Prosper, TX

Just recently, a builder sold their model home in Lakes of La Cima and the agent's office failed to put the "Z" on this Z-sale. What is a Z-sale? For those who may not be familiar, it is the ability to put an undisclosed sale price into the MLS. The listing price and the sale price show up as the same number in the system. This does not mean this was a full-list price sale. This means the builder or seller does not want the public to know what they sold the house for.

In the case of the builder's model home in Lakes of La Cima, I spoke with the builder one day when he was visiting the model. He advised me that he was willing to sell this home $45k below the list price. For agents who are not familiar with new home sales or might not be local to the area, they would not have any idea that the comps in the neighborhood will be inflated a bit by the Z-sale of that builder model. This can be disheartening to sellers in the neighborhood who are expecting similar results to what they think the builder received for their spec or model. They wonder why they don't get lots of showing traffic and they wonder why they don't get offers. The agents in the area know that home is inflated, and may or may not show the home because the pricing structure of the listing is out of whack.

Z-sales are very common in the North Dallas suburbs, where we have lots of new construction going on. When the market tightened last year, Z-sales became even more common. The builders have to work very hard to attract buyers to their finished inventory. The builder's pockets can be much deeper than a normal sellers, when they need to make a sale because they have significant quantities of finished homes on the ground.

Some resale owners in luxury price points have also asked to use the Z-sale option in the MLS. They may have friends in the neighborhood that they don't want to know the full details of their home sale. That ability to defy disclosure in the MLS keeps their sale price confidential if an agent runs sale comps for someone else in the neighborhood.

How do you adjust the comps in a neighborhood to reflect more realistic sales when there are a high number of Z-sales? It comes down to how well the agent knows their market. But, a good guestimate to reduce that Z-sale price by is 7-10%. That should give a more realistic outlook for the new listings in the neighborhood, and keep those new listings in line with the disclosed sales figures.

How many showings should a new listing be getting in these times to give the owner comfort that they have real demand for their home? Each home is accepted by the buyer market differently, but a good rule of thumb in the DFW area is that if you aren't getting at least three showings per week, you don't have solid demand for the home right now. If you go week after week with the right level of showings, around 3-5, and get no offers in 30-45 days, then it's time to look at your entire marketing strategy and re-evaluate each component. Price is only one factor. Take off any rose colored glasses about the house and review it for price, marketing exposure, location, condition, age, interior amenities, exterior amenities, neighborhood amenities and HOA dues, and curb appeal. Go online and review the homes immediately surrounding your home on websites like trulia.com, realtor.com, homes.com, zillow.com, point2homes.com, and others. Does the entire story make sense and does your home stand out in the crowd? If not, adjust what is out of line and give it 7-21 days to see how the market reacts. Don't expect the market to react instantly in Dallas/Fort Worth. Many of our buyers are coming from other states, and you need to account for travel time to arrive and be ready to tour homes.

Have a blessed day!

Ronda

God help me...I am going to be a substitute teacher! I decided once my kids were ALL in school, which is this year, due to my baby girl starting kindergarten, I would try out being a substitute, as well as a Realtor. What was I thinking??? ;)

I am actually excited about getting my foot in the door and getting through the first day (and a little nervous!)

I am going to sub at all of the Prosper ISD schools. I have already accepted 2 elementary schools substitute teaching jobs and I am working tomorrow at the new $113.5 million, 590,000-square-foot enormous Prosper High School, complete with a medical tech lab, a restaurant-worthy kitchen, a greenhouse, a broadcast studio and, of course, an indoor football practice facility... nothing but the best for the Prosper kids!

It sounds like a lot of fun and I've always been told I would be good at teaching, and judging by the subs that I had when I was a kid, you don't really seem to have to be that qualified. Matter of a fact, if I do become a flustered, I will just do what my subs did and put in a movie and read the Star Telegram in the back of the room. LOL! Just kidding!! ;)I believe here, in the Prosper ISD, things will be quite different. After all, I have 3 kids in the school system and I know it is a great place to learn!

THIS IS JUST ANOTHER CHAPTER IN MY MY LIFE'S JOURNEY...WISH ME LUCK!!!

The Sharkey Peek Group specializes in Prosper, Tx. We have lived/worked Prosper for over 10 years. Give us a call and we can answer any of your questions on Prosper as well as assist you in buying or selling. 214-356-4462 or 972-977-2254

TOWN OF PROSPER

PURPOSE

Prosper is a place where everyone matters.

BEST IN THE WORLD

Prosper will be the best in the world at providing systematic opportunities that inspire our

citizens to actually make a difference in our Town.

