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Plano Blog

Plano Blog
Being Resident and Realtor of West Plano, TX for 15 years, this is a bird's eye view of current Real Estate market conditions and analysis of a close in location of Dallas that has yet to explode.

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Friday's Foreclosures in Plano
2008-03-21 14:29:00
Foreclosures for 75025 Well it's Friday - and it's spring! Good Friday that is. This weeks foreclosure list is for 75025. A couple things about foreclosures in this market... watch for games being played, some homes are being drastically reduced in order to bid up the price with multiple offers. So know your pricing in a neighborhood. Also, with the blood bath this week, maybe lenders will decide they really need to sell homes instead of holding on to them to get the best price. Time for the real investors to come out and make your money going in. [where: 75025]
More About: Foreclosures , Plano

City of Plano First Time Buyer Assistant Program
2008-03-19 16:26:00
Are You A first Time Home Buyer ? Yesterday I was doing some demographic research for a client and came across this on the City of Plano site. And guess what? City of Plano has a first time buyer assistant program, you must qualify and if you do, you can receive up to $5,000! Yeah! You may use it for down payment or closing costs. Your financing can be VA,FHA or conventional. Of course, you have to purchase a home in Plano. This might help some folks get into a home by taking advantage of this service. The link has all the information to apply. Pass this along if you know someone that needs some help. This could be just the extra money needed to buy a home of your dreams. [where: 75093]
More About: Program , First Time

Market Stats for Plano, 75093 - 3/10-3/16
2008-03-18 19:51:00
Market Data for 75093 - last week Here's last weeks activity in 75093, since many of you are watching the market trying to decide what to do - or when to move. Take a look at the charts: Inventory is important to watch, total Plano inventory has come way down from last June, sits at around 1300 units. The orange line shows 75093 inventory which has also decreased from a year ago, give or take a little. The take away - inventory is not out-of-control in Plano, in fact it should be better for sellers. The chart above is from the MLS - it shows activity in 75093 for last week ending 3.16.08. Around 267 units for sale, 7 properties sold, 6 pending (waiting to close) and 17 properties had contract offers and are in inspection periods. In fact, Plano has some of the lowest inventory in the DFW metro area - 4.2 month supply. That's Positive News for Plano. Info deemed reliable but not guaranteed. [where: 75093]
More About: Market , Stats

A Short Sale Tale - This You Want to Read
2008-03-17 15:54:00
A Short Sale Story Are you interested in foreclosures and short sales? Right? Think you're going to make a steal? Well maybe... This is a true story that happened last week- a short sale that's listed in a great neighborhood in West Plano - 75025. A little background... A short sale is a pre foreclosure meaning the seller went to the bank and asked permission to sell the house for less than what is owed. Bank must approve this step. The home is priced at $213K in a neighborhood that's low side is $250K. Dollar per sq ft is $74, where a perfect home in this neighborhood could be $90 plus. Location is an interior large lot and home only needs carpet and paint as far as I can tell without an inspection. Can't beat the floor plan. The property is a winner! One thing about a short sale is you need to inquire about any past liens or property taxes due - sometimes these have not been paid and you have to add it on to your tab. So I make a phone call to th...
More About: Read , Tale

