For families considering buying or building a new home today, the opening sentence from Charles Dickens’ classic historical novel, “Tale of Two Cities,” resonates just as strongly now as it did when it was first written. With the evolution of the residential building “art and science,” the options have never been better. Amazing locations, amenities that before now were only found in expensive resorts, utility-saving engineering, spectacular architectural options, and the rise of master-planned communities such as Creekshaw, located in Royse City between Garland and Dallas, it is clearly the “best of times” for homebuyers.
However, buyers are rightfully concerned about the economy and its effect on the financial aspects of sharing the American Dream of homeownership. While it is understandable to be concerned, historically, this is certainly not the worst of times to be buying or building a new home. As home buyers for many generations have learned, all it takes is a good plan of action.
The Best of Times
Let’s start with the good news. Master-planned communities have fundamentally changed the value proposition of building a new home. Communities such as Creekshaw, conveniently located north of Dallas in Rockwall County, are a great example of why now is a great time to make the decision to build a forever home today.
Creekshaw is located in one of the oldest towns in Texas, Royse City. The award-winning downtown area offers a charm that is simply not available for most communities. The developers of Creekshaw recognized this warm, small-town vibe and designed a master-planned community that has become a part of this quality of life.
State-of-the-art amenities such as the immaculate Creekshaw amenity center, with its massive pool and meeting spots, is surrounded by the luxurious walking and biking trails of Creekshaw. These paths have been created with the gently rolling terrain in mind and this eco-therapy is a great way to recharge.
The schools are also top-flight. The Royse City Independent School District is far above average among other districts in Texas. It boasts a student-to-teacher ratio of 15 to 1, which allows for more individualized instruction. The graduation rate for students in the district is an impressive 96 percent. The Royse City ISD is among the top 500 Best School Districts in Texas.
Meeting the Mortgage Rate Challenge
Every generation of home buyers has had to grapple with what appears (at the time) to be tough economic headwinds. Of course, with regard to mortgage rates, things have been better, but they have also been much worse.
As of the end of July 2023, Forbes reported, “The average Annual Percentage Rate (APR) for the benchmark 30-year fixed-rate mortgage rose to 7.33% today from 7.27% yesterday. This time last week, the 30-year fixed APR was 7.32%. Meanwhile, the average APR on a 15-year fixed mortgage sits at 6.60%. At this same time last week, the 15-year fixed-rate mortgage APR was at 6.57%. And the average APR on the 30-year fixed-rate jumbo mortgage is 7.18%. Last week, it sat at 7.07%
Here’s how this impacts a family considering buying or building a home:
MONTHLY P&I per $100,000
The experts at Forbes add, “Expect the Federal Reserve’s ongoing monetary policies to continue to put some upward pressure on mortgage rates, with the Fed signaling that it will slow rate hikes, a downward shift in mortgage rates may soon come. While mortgage rates are directly impacted by U.S. Treasury bond yields, the Fed’s actions to contain inflation by hiking the federal funds rate tend to push mortgage rates upward.”
This suggests that NOW might be a good time to apply for a mortgage. Even if this relatively lower rate window is missed, other real estate experts see lower mortgage rates on the horizon. Reported by Forbes:
William Raveis Mortgage regional vice president Melissa Cohn says, “Mortgage rates will follow inflation rates in the next few months. If the rate of inflation continues to drop, mortgage rates will follow right along. In addition, new job creation and consumer spending will impact mortgage rates—if we see that fewer jobs are created and consumer spending declines, slowing the economy, then mortgage rates will drop.”
National Association of Realtors (NAR) deputy chief economist and vice president of research Jessica Lautz adds, “The 30-year fixed interest rate for mortgages has remained stubbornly high. The expectation is that the Fed will see the ease in inflation and there will be a ripple effect to the mortgage market. By 2024, NAR anticipates the 30-year fixed rate will be at 6%, which will be a welcome relief to potential home buyers.”
Tips on Getting a Good Mortgage Rate
Of course, lenders decide a homebuyer’s mortgage rate. However, the editors of Forbes note, “There are some proactive steps you can take to ensure the best rate possible. For example, advanced preparation and meeting with multiple lenders can go a long way. Even lowering your rate by a few basis points can save you money in the long run.”
Here are some other ways you can improve your chances of getting the best deal:
Take stock of your financial situation. For instance, start by looking at your debt-to-income (DTI) ratio—aka your total monthly debts against your monthly earnings—to determine how much home you can afford.
Review your credit score. Lenders look at your credit score to evaluate the risk you pose as a borrower. Paying down balances, limiting new credit cards and loans, and checking your credit report for errors can all work towards raising your score.
