Gynell Stalford - Texas Cert. Appraiser *****FHA & FLAGSTAR APPROVED*****

Here is some important information for realtors, builders and stagers regarding selling of home furnishings within the city limits of Frisco. The City of Frisco's Code Enforcement Administrator recently issued a letter regarding an illegal "Use of ‘Model Home Furniture Sale' promotional technique."

See excerpt below, taken directly from the letter, regarding this illegal technique:

"The technique is to team with a furniture store to stage a house for sale. Signs are put up on the major streets and in the neighborhood directing traffic to the home. There are representatives selling the furniture and the home. Although a good sales technique, it is illegal from several points. First, each sign that is placed out directing traffic is in violation of Frisco city code with fines of $500 for each sign. Second, it places a commercial retail establishment in a residential district which is a violation of zoning ordinances ($2,000 fine)."

For more information about this illegal practice, please contact Greg Carr, City of Frisco Code Enforcement Administrator, at 972-292-5300.

The data here shows year to date Frisco market conditions taken from the local MLS.

Year To Date (1/1/2009 - 8/20/2009)

Total # of Sales - 1509

Absorption Rate - 189

Total # of Active Listings - 1090

Months of Housing Supply - 6 months

Average Home Sales Price - $283,892

Average Days on the Market - 81

In comparison to the same period a year ago (1/1/2008 - 8/20/2008)

Total # of Sales - 1785

Absorption Rate - 223

Average Home Sales Price - $305,478

Average Days on the Market - 92

The above data shows a current housing supply of 6 months which is considered optimal. There is a 15% drop in sales volume and a 7.6% decrease in average home sales price from the same period of the previous year.

In comparison to the same period two years ago (1/1/2007 - 8/20/2007

Total # of Sales - 1882

Absorption Rate - 235

Average Home Sales Price - $300,477

Average Days on the Market - 74

The current year to date Frisco home sales has dropped 20% in volume from the same period two years ago. However, the data shows average home sales prices to have dropped only 5.5% from the same period two years ago.

Below is a comparison of the monthly activity of home sales for 2009 year to date and for the same periods for the previous year.

Date Ending # of Sales Avg Sales Price Avg SP to LP Avg DOM

Jan 2009 108 $267,765 96% 82

Jan 2008 138 $279,950 96% 106

Difference -27% -4.5%

Feb 2009 173 $293,713 95% 101

Feb 2008 160 $316,146 95% 114

Difference +8% -7.6%

Mar 2009 214 $277,986 97% 91

Mar 2008 235 $314,197 96% 106

Difference -10% -13%

Apr 2009 205 $289,176 97% 84

Apr 2008 244 $304,651 96% 85

Difference -19% -5.3%

May 2009 205 $288,396 97% 72

May 2008 282 $313,781 96% 94

Difference -38% -8.8%

Jun 2009 251 $287,590 97% 74

Jun 2008 282 $299,117 96% 80

Difference -12% -4.0%

Jul 2009 267 $275,154 97% 73

Jul 2008 294 $300,466 96% 83

Difference -10% -9.2%

A month to month comparison for this year to date shows a slight increase from the beginning of the year in sales volume while home sales prices have held steady. A comparison of the corresponding months from this year to the previous year shows a decrease in average sales price ranging from 4% to 13%. However the average sales volume and sales price year to date is holding steady to slightly improving. The outlook for the remainder of the year would be a continuation of this stable trend.

I finally made it out to one of the monthly DFWAMP networking happy hour for real estate professionals in the Dallas Fort Worth Area and had the best time. I was surprised and excited to find that downtown Grapevine is as charming as can be. Its full of activity and every shop and store was buzzing with activity. Chill is a very quaint local bar with a relaxing atmosphere and nice friendly people. It was worth the drive from Frisco.

Thanks Scott for putting on another cool event. Look forward to going back there next month.

10. I'm still here.

9. 7 years Experience in this Market

8. Carry E&O Insurance

7. State Certified Residential Appraiser

6. Friendly Happy Timely Service

5. Specializing in Complex Residential Appraisals

4. 24 - 48 Hour Turnaround from time of inspection

3. FLAGSTAR APPROVED

2. FHA APPROVED

1. I love Appraising and it shows in my work!!!!!!!!!!!!!!!!

METROPLEX APPRAISAL SERVICES (THE FHA APPRAISAL SHOP) PROUDLY PRESENTS

AMP Networking Tarrant County
Realtor and Mortgage Industry Neworking Event

AMP Networking Realtor and Mortgage Industry Event

Wednesday, August 12th
@ 6 PM to 8 PM

NEW EVENT LOCATION

Chill 814. S. Main St Grapevine, TX 76051 (817) 310-6330

$2 You Call Its Drink Specials

AMP Networking Event - Tarrant County
Realtors, Builders, Lenders, & Vendors.
Chill Main Street in Downtown Grapevine - officially 6:00 to 8:00
but stay later! MAP

Call J. Scott Harris
For More Information:
214-435-8825

Great Networking!!!

AMP Networking promotes & provides FUN events, education and travel opportunity to deepen business and social relationships, improve networking, and further career opportunities for mortgage industry professionals. Our member invitation list is over 10,000, and 900 people attend our Mortgage Industry Networking events every month in Dallas & Tarrant County, Houston & Austin.