Plano Texas Real Estate Blog - Local Plano Real Estate.

Bubbly for the bubbles...



We would like to take this time and wish you a happy, healthy and prosperous
new year!  If you haven't seen the fountains at the Shops at Legacy yet, tonight
might be a place to ring in the new and throw a few pennies in for good luck!
Thanking you for your continued support and see you in 2009!

[where:75093,Shops at Legacy, fountains,Plano, TX]

Every once in a while we get contacted by like minded readers to help promote a cause or pass on a warning that relates to the housing industry. So this is a public service announcement about asbestos that I bet many don't even think about while remodeling a home.

Just like lead based paint was prevalent before 1978, so was asbestos used in home construction around the same time - guideline is built prior to 1980. The last thing you think about when remodeling or buying a foreclosure is a health risk could be involved when tearing your soon to be dream home apart!

Below is information from the National Awareness Coordinator - Mesothelioma Cancer Center:

It is important to hire professionals to examine the property for toxic building materials. Homes built before1980 have a strong chance of containing asbestos. Citizens of Texas should be aware that exposure to asbestos can produce significant health concerns. If you are interesting in saving money, remodeling or improving your carbon footprint, here is some valuable information to get you on that track. 

Predominantly used throughout the 20th century in many industrial products such as insulation, roofing, piping, brake linings and flooring products, inhalation of asbestos fibers can cause a severe lung-ailment known as mesothelioma, a form of cancer that takes the lives of thousands every year. Medical research has suggested that symptoms of the disease may not appear for 20 to 50 years.  

Texas has a large number of big cities, where asbestos problems have become a problem. In 1999, there were 125 reported deaths from mesothelioma. Further asbestos related lung-illnesses and respiratory problems have contributed to fatalities in Texas. Public service groups such as the Texas Department of State Health Services have initiated an asbestos program that provides services to prevent occupational and environmental illness through detection and control of asbestos materials.  

The removal of asbestos in public facilities and homes must be completed by a professional asbestos abatement contractor. Once the removal is complete, green alternatives should be considered, such as: cotton fiber, Lcynene and Cellulose. Permits are required for the abatement of asbestos projects when levels exceed the normal trigger levels. The type of professional will depend on the type of product and what needs to be done to correct the problem. 

With increasing technology and public initiatives, green alternatives exist which allow for an asbestos free environment. The United States Environmental Program states that the use of recycled building materials such as cotton fiber insulation can reduce energy use by 25 to 35 percent. These asbestos alternatives will not only reduce energy costs, but allow for a clean, healthy home, free of health damaging materials.

[where:75093,remodeling homes, real estate,asbestos]

West Plano Real Estate Median Prices

After the holidays many of you will call to inquire about buying or selling your
home.  So what are the prices now? What were they 6 months ago during all
the financial fiasco?  Take a look below and you might be surprised how well
West Plano Housing has held up.  Black line is current median prices by zip
codes and orange line is past 6 months. All charts are on a 90 day rolling
average.  Median Home prices are up for 75093 and 75024, slightly down for
75025. Not bad for the year end!  And another reason to celebrate!



[where:75093,75025,75204, median home prices, Plano]

Plano Homes and Land would like to thank everyone who has contacted us
through this site.  And wish all a peaceful holiday season and prosperous
new year!  We all need a little of that going forward. Thanks for using our
services, it's greatly appreciated.  Safe travels to all braving the elements.



[where:75093,merry christmas, happy holidays]

Rates are low...

Wow! Take a look at these Texas rates. If you're thinking about refinancing that 1st or 2nd loan or combining them - now could be the time. Check out this 20 in one mortgage calculator and refinancing tool to see.  I'm not a mortgage expert but you will have to have excellent credit to achieve these rates.  And Christmas could come early to those that have been NICE!  Seriously, the 20 in one calculators are the most popular used in real estate transactions so you might want to bookmark the above link for future reference.

[where:75093,real estate, financing]

No yard sign, but plenty of online marketing to virtually SOLD...
Yeah! I found my dream home...



Ahhh!  That 4 letter word that is nice...SOLD especially to seller's that have their home on the market longer than desired.  This time of year, many sellers will take their home off the market for the holidays thinking buyers aren't looking.  Now this year the problem is compounded with the economy and financing issues that face consumers.  So how do you get the extra edge if you take your home off the market and MLS?

