I saw this great article in Collin County Commissioner, Joe Jaynes', "The County Line" e-mail newsletter (back on Aug. 4, 2009). Good info. about 75/Central for all Collin County Residents. It may just be my imagination, but I think some part of this highway been under major contruction for the past 25 years or so (at least, as far back as I can remember). Guess that's the price of growth and progress...
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Update on U.S. 75
By Joe Jaynes, Collin County Commissioner

Almost everyone in Collin County lives within 30 miles of U.S. 75, a road that could be considered the spinal cord of Collin County's north-south mobility. Next year's expansion of U.S. 75 to eight main lanes and two three-lane service roads will affect the daily commutes of thousands. Quite frankly, that commute will get worse before it gets better - but better it will get.

The good news is that the funding for the much needed expansion is in place, and after engineering and environmental studies are completed, the project will be ready to go.  Below is a breakdown of segments of U.S. 75 and when they are scheduled to be let, or awarded for construction. Please keep in mind that once a project is let it usually takes another 90 days before dirt begins moving. Also, all the projects below have a two to three-year time period for completion.

- U.S. 75 from Legacy to S.H. 121: This segment is scheduled to let in fall 2012 and be completed by fall 2014.
- U.S. 75 at S.H. 121 Interchange: Already under construction, this new four-level interchange will be open to traffic by spring 2011 and fully completed by the following spring.
- U.S. 75 from S.H. 121 to U.S. 380: This segment goes right through the heart of McKinney, and is scheduled to let in late 2010 with a scheduled completion in spring 2014.
- U.S. 75 at US 380 intersection: One of the most congested intersections in Collin County, this project is already underway and scheduled to be completed by fall 2010.
- U.S. 75 at Wilmeth: This segment will go through some major change as U.S. 75 will be constructed over Wilmeth with an exit added at Bloomdale Road. This segment will let next spring with completion scheduled for fall 2011.
- U.S. 75 from Bloomdale Road to Telephone Road: This segment will let in spring 2011, with construction scheduled to be complete by summer 2013.
- U.S. 75 from Telephone Road to Melissa Road: This project includes a new interchange at U.S. 75 and S.H. 121 in Melissa. The project will be let in spring 2012 and is scheduled to be completed by fall 2014.
- U.S. 75 from Melissa Road to Foster's Crossing (the Outer Loop): The Texas Department of Transportation (TxDOT) would like to schedule this to begin in spring 2013, but we need to see how far we are on both the Outer Loop and how the schematic will look for the interchange at the Outer Loop and U.S. 75.
- U.S. 75 from the Outer Loop to Grayson County: At this point, there is only funding for engineering. Hopefully, two legislative sessions will have passed by the time we need to move dirt on this project and new construction dollars will be allocated.

Even though U.S. 75 is a TxDOT project, the majority of the funding for these project segments came from the S.H. 121 Regional Toll Revenues. The North Texas Tollway Authority paid the region $3.2 billion for the right to toll S.H. 121 for the next 50 years.

Of this $3.2 billion, $1.5 billion came to Collin County. Out of the $1.5 billion, $600 million of this money went to the construction of the S.H. 121 main lanes, which is moving forward aggressively now. Another $600 million is being put into U.S. 75, with the remaining funds upgrading other major thoroughfares throughout the county. 

Overall, Collin County is very fortunate because, while the state is going through a major transportation funding crisis, we are still able to move forward with these important projects. I look forward to keeping you updated on this issue. Please feel free to comment on this issue and others at my blog at www.joejaynes.com.
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Thanks for the great article Commissioner Jaynes! I just hope the construction delays/headaches aren't too terrible.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com
 

Tax free weekend is here again (August 21-23), and for 2009 the list of tax free items has again been updated (see below). So, stores will be stacked with items on sale, malls will be madhouses with people trying to save, and those without a great need to shop will be staying as far away as possible.

The basic rule of thumb is that the law exempts clothing and footwear priced under $100. However, there are exceptions and most accessories don't qualify. Also, for 2009, school supplies have been added to the list of items that are tax free. The tax savings themselves aren't THAT great... about $8 for every $100 you spend. And since most people wouldn't exactly rush to a store advertising just 8% off some items, many retailers combine some of their larger sales with this tax free weekend. This makes the tax free savings an even bigger bonus on top of already discounted prices. Retailers count on moving a high volume of merchandise, and selling both tax free and taxed items, while shoppers are in a frenzy this weekend.

