Showing posts with label housing market. Show all posts
Showing posts with label housing market. Show all posts
Wednesday, October 17, 2012
Wednesday, April 20, 2011
Thursday, December 30, 2010
Tuesday, December 28, 2010
Tuesday, December 7, 2010
Thursday, November 11, 2010
Friday, May 7, 2010
Wednesday, December 9, 2009
Wednesday, December 2, 2009
Friday, November 6, 2009
Monday, June 1, 2009
Monday, March 30, 2009
Thursday, February 26, 2009
An opportunity of a lifetime....
Warren Buffet says, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful." While Mr. Buffet was writing about buying stocks, the same can be said for housing today.
Housing issues have permeated the economy both locally and nationally. This week, one index that tracks housing prices, S&P/Case-Shiller Home Price Indices, indicated home values fell the most since 1968, declining 18.5% in December from the year before.
Looked at from a different perspective, this means home prices have fallen to levels not seen in six to twelve years, depending on individual markets. Following the Case-Schiller report was the report from the National Association of Realtors (NAR) recently. The NAR reported that home prices for the month of January fell by 14.8%.
The bright spot though in contrast was that the number of homes sold in December increased. Home buyers from coast-to-coast have been buying distressed properties at the rate of 45% of total sales.
Recognizing that now is the time to buy, everyone – from those looking to purchase their first home to seasoned real estate investors – is buying homes today. Bruce Norris, the head of an investment group in Southern California, expects to buy at least 100 homes this year as, "This is the buying opportunity of our lifetime."
Fundamentals Point to Strength
The basic fundamentals of the housing market point to higher prices ahead. Almost half of the properties being sold today are existing homes that are either owned by banks or homes on which banks are accepting short sales, allowing them to be sold for less than what is owed.
New homes or homes under construction are near all-time lows. The country's demographics point to more potential buyers coming into the housing market than projected inventory in coming years. This all points to higher prices on the horizon as demand will be greater than supply. This is supported by the fact that the inventory of unsold homes fell 2.7% in January.
Why Buy Now?
Three very important reasons to buy now are:
Interest rates are near all time lows;
Home prices have declined to levels not seen in years; and
Qualified first-time home buyers are now eligible for up to an $8,000 tax credit.
Lower Prices Don't Always Equate to Lower Payments
One final point to consider. Even if you believe that home prices will continue to decline, it's very difficult to believe that interest rates will remain at these low levels.
Did you know that even if home prices were to decline 10% but also during that time, interest rates available for home loans were to increase by 1.00%, your monthly principal and interest payment would actually be higher? It's true. So, if you are thinking of buying or the end of your lease is near, get busy and get in the game. To quote Mr. Buffet again, "If you wait for the robins, spring will be over."
Call me and we can discuss the best options for you today.
Housing issues have permeated the economy both locally and nationally. This week, one index that tracks housing prices, S&P/Case-Shiller Home Price Indices, indicated home values fell the most since 1968, declining 18.5% in December from the year before.
Looked at from a different perspective, this means home prices have fallen to levels not seen in six to twelve years, depending on individual markets. Following the Case-Schiller report was the report from the National Association of Realtors (NAR) recently. The NAR reported that home prices for the month of January fell by 14.8%.
The bright spot though in contrast was that the number of homes sold in December increased. Home buyers from coast-to-coast have been buying distressed properties at the rate of 45% of total sales.
Recognizing that now is the time to buy, everyone – from those looking to purchase their first home to seasoned real estate investors – is buying homes today. Bruce Norris, the head of an investment group in Southern California, expects to buy at least 100 homes this year as, "This is the buying opportunity of our lifetime."
Fundamentals Point to Strength
The basic fundamentals of the housing market point to higher prices ahead. Almost half of the properties being sold today are existing homes that are either owned by banks or homes on which banks are accepting short sales, allowing them to be sold for less than what is owed.
