Call me today for your private viewing of this home. Priced to sell quickly! 972-254-2011
Showing posts with label acreage. Show all posts
Showing posts with label acreage. Show all posts
Tuesday, April 19, 2011
1439 Snowberry, Allen, Texas
Call me today for your private viewing of this home. Priced to sell quickly! 972-254-2011
Monday, August 10, 2009
Monday, December 15, 2008
DFW Home Sales Drop
Dallas-Fort Worth home sales drop 33%
11:42 PM CST on Tuesday, December 9, 2008
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Sales of pre-owned homes in North Texas dropped by a stunning 33 percent in November as worries about the national economy kept homebuyers on the sidelines.
The decline in local home sales from last year is the largest since records have been kept and is evidence that the national housing downturn is finally hitting Texas.
The median price of homes sold in North Texas was also down, by 7 percent – more than double the rate so far this year, according to statistics released Tuesday by Texas A&M University's Real Estate Center and North Texas Real Estate Information Systems Inc.
November's drop in home sales compared with last year was almost double the decline in October.
"Not just Realtors but also builders noted that November sales and traffic were extremely weak," said D'Ann Petersen, an economist with the Federal Reserve Bank of Dallas. "There were reports from builders that cancellations were outpacing closings, and some buyers were just walking away leaving deposits.
"With economic and financial worries at the forefront, buying a home is definitely one of the last things on consumers' minds at this point."
And homebuyers haven't been wooed to the market by lower interest rates and bargain pricing.
"A lot of buyers have been spooked by the downturn in the credit and equities markets and just don't have the confidence to close today," said Dallas-based housing analyst Ted Wilson of Residential Strategies Inc.
"Most builders say that the buyers are looking for some good news to give them confidence to purchase, only the news continues to be bad."
The dips keep coming
North Texas real estate agents sold just 4,146 pre-owned homes last month through the industry's Multiple Listing Service. That's the lowest monthly total in more than five years.
And last month's median home sales price of $133,900 is down 15 percent from the peak in the summer of 2007.
The decline in overall home prices is partly due to the large number of sales of foreclosed homes. The National Association of Realtors reports that in the third quarter, more than 40 percent of home sales nationwide were distressed properties.
Ms. Petersen said foreclosed home sales by lenders are also affecting the North Texas market and no doubt contributed to November's larger-than-expected price declines.
"It is unwelcome news for an industry that has been hurting for some time," she said. "Hopefully, though, we will not see the double-digit declines that have been recorded in some other areas of the country, where job losses are steep and foreclosure rates are much higher."
Through the first 11 months of 2008, real estate agents have sold just over 71,000 homes in the 26-county area, a decline of 14 percent from the same period of 2007.
The drop in condominium sales in November was even steeper than in the single-family market – down 44 percent.
On a positive note
The one bit of positive news in the latest local housing report is that there was a significant decline in the number of homes listed for sale.
A total of 39,255 single-family homes are on the market in North Texas. That's a decline of 14 percent from November 2007 and the lowest total in more than three years.
The average time it takes to sell a house was unchanged at 80 days.
Longtime Dallas real estate agent Barry Hoffer said the November sales drop reflects a slowdown that hit when the stock market began to drop in late September.
"Buyers have become apprehensive in making a decision to purchase a new home with the constant bombardment from the news media about layoffs, bailouts and impending bankruptcies," said Mr. Hoffer, who works with Ebby Halliday Realtors. "This too shall pass, and we look forward to an improving local housing market by spring."
Jim Fite, president of Dallas-based Century 21 Judge Fite Realtors, said home sales are traditionally slow before a presidential election, and this year there were added worries about the stock market and the economy.
"It's a really a perfect storm," he said. "Buyers are sitting on the fence."
There's talk in Washington about cutting mortgage rates, which could be holding homebuyers back while they wait for lower rates, he said.
And, Mr. Fite said, November's grim report shouldn't be taken out of context. "As we know, a single month does not make a market."
11:42 PM CST on Tuesday, December 9, 2008
By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
Sales of pre-owned homes in North Texas dropped by a stunning 33 percent in November as worries about the national economy kept homebuyers on the sidelines.
The decline in local home sales from last year is the largest since records have been kept and is evidence that the national housing downturn is finally hitting Texas.
The median price of homes sold in North Texas was also down, by 7 percent – more than double the rate so far this year, according to statistics released Tuesday by Texas A&M University's Real Estate Center and North Texas Real Estate Information Systems Inc.
November's drop in home sales compared with last year was almost double the decline in October.
"Not just Realtors but also builders noted that November sales and traffic were extremely weak," said D'Ann Petersen, an economist with the Federal Reserve Bank of Dallas. "There were reports from builders that cancellations were outpacing closings, and some buyers were just walking away leaving deposits.
