Real Estate Market Update for DFW

Buyers & Sellers Rank Home Sales Companies

2009-08-03T13:11:00.004-05:00

A new consumer poll asked sellers and buyers to rank national residential sales companies, and Keller Williams was one of two of the sellers’ top choices. J.D. Power and Associates surveyed home sellers about customer satisfaction.

The report issued on Thursday, July 30th said Buyers ranked Keller Williams higher than any other real estate firm. Keller Williams has a big sales presence in the Dallas-Fort Worth area. J.D. Power measured customer satisfaction by asking about experience with the individual agent, the company’s office and additional services provided.

“For both buyers and sellers, the agent is still the most important driver of overall satisfaction,” the researchers found. “However, the importance of agents has declined substantially from 2008, while the importance of additional services has increased considerably.”

J.D. Power’s research also found that more than half of homebuyers are now first-timers. Government tax incentives and falling prices have lured many of these people into the market.

"The presence of more first-time buyers is encouraging, as it indicates that the real estate market is returning to more normal activity, with fewer speculators," said Jim Howland, senior director of the real estate and construction practice at J.D. Power and Associates.

The study showed that 64 percent of sellers used the Internet to market their homes. And, the number of open houses at properties is down from an average of 4.5 showings in 2008 to 3.2 this year.

The rankings did not include large local or regional real estate companies which dominate the market in some cities.

SOURCE: J.D. Power and Associates and
Steve Brown, The Dallas Morning News

Changes to Regulation Z

2009-07-30T15:44:00.003-05:00

Starting today, July 30th, certain disclosures have to be provided to borrowers within three business days when an application is taken.

This affects all types of loans offered in all 50 states.

The closing cannot be scheduled until at least 7 business days after initial disclosures have been sent out. Saturday is considered a business day. No Federal holidays or Sundays are included.

The lender will need to re-disclose if there are any changes made to a loan program, terms and/or APR. If the APR increases or decreases by .125% on fixed loans and .250% on ARM, they will need to re-disclose.

If re-disclosed, borrower will need to wait three business days after they receive the re-disclose packet. Therefore, it will be three days to receive the packet and three additional days to wait. The only way the three day wait will be waived is if the lender hand carries the disclosures to the borrower.

Lenders cannot collect any fees upfront except for the appraisal fee for which a credit card authorization form will be provided and charged once the report is completed by the appraiser.

There will be no exceptions to the above effective July 30th.

Please call your lender if you have any questions or concerns regarding these changes.

www.TeamDowns.com

20 Ways to Waste Your Money

2009-07-27T15:57:00.003-05:00

There are many small things that you might be spending money on but hardly noticing. These small items can add up to big money. Once you determine these small items, you will keep more money in your pocket for savings, investing or break your cycle of living paycheck to paycheck.

See if any of these items sound familiar, and I hope you find them useful.

How you could be wasting your money

1. Buying new instead of used, ie: a new car.
2. Carrying a credit card balance with a high interest rate.
3. Buying on impulse.
4. Paying to use an ATM.
5. Dining out frequently.
6. Letting your money wallow in a savings or checking account.
7. Paying an upfront fee for a mutual fund.
8. Paying too much in taxes or investments.
9. Buying brand name vs. generic.
10. Wasting electricity.
11. Paying banking fees.
12. Buying things you do not use.
13. Owning an extra car.
14. Ignoring your local dollar store.
15. Keeping unhealthy habits.
16. Being complacent about insurance.
17. Giving Uncle Sam an interest free loan.
18. Paying for something you can get for free.
19. Not using a flexible spending account.
20. Paying for unnecessary services.

I read this article in detail today from Yahoo! sources. You can view the full article here by Erin Burt provided by Kiplinger.com.

Low Ball Appraisals Spark Uproar

2009-07-07T12:47:00.003-05:00

By Kenneth R. Harney
Saturday, July 4, 2009

It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house -- probably negatively -- by tens of thousands of dollars. The issue involves lowballed appraisals and the new rules guiding appraisers in both price-depressed and rebounding markets.

