa, TX there may be a few options for you in your price range.
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Old 03-02-2016, 05:22 PM
 
Location: Allen
283 posts, read 404,845 times
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Quote:
Originally Posted by unknown00 View Post
I just did a MLS active search for you. For Allen/Frisco/Plano/McKinney, there are only 30 listings right now. Pretty much all built before 1990 with avg sqft ~1500sqft
There's got to some houses with fix upper, foundation, roof issues to bring down the price to $100/sqft
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Old 03-02-2016, 05:36 PM
 
511 posts, read 838,835 times
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Quote:
Originally Posted by richard88 View Post
There's got to some houses with fix upper, foundation, roof issues to bring down the price to $100/sqft
You are a great comfort, Richard.
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Old 03-02-2016, 05:37 PM
 
511 posts, read 838,835 times
Reputation: 483
Quote:
Originally Posted by jlynesellshomes View Post
If you are open to Melissa, TX there may be a few options for you in your price range.
I would be but I am currently in BFE and eager to escape. Don't they not even have a grocery store?
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Old 03-03-2016, 01:37 PM
 
1,256 posts, read 2,494,005 times
Reputation: 1906
Quote:
Originally Posted by MobiusStrip View Post
Thanks! That house actually would suit my needs - guess I need to keep an open mind when I seriously start looking (except it needs a facelift pretty desperately - I'd love to gut and redo the whole part where the fireplace is but imagine I'd have to suck it up and deal with the ugly). Re the FHA loan, I've been told that 580 is the minimum score that you can find banks to work with you on. Of course I want it to be higher before taking the plunge and accept that I won't get the best terms. My bank will accept a 600 so I am almost there. I have a pretty good reason for my credit struggles so hopefully that will be taken into account too. Gahhh....so much to get done in so little time!

That house is already under contract, btw.

And that zip code is central Plano, not east Plano. East Plano and Murphy are mostly in the 75075 and 75074 zip codes. And the elementary schools there are good.
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Old 03-03-2016, 03:02 PM
 
Location: Prosper
6,255 posts, read 17,110,251 times
Reputation: 9502
Quote:
Originally Posted by Brookside View Post

And that zip code is central Plano, not east Plano. East Plano and Murphy are mostly in the 75075 and 75074 zip codes. And the elementary schools there are good.
...They specifically said they didn't want to buy in East Plano, therefore I gave them a zip that is central Plano.
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