From Collin Creek, to Willow Bend and Stonebriar malls, expect large crowds. The Allen Premium Outlets are traditionally packed as well. The new malls (Waters Creek at Bethany and 75, and The Village at Stacey and 75) should see a ton of traffic too. Even Walmart and Target stores are typically packed. The good news is that there's just no shortage of shopping in Collin County. Know this though: those out for the best savings and selections will be out in droves early. Personally, I'll be avoiding the malls and retail stores all weekend. Not that I don't like saving money, but I'm not a big fan of shopping and I don't really like crowded stores/malls. For those who compare shopping to hunting though, and see great savings as a big kill, this weekend is big-game heaven and peak shopping season. To see the complete list of tax free/taxable items, go here: http://www.window.state.tx.us/taxinfo/taxpubs/tx98_490/tx98_490.html
Happy hunting/super shopping!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

As our property tax appraisals arrive in the mail again this year, many people are shocked to find that their taxable county appraised value stayed about where it did last year or even went up! They're shocked because many people assume that all property values have been falling, especially due to the "bad" real estate market we all hear about on the news. However, most of our local real estate market isn't nearly as bad as the media would have you believe. The media tends to report broadly, on entire counties or states (they just don't have time to report on every single neighborhood). Real estate is WAY to local for these broad reports to mean much in regards to your home (just be sure contact a local real estate professional to get the facts about your home/neighborhood). So, many people who were expecting a lower property tax appraisal aren't getting one simply because their property values haven't fallen. However, there are certainly tax appraisals that are too high...

The good news: If you feel that your property tax appraisal is higher than your actual property value, in Texas, you can protest it. It can't just be a feeling though, you're usually going to need proof. If you're not sure about your appraisal and/or your property value, or you need to get that proof, ask a local real estate professional to help. We can help explain and/or pull some comparable sales data for you. If this data indicates that the appraisal is indeed high, the you can request an informal review and/or schedule a protest hearing with the country appraisal district. In either case, be sure to take the comparative sales data with you and any other supporting documents (like contracts, appraisals, loan docs, repair estimates and/or pictures). Many people try "cherry picking" the lowest priced sales around their home, but the appraisal district generally looks to see if you have done this and discards such sales and/or points to comparable homes that sold for more. Oh, and even on homes recently purchased, what you paid doesn't determine the tax appraised value. This value is set by what multiple properties like yours appeared (to the appraisal district) to be selling for around Jan 1, 2009. So, just because you got a great deal and bought a property below market or tax value, doesn't mean that they'll adjust downwards... though you can still try to protest it...

The bad news: Your time to file a protest is short. In Collin County, the Collin Central Appraisal District protest deadline is June 1, 2009. You can start with an informal review if you would like (which can get your appraisal lowered). If it is not lowered, and you still disagree with it, you can file a protest for a formal hearing. To request an informal review or ask questions, call 469-742-9200 (metro) or 866-467-1110; or you can visit 250 W. Eldorado Pkwy in McKinney. Hours are M-F 8am-5pm and Thursdays in May 8am-7pm. However, note that the typical wait time is 45 minutes and wait time increases the closer we get to the protest deadline (so don't delay). To file a protest for a formal hearing, check the back of your proptery tax appraisal ("2009 Notice of Appraised Value") you got in the mail; the protest form is printed on the back of the appraisal.

Oh, and you might want to Click here for a short, related article about property tax appraisals. It talks about how they affect to the sales price when you buy or sell.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

As I've been telling anyone who will listen over the past 8 months, some cities are not drowning in falling home prices and/or rising unemployment. The "mortgage meltdown" 2007 didn't crush the real estate market nationwide. Despite the national trends, several major markets are doing just fine.

To identify the healthiest real estate markets, Forbes magazine recently examined the country’s 50 largest metropolitan areas. The magazine studied key factors such as unemployment and job-growth data from the Bureau of Labor Statistics, home price data from the National Association of REALTORS®, and information on gross metropolitan product growth provided by the U.S. Conference of Mayors. After all that research, what did they find? They were able to compile a list of 10 cities that Forbes sees as "practically recession-proof". They are listed below along with the percentage of growth for median-priced homes in the past year.