Open Houses for Sunday in 75093
2008-03-15 17:37:00
Open Houses for Sunday photo by SKWomack Here's this weeks Open Houses in Plano, zip code 75093. Link is a PDF file with basic info, photo and times the properties will be open. Subdivisions included are: Willow Bend Lakes Castlemere Greens of Gleneagles Fairways of Gleneagles Windhaven Willow Bend West Lakeside Preston lakes Creeks of Willow Bend There are some beautiful homes in this collection, go see for yourself if time permits. Have a great weekend and enjoy the weather. Spring has been a long time coming this year. As always, info is deemed reliable but not guaranteed and is from the MLS. And if you're heading down to Park Cities, here's a list of open houses on Sunday. [where: 75093]
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Friday's Foreclosures in Plano - 3-14
2008-03-14 18:14:00
Foreclosures for 75093 and 75024 Every Friday we post foreclosures for 75093 and 75024. A few new ones, one in Cypress Creek and Meadows on Gleneagles. Other sub divisions include Preston Meadows, Kings Ridge, Crystal Creek, Lakeside, Windhaven and Shoal Creek. Of course, these aren't all - but ones that have been posted in the MLS as such. All information is deemed reliable but not guaranteed. Link above is a customer brief report in a PDF file. A foreclosure tip is to already have your financing lined up with a pre qualification letter, or better yet - get pre approved. Banks and lenders will not even look at your offer without it and if you have cash, all the better. [where: 75024, 75093]
More About: Foreclosures , Plano

Why a Foreclosure goes on the MLS
2008-03-13 00:12:00
Foreclosure Tips The market is full of foreclosures and we're getting many questions about them and the process. To help explain, simply: A foreclosure starts at the court house steps and in Dallas it's the first Tuesday of every month. If it's not sold at auction, then the lender will hire a REO (Real Estate Owned) broker to list the property for sale on the MLS. Many out of state buyers have inquired about the process and this is what happens in Texas prior to being put on the MLS. Because of market conditions, many homes are in poor condition and priced too high. However this past weekend, we did find some perfect move in ready foreclosures. Lenders and banks do not know how to sell real estate so be prepared with some other options if your deal goes south. [where: 75093]
More About: Foreclosure

Plano Real Estate Update for February 2008
2008-03-11 18:36:00
Plano Real Estate Results Despite the market news of doom and gloom we still get up everyday and go about our lives and buying and selling real estate is one of them. Here are February numbers for Plano which are down but better than areas inside the loop, could be it's more affordable here and schools are excellent. Probably. Plano Breakdown Sales: ; &nbs p; &nb sp; 239 units down 12% from a year ago Avg Price: ; &nbs p; $247. down 6% &nb sp; " $ per sq ft: &n bsp; & nbsp; $93. & nbsp; down 6% Sale to List: ...
More About: Real Estate , Update , Plano

Good Way to Start a Monday!
2008-03-10 22:21:00
Sounds good to me... This photo is a new pastry shop that just recently opened at The Shops at Legacy. Handmade cakes, cupcakes and pure sugar pleasure. Custom, refined and very pretty, and yes, a pure sugar rush. It use to be the old southwest gallery space, guess people like to eat more than shop. Seems when a retail shop goes out - an eatery or entertainment venue goes in. Next to this sweet pastry shop is a chocolate factory (chocolate covered bananas) and a cold stone creamery, like the sign says: eat dessert first and it's easy to do here. Jaspers and NAAN are right across the street. The Shops is becoming a mini city into itself, looks like West Plano has our own downtown and it keeps getting better all the time. The link is "The Shops" new web site, it's flash so it's a little slow and glitzy. February stats are posted tomorrow and for Plano it's not that bad. [where: 75024]
More About: Start , Good , Monday

Open Houses for 75093 on Sunday 3.9.08
2008-03-08 15:19:00
OPEN HOUSE SCHEDULE Hot off the white board and the MLS is a list of Open Houses in 75093 for this Sunday . Subdivisions included are: Willow Bend Lakeside on Preston Preston Lakes Fairway of Gleneagles Windhaven Steeplechase Glenmeadows Stone Lake Estates Click link below for your tour...Happy Hunting! Open Houses in 75093 for Sunday 3.9.08 [where: 75093]

Friday's Foreclosures in Plano
2008-03-07 16:28:00
Foreclosures in 75093 and 75024 Just in time for the good weather that's here. Foreclosures do look better in the sun! This weeks list is for 75093 and 75024 A couple new ones and if you don't know... FHA Loan Limits Increased Yesterday Dallas and Collin County Limits are: One-Family & nbsp; $271,050 Two-Family & nbsp; $347,000 Three-Family ; $419,400 Four-Family $521,250 Remember on FHA...... 3% Down Payment Seller contribution up to 6% This could provide some good incentives to buy, make sure you ask your broker about the program. [where: 75093]
More About: Foreclosures , Plano

