Interest Rates at All Time Low

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

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?

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?

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?

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

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

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

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

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

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?

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

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

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

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

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

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

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

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.