The Market In Dallas

This is Roxanne DeBerry and I just wanted to comment on the market in the North Dalls area. I have seen a lot of changes since the beginning of 2007 till now. First, due to the mortgage meltdown there has been less buyers in the market in 2008 than in 2007. New home builders have reduced their inventory and prices on pre-owned homes have gone down in some areas. However, there has not been a siginicant change in the prices of homes in most areas. Prices have been stable to somewhat lower than last year. The number of new listings coming on the market is also less than in 2007.

With this said, there is also great news about the economy in the Dallas area. Job growth is one of the highest in the U.S. and is listed at #8 in the whole state of Texas. We added over 68,000 jobs in Texas from July 2007 to July 2008. Interest rates are still at historical lows and as inidicated above, the home prices are very affordable.

I believe that since builder inventory has gone down and there are fewer new listings coming on the market and with job growth accelerating, it is only a matter of time that home prices will start showing increases in the near future. My suggestion to buyers that need a new home is to buy now. To see some of my wonderful listings please go to my website at www.thedeberryteam.com. You can also listen to my latest news about the area as well as national real estate news by going to my newsletter.

If I may be of any help with your real estate needs, please send me an email at roxanne@thedeberryteam.com or call me at roxanne@thedeberryteam.com.

Roxanne DeBerry

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Dallas-What A City!!

Dallas is one place that I have to say is a great place to live, work, and of course to play in. The people in the Dallas area are friendly, helpful, and you might even hear them say “how ya’ll doing”! One thing I noticed when I first moved to the area was how people would just come up and talk with you. They acted like they knew me and it was refreshing from where I had moved from. Another thing that caught my eye was that in many restaurants or other activities, people from all walks of life seemed to intermingle. There were people wearing jeans and others in suits and it didn’t seem to matter to any of them how they were dressed. Of course, we have the places were it is required to wear nicer clothing. It is just nice to see that everyone seems to get along so well.

I remember coming into the Dallas area and seeing the signs “Drive Friendly” and you know those signs really said a lot about Texans. They have strong beliefs and are very independent, but they are downright friendly in most cases. Cars or trucks would pass on some of the smaller roads and people would wave at us. I thought at first they must be someone I knew, then I realized it was just their way of saying “howdy”! I liked it!!

I have been to Maverick basketball games, Stars hockey games, Cowboy football games, and the Texas State Fair and had a great time with the people who were there. Football still seems to be king in this area. The museums, the plays, the Dallas Zoo, the West End, and many other attractions gives people who move here a variety of things to do. Most of these activities are right in Dallas and then you have even more activities surrounding the Dallas area. You have Six Flags,
Lone Star Park, and the Texas Motor Speedway. There is something for everyone.

I was not born in Texas, but I considered myself a “naturalized Texan” and I am proud of it. Texans are proud of their State and you will hear them talk about it. They are not shy, but open about their opinions and that is okay. I am also proud of being a Realtor at
Keller Williams Realty. It is a Texas company that was founded in Austin and is now the 4th largest franchised real estate company in North America and growing. I love helping people move to this area and most everyone finds the homes extremely affordable and you get a lot of square footage for your money. Texas was recognized in national news as one of the “best” places to live because of home affordability. It had the most influx of new people than any other state in the U.S. in 2007. It has more fortune 500 companies headquarters than any other state. Texas is now recognized as the #1 state for wind power generation. I think that has to do with generating electricity and not us Texans shooting the breeze!

If you or someone you know is planning on moving to the Dallas area, please have them give me a call at 214-676-8040 or email me at roxanne@thedeberryteam.com. The DeBerry Team is here to serve all of your real estate needs.

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Dallas, Dallas, Dallas Real Estate Affordability

Yes, Dallas is the place to be. Great city, great people, great restaurants and plenty of them, great economic enviroment, and definitely one of the best places to live. Home affordability is ranked as one of the top places to live in the nation. The DeBerry Team of Keller Wiliams Realty has been helping people find and sell homes in Dallas for over 30 years. We want to make sure everyone understands the housing market here in north Texas. Home prices have remained steady in most areas of the metroplex (Dallas-Fort Worth). Prices may have gone up around 3% to 5% in most areas, but there were certain neighborhoods that saw greater price escalation. However as a whole, prices did not climb that much over the past couple of years. So today is a great time to buy a home. You may ask me why is today a great time to buy? If your thought process is telling you that if you wait a little bit longer, home prices will come down and you will get a better deal, think again! The DeBerry Team feels that if you are waiting for prices to drop significantly in this area, you may be waiting a long time. What you should be concerned about is mortgage interest rates. Why? Because there is a feeling that we are going to see interest rates increase in the very near future. The reason is because the Fed rate cut will increase inflationary pressures on our economy. Remember, the Fed rate cut is not tied directly into mortgage interest rates, however it influences the general economy which in turn can influence Bonds which mortgage rates are tied to.

