Plano Texas Real Estate Blog - Local Plano Real Estate.

What's New For Sale in the Neighborhood?

New listings are going to be a regular posting at Plano Homes and Land.

This weeks new real estate listings are from the past 7 days - all brand new!
No re-lists here. West Plano zip codes featured are 75093 and 75024
and there are 46.  All subdivisions and price points.

I would say that our market is about two months behind, but it's starting
to shows signs of good activity.  March stats should be much better.

That will be posted later this week, stay tuned...

[where: 75093,75024]

Open Houses for Sunday

Open houses are back!

Don't know if you'll need an umbrella, but here's
your customer open house list for 75093.

Activity has picked up this month and sellers
should or will be seeing more showings on their homes.

Information is from the MLS with basic data about the
property and times of open houses.

Have a great weekend!

[where: 75093]

Foreclosures in Plano - 75093

Well, it's Friday and for the time being we do foreclosure lists
for different Plano zip codes to help all the lenders out and get
some sold, hopefully.

This is your virtual bus tour and you can find the most current
properties on the market.  So, we don't serve snacks or anything
like that.  It's self-serve.  But if you have questions, just ask.

Here's the current foreclosure tour for this week. As Always,
this list is from the MLS and is deemed reliable but not
guaranteed.

[where: 75093]

New Listings this week for 75093

Want to know what's new out there?

Here's a list of new properties that have just come on the market the past
7 days in zip code 75093.

New listings have the most activity during the first 5 weeks of showing.

Often these properties will sell quickly if they are better than the competition
and priced correctly.  Take a look...

Friday's foreclosures and open houses will be posted on Friday.

[where: 75093]

Argyle by way of Plano, Acreage Lifestyle

When you relocate to an area you know nothing about - it's good to investigate
the surrounding communities to find what your looking for.  For example, you
may contact us about Plano, but end up somewhere else.

Above is a photo of a property we previewed in Argyle yesterday. It's Northwest
of Plano about 30 minutes off the I35 corridor.  If you want country living with
acreage, horses and the ranch lifestyle, this could be it.



There are many gentleman ranches and a laid back attitude to enjoy.  Along
with wide open spaces and plenty of longhorn cattle, it's really Texan.

[where: 76226]

Live Green in Plano Expo

Plano started this family event last year and continues the Live Green Expo
On April 12th - from 9:00 a.m. - 5:00 p.m. at Plano Centre.

It helps us make informed decisions and take action to be more healthy
with less impact on the environment! Sounds like something every North
Texan could use...

And best of all it's free.  Many exhibits, products, new services etc. etc.
Lots of stuff on music, art, food (now you're talking) and activities for youth and
children.  Check this link for more info.  it's all about protecting the environment,
sustaining our neighborhoods and educating everyone. Go Plano!

[where: 75093,75024,75025]

Market Data for Plano Year to Date

Hope you had a nice holiday!   Here's a year to date update for Plano in Collin and Denton counties.
This shows the current market as it is now, Take a look below:



New listings are down 12% from a year ago, as well as sales -18%, But by the time the numbers are adjusted for February - meaning all sales report that should come down to 9-10%.  Notice average price has come down 4%, not too bad... and list price received at sale is lower at 93.8%.  That means sellers are making more concessions to sell.  Days on market is 80 up form 71.

The monthly indicators have all been updated on right side bar for other cities in the metro area. It's a one page PDF file in a graphic format.  Info is deemed reliable but not guaranteed and is from the MLS.  Good info to know, if you're thinking of buying or selling.

[where: 75093,75024,75025]

More Healing Powers...

Happy Easter to you and your family from Plano Homes and Land!

The Healing Powers of Chimayo

I usually post Open Houses for Sunday, but because of the Easter Holiday
there aren't any that come up in the MLS.  So, here's an Easter Open House
from our trip to New Mexico last year.

 

The photo is Santuario de Chimayo that was built in 1816.  It's a massive adobe
chapel that's known for a 6 foot crucifix and healing the sick.  In the chapel there's
a small room that has a hole with fine red dirt and a small garden shovel.
I'm not kidding, people come from all over to rub in the dirt for it's healing miracles.
You can't take photos in the church but it's worth the visit, about an hour out of
Santa Fe on some scenic winding roads.



The grounds are magnificent and a shrine to many, these crosses are lit at night
with tiny white lights and are a site to behold.  It's a poor, rural community with
a very rich history. And good local Mexican food too.

[where: 75093]

Foreclosures for 75025

Well it's Friday - and it's spring! Good Friday that is.
This weeks foreclosure list is for 75025.

A couple things about foreclosures in this market...
watch for games being played, some homes are being
drastically reduced in order to bid up the price with multiple
offers.  So know your pricing in a neighborhood.

Also, with the blood bath this week, maybe lenders will
decide they really need to sell homes instead of holding
on to them to get the best price.  Time for the real investors
to come out and make your money going in.

