Plano Texas Real Estate Blog - Local Plano Real Estate.

Normandy Estates Foreclosure

If your familiar with Normandy Estates in West Plano, you'll know that it's a high end development.  It's had a slow go due to the economy but the development is prestigious and beautiful with it's rolling terrain.  This foreclosure just popped up not long ago.  This was the first home to be built in Normandy Estates and now is a luxury foreclosure.  It backs up to the Frito Lay property on a gorgeous treed creek lot. The home is beautiful and built to fit the lot!  The price? I thought you'd never ask! $1,525,000.  It's been on the market 15 days.  It's not foreclosure pricing but it's a great home and lot in West Plano.  What do you think you could buy it for?

LOTS ON SALE!

Are you looking to build a new home in West Plano?

Well, the right opportunities may just well exist for a great buy on a prime lot.  From my experience, clients will consider a new home vs a resale.  If you deal directly with the builder or developer you will not know the status of an existing development, like how many lots have sold and build out plans.  Most the time you'll get a better buy in the close out of the development.  You can get good buys in the beginning but you'll have to wait much longer for appreciation and have to put up with the construction.

There are quite a few lots for sale in Kings Gate, Kings Lake (Kings Ridge), Normandy Estates and Willow Bend Park.  Some are investor owned, builder owned and bank owned but exceptional buys do exist.  Just might be a great time to buy a lot in West Plano!  Any questions? Just ask...
[75093,Plano,Texas,Kings Gate,Normandy Estates,Willow Bend Park]

There have been a few searches on our site for foreclosures in Normandy Estates.  And YES, there are several even though the community hardly has any homes built.  How Many? 

There are 7 lot foreclosures on the villa side and another 2 custom homes already built or almost complete.  You can find them on the foreclosure link to the right.  In my opinion, the pricing is not foreclosure pricing which is typical for banks to try get the most out of it.  Especially in a prime West Plano location and one of the few remaining new home developments.  This would be highly speculative but a good bet if you can buy it right.  It's going to take longer for this luxury gated community to get built out, the lot prices are 229K and up.  Minimum sq ft home is 2500 sq. ft. and if you plan on building a custom home - there are also foreclosure lots in Kings Gate and Kings Lake.  So, there are some choices. The two foreclosed homes that are already built are 1.2M and 1.45M, respectively.  And over 5000 sq. ft.   If you have any questions let us know.   Have a great weekend, check the open house link and stay cool.
[75093,Plano,TX,Normandy Estates]

Foreclosures Finds in 75024


It's no secret that the luxury real estate market has had a tough go this year.  With foreclosures being a daily force in the real estate market no matter where you live, there are some great buys to be had.  With that being said, not all are foreclosure prices, even the banks know they can get more in a desirable neighborhood.

There are occasional foreclosures in all the tony West Plano neighborhoods but there are a couple that deserve a shout out.  Everyone likes new, right?  So, if you like the Shops at Legacy area there is always 1 or 2 foreclosures in the first and second phase.  I remember when town homes were going for 325K to 475K.  Now almost everything that's sold in the last 6 months is 225K to 300K.  I point this area out as a great investment or first time home buyer product that could be worth a pot of gold when the economy comes back.

Another shout out is Normandy Estates, two villa lots were just listed as REO (real estate owned).  You could buy for future building or hold for a while. It's on the Denton County side and Lewisville schools.  A minimum 2500 sq ft structure must be built. This is the first gated community in over 5 years. Now, you need vision for this neighborhood but it will be a winner down the road at Spring Creek & Tennyson, just north of Shoal Creek.  The lots are listed at 309.9K, which is retail, villa homes prices start at 900K or around there and that includes the lot, so roughly 600K home to build.   Wonder what the bank would take for these?  Probably make a sweet deal if you buy two...

[where: 75024, Plano, TX, foreclosures ]
                                                          

Normandy Estates Lots for sale!

 

This came on the MLS around 30 days ago. two lots for sale @$299K each... first listing.

Living on the west side of Plano you're familiar with this amazing new development.  You can't see it yet but it's a 5.5 acre development with lake, fishing dock and beautiful rolling terrain.  There will be a community center with pool and it's gated. There are few gated communities in Plano - so this is huge if you desire the privacy and security.  And it's right off the Dallas tollway and Shops at Legacy.  This location is a winner!

Now these lots are the smaller zero lots for town homes.  This project has gotten off to a slow start but progress has been made last 6 months, take a drive by and see.  This development will be stellar once it's completed, just a little vision is needed. The lot prices seem high since there are town homes available for $535K. I don't know, guess there is always room for negotiating. Always...bet some builders might want to sell their lots if they can't sell a house.

[where:75093, Normandy Estates, Real Estate, lots for sale]

Normandy Estates Fountain

You can always use another fountain. Especially when it's pushing 100 plus again today.  This is Normandy Estates newest jewel to the development.  The fountain and lake view will command more dollar per lot, of course, or that's the thinking at least.  Seriously, if you haven't driven in the development you need to. Homes are being built and gates are being put in place.  Just a stones throw from the Shops at Legacy at Tennyson and Spring Creek.  Property and lot listings are here.  If your going to be out and about this weekend - it's suppose to be cooler on Sunday - and there are over 30 open houses to preview, check out the link to the right and stay cool!

[where:75024, Normandy Estates, West Plano, Texas]

Normandy Estates Home Pricing



A few interested parties have inquired about the properties for sale at Normandy Estates.  It's hard to tell what the price is because there are several phases and really no photos to go by.  So, just a heads up for those who want to know.  The single family lots in the Plano school district start at $500,000 and up.  The town home development which is in the Lewisville ISD start at $500,000 for a completed home.  There are several homes in the beginning building phases and you can drive through the development now to get a feel for the neighborhood.  Street names are very European, like Beauregard, gotta love it since no street names in West Plano even resemble the land or places they are named after but you can dream.  You can check the homes or lots for sale here. It's a gated community.

[where:75093, Normandy Estates, West Plano, homes for sale]