Plano Texas Real Estate Blog - Local Plano Real Estate.

Where does your listing stand with others?
How to Justify Your List Price...

Has your home been on the market for awhile? How does it compare to others? These are important questions to ask because technically you can find the right answer through MLS data.  The distribution of price is a step beyond a typical CMA (competitive market analysis).  We are now able to pull any public info as well as real hard data from the MLS.

The chart below is for West Plano zip codes 75093 & 75024.  Criteria is: 4 bedrooms, 3 plus baths, 3800 to 4800 sq ft in a target price range of 399K to 650K.  This is a drill down of the current market in the last 45 days.  What you see is competition is high, 72 homes for sale, 21 homes are currently under contract, so there is action and 10 have sold, 5 of those have been in the target price range - 50% chance of selling.....Do you want better odds than that?

Adjust your price to where the demand is 400K to 500K if you can. Also, the 500K to 600K is picking up steam, if you know the competition you have a better chance of selling!  Sure, it will always depend on condition and location.  Buyers right now want homes that are totally updated and priced well.  If your home needs updating especially kitchen & baths then you'll have to deduct for that.

Looking at your property in a detailed and analytical way will save you time and much less stress when you see where the buyers are. The real estate markets continue to be difficult to navigate and more accurate data on your side can help for a quicker sale.  This information can help you position yourself in a lower or higher listing price to attract buyers and better offers.

Longhorn Style....

Housing Supply

As the housing market continues to prod along there are signs of life at the $500K & up price ranges.  This information is from the MLS February sales data.  The upper end market has been most effected by tighter lending requirements based on a greater amount to lend.  Banks still tend to be weary of large loan packages.  A 15.1% increase in sales does look like that could be easing.  Resales are outpacing new homes sales because buyers are finding better values in prime locations.  The spring market is picking up steam and there is plenty of inventory to preview, so if you've being thinking about buying or starting the process timing couldn't be more perfect.  Rates could be rising so now would be a good time to buy in the DFW Market.

West Plano High Four

If you live in West Plano you'll truly enjoy this when it's finished! The easing of traffic flow from Dallas Tollway & 121. Yeah!

Just Listed!  Looking for a Totally Updated Home?
Take the Tour....

8609 Clear Sky - Plano - 75025 - Highly Desirable Villages of Russell Creek & Exemplary Schools 3 - 2 - 2 Study and Pool - Updated to Perfection! $259K
call 214.415.9829 for a private showing!

Friday Flowers
I think everyone is ready for a Spring Break whether you travel anywhere or not.  Enjoy!