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Wednesday, 26 May 2010
2709 Mitchell Lane, Anna
4 Bedrooms * 2 Baths * Great Home Looking for New Owners
612 English Oak Drive, Allen
4 Bedrooms * 2.5 Baths * Large Yard with Pool * Spacious Home
Helping you find your home is our goal
Getting you through the process is our expertise!
Reechia & Keith Powell
Allen Texas Real Estate
Friday, 26 March 2010
SUNDAY, MARCH 28th
1:00 pm – 3:00 pm
1828 Lake Travis Drive, Allen
3 Bedrooms
2 Baths
3 Car Garage
A wonderful home that is turn-key ready. Priced to sell! Don’t miss seeing this one for yourself!
Helping you find your home is our goal
Getting you through the process is our expertise,
Reechia & Keith Powell
Allen Texas Real Estate
Tuesday, 23 February 2010
Brick home with fresh paint on a large corner lot! Featuring 3 spacious bedrooms, a fireplace, wonderful kitchen and a 3 car garage!
Located in Allen’s North Bethany Lakes Estates this home will exceed your expectations!
1828 Lake Travis Drive
Contact us to see it for yourself!
Helping you find your home is our goal.
Getting you through the process is our expertise.
Reechia & Keith Powell
Allen Real Estate
Wednesday, 03 February 2010
January sales in Allen, TX were nearly identical to the December 2009 sales stats. This is good news for both buyers and sellers. Sellers are enjoying less than 2 months on the market, a steady price per square foot ($97) and brisk sales, only 4 less homes sold in January than December!
Just one more fact to support the news that our area continues to enjoy a steady real estate market.
Traditionally December 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 Allen in January 2010
Sold Properties: 47
47 homes sold
Average List Price $273,704
Average Sold Price $264,979
Average Price Per Sq Ft $97
Average Days on Market 69
Tuesday, 19 January 2010
As we look toward the New Year we wonder what will the real estate market do? Let’s first take a moment to reflect on the past 6 months. Often reviewing what we just finished helps us prepare for the future.
Single Family Home sales in Allen, Texas were very consistent for the final half of 2009. · Average List Price $243,198
· Average Sold Price $229,131
o 6% difference between list price and sold price!
· Average Price Per Square Foot $87
· Average Days on Market 65
These stats tell us that homes sold on a consistent and reasonable basis. Not quite what the media would have you believe is it?
We are here to assure you that people are buying homes and they are selling for a fair and reasonable price!
The government tax credit has been extended and expanded – it is a GREAT time to buy a home!
Wednesday, 18 November 2009
Real Estate sales in Allen, TX has proven to be very consistent throughout the summer and early fall. Homes are selling in less than 3 months, and the price per square foot continues to be in the high 80’s. We expect the market to remain steady with the new tax credit bill the government just released.
For Allen in September – Sold Properties:
113 homes sold
Average List Price $248,301
Average Sold Price $238,496
Average Price Per Sq Ft $88
Average Days on Market 76
October – Sold Properties
114 homes sold
Average List Price $222,637
Average Sold Price $212,850
Average Price Per Sq Ft $84
Average Days on Market 76
Click here to see July & August stats
Wednesday, 16 September 2009
Allen, TX Real Estate Stats
Real Estate sales in Allen, TX has proven to be fairly “normal” for the summer months, a significant increase in the number of homes sold during June & July; however the number of homes sold in August remains higher than in May. The average sold price saw a dip in June but rebounded nicely! The price per square foot and average days on market has remained steady during the past 4 months.
For Allen in July – Sold Properties:
117 homes sold
Average List Price $254,381
Average Sold Price $244,116
Average Price Per Sq Ft $89
Average Days on Market 61
August – Sold Properties
99 homes sold
Average List Price $255,147
Average Sold Price $241,862
Average Price Per Sq Ft $88
Average Days on Market 70
First time buyers – the clock is ticking and time is running out to take advantage of the $8,000 tax credit. Allen remains a great place to purchase your first home.
Thursday, 20 August 2009
In our last article we discussed how soon it will be too late to use the $8,000 tax credit for first time home buyers. Today we want to review things that may cause a delay in closing and being qualified for the credit.
Buying a home is a complicated process, and it is not unusual for purchases involving first-time buyers to take slightly longer than those involving experienced buyers. Some of the delays that first-time buyers may face over the coming months:
Competition with Other Buyers
While home may be selling at a lower rate than in years past, in many areas changes in inventory have created extremely competitive buying environments. Foreclosures or other homes with greatly lowered asking prices are particularly sought after, and in many cases investors are very active in the marketplace.
Disclosures & Contingencies
The seller is obligated to disclose any material facts about the property, including any property defects or any lawsuits regarding claim to ownership on the property. Disclosures can stall negotiations and delay the contract signing depending on their nature and severity. Contingencies (written clauses in the sales contract that give protection to both the buyer and the seller of a home) can also result in some delay in negotiation, particularly if the contingency requires the seller to make specific repairs.
Appraisal
The lender will arrange for appraisal of the property, which will include a thorough inspection of the home's interior and exterior. The appraiser's report will describe the physical characteristics of the property and comparable property values will be used to determine the value of the property. If the appraisal of the home's value is lower than the agreed upon sales price, the buyer's chance of loan approval can be in jeopardy. In addition, recently added rules for appraisers have been causing some delays based upon anecdotal evidence.
