Plano Texas Real Estate Blog
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Nicely Restored 1957 Ford Skyliner



One of our local daily driver at Super Wal Mart on Dallas Parkway in West Plano.
It's original - new paint and rebuilt motor.  It looks black but it's really charcoal grey
and coral and yes the colors are original 57 Ford colors.  Awesome!

Has the market hit bottom?

The truth is you never know until after the fact but if you buy and sell real estate all the time you'll be more right in the long run.  Below is data from the NTREIS (North Texas MLS) for Collin County.  You can see sales have increased 12.4% over last year quarter, which is not saying much since 2011 was not good.  Although, this is positive overview you really have to drill down individual areas to get the real story.  Where are things selling?  It's still first time home buyers and zip codes, Plano - 75023, 75075, Allen - 75002 and Richardson - 75080 are strong because of opening price points of homes.  Sales are up 30% to 50% in these zip codes.  Overall the inventory of 4.1 months is extremely low and shows signs of a sellers market, yes - a sellers market.  Be prepared for multiple offers and be careful not to over bid, better to find another home.  If you have any questions let us know.

West Plano Zip Codes

If you're relocating to Plano Texas and don't know anything about the area then you have alot of work to do.  There have been many requests lately about zip codes of the area so I will try and give you some perspective.  See the map above for zip code guidelines for all of Plano.  Basically, West Plano is 75093, 75024 and some of 75025.  There are all price ranges in single family homes, condos and town homes, although inventory for condos and town homes are very limited.  The best way to search West Plano is by zip code or the pre defined neighborhood searches on the menu and sub menu to the left.  This will give you a good idea of the available inventory of homes and styles.  One thing that's very hard to find in West Plano are large lots that would accomodate a pool as well as a grassy area.  These are considered prime properties and if priced correctly will have multiple offers.  The inventory is very low right now so you'll see properties flying off the market and multiple offers as obstacles to overcome.  Always try and have more than one home to offer on so you won't be disappointed, actually you should have 3 in this market to be safe.

3.8% National Real Estate Sales Tax to Pay for Obama Care

Just when you thought you couldn't be taxed any more here comes another one.  Congress passed this in 2010 and it is complicated.  Below is a link from the National Association of Realtors on the ends and outs of the new tax.  Just so you know it does not effect all real estate.  Like I said it's complicated.  Basically,  if your income is 200K for single or 250K for dual you'll be considered a club member.  This tax is to pay for Obama Care in case you asked.  I don't like surprises so pass the link on to help others if you like.  Hopefully, it will stay in the proposed category.  The link below provides information on the 3.8% proposed tax on investment income and real estate scenarios.

Tax brochure for business that helps pay for Obama Care

Read Below for The Very Best Way to Start House Hunting....

Do you want to know the best way to start the home buying process?  Online, of course...to do research but the process is mostly physical work.  If you're not familiar with an area or just kicking tires the best way is to preview selected areas is by open houses.  This weekend is national open house weekend - April 28-29.  So, get out your running shoes and preview as many as you like.  It'll give you much depth into a local market. Remember, the listing agent represents the seller, ALWAYS so just exchange common courtesies and keep comments to yourself.  I see too many buyers want to go direct and pay too much money because they don't understand the real estate process.  The listing agent does open houses to get you as a lead...plain and simple.  Knowing this will help you quickly tour homes and cut out all the sales pitch.  Enjoy the weekend, there's an open house link to the left...some open houses are on Sunday from 1 to 5 PM, most are only open for a two hour window, usually 2 to 4 PM.
In Plano, so far there are 57 open houses for this weekend, I imagine there will be over 100 by the time Sunday hits.