Yesterday was a Nicer Day
2008-03-06 21:03:00
Shops at Legacy - 4:30 PM yesterday This was yesterday late afternoon at the Shops at Legacy. Taking a blissful stroll down Bishop, all outdoor cafes were set up to dine away. It was a perfect 74º, no wind and very sunny. Flash forward to right now, it's sleet, rain, snow and a bone chilling 32º. That's North Texas weather for ya, hopefully we'll be back to normal next day or two. Be safe coming home, we don't do well in this kind of stuff. [where: 75024]
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Median Inventory Plano vs Dallas - Current Results
2008-03-05 21:34:00
Inventory of Plano Homes Take a look at the inventory situation from last Sept. Levels have fallen to under 1500 units in Plano. Dallas hovers right around 5250 units. Despite market conditions inventories are lower than normal. Watch for inventories to pick up after taxes are due. [where: 75093]
More About: Results , Current , Inventory

Plano Snow
2008-03-04 17:18:00
Does it Snow in Plano ? Every once in a while it does snow in Plano. Last night the forecast was for an Arctic Blast. This is all we got, the streets were way to warm for anything to stick, now it's sunny, cold and 38 degrees - BURRRR! And Yes, we did have school closings, but they opened at 10:00 AM.

Open Houses for Sunday in 75093 -3.2.08
2008-02-29 23:25:00
OPEN HOUSE SCHEDULE Here's this weeks open house list for 75093. This is a MLS list of open houses entered by agents. A photo, basic information and times are included in this PDF file. If you'd like to see other zip codes let me know. These homes are open for this Sunday , 3.2.08. If your tired of winter and ready for Spring- this is an easy way to start your hunt. Like Foreclosures? post below has link for zip codes 75023 and 75075, current on the MLS.
More About: Houses , Open

Foreclosures this Week in Plano
2008-02-29 16:45:00
75075 and 75023 Foreclosures Every week we post foreclosures in different Plano zip codes, This week it's 75075 and 75023. This is basic information if you're considering purchasing a foreclosure. Every REO (real estate owned) property has different conditions to buy and it's a difficult process, but if successful you can make a very good investment. You can drive by these properties and see if the location fits your criteria. Foreclosures in Plano zip codes 75075 and 75023
More About: Week

Another Place to Meet at The Shops at Legacy
2008-02-27 22:21:00
Cafe Bakery at The Shops Right at the end of February is when Texans can't stand winter any more. Even if it's not too harsh! Spoiled by warmer weather most of the time. The shot above is Cafe Bakery's outdoor sidewalk cafe. Can't wait! It's also an excellent place to meet and start your real estate search. Over a bite to eat and a great way to see the neighborhood. Of course, there's a Starbucks too in case you need a wireless connection. Will post foreclosures and open houses available for your weekend hunt next couple of days, so check back.
More About: Meet , Place , Legacy

Short Sale or Foreclosure - Which One to Buy?
2008-02-26 22:53:00
What's the better deal? Foreclosure or Short Sale ? There certainly isn't a shortage of short sales or foreclosures (no pun intended). But when it gets down to crunching the numbers which one is the best buy? Automatically, you think that you're going to get the buy of the decade. Nothing could be farther from the truth. In this market, I've seen foreclosures and short sales priced as if they're perfect properties and most are far from it. The main difference is a short sale is a pre foreclosure, so property taxes and liens on the title could exist and the bank or lender most certainly will get you to pay. So unless the property is priced correctly for the condition and circumstance, an extra 2%+ is going to add to the bottom line. Shout out of the day! Sometimes it might be better to wait for the property to go into foreclosure. Depends on the situation. And patience can be a virtue, for those who wait.