Meet with several lenders. Don’t go with the first lender quote you receive. Shop around to get the best deal—research various mortgage lenders and different loans you might qualify for to put yourself in a stronger position once you are ready to buy a home.
Save money now. The more you put down on a home, the less you’ll need to borrow from a lender.
Now Is a Great Time to Move Up to Creekshaw
Having a glorious home in the master-planned community of Creekshaw can be in your future with a little planning. Now is the time to begin the process. It starts with making a short drive to this idyllic small town and seeing what so many people have discovered about Creekshaw. It’s true. You’ll know when you’ve arrived!
Royse City, home to the master-planned community of Creekshaw (https://creekshaw.com/housing-trends-suggest-now-is-the-time-to-build-buy-in-creekshaw/), is one of the oldest cities in Texas. This sumptuous community, located between Dallas and Garland has become known for its massive pool in the multi-purpose amenity center and the luxurious hiking and biking trails that wind through the property. However, its convenient location is one of its most popular features.
This part of the “Upper East Side” of Texas is a charming place to call home and it is surrounded by other lovely and historically significant towns. For anyone looking for a fun way to spend some family time, these other towns are great for exploring.
Looking for Family Day Trips from Creekshaw? Here are 3 Great Ones
Distance from Creekshaw and Royse City – About 2 hours
As its website notes, “The rich and diverse history of Jefferson, Texas is told through numerous factual and romantic accounts, including those that describe its dramatic rise to prosperity during the mid-1800s, as the state’s largest and most significant river port. This period of prosperity has come to be known as “The Golden Era”. Jefferson erupted into a mid-19th-century boomtown with the help of a genteel, graceful society of successful and well-bred families, a host of nefarious opportunists, and a rich assortment of eclectic individuals, while offering a supply point and doorway to settlers and immigrants looking for a new life. She was and remains, The Queen of the Bayou.”
This city, on the banks of Caddo Lake, is a Bed & Breakfast mecca and thousands come and spend a couple of days browsing the dozens of eclectic antique stores, fine dining establishments, historic homes, and buildings on just about every corner.
Set among the pine forests of East Texas, Tyler is known for its blooming roses and vibrant azaleas, and spring flowers. Spend any time here and you’ll also discover it’s one of the most kid-friendly destinations around with plenty of exciting things to see and do for toddlers and teenagers alike. These include:
It wasn’t long ago that Frisco, Texas was pretty much a railroad crossing spot. Now, the entire world knows about it, thanks to the Dallas Cowboys, FC Dallas MLS club, and the Frisco RoughRiders baseball team. There are lots of spots going on, but a ton more to do.
Featuring more than 70 miles of trails, Frisco offers hikers, bikers, runners, and walkers plenty of pathways to explore. When it comes to arts and culture, Frisco has that going on as well. The city’s growing art trail includes the nationally recognized Texas Sculpture Garden. And no visit to Frisco would be complete without learning about Frisco’s rich history at the Frisco Heritage Museum, standing alongside “Big Boy” at the Museum of American Railroad, or playing Pong on the world’s largest home Pong console at the National Videogame Museum.
With so many things to do in this master-planned community of Creekshaw, not to mention the surrounding places to explore, you might run out of time, before you run out of fun! To see what everyone is talking about, click here and come see Creekshaw.
If you listen carefully, you can hear spring slowly slipping back into North Texas. Actually, that sound is probably the birds laughing it up. Nonetheless, their chirping is a sure sign that temperatures will be climbing, grills will be firing, kids will be daydreaming about summer vacationand the land will be turning green.
For many residents of Creekshaw, a master-planned community just north of Dallas in Royse City, it also means it’s time to dust off the garden gloves, remember where you put the shovel the last time you used it, and plant some flowers. For landscapers of all experience levels – from those who understand what the word “horticulturist” means to those who are just getting their thumbs to turn green – part of the fun of living in a gorgeous community like Creekshaw is making one’s own yard a little slice of heaven.
This process is made a little easier by the surroundings of Creekshaw. This beautiful, new community is known for its outdoor amenities. A hike-and-bike trail system connects residential areas with pocket parks and open spaces. Residents are also within walking distance of a sports complex, and an all-purpose amenity center, complete with a resort-style swimming pool, event pavilion, and landscaped open space.
The only questions that remain to be answered are: (1) what are the best flowers for the area and (2) where do you go to get some to plant in your yard?
The Best Spring Flowers for North Texas
According to the websites of several area nurseries including this one, “Because of the milder temperatures of North Texas, we see some amazing flowers much earlier than they do in the Northern areas of the United States.”
There is a general consensus of the “best” (meaning most likely to survive and make random strangers who are driving past your home, slow down and turn green with envy!) flowers for North Texas. Here are five to consider.