"With economic and financial worries at the forefront, buying a home is definitely one of the last things on consumers' minds at this point."
And homebuyers haven't been wooed to the market by lower interest rates and bargain pricing.
"A lot of buyers have been spooked by the downturn in the credit and equities markets and just don't have the confidence to close today," said Dallas-based housing analyst Ted Wilson of Residential Strategies Inc.
"Most builders say that the buyers are looking for some good news to give them confidence to purchase, only the news continues to be bad."
The dips keep coming
North Texas real estate agents sold just 4,146 pre-owned homes last month through the industry's Multiple Listing Service. That's the lowest monthly total in more than five years.
And last month's median home sales price of $133,900 is down 15 percent from the peak in the summer of 2007.
The decline in overall home prices is partly due to the large number of sales of foreclosed homes. The National Association of Realtors reports that in the third quarter, more than 40 percent of home sales nationwide were distressed properties.
Ms. Petersen said foreclosed home sales by lenders are also affecting the North Texas market and no doubt contributed to November's larger-than-expected price declines.
"It is unwelcome news for an industry that has been hurting for some time," she said. "Hopefully, though, we will not see the double-digit declines that have been recorded in some other areas of the country, where job losses are steep and foreclosure rates are much higher."
Through the first 11 months of 2008, real estate agents have sold just over 71,000 homes in the 26-county area, a decline of 14 percent from the same period of 2007.
The drop in condominium sales in November was even steeper than in the single-family market – down 44 percent.
On a positive note
The one bit of positive news in the latest local housing report is that there was a significant decline in the number of homes listed for sale.
A total of 39,255 single-family homes are on the market in North Texas. That's a decline of 14 percent from November 2007 and the lowest total in more than three years.
The average time it takes to sell a house was unchanged at 80 days.
Longtime Dallas real estate agent Barry Hoffer said the November sales drop reflects a slowdown that hit when the stock market began to drop in late September.
"Buyers have become apprehensive in making a decision to purchase a new home with the constant bombardment from the news media about layoffs, bailouts and impending bankruptcies," said Mr. Hoffer, who works with Ebby Halliday Realtors. "This too shall pass, and we look forward to an improving local housing market by spring."
Jim Fite, president of Dallas-based Century 21 Judge Fite Realtors, said home sales are traditionally slow before a presidential election, and this year there were added worries about the stock market and the economy.
"It's a really a perfect storm," he said. "Buyers are sitting on the fence."
There's talk in Washington about cutting mortgage rates, which could be holding homebuyers back while they wait for lower rates, he said.
And, Mr. Fite said, November's grim report shouldn't be taken out of context. "As we know, a single month does not make a market."
Tuesday, September 16, 2008
Wednesday, July 23, 2008
Good day!
This has been a strong week for finding new buyers. Unfortnatley, I have talking to many vendors connected to the real estate business and many of them are struggling to make ends meet.
We continue to see a number of full time agents having to get part time jobs, title companies closing, lenders losing loan officers and inspectors getting out of the business.
Depending on who you talk to, the current real estate trends could take from 2 to 4 years to recover. It may not recover to the significance of before any time soon. The foreclosures are going to be affecting our market for at least the next 10 years.
Sellers need to continue to have patience when selling their home. It will sell if it is priced correctly and is in appropriate condition.
We continue to see a number of full time agents having to get part time jobs, title companies closing, lenders losing loan officers and inspectors getting out of the business.
Depending on who you talk to, the current real estate trends could take from 2 to 4 years to recover. It may not recover to the significance of before any time soon. The foreclosures are going to be affecting our market for at least the next 10 years.
Sellers need to continue to have patience when selling their home. It will sell if it is priced correctly and is in appropriate condition.
Wednesday, June 25, 2008
DFW ECONOMY
Its little wonder that Dallas-Fort Worth is such an inviting place to live and why so many families are attracted to the area. The local economy is booming, with affordable median home prices and job growth second only to New York. The Metroplex is currently ranked as the #1 growth market in the U.S.
The strength and stability of the local DFW economy is based in its diversity. The area is home to a wide range of industries, from transportation, technology, trade, aviation, oil and gas and advanced services, providing startup and relocating companies with a favorable business environment where they can flourish and prosper
The strength and stability of the local DFW economy is based in its diversity. The area is home to a wide range of industries, from transportation, technology, trade, aviation, oil and gas and advanced services, providing startup and relocating companies with a favorable business environment where they can flourish and prosper
Thursday, June 19, 2008
Precarious pricing
If you follow the trends these days, you just might follow them into a ditch. It’s been said time and time again, but it’s constantly discussed, and for good reason. Pricing a home too high in a lulling (or falling) economy is quite simply counterproductive for all parties involved. The seller can’t seem to sell their home. The buyer can’t find a home within their parameters. And the real estate agents involved might not even make a commission. So no matter who you are in this equation, try to combine your optimism with realism and price your home accordingly.