[where: 75025]

Are You A first Time Home Buyer?

Yesterday I was doing some demographic research for a client and came
across this on the City of Plano site.  And guess what?

City of Plano has a first time buyer assistant program, you must qualify
and if you do, you can receive up to $5,000!  Yeah!

You may use it for down payment or closing costs.  Your financing can be
VA,FHA or conventional.  Of course, you have to purchase a home in Plano.
This might help some folks get into a home by taking advantage of this service.
The link has all the information to apply.  Pass this along if you know someone
that needs some help. This could be just the extra money needed to buy a home
of your dreams.

[where: 75093]

Market Data for 75093 - last week

Here's last weeks activity in 75093, since many of you are watching the
market trying to decide what to do - or when to move.
Take a look at the charts:


Inventory is important to watch, total Plano inventory has come way down from last
June, sits at around 1300 units. The orange line shows 75093 inventory which has
also decreased from a year ago, give or take a little.  The take away - inventory is
not out-of-control in Plano, in fact it should be better for sellers.




The chart above is from the MLS - it shows activity in 75093 for last week ending
3.16.08.  Around 267 units for sale, 7 properties sold, 6 pending (waiting to close)
and 17 properties had contract offers and are in inspection periods.  In fact, Plano
has some of the lowest inventory  in the DFW metro  area - 4.2 month supply.
That's Positive News for Plano. 

Info deemed reliable but not guaranteed.
[where: 75093]

A Short Sale Story

Are you interested in foreclosures and short sales? Right?

Think you're going to make a steal? Well maybe...

This is a true story that happened last week- a short sale that's listed
in a great neighborhood in West Plano - 75025. 

A little background...

A short sale is a pre foreclosure meaning the seller went to the bank and
asked permission to sell the house for less than what is owed.  Bank must
approve this step.

The home is priced at $213K in a neighborhood that's low side is $250K.
Dollar per sq ft is $74, where a perfect home in this neighborhood could be
$90 plus.  Location is an interior large lot and home only needs carpet and
paint as far as I can tell without an inspection. Can't beat the floor plan.
The property is a winner!

One thing about a short sale is you need to inquire about any past liens or
property taxes due - sometimes these have not been paid and you have to
add it on to your tab.  So I make a phone call to the listing agent....

A day went by, then another day, Day 3 - I got a response...

"So and so... did tell me you left a message regarding the property. No,
there are no liens, not sure about outstanding taxes but will check with seller.
BTW, an acct mgr has finally been assigned, so hopefully we can get the ball
rolling. We have 8 offers on the table - 2 have been submitted to the bank for
review and waiting to hear back.  I've also asked the acct mgr about property
taxes but have not heard back.  We do have a full price offer but encourage
your buyers to submit one as well.  That is providing the acct mgr approves
the $213K asking price, which we think he will."

Are you kidding! the listing agent doesn't have approval on the list price!
That's just a waste of time, and it's Monday and I still don't know if property
taxes have been paid, that could add another $4.5K or so. 

So, on a short sale, be prepared to wait and wait and wait...And sometimes
you might not get any answer, the banks don't know how to sell real estate
but maybe they'll learn.

Some you go after and some you don't!  Make sure you have a couple of
homes to chose from.  The banks are making it very hard to sell their
properties, especially if you don't know what the price is!

[where: 75025]

Open Houses for Sunday

photo by SKWomack

Here's this weeks Open Houses in Plano, zip code 75093.
Link is a PDF file with basic info, photo and times the properties will be open.

Subdivisions included are:

• Willow Bend Lakes
• Castlemere
• Greens of Gleneagles
• Fairways of Gleneagles
• Windhaven
• Willow Bend West
• Lakeside
• Preston lakes
• Creeks of Willow Bend

There are some beautiful homes in this collection, go see for yourself
if time permits.  Have a great weekend and enjoy the weather. Spring has
been a long time coming this year.  As always, info is deemed reliable but not
guaranteed and is from the MLS.

And if you're heading down to Park Cities,
here's a list of open houses on Sunday.

[where: 75093]

Foreclosures for 75093 and 75024

Every Friday we post foreclosures for 75093 and 75024.
A few new ones, one in Cypress Creek and Meadows
on Gleneagles.  Other sub divisions include Preston Meadows,
Kings Ridge, Crystal Creek, Lakeside, Windhaven and Shoal Creek.

Of course, these aren't all - but ones that have been posted in
the MLS as such.  All information is deemed reliable but not
guaranteed.  Link above is a customer brief report in a PDF file.

A foreclosure tip is to already have your financing lined up with
a pre qualification letter, or better yet - get pre approved.  Banks
and lenders will not even look at your offer without it and if you have
cash, all the better.