Consider these snapshots: In San Diego, Steve Doyle, division president for Brookfield Homes is trying to close out the final 20 houses of a 120-unit single-family subdivision. Prices range from $340,000 to $350,000. But recently there's been a major hitch: Appraisers assigned by banks are coming in with valuations of $60,000 or more under Doyle's selling prices. The appraisers, who Doyle says are inexperienced, unfamiliar with local market trends or both, are using distressed sales -- foreclosures and short sales of existing houses -- as their "comparables." Some of the distressed properties are in poor condition, and all of them offer fewer amenities, Doyle says.

In Wilmington, N.C., a loan applicant with a house in excellent condition and an unblemished payment record sought to refinance into a 4.75 percent mortgage. She bought the property four years ago for $160,000 and made about $20,000 worth of improvements. Her loan application, according to Paul Skeens, president of Colonial Mortgage Group of Waldorf, was "a slam dunk -- nothing to it." The house was worth $180,000 to $200,000, according to a local realty estimate. But when the bank sent in an appraiser with little local knowledge, he chose as comparables two short-sale properties that had both closed in the mid-$140,000 range and one inheritance sale around $155,000. The last property was "in horrible condition," Skeens said. "I'd call it dog meat." The deal-paralyzing appraised value that came in for the slam-dunk refi: $149,000.

In the suburbs near Cleveland, Enzo Perfetto, manager of Enzoco Homes, builds custom houses on clients' lots. Recently, he said, banks have begun assigning appraisers from far outside the area to value lots as part of mortgage packages on new homes. Some of the comparables they use are in foreclosure situations, and that depresses land valuations. A young couple who paid $75,000 for their lot recently had it valued at just $30,000 by an out-of-area appraiser who looked only at online data, according to Perfetto -- discouraging the couple from proceeding. "I think the pendulum is swinging way too far in the wrong direction on appraisals," Perfetto said.

Bank-assigned appraisers often "don't know the local market and they're going for low numbers to be 'safe.' " * * * Complaints about lowballed appraisals -- from builders, real estate agents, consumers and mortgage companies -- have erupted since May 1, when government-backed Fannie Mae and Freddie Mac put their new appraisal rules into effect nationwide. Critics charge that the new system fosters the use of appraisers willing to work for low fees -- sometimes 50 percent below previous standards -- and who are willing to conduct home appraisals far outside their typical areas of activity. The Fannie-Freddie system -- known as the Home Valuation Code of Conduct -- is complicated by the fact that it is a byproduct of a legal settlement in 2008 between New York Attorney General Andrew M. Cuomo and the two big mortgage investors.

Under the code, appraisers are now routinely assigned by appraisal management companies rather than local mortgage companies or loan officers. The management companies pocket as much as 40 percent to 50 percent of the appraisal fee paid by the consumer. Frustration with the new system boiled over and made its way to Capitol Hill late last month. The National Association of Home Builders called for an immediate change in the rules governing the use of foreclosures, short sales and other distress transactions as comparables for appraisals on non-distressed homes, whether new or resale. Two congressmen -- Travis W. Childers (D-Miss.) and Gary G. Miller (R-Calif.) -- have introduced legislation calling for an 18-month moratorium on the appraisal code. In identical letters to Cuomo and to James B. Lockhart III, the top regulator of Fannie Mae and Freddie Mac, the National Association of Realtors also requested a moratorium and complained that the code is raising consumer costs, distorting property values and killing sales. Asked for comment, Lockhart said through a spokesperson that his agency is "monitoring" the situation, and considers "the views of market participants important."

Bottom line: Be aware of the issue. It affects your equity, even if you're not currently buying or selling. And watch whether Congress fixes the problem.

This is also happening in Texas.

New Record Level Set for D/FW Home Foreclosure Postings

2009-07-01T11:58:00.000-05:00

6,072 residential postings filed for July auctions.35,121 residential postings recorded so far this year.

