Plano Texas Real Estate Blog - Local Plano Real Estate.

Collin County Market Conditions August 2012

Instead of giving you information you can find all over the internet or papers that's just the same rehashed content here's a chart that can actually help home buyers and sellers as market conditions change quite frequently.

Below is an excellent chart from Fidelity Title.  What it gives you is knowledge of the current market to navigate your home buying or selling strategy.  Although sales and prices are up which is a positive sign fail rates of 20% to 30% are quite alarming.

What does that mean?  Not all contracts are closing and contract derailment is happening in Collin & Dallas Counties.  What can a buyer do?  Get pre approved from a lender and your offer will carry more weight in this low inventory market.

It's not just, OH, let's go find a home to buy. I wish it was but the inventory drought has changed the landscape considerably.  It's going to take patient and knowing up front that you might have to try a few times before you actually get under contract.  Need help finding a home?  Call or text me.

What You Need to Know About The 3.8% Tax for 2013

Have you heard about the 3.8% real estate and other investments tax that was tacked on to the healthcare reform bill at the last minute?  If not you can get a fast update from the National Association of Realtors link below.

Quick take: It begins in 2013 which means it'll be 2014 till you have to file your return.  The most important thing to know is if your income is less than $200,000 for single or $250,000 for married couples you don't have to concern yourself with it. 

The tax is about real estate and other investments when you go to sell it, not buy it.
To find out the truth about the bill read this link that will explain the top 10 things you need to know about the 3.8% tax.  Pass it on if you want.  I bet there will be some high end real estate changing hand before years end because of it.

 Collin County Real Estate Update - July 2012

Most real estate data is posted in past tense.  What's good about the MLS is that you can pull up direct results whenever you access reports.  You get current accurate data as a result.

Below is a chart pulled this morning that shows a sales increase of 16% on Collin County home sales year to year from last July.  This will obviously increase as more data is released on the 8th and mid month from other organizations.

Positive News? Yes, buyers are in the market because the rates are sooo low.  There are still issues with the lending community, appraisals and banks in general.

The market has now officially turned into a sellers market because inventory is very low. As as result multiple offers are common and it's taking longer for buyers to find what they want.  Sales would actually be stronger if the inventory was improved.

Leasing is still strong and not all offers stick meaning some homes will come back on the market after gone under contract for various reasons.  The first time home buyer market is exceptional, that's where most of the real estate activity is.

I post a lot of different real estate information on this site.  If you're looking for sales in other areas or your neighborhood just give us a shout.

 

Painted Desert


This is out in Georgia O'keeffe country, something gorgeous around every corner.