Plano Texas Real Estate Blog - Local Plano Real Estate.

   Happy Halloween!

Looks like it's going to be great weather for trick or treat! If you're looking for an online photo editing tool, PICNIK is free of charge and easy to use and of course you can upgrade for other tricks.  Have a safe Halloween and don't eat too much candy.
[where:75093, Plano, TX, Halloween]

Real Estate Update for Windhaven & Castlemere

Activity is very good in both neighborhoods, take a look at the absorption rate under inventory analysis.
This is a very good indicator of how fast your home will sell. It takes the total sales units and divides by the
total inventory for a year. You see there is only a two month supply of homes for the absorption rate. A normal inventory is 4-5 months. Also take a look at the median sales price -  there is a 11% increase from last year.  Median Days on market is around 30 days. Of course, this depends on the location, condition and pricing of the home.  This is an example of two neighborhoods that are doing well.
[where:75093, Real Estate Update, Windhaven, Castlemere]

Woodall Rogers Destroyed in less then 48 hours

This was taken from 1999 McKinney Lofts, started late Friday afternoon and this was Saturday evening.
Next weekend St. Paul will be demolished and they will fill in for the posh park, kinda like Central Park but a Dallas version to go along with the Arts District.  I bet some never thought this day would come but it will soon be a reality.
[where:75201, Dallas, TX, Uptown]

  Willow Bend Real Estate thru Mid Oct. 2009

Even though the market is tougher, sales have picked up from prior 4-6 months.  23 sales units is greater and inventory is larger, around 89 homes are active.  Prices are holding somewhat too but that is because steep reductions have already been taken and the final sales price is around 96.5% of list.  Lately there is more activity in the high end market with homes going under contract but most I see have a large down payment and keep the loan amount under the jumbo limit of 417K.  Interesting...
[where:75093, Plano Real Estate, Willow Bend Update]

5908 Wight Street - Open Sunday - 2-5 - Windhaven

This is perfect weather for House Hunting. If you're looking for that one of a kind luxury home that has been beautifully updated then this very well could be it.  Take the tour below and then come to the open to see the real thing.  It's a very rare find in today's market and a property that is move in ready!  See you Sunday.



[where:75093, 5908 Wight, Plano, Windhaven]

   HARVEST

This looks good, doesn't it? My sister is a caterer and this was a recent set up for Bank
of America in Plano up at Legacy. One of the main short sale centers in the country.
Yep, in our own back yard, if you didn't know. And the corn looks good enough to eat.

[where:75093, Plano, Legacy]

Collin County Update



Here's a look at Collin County results for September. The most positive thing about this is
prices have fallen very little compared to other regions in the country. Still a buyers market,
but inventory levels are down 21.1% from a year ago and with mortgage rates lower it presents
a wonderful buying window right now.  To be honest, I don't know how long the low rates will last
because they have been low for so long...that will change. I don't have a crystal ball but timing is
crucial.  If you're ready to buy the timing is excellent.  If you're ready to sell the inventories are low
and this presents a good time to consider your options.

[where:75093, Collin County, real estate update]

Plano Real Estate Update by Neighborhood

As you know there a lot of great neighborhoods in West Plano and today we'll look at Deefield, Whiffletree, Preston Meadows and Glen Meadows.  There are so many conflicting reports and real estate is local, so neighborhood information is very valuable. That tells you how the market is.  The charts below are from the MLS and although it goes back a year it's broken down by prior periods as noted.  The best rule of thumb now is go with the last 3 months for a more accurate picture but it's good to see where we come from and  if the market is better or worse...

   DEERFIELD - WHIFFLETREE

As true in many West Plano neighborhoods inventory is down in Deerfield and Whiffletree.  Sale price has drop but has been fluctuating, days on market is 74, less than 3 months, that will be a home in good condition, location and priced to sell.  And they can sell quicker than this.

  PRESTON MEADOWS


Sales have improved in Preston Meadows from last year. Again inventory is low. The sales price to list price of 98.3% means properties are priced competitively and selling close to list price.
 
