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Old 02-06-2016, 05:42 PM
 
Location: Houston
128 posts, read 216,459 times
Reputation: 51

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Hi,

I remember prices of houses in 2014 in this community were very high, and they had some reputable builders (Trendmaker, Village etc). However, I was looking at some of the recently sold houses, and came across numerous Trendmaker homes that ended up selling at ~275-330K ($110-115/sqft), which is very low considering its Cinco Ranch and that it's a Trendmaker home.
Has anyone else seen the same? And is it because it is NW CR and somehow not as desirable? Or does it have something to do with oil prices?

Thoughts?

Last edited by bazookabang; 02-06-2016 at 05:59 PM..
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Old 02-06-2016, 07:32 PM
 
246 posts, read 896,718 times
Reputation: 177
Not just Katy, many locations are the same, around 3-6 months to sell the house. Unless your price is below market value.
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Old 02-07-2016, 12:27 AM
 
Location: Houston
128 posts, read 216,459 times
Reputation: 51
Quote:
Originally Posted by johnsmith View Post
Not just Katy, many locations are the same, around 3-6 months to sell the house. Unless your price is below market value.
Yes, I've seen that to some extent as well. But I havent seen this big of a price drop (from 350 to 280k), especially not for new homes. I also saw couple of those new homes that got sold in Dec 2015 are now back in market and listed nearly 80K higher. Does that mean there are plenty of investors in this community? Or, something about this part of Cinco Ranch that is not desirable?
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Old 02-07-2016, 06:15 AM
 
833 posts, read 1,894,028 times
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Maybe I am looking at the wrong neighborhood but I am not seeing any homes listed for that low of a price.
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Old 02-07-2016, 09:27 AM
 
Location: Houston
128 posts, read 216,459 times
Reputation: 51
Quote:
Originally Posted by jtothemak View Post
Maybe I am looking at the wrong neighborhood but I am not seeing any homes listed for that low of a price.
No, they aren't listed at that price anymore. They sold in Dec 15 - Jan 16.
Here are couple of examples...

1. https://www.redfin.com/TX/Katy/2702-.../home/88154315
this one sold for $275K

2. 2731 Ember Pass, Katy, TX 77494 - HAR.com
this one ended up selling at $310k, but is now back in market at $379k
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Old 02-07-2016, 11:59 AM
 
399 posts, read 643,909 times
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Could be lots of reasons.... builder dumping at end of year, close out pricing for section or community. Could have had issues like backing to busy street or just not a good plan.
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Old 02-07-2016, 12:02 PM
 
399 posts, read 643,909 times
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Yep from the map it looks like 2731 Ember backs to very busy road and has tiny yard. Plus it closed the last day of 2015 which is typically golden for builders. There is your answer!
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Old 04-21-2016, 07:51 AM
 
41 posts, read 53,400 times
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Bandera Glen has houses from 2500 sqft to 4400 sqft so this seems to be at the lower end of the scale. Secondly, this is not really Bandera Glen although Bandera Glen also has 55 foot lots from Ryland and Trendmaker. Price per square feet has been steady around 100 to 115 per square feet. Some pool homes have sold in the 120 per sqft range.

Across the street in SageWood and Ironwood, the larger homes sell for 140 to 200 per sqft depending on location and upgrades. Pond lots had a premium of 70k to 120k.
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Old 04-21-2016, 11:18 AM
 
309 posts, read 427,913 times
Reputation: 75
Quote:
Originally Posted by texasroots77 View Post
Could be lots of reasons.... builder dumping at end of year, close out pricing for section or community. Could have had issues like backing to busy street or just not a good plan.
Builder dumping at end of year? What does that mean exactly? Builders sell homes in the last weeks of December at such a steep discount?
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Old 04-21-2016, 12:54 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,764,862 times
Reputation: 4192
Quote:
Originally Posted by rjj42 View Post
Builder dumping at end of year? What does that mean exactly? Builders sell homes in the last weeks of December at such a steep discount?
Need to get it off the books before the year ends. Also a good time to buy a car.
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