Plano Texas Real Estate Blog - Local Plano Real Estate.

LOCATION + CONDITION = PRICE


The 3 Most Important Words in Buying a Home

You know the saying - "the more you do something you become better at it" (hopefully) and that includes shopping and buying real estate.  The biggest mistake I see current home buyers make is "it's all about the house" or are more concerned about the upgrades or amenities in the home than the 3 crucial words that are success in real estate.  Location + Condition + Price.

Instead of concentrating on each individual home wherever it may be, first start with picking your ideal location, for example living close to work will save gas and the dreaded commute.  Those two items are on almost everyone's list.  Start at the beginning and see what's available, like newer or older homes and more importantly, what you are willing to do as far as updating or projects and compromise on.  Yes, there will always be compromise!

Schools are also important for resale even if you don't have kids.  It's a huge deal!  Another time saver for shopping real estate is use the mapping capabilities of the internet to weed out bad locations like busy streets, rail road tracks, power lines and water towers to name a few.  You can't trust property descriptions as being true, for example: Yesterday I saw an agent describe a property in a foreclosure neighborhood as being the best street in the development and this street faces the rail road tracks!  Lets' not even go there....waste of time.

Two other things that will help with your search is sit down and talk to someone who knows the area front and back, that could be an agent or co worker, family or friends.  Next is drive the neighborhoods and see if it fits your criteria.  These steps will help filter the house hunting process down in a more logical manner and one home ultimately will become yours to love.  Once you pick the location, the condition of the home will determine the price range and hopefully it will have all the updates and amenities you want. ;)  And that does happen, sometimes...

Just a little fun on Friday!
Bevo & his bike are located at the Shops at Legacy....

Plano Quarterly Real Estate 2008 till NOW...




I know most of you really don't think of the value of real estate unless you're in the market to buy or sell.  It's better that way, since value is really a moving target.  What's comforting about this is the value of Plano real estate is solid unless you were one of the crazy people that bought and sold real estate without a clue to value.  Even though volume is down the median sold price is something anyone can live with.  As far as For Sale pricing, even in a down market, sellers still think there property is worth more than it is...The one thing about buying real estate is you don't have to get the rock bottom price, if you understand value you will have an acceptable range for location, condition and price and reap the rewards in a timely fashion.  Just saying...have a great Sunday and GO Cowboys!

Shops at Legacy in West Plano

Collin County Real Estate is Good!

More accurate real estate data comes out toward the end of the month.  Here's a recap of Collin County residential real estate stats for July.  As you can see, sales for the county are up 14.4% and pricing is holding it's own.  What's happening now are new listings are very depressed which means low inventory.  If your home has been on the market for a while, say like over 60 days with no action - you are not priced right.  With less inventory on the market buyers will wait to find the perfect home.  If you've been holding out but thinking about selling now would be a good time to consider your options especially if you have a well maintained home.  Data is from the North Texas information Real Estate Systems and is deemed reliable but not guaranteed, and you know nothing is...have a great weekend!  As you can see real estate in Collin County is not bad as you might think it is.