[where: 75024, 75093]

Foreclosure Tips

The market is full of foreclosures and we're getting many questions
about them and the process. To help explain, simply:

A foreclosure starts at the court house steps and in Dallas it's the
first Tuesday of every month.  If it's not sold at auction, then the lender
will hire a REO (Real Estate Owned) broker to list the property for sale
on the MLS.

Many out of state buyers have inquired about the process and this is
what happens in Texas prior to being put on the MLS.

Because of market conditions, many homes are in poor condition and
priced too high.  However this past weekend, we did find some perfect
move in ready foreclosures.

Lenders and banks do not know how to sell real estate so be prepared
with some other options if your deal goes south.

[where: 75093]

Plano Real Estate Results

Despite the market news of doom and gloom we still get up
everyday and go about our lives and buying and selling real
estate is one of them.

Here are February numbers for Plano which are down but
better than areas inside the loop, could be it's more affordable
here and schools are excellent.  Probably.

Plano Breakdown

Sales:                     239 units     down 12%  from a year ago
Avg Price:              $247.            down 6%            "
$ per sq ft:               $93.            down 6%
Sale to List:              97%           flat
DOM:                       76              up 12%
Pending:                 285 units      down 9%
New Listings:          448 units      down 28%
Active Listings:      1405 units      down 6%
Months Inventory:      4.2             up 5%

What it Means

The Plano real estate market has adjusted gradually with
the decline of sales the last few years and the price of homes
are very affordable and never had a heavy price appreciation
as some other areas in the metro.

New listings vs active listings have stayed in balance making
the months supply (4.2) one of the lowest in the DFW area.
For example: North Dallas and Park Cities months supply is
around 9 months.

It's going to take longer to sell your home, no doubt about it.
So pricing is critical and the most important sales strategy you
can do.  Watch for the new monthly indicators by city on the right
side bar, it comes out around the 20th of each month.

If you're thinking about jumping in the market you need to know
the stats. You can find neighborhood stats here.

[where: 75093]

Sounds good to me...

This photo is a new pastry shop that just recently opened at The Shops
at Legacy.  Handmade cakes, cupcakes and pure sugar pleasure.
Custom, refined and very pretty, and yes, a pure sugar rush.

It use to be the old southwest gallery space, guess people like to eat more
than shop. Seems when a retail shop goes out - an eatery or entertainment
venue goes in.  Next to this sweet pastry shop is a chocolate factory (chocolate
covered bananas) and a cold stone creamery, like the sign says: eat dessert first
and it's easy to do here.  Jaspers and NAAN are right across the street.

The Shops is becoming a mini city into itself, looks like West Plano has our own
downtown and it keeps getting better all the time. The link is "The Shops" new
web site, it's flash so it's a little slow and glitzy.

February stats are posted tomorrow and for Plano it's not that bad.

[where: 75024]

OPEN HOUSE SCHEDULE

Hot off the white board and the MLS is a list of Open Houses in
75093 for this Sunday.

Subdivisions included are:

• Willow Bend
• Lakeside on Preston
• Preston Lakes
• Fairway of Gleneagles
• Windhaven
• Steeplechase
• Glenmeadows
• Stone Lake Estates
  

Click link below for your tour...Happy Hunting!
Open Houses in 75093 for Sunday 3.9.08

[where: 75093]

Foreclosures in 75093 and 75024

Just in time for the good weather that's here.
Foreclosures do look better in the sun!
This weeks list is for 75093 and 75024
A couple new ones and if you don't know...

FHA Loan Limits Increased Yesterday

Dallas and Collin County Limits are:

 

One-Family        $271,050

Two-Family        $347,000

Three-Family      $419,400

Four-Family        $521,250

 

Remember on FHA......

 

3% Down Payment

Seller contribution up to 6%

This could provide some good incentives to buy, make
sure you ask your broker about the program.

[where: 75093]

Shops at Legacy - 4:30 PM yesterday

This was yesterday late afternoon at the Shops at Legacy.  Taking a blissful
stroll down Bishop, all outdoor cafes were set up to dine away.  It was a perfect
74º, no wind and very sunny.

Flash forward to right now,  it's sleet, rain, snow and a bone chilling 32º.  That's
North Texas weather for ya, hopefully we'll be back to normal next day or two.
Be safe coming home, we don't do well in this kind of stuff.



[where: 75024]

Inventory of Plano Homes

Take a look at the inventory situation from last Sept. Levels have fallen to under
1500 units in Plano. Dallas hovers right around 5250 units.  Despite market
conditions inventories are lower than normal.  Watch for inventories to pick up
after taxes are due.

[where: 75093]

Does it Snow in Plano?

Every once in a while it does snow in Plano.  Last night the forecast was for
an Arctic Blast.  This is all we got, the streets were way to warm for anything
to stick, now it's sunny, cold and 38 degrees - BURRRR!  And Yes, we did
have school closings, but they opened at 10:00 AM.


[where: 75093]