Loan Approval
While interest rates remain advantageous for buyers, lenders are being much more fastidious during the approval process. Obtaining pre-approval can help prevent many delays.
The Holiday Season
Buyers who submit an offer in mid-fall may likely run into another roadblock to a pre-December 1st closing date: the approaching holiday season. Closing a real estate sale requires the work and attention of a number of professionals; from real estate agents to attorneys to bankers. Like many Americans, it is not uncommon for individuals in these fields to use up vacation time in the last few weeks of November. Securing a closing date during Thanksgiving week may be something approaching miraculous.
Additional Delays for Short Sales and Foreclosures
Buyers who make an offer on a short sale property or bank-owned foreclosure may find that it takes a significantly longer time to receive a reply than expected. Overall, buying these types of properties is a longer process than buying homes listed on the market by individual owners.
Let’s get started today, call us and let us help you through the home buying process!
Reechia & Keith
Friday, 14 August 2009
While the economy continues to show signs of improvement and many housing markets are beginning to heat up, scores of would-be buyers are still waiting on the sidelines for further positive housing trends. But for first-time buyers, time is running short on the federal government's $8,000 tax credit.
Though the official expiration date of the credit is December 1, in reality on-the-fence buyers will need to make a decision one way or the other fairly soon. The reason: in order to qualify for the credit, the home purchase must close by December 1st. Merely having loan approval, an accepted offer or a signed contract won't be enough to qualify for the Housing and Economic Recovery Act.
Decision-Making Timeline - While each transaction is unique, closing a real estate deal is no speedy matter. On average, closing takes place 45 to 60 days after the date that the contract is signed. In order to meet the December 1st deadline, this would mean having a signing date in late September or early October. Those who consider the tax credit an important incentive but are still unsure about entering the market will need to make a decision one way or another before many more summer days pass.
To have any chance at finding a home and having an offer accepted by early October, buyers will want to wade into the home buying process right away. The immediate steps include making a final list of desired home attributes, scouting favorite neighborhoods and areas, starting the mortgage pre-approval process and beginning the home search process online.
Thursday, 23 July 2009
Things are happening in Allen! 100 more homes sold in February than in June – that is the largest increase we have seen in these stats! And yet everything that should increase (sold price/price per square foot) did; and everything that should decrease (days on market) also did!
For Allen in May – Sold Properties
86 homes sold
Average List Price $249,117
Average Sold Price $241,952
Average Price Per Sq Ft $87
Average Days on Market 70
June – Sold Properties
131 homes sold
Average List Price $238,498
Average Sold Price $204,661
Average Price Per Sq Ft $86
Average Days on Market 58
The demand for homes in Allen is on the rise, if you are considering selling your home give us a call and let us help!
Monday, 13 July 2009
You often here the saying, “what’s old will be new again” – and that is true in today’s real estate market. Yes there has been a shake up and things have changed but there are still buyers and sellers and people living in the homes of their dreams. And as is true most often when things are “shook up” or changing, that going back to fundamentals is the best track back to “normal”
Below are time-honored home buying essentials that apply now more than ever:
Save Up to Pay Down
The tradition of the down-payment is almost as old as real-estate itself, yet home loans with no money or very little money down became increasingly popular during the start of the decade. Changes in the credit market have made such arrangements all but nonexistent today, and in many cases buyers won't be considered for a loan without at least a 10% down payment waiting in the wings.
In reality, buyers who invest at least a 15% to 20% down payment will be rewarded as markets re-stabilize. A larger down payment provides the buyer with a lower interest rate, lower payments, higher equity and a stronger negotiating position when it comes to refinancing.
Borrow Smarter
Lenders will employ a variety of different metrics to determine how large of a loan and monthly payment you qualify for, but ultimately you must determine a realistic monthly budget. Qualifying for a home doesn't necessarily mean that you can truly afford the payments in the real world. Start the home buying process off right by determining exactly what kind of mortgage payment you can afford, leaving yourself enough buffer to deal with life's little surprises.
Focus on Your Market
It's easy to be distracted by national housing headlines, but real estate has always been centered on very specific local market conditions. What is true in one area is not the case in another, sometimes down to the street level. Rather than paying too much attention to trends in distant cities and markets, keep your eyes squarely on the dynamics close to home, and work with your local real estate expert.
Call me and let’s talk about these fundamentals and how my experience and knowledge can help you!
Friday, 10 April 2009
1828 Caddo Lake Drive, Allen, TX is elegant and offers a traditional floor plan. This home offers something for everyone, plenty of room to spread out enjoy! Four nice sized bedrooms; sitting on a large corner lot; ideal back yard with extended patio!
Contact us & we will schedule a private viewing for you to see this wonderful home!
Monday, 09 March 2009
Now that we are two months into the “new year” let’s take a moment to look back at both months and see how things are changing in the real estate market.
For Allen in January – Sold Properties:
- 52 homes sold
- Average List Price $243,434
- Average Sold Price $235,021
- Average Price Per Sq Ft $85
- Average Days on Market 94
February – Sold Properties
- 41 homes sold
- Average List Price $214,335
- Average Sold Price $204,661
- Average Price Per Sq Ft $79
- Average Days on Market 88
Yes, there are changes, homes sold faster, but for a little less and fewer homes sold.
Remember the “spring selling season” is fast approaching! If you are considering put your home on the market give us a call and put our experience to work for you.
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