Plano Texas Real Estate Blog
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What does the term "Motivated Seller" mean?

If you're house hunting you might have run across the phrase "Motivated Seller" in the property description.  So, how motivated? Well, you just don't know.  It can have a lot of different meanings but the most important is to get your attention.  And it probably did.

What it can mean are several different scenarios, most likely:

• price
• seller moving scenario - job loss
  
• job relocation
• family event  - baby
  
• owns other properties or cannot afford any more
  
• unfortunate circumstances - death
  

If you're interested in a property that the seller is motivated, it's best to inquire about the motivation than to assume.  Because the seller's motivation might not be motivating for you at all!  If a property is still priced too high then the seller probably really isn't motivated at all, so don't waste your time with a low ball offer.
[75093,Plano,Texas,motivated seller]

 Laser Cat doesn't like holding temperature at 78 when it's 107 outside!

[75093,Plano,TX,summer heat]

Where is the Best Appreciation in Plano?

Straight from "Ask the Broker" files...great question! Lets go back and look from where we came.  I think we're at or near bottom of the real estate market, What do you think?

Take a look at the charts below: These go back by quarter from 2007, so it's a great guideline for price movement year to year.  This is for single family residential homes.
I think you'll agree Plano is holding well.  Although unit sales are down home values are steady.  Where do you think pricing is going?

City of Plano:  Pricing is Flat

Midway Corridor: Only down 1%


Zip Code 75093: Only down 5%


Zip Code 75024: Up 3%


Willow Bend Area: Only down 9%

[75093,Plano,Texas, real estate update]

Buying Over Improved Properties or I got a Viking Range in my 250K Home!!!

One of the best buying opportunities in this market is over improved homes. Going in and out of houses all day you do see a lot of lifestyles, some are representative of spending way way too much money for the value of the home. I sometimes wonder what a home owner was thinking putting $500K to $1M amenities in an opening price point home. Too much HGTV? Hard to say....Have you seen this too?

I really think they thought that improving a property no matter how much you spend will increase the resale value. I guess the kool-aid was tasting pretty sweet. Actually, that couldn't be farther from the truth. The budget of the renovation or improvements must be in keeping with prices of homes and neighborhood values. And more importantly, your budget.  That makes sense, doesn't it?

As with all improvements if your home is say, 250K to 350K don't buy top of the line appliances like a $10,000 Viking Range, the correct vendor would be more of a median price point like GE Profile or the many, many other choices we have as a consumer. The same consideration should go with flooring, paint, fixtures, hardware and of course, the common granite counter top. Big money can go into exotic colors plus slab thickness and finishing of edges. Pools, landscaping and outdoor living areas are a huge expense, so watch that one carefully.

So, if your a buyer looking for a property that's been updated you could just find one that's been over improved for the area and all you have to do is enjoy! That's another perk if you're buying today because you can get the upgrades at below market price if you can find one of these jewels in the right neighborhood and snag it!

[75093, Plano, Texas, Buying Over Improved Properties]

NO Pot Holes in Plano

When I heard of the Dallas motorcycle crashing because of a pot hole during Obama's visit last week; it made me think how lucky we are in Plano to have great city services. They are efficient and customer service driven and we have a clean city.  That's been my experience anyway.  Seriously, how long has Dallas been trying to fix pot holes on the streets? Decades?  Beside other Fortune 500 companies that help with the Plano tax base, the two below are part of the Legacy Corporate Campuses and most people would not even know they are headquartered in Plano, Texas.
HP

Rent - A - Center

[75024, Plano, Texas, Legacy]