Real Estate Information

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For virtual tour go to:  http://www.visualtour.com/shownp.asp?T=1920885
Call Today for your private showing, Pam 817-690-0976 mobile or Mark 817-690-0954.

Keeping current in the Real Estate industry is a must these days.  With so much negative news in the media, it is great to hear some positive news from the Chief Economist, Lawrence Yun with the National Association of Realtors. 

According to Yun, contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001. The Pending Home Sales Index, is a forward-looking indicator.  The index is at the highest level since June 2007. 

Mr. Yun, said the housing market momentum has clearly turned for the better.  “The recovery is broad-based across many parts of the country.  Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit, and other buyers are taking advantage of low home values before prices turn higher". 

NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit.  Buyers have little time to act because they must complete the transaction by November 30 to qualify for the credit. 

“To ensure that housing has a broad stimulus to the overall economy and stays on sound footing, we’re encouraging Congress to extend the tax credit into 2010, and to expand it to all buyers of primary residences.  The faster we stabilize home prices, the fewer families will face foreclosure and the quicker credit can be extended to other sectors of the economy,”  says Charles McMillan, President of NAR.

It is expected that the existing-home sales will rise through the fourth quarter.  “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” said Yun. 

“However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010.  The buyer psychology may be shifting from, ‘Why buy now when I can purchase later, to I don’t want to miss out on a recovery’.”

Existing-home sales for August will be released September 24; the next Pending Home Sales Index will be on October 1.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.  Statistical data, tables and surveys also may be found by clicking on Research.

    A bill that helps home buyers afford energy improvements & encourages banks to offer a discount on loans to pay for reducing energy usage passed the U.S. House in June & could pass the Senate in the fall. The American Clean Energy & Security Act of 2009 requires Fannie Mae & Freddie Mac to offer discounts on mortgages that include extra cash for making a home more energy efficient.
     These discounts, which are already in effect at some lenders, include savings on closing costs for homes that have Energy Star appliances. The Federal Housing Administration is offering a plan that allows borrowers to add the cost of making efficiency improvements into the mortgage.

For more information visit:  http://www.energystar.gov/ 

     Real estate professionals report that first-time home buyers are flooding the sales market, pressed to finalize a deal before the federal government's $8,000 tax credit offer expires on November 30, 2009.
     Because mortgage approvals, residential inspections, and other steps in the buying process typically take about two months, buyers hoping to take advantage of the incentive will need to have a contract by the end of September.
     The new flurry of activity now as house-hunters try to meet the deadline, is triggering bidding wars and energizing the property market, which historically is slow at the end of summer. 
      More home sellers are getting their full asking price.  As a result of the shrinking inventory in the affordable prices for first time homebuyers. 

     View our Tax Credit countdown calendar at 2009 First Time Home Buyer Tax Credit .

     In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 5.14 percent for the week ending August 27, up from the previous week when it averaged 5.12 percent.
      Last year at this time, the 30-year fixed-rate mortgage averaged 6.40 percent. 
      Low rates contributed to existing home sales rising for the fourth consecutive month to an annual.  Add the Tax Credit to the low mortgage rates and now is a GREAT time to buy. 

Save The Date

The annual Willow Parkfest and Chili cook off is Saturday, September 26,2009, 10am to 4pm. We are excited that the Chili cook-off will be highly visible in front of the City Hall by the flag pole this year. Participants will need to contact Lisa Flowers at the chamber for a registration packet, Office: 817-441-7844 or http://www.eastparkerchamber.com.

Each participate will be able to set up their booth by 8am and prepare the Chili on site. Award presentations will be around 1:30pm and 1st, 2nd & 3rd place will be given, as well as "People's Choice" and "Showmanship" awards based on public voting.

There will be live music by Clay Jarvis Band and many fun family activities for all. We hope to see you there

Known as the “Lone Star State,” everything is big in Texas. Highly regarded for its gorgeous natural landscapes, rich history, growing population and rural cities, the state has always been one of top locations to call home. Many potential homeowners still flock to Texas in search of their dream home.

Although purchasing a home is an exciting time for you and your family, it can also bring additional responsibilities in your life. In the world of real estate and home ownership, there can be a large amount of items on the agenda.  Having the assistance of an honest and experienced Texas real estate agent can make this process easy and stress free.

What is asbestos?

Used in many construction applications for the greater part of the 20^th century, asbestos is a fibrous mineral that possesses many intrinsic traits. In most situations, asbestos appears in roof shingles, dry wall, attic insulation, popcorn ceilings, joint compounds and electrical wires. 

 It’s flame resistant and durable qualities made it an ideal choice for many industries. In many instances, homes built prior to 1980 may contain this substance. This should not make you jump out of your seat because exposure to asbestos is easily avoidable by taking simple precautions.

With a large petroleum industry based in the state, many problems have occurred as a result of oil companies using asbestos at their facilities. Giants such as Mobil, Shell and Gulf have been stationed in Texas. Many homes in Texas have had asbestos used in popcorn ceilings, walls and asbestos siding.  

Healthy tips & advice

According to the experts, the general rule of thumb is if the asbestos is in good shape, it's posing no apparent risk. If it's in bad shape, it could be a problem. In many situations, the best action in dealing with asbestos is no action at all. Leaving asbestos un-disturbed will prevent its fibers from becoming airborne, where it can be easily inhaled. If removal is necessary, it must be performed by a licensed abatement contractor who is trained and licensed to deal with hazardous materials.  

The Texas Department of Health Services helps protect and promote the physical and environmental well being of citizens in Texas from asbestos. With a new outreach program, they are currently educating the public in finding the right asbestos abatement contractors to inspect and remove the hazardous material from homes, public facilities and workplaces.  

