Plano Texas Real Estate Blog - Local Plano Real Estate.

Plano TX Real Estate Results - July 2011

I say time and time again, real estate is local. So, here's a recap of Plano's resale activity for July and year to date.  Nothing compared to the national stories.  Real estate value goes to the area, neighborhood and even the street and buyers determine it.  As you can see above listings under contract +18.1% that sales will be positive going forward.  Still a difficult market due to lending but people still buy and sell homes.

Market Overview for July 2011

This is the MLS sales for the entire North Texas Region.  It will give you an overview of what the trend is in this market.  You can't follow the national news because real estate is local and to get even a better clue you need to drill down to each area, zip code and neighborhood. Run those reports and you will have a educated decision about what a home will sell for.  The chart below shows positive trends for this region. Sales up, pending sales in double digits and supply down.  One thing to keep in mind is credit is still tight and out of every 4 homes under contract, 1 will fall out.  So, keep that in mind whether buying or selling.  Real Estate is looking better in North Texas and that's a good thing!

Time to Re-Fi?

Wow, rates are down, way low, so you ask yourself is it time to refinance?  It's all complicated but a good, simple rule of thumb is if you can lower your rate by 1% or more, go for it.  You should be able to get low or no closing costs due to the current economic climate.  This past week just made home buying and refinancing very affordable.  Take a look at the Texas rates on the lower right side bar. Wow!  It also depends on your personal situation 100% to what you do financially and doesn't cost anything to find out.  As always, buyer beware.

Plano Water Zone Map Starts August 19th

Here's the watering schedule for Plano starting August 19th.  Right now we're in stage one which is conservation on our part.  Did you know watering your lawn is prohibited between 10 AM & 6 PM.?  I see sprinklers going off all day, really just common sense.

Normandy Estates Foreclosure

If your familiar with Normandy Estates in West Plano, you'll know that it's a high end development.  It's had a slow go due to the economy but the development is prestigious and beautiful with it's rolling terrain.  This foreclosure just popped up not long ago.  This was the first home to be built in Normandy Estates and now is a luxury foreclosure.  It backs up to the Frito Lay property on a gorgeous treed creek lot. The home is beautiful and built to fit the lot!  The price? I thought you'd never ask! $1,525,000.  It's been on the market 15 days.  It's not foreclosure pricing but it's a great home and lot in West Plano.  What do you think you could buy it for?