Dallas Real Estate Market
Everybody is talking! Yes, you heard it right! The economy in the Dallas area is cooking. Jobs are being created, foreclosures are down, and there are homes available at great prices.
“The DeBerry Team” is positive on the market in Dallas. Don’t just take our word for it, look at this CNN MONEY VIDEO .
We want to assure the public that we are constantly keeping track of the market statistics because without them we could not run our business. The media continues to spin gloom and doom about real estate nationwide and people are somewhat tentative in this market to buy or sell. Let’s look at the facts; job growth is up, stock market is up, more people are moving into our area, and home prices compared from September 2006 to September 2007 are up as well. This doesn’t sound like a down market, does it? The sub prime mortgage lending has been a big news item as well, but did you know in Texas only 9% of the mortgages were sub prime and of that 9%, 75% are performing. Doesn’t sound that bad to us! Foreclosure are down from last year as well.
You can not take the national real estate news and apply it to the local market. Think about it, could you take the weather in New York and say that it affected Texas. It’s ridiculous and so is the news about real estate in general. Our economy is strong and our market does have some challenges with inventory of homes, but that will soon be corrected. Mortgages are still available at 100% and there are also buyer assistance programs available. Today is still a good time to buy or sell a home. If you want to find out more information concerning real estate in Dallas or the surrounding areas, please contact: Roxanne DeBerry at 214-676-8040 or email her at roxanne@thedeberryteam.com. For all the hot properties available go to our website at www.thedeberryteam.com.
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As a Dallas real estate agent and accountant there is nothing I enjoy more than houses and numbers. With the current state of our economy it seems there are more opportunities than ever to comment on trends, statistics and forecasts. The truth is that Dallas achieved a gold star in 2006 with its ranking as one of the ten metropolitan areas in the US with the highest foreclosure rates. According to Bloomberg and RealtyTrac, Dallas managed to beat itself in 2007 by having an even higher number of foreclosures that year than it did in the year before. The fact is that Dallas DID have a higher number of foreclosures in 2007 than in 2006, which is an amazing feat given our ranking in that previous year. That being said, Dallas was not included on the list of the biggest financial losers of 2007 as far as foreclosures are concerned but that is not because the actual number of foreclosures decreased but only because the foreclosure rate in other major US metropolitan areas managed to out pace that of the Dallas area. According to the S/P: Case-Shiller Index, home prices in 2007 fell at the fastest rate since 1991. Home prices fell 8.4% from one year earlier in November and 6.3% in October. While Dallas is one of only a few metropolitan areas in the Case-Shiller to manage to avoid having falling home values that changed at the end of 2007. While based on the Case-Shiller findings house values in Dallas are on the decline, the city is one of only seven that have not achieved record price drops.