New homes or homes under construction are near all-time lows. The country's demographics point to more potential buyers coming into the housing market than projected inventory in coming years. This all points to higher prices on the horizon as demand will be greater than supply. This is supported by the fact that the inventory of unsold homes fell 2.7% in January.
Why Buy Now?
Three very important reasons to buy now are:
Interest rates are near all time lows;
Home prices have declined to levels not seen in years; and
Qualified first-time home buyers are now eligible for up to an $8,000 tax credit.
Lower Prices Don't Always Equate to Lower Payments
One final point to consider. Even if you believe that home prices will continue to decline, it's very difficult to believe that interest rates will remain at these low levels.
Did you know that even if home prices were to decline 10% but also during that time, interest rates available for home loans were to increase by 1.00%, your monthly principal and interest payment would actually be higher? It's true. So, if you are thinking of buying or the end of your lease is near, get busy and get in the game. To quote Mr. Buffet again, "If you wait for the robins, spring will be over."
Call me and we can discuss the best options for you today.
Wednesday, January 21, 2009
Tuesday, January 6, 2009
Economic and Market Watch Report 2nd Quarter 2008
Click here to veiew the best numbers regarding our North Texas Real Estate Information System Economci and Market Watch Report for the 2nd Quarter for 2008.
If you should have questions regarding this important information, please feel free to call. Like every year, the market takes a slow down from Thanksgiving to the end of January.
If you should have questions regarding this important information, please feel free to call. Like every year, the market takes a slow down from Thanksgiving to the end of January.
Thursday, October 30, 2008
Dallas Fort Worth homes will hold their values
By STEVE BROWN / The Dallas Morning Newsstevebrown@dallasnews.com
One of the biggest worries for today’s homebuyer is the continued drop in home prices.
While cheaper housing costs are appealing, many consumers fret that prices will keep falling after they buy.
Texans shouldn’t be so concerned, according to a new report by the Center for Economic and Policy Research and the National Low Income Housing Coalition.
The analysis of the 100 largest U.S. home markets shows that Dallas-Fort Worth homebuyers are more likely to preserve home equity during the next four years.
Houston, D-FW and San Antonio are among the tops in the country in this forecast.
The study is based on a purchase of homes priced at 75 percent of the median price, which is about $150,000 in D-FW. The home purchase is financed at between 6 and 8 percent interest.
By 2012, the purchaser of a mid-priced home in Houston, D-FW and San Antonio will have, on average, more than $80,000 in equity in the house, the researchers predict.
While such forecasts are often academic, the trend it highlights toward higher home equity here is important. Almost a third of the metropolitan areas in the report are forecast to see a net decline in home equity during the same period.
The study concludes that home prices in “many communities have yet to hit bottom and significant price declines must be reckoned with.”
The remaining downside is worst in regions of the country that saw big run-ups in home prices before the current decline.
The researchers warn that it would be a mistake for governments to try and stop the current housing market correction and “maintain what are historically unprecedented high home prices.”
The positive outlook for Texas home equity growth isn’t a surprise to Mark Dotzour, top economist with Texas A&M University’s Real Estate Center.
“It confirms that there never was a price bubble in any Texas city and consequently the likelihood of equity increase is higher,” Dr. Dotzour said. “I find it interesting that their policy decision is to recommend that government allows prices to continue to fall.”
Median preowned home prices have fallen by between 2 percent and 3 percent in North Texas since peaking in mid-2007.
During the last year, nationwide home sales prices have dropped by more than 15 percent.
WHERE'S THE EQUITY?
Forecast of average home equity a buyer of a home priced at 75 percent of the median price could see during the next four years. From a comparison of 100 largest U.S. housing markets.
GREATEST INCREASES
McAllen
$90,795
Houston
$82,735
Dallas-Fort Worth
$81,338
San Antonio
$81,308
Rochester, N.Y.
$78,947
SHARPEST DECLINES
San Jose
-328,394
San Francisco
-226,489
Los Angeles
-168,069
Bridgeport, Conn.
-164,671
Oxnard, Calif.
