Real Estate Market Conditions

March 2012 Murphy Texas Real Estate Market Conditions

April 30, 2012

Murphy TX Real Estate – March 2012

It’s officially a seller’s market!!! For the past 3 months, less than 6-months of inventory is available for purchase. That means there are more buyers than there are homes for sale. Homes are selling at a faster rate and usually for top dollar.

Here’s a recap of what the real estate market in Murphy TX has been in March 2012.

Homes priced $0 - $300k - Murphy had 9 homes sold and closed in March 2012. Of these 9 homes sold; 2 of them were priced below $200,000. The average period to sell was 128 days.

Homes priced $301k - $500k - 3 homes sold and closed in March 2012 and ALL of them were under $400,000. The average period to sell was 79 days.

As buyers begin looking at homes to purchase, there is a good selection to choose from! Buyers are also still able to receive loans locked with 4% or less interest for 30-yr fixed. There are 54 homes for sale under $300,000 within the Murphy area. There are 48 homes to choose from between $300k-$500k. No matter what you are looking for, we can find it for you.

Home Buying or Selling - Call 214-418-0180 today to schedule a consultation.

Murphy Road Construction has just begun

April 30, 2012

If you live or work in Murphy, Texas (or even Parker and Wylie) you may have seen workers within the past 6-months or so, relocating utility lines along Murphy Road. This is for anticipation of the reconstruction of North Murphy Road…and it has just begun. There is already detours and road closures near the new McMillian High School and Murphy Middle School. You can no longer drive from Southfork Ranch to FM544 without a detour.

This construction will mean traffic disturbances, and delays…and it will certainly try our patience. However I am sure that the end result will be best for everyone.

For the next 24 months, we will need to exhibit patience, understanding, cooperation, courtesy and kindness. Just in case... plan an alternate route if you are in a hurry!

President George Bush Turnpike (Hwy 190) Eastern Extension is NOW OPEN!

January 18, 2012

GREAT NEWS! It's open NOW!

The North Texas Tollway Authority (NTTA) opened the Eastern Extension of the President George Bush Turnpike/Hwy190 (GBT) on 12/21/11. The Eastern Extension is the road that connects the GBT to I-30, so basically if you are traveling from Garland to Rockwall it will now only take minutes on the highway through this direct route. The NTTA partnered with TXDot as well as Dallas County, and the cities of Dallas, Garland, Rowlett, & Sachse to make this project happen.

Fun Facts from the NTTA website:

Ø Construction on the $958 million dollar project began in August 2008, and the corridor will open on time.

Ø Although the corridor opens on Wednesday, motorists will continue to see minor construction activity through the first part of 2012 as final touches are made to the corridor's infrastructure.

Ø Access to the I-30 frontage road is expected to occur in February 2012.

Ø The average toll for driving on the PGBT Eastern Extension is 15.3 cents per mile for vehicles with a TollTag.

Ø ZipCash rates are 50 percent more than TollTag rates.

You should definitely get a toll tag if you drive in this part of the DFW Metroplex since we have the Dallas North Tollway, the George Bush Turnpike, and 121/Sam Rayburn Tollway all in the Collin County and NE Dallas County areas. (not to mention the rates are 50% more if you don't have one)

Additional information is available on the NTTA website, www.ntta.org.

The North Texas Top Team Realtors serves the communities surrounding Plano ISD, Wylie ISD, and Lovejoy ISD. For more information about living in Plano, Murphy, Wylie, Sachse, Parker, Lucas, Princeton, Farmersville, McKinney, and the surrounding areas. Our professional real estate agents live here and work here, and we are here to serve our communities.

The Texas Real Estate Commission Needs YOU!

January 18, 2012

Have you ever wanted to be involved in politics, real estate, and helping the community in which you live? Would you like to help protect home owner rights in Texas? If so, this may be a great opportunity for you!

“The Texas Real Estate Commission invites applications for appointment to an open public member seat on the Inspector Committee.

The Committee’s purpose is to make recommendations to the Commission regarding a variety of inspection-related matters toward the goal of ensuring a high degree of service to and protection of the public in dealing with inspectors. The committee consists of six professional inspectors and three public members. The open public member appointment expires on February 1, 2015. Following the Commission’s model, public members may not hold occupational licenses in the real estate field (appraiser, real estate broker/salesperson, mortgage broker, etc.).

The committee is permitted to meet by teleconference, although it is anticipated that some travel to Austin will be necessary. Limited funds may be available for travel reimbursement, but members are not compensated for their time. All committee meetings must comply with the Open Meetings Act.

Individuals wishing to be considered for appointment should send a letter and resume to Chairman Avis Wukasch at the Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, by fax to 512-936-3788, or by e-mail to administrator@trec.texas.gov. Applications must be received at TREC no later than Monday, February 6, 2012.”

Get involved – let us hear your voice – we value your opinion!

January 2012 Murphy Real Estate Market Conditions

January 18, 2012

Texas Real Estate - changes for 2012 are here!

Several changes to Texas state laws that affect real estate professionals, property owners, and tenants went into effect Jan. 1, 2012. If you live in Texas, you may want to know about them.

1. Real Estate Brokers Licence - if you are a Realtor who is currently planning to get your Brokers License, you need to know that the qualifications have changed. There are new education requirements as well as experience requirements. To find out more, visit www.texasrealtors.com.

2. Title Policies in Texas - if you are a home buyer or a home seller in Texas, you may want to know that the rules about title insurance have changed...specifically regarding mineral rights. To find out more about how this may affect you, check with the Texas Department of Insurance at 1-800-252-3439 or www.tdi.state.tx.us.

3. HOA Resale Certificates - if you are a home buyer in Texas, and you plan to purchase a home that belongs to a mandatory home owner association (HOA), you will have the ability to order a resale certificate directly from the HOA company (or you can have your title company order it for you). A copy of the purchase contract will be required. All resale certificates will be good for 60-days, but can be updated if necessary. Previously it was customary for a home seller to pay for the resale certificate, but after January 1, 2012 the buyer will be responsible for this fee.

There are several other changes to our industry that have occured recently. For more information, please feel free to email me and I would be happy to send you a copy of an article outlining all of these important changes.

Have a happy & blessed 2012!