Showing posts from May, 2015

Collin County Market Analysis

Collin County is north of Dallas County. Per 2010 US Census data, Collin County population was at 782,341.  It is the 7th most populous county in the state of Texas.    According to the official Collin County website,  " In the mid-2014, the Census Bureau estimated our population at 885,241.  Eight of the 10 fastest-growing cities in North Texas are in Collin County, with rates averaging more than 250 percent. "    
Some of the cities located in Collin County include:  McKinney, (the county seat), Plano, Allen, Frisco, Fairview,Wylie, Murphy, Prosper and Celina.  
Here is a look at what the Collin County Market has been doing the past 10 years: 

The Median Sale Price for Collin County has increased 23.07% from 2012 to 2014.  The current median sale price for Collin County is at $255,000.  

The number of sales each year in Collin County has increased since 2013, with 2014 being the highest number of sales. The current number of sales for 2015 is currently not on pace with las…

Why is it Taking So Long to Get the Appraisal Back?

When will we get the appraisal?
This is a common question we real estate appraisers get and we understand the urgency.  We are aware of the deadlines for closings and understand that a delayed appraisal slows down the process. Trust me, we appraisers want to get the appraisal turned around and back to you as soon as we can.  If we can perform more appraisals in a shorter time then our business would be more profitable.  That being said, there are reasons that appraisals get delayed or take longer than anyone would like.  I would like to share a few of them.

Time for Research and Analysis:  The appraisal process is not just finding three comparable sales in the neighborhood and giving a value. The appraisal process involves researching about the property, researching comparable sales, inspecting, analysis and composition.  It takes time to research tax information, MLS data, Zoning Information  for the subject and select available comparable sales. For a quality report it takes time fo…