Now, this is a true story that just happened recently.

A buyer's agent called me and said quietly, "This is one of those weird phones calls".  She stated.

I said, "Ok, lets hear it." (weird can be good)

She went on..."You have a property that's temporarily off the market on the MLS for some time, would your client still like to sell it?

She mentioned the property and knowing that we were going to put it back on the market in spring, I said yes.  I had left all web sites/pages, photos, flyers, tours, mapping and syndication (feeds) on the Internet, it was just not active on the MLS.  The buyer's client found it online - looked at photos, did a drive by and asked her agent if it was still for sale.  The agent was smart enough to look at all status changes and called. They did a walk through last week and will be writing an offer. 

You just never know about selling real estate but I do know you should leave all your options open as far as marketing your home online.  You never know where a sale is going to come from and you didn't have to show your home continuously, that's the hardest part of selling, - keeping your humble abode in showing condition while trying to their live too.  Don't underestimate an Internet Marketing Specialist - it just might get your home sold sooner than later.  And miracles do happen at Christmas!

[where:75093,real estate, home selling, marketing online]

Real Estate Junk Mail... please take me off the list.

I don't like junk mail - sure sometimes it's a necessary evil and it's still a valid form of marketing services.
But you should know if you got on an extra list and why.  It's come to my attention through past several closings that certain sellers were getting much more junk mail than they did before, meaning all things real estate related.  A seller should be aware that when a broker has other companies under their umbrella like a mortgage, insurance or title concern that a disclosure statement should be given to the seller to declare services as add ons they may participate in.  That being said, I'm sure there is a clause in the fine print that you will be put on a mailing list.  Who knew!   Well now you do and I'm sure you can opt out if you only knew you could and give proper permission in the first place.  Eyes wide open, please.  Stay tuned for extra fees that are being charged in closing costs that you can avoid...

[where:75093,real estate, junk mail]

Here's an at a glance view of the total Dallas Real Estate Market, for past 3 months and year to date.
Not too bad considering other states in the nation. As soon as market activity resumes, this time of
year is typically slower in real estate anyway, you will see closed sales, pendings (listings under contract)
and closed sales correct sooner rather than later.  All other barometers show a healthy market waiting for
the rebound.  Monthly indicator links have been updated on the right along with other area information, take a peek and see results for November and year to date.  All data is from the MLS and is deemed reliable but not guaranteed.

[where:75093, Dallas, real estate, market reports]

Getting More for Your Money in 75093


Every week we get current real estate results from the MLS and other public data.
Above is a price per sq ft chart for tony West Plano zip code 75093.  An interesting
side bar that might not be too apparent is that although home prices have been
increasing, homes listed for sale dollar per sq ft is declining.  This can be attributed
to remodeling of older homes, many luxury properties were built in the 90's.
Buyers are paying more but getting more for their money. It's a price vs. value thing.
Have a great weekend, looks like the weather is going to corporate.

[where:75093,price per sq foot, real estate]

Days on Market by Quartile - 75093

The next question after how much will my home sell for is how long will it take to sell?  It would be great if you could predict that time line.  And you can based a upon neighborhood trends and quartiles.  What's a quartile?  It's all sale price points of homes broken down into 4 median price brackets, most expensive, upper middle. lower middle and least expensive.  The chart below is for zip codes 75093, this will give you an idea based on public data from last week of how things are trending...


BLACK:   most $$$ - $1,167,500
ORANGE: upper middle: - $699,900
GREEN:   lower middle: - $449,900
BLUE:     least $$$: - $279,900

So realistically, you are looking from 105 to over 200 days to sell, to be safe add another month to close escrow.  The more competitive the sales price the faster the sale.  Knowing what you're up against is the difference between selling and sitting...

[where:75093,West Plano,average days on market]

West Plano zip code 75093


I don't think it's going to surprise anyone that Plano sales units are down - way down.  Total DFW sales were down 33% from last year and Plano was down 43%. Not surprising considering the economy, banks, the lending scenario and the time of year.  Plano year to date total sales are only down 15% (not so bad, a little positive optimism here) I'm a glass half - full type of gal.  Active listings are down 20% and months inventory is down 6%.  This is where the opportunity lies for the seller - selection is low, very low.

