Relocating To Plano 101
Dallas-Fort Worth is one of the fastest-growing metropolitan areas in the United States, and a lot of that growth is happening in Plano. With excellent schools, recent economic booms and a welcoming community offering plenty of family-friendly activities, Plano is a frontrunner for parents seeking the perfect place to raise a family in North Texas. Curious about the Plano housing market and how you can make it work to your advantage? Read on for information that will make your relocation to Plano easier on your family and your bank account!
What are housing prices like in Plano?
A 2016 study by SmartAsset determined that Plano is the healthiest housing market in the United States. The company based its assessment on Plano’s home values, market stability and other factors. The best news for buyers is that Plano homes retained their value much better than other housing markets across the country — only .6 percent of homes in Plano decreased in value in 2016, as opposed to the national average of 16.7 percent.
The median home value in Plano, according to real estate site Zillow, is $327,400, an increase of 10 percent since last year. Census data shows a more modest median home price of $222,800. Zillow also predicts Plano housing prices will rise another 4.8 percent in the next year. It’s not surprising: With Plano’s excellent schools, booming economy, and endless options for dining, shopping and family activities, many people would love to call the historic city home. But rising home values means now is the ideal time to make an investment in a Plano property, and with help from a skilled Realtor, like myself, you can feel confident that you’re paying a fair price.
How competitive is the housing market in Plano?
North Texas in general is a competitive housing market, with more than 60,000 people flooding into the Metroplex each year. Plano is no exception, particularly with the recent opening of a $1 billion Toyota corporate campus, which will see about 4,000 Toyota employees moving into Plano and the surrounding area. Houses in Plano spend less time on the market — 28.4 days — than the national average, 60.1 days, according to the SmartAsset study.
That’s not to say you can’t find your perfect house in Plano, though! It just means you’ll need a great real estate agent, like myself, who can navigate the market, get you appointments to see houses before they’re listed and negotiate your offer quickly.
Of course you can also help speed up the process by getting pre-approved for your mortgage and having a clear idea of your budget before you start looking. This will also give you a big leg up if you are bidding against other buyers on your dream home!
Are there houses in Plano for every budget? What kind of properties are available?
Yes! Whether you’re looking for a luxury family home, an urban condominium or the perfect starter home, Plano has plenty to offer. The historic city, first settled in the 1840s, also has charming older homes as well as new builds of all sizes and price points.
Higher-end neighborhoods include Lakeside on Preston, Willow Bend, Shoal Creek and White Rock Creek Estates. Many of Plano’s luxury neighborhoods include community pools, trails and gated entrances. If you’re interested in golf, check out the Greens of Gleneagles or the Villas of Gleneagles, which are associated with the Gleneagles Country Club, named one of the best country clubs in Dallas-Fort Worth by Avid Golfer in 2017.
If you’re looking for the perfect home for your young family, check out the Deerfield or Forest Creek Estates neighborhoods, both of which were first developed in the late 1980s and are now very popular for their friendly neighbors, active Homeowners Associations and great schools.
Some buyers prefer a little bit older vibe, and Plano has houses that fit the bill. Check out the Whiffletree neighborhood in central Plano, with its mature landscaping and large plots of land. This is the kind of neighborhood where no two houses look the same.
If you’re looking for a modern, urban place to call home, look no further than the Windrose Tower overlooking Plano’s Legacy West or the urban condos on East 15th Street in Historic Downtown Plano. Both offer dining and shopping within walking distance plus incredible views of the city.
And don’t worry if you are just starting out and want to stay under $300,000 — Plano has houses that fit the bill. Try the Plano East, Ridgewood and Creekdale areas for family-friendly homes that are a little easier on the budget.
We found our dream house — but four other people put in offers. What can we do?
This is when the right Realtor makes all the difference! I can help you figure out what you can do to make your offer stand out and be strong. Topping the list is having your pre-approval for your mortgage ready, which shows the seller you’re serious and ready to move quickly.
Aside from that, you should be prepared to be flexible with your closing date to accommodate the seller, consider offering more than the list price, and be prepared to pay more earnest money, shorter contingency time-frame and shorter option period amongst other things to prove you’re serious and very qualified about the sale.
Another trick that seems to be growing in popularity is writing a personal letter to the sellers letting them know what makes their house your dream home! Sometimes that special gesture is all it takes to tip the balance in your favor.
Is Plano growing?
Definitely. Plano has always been a key part of Dallas’ thriving economy, with Fortune 1000 companies including Cinemark Holdings, Dr Pepper Snapple Group and J.C. Penney choosing Plano for their corporate headquarters. But Plano’s economy is now getting a huge boost with the addition of the new 100-acre North American Toyota headquarters that opened this spring.
The city is also enjoying the recent expansion of its Legacy West development, which offers dining, shopping, offices and homes in one convenient site. Shopping options include a Warby Parker, Coach and Texas’ only Dean & DeLuca store, plus luxury electric carmaker Tesla.
With its economic success, family-friendly community, excellent schools and endless options for activities, dining and shopping, it’s no wonder that Plano is one of the most sought after communities in North Texas. That makes a move to Plano a wise investment for financial growth and, most importantly, quality of life. When you or someone you know is looking to buy, sell or build, please contact me at 972.896.9231 or email her at Nika@RogersHealy.com.
Author: Nika Arastoupour
July 20th 2017
About Nika: Nika was born in Tehran, Iran and moved to Frankfurt, Germany at the age of 2. Her family moved to ...