Do Dallas Foreclosures Have an Effect on Plano Real Estate Values?

For those of us who live in the DFW Metroplex area we know that Plano is located just North of Dallas.  Many of us also know that these days real estate markets are hyper local with the values of homes in one neighborhood substantially different than homes in an immediate adjacent neighborhood.  Knowing this, do Dallas Foreclosures have an effect on Plano Real Estate? First of all I don’t want to give the impression that Dallas is a debilitated city full of foreclosed properties because nothing is further from the truth.  There are dozens and dozens of sought after neighborhoods in Dallas where real estate values are strong and getting even stronger.  New construction and the revitalization of the down town area are proof that Dallas is on the cusp of a population boom.

With all of that said there is still a ton of pre-foreclosures, foreclosures and short sales throughout the Metroplex that will have a negative effect on real estate prices in both Dallas and Plano.  The City of Plano has had a resilient home market in spite of some of the Dallas neighborhoods we discussed and certain areas around the Metroplex where the distressed property market is high and property values are going from low to lower.  It all comes back to what I said earlier about real estate markets being hyper local, meaning that Dallas foreclosures will not have a negative effect on Plano real estate values.