$148,076
One of the biggest worries for today’s homebuyer is the continued drop in home prices.
While cheaper housing costs are appealing, many consumers fret that prices will keep falling after they buy.
Texans shouldn’t be so concerned, according to a new report by the Center for Economic and Policy Research and the National Low Income Housing Coalition.
The analysis of the 100 largest U.S. home markets shows that Dallas-Fort Worth homebuyers are more likely to preserve home equity during the next four years.
Houston, D-FW and San Antonio are among the tops in the country in this forecast.
The study is based on a purchase of homes priced at 75 percent of the median price, which is about $150,000 in D-FW. The home purchase is financed at between 6 and 8 percent interest.
By 2012, the purchaser of a mid-priced home in Houston, D-FW and San Antonio will have, on average, more than $80,000 in equity in the house, the researchers predict.
While such forecasts are often academic, the trend it highlights toward higher home equity here is important. Almost a third of the metropolitan areas in the report are forecast to see a net decline in home equity during the same period.
The study concludes that home prices in “many communities have yet to hit bottom and significant price declines must be reckoned with.”
The remaining downside is worst in regions of the country that saw big run-ups in home prices before the current decline.
The researchers warn that it would be a mistake for governments to try and stop the current housing market correction and “maintain what are historically unprecedented high home prices.”
The positive outlook for Texas home equity growth isn’t a surprise to Mark Dotzour, top economist with Texas A&M University’s Real Estate Center.
“It confirms that there never was a price bubble in any Texas city and consequently the likelihood of equity increase is higher,” Dr. Dotzour said. “I find it interesting that their policy decision is to recommend that government allows prices to continue to fall.”
Median preowned home prices have fallen by between 2 percent and 3 percent in North Texas since peaking in mid-2007.
During the last year, nationwide home sales prices have dropped by more than 15 percent.
WHERE'S THE EQUITY?
Forecast of average home equity a buyer of a home priced at 75 percent of the median price could see during the next four years. From a comparison of 100 largest U.S. housing markets.
GREATEST INCREASES
McAllen
$90,795
Houston
$82,735
Dallas-Fort Worth
$81,338
San Antonio
$81,308
Rochester, N.Y.
$78,947
SHARPEST DECLINES
San Jose
-328,394
San Francisco
-226,489
Los Angeles
-168,069
Bridgeport, Conn.
-164,671
Oxnard, Calif.
$148,076
Friday, September 19, 2008
Shady Lending Practices... BEWARE!
In real estate, I help people buy and/or sell properties. Whether is be residential, commercial, investment, land, or lease.
The main reason why the housing market has declined so much in the past 2 years is because of these shady lending practices. You know. . . the adjustable rates and the sub-prime loans, and mortgage companies simply refusing to work with so many homeowners that homeowners are forced to either sell or foreclose.
But with this market, comes a great deal of investors, and now, first-time homebuyers because of new incentives that are being put in to place. But Buyers BEWARE of lenders or "loan officers" who have absolutely no experience nor education on many of today's financing issues.
My latest "run-in" with these shady lending practices is with a company whom I won't call out. .. but their name starts with AMERI and ends with NET. This is an "institution" (if you could actually call it that) that does not even have a logo?!?
All loan officers work from their homes, and have a long list of underwriters to choose from.
First of all, don't EVER talk finances with someone who doesn't have someone else to answer to (Most loan officers have to deal with a branch manager or senior loan officer)... I know I know... anyone you find who works for Amerinet, calls themself either one or both.... ask them who their manager is before you let them run your credit. Get their manager or supervisor's information JUST IN CASE things go sour. TRUST ME.... with most of the "loan officers" carrying the Amerinet name, THEY WILL!
Lastly, I want to leave you with a little bit of "evidence" that shows how shady this company is:
In a little investigation I conducted myself -- which I often do -- I called the CEO of this "company" and asked for information on becoming a loan officer for the "company" in order to "work from home".. . the number he gave me was: 512-401-0522
After google-ing this phone number, I came up with SEVERAL companies who all carry this phone number.
