Buyer's Need More

The biggest problem in real estate right now is not being able to find enough properties for sale.  Buyers are out shopping for homes but there just isn't enough to chose from.  So, multiple offer situations are common.  As you can see above the number of units are down 24.5% from last year.  New listings are down 19.8%.  Pending sales are up 16.8% and closed sales were up 35% from last year.  These numbers are solid for West Plano and a positive indicator.  Inventory is the largest factor holding back buyers now because more selection is needed to sustain sales.  Any seller's on the fence right now will probably find it a very good time to sell your home.

The Exceptional Crape Mrytle


What's so great about this tree besides being drop dead gorgeous?

It's basically low low maintenance and looks great in any season.

The hotter the weather the blooms are more robust.  It doesn't take much water.  When
the leaves fall the white bark is left to molt to a dark brown.  You might see some folks
cut the branches back or top them at the beginning of the year but you don't have to do that.
It comes in a nice variety of colors and their not expensive.  Great add for the landscape if
your looking for a pop of color.

How's the Market in West Plano?

In real estate the best way to learn about your neighborhood is to look at surrounding areas, like a 5 mile radius or look at the MLS sub areas of real estate data.  National and city news is loaded with information way too broad to even touch your local real estate market.  The only way to know it's in and outs is by being in the market buying and selling houses every single day!  Trends evolve, like now it's low inventory, buyers are struggling with financing conditions and some seller's are asking for pre approval letters before you can even submit an offer.  Yes, get pre approved and your offer will more than likely be accepted first.

The good news are buyers are out there taking advantage of great rates, sellers are more realistic in their pricing but are not going to put up with hiccups that delay a closing.
Sales are better but the market is still slowly going forward.

Take a look at the chart below, this data is for West Plano - MLS Area 20-1 and will give you a good look into your local real estate activity.  Results are against June of 2011.

• Median Sale Price      $472K  +6.4%
• Avg List Price              $591,155.  +8.6%        
  
• Avg Price Per Sq Ft   $137.    - 4.7%
• Days on Market           82     -6.5
• % Orig Price                94%  +14.28%
• Month Supply               6.9     -26.7%
• Homes for Sale           285    -21.5%
• New Listings                77      -19.8%
• Pending                        44      -8.3%
• Closed                          76      + 33.3%

Any questions, or to look at your neighborhood more closely let us know.  We're here to help!

Summertime in Plano....

Take a stroll around the lake at the Shops at Legacy and RELAX!
Watch turtles, birds or people -  get some ice cream, nosh and drinks on
Bishop or Lone Star, all you could want is in walking distance.  Park the
car in the covered garage and have a great weekend!

Plano 4th of July Events 2012

Looking for something to do on the 4th?  Here's some great family events to help with your celebrations!

• July 3    7 P.M. Patriotic Concert Plano Community Band - planoband.com
• July 4    9 A.M. Independence Day Parade - planoparade.com
• July 4    3 P.M. Patriotic Pops - Plano Symphony Orchestra - planosymphony.org
• July 4    9:30 P.M. Fireworks - Oak Point Park, 2801 Spring Creek Pkwy. planoparks.org
• Listen to the Music Simulcast on 97.5 KLAK
• Free parking at First United Methodist Church & Collin College

Planohomesandland.com  wishes you a fun and safe celebration wherever you may be. Enjoy the food and fun.  At least we got a break from 100 degree weather!  Happy 4th!

Real Estate Loan Alert!

I'll be the first to tell you that some lenders are in fact, charging fees to apply for a loan.

How Much?

$325. to $495. depending what market and bank lender.

Do you have to pay it up front?

Yes, if you want to do business with that bank.

Is it refundable?

No, the fee is for working on your loan application which most mortgage brokers will do for free.  They will do the same thing for nothing up front except hope they earn your business and close a loan through them.

I think the banks are tired of the ditch and run when consumers are in the hunt for the best deal and the banks are charging up front so you'll close the loan with them.

So don't be surprised if you come across an hefty application fee from a bank.  Just remember there are plenty of mortgage lenders out there that won't.  Just another nickel and dime tactic!  As always Buyer beware!