Was the Real Estate data in Collin County, TX SCARY for the month of October?
Read below for how McKinney, Allen, Frisco and Plano real estate markets did in October 2009.
Allen: 1001 sales (-12% from prior yr); Avg sales price $235,714 (-4% from prior yr); Avg Days on Market: 75 (-7% from prior yr)
Frisco: 2412 sales (-2% from prior yr); Avg sales price $276,320 (-7% from prior yr); Avg Days on Market: 78 (-13% from prior yr)
McKinney: 1634 sales (-7% from prior yr); Avg sales price $218,582 (-2% from prior yr); Avg Days on Market: 79 (0% from prior yr)
Plano: 2495 sales (-20% from prior yr); Avg sales price $259,191 (-6% from prior yr); Avg Days on Market: 63 (-7% from prior yr)
SUMMARY:
The number of sales are down across the board for each city - down from 2% in Frisco to 20% in Plano! Reviewing data over the last few months shows a trend similar to what we've seen here with Frisco having the lowest decrease and Plano consistently showing the highest decrese. It's also interesting to note that none of the cities showed an increase in the average sales prices.
MY TAKE ON THINGS:
I'm gonna go out on a limb here, and while I'm no expert economist, I think I have an eplanation to this data. Follow me...
With the introduction of the tax credit for first time home buyers, there has been an increase in sales in the entry-level home market - sales $100K - $175K. When this happens, it brings down the average sales price for each city. It then also makes sense that buyers would choose a more affordable city, offering newer homes that appeal to young first timers, to make their purchase.
Plano has an "older" average age for their inventory, with more of their homes requiring updating to bring it up to the standards of the newer homes available in Frisco and McKinney. Thus, Plano has experienced the highest percentage in sales decline.
What does this mean for home sellers?
It's CRUCIAL to price your home accordingly!! The first 2 weeks on the market are the most crucial. With fewer sales on the books, your home needs to be the cream of the crop!
You also need to have a REALTOR with an agressive marketing campaign and dominant internet presence. Gone are the days of throwing a sign in the yard and placing on the MLS hoping it sells. When interviewing agents be sure to ask about this! Also ask how the new Appraisal law (HVCC) and neighborhood foreclosures or short sales will impact how you price your home. It could also affect whether or not you close the sale of your home ON TIME.
WRAP-UP
With all of this being said, DFW is still doing GREAT when compared to the rest of the nation! If you want more information about the Dallas or McKinney Real Estate market, go to www.TexasRealEstate.com. Each market is different - contact a REALTOR for information about YOUR area!
As always, remember, sellers have control of only TWO things:
Price! Don't overprice - enough said.
Condition! Consult a home stager...it's necessary.
Do you need a Collin County Realtorwith an agressive international marketing strategy to get your home SOLD? Contact the Barron-Daugherty Team at d + b real estate today. 972-838-5394.
It's a month filled with Thanksgiving. At this very minute I'm filled with thanks for many things: my health, my family, my country and my faith.
However, today it's my particular profession that I'm thankful for. And for one very specific reason that doesn't have anything to do with buying or selling a house:
This is my 8 year old, Mason.
You may (or may not have) noticed that I've been somewhat MIA on Active Rain for a while.
In mid-October Mason became very ill for almost a week before doctors finally realized his appendix had ruptured. The entire week he was ill, prior to being hospitalized, I was able to stay at home with him and attend to his every need. I didn't need to call in to HR to let them know I wouldn't be coming in to work. I didn't need to risk losing a job because I couldn't make it in to the office. I stayed with him. Moms, you know how important this is.
After doctors realized what had happened and he was admitted to the hospital, I was able to stay with him again.
I am so thankful for this simple fact.
Our jobs, as Realtors, allows us flexibility. Actually, any business owner or self-employed person has this luxury. But I'm doubly blessed because I have a partner that could handle this business while I was unavailable.
I'm so thankful that I made the plunge into the scary, challenging world of owning your own business.
I'm so thankful that I'm not married to Corporate America and all of it's rules and restrictions.
