Hurt by the dot-com meltdown several years ago, Plano, Texas, a suburb of Dallas, has rebounded, say Realtors.
"The consumer has weathered the presidential election, the holiday season, the tsunami and there seems to be pent-up demand to purchase a home," say Realtors Fred and Linda Lanham. "Higher-priced homes are moving at a very rapid pace when condition is reflected in the price. Inventory in some areas continues to affect the market price and days on market - but the sun is coming out. November and December were a little slow, but everyone seems to be expecting a great first quarter of 2005."
Says Realtor Shana Acquisto, "As the fifth-fastest growing city in the United States in the over-100,000 population category, Plano's 23.1 percent growth rate is the highest in Texas. The median age of the Plano population is 31; median family size is 2.89. With a population of more than 220,000, Plano is no longer just a suburb of Dallas but is a city of its own. Plano's location, just 19 miles due north of downtown Dallas, and its nationally recognized public school system make this city a popular choice for those moving to the Dallas area. The average sales price for a home in Plano is $207,000; average apartment rent is $760 (on west side) and $688 (east side). Almost 75 percent of Plano households earn two incomes, with a average family income of $66,840."
"Plano is a wonderful city with a population (approx) of 250,000," says Realtor Roxanne Deberry. "This city has some of the best schools, restaurants, parks, and recreation in the metroplex. Plano was the first city in Collin County to develop its neighborhoods around parks where there are playgrounds, jogging, walking, and bike trails. The city is the largest in Collin County and has many small shops as well as major shopping malls. It is one of the cities of choice for major business such as Alcatel, EDS, Dallas Morning News, J. C. Penny and many others. The city has great roads and highways to interconnect to the downtown Dallas area. Recently the Dallas Area Rapid Transit (DART) came to Plano making downtown more accessible from the city. All in all, the environment is wonderful in this ever-growing and changing city. This is a great place for families."
Deberry advises, "The challenge we faced for our sellers was the many low offers on homes. Our buyers took more time in finding a home since there were many homes on the market. This actually was good for them because it gave them a wide variety of choices. I see 2005 being about the same as 2004 with maybe a little more activity on preowned sales. We are seeing many move-ups and first-time homebuyers looking for these type of homes, and I don't see that changing this year. Plano is about built out in new construction so preowned will be the order of the day."
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Published: January 25, 2005
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