In the recent months, we may have seen that the number of homes sold has declined, but the average price for Dallas homes was reported in a recent Dallas Morning News blog are up 2%.
That is better than the majority of U.S. housing markets.
The Dallas market also saw a decline in the number of houses on the market. Inventories rose in just six of the 26 home sales markets that Altos Research and Real IQ survey. "Pricing in the Dallas market has been stable to slightly positive over the past several months, and inventory has been basically flat to down," said Stephen Bedikian, partner and research director for Real IQ. "That's a good environment as supply and demand look to be in good balance."
As a Dallas resident, that gives us a little pride to stand behind, but is this just our "big Texas pride" and "big Texas placebo"....and will this placebo or positive thinking just prolong the inevitable? What is the inevitable? More loan programs going away, down payment assistance going away, possible higher and higher and higher down payment demanded on home loans in the near future, Fannie/Freddie issues; people can demand higher prices for their homes, but if there are less and less available buyers weeded out by tighter and more strict loan guidelines, SOMETHING has to give, right?
I had hopes of selling my home around this time as I had more kids and needed the space, but I honestly couldn't see jumping out into a market with my eyes covered. When I say that my eyes are covered, I just mean that there are too many variables that are "not given" where they were "given" in the past that hinder my ability calculate my risk versus reward between selling my current home and buying a new one. If the rest of the population decides to hold where they are at until the market becomes more predictable, therefore decreasing the number of "move up buyers" in the market, and all the super low down payment options are missing in action for the young first time buyers, who is going to be there to drive up the home values?
It has never been more important than now to make sure you are using a very experienced realtor or Loan Consultant when buying or selling a home.
Brad
Call for mortgage quote, Brad Lynch-469-450-2723
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Wednesday, August 13, 2008
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Testimonials & About Me
- Brad Lynch
- Frisco, Texas, United States
- In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.
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