  GLEN MEADOWS


Glen Meadows has been selling half their inventory the last two periods, again supply is low. A 99.24% sale to list price is outstanding for this jewel of a neighborhood. Also, take a look at the current sale price, it's up substantially from last two period meaning there is demand for this neighborhood.
[where:75093, West Plano real estate update]

Big Changes Coming October 28


The MLS rarely does updates, in fact,  it's kind of behind but with great sites like Trulia and Zillow that have pushed the envelope as far as what consumers want and demand, they are making progress.  Accurate information is key and using technology is mandatory.  Here are 3 great things for you to look forward to:

• For example, by the end of this month 25 photos will be allowed to be entered for each listing on NTREIS, North Texas Real Estate Information System).
  

• All Open House Dates and Times will be on all full customer reports and all IDX feeds (Internet Data Feeds) those are the listings that come directly from the MLS, like on this site.

• And Clarus Market Metrics, California MLS's have been using this for awhile, you can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or posted online.  Any agent will be able to target a specific zip code for their report and in some cases a map code or even a school district. It will keep you up to date information on local real estate market trends and conditions. Current and historical data already in the local Multiple Listing Service (MLS) is used to produce detailed, highly visual and easy-to-interpret reports that help you buy and sell real estate. Whew...Can't wait!
  

Being the data geek I am you will find reports posted online here.  Anything to make the home buying and selling process easier. And using actual MLS data is far more accurate than public data assembled by algorithims.  That's the one thing about all the information online, it's great -  but can you trust it?

[where:75093, MLS Update, NTREIS, real estate]

Finally Some Sunshine...

I don't have to tell you that the last 12 days of rain and Seattle-like weather can put a damper on things. Especially real estate, when trying to view homes.  Well, the sun poked its head out today along with a coyote roaming it's way around The Hills at Prestonwood. If you're playing a few rounds of golf tonight, beware. He was too quick and running scared to get a photo.  Anyway, it's nice to see the sun.
[where:75093, Plano, Hills at Prestonwood]

Plano Real Estate Overall Results - September 2009

So, how did Plano Real Estate do this past month? The answer is better. For the month of September sales were down 10%, Dallas was down 8%, at least going toward single digit results.  Price per sq ft. is $95. which is only down 1% from a year ago.  You should be glad you live in Plano.

Sold to list price is 97% which means properties that are priced correctly, that have come down in price are selling at this acceptable level. Days on market are 59 days, down 11% from last year. 

Pending sales are only down 4% and more properties are actually closing in less time. Normal escrows are back to a 30 day close, less or more depending on the lender. 

What Plano needs now is more inventory, new listings are at 314 which is down 10% from last year and active listings are 997, down 22% from last year, months inventory is at 4.3, which is low.

On a year to date note, the average price in Plano stands at $261,312, down 5% from last year and median price is $215,000 only down 4%.  I know this covers a broad area but it still gives you a sense of the local market which is what real estate is anyway.

The least expensive home that sold was 3536 Gatewood listed for $70,000 and in typical foreclosure fashion sold in 10 days.

The most expensive home that sold was 5536 Saint Andrews Court in Willow Bend Place. Originally listed for 1.5M and reduced to 1.1M sold for a non disclosed price, on market 131 days.

Of the 234 properties that sold in Plano last month 92% were under $400,000.  That tells you where the market is and still has much to do with the lenders and banks.  Stay tuned for a closer look into the West Plano Real Estate Market later this week.

[where:75093, Plano, Real Estate Update]

Storm Brewing

Looks like some more weather is coming our way, this photo was taken last week while showing town homes in the Shops at Legacy.  The moon makes an interesting addition.  The building is EDS -  now HP.

[where:75093, EDS, Plano, TX, Storms]

New Listing! 5908 Wight, Plano, TX 75093 - $519,000


This is a brand new listing! It is completely updated, newer home in Windhaven. Basic info is: 4, bdrm, 3.1 bath, 3435 SF, Plano ISD, built in 2000.  Check the slide show on the right side bar to see this incredible featured home.  If you've been looking at homes in West Plano, you know most need some updates...this luxury home is already done, even new freize carpet installed. Take a look at this awesome property: please see MLS 11281288 info here and click the photo above for the full blown tour.  Give us a shout if you're an interested party or know someone that is.  If you'd would like more information or a showing, just let us know.  Enjoy the weekend and the weather!

[where:75093, 5908 Wight, Plano, TX, For Sale]