JULY FORECLOSURE POSTINGS
Mr. Roddy stated, "Monthly residential foreclosure posting activity has topped 6,000 for the first time in this foreclosure cycle in the Dallas/Fort Worth Metro."
He continued, "For the upcoming foreclosure auctions to be held on July 7th, 66,072 postings have been filed on homes located in the four-county D/FW Metro, which was 62% surge over the 3,747 notices filed on area homes for the July auctions of last year.
Mr. Roddy stated, "For the last 10 consecutive months, residential foreclosure posting activity has resided on the high-end of this foreclosure cycle with monthly postings exceeding 4,000 notices per month in the D/FW Metro. And, for the past 4 month in a row, home postings have consistently been above 5,000 per month. Now, for the first time in this foreclosure cycle and most likely the first time on record, D/FW home postings have skyrocketed above the 6,000 mark.

What does this mean for the market? A lot of competition and a great time to buy a home at a great price!! Call me for more details.

Buyer Power: First Timers Fuel Increase in Sales

2009-05-11T17:30:00.000-05:00

Did you know:

First-time homebuyers account for 53 percent of all transactions?
Pending home sales increased for the second month in a row due to near record housing affordability and all-time-low interest rates?
The median mortgage payment now consumes 15 percent of family income in comparison to 22 percent of income two years ago?

Last week, the National Association of REALTORS® reported that the Pending Home Sales Index, a forward looking indicator based on contracts signed in March, was on the rise – up 3.2 percent to 84.6 from a level of 82 in February. What’s causing the current upswing? NAR Chief Economist, Lawrence Yun, says that the increase in the number of first-time homebuyers taking advantage of the $8,000 tax credit, historically low interest rates, and general housing affordability has been crucial in the initial turn around in overall sales.

Those numbers are in line with another statistic NAR produced earlier this year: 53.5 percent of home buyers in 2009 will be first timers.

Want to take advantage of this great opportunity, give us a call for a free consultation at 972.468.5136.

More Benefits of the Home Buyer Tax Credit

2009-04-13T12:47:00.001-05:00

Need further proof that now is a great time to buy? On top of the new $8,000 tax credit for first-time homebuyers, the following article illustrates the tax benefits buyers stand to gain if they take advantage of the current market opportunities.

The Tax Benefits of Homeownership
By Robert D. Dietz, Ph.D.

There are three major tax benefits for homeowners: deductibility of mortgage interest, deductibility of real estate taxes, and the capital gain tax exclusion for principal residences. Taken together, these benefits significantly reduce the cost of homeownership. Read the article here.

Texas Housing Market Update

2009-02-27T16:55:00.000-06:00

FIVE TEXAS CITIES NAMED HEALTHIEST HOUSING MARKETS IN TEXAS (Builder) - Five Texas cities swept the top spots on Builder magazine's list of "Healthiest Housing Markets for 2009. "Houston ranked first, Austin second, Fort Worth third, San Antonio fourth and Dallas fifth. Rounding out the top ten were Raleigh, N.C., Seattle, Indianapolis, Ind., Fayetteville, Ark., and Washington D.C.

To compile the list, "Builder" analyzed the top 75 housing markets in the country, ranking them based on population trends and job growth, perennial drivers of housing demand. They also looked at home prices and the number of building permits.

NEW LAW TO HELP HOUSING MARKET, CREATE GREEN JOBS IN WASHINGTON (Texas Association of Realtors, National Association of Realtors, U.S. Environmental Protection Agency) - President Obama earlier this week signed the American Recovery and Reinvestment Act, which contains provisions intended to help the housing market and create jobs that benefit the environment.

Among the housing provisions: An $8,000 tax credit for first-time homebuyers who purchase a principal residence between Jan. 1, 2009, and Dec. 1, 2009. The credit does not require repayment. Reinstatement of last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans.

$2 billion in additional funding for the Neighborhood Stabilization Program, which provides grants to states and localities to address problems that can be created when whole neighborhoods are decimated by foreclosures.

The law also includes $7.22 billion for projects and programs that will protect and promote both green jobs and a healthier environment. These environmental areas include: $4 billion to assist communities with water quality and wastewater infrastructure needs and $2 billion for drinking water infrastructure needs. A portion of the funding will be targeted toward green infrastructure, water and energy efficiency, and environmentally innovative projects.