Today, we are seeing a weaker dollar, higher gas prices, gold has risen 25% or more, and other commodities are on the rise. Bonds do not react well to these pressures and this will increase rates paid for mortgages. If you are sitting on the fence waiting for prices on homes to decrease you may be hurting yourself financially. If mortgage rates increase by 1% you will need to have home prices go down by 10% to make up the difference. Today’s rates are very good and home prices are fairly stable, so the time to buy is now. If you wait, you may be costing yourself money in the long run. The simple fact is, home prices went up 3% to 5% and they are unlikely to go down 10%. Rates for mortgages are more likely to climb, which means more money out of your pocket book.

If you would like some advice on Real Estate or need help with selling or buying property, call The DeBerry Team for assistance. Remember, today is a great time to buy a home!

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Dallas A Great Place To Live!

The real estate market in the Dallas area is still doing great! People hear all the national news about the housing industry and sometimes apply it to Texas. The statistics show that Texas and Dallas in general is doing just fine in the way of real estate sales and home prices. Homes are affordable and as I have always said “you just can’t beat the atmosphere”! What do I mean by atmosphere? I am not talking about the weather, however it is pretty nice year round. I am talking about the people that live here. You will find that Dallas has places you can go in either a suit or in a pair of jeans and you will fit right in. We have such a diverse venue of things to do that allow people to get together from all walks of life. Dallas is a city that is energizing. It is a place that sparks the vibrant attitude of business and opportunity.

If you are a home owner in Dallas or a business person in Dallas please make your comments known is this blog. The best people to talk about someones hometown are the people that live here. This is a community blog and we look forward to participation from the residence of the city.

For those of you that are visiting this blog, please send us questions regarding our city so we can respond to them accordingly. We look forward to helping you in your decision to moving to our wonderful area. Here is the local Dallas Chamber of Commerce link. We hope that you will participate in making this a helpful medium to the community.

For Questions regarding real estate in the Dallas area, please contact Roxanne DeBerry at 214-676-8040 or email her at roxanne@thedeberryteam.com

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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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Dallas Wins!

The DeBerry Team has lots of team members that are sports enthusiasts. We are all Cowboy fans and were excited that we won in Chicago. We knew the Bears were going to have a tough defense and it was going to be a test for Tony Romo and the offense. However, the “Boys” came through like champs!

Speaking of the Dallas area, “The DeBerry Team” has been helping people with their real estate needs for the past 30+ years and we also have a winning team. We are ranked in the top 1% or less of all realtors in the metroplex. I sincerely believe we score touchdowns for our clients.

Dallas is an exciting city with many sports venues such as the “Stars” hockey team, the “Mavericks” basketball team, and not to far away is the “Rangers” baseball team. We also have some minor league teams in the area as well. There really is something for everyone. We have skating rinks, soccer fields, parks, jogging trails, running events, and a host of other sports related activities. Dallas is great for active individuals who enjoy competing and getting involved in sports activities. We also have wonderful Museums, Broadway Shows, Art Festivals, Balloon Festivals, Rodeos, and a myriad of other activities for all ages and interests. In October we have our State Fair at Fair Park. It is great for the kids both young and old.

This is Larry and Roxanne DeBerry and when we came to the Dallas area in 1974 we found that what makes Dallas a great place to live are the people. We can remember when we drove into Texas and people driving by us would wave. At first we thought it was someone who might of known us but we soon found out that it was just a friendly jesture as people drove by. It was nice when we went into a restaurant or business establishment to find friendly and polite people attending to us. It was nothing unusual to hear, Hi! How Ya’ll doing? or Ya’ll come back soon! Over the years the population has grown but we still feel that what makes Dallas and the surrounding areas great are the people.

If you would like to know more about the area, “The DeBerry Team” or have questions about real estate please email us at roxanne@thedeberryteam.com and we will be happy to assist you.

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Buying or Selling In Today’s Market

The DeBerry Team is once again educating buyers and sellers on what to do in the present market. Sellers have asked if they should wait to sell and some buyers think that prices are going to go down and feel that they should wait for a better deal. Based on the information we have from our sources and from our own experience we feel the following is the appropriate action buyers and sellers should take.

The DeBerry Team continues to stay on top of what is going on in the market. For Sellers, our advice is that when selling your home in today’s market you will probably have to lower your expectations on what you expect to net. If you want to buy a new home then we suggest that you do sell your home in today’s market because it won’t cost you as much money to buy the next one. You should speak to your realtor and ask them to make sure that the buyer who makes an offer on your home is pre-approved. We don’t mean a pre-approval that they received from some obscure internet company, instead it should be from a viable mortgage provider. If you are just wanting to sell your home and go into a rental situation, our suggestion is to wait. However, we would caution you that interest rates may move upward and that could limit the number of potential buyers for your home. Even though the Fed has cut the Prime Rate it doesn’t always equate into lower mortgage rates.