Oklahoma City, Okla. Median home price: +8.2 percent
San Antonio, Texas +7.9 percent
Austin, Texas +6.4 percent
San Jose, Calif. +11.2 percent
Raleigh, N.C. +4 percent
Salt Lake City, Utah +2.5 percent
Houston, Texas +1.1 percent
Seattle, Wash. +1.2 percent
Charlotte, N.C. +3.3 percent
Dallas-Fort Worth, Texas +.5 percent

Notice a trend? That's right... Texas is quite obviously the "most recession proof" state with 40% of the nation's top 10 metro areas (North Carolina is the only other state with more than one city on the list). I've heard experts say that that this is due to our state's low unemployment and continually high job growth (thanks in large part to the rebound of the tech sector). So, Texas is still the place for low, stable home prices with slow & steady gains. It's a fantastic place to be buying or selling real estate!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com 

Time to look at the January sales numbers (see charts below). Comparing the month of January (2007 vs. 2008) you'll see that the number of sales for Collin County recovered a bit (in relation to the December numbers) and is only off by around 100. We still see a a slight increase in days on market and an even bigger decrease in the sales price/sq.ft. (decreasing for the second month in a row). Again, if this trend continues, it could signal trouble. I'm still not ready to cry out that prices are falling, but it will bear close watching. With that in mind, I'll reiterate the fact that Sellers should be aware that homes are still selling (my listing inventory continues to sell) but remember: the homes that are selling, for the most part, are those with the best marketing, in the best condition, with the best prices.

Number of Properties Sold in Collin County - Jan. 2007: 809
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2571	$244,009	$235,628	$91	75

Number of Properties Sold in Collin County - Jan. 2008: 701
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2613	$240,471	$231,175	$88	89

Do you enjoy reading about about recycling? Heading out in your hybrid? Studying solar power? Then you won't want to miss the Live Green Expo 2008. This event will have all kinds of "green" exhibits and presentations. Plus there will be live entertainment, children's activites, hands-on demonstrations and even prizes being given away! Come see how much fun "living green" can be. Besides saving the planet, you might just find that some "green" solutions can actually help you save some green (i.e. cash). The event is FREE at the Plano Center on April 12, 2008 from 9am-5pm and centers on nine core values:

Transportation - Yard & Garden - Food & Agriculture - Lifestyle & Recreation
Green Building & Remodeling - Energy - Indoor Air Quality - Waste Reduction - Water

For more details check here:
http://www.plano.gov/Departments/Environmental+Services/livegreenexpo/

That's right, it's time to celebrate train robbery... or at least commemorate one very famous train robbery in particular. The city of Allen has a few different "claims to fame" like being the home of Olympic gold medalist Carly Patterson and being home to the very first successful train robbery in Texas.

The latter involves a heist which went down 130 years ago in Allen, TX (February 22, 1878) and was perpetrated by the infamous Sam Bass and his gang. Back then Allen was little more than a water stop for refilling steam engines on the Houston and Texas Central Railroad (H&TC). However, times have changed and Allen has come a long way in the past 130 years. On Saturday, February 23, 2008 from 10am to 2pm the Allen Heritage Guild is commemorating the infamous event with a live re-enactment of the Sam Bass Gang Robbery by Allen H.S. Drama Students and family activities at the Allen Heritage Center (train depot). From 2pm to 4pm there will be a presentation of "Holdup at Allen Station" by Rick Miller, County Attorney of Bell County, TX and author of the book "Sam Bass & Gang." A reception and book signing will follow the presentation.

So, come out and enjoy celebrating, or at least commemorating, one of Allen, Texas' most interesting "claims to fame." It should be a great time for the whole family... just don't tell the kids they're actually learning history.

Let's look at the December sales numbers, shall we? Comparing the month of December (2006 vs. 2007) you'll see that the number of sales for Collin County continues to be way off (over 300 fewer). Combine this with an slight increase in days on market and a slight decrease in the sales price/sq.ft. and, if this trend continues, it could signal trouble. I'm not ready to hit the panic button just yet, but it is certainly a Buyer's market right now with historically low interest rates and plenty of inventory (homes) to choose from. With that in mind, Sellers should be aware that homes are still selling (I've sold a bunch of my homes/listings in the past couple of months) but the homes that are selling, for the most part, are those with the best marketing, in the best condition, with the best prices.

