I hadn't crossed the bridges over Lake Lavon in a couple of years since all of our business is west of the lake. But I saw you could buy a new home in Princeton for UNDER $200K; frankly, I thought it was a bait and switch! So I went over to see for myself and met with one of the sales reps for DR Horton. Sure enough, as of several weeks ago, those prices were still good. He said they were selling 60 homes a week, and it doesn't surprise me. Take a look at the video I have posted below and you'll get an idea of the volume they're selling.
Princeton has put the brakes on new construction (180 days) because it's growing so quickly. In fact, it's the third fastest-growing city in the country. I sure didn't know that. When the moratorium on new construction is lifted, it will take off again. Of course, this isn't Lucas, with big 1-3 acre lots per home. These are smaller homes, but they have a backyard. I was impressed with the finishout for that price. How great is a two bedroom for just under $200K and four bedroom for the mid-$200's! That's a great deal for first-time homebuyers.
However, one of the downsides is that all the traffic from those homeowners going west towards Plano, McKinney, Dallas, Frisco, etc. will be impacted by the already clogged intersection at the Lucas Food Store. TxDot is making improvements, but the jury is out on whether it's going to alleviate the problem. If you'd like to see that intersection, here's a link
