6822 Oeste A

The Dallas Cowboys may be bidding farewell to Las Colinas, but homebuyers can’t get enough of this master-planned community in Irving. It’s a clean, attractive suburb with more than 190 acres of parks and greenbelts, 17 miles of canal waterways, and 10 miles of riverside hiking and biking trails.

More than 33,000 call Las Colinas home, and the average house price in the community is $566,417, according to Realtor.com. That makes today’s Tuesday Two Hundred a real find: the townhome at 6822 Oeste Dr. is newly listed by Leslie Knutson at RE/MAX Premier Group for $275,000. The price-per-square-foot of $155 is less than the Las Colinas average of $167 per square foot, and this townhome has hardwood floors, stainless steel appliances, and granite countertops.

This Mediterranean-style property has stucco exterior walls, red roof tiles, and is part of the La Villita Townhomes. It has two bedrooms and 2.5 bathrooms on two stories in 1,772 square feet built in 2007 and is walking distance to the Lago de Claire and the Gran Via canal, a meandering waterway near jogging trails.

(more…)

Dallas Cowboys World HQ and Training Frisco

(Photo: DallasCowboys.com)

If there was ever a time to buy in Frisco, it’s now. As the Dallas Cowboys (and Tony Romo!) plan to move their world headquarters from Valley Ranch to one of the fastest-growing cities in the nation, home values are rocketing upwards. That’s great news for developers and homeowners inside this popular suburb.

Romo is not going quite that far north, of course. We got wind that Romo and his bride, Candice, are leaving Cottonwood Valley and building inside Glen Abbey, a fabulous gated development right off the Dallas North Tollway in far North Dallas. The lot for the new Cowboys HQ is just a ways from Stonebriar Centre, too. Basically, the Tollway is about to get a lot busier.

And apparently, so is Frisco. While the Cowboys facility won’t be finished until July 2016, the impact from the franchises’ move is already being felt, according to this report from Prudential (emphasis ours):

Prudential Texas Properties reports that an October 14 Frisco real estate report from California-based analytics tracker Altos Research saw the city’s 90-day median list price hit an all-time high of about $416,000. This is up from under $375,000 at the beginning of the year and is a $100,000 market jump from as recently as October of 2011.

Holy cow! That is some seriously immense growth in values! For those who are building on Republic Property Group’s Phillips Creek Ranch, that’s got to be great news. And it’s even more exciting for Realtors in Frisco, who are seeing those prices climb even higher as new single-family homes are in short supply.

“The buzz is reaching fever-pitch in Frisco as local home owners experience continued market growth from what seems like a ripple effect of the year’s most talked-about North Texas real estate venture,” says DD Flynn, VP of Marketing with Prudential Texas Properties. “The future of this rapidly developing city could not be more exciting.”

This is such an interesting development trend. I wonder, will any other big real estate moves precipitate such growth with home values as the Dallas Cowboys have?

PCR_StanPac Homes_3

Las Colinas Horses

Will the horses of Las Colinas keep charging without the Cowboys there?

Poor, Beth Van Duyne! First the Byron Nelson announced that it will be relocating, and now the Cowboys are pulling up stakes from their Valley Ranch training facility and heading for Frisco. The Irving mayor must be having fits!

Of course, what we want to know is how all those luxury homes and condos, and all that great shopping will fare without America’s Team, which happens to be the most valuable in the NFL.

But, what about the Irving Entertainment Complex that was recently given the green light by the Irving City Council? Well, that project doesn’t exactly have a clean slate, given its history of lawsuits and he-said/she-said documents alleging all sorts of claims. So, what’s the outlook for Irving and Las Colinas?

We chatted with Brandon Calhoun, a star agent and real go-getter with Coldwell Banker DFW’s Irving/Las Colinas office. For all the turbulence in the area, Calhoun says that with all of the new units poised for sale, and with many great attractions in the area, the area will likely only feel a blip on its collective radar. Besides that, it’s not like Valley Ranch is going to disappear, either.

“I don’t see it having a big affect on the market. I still think there’s going to be a lot of attraction to the area, to Las Colinas,” Calhoun said. He’s confident that people will still be drawn to the area’s excellent value and great location, with demand for luxury homes and condos continuing to remain brisk

“There’s a fair amount of luxury inventory — especially with the new Highland homes on Riverside in Las Colinas,” Calhoun said. Existing home inventory is low, with few people moving from the area, so Calhoun feels that with brisk traffic, more people are moving to Las Colinas than are leaving.

With the Byron Nelson and the Cowboys leaving, “it’ll slow down a little bit … but there’s still a fair amount of traffic,” Calhoun said.

Calhoun sounds pretty confident. What do you think?