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 Real Estate Blog 
Tuesday, June 11 2013

The S & P / Case-Shiller Home Price Index recently showed that home prices in 20 major metro areas have increased at the strongest pace in the past 5 years.  North Texas pending sales are up 6.2%; pending sales tell us the market will continue at a strong pace.  The Median Sold Price is up 13.1%.  

Below you will find county-wide stats, to learn how your neighborhood is preforming contact us and we will provide a personalized report. 

 

Year-to-Date Summary for: May 2013



 

Property Type

Median
Price

% Change
Year Ago

Price/
Sqft

% Change
Year Ago

DOM

% Change
Year Ago

Single Family

$167,800

10%

$95

7%

64

-22%

Condos and Townhomes

$153,250

13%

$129

13%

73

-29%

Rentals

$1,300

0%

$1

3%

37

-9%

 



 

Property Type

Pending
Sales

% Change
Year Ago

New
Listings

% Change
Year Ago

Active
Listings

% Change
Year Ago

Single Family

34,779

16%

52,650

4%

22,205

-21%

Condos and Townhomes

2,245

32%

3,467

8%

1,612

-28%

Rentals

2,812

-79%

15,343

6%

3,121

-4%

 

 

 

Property Type

Sales

% Change
Year Ago

Average
Price

% Change
Year Ago

Single Family

34,625

21%

$220,237

9%

Condos and Townhomes

2,283

41%

$198,711

14%

Rentals

13,219

3%

$1,448

1%

 

 

Helping your find your home is our goal,

Getting you through the process is our expertise!

