Showing posts from June, 2015

Pilot Point Market Analysis

This week I had the pleasure of speaking at the Lake Ray Roberts Rotary Club meeting.  The Rotary Club serves the Pilot Point and Aubrey area around Lake Ray Roberts.  I spoke about real estate appraisals, what they are and what they are not. I then presented a local market analysis for Pilot Point, TX and I thought I would share here as well. 

The city of Pilot Point is a small community located approximately 55 miles north of the Dallas/ Fort Worth area.  The Pilot Point market has water influence of Lake Ray Roberts with Isle de Bois State Park located nearby.  The area has rich sandy soil which is desirable for horse ranches and equine facilities.  There are around 300 horse ranches in the area.  The city has a population of 4,006 per 2013 Census data.

Primary Year Sale Price, Median 2005 $125,000 2006 $128,603 2007 $147,500 2008 $120,000 2009 $121,250 2010 $120,000 2011 $138,750 2012 $130,000 2013 $110,000 2014 $135,000 2015 $130,950
The median sale price in Pilot Point ISD was $135,000 in 2014 which wa…

What You need to Know About Floods and Flood Insurance for Real Estate

We have just experienced the worst flooding in Texas that I have ever known.  I have lived in Texas my entire life and we have had floods but not at the level at which we have had this May.  I have never known four major cities: Dallas, Austin, Houston & San Antonio to all be experiencing flooding at the same time. More than 35 trillion gallons of rain has fallen in Texas in May! These floods are unprecedented.  We will live where are several roads and major highways currently closed due to flooding making egress in and out of places difficult.  Most tragic is that there have been 25 deaths in Texas related to the  May 2015 flooding.

When we appraise a property we will look up the FEMA flood determination of a property and provide a flood map within the appraisal report.  If a property is located in a flood zone then we report the flood map #, zone and date of the map.  If your property is located in a flood zone then most likely the lender will require flood insurance for the l…