Dianthus This is a cool-season annual, which means it needs to be planted from seed every year in order to grow. According to the above source, the dianthus “grows here in North Texas November through April. The flowers of the dianthus come in both white and lavender in color. They grow to be about 12 inches tall/wide and should be watered every couple of days in well-drained soil.”
Geraniums Even if you’ve moved to the Royse City area from somewhere else in the country, you have probably seen geraniums as they are found almost everywhere. “But, here in Northern Texas, we get to enjoy them from February to May. Typically, they cannot survive the Texas heat past May,” this expert notes. “They are beautiful to grow in pots and keep on your porch, come in both an upright and vine-like form, and they come in a variety of colors from red, pink, and even white. They do require watering every couple of days. These are wonderful to watch the hummingbirds and butterflies at. They thrive in full or partial sun.”
Alyssum According to this nursery, alyssum makes a great ground cover. “It covers the entire area with tiny fragrant flowers. This tiny flowering plantdoesn’t last long in the summer sun. So, be sure that you enjoy it while you can. As it typically will not last past May. It is a short plant that only grows about 3-4 inches high but spreads out around 12 inches. It too requires watering every couple of days.
Petunia Many believe the MVP (most valuable PLANT) for North Texas Is the petunia. “It comes in all sorts of different colors and color combinations, is one of the most popular flowers for the spring and makes beautiful flower beds. Here’swhat a petunia looks like. They can be a mounding form, meaning they are a floral-like small bush or you can get them in a vine-like form. These can be combined into pots for some beautiful floral displays. They can start to bloom in February but will continue even into June. They are very hearty flowers.”
Gerbera Daisy Who doesn’t love a bouquet of flowers, sitting on the dining room table, especially if they came from your own backyard? According to this expert, “gerbera daisy has a very brightly colored flower or can also come in white. These flowers make amazing bouquets to bring inside. They will quite often grow to 12 inches tall and enjoy the partial sun with watering every couple of days. You will find that they grow the best from March to May here in Northern Texas. Once the heat is turned up, they don’t do as well. Here’s what they look like.
The Best Places to Find Plants Near Creekshaw
The mild weather around the Creekshaw community in Royse City, makes gardening very popular, almost year around. Some popular area nurseries include:
During the pandemic and continuing to 2022, many North Texas homebuyers learned what the acronym “FOMO” meant. Many real estate experts opined about how the “fear of missing out” drove home prices higher and higher. Fortunately, things have changed for the better for those families considering a new home purchase. No need for FOMO anymore!
In areas like the charming community of Royse City, located north and east of Dallas, the demand for new homes is still strong because of the relaxed lifestyle of this quiet suburban location. Plus, the master-planned community of Creekshaw, which is found here, has re-imagined what an amenity-rich development looks and feels like and the builders found here are offering excellent incentives to encourage buyers to come by and take a look.
Current State of North Texas Real Estate
According to news service Axios, “The Zillow data shows that average home prices decreased across North Texas between July and October (2022).” However, the introduction of state-of-the-art master-planned communities such as Creekshaw, with exemplary schools, unparalleled amenities, and convenient access to work, entertainment, and shopping in Dallas, kept the demand for property in Royse City steady to slightly higher.
Real Estate service, Redfin has this to say about the Royse City zip code, “The 75189 housing market is somewhat competitive. The average sale price of a home in 75189 was $352K last month (November 2022), up 3.0% since last year. The average sale price per square foot in this zip code is $170, up 1.2% since last year. In December 2022, home prices were up 5.3% compared to last year, selling for a median price of $355K. On average, homes in 75189 sell after 50 days on the market compared to 21 days last year. There were 371 homes sold in December this year, up from 350 last year.”
Compared to the staggering price increases for new homes in 2021, these small increases reveal more about the improvement of the housing stock (at developments like Creekshaw) and the continued prevalence of outstanding lifestyle benefits such as top-notch schools than anything else. Plus, the builders in Creekshaw are offering homebuyers even more reasons to build a forever home.
Builder Incentives = Lower Mortgage Payments
The innovative, satisfaction-focused builders in Creekshaw have developed some excellent incentives for new home buyers.
Highland Homesand David Weekley both have BUYDOWN financing incentives in effect through March 2023. Qualified homebuyers can enjoy lower mortgage payments for the first 24 months.
Not to be outdone, KHovnanian has ‘more ways to save*’ so you can choose your savings where you need them – loan programs, rate locks, or closing cost incentives.
Living Life Better
Strolling around the immaculate hike and bike trails, the resort-like community pool, the event pavilion, pocket parks, and green spaces, it is easy to see why Creekshaw is such a desirable place to call home. Plus, the Creekshaw builder incentives are designed for one thing. They want home buyers to experience the benefits of living life, better.