VALUES

Community

Leadership

Creativity

Economic Security

Security

Helping Others

GOAL #1 SECURE THE TOWN'S FINANCIAL FUTURE

a. Be sound stewards of the Town's resources and assets.

i. Implement a performance excellence management system

ii. Adopt business plans for all departments and overall for the Town

iii. Ensure that service providers receive timely and relevant training

iv. Develop a Volunteer in Prosper (VIP) program

b. Establish Financial Sustainability Policies.

i. Create benchmarks for budget and personnel

ii. Adopt policies supporting budget goals and objectives, asset investment,

personnel, purchasing, return on investment strategies, and debt

management strategies

iii. Develop and implement financial incentives for public private partnerships

that benefit the community with sustainable infrastructure as well as

development.

GOAL #2 ACTIVELY ENGAGE CITIZENS

a. Develop a holistic communication system that is personal and transparent.

i. Expand the definition of community to include anyone who comes in

contact with the services and or environment of the Town of Prosper.

ii. Establish partnerships with any and all who provide any information to the

residents and businesses of Prosper.

iii. Utilize as many communication tools available recognizing the diversity

and flexibility these tools offer.

iv. Establish relationships between the Town's organization and the

community that involves consistent and regular personal contact between

residents, neighborhoods businesses and the people providing services in

the Town of Prosper.

v. Mobilize everyone in the community in marketing Prosper

b. Provide a myriad of opportunities for residents to interact with each other and the

organizations that serve the community.

i. Create a virtual Town Hall including a full compliment of online services

ii. Build physical environments that promote gathering places for the

community to come together.

iii. Partner with the Prosper Independent School District on as many mutually

beneficial projects possible.

iv. Create a Citizens 2010 Bond Committee.

v. Designate a Community Liaison staff member within each Town

Department responsible for community outreach.

vi. Promote the ServeProsper campaign and programs creating opportunities

for aiding local residents in various stages of need.

vii. The Town will host timely community meetings, World Café's, to discuss

community issues and opportunities.

GOAL #3 MAKE PROSPER A JEWEL

a. Create a sense of place for each resident and business to identify with.

i. Update the Town's Comprehensive Plan, Zoning Regulations, Subdivision

Regulations and Development Standards to reflect Prosper's Purpose

ii. Create an image blueprint for the Town's major thoroughfares

and all municipal construction projects that provide a visual "tie

that binds" the community together.

iii. Reinforce the Town's visual imagery with all of the Town's

communication tools including online services and print materials.

iv. Foster and create traditions for Town residents and businesses through the

use of gathering places, parks and open spaces.

b. Create a community that is looking forward, encourages and embraces change.

i. Aggressively pursue and secure economic development opportunities that

will capture the market

ii. Invest in municipal infrastructure, architecture and development that

reflect excellence without compromise and supports Prosper's purpose.

GOAL #4 ENHANCE PUBLIC SAFETY

a. Position the Fire and Police Departments to be proactive.

i. Finalize a plan for dispatch operations

ii. Implement necessary improvements to support the Fire Department's goal

to successfully reach an ISO Rating of 3 or better.

iii. Expand Public Safety to include support for customer centered code

enforcement.

iv. Continue advancement of CERT

v. Conduct Emergency Management Training

vi. Where feasible consider establishing partnerships with neighboring

communities for joint dispatch, fire, and first responder and ambulance

services.

vii. Finalize plans for the construction of a second fire station serving the

western portion of Prosper.

b. Utilize technology to provide more opportunity for personal service.

i. Construct the necessary communications infrastructure for adequate

coverage for the entire community.

ii. Train all departments and CERT in NIMS

iii. Implement E-Watch programs for residents and businesses.

Prosper Eagles Top Farmersville and Start the Season 2-0.

 

The Prosper Eagles took the field Friday night against the Farmersville Farmers and proceeded to maintain a dominance over the Farmers throughout the game.  The defense was especially strong as it remained unscored upon for the season. The Eagles took a 17-0 advantage into halftime and then started the 3rd quarter with a 95-yard kick-off return for a touchdown. The Eagle crowd was full and loud and especially enjoyed hearing late updates of Celina's struggle and eventual loss to Trinity Christian Academy. The football Eagles prepare this week to take on Bridgeport, at Bridgeport next Friday and then the highly anticipated match-up against Frisco, in Prosper, the following Friday night.

As alway, Go Eagles! Prosper, Texas

 

 

 

Prosper quick links mls home search by price www.ProsperRealEstateSearch.com Prosper MLS Home Search

 

 

 

Information provided by licensed brokers.

 

1140 Monticello Drive, Prosper, TX 75078 in Lakes of La Cima subdivision. 3-family estate sale. Holiday decorations. Some antiques. Furniture. Toys. Housewares. Clothing. Harley Davidson jackets (2). Avon collectibles.

Hwy 380 to La Cima Boulevard. La Cima to Monticello. Follow the yellow signs.

In case of rain, sale will be held in both garages. Rain or shine.

Have a blessed day!

Ronda