What would happen if your home were mis-priced by $100, $10, or even just $1?  What if that amount caused a error so big that your home sat on the market, with only a trickling of showings, for six months to a year or longer?  We have fewer buyers in DFW than we did in 2007.  It's fact.  Even though our market has done pretty well in comparison to the rest of the major real estate markets in the country in 2010, lending restrictions, credit problems, and low consumer confidence have resulted in bringing fewer viable buyers for us to serve than just a few years ago.  We are still in buyer's market conditions in many parts of the Metroplex, although not in all (and that's a critical error some buyers are making in our market - assuming they can blanket the Metroplex with the assumption of... 08/17/2010

As a home buyer moving to a new area, it can be hard to know how to ask the right questions.  Agents don't always make the search easy on you.  Sometimes, you get exactly what you ask for.  The problem with that is, you don't always see every home that may have interested you.  The example I want to share today illuminates the different responses you could get to the question, "How many homes are available for purchase in Prosper, Texas?".  Seems like a simple enough question, right?  But, there can actually be six correct answers to that question: 1.  There are 157 homes available for purchase in Prosper, Texas. When you run an MLS search of home in Prosper, Texas - all of which will be in the Prosper school district, you come up with a number of 157 homes, ranging in price from $122,0... 08/11/2010

Once again, Prosper, Texas is heading into the Fall season in BALANCED market conditions.  A balanced real estate market is defined as one with approximately six month's worth of available housing inventory.  We're right there.  I predict we'll stay balanced going into the 4th quarter, as new listings are entering the market at close to the same pace as homes are taking contracts.  We should come into 2011 in a very healthy and balanced market. Even though we've had a heatwave in July and August, our open houses have been more productive than they were earlier in the Summer.  The last weekend in July was actually my best open house of the year on a luxury home between $400,000 and $600,000.  Luxury buyers are out making plans.  The 2011 buyers are starting out a lot earlier, too, with p... 08/09/2010

Prosper ISD has earned an Exemplary Rating under the 2010 Texas Education Agency accountability rating system.  Exemplary rating is the highest that any district can receive.  To earn this rating, at least 90 percent of a district's or school's students passed the Texas Assessment of Knowledge and Skills (TAKS), 95 percent of high school student either graduated on time or continued high school for a fifth year, and the district had an annual middle school dropout rate of 1.8 percent or less.  Out of the entire State of Texas only 239 school districts and 2,624 schools received Texas' highest accountability rating of Exemplary.    Here are rankings based on the schools within the district. Prosper High School - Recognized Prosper Middle School- Recognized R. Steven Folsom - Exemplary Ju... 08/06/2010

Back by request - here is my blog from earlier this Summer - and it's still true:There is NO unsellable home in Prosper, TX in 2010! Are you panicked, because the days on market field on the MLS is upwards of 90 days, 120 days, 180 days, 365 days?  The longer a home stays on the market, the more worrisome it can be for the owner that theirs is the home that won't ever sell.  There are some unsellable homes in the North Texas Region.  But, I can assure you that there is not a single unsellable home in Prosper, Texas.  I have reviewed every available home (176), taken the virtual tours, analyzed their pricing strategy, and checked on their marketing.  100% sellable, in my opinion. So why isn't a home getting picked?  There can be a myriad of reasons.  And, these days, getting some agents ... 08/06/2010

Back by request - here is my blog from earlier this Summer - and it's still true:There is NO unsellable home in Prosper, TX in 2010! Are you panicked, because the days on market field on the MLS is upwards of 90 days, 120 days, 180 days, 365 days?  The longer a home stays on the market, the more worrisome it can be for the owner that theirs is the home that won't ever sell.  There are some unsellable homes in the North Texas Region.  But, I can assure you that there is not a single unsellable home in Prosper, Texas.  I have reviewed every available home (176), taken the virtual tours, analyzed their pricing strategy, and checked on their marketing.  100% sellable, in my opinion. So why isn't a home getting picked?  There can be a myriad of reasons.  And, these days, getting some agents ... 08/06/2010

It's July, 2010.  We're not even done with the 2010 Summer selling season.  But, previewing by next year's buyers has already begun.  This coming weekend, there is a couple from Paris, TX coming down to drive through Prosper and get to know the area.  What can you do to get ready for them? Take photos now! The grass is green.  If you have a pool, the odds are that it's sparkling and clear right now.  The landscaping is probably lush and you have seasonal color in full bloom.  Take exterior photos now.  If you list your home in January, 2011, your grass will be dormant and your landscaping will not be showing at it's peak.  A little preparation right now will help the marketing efforts next year. Follow the HOA guidelines! When we drive around Prosper and find homes that are leaving tras... 07/29/2010

