By Tom Branch, on November 19th, 2011 
Allen Texas, located just north of Dallas, is a great little city and a wonderful place to live. The city continues to grow with plenty of developement–both residential and commercial.
The Allen housing market has been relatively stable. This month we’ll take a look at Median Sales Price, Days on Market, and Months Supply of Housing.
Median Sales Price
The Median Sales Price, which had been on the rise for almost a year, retreated some over the past few months. I expect that will recover some now that several new home developments have been completed and are beginning to sell.
Days on Market
Days on Market has been on the rise for the past year yet remains below 90 days and below 2009 and 2010 levels.
Months Supply of Housing
The Months Supply of Housing is very good at 4.5 months of inventory currently on the market. The National Association of REALTORS® suggests that a 6-month supply of housing is a balanced market. Supplies over 6 months indicate a buyer’s market and supplies less than 6 months indicate a seller market. Our experience is that homes that show well and are priced right continue to sell.
Please contact us at 214-227-6626 if you have any questions or want more information.
Source: NTREIS on November 16, 2011 | Photo: Copyright 2011 Tom Branch
By Tom Branch, on November 16th, 2011 
Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:
Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.
The housing market is Fairview is very stable. This month we’ll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.
Median Sales Price
The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview.
Days on Market
The Days on Market in Fairview remain stable at about 120 days. While this is slightly over the average in the local area, 120 days on market is still very good considering the higher price points in Fairview.
Months Supply of Housing
The months supply of housing is slightly over 7.5 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller’s market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area.
Feel free to contact us if you have questions or need any additonal information.
Photo: Copyright 2011 – Tom Branch
By Tom Branch, on November 8th, 2011 This month I broke out the market data for Plano by price range. The ranges used are: under $165k, $165k-$220k, $220k-$319k, and $319k and above. Click on any chart for a larger view.
The Median Sales Price shows a modest 1 percent growth in sales prices in the upper two groups, a.3 percent increase in the $165k to $220k group, and a 1.5 percent decrease in the Under $165k group. While foreclosures are not a large part of the market, the lower two groups have a higher percentage of distressed sales which drags down housing values.
The Days On Market continues to climb. The good news is that all four groups are still under 180 days on market. The lower three groups average about 85 days on market while the highest priced group averages about 120 days on market. The National Association of REALTORS® considers a 6 month supply of housing to be a balanced market. Areas with supplies under 6 months are a seller’s market, and supplies over 6 months are a buyer’s market.
The impact of the Federal Homebuyer Tax Credits can be seen in The Percent of Original List Price Received charts. The rise in the percentage during the first two quarters of 2010 was caused when buyers were scrambling to get homes under contract and closed in order to qualify for the tax credits.
The housing market in Plano, TX remains relatively stable. The lower prices of the lowest group combined with low mortgage rates makes this a good time for first time home buyers and cash-flow investor to purchase property.
Source: NTREIS on November 7, 2011
By Tom Branch, on October 30th, 2011 75025 in Plano Texas continues to see a steady rise in days on market and the months supply of available homes.
Days on Market:
Months Supply of Housing:
The National Association of REALTORS® considers a 6 month supply of housing to be a balanced market. Areas with supplies under 6 months are a seller’s market, and supplies over 6 months are a buyer’s market. So while both have continued to rise, the market remains relatively balanced.
The good news is that the sales price per square foot has risen considerably since January 2010 and is only slightly below January 2007.
Sales Price per Square Foot:
As we enter into the winter months (typically a slower sales period), I expect we will see these trends continue until early 2012. While mortgage interest rates remain at all-time lows and Plano has a stable economy, it appears that both conventional and investor buyers are taking a “wait and see” approach to home buying.
Data Source: NTREIS on October 30, 2011
By Tom Branch, on September 25th, 2011 
August 2011 Statistics:
Status:
Active – 56
Contingent – 4
Kick Out – 1
Under Option – 2
Pending Sales – 0
Sold – 13
Solds:
Average sales price per square foot – $113.37
Average Days on Market – 48 Days
August was a relatively slow month for real estate in the north Dallas area in general. With daily temperatures over 100 degrees, people were not out looking at homes. What the numbers do show is that homes that show well and are priced right continue to sell in any market.
See all Homes for Sale in Twin Creeks Allen Texas.
Source: NTREIS on September 25,2011
By Tom Branch, on September 4th, 2011
Ridgeview Ranch is a master planned golf course development of about 885 homes located in the heart of north Plano. The community consists of four distinct communities – The Villages at Ridgeview Ranch, The Estates of Ridgeview Ranch, The Manors at Ridgeview Ranch, and Ridgeview Ranch West. Community amenities include two pools, a fitness center, playgrounds, parks, and the Ridgeview Ranch Golf Course. The original homebuider for the development was Centex Homes.
August 2011 Statistics:
Status:
Active – 14
Contingent – 1
Under Option – 2
Pending Sales – 3
Sold – 2
Solds
Average sales price per square foot – $86.62
Average Days on Market – 28.5 Days
August was a relatively slow month for real estate in the north Dallas area in general. With daily temperatures over 100 degrees, people were not out looking at homes. What the numbers do show is that homes that show well and are priced right continue to sell in any market.
See all homes for sale in Ridgeview Ranch Plano Texas.
Source: NTREIS on September 4, 2011
By Tom Branch, on August 9th, 2011 
I’ve been watching the rental market in the greater Dallas area for a number of years. It’s finally a landlord’s market again.
Since 2008 we have seen a steady increase in capitalization and occupancy rates. We’re to the point today that any decent rental property is leased in less than a week.
There’s nothing magic about the increase. It’s simple economics. As the availability of easy money dried-up in 2008, those would-be buyers went back to leasing homes. This allowed the glut of inventory we once had to slowly decrease. This stabilized occupancy rates and prevented the downward spiral of capitalization rates we saw during the market boom.
Come forward to 2010 and there are a couple of other factors that are driving the need for rental and lease homes in DFW. As homes went into foreclosure or were short-sold, those homeowners had no choice but to look for rental homes. While the Texas economy is stable, many of the people who could still qualify for a mortgage decided to sit it out and continue to rent. These two factors have basically drained the rental market in the area.
Currently I have almost 50 people looking for rentals and there are so few available. As soon as they come on the market, there are lots of showings and multiple lease applications.
I listed a large home in Frisco on a Friday. I had four applications on Monday. These were solid applicants with high credit scores, little debt, and substantial incomes.
We recently purchased a property for a local investor and leased it for him in less than a week. The Gross Rent Multiplier exceeded 10 with a Capitalization Rate of about 6.5 percent. This is prior to taxes and does not factor in appreciation over time.
It’s a great time to purchase investment property! Prices are low and the need for rental homes continues to climb.
Are you looking to purchase investment properties? Contact us! We have the experience and knowledge to find good investment properties, lease them to suitable tenants, and provide on-going property management if needed.
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