Despite sales being down real estate is so diverse - like foreclosures are the business of the day and leasing numbers are way up in every price point - makes sense in this market of uncertain times. And really - banks are lending money but you must qualify and stricter standards are enforced - went from too relaxed to too strict. In the middle would be good!  Rates are low and could go lower.

You can talk broad numbers all day long, but take a look at  the chart above - last week in tony West Plano zip 75093. Days on market are 164 - use to be 100 and the market action index is 15 - which is buyer activity - 30 is a balanced market, we have a ways to go.  Price seems to be holding and will with the inventory levels low but that always depends on the situation of the seller.  If you can offer seller financing or leasing opportunities in this market you will increase your chances of making a transaction work.  Buyers need to have your financing set in stone and you should be able to make a sweet deal.

[where:75093,West Plano,November real estate results]

Fabulous Fountains at Legacy



If you haven't been yet -  you need to go - this was last night late...even though it was
chilly outside it was worth it to get out of the car.  Music is piped in just like the rest
of the center but what you can't hear from a drive by is the awesome sound of the
ocean, really..the water sounds like the coast of somewhere.  The pipes are powerful
on this baby...guys will like the hardware.  It's funny or very good marketing (probably
the later) that one of the restaurants is called Coast, left side is Benihana. You can
read about Plano's Legacy Fountain project has long been a spectacle here, good
article about the politics involved but no photos, so here you go....it's located on the
new side north of Legacy.



[where:75093,West Plano,Shops at Legacy Fountains]

West Plano Inventory Drought by Units


Now drought might be a little extreme but this graph shows how low the supply
of homes has become from the past couple of years.  I will never make a blanket
statement on it's the right time to buy or sell because that depends on each
individuals situation and needs but the graph show the unit dive for zip codes
75093, 75024 and 75025.  With that in mind - prices are stabilizing in some
areas and demand for housing is increasing.  Take a look in your neighborhood
and if there's not a a lot homes for sell, it could be time.

[where:75093,West Plano,housing inventory graph]

Awesome Fall Foliage


The leaves are late turning and falling this year but beautiful nonetheless.
East coast and mid west folks have to get use to this...it's Dec. 4th.

[where:75093,West Plano,fall colors]

New Foreclosures in West Plano

With foreclosures so prevalent everywhere in the nation I've been posting a direct MLS public link from the North Texas Real Estate Information System on this site for quite some time.  There are always around 18 to 30 foreclosures in West Plano zip codes 75093, 75024 and 75025.  This business is going to be around for a while till the lender mess is sorted out. I would go as far to say that any foreclosure in West Plano would be a great investment but some stand out more than others.  Like what? you might ask????

A couple days ago a new REO (real estate owned)  property popped up in Willow Bend North, you can check the West Plano Foreclosure link here or click the photo on the upper right. It's on Bassinghall and needs a total update but the value would warrant it if you could buy it right. Foreclosures are not easy to buy but could be worth all the aggravation in the long run.  In my opinion, Banks will want to get properties off their books before the end of the year.  Happy Holidays to you!

[where:75093,Willow Bend North, Plano, real estate, foreclosures]

Might just be time...

With interest rates dropping a 1/2 point last week - buyers are seriously contemplating
jumping back in the market.  If you look on the right side bar under Texas rates you
can see a 30 year fixed at 4.93%, (it fluctuates with the market) yesterday it was 5%
and that's a whole point lower than a couple of weeks ago when it was 6% and above.

Cheaper money? yeah, now that's talking!  Don't know if it will go to the 4.25% that
was available in 2004, but nobody knows that.  I've mentioned before that West Plano
is low on inventory so if you're thinking about selling, it could be time now.  To get your
home ready concentrate on the improvement of areas buyers want most.  What are they?

• Kitchen
• Garage
• Master Suite

A good cleaning and organization of these areas might be all you need. If your home
was built in the nineties it would be good to update your kitchen and that means
appliances too.  With all the deals out there it could be a way to recoup your money
and sell quickly.

[where:75093,home selling, buying real estate]