$100 million for competitive grants to evaluate and clean up former industrial and commercial sites.

OBAMA UNVEILS PLAN TO HELP HOMEOWNERSWASHINGTON (Texas Association of Realtors) - The Homeowner Affordability and Stability Plan, introduced this week by President Obama, is intended to help seven million to nine million families avoid foreclosure by restructuring or refinancing their mortgages.

The plan includes three main elements: Government-sponsored enterprise refinancing for responsible homeowners suffering from falling home prices; Three-year $75 billion initiative to reduce monthly payments for three million to four million at-risk homeowners; and Support for low mortgage rates through strengthening confidence in Fannie Mae and Freddie Mac.

HIGHEST HOME APPRECIATION IN TEXAS (First American CoreLogic) - Texas continues its trend of weathering the recession better than most other states. The state's major metros top the nation in home price appreciation over the last year. Austin-Round Rock leads the country's largest core-based statistical areas (CBSA) in home price appreciation with a 3.7 percent increase in 2008, according to First American CoreLogic. Houston-Sugar Land-Baytown experienced a price appreciation of 3.3 percent over the last year, putting it right behind Austin-Round Rock. Dallas-Plano-Irving homes appreciated 1.92 percent and San Antonio's homes 0.17 percent, putting them third and fourth in the nation. Only one other major CBSA, Denver-Aurora, Colo., showed an increase in home price, according to CoreLogic.

Of the 958 smaller communities the study observed, College Station-Bryan experienced the sixth highest home price appreciation, with an increase of 6.78 percent. Overall, Texas homes saw an appreciation of 1.83 percent in 2008, putting the Lone Star State sixth among all state rankings.

New Stimulus Package Proposes Tax Credit for Home Buyers

2009-02-10T10:18:00.001-06:00

Last week, the Senate verbally approved the Fix Housing First Act, an important amendment to their version of the Economic Stimulus Bill. The piece of legislation and the Stimulus Bill are still awaiting Senate and House negotiations, but could provide all home buyers of primary residences over the next year with a tax credit of $15,000 or 10 percent of the cost of the home, whichever is less. The credit will not need to be repaid unless the home is sold within two years of purchase. This Senate's version of the tax credit, if implemented, will replace, or “sunset” the current $7,500 credit. Should the legislation become a law, it will act as a major incentive for home buyers and, coupled with several years of pricing corrections could boost the number of home sales around the country. Until then, get free information on the current $7,500 tax credit for first-time home buyers.

Dallas Market Update

2009-01-29T15:55:00.000-06:00

I was so glad to finally hear positive news not only on the national real estate market, but our local market in Dallas. In December 2008, preowned home sales were up 8% nationally and double that in the Metroplex. We have seen a significant increase in showings on our listings and inquiries from our marketing since the beginning of the year.

Dave Ramsey was featured on Fox 4 this morning predicting that it would only get better, and he expected a full turn around in the market as early as fall 2009 for the Dallas area.

I have been asked by several people to post my feature on ABC Nightline on my blog. Click here to view the clip.

As always, call or visit us on our website for all your real estate needs.

As we start 2009 . . .

2009-01-01T09:44:00.000-06:00

Interest rates are lower than they have been in over 30 years, crime in DFW is the lowest since 1967, the $7500 tax credit is still available and there are many areas accepting USDA zero down loans. This is all great news as we sit in the greatest housing market in the U.S., Dallas, Texas.

During the next few months, many people will be relocating to the Dallas area to take advantage of all of these options. With that in mind, it is a great time to sell your current home and move up.

If we can stop the negative media in 2009 and move forward as if this will be the best year ever in all aspects, we, as the people, can change the economy in the U.S.

With that in mind, Happy New Year!!

Interest Rates at All Time Low

2008-12-19T13:19:00.000-06:00

Interest rates are at their lowest since the 1960s and home prices in some areas are at 2003-2004 levels. Add to that recent declines in energy and gas prices and lower consumer interest rates, and you have a great holiday recipe.