Local Market Update for Plano
2008-02-25 21:33:00
How's the Market ? Well, basically it's a buyer's market. Shopping for houses is fun. No rush, take your time. That's how it is right now but things can change quickly. The only way to know is by keeping up with weekly trends to see where real estate is headed. Take a look at the charts below on inventory and days on market for zip codes, 75093,75024 and 75025. This shows you how inventory has decreased in these zip codes since last April. Typically, the low point was January and now each zip code is showing signs of life. 75093 (black line) is showing the most upward trend. Watch for inventories to increase with spring upon us. There are a lot of not so great properties out there, meaning some if not all need lots of work. The A+ homes will go first. Average days on market has decreased since Dec. All zip codes are leveling out. 75093 and 75024 right around 100 days and 75025 is 80 days. Looks like it will b...
More About: Local , Update , Plano

Open Houses on Sunday for 75093
2008-02-23 05:54:00
OPEN HOUSES Ready to start your house hunt? Or know someone that is? Well, here's a head start before you jump in the car and start driving around like a maniac. Maybe save some gas. This open house list is provided weekly to help get a feel for the neighborhoods and preview homes of interest and really just to help get the word out about available Plano real estate in zip code 75093. The list is from the MLS for this Sunday , 2.24.08. I think the weather is suppose to cooperate. Happy Hunting! Here's an open house PDF file for Sunday in 75093
More About: Houses , Open

Foreclosures for 75093,75024 and 75025 - 2.21.08
2008-02-21 14:55:00
Foreclosure Finds As promised, you'll find updated foreclosures each week here. There are some new ones that have only been on the market for a couple of days. The link is from the MLS and is a customer brief report with photo, basic info, etc. There are a couple in Lakeside that could be interesting. As always, info is deemed reliable but not guaranteed. Fresh Foreclosure Finds in 75093,75024 and 75025 for 2.21.08
More About: Foreclosures

Good to Know
2008-02-20 18:44:00
Plano Market Update I know many of you are following the market and really want to know what's going on in your communities. The national real estate news is not local, so here's some Plano current data for days on market and list to sale price from the Collin County Association of Realtors. Below are a couple visual charts to show the pulse of the market. If you're thinking about buying real estate now - this information is good to know. Down 2.2% from January last year. Sellers are making more concessions on price than a year ago. Days on market is 19.5% longer than a year ago. I think that says enough. There are other factors to consider, but this is a snap shot of current market conditions in Plano. If you'd like more info, you can see real estate indicators on the right sidebar, it's a one page graphic of different cities updated monthly.
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Tips on How Much to Offer and Chasing the Market Down
2008-02-19 20:00:00
What to Offer or Not Most of the time when you start looking for a home, you search by price range and neighborhood. And when you find the right home your first question is "What's it worth?" You probably already have an idea of what you want to offer? Right?..But how accurate is it? When I'm out with a client and you get that warm and fuzzy feeling, you want to know what to offer. I don't answer right away until some analysis has been done. Like a 6 month review of a neighborhood. In Dallas, home prices have fallen in general and prices are lower across the board. Location and neighborhoods do make a difference. You need to break down by area, location, maybe even street, sq ft bedrooms, baths and amenities. If you are looking at condos you need to just look at the specific building to determine value. You will also want to investigate the tax records and speak to the listing agent to find out what you can about the property and sel...
More About: Market , Tips

Open Houses on Sunday 2.17.08 in 75093
2008-02-16 01:00:00
OPEN HOUSES If you're in the market for a new home, trading up or just starting your house hunt, open houses are the best way to see what a neighborhood and homes look like. These downloads are PDF files for viewing or printing. You can see a photo of the property, general info plus times and directions. This is a weekly blog feature so you can always find the new open houses every weekend in Plano, 75093. These reports are from the MLS and all information is deemed reliable but not guaranteed. Have a great weekend! Open Houses for 75093 on 2.17.08
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