Monday, June 9, 2008
High cost of gas
Could we actually be facing $5 a gallon for gas as a national average? This tremendous increase in fuel is spurring what I call "fuel driven regentrification". What does that mean?
People are moving back into the city. Areas that were dead even 2 years ago are experiencing a tremendous surge in popularity among todays buyers. The suburbs are definatley out right now. Cities like Irving, Farmers Branch, Garland, Richardson are seeing tremendous amounts of interst from todays buyers. The suburbs are saved only by the telecomuter and those that have their employers based in the suburbs.
Interesting times for sure.
People are moving back into the city. Areas that were dead even 2 years ago are experiencing a tremendous surge in popularity among todays buyers. The suburbs are definatley out right now. Cities like Irving, Farmers Branch, Garland, Richardson are seeing tremendous amounts of interst from todays buyers. The suburbs are saved only by the telecomuter and those that have their employers based in the suburbs.
Interesting times for sure.
Monday, June 2, 2008
DFW Builders feel sting of housing slump
By BRENDAN M. CASE / The Dallas Morning News bcase@dallasnews.com
North Texas may not be bearing the brunt of the national housing bust, but some local businesses are feeling the pain.
Several local homebuilders have gone out of business. Others are scaling back their operations, cutting jobs as revenue and profit fall.
Also Online
"The builders have really ratcheted back the size of their organizations," said Ted Wilson, an analyst with Residential Strategies Inc., a Dallas-based research and consulting firm. "Most of the builders I've talked to have reduced their overhead by 30 percent to 50 percent."
Even some local manufacturers are taking a hit. Window maker Silver Line Building Products LLC, a unit of Minnesota-based Andersen Co., recently said it would have to cut 250 job cuts at its Garland plant.
The cause was falling national demand for the company's windows, said Maureen McDonough, a spokeswoman for Andersen. Housing starts have fallen more than 50 percent nationally since their 2005 peak, according to the U.S. Census Bureau.
"We've scrubbed our budgets for three years, and we've done a number of voluntary programs to reduce labor costs," Ms. McDonough said. "Unfortunately, we had to have involuntary reductions now."
Of course, the housing bust is not taking the same kind of toll in Texas as it is in the epicenters of the downturn, such as California and Florida.
Those states have lost more than 80,000 construction jobs apiece since December 2006, according to the U.S. Department of Labor.
Texas, with a milder housing downturn and robust nonresidential construction, has actually added more than 23,000 construction jobs since the end of 2006.
Still, the national trouble has clearly led to a significant slowdown in the local housing market.
Builders started 5,218 homes in the Dallas-Fort Worth area during the first three months of 2008. The total was less than half the 13,731 homes that builders started at the market's peak in the second quarter of 2006, according to data compiled by Metrostudy, a research and consulting firm for the housing industry.
Cutting inventory
"Really what the story is, for the last year or so, builders have been focused on reducing inventory," said David Brown, director of Metrostudy's Dallas office.
Buyers closed on just 7,036 new homes from January to March this year, compared with 12,518 closings at the peak in the third quarter of 2006, according to Metrostudy's figures.
It's harder for would-be homeowners to obtain mortgages because of the global credit crunch. The North Texas job market remains healthier than the national average, but the growth rate has been slowing. And with the U.S. economy hitting the brakes, fewer people want to buy a new house.
"Consumers are not real confident, so they're not quick to make a purchase decision on something this major in this kind of environment," Mr. Brown said.
Companies crumble
The deteriorating North Texas housing market has taken down several local companies with it.
Local homebuilders, including Goff Homes and Colonnade Homes, are no longer marketing houses, and their telephones have been disconnected.
Last month, Arlington-based Steelman Homes LLC, a property management company, filed for Chapter 7 bankruptcy, which provides for liquidation. Richardson-based homebuilder P.B. Building Inc. also filed for Chapter 7.
"A lot of homebuilders have been caught with tighter profit margins and the inability to sell a lot of properties," said Patrick Neligan, a lawyer whose firm is representing P.B. Building. "That kind of double whammy can be seen throughout the housing industry."
Frisco-based Greystone Custom Homebuilders Ltd. filed to reorganize under Chapter 11 bankruptcy.
Carrollton-based Buescher Interests LP entered Chapter 7 bankruptcy in February, but it later switched to Chapter 11. A lawyer for the company did not return telephone calls seeking comment.
Buescher left empty lots and unfinished homes when it went out of business.
Some of the properties were in Craig Ranch, a 2,500-acre master-planned project in Collin County. The development reacquired the properties, said David Craig, Craig International's chairman and chief executive.
Other Buescher homes were in a nearby development called Panther Creek Estates. All told, Buescher left about 70 properties in Frisco, most of them vacant lots, said John Lettelleir, the city's director of planning and development services. The city has been cutting the weeds.