Reechia Powell     972-979-9978

Keith Powell     214-649-4823

Posted by: AT 01:00 pm   |  Permalink   |  Email
Monday, March 18 2013
In our last article we discussed Planning & Preparing for your move, here are the final P’s to make it a smooth move. 
Packing & Paying * Personal & Professional
Packing might seem obvious - get your stuff in boxes or bags and put it in a vehicle to bring it to the new place. Moving companies are aware of the best way to move pianos, grandfather clocks, tables or art that include large pieces of glass, and other items that require crating or disassembly, and this is one advantage of using them. When in doubt, do a bit of research and consult an expert.
Inquire with your homeowners' or renters' insurance company about their policies around moving to determine if you should purchase additional coverage. Most policies only cover your possessions when they are in your home - not when they are in a truck between two homes. There are policies that cover your possessions during a move, and they are generally available from the rental agency where you got the truck.
Professional moving companies that you hire to do the complete job may be responsible for breakage, but often that requires that you paid them to do the packing and it requires that you report the loss within a specific time period. If the item is sentimental, replacement or compensation is only part of the issue. Pack fragile items yourself in smaller boxes with adequate precautions and if possible move them yourself. If using a moving company, be specific if they are moving valuable objects that require special care. Companies might have limited liability and require insurance be purchased to cover certain items.
There is a hybrid method of moving: pack and move yourself, but hire a bit of help when you need it. Often local moving companies have laborers that may be hired by the hour to load and unload furniture and boxes. Their knowledge can help you to maximize space in the truck in addition to saving your back. Whether using professional movers, doing it all yourself, or taking a hybrid method, inventory all your rooms, and create a system to identify where the boxes go in the new home - use colors or labels on the boxes and then clearly mark the rooms where those boxes are to land.
Paying for a move seems obvious - from packing materials to trucks, there is a need for a budget, sometimes hiring help, and incidentals. One of the important but sometimes neglected parts of payment is to ensure that those who are handling your possessions feel as valued as you feel about the items that they are moving. While most companies don't expect a gratuity, tipping is appreciated by laborers who work long hours for low pay. Of course, tipping usually happens after the important work is done. Offering movers refreshment, drinks and even a breakfast or lunch won't break the bank and will often result in your belongings being treated with increased respect.
If you are doing the packing yourself, it will take more time, but you get the control. Unlike hiring a professional company with many experienced hands to pack boxes and put them on the truck, packing yourself usually has to begin much sooner. When packing boxes, ensure that they are sturdy and sized for the contents you are putting into them. If a box is too large and filled with heavy items, it will be impossible to lift. Boxes should be no more than 50 pounds in weight, and preferably closer to 30 pounds. Furthermore, mixing fragile items into a large box that is poorly labeled might result in breakage or loss.
Label boxes well and seek to organize the contents so that unpacking can be achieved in an orderly way and contents can be identified easily should the need arise. Keep like items together: books go with book ends, lamps with their extension cords and shades, pillows and bedding together, and so on. Each room might have one or two boxes with a tag that reads "Open First" so that essential elements of the room are easy to find.
When moving boxes, don't be ashamed to use a dolly or get help with heavier items. Lifting boxes and moving furniture is hard work that can cause injury. Bending from the knees is a rule of thumb, and when in doubt, get a hand with large or awkward items. In the truck, pack heavy boxes on the bottom, and beware that boxes might topple in transit.
Whether you move yourself or a moving company is doing the work, designate a few boxes that are clearly labeled to be put in central places in key rooms to ensure a "soft landing". For example, have a Kitchen Box that contains key items for making the first few meals in the new home. You might want a good frying pan, a pot or two, a coffee maker (with a few filters and ground beans), a few plates, glasses and mugs, some silverware, napkins, salt and pepper, some cooking utensils, a cutting board and a couple of good knives, can opener, corkscrew, matches and anything that might be helpful before you get to unpacking every kitchen box. In this manner, with a quick trip for some essentials at the grocery store, you could be "up and running" in your new kitchen within a very short time.
Have a box or perhaps two for personal care items, ensuring that towels and necessary products are easily found if your schedule requires that you are immediately on-the-go once you reach your new home. Consider tucking a clothes iron into this box, to enable people to look their best if packed clothes are too wrinkled. Never pack prescription or other important medications in boxes that you are trusting to a third party; keep prescriptions with you so that you can be responsible for them. Having a first aid box in the car or at the top of an identified box could be most helpful.
When packing clothing, consider packing a suitcase or box for each family member that contains clothing for the first week of your arrival. Have them clearly labeled and ensure that there are a few pieces of clothing that are appropriate for the weather you will be facing. Consider adding clothes for both casual and fancy occasions since having a small wardrobe of clean clothes ready to go, means that people won't be fumbling through boxes to find something to wear that first day or week. Don't forget to pack a few pairs of shoes in these bags, as well.
When you are moving a long distance, ensure that you keep passports, extra checks, tax records and other useful, personal documents with you for peace of mind. In the event that you need them, you'll know just where to find things. For extra insurance, scan or photograph and email yourself a copy of your passport, your health and other insurance cards, prescriptions or other medications you take, and the phone numbers of your credit card companies.  
And Finally - PARTY
Whew, we have arrived at the last P of your move – a Party to celebrate! Of course you won’t want to do this the day you bring that first box through the door, but plan to reward your efforts and bring joy into the home with some event that will mark the occasion. If you are new to a town or city, it creates an opportunity to meet your neighbors or get to know people in your new circles better. Even having one or two people over for coffee can put you in the role of host, opening your home to a guest, and announcing to yourself and the world that this is your new domain. Often planning for a company creates a deadline or a goal, encouraging "settling in" and getting the majority of those boxes unpacked. And, after all the work, you've earned some fun.
Helping your find your home is our goal,
Getting you through the process is our expertise!
Reechia Powell 972-979-9978
Keith Powell 214-649-4823
Posted by: AT 11:51 am   |  Permalink   |  Email
Tuesday, March 23 2010

Wylie, TX experienced a booming real estate market in the second month of 2010!  When compared to the number of homes sold in January, February saw twice as many homes sold!  And sellers, the good news doesn’t stop there!  The average listed and sold price for February increased by nearly $20,000!  To continue the good news, the average days on market only increased by two!  Sellers are enjoying a brisk market; and yet the buyers continue to enjoy consistent values for homes being purchased in Wylie, TX. 

 

There are less than 60 days to take advantage of the government tax credit.  As we all know, time flies – so don’t miss this opportunity!  Call us and let’s start looking for your dream home NOW!  

