About Hidalgo County, TX

As with most of the country, real estate transaction volume in the McAllen Texas area has dropped. During the 4th quarter of 2008, sales decreased to 535 homes sold. Some of the factors contributing to the slowdown include the seasonality of real estate, the tightning of credit and buyer hesitation caused by media hype. Many files that were in process of closing were also delayed due to underwriters "overanalyzing" files.

During the 1st quarter of 2009, sales had a slight increase to 544 homes. But volume is down 15% compared to the same period last year.

In 2008, Foreclosures continue to gain market share as a significant component of the local real estate market. During the first quarter, REO / Foreclosure properties accounted for 47% of all closings. They only represent 11% of the inventory (233 of the 2,146 active residential listings) The turnover rate of REO listings is less than 3 months.

Banks are becoming more aggressive to move these foreclosures, which has dropped the average price of sold homes in this market. The banks are pricing their foreclosures so competitively that multiple offers will be presented, especially if the house meets FHA guidelines. The average sold price dropped 14% compared to the 4th qaurter of 2008 to $110,035.

On a positive note, the lending process is improving. As we enter the traditional selling season, many potential buyers are coming off the sidelines and are ready to take advatage of the bargains and claim an IRS tax credit for 1st time buyers.

Interested in building your dream home in the Sharyland School Zone of Mission, Texas? Lot #1 of Dublin Estates is currently available. This neighborhood is only two blocks north of Shary Elementary on Glasscock Road. With dimensions of approximately 108 feet by 201 feet, there is plenty of room to build your luxury home on this half acre lot. It is perfect for a single story residence with a pool.

The neighborhood is a single culdesac street to minimize traffic and the west side of the lot has the block community fence along Glasscock Road.

If you are interested in viewing this lot and subdivision, please contact me to coordinate an appointment.

Price & Details

Bentsen Lakes is a prestigious community located in Southwest McAllen. The neighborhood has controlled access (gated) and includes a private park. The community park has a beautiful pool, tennis court, play equipment, basketball and soccer. Though in the city of McAllen, this subdivision is zoned for the Sharyland School District. The elementary school is only blocks away and is named after Lloyd M. Bentsen Sr. (father of former US Senator) and his wife Dolly.

Elementary school website

The neighborhood is convenient to many new commercial developments along Highway 83, connecting McAllen to Mission. It is only minutes away from the Club at Cimarron, a premier private country club.

For more information about buying or selling a luxury home in Bentsen Lakes, please contact me. Click below to view the homes currently offered.

Bentsen Lakes Homes for Sale

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