In Dallas’ ‘Outer Ring’, Real Estate Deals Abound
“Outer ring” is called by them. That otherworldy name refers to a compilation of far-flung previous prairie towns surrounding Dallas, which are quickly morphing into exurban boom towns made up of comparatively reasonably priced homes. The ring extends from Tarrant County along the Chisholm Trail Parkway, by Kaufman and Collin all along Highway 380. It reaches south further than north past Prosper and Red Oak.
The communities there have accessible land that is cheap as compared to be found near to ‘Dallas’ ‘inner ring,’ inside I-635. Due to this reason, the developers are constructing over 10,000 houses in the outer ring that will price between $250,000 and $350,000, a cost series that was common not as well long ago all through Dallas.
Various real estate agents tell their first-time buyers that if they want to live south of 635, then they will have to pay $400,000 – $600,000. Anything below that, and they will have to think a townhouse or glance at places like Forney, a Kaufman County suburb that’s quadrupled in size ever since the 2000 Census.
In Denton County, North of Fort Worth, megaprojects are under construction. In Argyle, a small city of 4,000 halfway between Denton and Flower Mound, Hillwood Communities has considered Harvest, a 1,200-acre growth with 3,200 homes construct around a working farm. Not far away, in the still smaller town of Northlake, Hillwood is putting 609 homes into Pecan Square, a 1,157-acre growth where one more 3,000 houses will ultimately be offered from $270,000 to approximately $500,000.
Regional director in Dallas-Fort Worth, Paige Shipp, for real estate research firm Metrostudy, says one more main difference is that present development is not speculative. She says, ‘Last time around’, “we were just pushing out to distant communities to get as many homes constructed as we can’. What builders are doing nowadays is more about offering attainability, about offering an option cost point that buyers cannot get somewhere else.”