 

For Wylie in February 2010

 

Sold Properties: 74 homes sold

 

Average List Price             $189,314

Average Sold Price            $182,110

Average Price Per Sq Ft     $69

Average Days on Market    80     

 

January statistics for Wylie, TX

 

Review Plano Real Estate stats for 2009

 

 

Helping you find your home is our goal

Getting you through the process is our expertise

 

Reechia & Keith

 

Wylie, TX Real Estate

Posted by: Debbi Mortus AT 08:06 am   |  Permalink   |  0 Comments  |  Email
Thursday, March 18 2010

Buyers – the place to be is Plano, TX!  The average listed and sold price for homes in Plano in February dropped by $30,000!  However, be warned that the average days on market also decreased, and more homes sold than in January. This means the inventory is decreasing and the opportunities to “think about it for a few days” is dwindling as well! Homes are selling and they are selling faster than the past several months.  

 

There are less than 60 days to take advantage of the government tax credit.  As we all know, time flies – so don’t miss this opportunity!  Call us and let’s start looking for your dream home NOW!  

 

For Plano in February 2010

 

Sold Properties: 162 homes sold

 

Average List Price             $264,003

Average Sold Price            $254,641

Average Price Per Sq Ft     $92

Average Days on Market    68

 

January statistics for Plano, TX

 

Review Plano Real Estate stats for 2009

 

 

Helping you find your home is our goal

Getting you through the process is our expertise

 

 

Reechia & Keith

 

Plano, TX Real Estate

Posted by: Debbi Mortus AT 07:43 am   |  Permalink   |  0 Comments  |  Email
Wednesday, March 17 2010

First time buyers face a learning curve that can feel overwhelming if the right level of support and education is not available. It's not enough to merely educate one's self on buying strategies, mortgage application, and closing process. Buyers must also navigate through a sea of unfamiliar legalese, home building lingo and real estate specific jargon.

The glossary below is by no means complete and is no substitute for the careful guidance of an experienced real estate agent, but it can serve as a good primer for consumers getting their feet wet in real estate for the first time.

We will cover a variety of terms over the next several posts, so check back often!

Acceleration Clause
- Provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance when the first monthly payment is missed.

Acceptance
- A home seller accepts a buyer's offer. After a written agreement to the prices and conditions of the sale.

Ad Valorem
- Latin phrase that means "according to value." Ad valorem taxes are taxes are those assessed according to the value of the home.

Adjustable-Rate Mortgage (ARM)
- Repayment plan for a mortgage that permits the lender to adjust the interest rate periodically on the basis of changes in a specified index.

Agency
- The relationship of trust that exists between buyers or sellers and their agents. The agency is formed via a written contract.

Amortization
- Repayment of a mortgage in gradual installments.

Amortization Schedule
- Timetable for payment of a mortgage showing the amount of each payment applied to interest and principal as well as the remaining balance.

Annual Percentage Rate (APR)
- Total yearly cost of a mortgage stated as a percentage of the loan amount. This includes items such as the base interest rate, primary mortgage insurance and loan origination fee (points).

Appraisal
- Professional evaluation of a property's market value.

Appraised Value
- A licensed appraiser's opinion of the current market value of a property.

Assessed Value
- A tax assessor's determination of the value of a home in order to calculate a tax base.

Back-Up Position
If a seller receives two offers at the same time, he or she has the right to accept either one. If your offer is not accepted, you can request that it remain on file as a second offer, or a back-up position. You can continue to search for another home in this situation.

Buy-Down - Paying a lender to lower the interest rate.

Cash Reserve
Requirement of some lenders that buyers have sufficient cash remaining after closing to make the first two monthly mortgage payments.

Capital improvement
- Any improvement that extends the life or increases the value of a piece of property.

Certificate of Reasonable Value

States the estimated value of your property and is prepared by an appraiser.

Clear Title
A title that is free of liens or legal questions as to ownership of property.

Closing

Meeting at which a sale of a property is finalized. This includes the buyer signing the mortgage documents and paying closing costs. Also called "settlement."

Closing Costs

Expenses (over and above the price of the property) incurred by buyers and sellers in transferring ownership of a property. Also called settlement costs.