If you are considering moving up or buying your dream home, now is the time to make a move and trade in your equity. It is also a good idea to turn your current home into a rental or buy an investment property.

The market is great!!

How I Would Change the Economy

2008-12-10T15:10:00.001-06:00

If I had a say in fixing our current economy, I would first take all the homeowners that were going into foreclosure and move the amount owed to the back of the loan. Then, I would give them a 90 day break from making further payments. They are not going to make the payments for the next 90 days anyways nor will a closing take place to give the bank any additional money. At the end of the 90 days, they would begin making the payment based on current interest rates with a good credit rating to give them a fresh start. If they can not get it right after these changes, then foreclose on the property with a short notice.

The banks are getting bailed out to cover these changes. Let's help the people that need the result of the bailout, so we can get the economy moving again.

Also note, that the media is the main cause of the economy issues in the Dallas market. So, keep moving forward with buying, so we can keep our local economy strong.

Why Buy Today in Dallas?

2008-11-25T20:57:00.000-06:00

As you may or may not know the Federal Reserve has announced an $800 Billion dollar plan to jump start lending! Specifically to purchase $500 billion in mortgage backed securities --- but what does this really mean to your borrowers ---- well take a look at today’s rates!!!! We have a great formula for success LOW RATES + LOW PRICES + TAX CREDIT = GREAT REASONS TO BUY!!!
The Federal Reserve, the nation's central bank, announced it will purchase up to $500 billion in mortgage backed securities that have been backed by Fannie Mae (FNM, Fortune 500), Freddie Mac (FRE, Fortune 500) and Ginnie Mae, the three government-sponsored mortgage finance firms set up to promote home ownership. It will also buy another $100 billion in direct debt issued by those firms.
"This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved conditions in financial markets more generally," said the statement from the Fed.
CNNMoney.com
Entire Article Can Be Read Here
http://money.cnn.com/2008/11/25/news/economy/paulson_consumer/?postversion=2008112512

How can we keep the economy in Dallas strong?

2008-11-12T13:16:00.001-06:00

I have talked to a lot of homeowners the last couple of weeks in the Dallas suburbs, and they all seem to think they cannot sell their homes right now. This is incorrect. There are a lot of homes on the market, no doubt, but 90% or more are foreclosures or short sales.

When a buyer makes an offer on a short sale or foreclosure, they sometimes have to wait 30, 60, even 90 days for a response to their offer. There are more buyers that would rather move in 30 days than wait around for a bank to tell them if they can even make the purchase work.

It is frustrating for all parties involved. Be aware that the Dallas real estate market needs more listings that are straight sales to avoid the long wait for closing. This is the time that many employees relocate, and many are coming to the Dallas area. If you want to sell you home, now is the time. Inventory is down for these homes, and if you are moving up, it could not be a better time to buy and trade in your equity for your dream home.

Ask me about our 39 Day or It's Free Guarantee, and go buy something!

Will The Dallas Market Stay Unchanged?

2008-10-24T14:55:00.000-05:00

While many are skeptical after several economic factors influenced our nation this week, our market seems to remain the best in the U.S. Are we next? If everyone around us starts believing that they cannot buy or sell a property, the answer is "yes". If everyone stops buying and selling, we will go into a recession that is currently felt by 27 of the 50 states.

In an article released today, click here, we may be headed for another interest rate cut after being told it would not go any lower. This is more reason than ever to buy your dream home, second home, investment property, etc. Take advantage of this market for this reason. You may lose some equity on your current home, but you will more than likely reap the rewards of great equity in your purchase while building future wealth. To learn more about the market and how to take advantage of this opportunity, contact me at 972.468.5136 or visit our website.

Good News for Dallas Real Estate

2008-10-17T18:33:00.000-05:00

Forbes released an article this week with great news for not only Dallas, but several popular Texas cities. Click here for more details on how Dallas ranks in the top 10 best markets in the U.S. While the number of available homes continues to drop, our Buyer calls and showings are on the rise from previous months. There is approximately a six month supply of available homes now, down from a twelve plus month supply a few months ago.

