Plano Texas Real Estate Blog - Local Plano Real Estate.

Missed the Tax Credit? There are other ways...

Even though the tax credit expires tomorrow, April 30th, there are still plenty of opportunities in the state of Texas for assistance.  TXHomePrograms.com is a website that gives you a way to search for assistance programs by city.  There is lending help and repair, rehab loans available to research.  Keep this link or pass it on, there are still ways to save money on your home purchase.  This site is sponsored by the Texas Association of Realtors and is for every city in Texas.
[75093,Plano,Texas, homebuying assistance programs]

Name Your Neighborhood...

As you know searching for a home online is a labor intensive task.  The information available to research is very time consuming but it can save you time from driving around aimlessly in your car even with GPS. Once you decide on an area the best way to target a search is by neighborhood and you can stop browsing listing after listing in neighborhoods you aren't going to like.

The search on this site has always had a subdivision search, as you can see above you can get very detailed and search up to 10 neighborhoods at a time.  You can then enter other property details: pricing, bedrooms, baths, 1 story, 2 story, golf course, etc. etc. etc.  And because this IDX search is from the MLS you get ALL the listings.  Of course, you can search other ways too, address, MLS #, zip, city, county, school district or condo- building....try it, it will same you time and sanity in locating the perfect home.  No registration here unless you want to save a search and that's up to you.

You have your choice of real estate search sites but unless the site is a Real Estate Broker or Realtor, you will not get ALL the listings.  I know when I search for clients I want access to everything and I know you do to.

[75093,Plano,Texas, neighborhood home search]

Spring Time in West Plano

It's Friday once again and we made it through another week, a little cloudy but we need the rain.  I try to show different neighborhoods and local photos of the area so you don't think we're just flat land in Plano and lots of trucks.  The truck part is true. Anyway, enjoy the photos and check the open house link to the right for a tour this weekend.




[75093,Plano,Texas, spring photos]

I like it when this set of real estate data comes out later in the month for the previous month,  it gives a more accurate picture of the market because more sales numbers have been entered into the MLS.  Shopping for a home is hard work and it's good to know what your chances are of finding a few homes you really like and can call home.  The months supply is an indicator of home inventory and if you'll have competing bids on a property. 

A good rule of thumb is a balanced market market is between 5 and 6 months supply.  As you can see from the Dallas Metro chart above, inventory is tight in the first time home buyer market except if your buying a town home there is plenty of inventory.  3.8 to 4.2 months supply means you might have to try several times to finally get a home under contract and that is normal, you just need to be persistence.  Even sales at the $200K to $299.9K range is getting risky at 4.9 months.  Once you hit over $300K the inventory is more normal at 7.1 months but that will depend specifically on the neighborhood and whether it's in higher demand.

One thing for sure, if your looking in the $500K and above range you can have your cake and eat it too.  15.1 months inventory and that's a lot of homes to look at and surely you'll find a few you like.  Ditto goes for town homes in this category - the inventory doubles.  Happy Hunting!  Now that we're getting in the true selling season watch for inventory to pick up in all price ranges.
[75093, Dallas, Texas, housing inventory, real estate]

5908 Wight, Plano TX 75093 - Windhaven
4/3.5/3 Pool - Totally Updated - $499K

This home is not on the MLS but is available for sale and a private showing.

Incredible Murphy Home in Prestigious Windhaven & Award Winning Schools in the Willow Bend Area. Gorgeous Drive Up with Brick & Stone Facade. Beautiful Custom Entry Door. Close to Legacy Corporations, Shopping & Dallas North Tollway.  Please see 5908 Property Website for additional information. 214.415.9829 - or info(at)planohomesandland.com.

Looking for a Town Home at The Shops at Legacy?

Would you like to live at the Shops at Legacy?  Well, there are a few opportunities that are not on the market if you are ready to go finance wise or a cash buyer.  Please call for more details if you're a serious buyer. 214.415.9829.

Another way to get the home buyer credit...
Let's see, taxes were due yesterday and the home buyer tax credit is another 15 days away before expiring.  You have until April 30th to be under contract and close by June 30th to receive the consumer bail out.