Commitment Letter

Formal offer by a lender stating the terms under which it agrees to lend money to a home buyer.

Counter Offer
Seller's response to a buyer's offer.

Covenants, Conditions and Restrictions (CC&R)
Official restrictions on a property (i.e., fence height, type of livestock permitted) to protect its value and prevent undesireable conditions.

Contingency
- A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. One example is a buyer's contractual right to obtain a professional home inspection before purchasing the home.

Convertible ARM
An adjustable-rate mortgage that can be converted to a fixed-rate mortgage under specified conditions.
Helping you find your home is our goal
Getting you through the process is our expertise
 
 
Reechia & Keith
Allen Texas Real Estate

Posted by: Debbi AT 08:22 am   |  Permalink   |  0 Comments  |  Email
Friday, March 12 2010

The second month of this New Year continues to prove that we have a consistent real estate market.  The Parker and Murphy areas experienced a mixed bag of results.  The number of homes sold in February increased, however the average list and sold prices decreased significantly.  And for the last puzzle piece the average days on market decreased by seven weeks!   So, if you are a buyer there is good news and if you are seller there good news!  This makes the Parker & Murphy cities a prime place to begin your home search. 

 

There are less than 60 days to take advantage of the government tax credit.  As we all know, time flies – so don’t miss this opportunity!  Call us and let’s start looking for your dream home NOW!  

 

 

For Parker/Murphy in February 2010

 

Sold Properties: 27 homes sold

 

Average List Price             $308,609

Average Sold Price            $299,532

Average Price Per Sq Ft     $86

Average Days on Market    83     

 

 

January statistics for Parker and Murphy, TX

 

Review Parker & Murphy Real Estate stats for 2009

 

 

Helping you find your home is our goal

Getting you through the process is our expertise

 

 

Reechia & Keith

 

Murphy, TX Real Estate

 

 

 

 

Posted by: Debbi Mortus AT 12:03 pm   |  Permalink   |  0 Comments  |  Email
Wednesday, February 10 2010
Sellers in Plano, TX are enjoying a consistent market, even during the holiday season. When we compare sales between December 2009 and January 2010 it is obvious it is a seller’s market. Over 100 homes sold in January, many more than the other areas we track. The average sold price and price per square foot increased with January sales. Days on market did increase slightly but remains under 2 months! 
 
Traditionally January Real Estate can be slow, and even though fewer homes sold the prices remained fairly constant!  
 
Our market remains steady and with the expanded tax credit it is a great time to purchase a home. To qualify for the tax credit you need to have a home under contract before April, which will be here before you know it!   Call us and we can help you find your dream home and take advantage of the tax credit!  
 
For Plano in January 2010
Sold Properties:
 
102 homes sold
Average List Price             $297,715
Average Sold Price            $288,435
Average Price Per Sq Ft     $101
Average Days on Market    75
 
 
 
Posted by: Reechia Powell AT 08:05 am   |  Permalink   |  0 Comments  |  Email
Friday, February 05 2010

We have the first month of the New Year behind us, so what did the real estate market do?   Well, in Parker & Murphy area we saw a significant increase in the average list and sold price.  The average price per square foot increased $10!  The down news is that the average days on market doubled from December to January.  Also there were 50% fewer homes sold in December.  

 

Yes, this can be attributed to the “typical” holiday slow down in real estate; however that doesn’t fully explain the increase in prices. 

 

Our market remains steady and with the expanded tax credit it is a great time to purchase a home.  To qualify for the tax credit you need to have a home under contract before April, which will be here before you know it!   Call us and we can help you find your dream home and take advantage of the tax credit!  

 

For Parker/Murphy in January 2010

Sold Properties:

 

16 homes sold

Average List Price             $354,449

Average Sold Price            $336,550

Average Price Per Sq Ft     $93

Average Days on Market    137   

 

Click here to review end of year stats

 

Reechia & Keith

 

Murphy, TX Real Estate

Posted by: Debbi AT 02:47 pm   |  Permalink   |  0 Comments  |  Email
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Reechia Powell Realty Group
301 S. Watters Road #100
Allen, TX 75013
Phone: (972) 979-9978
Email: Reechia@Reechia.com

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