The moral of this story is: If you're shopping for a lender, first ask family, then VERY close friends, then your Real Estate Agent. If you want to know who NOT to use, Google the number I gave you. That will give you a list of companies NOT to use!
lh, a.a.
The main reason why the housing market has declined so much in the past 2 years is because of these shady lending practices. You know. . . the adjustable rates and the sub-prime loans, and mortgage companies simply refusing to work with so many homeowners that homeowners are forced to either sell or foreclose.
But with this market, comes a great deal of investors, and now, first-time homebuyers because of new incentives that are being put in to place. But Buyers BEWARE of lenders or "loan officers" who have absolutely no experience nor education on many of today's financing issues.
My latest "run-in" with these shady lending practices is with a company whom I won't call out. .. but their name starts with AMERI and ends with NET. This is an "institution" (if you could actually call it that) that does not even have a logo?!?
All loan officers work from their homes, and have a long list of underwriters to choose from.
First of all, don't EVER talk finances with someone who doesn't have someone else to answer to (Most loan officers have to deal with a branch manager or senior loan officer)... I know I know... anyone you find who works for Amerinet, calls themself either one or both.... ask them who their manager is before you let them run your credit. Get their manager or supervisor's information JUST IN CASE things go sour. TRUST ME.... with most of the "loan officers" carrying the Amerinet name, THEY WILL!
Lastly, I want to leave you with a little bit of "evidence" that shows how shady this company is:
After google-ing this phone number, I came up with SEVERAL companies who all carry this phone number.
The moral of this story is: If you're shopping for a lender, first ask family, then VERY close friends, then your Real Estate Agent. If you want to know who NOT to use, Google the number I gave you. That will give you a list of companies NOT to use!
lh, a.a.
Monday, September 8, 2008
Labor day weekend fun.
As most of you know, first of September is always a very busy time in our lives. This year was even more chaotic with Danielle opening her new building on the pre-school.
With Bailey's birthday (Sept. 5), Ian's birthday (Sept. 4), Kennedy's Birthday (Sept. 1) and Danielle's birthday (Sept. 13) we are always hoping from all the birthday cake.
This year, I took Kennedy, Bailey, Liberty on a little daughter daddy camping trip to my hometown of Canyon, Texas. Canyon is the home of the Palo Duro Canyon. We also went to a Texas Tech football game. We really need to get out more often because the trip was short, but the memories will last forever.
Friday, August 22, 2008
Did you know....
Did you know…
1) The Texas economy is growing 3 times faster than the national average.
2) Texas is home to more Fortune 500 companies than any other state in the nation.
3) 50% of all jobs created in the U.S. in 2007 were in Texas
4) Texas now has one of the lowest property tax burdens in the nation—28% lower than the U.S. average.
Let’s educate our existing and potential clients that Texas is not indicative of the rest of the U.S. Now is a great time to be buying a home.
1) The Texas economy is growing 3 times faster than the national average.
2) Texas is home to more Fortune 500 companies than any other state in the nation.
3) 50% of all jobs created in the U.S. in 2007 were in Texas
4) Texas now has one of the lowest property tax burdens in the nation—28% lower than the U.S. average.
Let’s educate our existing and potential clients that Texas is not indicative of the rest of the U.S. Now is a great time to be buying a home.
Friday, August 8, 2008
Before school rush
Every year, there is a before school rush in real estate. People wanting to get moved before school starts back up. This year, like everything else, it has been a little slower than years past. The tremendous heat has also played a role in people staying indoors instead of looking at new houses.
I, however, have been very busy. I have seen that before school rush in addition to many investors coming out to begin buying the some of the best real estate deals that I think we'll see for a long time. If you are a buyer, you need to get off the fence and get into the market now.
I, however, have been very busy. I have seen that before school rush in addition to many investors coming out to begin buying the some of the best real estate deals that I think we'll see for a long time. If you are a buyer, you need to get off the fence and get into the market now.
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