For Buyers in today’s market, our overwhelming recommendation is to buy now. The rates are low, prices are competitive, and there is plenty of inventory to choose from. We suggest using a local mortgage professional to help you with the pre-approval process so that you don’t have any surprises when trying to close on your home. If you are considering buying a new construction home, please utilize a realtor. Now you may think that statement is self serving, but that is not our intent. Realtors are there for your protection. New home sales personnel work directly for the builder and not for you. Realtors work for you. The question is will I have to pay more by using a realtor? In most cases you should not. The reason I say this is because the large volume builders build the realtors commission into their marketing programs. There are many of those builders that owe 50% or more of their business due to real estate professionals. Many new home builders may offer you incentives in the home, but in turn, they want you to use their title and mortgage companies. Why do you think they want you do to this? You have the right to pick your own mortgage and title vendors and you may find out that they have better rates as well. They will also explain what kind of program you are actually getting into. Please ask questions lots of questions of builders if you don’t use a realtor to protect your interests. We do want to caution buyers who wish to wait and see what prices or mortgage rates are going to do. First, we believe that prices will not be impacted very much since homes on the market today are usually priced extremely competitive. Next, we do have a concern that mortgage rates will increase in the near future.

If you are looking to buy a foreclosure, please contact a realtor who specializes in this type of transaction. Even though foreclosures are posted they do not all go into foreclosure. Many people are working their credit issues out with their mortgage providers and the federal government is now helping in that area as well.

As a realtor of 30+ years of experience of helping buyers and sellers, I feel that our market has just returned to a “normal” market without the false mortgage incentives that generated a lot of bad situations for the public. This is a good thing and “The DeBerry Team” is ready, willing and able to help you with your real estate needs. Please give me a call about the market or if you need assistance with finding or selling a home. My personal number is 214-676-8040.

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Mortgage Concerns

The DeBerry Team wants to make sure that the public understands the issue with the mortgage industry. Our job is to protect and inform you of what has happened and what is taking place. Texas is in much better shape than states such as California, Nevada, and other states on both the east and west coasts. The issue in our area is that investors came in to our neighborhoods bought either new or close to new homes to rent or to flip and did this without much money down if any. The lenders had programs that did not require documentation in some cases and when things did not work out for the investors, they just let the properties get foreclosed on. They had little if any risk. Next, some new home builders also put people into risky loans and that are now affecting some people in our area.

It is important to understand that home prices in the Dallas area have not risen like in other east and west coast states. We have seen modest price increases and therefore should not see a major price decrease. Employment in our area has been good and continues to grow year after year. The availability of affordable homes, low prices, low mortgage rates and a healthy Texas economy continues to bolster the home market here in Texas. Credit guidlines for getting a mortgage have been strengthened which will keep credit risky people from getting a home. This is not a bad thing. There is still plenty of money available to get 100%, 80/20, and 90/10/10 loans based on certain criteria. Credit scores of of 580 and up may still obtain a mortgage. There are down payment assistance programs and FHA loans that make it easier to get a home. In general there is a lot of good news!

The DeBerry Team works with key mortgage service providers in the area and just this morning we spoke with Wayne Lancaster of Bankers Financial in Plano, Texas. Wayne’s contact information is Ph: 972-712-9835 or you can email him at Wayne.Lancaster@bfmgtx.com for more information on the current mortgage situation. Here is Wayne’s advice for Sellers: Be prepared for a smaller pool of qualified buyers. Approximately 15% to 30% of potential qualified buyers may be affected by the increased tightening of the credit guidelines and diminishing mortgage products. Have a serious talk with your real estate agent that is experienced in both the buying and selling of homes. An experienced agent will make sure that the buyers they bring you are pre-approved> They will help you set a price on your home that is competitive. Buyers: Get pre-approved with a reputable lender. Be wary of some internet providers. It may take a little longer or there may be more stipulations before getting a mortgage. Refiinance: Don’t delay! Communicate with your lender. Don’t do anything that could negatively affect your credit. ARMs Borrowers: If your ARM is scheduled to reset in the next 2-18 months, you need to schedule an appointment with a mortgage professional right away. Don’t let a default or mortgage situation sneak up on you.

The DeBerry Team has worked with Wayne for many years and we value his opinions. We have other valued mortgage professionals that are supporting our efforts to inform and protect our clients. When we receive information from them we may post a blog or they may be posting their own. If you have questions, concerns, or need help with real estate, please contact me, Roxanne DeBerry at 214-676-8040 or email me at roxanne@thedeberryteam.com. For more information on the area and hot deals on homes please visit my website at www.thedeberryteam.com.

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City Lifestyles

What are the lifestyle opportunities in and around Dallas, Texas. Are there hiking clubs, biking trails, civic clubs, golf clubs, local arts and theater, lakes, streams, fishing, boating, camping or other types of lifestyle opportunities?

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