February 2010 Dallas Real Estate News You Can Use!
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Be Dallas Friendly! Make The Transition for the New Owners as Smooth as It Can Possibly Be ... |
| Stress. Today especially, you find it everywhere you look. When you sell your home, make sure the new buyer can conveniently find everything they need to know about their new home conveniently laying on the kitchen counter. If the transaction goes well, a welcoming note would also be appropriate. Owner's manuals and warranties, garage door openers, extra sets of clearly labeled keys, a list of service suppliers (pool, plumbing, yard, utilities), security codes and monitoring companies, and home owner's association names and numbers should all be included. |
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Underwater in Dallas ... |
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Seven percent of the homes on the market in DFW are foreclosures. Although that is not a huge number in the Metroplex, the percentage of foreclosures is much higher in other parts of the country. The question becomes why that number is so low when there are so many homeowners who are “upside down” or “underwater” with their mortgages.
Despite the fact that more is owed on the home than it is worth, thousands of homeowners dutifully continue to make their mortgage payments every month.
What gives with this double standard? (1) Greedy lenders spurred on by Wall Street were free in the bubble days to maximize fees at the expense of borrowers and to make loans to people not caring or smart enough to read the fine print. (2) These loans were then packaged and sold to countries like Iceland of all places. It used to be that borrowers knew their local bankers. It is doubtful that people trying to pay off underwater loans personally know any bankers in Iceland. If a borrower were trying to come up with a rationale for why they shouldn’t continue making payments … these two reasons would be a good place to start!
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Housing in Dallas. New Hope on the Horizon. |
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According to the March 15th issue of Business Week, Cash-rich builders, the big boys of the home building industry who live on Wall Street, are again buying up tracts of real estate in anticipation of yet another building boom.
The reason is pure and simple. Population growth is taking place, and people will need places to live including single family homes, town homes, condos, apartments, and retirement facilities.
The well established builders with deep pockets have already deeply cut their overhead and are preparing for a resurgence of building. They’re back in the game of competing for land, reflecting confidence that after years of falling prices, rising foreclosures, and busted dreams, better days are ahead.
I particularly liked what Warren Buffet had to say in his February 27th letter to Berkshire Hathaway investors, “within a year or so residential housing problems should largely be behind us.” And to that, Brother Buffet, I add a hearty “Amen”!
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Does Real Estate in Dallas interest you? Let Me Email You a List of the 43 Most Common Mistakes Dallas Homebuyers Make. This Could Result in Your Saving $1000's on the Purchase of Your Home!
Learn more here!
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If you need any help or information about real estate in Dallas , or homes in Dallas, don't hesitate to send me an email with "DENNIS, I NEED HELP" in capital letters in the subject line and then tell me what you need. Even better, give Dennis a call!
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Featured Listings |
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Plano, TX |
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Plano Property - 4417 Atlanta Drive -
3 bedrooms, 2 baths, approx 1745 sq. ft.
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$172,900
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Dallas, TX |
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Dallas Property - 7911 La Cosa Drive -
4 bedrooms, 2.5 baths, approx 2278 sq. ft.
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$229,900
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Dallas, TX |
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Dallas Property - 10134 Bridgegate Court -
4 bedrooms, 2.5 baths, approx 3096 sq. ft.
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$279,900
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More Listings > |
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