Don't feel bad if not going to be able to take advantage of the credit. You shouldn't buy a home just to get the refund. Only buy a home if you're ready and life's circumstances dictates it.  You will probably be able to take the tax credit off the price of the home and avoid all the messy paperwork anyway.  That way your loan will be less.  And you might be able to get closing costs thrown in as well.  So, just be glad it's still a buyer's market and more fabulous buys are out there.
[75093,Plano, TX, tax credit]

Looking for New? Austin Waters could be home...

Just west of Midway, past Arbor Hills Nature Preserve, Parker narrows to a two lane road.
As you cross the rail road tracks you've now entered into Carrollton and an upscale new community called Austin Ranch.  It's a small enclave of homes and town homes, the new urbanism if Plano and Carrollton can be called that.  It's peaceful and quite and sits in middle of the West Plano Hub.  It has a community park, trails and pools.  It also has the European concept of round abouts, so traffic in the development is slow, nice touch.  What are prices you ask? $289K for town homes (only a few remain) and $450K and up for luxury residences.  Award winning Lewisville schools too...below is an example of the architecture. Just a stones throw from West Plano.  If you want to live in Texas Hill Country, this is the closet you'll get to Austin by way of Dallas.  I've now added all Austin Waters listings to this site, take a peek....





[75010,Carrollton,TX,Austin Waters,Planohomesandland.com]

Spring Photos & Open Houses

You know I was thinking how pretty it's been and what a cold winter we've had.  No major spring storms yet...perhaps our winter was so cold we're going to bypass our usual volatile weather this time of year.  The photos are from The Shops at Legacy, just one of the many parks and scenic places to visit in Plano.  Here's to more spring weather and to nothing more severe.  This weekend is National Open House and it's on - right now - all over Dallas, this weekend will be the most open houses you'll ever see, take advantage of the opens and enjoy the fine weather, the turtles certainly are!


[75093,Plano,TX,Spring 2010]

Get a jump on your house hunting!

All across the country is national open house weekend this Saturday and Sunday. Just in time to take advantage of the tax credit if you qualify and get a jump on your house hunting previews...the portal link on the top right side bar has all open houses in Plano zip codes: 75093,75024 and 75025. 40 so far....and probably more...

[75093,Plano,TX, open houses]

Plano Real Estate Results for March 2010


This is just for the city of Plano and results are from the MLS.  All results are compared to last year, so a very fair analysis of the current market.  Stability shows in the graph, prices are holding and that's a good sign.


These are properties that are pending, waiting to close, up 8% from a year ago.


This chart shows the supply and demand, with is available inventory and buyer activity.
The more these two are in sync the better the market.  Usually inventories start to build this
time of year and after April 15th (taxes due) the spring market officially kicks off.  Looks to be no different this year.


Sales in Plano were up 1% from a year ago, so slowly but surely it improves.  Watch for this number to increase as all sales are not entered by months end and the MLS will adjust it figures daily as more sales are entered.  Lots of properties out there that are priced well
and lots of bargains too which is what most buyers want. Nice!
[75093,Plano, TX, real estate update]

Easter Peeps for some Good Friday Fun!

Peep Skates by ShellyS on Flickr

Easter Bonnet Peeps by ShellyS on Flickr

Short Sale Secrets....

It's no secret that banks and lenders are moving their short sale and foreclosure properties to an online system.  In fact, there are many different online bidding services for this.  Many of the distressed properties on the MLS will tell you how to bid and give a deadline.

This expedites the process for everyone but it's not in favor of the buyer.  Frankly, you'll probably be competing with other offers and have no idea what they are.  That's the way it is, the banks will chose the highest, best offer and most qualified buyer.

Another online system, called equator is suppose to make the short sale process less cumbersome by being completely paperless but you need to be technologically advanced to work the system.  We just finished a short sale in 37 days using this system, closed and funded.  Are their secrets to using the system? 

A few - but mostly having all your files accessible to online uploads and downloads.  The other challenge is besides the legal real estate contracts Realtors use, the REO-Lenders now have there own forms too, a little tricky but you now need to fill out bank forms and contracts for a sale to proceed through these online systems.  So, it is paperless but more electronic files to deal with and as you know that can be cumbersome.

All in all,  I would say the system is an improvement than having the bottomless paper files stacked on someones desk.  You just need to find a very qualified agent that can work the system or nothing will happen.

[75093,Plano,TX,short sales]