While being a business owner is not void of risk, it is certainly worth the rewards.
A fellow Realtor on the East Coast in Massachusettes very clearly outlines the new changes regarding the highly anticipated Home Buyer Tax Credit! This change will help out so many home buyers and sellers...I'm giddy!
Read on...
For help buying or selling in the McKinney, TX or Collin County area give me a call!
The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.
First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.
Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.
The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.
The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.
The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.
Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."
But, is this really true? When April 2011 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?
WHAT: A Career in Real Estate? Join us for a Q&A Ladies Night!
WHEN: Monday, November 30 2009 @ 7:00
WHERE: d + b real estate, located on the beautiful historic square in downtown McKinney
207 E. Virginia Pkwy, Suite 203 - located above the Lavendar Tea House
If you've EVER contemplated what a career in real estate might be like, then now is your time to get your questions answered!
Laura & Kim, d + b real estate's owners, will be leading a casual informational meeting about the process of getting your real estate license, the fees and costs involved and all of the in's and out's of a career as a Realtor.
Enjoy some light snacks and perhaps a glass of wine as we provide a comfortable setting in which you can get all of your questions answered.
You MUST RSVP by November 29. Feel free to bring a guest!
Email: Kim@RealFamilyRealEstate.com or call 972-838-5394
Spacious 3 bedroom plus study home located on a generous cul de sac lot just minutes from EVERYTHING:
Tollway, 121 and 75
Children's Medical Center in Plano, Plano Presbyterian & Medical Center of Plano
Stonebriar Mall, Shops at Legacy, Willow Bend Mall
Award winning Elementary School
Major employment centers: EDS, JC Penney HQ, Frito Lay
Immediate move-in available. Pets approved on a case by case basis. Preferred 12-month lease, but may entertain shorter terms. Call today for a showing of this ideal Plano rental home!
Real Estate in Collin County, TX is beginning to look beautiful as the leaves on the trees begin to start turning colors. For those of you that have lived here any length of time, you know that this doesn't last long. Our area usually goes from green to dead and lying on the ground in no time flat. This time of year also begins the tapering off in real estate activity for the year.
Read below for how McKinney, Allen, Frisco and Plano real estate markets did in September 2009.
Allen: 866 sales (-18% from prior yr); Avg sales price $238,657 (-3% from prior yr); Avg Days on Market: 74 (-9% from prior yr)
Frisco: 2169 sales (-4% from prior yr); Avg sales price $276,713 (-7% from prior yr); Avg Days on Market: 79 (-11% from prior yr)
McKinney: 1430 sales (-11% from prior yr); Avg sales price $220,550 (-1% from prior yr); Avg Days on Market: 80 (0% from prior yr)
Plano: 2239 sales (-22% from prior yr); Avg sales price $261,312(-5% from prior yr); Avg Days on Market: 63 (-7% from prior yr)
The number of sales are down across the board for each city - down from 4% in Frisco to 22% in Plano! None of the cities showed an increase in the average sales price, and almost each city showed the days on market decreased.
What does this mean for home sellers?It's CRUCIAL to price your home accordingly!! The first 2 weeks on the market are the most crucial. With fewer sales on the books, your home needs to be the cream of the crop!
You also need to have a REALTOR with an agressive marketing campaign and dominant internet presence. Gone are the days of throwing a sign in the yard and placing on the MLS hoping it sells. When interviewing agents be sure to ask about this! Also ask how the new Appraisal law (HVCC) and neighborhood foreclosures or short sales will impact how you price your home. It could also affect whether or not you close the sale of your home ON TIME.
With all of this being said, DFW is still doing GREAT when compared to the rest of the nation! If you want more information about the Dallas or McKinney Real Estate market, go to www.TexasRealEstate.com. Each market is different - contact a REALTOR for information about YOUR area!
As always, remember, sellers have control of only TWO things:
Price! Don't overprice - enough said.
Condition! Consult a home stager...it's necessary.
Do you need a Collin County Realtorwith an agressive international marketing strategy to get your home SOLD? Contact the Barron-Daugherty Team at d + b real estate today. 972-838-5394.