Homes for sale in Prosper, TX:  2841 Creek View Ct., Prosper, Texas 75078 $725,000 This is a beautiful Dave R. Williams custom home in the sought-after Gentle Creek Estates acreage golf community in Prosper.  Notice the 6-car detached garage / workshop.  This home sits on a park-like setting.  There is over an acre in the backyard.  Total property is 1.56 acres.  4 spacious bedrooms, ornate study, built-ins, niches and lots of wall space to showcase art and collectibles.  Guest room downstairs.  Covered porch, covered patio with ceiling fans and phantom screen door, outdoor living area with fire pit, coach lights at the head of the long driveway, and more.  This home has been reduced in price from $774,900 to $725,000 for a sale this Summer.  What a great value on a prime culdesac loca... 07/26/2010

Are you a painter, roofer, electrician, plumber, general handyman, carpet/upholstery cleaner, or some other contractor?  Are you linked in with the Collin County Realtors?  If not, you are missing a huge source of referral business.  In the last 2.5 years, many of us have lost our favorite contractors during the economic downturn, and we're looking to build new alliances.  My profile on linkedin.com is http://www.linkedin.com/in/rondakayallen66  If you are a contractor in the DFW Metroplex, I would like to invite you to link in with me online as a resource to my clients.  Put yourself down as a colleague and sent me a linked in invitation.  I am only looking to work with you if you take pride in your work and leave happy clients in your wake.    Have a blessed day! Ronda 07/26/2010

My biggest pet peave about Summer showings is when we come into a home that is up for sale and the A/C system is knocked way up to 85-88-90.  You may be off at work, Mr./Mrs. Seller, but your home is my office this day, and I'm trying to sell it for you.  Consider that the hundred dollars you'll spend on your A/C bill by bumping it down to between 75-80 may save you thousands in your contract negotiations. In my experience, a buyer will spend more time in a home where they feel comfortable.  Go ahead and bump that A/C down a tad.  Don't shut your blinds entirely throughout the house.  Leave a little gap, so the house isn't dark when we come in.  You definitely don't have to leave the lights on throughout the house at this time of year.  Our Summer days are long and our sunny days are al... 07/12/2010

Builders and owners alike have a shot at this latest Prosper, TX buyer.  They are already staying in Collin County.  They are already Texans, taking a corporate relocation from the Houston area.  Below is their criteria.  If you are willing to sell your home, or builder spec, and are a match, then I invite you to reach out and let me know.  We'll tour your home this week, and the buyer is prepared to be under a contract that will close in early August, 2010. Bedrooms:  4 or more Bathrooms:  3 full or more Flexible on single story, 1.5 story, or 2-story home Lot:  Minimum .25 acres  Maximum 1.0 acre Must include: Schools - Prosper ISD - ONLY Study Gameroom Formal dining room 2500 to 3800 square feet preferred Nothing over 4,000sf need apply At least 3 garage spaces - attached or detached... 07/09/2010

I've been married to my Husband, Joel, for almost 18 years.  We've been together going on 21 years.  I've been with him for the better half of my life (literally).  All the really good things I've experienced as a grown-up have happened with him by my side.  More importantly, all of the really bad stuff happened with him by my side, too. I went into real estate as a voluntary bail-out from corporate America. My aerospace company was downsizing in the trickle effect of 9/11.  We'd all been rated a-b-c-d based on a combination of factors that included education level and experience.  I was rated an 'a', and told that I'd be walking out the door with the last of them.  The only problem with that plan is that it wasn't my plan.  I'd been in aerospace before.  I'd seen layoffs before.  I'd n... 07/05/2010

Buyers coming to our area from other parts of the country bring with them a knowledge base related to real estate that basically has to be thrown out the window.  This is especially true if they are moving from other major metropolitan cities.  The major reason their logic doesn't apply very well here is that our great city is very likely newer and more affordable than where they gathered knowledge of real estate.  Here's a brief history lesson on our great city to help buyers understand that they are going to be shocked by how far their money goes in Prosper.  They are likely to be buying the biggest and newest home they've ever purchased.  But, they aren't going to steal it.  We're priced to sell, and they're offer better get in the seller's ballpark or it's likely to get ignored.  Th... 06/21/2010

