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Dotherightthing
Member since Mar 2017
342 posts

Home values affected by DLSD
Anyone have experience with their home being undervalued do being in neighborhood with DSLD or comparable builds? or received an appraisal where custom built home was compared to a DLSD or comparable company.


TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
75216 posts

re: Home values affected by DLSD
If DSLD/Horton come into an existing neighborhood that wasn't originally DSLD/Horton developed, 100% of the time the home values of the existing homes will suffer.


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381
Huey Lewis
LSU Fan
BR
Member since Oct 2013
3050 posts

re: Home values affected by DLSD
If DSLD drops 400 comparable houses within a quarter mile, the issue is that the market is suddenly flooded. Ballpark estimate I'd say 2-3 years after the development is fully sold it should all start to stabilize, maybe longer.

I haven't been in that situation myself, but if I was I would maybe try to hold on to the house for a few years.
This post was edited on 9/30 at 4:16 pm


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20
LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
18790 posts

re: Home values affected by DLSD
Unfortunetly, "comps" isn't an exact science. I would push your appraiser to adjust the comps, if he can, for the differences between quality. Or try to find comps that aren't DLSD / tract housing.


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60
SulphursFinest
LA-Lafayette Fan
Lafayette
Member since Jan 2015
2659 posts

re: Home values affected by DLSD
I’m having a DSLD home built right now. The price and product was way better than what I could get a 40 year old house for.

Also, don’t plan to live there longer than 10 years, and I’m renting now.

The quality of the homes didn’t seem bad at all. Maybe not as fancy and well built as a $300-400k house, but they look nice and well built.

Has anyone had bad experiences with them?
This post was edited on 10/1 at 1:59 pm


lsu13lsu
Member since Jan 2008
7378 posts

re: Home values affected by DLSD
Do you get a warranty with the home? Someone was telling me 5 years on them. I thought that was pretty good.


SulphursFinest
LA-Lafayette Fan
Lafayette
Member since Jan 2015
2659 posts

re: Home values affected by DLSD
Yeah 5 years on everything. Also don’t have to put any money towards the house until it is completed and I approve everything.


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TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
75216 posts

re: Home values affected by DLSD
I've owned 2 of them - no complaints on the quality but I didn't stay in them longer than 3 years each. I just didn't like the clear cut, no trees, every house looks similar vibe of the neighborhoods. I have no clue how they would hold up 10+ years down the road.


SulphursFinest
LA-Lafayette Fan
Lafayette
Member since Jan 2015
2659 posts

re: Home values affected by DLSD
How was the resale on them? As long as I don’t lose money I don’t care.


Ray Finkle
LSU Fan
Collier county
Member since Sep 2007
1177 posts

re: Home values affected by DLSD
We call DSLD neighborhoods instant ghetto's.

If they build near me, I'm selling the next day.


Tiger Prawn
LSU Fan
Member since Dec 2016
14046 posts

re: Home values affected by DLSD
My last house was DSLD. Bought for $212K, sold for $250K about 4 years later.

Quality was decent. Only had a handful of minor issues after moving in. But DSLD comes out 3 or 4 times throughout the first year for follow ups. Think they called it a warranty inspection, but it was mostly just touching any up minor issues you noticed(fix rough trim cuts, re-caulking trim, adjust doors, fix weather strip peeling off front door, etc).

Wasn't a fan of the cookie cutter look of the neighborhood where every house looked almost exactly the same. Now that I'm in a custom built, I'd be a little mad if DSLD or Horton started building a neighborhood right next to mine because I wouldn't want the cookie cutter comps having negative affect on my neighborhood's value.


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60
TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
75216 posts

re: Home values affected by DLSD
quote:

How was the resale on them? As long as I don’t lose money I don’t care.

Sold my first for a 10% profit after 3 years (was a lower end low cost neighborhood in the middle of Mandeville so demand was high)

Sold my second for what I paid for it after 3 years so I took a loss on realtor fees.

THe Northshore is so saturated with DSLD/Horton neighborhoods, it is really hard to sell a used home in a DSLD neighborhood when they are building brand new ones for the same price down the road.
This post was edited on 10/2 at 12:54 pm


HamCandy
LSU Fan
Team Meat
Member since Dec 2008
758 posts

re: Home values affected by DLSD
Lived in a DSLD Hood for 5 years, still own the house and its value had gone up roughly 14%.

The warranty period for the new house was 2 years for us and I've never met a builder who was as responsive as they were about getting something fixed. So this is a major plus if you buy new.

That being said...

This particular neighborhood had three phases, the first phase was completed by another developer with houses for 300K, once DSLD bought phase 2 and 3 and started building 200K - 240K houses everyone in phase 1 took a bath!



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30
SulphursFinest
LA-Lafayette Fan
Lafayette
Member since Jan 2015
2659 posts

re: Home values affected by DLSD
Instant ghettos is a tad extreme lol.

Apparently people who have lived in them have good things to say. The obvious downside is the cookie cutter every house looks the same aspect. But at this point in my life, I don’t care.



MorgusTheMagnificent
Grambling Fan
Louisiana
Member since Dec 2014
1299 posts

re: Home values affected by DLSD
Dsld houses are shitty. They use the cheapest materials possible. I suppose if your plan is 5 years then move you’re okay, but these houses are not built to last


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62
Mr Perfect
Lamar Fan
Member since Mar 2010
11302 posts

re: Home values affected by DLSD
quote:

Sold my first for a 10% profit after 3 years


lmao 3.3% gains per year and you lost on the next one

dude you should be renting and investing elsewhere. do not listen to homebuyers. they are completely clueless fr


TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
75216 posts

re: Home values affected by DLSD
You obviously haven’t read my stance in this thread. In no way am I saying it was a good investment


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Triple Bogey
LSU Fan
19th Green
Member since May 2017
2758 posts

re: Home values affected by DLSD
They're essentially brick and mortar mobile homes.


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lsu13lsu
Member since Jan 2008
7378 posts

re: Home values affected by DLSD
quote:

THe Northshore is so saturated with DSLD/Horton neighborhoods, it is really hard to sell a used home in a DSLD neighborhood when they are building brand new ones for the same price down the road.


That is the problem with buying a Horton, DSLD or Level Home. When you try and sell you will be competing with brand new construction in a subdivision right down the street.

You won't be able to warranty it or give them the finishes they want but Level, DSLD or Horton can.

I don't see how they would be good investments unless it is one of the last neighborhoods that can be built in an area.


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lsu13lsu
Member since Jan 2008
7378 posts

re: Home values affected by DLSD
quote:

The obvious downside is the cookie cutter every house looks the same aspect.


I think the biggest downside is will you be competing against them or another tract home builder when you want to sell. Because if you are then you cannot compete with them.


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