Number of Properties Sold in Collin County - Dec. 2006: 1106
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2615	$254,197	$245,936	$94	73

Number of Properties Sold in Collin County - Dec. 2007: 883
	Square Feet	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2613	$250,183	$244,619	$93	86

Well, the November sales numbers are in. Comparing the month of November (2006 vs. 2007) you'll see that the number of sales for Collin County is down by around 150. While that is a lot, it is consistent with the past several months and the trend is actually a little better than Sept. & Oct. The average days on market is slightly up but our sales prices remain steady at an average of $95/sq.ft.

Number of Properties Sold in Collin County - Nov. 2006: 1036
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2539	3	2	0	$248,561	$241,638	$95	64

Number of Properties Sold in Collin County - Nov. 2007: 883
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2666	3	2	0	$261,805	$253,941	$95	80

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

After a nice conversation with the very helpful Public Information Office for Allen ISD, I got some really good information. First, let me say that a final decision on school boundaries is not being made until January 21. Also, the board has scheduled meetings specifically to hear from those concerned about boundaries. The dates for those meetings are in early November; well before any final decision is made in January (see link below). Allen Residents might have heard about a meeting on October 22 at City hall at 7pm. There will be an opportunity to voice opinion here, HOWEVER this is just a regular board meeting and the school boundaries are not even on the agenda (nor have ideas for the new boundaries even been proposed yet). So, it will be difficult to voice an opinion with no idea if/how the new boundaries will affect anyone. The advice given by Tim Carroll of Allen ISD's Public Information Office was that Allen Residents wait to see what new boundaries are being proposed before they get too upset. Bottom line: Many of our elementary schools are becoming overcrowded as Allen grows. New schools are being built, and school boundaries may change, but nobody knows yet which, or how many, homes will be affected by this. The committee proposing new boundaries will not even have new boundary recommendations until Oct. 25th. By the 30th, these recommendations will be posted online for all to see. After that, they will have public meetings for comment on the issue. Read all the details about the meetings, boundaries, and enrollment numbers here:
http://www.allenisd.org/web/Attendance-Boundaries/boundary-index.html
Below is an email from Tim Carroll with the Public Information Office of Allen ISD. He was very nice and said that all residents should feel free to call him with questions. PLEASE DO NOT TAKE ANY FRUSTRATIONS OUT ON HIM. He is NOT on the committee making boundary decisions (he's just the messenger). The committee making the decisions can be reached at teamof8@allenisd.org and again, we cannot get too upset with anyone until we know what exactly they are proposing.

---from Tim Carroll with the Public Information Office of Allen ISD---

The Allen ISD Attendance Boundary Committee will complete its work on October 25 with recommendation(s) to adjust school boundaries beginning in 2008-2009. The committee's proposals will be posted at www.allenisd.org on October 30 and will then be presented at public hearings on November 1, 5, 12 and 13. Patrons are also welcome to submit comments by email to the teamof8@allenisd.org. The changes will be needed to help level out enrollments at high growth campuses and accommodate new elementary schools that will open in 2008 and 2009. Following the public hearings, a recommendation will be brought forward to the Board of Trustees for consideration. The Board will take public comment through December and is scheduled to take action on January 21. More information is available on the district website.

Tim Carroll, APR
Public Information Office
972-727-0510
FAX: 972-727-0500
Email: tim_carroll@allenisd.org
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If you have questions or info. to share on this topic, call Ryan Cave, The "Caveman" at 214-789-9366 or go here to contact me: http://ryancave.yourkwagent.com/atj/user/ContactUsGetAction.do

Comparing sales data from September of 2006 to September of 2007 shows that the number of sales for Collin County is down by 200 (that's a lot) and the average days on market is slightly up (this may continue to increase). Both of these are indicative of our current market with higher inventory (more homes for sale) and tougher mortgage requirements (i.e. even though rates are still great, fewer people can now qualify). The good news: while much of the country is also seeing sales prices slump, Collin County remains flat at an average of $92/sq.ft.

Properties Sold in Collin County Sept. 2006: 1145
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2495	3	2	0	$236,503	$229,651	$92	62

Properties Sold in Collin County Sept. 2007: 945
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sale Price	Price per Square Foot	Days on Market
Avg	2580	3	2	0	$246,379	$237,705	$92	67