There are two main strategies that get homes sold in Prosper, Texas.  The first is exposure.  You have to have enough lines in the water to catch that fish we call BUYER.  You may get a few nibbles that get you all excited, but we're looking for that one fish who wants the house and can qualify for a loan in today's economic environment. The other strategy is positioning.  Positioning of the home on the market to compete for a smaller buyer pool and succeed in capturing the buyer.  It's tougher to get a home loan than it was just a few years ago.  If I tried to buy my own personal home right now, I wouldn't qualify.  Why?  It's tougher for self-employed individuals to obtain a home loan.  And, I didn't have as good a 2009 due to the recession as my 2005 documented income that supported ... 06/20/2010

When I entered the real estate profession in 2002, it was with a fierce determination to succeed, almost 20 years in the workforce under my belt, a business degree, a professional certification, and no clue.  Real estate classes were fun.  Dry material, but a fun topic, and the classes are designed to be that way.  You have to want to be there, and so sitting through the classroom hours is part of paying your dues.  Taking the real estate exam was another hurdle.  It's designed to be difficult.  Many people fail it the first time - either in part or as a whole.  But, failure is most typically a sign that the test wasn't taken seriously enough.  There's your first eye-opener:  The general public thinks it's easy to be a real estate agent.  People go in under-estimating the test, and they... 06/18/2010

Would you ever consider selling your home without a for-sale sign?  We all hear that the buyers are on the internet, right?  The concensus is that over 80% of them are using the net to start their search.  If we apply a corporate 80/20 rule, we should be putting effort into the 80% and not sweat the small stuff.  Instead, we run around town putting up signs, putting back up signs when the winds blow, replacing sign riders and flyer boxes as the wind unscrews them from the sign, and swapping out marketing pieces at the curb like they're going to make a huge difference.  This is what I like to call 'smoke and mirrors'.  The reality today is that we don't need the for-sale sign in your front yard to attract your buyer.  There are actually some sellers in DFW who don't want their business a... 06/10/2010

As a Texas Realtor, and especially as a North Texas Region Realtor, I am constantly working to sell both resale homes, builder spec homes, and new construction build jobs in our community.  New and resale have co-existed in our area since around the 1870's.  And, our suburban sprawl continues.  A big mistake that people make is differentiating between new and resale.  It isn't just the buying public that does this.  Realtors do it.  Homeowners do it.  And, local builder representatives do it.  Some of the people with the most opportunity to sell more homes are those local builder reps.  They sit in a model home all day, and they take down information on prospective buyers.  Then, they file it away.  Maybe, they call on those folks from time to time to see where they stand with their pos... 06/08/2010

Just a reminder today.  Don't think the holiday means that you cannot view Prosper, TX homes.  The Centralized Showing Service is open for appointments until 6pm on Monday.  I am working until 6pm on Monday, and homeowners who want to sell will make their homes available for showings on Monday. Holiday weekends, when people are off work, are HUGE for home sales.  Memorial Day weekend is especially huge for home sales in our area.  It's the tip of the Summer, and the kids are getting out of school this week.  This is the kick-off goal for home buying for MANY of the early Summer sales.  There is a chance that an owner will turn us away, because the backyard barbecue just happens to be at their house.  They know that if you really want to see their home in person, you'll wait for Tuesday.... 05/30/2010

I received a call today from a prospective buyer from Frisco, TX.  He is seeking a Prosper home, in the $600k-800k price range, but wants to make sure that he buys what he would consider a 'deal' in our town.  Explaining to buyers that a home listed at $150.00/sf may actually be a fantastic deal is not always an easy sell.  Especially with a local buyer.  This buyer wasn't hanging around in the housing market when the builder was selling the home new at $185.00/sf before the recession.  The home hasn't necessarily been deeply discounted from it's original list price.  And, some of the best deals don't have the terms 'short sale', 'foreclosure', or 'REO' anywhere in their marketing.  A savvy Collin County, TX agent can price a home and market it to where it will draw in showing traffic. ... 05/24/2010

The trouble with residential leasing in Prosper, TX, as I have said on a number of occasions, is that we have a shortage of available inventory for lease.  As of this morning, there are only 12 residential properties for lease in Prosper, ranging in rental from $995 per month to $5500 per month.  And, in my personal experience, the homes listed for lease under $3500 per month in Prosper tend to rent very quickly, and with multiple applications being submitted in just a matter of a couple of weeks.  Currently, I have a tenant client who is looking to build a home somewhere in Collin County, TX.  They sold their Frisco home much faster than anticipated, and are looking for the following: 1.  Terms of 8-months fixed $2500-3000 per month 2.  4 months at month-to-month at a rate to be determ... 05/20/2010