"We just did that earlier this month on the Buescher lots," he said.
North Texas may not be bearing the brunt of the national housing bust, but some local businesses are feeling the pain.
Several local homebuilders have gone out of business. Others are scaling back their operations, cutting jobs as revenue and profit fall.
Also Online
"The builders have really ratcheted back the size of their organizations," said Ted Wilson, an analyst with Residential Strategies Inc., a Dallas-based research and consulting firm. "Most of the builders I've talked to have reduced their overhead by 30 percent to 50 percent."
Even some local manufacturers are taking a hit. Window maker Silver Line Building Products LLC, a unit of Minnesota-based Andersen Co., recently said it would have to cut 250 job cuts at its Garland plant.
The cause was falling national demand for the company's windows, said Maureen McDonough, a spokeswoman for Andersen. Housing starts have fallen more than 50 percent nationally since their 2005 peak, according to the U.S. Census Bureau.
"We've scrubbed our budgets for three years, and we've done a number of voluntary programs to reduce labor costs," Ms. McDonough said. "Unfortunately, we had to have involuntary reductions now."
Of course, the housing bust is not taking the same kind of toll in Texas as it is in the epicenters of the downturn, such as California and Florida.
Those states have lost more than 80,000 construction jobs apiece since December 2006, according to the U.S. Department of Labor.
Texas, with a milder housing downturn and robust nonresidential construction, has actually added more than 23,000 construction jobs since the end of 2006.
Still, the national trouble has clearly led to a significant slowdown in the local housing market.
Builders started 5,218 homes in the Dallas-Fort Worth area during the first three months of 2008. The total was less than half the 13,731 homes that builders started at the market's peak in the second quarter of 2006, according to data compiled by Metrostudy, a research and consulting firm for the housing industry.
Cutting inventory
"Really what the story is, for the last year or so, builders have been focused on reducing inventory," said David Brown, director of Metrostudy's Dallas office.
Buyers closed on just 7,036 new homes from January to March this year, compared with 12,518 closings at the peak in the third quarter of 2006, according to Metrostudy's figures.
It's harder for would-be homeowners to obtain mortgages because of the global credit crunch. The North Texas job market remains healthier than the national average, but the growth rate has been slowing. And with the U.S. economy hitting the brakes, fewer people want to buy a new house.
"Consumers are not real confident, so they're not quick to make a purchase decision on something this major in this kind of environment," Mr. Brown said.
Companies crumble
The deteriorating North Texas housing market has taken down several local companies with it.
Local homebuilders, including Goff Homes and Colonnade Homes, are no longer marketing houses, and their telephones have been disconnected.
Last month, Arlington-based Steelman Homes LLC, a property management company, filed for Chapter 7 bankruptcy, which provides for liquidation. Richardson-based homebuilder P.B. Building Inc. also filed for Chapter 7.
"A lot of homebuilders have been caught with tighter profit margins and the inability to sell a lot of properties," said Patrick Neligan, a lawyer whose firm is representing P.B. Building. "That kind of double whammy can be seen throughout the housing industry."
Frisco-based Greystone Custom Homebuilders Ltd. filed to reorganize under Chapter 11 bankruptcy.
Carrollton-based Buescher Interests LP entered Chapter 7 bankruptcy in February, but it later switched to Chapter 11. A lawyer for the company did not return telephone calls seeking comment.
Buescher left empty lots and unfinished homes when it went out of business.
Some of the properties were in Craig Ranch, a 2,500-acre master-planned project in Collin County. The development reacquired the properties, said David Craig, Craig International's chairman and chief executive.
Other Buescher homes were in a nearby development called Panther Creek Estates. All told, Buescher left about 70 properties in Frisco, most of them vacant lots, said John Lettelleir, the city's director of planning and development services. The city has been cutting the weeds.
"We just did that earlier this month on the Buescher lots," he said.
Thursday, February 21, 2008
Homebuild negotiations
People don't realize that homebuilders do not tell the general public about specials that Realtors know about. When a builder rep sees a family or individual come into their model homes without a Real Estate Agent they smell blood.
Not to say they are unethical in any way. They are just doing their job. That job is to protect the interests of the homebuilder. Get the homebuilder the most for their home. Your Realtors job is to protect your interests and not the builders.
Realtor comissions on a new construction are paid out of a builders marketing fund, NOT added to the price of the home.
Not to say they are unethical in any way. They are just doing their job. That job is to protect the interests of the homebuilder. Get the homebuilder the most for their home. Your Realtors job is to protect your interests and not the builders.
Realtor comissions on a new construction are paid out of a builders marketing fund, NOT added to the price of the home.
Monday, December 31, 2007
Subscribe to:
Posts (Atom)