Exposure to asbestos can lead to the development of a rare, but severe form of asbestos lung cancer known as mesothelioma. Mesothelioma causes are as a result of inhaling asbestos fibers that become ingested in the inner linings of your lung. Mesothelioma diagnosis is a difficult task for physicians due to a variety of reasons. These include: length of latency period, age of exposure and cigarette smoking. 

Eco-friendly Alternatives 

A catalyst for homes, industries, schools, universities and business, the incredible diversity of enterprises is driven by a common bound to move to a green lifestyle. The implementation of eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world.

If asbestos is removed, green eco-friendly options should be considered as replacements. These green insulation options include the use of cotton fiber, cellulose and lcynene foam. These recycled building materials can decrease annual energy costs up to 25 percent. According to the U.S. Department of Energy, heating and cooling counts for 50 to 70 percent of energy used in the average home.

Cotton fiber is made from recycled batted material and treated to be flame resistant. With the implementation of these recycled materials, waste is also decreasing in landfills. These options will provide a safe and healthy home, free of any damaging materials.

Whether you are a buyer or seller, you have probably been reading numerous articles, listening to news reports and talking with colleagues about the real estate market.  Is now a good time to buy or sell? 

While we are still considered to be in a buyer’s market, meaning that there are a large number of homes for sale and prices are competitive, the future is looking brighter for sellers too.

A recent article in the Wall Street Journal reported that “Home prices in major U. S. cities registered the first monthly gain in nearly three years, according to a new report that provided fresh evidence that the severe U. S. housing downturn could be easing.”

Although overall home prices are still down in comparison to last year, the DFW Metroplex is up approximately 1.9 percent.  “…likely sales spurs included mortgage rates that fell to 50-year lows, an $8,000 federal-tax credit for first-time homebuyers (transactions must be closed by November 30,2009 to qualify) and the ability of buyers to secure mortgages from the Federal Housing Administration with as little as 3.5 % down.”, according to the Wall Street Journal.

Lawrence Yun, Chief Economist, National Association of Realtors Research says, "recent figures on home sales – both pending and closed indicate that housing market recovery prospects have improved considerably. Pending home sales (contract signings) in June rose again for a fifth consecutive month. We’ve also seen downward trends in housing inventory and distressed property home sales. Both of these developments suggest that the market is moving back towards more normal conditions.

So, for all of you considering purchasing a home in the near future, YES, it is a great time to buy! 

For those considering making a move, whether you want to downsize or if you need more space for a growing family, the market could work in your favor too.  While prices are not where they were, things are looking brighter.  Fortunately, we never experienced the severe price drop that occurred in other parts of the country.  So, there are plenty of buyers looking for homes in our marketplace and when your home sells, you will also have the benefits available to you as a buyer!

Hurry while there's still time to take advantage of the first time home buyer credit and historically low interest rates.  Call us today and we will get you on your way to finding the right home!
817-441-7707

No matter where you live in the Fort Worth metroplex, you know you live in one of the best places in the country.  Texas runs about a year to 18 months behind the rest of the nation during this economic downturn. The economic and financial crisis has affected many lives in our country, but living in Texas is really a blessing. Due to a stronger economic job market, our housing market remains robust.  The real estate market has continued to thrive while other areas are just trying to survive.  Yes, financing is a bit more of a challenge, but with diligence and commitment it is still available. Those with sub prime loans and overextended builders, in which lenders have been forced to take back properties, have been hit the hardest during these times.

Real Estate is always local and is extremely relevant to the Fort Worth metroplex area.  Jim Gaines, research economist with the Texas A&M University Real Estate Center; acknowledged that what makes our state unique is that residential real estate is becoming tremendously spotty.  “We have individual neighborhoods with a high number of foreclosures, which has caused prices to fall (in those specific areas), But then a neighborhood right next door (with out foreclosures) has prices going up.”  He adds that most of the foreclosures are concentrated in tract subdivisions, where developers focused on attracting buyers as fast as possible.  “Some might have been using the sub prime ‘exotic’ financing and high loan to value ratios which means a homebuyer has almost no margin for error.”

The overall sales volume in the Fort Worth market has fallen, but not as dramatically as other areas of the country, like California and Florida.  According to the Case-Shiller index, Forth Worth has the least amount of price decline in the nation.  Area home sales are abnormally high, while the average median prices are lower due to the many foreclosures and distressed sales through the MLS.  This causes the overall statistics to look worse. 

After attending the Annual Star Power convention (a top real estate producer training conference) in Denver last week, I was encouraged by the projections of economic signs of recovery.  It may be more of a buyer’s market now, but when it hits bottom, that’s going to change.  The $8,000 tax credit is good through the December 1, 2009.  Now is the perfect time to buy a home.  

Fort Worth Metroplex
Did you know? 

According to the Forth Worth Chamber of Commerce, Forth Worth and Arlington are least likely to experience depreciation in home value over the next two years.  We are also ranked fourth in the nation for real estate investing and the best region to relocate families.  The U.S. Census Bureau says Dallas/Forth Worth is the fastest growing Metropolitan area in the nation.  Fort Worth is the fifth best city for jobs and ranked No.9 on Fortune Small Business Magazine's list of 100 Best Cities to "Live and Launch" a business, March 2008. 

Interest rates are at an all time historical low, there are deals out there to be made and today is the time to buy!  So what are you waiting for?  Jump in and enjoy the Texas lifestyle and opportunity!  Feel free to call us today, 817-441-7707 or 817-690-0976.