Incredible deal in North Bethany Lakes in Allen, TX. This 4,000 square foot home with salt water pool offers SO MUCH living space! For $225,000 you just can't beat it!
Amazing 4000+ sq ft Allen, TX Home with Pool/Spa UNDER $250K!
Price: 225000
Beds: 4
Baths: 3.5
Sqft: 4022
Year Built: 2001
Property Address: 1707 Lake Tawakoni Dr. Allen, TX 75002
If you have been looking for a home in sought-after Allen, TX with 4,000+ square feet of living space AND a pool/spa for UNDER $300K, then you can stop your search NOW! This 4 bedroom, 3.5 bath home has so much to offer! North Bethany Lake Estates is located in Allen ISD - minutes from 75, shopping, dining and schools - this location can�t be beat.
A Texas-sized family room is located at the front of the home and offers a brick fireplace. The spacious kitchen and breakfast nook offer a breakfast bar open to the grand foyer, island and cabinets with custom pull-out drawers to maximize storage. Upstairs you�ll find the master retreat equipped with a see-thru fireplace. You�ll be finding excuses to relax in the garden tub next to a roaring fire! Bring all your games, a pool table or LOTS of toys and have fun in the gameroom! A Jack-n-Jill bath connects two bedrooms, a third bedroom makes a great guest retreat and a home office complete the 2nd floor.
Inside the home you are greeted by a dramatic staircase and many architectural details that make this home stand out, including: art niches, soaring two-story foyer with arches, rounded drywall corners, plant ledges, tray ceilings in formals & master and moldings. The formal living and dining rooms make entertaining a breeze! New lighting fixtures have been installed throughout the home for an elegant feel. Car enthusiasts will LOVE the garage with tiled floor!
Utility room has space for extra fridge/freezer
Energy-efficient Solar Screens
Upgraded carpet, ceramic tile entry and kitchen, wood floor at staircase landing
"Where should we live? McKinney or Frisco? Frisco or Allen? Allen or Plano? Plano or McKinney? How do we decide?"...
The above question scenario has been asked by more than one relocating buyer, to his or her spouse, in the midst of planning a move to the North Dallas area. It usually occurs after touring homes in these four popular cities in Collin County, TX, and it can be really hard to decide.
The cities of McKinney, Allen, Frisco and Plano are all conveniently located north of Dallas in growing Collin County. For the sake of this comparison, I feel that all four cities have similar housing options, great schools, family-friendly attractions and similar home prices. For that reason, I won't go into those details as much as other unique factors that are specific to each city.
So how do you break it down?
After spending the last 5 years working with relocating buyers to Collin County, I've learned a few things about what draws some buyers to one city, while others choose for a different location. Perhaps this analysis will help YOU in your decision as well...
McKinney, TX!
Rolling topography & beautifully landscaped neighborhoods. Crape Myrtle Trails, too!
2 of the largest Master-Planned communities in North Texas - Stonebridge Ranch and Craig Ranch.
Innovative retail & residential community unlike any other area in Texas - the neighborhood in Stonebridge Ranch modeled after a city in Croatia - Adriatica!
One of THE BEST thriving historic downtown squares in Texas!
Compared with all 4 cities, McKinney has the lowest average sales price.
Plano, TX!
Home to numerous employment centers and headquarters...work and live in the same city!
Older neighborhoods mixed with brand new areas.
Closest to Dallas (furthest South) - just head south on 75 or the Dallas Tollway.
Near build-out, which could mean Plano experiences price appreciation faster than surrounding cities to the North.
Plano historically has the lowest days on market out of all 4 cities and the highest average sales price.
Frisco, TX!
Home to 3 professional sports teams - Frisco Rough Riders, FC Dallas Soccer & Dallas Stars Official Practice Facility. Don't forget about the worldclass Velodrome - the Superdrome. One of only 27 in the COUNTRY!
Commuting is easy - convenient to Hwy 121, Tollway and Hwy 380.
