July 2009

Not a Bridge to Nowhere, But One to Nowhere Fast

Main road Lewisville Lake toll bridge feeds into won't be widened from two lanes for years.

 
Photo Credit - NBCDFW.com

The buzz is building for the opening of the Lewisville Lake toll bridge, but not all of it is good.

The bridge is designed to shorten commutes by allowing drivers east-west access between Interstate 35 and the Dallas North Tollway.

But while the bridge will open in four days, Eldorado Parkway, the main road it will filter into, won't be widened for years. The street is still only two lanes and even narrows in some areas.

Little Elm resident Dorothy Brown said the traffic nightmares of today will be nothing compared to what will happen when the bridge opens...

Click here to read the entire story.

Source: Randy Mcillwain, NBC DFW

Collin County Foreclosure Report

The number of new residential foreclosure listings for sale in the Collin County region continues to decline. In the second quarter of 2009 there were 1,521 new foreclosures listed, down 28.2 percent from a year ago when new foreclosures reached their peak. In the year since, foreclosure activity has cooled.

With job losses brought upon by the global recession mounting and the temporary moratoriums many banks imposed on new foreclosures mostly expired, it won't be surprising to see this trend reverse and more foreclosure appear later this year. For now, the drop in supply is welcome news.

Source: Collin County Association of REALTORs®

Monthly Real Estate Indicators for Collin County

Home values in the Collin County region are holding relatively steady. The median sales price for June was $182,995, which represents an increase of 0.5 percent from last year. Most markets around the country are experiencing hard price falls, but Collin County's market has avoided this by maintaining a relatively balanced market between buyers and sellers.

The inventory of homes available for sale continues to fall relative to one year ago.

In June there were a little under 19,000 homes for sale?a drop of 14.9 percent from a year ago. The dropping supply has helped offset drops in home sales to keep the Months Supply of Inventory available to a relatively balanced 6.6 months

Source: Collin County Association of REALTORs®

Viking Range Corporation Recalls Built-In Refrigerators

Name of Product: Viking Built-In Side-by-Side Refrigerator/Freezers and Refrigerators with Bottom Freezers

Units: About 45,326

Manufacturer: Viking Range Corporation, of Greenwood, Miss.

Hazard: The refrigerator's doors can detach, posing an injury hazard to consumers.

For more information on models and serial numbers, click here.

Source: Tammi Burgee

RE/MAX Balloon at the McKinney Red, White, and Boom Festival

We are excited to announce that the giant Red, White and Blue RE/MAX hot air balloon will be making an appearance this July 4th at the McKinney Red White and Boom Festival. The balloon will be appearing during the scheduled balloon glow which will begin at approximately 7pm.

For information regarding the event and scheduled activities you can visit their web site by clicking here.

Source: RE/MAX Texas