While the media and stock markets remain on shaky ground, you can rest assured that making a purchase now in Texas is a good move. Not only is it a great time for investing in real estate, but a great time to purchase your dream home at an affordable price.

As always, go to our website for all your real estate needs.

Statistics Are In For North Texas Real Estate

2008-10-10T16:18:00.000-05:00

Just posted by North Texas Real Estate Information Systems:

Single family home sales are up 2%, sales volume is up 1% from this time last year with no change to the average price range of $193,156
The days on the market for a median price range single family home is up 7%, condos and townhomes are up 27% and farms and ranches are up 29% from this time last year
At the end of September, there was an average of approximately four months of inventory available on homes under $100K that consisted of 25.7% of the inventory of single family homes
At the same time, there was an average of approximately five months of inventory available on homes between $100K and $150K that consisted of 28% of the inventory of single family homes
There was an average of six months of inventory available on homes between $150K and $200K that consisted of 18.3% of the inventory
There was an average of seven months of inventory available on homes between $200K and $300K that consisted of 15.4% of the inventory
There was an average of nine months of inventory available on homes between $300K and $500K that consisted of 8.4% of the inventory
There was an average of 15.4 months of inventory available on homes from $500K to $1M that consisted of 3.3% of the market
On homes over $1M there is a 20 month supply of homes available that consists of 1% of the current market
For more statistics and understanding of our market, please call me at 972.468.5136 or email me at amydownsrealtor@yahoo.com

This is great news, and we are so lucky to be in North Texas. If we can be of assistance to you or anyone you know in the market to buy or sell real estate anywhere in the world, please give us a call or email. You can also visit our website at www.TeamDowns.com.

Great News for North Texas

2008-10-03T16:06:00.000-05:00

In an article released from the Dallas Morning News this week, we finally see some positive news for our local real estate market, click here to read the article. The media weighs heavily on everyone that spends money on gas, real estate, clothing, etc. While our media shows negative signs of the economy and housing market, we are fortunate that the Dallas real estate market is very strong compared to the majority of the United States.

If you would like to keep an eye on your market area, we have created a "market snapshot" link for you to see the market data, community and school information for your area. You can also visit our website at www.TeamDowns.com and click the "My Market Snapshot" button on the left side of the home page.

End of August YTD Market Stats Are Available

2008-09-18T14:35:00.000-05:00

Click on the city to view a current market update for areas located within the Dallas real estate market: Wylie ISD, Mesquite, Richardson, Rockwall County, McKinney, Plano ISD, Rowlett-Sachse, Lavon-Nevada, Farmersville, Garland, Fairview-Lucas, Frisco, Dallas-White Rock area, Dallas-North, Dallas-Northeast, Carrollton-Farmers Branch and Allen. Please check back around the middle of each month to get the latest forecast from the Association of Realtors via North Texas Real Estate Information Systems.

If you would like to have a market snapshot of your home e-mailed to you, please request via e-mail at amydowns@kw.com. Once this link is sent to you, it will be updated daily and accessible any time. As always, visit our website at www.TeamDowns.com for all of your real estate needs.

The Second Home Market

2008-09-11T09:29:00.001-05:00

The second home market is booming in the United States and globally. In the U.S. alone, there are ten of the most popular locations for second home buyers. While outside the U.S., some of the top ten second home destinations are Mexcio, England, France, Italy, Caribbean, Spain, Portugal and Western Europe. As an international real estate specialist, we have the ability to represent our clients with purchases and listings all over the world. If you have considered moving out of the Dallas area, know someone that will be, or if you or someone you know is interested in buying a second home, we would love to help them. For more information, call us at 972.468.5136.

Why Should You Stage Your Home?

2008-09-02T13:51:00.000-05:00

According to a recent study from the National Association of Realtors, staged homes sell for 6.3% more money than unstaged homes and in half the time. A Buyer's market is a stager's market. The top seven items, in order, that Buyers look at first when viewing homes are curb appeal, the entry way, the kitchen, the Master bedroom and bath, Family room, secondary bedrooms and the backyard. A good formula for staging is to use plantings, paintings, pictures, fixtures and furnishings. If you follow this simple strategy and checklist, you are on the right path to successful staging. To learn more about the Dallas real estate market, visit our website.