Still plenty of NEW homes to choose from if you'd rather build than buy a re-sale. Actually, "new" is a great word to use for Frisco - new homes, new retail, new dining...guess that explains why Frisco has been one of the fastest growing cities in the country!
Allen, TX!
People love Allen for the great School Spirit! Home of the 2008 Texas State Football Champs! (And in Texas THAT is a big thing!)
NEW retail centers and shopping galore! Fairview Farms opened in 2009. The Allen Premium Outlets draw lots of shoppers as well.
Some of the mosts fun outdoor parks in the area! Celebration Park will be a favorite for the kids!
Don't forget about draws like the Allen Community Ice Rink and year round swimming in the Allen Natatorium.
Now, I KNOW I'm probably leaving out some GREAT features of each city. If you're a resident, and I've overlooked something, let me know and I'll add it to the lists. What's the reason YOU chose to live in these great cities??
Note: This 7 part blog series is directed towards all those stay-at-home moms out there who always thought a career in real estate would have to wait until the kids were grown, and to the women Realtors out there struggling with finding the balance between their "ideal of success" versus what truly makes you happy. It's not a business model for everyone, but is something that has been on my heart to share for some time now. Take from it what you will, and know that everyone's journey in life and in real estate isn't and shouldn't be the same for it to be a SUCCESS...
Free and Inexpensive ways of Marketing Your Business – with an emphasis on Blogging & Social Networking
Setting Yourself Up for Success in the Future – When the kids are older, and when your friends just start to think about a career in real estate...you're already on your way!
Part 7 - Paving the Way for Future Success in Real Estate
Our economy isn't in the best shape right now. I'm pretty sure that everyone reading this knows of at least 3 people that have either lost a job, been turned down for a home loan or had to deal with a Foreclosure or Short Sale personally.
You see, when you go to work for "Corporate America" there are certain risks involved. One of them being layoffs. Downsizing. Pay cuts. You rely on others for your financial benefit.
Now that's not to say that being a business owner is void of risk. Hardly. However...there is one important variable. The boss = YOU! When hard times come it just means working harder. Smarter. Different. Only YOU can fire yourself.
Being a self-employed, independent contractor (Realtor) means that YOU area a business owner. Only YOU decide how to spend your day. Where you spend your marketing dollars. What hours you will make yourself available for work. If you don't want to dress up that day and would rather work at home on the laptop in your PJ's, MORE POWER TO YOU! Of course there are reprecussions for taking your business TOO casually...but like I said...if you do things that would get you fired from other jobs, you just might find yourself firing YOURSELF!
So how does all this philosophy apply to beginning a career in real estate at a traditionally younger age?
1. Many business owners BEGIN their careers after college working for "Corporate America". It isn't until they are unsatisfied working hard for someone else, making someone else richer when they decide to leave and go out on their own.
There are many good reasons for this. Two of the biggest reasons are the knowlege that is gained through working for someone else, and perhaps saving money for the future business venture.
Starting a career in real estate however, has lower barriers to entry.
Obtaining a real estate license can be done relatively easy (as discussed in part 3) and in a relatively quick manner.
The financial startup is MINIMAL when compared to opening your own clothing store, restaurant or other franchise.
**If real estate is something that interests you, then take the leap of faith NOW! If you can make it NOW, in a "down market", then you will be SET when the market picks up. And it will. History tells us so.**
2. But, I have a young family. How can I do real estate AND enjoy spending time raising my kids?
Ummmm...if you have this question go back and read posts 1-6. Seriously.
It can be done. EASILY! You just have to have the right expectations about your business from the beginning!
Real Life Case Study:
Let's say that in your first 5 years in the business you & your partner set a goal to conservatively close 8 - 10 transactions per year. Easily doable goal for balancing work with your partner AND being at home.
Let's say the average sales price in your area = $200,000. Let's assume a 6% commission, with you splitting this commission with the cooperating agent, thus making 3% ($3,000) per deal.
8 deals x $3,000 = $24,000 or 10 deals at $30,000.
