About Collin County, TX

Here are the raw numbers for January 2010 home sales in Frisco, Plano, Allen and Mckinney TX. I've got the numbers compared to 2009s totals so we have an idea on how things are trending. Across the board the total number of sales is down - most noticably in Plano with a 48% drop. Everywhere except McKinney saw average price increases, Days on the market remains pretty stable, the largest drop in days being in Mckinney - indicating that perhaps prices should be stabilizing. In all cases the average price per sq ft increased - translating into good news for most homeowners.

Jan 2009 Jan 2010 % Change

Frisco - Homes sold: 110 87 -25%

Days on market: 109 104 - 4.5%

List to sales price % 96% 97%

Average sales price: $265,070 $299,025 +12.5%

avg price/sqft $87.96 $91.69 +3.3%

McKinney - # Homes 107 89 -16.8%

Days on market: 104 88 -15.3%

List to Sales % 95% 97% + 2%

Avg sales price: $213,061 $199,957 -6.2%

Avg price/sqft $76.64 $78.58 +2.5%

Plano - # Homes 148 100 -48%

DOM 86 85

List to Sales % 96% 98%

Avg Sales price $227,796 $263,176 +15.3%

Avg price/sqft $86.23 $90.07 +3.3%

Allen - # Homes 65 51 -21.5%

DOM 114 99 -13%

List to Sales % 97% 97%

Avg Sales Price $236,694 $261,131 +10.3%

Avg price/sqft $83.79 $86.52 +3.25%

The Take Away:

The start of 2010 has lower volume than last year, average prices are holding well - even increasing in 3 out of 4 communities, the time it takes to sell has gone down a little indicating there could be room for slightly higher prices, the list to sales % has held steady indicating that people aren't taking lowball offers. It could be that we may see an under supply situation very soon. I have clients that are having trouble finding what they want because of the low inventory! If you'd like information about your home or if theres another city you'd like to see numbers for drop me a line and I'll get it for you!

Some of the areas nicest real estate resides in the area of frisco homes for sale. These homes are great and the area is continuing to grow very rapudly. These homes have been a great find for people from all over. More and more people are moving to the north dallas suburbs which includes Frisco homes for sale.

Frisco homes for sale cab ne a great place for you and your family to move to if you are looking for a great community with many parks and shopping malls. These homes have been such a great buy for many families, because of the schools and local attractions within and around frisco.

If you would like to learn more about frisco homes for sale please give us a call today.

Some of the areas nicest real estate resides in the area of frisco homes for sale. These homes are great and the area is continuing to grow very rapudly. These homes have been a great find for people from all over. More and more people are moving to the north dallas suburbs which includes Frisco homes for sale.

Frisco homes for sale cab ne a great place for you and your family to move to if you are looking for a great community with many parks and shopping malls. These homes have been such a great buy for many families, because of the schools and local attractions within and around frisco.

If you would like to learn more about frisco homes for sale please give us a call today.

I shared this information with an agent recently because he asked me to enlighten him. Sometimes, it may be useful to know why some of our clients do the things they do because it's perfectly acceptable where they came from. No biggie, just the way things are.

This post is not a discrimation or nationality profiling. I am just here to share with you what little I know about growing up in Asia - Malaysia especially and dealing with real estate transactions. My sister-in-law was a real estate agent from 2004 through 2007, then she gave up the hat because of many reasons I will explain.

In Asia, Malaysia to be exact, Sellers usually retain the rights to sell the property himself/ herself in an Open Listing. The seller may call several different real estate agencies to sell the home for him as well as trying to sell it himself to save on some commissions. At times, these may be net listings with different agents.

Just picture a home with tons of real estate vinyl signs stuck to the front door or property. Then, there are some hardworking agents who may come by the house everyday to remove "competitors" signs and paste his all over.

A home buyer may decide to call one of those phone numbers, or if s/he prefers, s/he can contact the Seller directly. It is clear that the Owner's phone number is one of the hundreds of signs on the property too.

There is no lockbox and the Seller shows the property himself. There is no MLS to share knowledge that this property is on the market. Real estate agents do not need to be licensed. There is really no need of broker sponsorship. No standard contract forms, etc. They are usually completed at the attorney's office. This process from the time you say you want to purchase a house until you actually sign and own it might take you as fast as 3 months. Your brother can sell your grandfather's home and you could give him a small "Thank You" or referral fee.

By the time a buyer rolls around, the buyer who called an agent on the sign to show could decide to hold off from buying, contacts seller himself to strike a deal - without the agent (the procuring cause - What is that anyways in Malaysia?) If the agent has an agreement with the seller, the buyer and seller may choose to purchase the home at a later agreed date after the expiration of the protection period all for the name of saving some agent compensation. The buyer buys it for cheaper and the Seller didn't need to pay an agent commission. All totally and perfectly acceptable.

Now , I'm not saying every Seller or Buyer acts this way in Malaysia. But when it is done, it is not unheard of.

The only reason this is pointed out is because sometimes, we need to understand why our clients act the way they do. There is also a need to understand basic customary real estate negotiation tactics. Buyers and sellers should not just decide to call each other. You might upset the other party who is NOT used to the negotiation tactics and who hired representation to take calls on his/ her behalf.

America is made up of many people from all over the world. As an American real estate agent, we need to understand why some cultures do what they do in order to better serve them.

Think it's tough to be a real estate agent here? Think again. It might be tougher way out there.....

Read also, Sheldon Neal's French experience about the French real estate industry. As per Sheldon, you don't know how good you got it?

NOTE: Make sure you understand that my point is not to badger anyone or any culture. It is just to bring attention to why some clients act the way they do. We are all made up of our past experiences and what we are accustomed to.

American Agents: You are at a disadvantage if you didn't let yourself be aware about what the outside world do. If you understand insights, you will serve your clients far better. Even if you think you could control your clients, you can't control whom you deal with on the other end.

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Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

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Insights to What Your International Clients are Accustomed To

Who dat? is a term that was widely introduced to Americans in recent months. For those of you not familiar with its use, it is a term associated with New Orleans and adopted by the New Orleans Saints fans as their battle cry during Super Bowl XLIV. I would like to make a formal note of congratulations to the Saints on their much anticipated, long awaited win. Their win represents the Saints first Super Bowl trophy in the history of the franchise.

For me, who dat? brings to mind a neighbor and friend in the community. During the Super Bowl watch party, I had the opportunity to meet a couple of other families that have made our community home. These families relocated from New Orleans because of the devastation of Katrina. We are glad they chose to be our neighbors and friends.

Diversity is part of what makes a community great to live in and raise a family. I have often heard from others that I have met throughout our community say what great neighbors they have. Today if your path crosses that of a neighbor bring out the hospitality with a friendly hello, a warm smile or a simple wave of the hand. Together let's make our community a place to live where everybody knows your neighbor.