July YTD Stats for Dallas Real Estate

2008-08-21T14:40:00.000-05:00

The statistics have been updated from NTREIS and by clicking on each city you can see where the Dallas real estate market stands at the end of July: Allen, North Dallas, Dallas-White Rock Lake Area, Garland, Lavon-Nevada, McKinney, Northeast Dallas, Plano, Frisco, Richardson, Rockwall, Rowlett-Sachse and Wylie.

Our team will be attending Mega Agent next week to learn more about the shifting market, and how we can better service our clients during this time. If you have any questions about real estate, please use our website as your real estate resource.

Now is the Time to Buy a Second Home

2008-08-15T12:04:00.000-05:00

Whether you live in the Dallas real estate market or Detroit, now is a great time to buy a second home. See this article to see how foreclosed homes are selling as low as $1. If you have considered buying an investment property, vacation home or a lake home for weekend getaways, give us a call to get a free list of homes that would meet your ideal second home purchase. Visit our website for up to the minute listings in your area of interest, the latest foreclosures that are available and articles about real estate in general.

$7500 Tax Credit for Buyers

2008-08-07T10:05:00.000-05:00

This just in . . . click here to see if you qualify for the $7500 tax credit for purchasing a home. This is great news for the Dallas real estate market. This will help Buyers understand that not only will they get a great deal on a home right now, they may be able to get a large return on their investment. If you are considering purchasing a home, please give us a call to learn more about what our team has to offer you as a Buyer in Dallas and surrounding areas. We service Dallas, Collin and Rockwall counties. As an extra incentive for using our team to buy, you will get a cruise for two to the Bahamas if you close on a home with our team (special restrictions apply).

Dallas Real Estate Update

2008-08-05T15:02:00.000-05:00

The Dallas home buyer market consists mainly of foreclosures, homes with structural problems, older homes that haven't been updated and homes that are overpriced to market value. There is a very small amount of inventory that includes foreclosures in good condition, newer homes in excellent condition, updated homes and homes that are priced at or below market. The current buyer market consists of buyers that are relocating to the area, have recently sold their homes and first time home buyers, while the small percentage of home buyers are investors looking for rental property, investors flipping homes and cash buyers willing to update. With that in mind, our team of experts has created a knowledge of the area and types of buyers to find the best homes to suit their individual needs while creating top notch marketing plans for those who want to sell and earn a higher return on their investment in the Dallas real estate market.

July Proven to be a Great Time to Sell

2008-08-01T09:14:00.001-05:00

As we closed out the end of July with less volume than May, which has been the best month of the year for our team, the market showed signs of stability. We sold seven of our listings that are scheduled to close in August and first of September, and it seems that the Dallas real estate market is getting better every day. Our agents are staying busy with showings and new Buyers looking to make a purchase in the next 30 - 90 days. If you are in the market to buy or sell a home, call the team that gets results, Team Downs. We would love to show you what we have to offer.

Housing Bill Passed

2008-07-29T14:20:00.000-05:00

Good news for the Dallas real estate market. The following link provides the highlights of the Housing Bill that just passed through Congress. This could have a real effect on some of our distressed home owners, click here for more details. As always, use our website at http://www.teamdowns.com/ as your real estate resource.

7.28.08 Dallas Real Estate Market Opinion

2008-07-27T16:07:00.000-05:00

July has proven to be a little slower than the last twelve years of my real estate journey. While our team sold several listings under $150K in July, we increased our Buyer inventory for purchases in the next 3 - 9 months significantly. We are finding that most Buyers are waiting for some positive news regarding the economy, although North Texas is rated as one of the "best places to live" in the U. S. If you want to stay up to date with Dallas and surrounding area real estate, use our website www.TeamDowns.com as your local real estate resource. Our team services Dallas, Collin, Rockwall and Hunt counties.