(Note: How you and your partner split deals is a personal matter, but needs to be factored in).
So $24,000 - $30,000 per year isn't bad.
In addition to making good money for your family in a job that you can not be fired from, guess what else is going on during these 5 years?
You are making lots of connections.
You are closing deals, turning customers into raving clients that will be added to your database.
Your family is growing and kids begin attending school. Your kids friends' parents go into your database.
Your school age kids will begin activities: sports, church groups, play groups. Guess what? These names are added to your growing database.
Can you see how momentum will pick up?
All of these connections will know that YOU are in real estate. They will relate to you because you are in the same stage of life that they are in. You slowly gain credibility. You continue taking educational courses. Earning designations. Creating a niche. Farming your community.
These steps pave the way for a very prosperous future. When the kids are gone, and you find more time on your hands, you can crank up the heat and begin adjusting your goals upward. Now, you're closing 30-40 transactions per year. You might even build your own team of buyer's agents. The future is YOURS!
And guess what? Your friends who are also finding themselves empty-nesters will begin pondering a career in real estate...
School has started again for McKinney and surrounding North Texas cities. This time of year typically begins the tapering off in real estate activity for the year.
Read below for how McKinney, Allen, Frisco and Plano real estate markets did for August 2009.
Allen: 757 sales (-19% from prior yr); Avg sales price $236,133 (-5% from prior yr); Avg Days on Market: 75 (-7% from prior yr)
Frisco: 1928 sales (-6% from prior yr); Avg sales price $278,464 (-7% from prior yr); Avg Days on Market: 81 (-9% from prior yr)
McKinney: 1259 sales (-13% from prior yr); Avg sales price $220,845 (-2% from prior yr); Avg Days on Market: 79 (-1% from prior yr)
Plano: 1977 sales (-24% from prior yr); Avg sales price $261,227(-5% from prior yr); Avg Days on Market: 64 (-6% from prior yr)
Like the previous summer months, what strikes me the most are the number of sales that are down across the board for each city - down from 6% in Frisco to 24% in Plano! None of the cities showed an increase in the average sales price, and the days on market all showed decreases.
What does this mean for home sellers?It's CRUCIAL to price your home accordingly!! The first 2 weeks on the market are the most crucial. With fewer sales on the books, your home needs to be the cream of the crop!
You also need to have a REALTOR with an agressive marketing campaign and dominant internet presence. Gone are the days of throwing a sign in the yard and placing on the MLS hoping it sells. When interviewing agents be sure to ask about this! Also ask how the new Appraisal law (HVCC) and neighborhood foreclosures or short sales will impact how you price your home. It could also affect whether or not you close the sale of your home ON TIME.
If I may, I'd also like to address my fellow REALTOR's reading this market update(if you are not an agent, feel free to skip this paragraph). When you read that sales are down about a quarter from where they were last year, what does this mean to you? It tells me there are agents FIGHTING to get the same number of deals sold as last year. It tells me that some may even throw in the towel if they are not able to keep up the same production over last year. You don't have to give up! I'd be happy to help you find a way to keep more of your money, while staying in this industry as we go through the tough times. There are options out there that don't involve quitting a career you may love.
With all of this being said, DFW is still doing GREAT when compared to the rest of the nation! If you want more information about the Dallas or McKinney Real Estate market, go to www.TexasRealEstate.com. Each market is different - contact a REALTOR for information about YOUR area!
As always, remember, sellers have control of only TWO things:
Price! Don't overprice - enough said.
Condition! Consult a home stager...it's necessary.
Do you need a Collin County Realtorwith an agressive international marketing strategy to get your home SOLD? Contact the Barron-Daugherty Team at d + b real estate today. 972-838-5394.
McKinney, Texas and the surrounding cities make up my "stomping ground". I live here, work here and play here. My blog will feature real estate information & market activity specific to this area. Whether you are a local buyer, seller, resident or fellow Realtor I hope that this blog will provide insight into what makes McKinney and Collin County so unique! By TwitterButtons.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature. 
Real Life Case Study:
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