Haunting Reality?

Now everyone knows I don't like to spread doom and gloom real estate lies but I couldn't resist posting this. I can't take credit for this so thanks to BlownMortgage.com. Love it!

Barbie Not Exempt From Real Estate Woes Either

I doubt that my brother reads my blog but if he did he would be so proud of this link.

Hilarious!

Real Estate Stats You Need to Know

Recently, the President of my company, Sue Meyer, wrote a letter to the Dallas Morning News and the Star Telegram encouraging them to write more positive articles about our local real estate market. In this letter she uses statistics that some people will find startling. As you all know, I have been a consistent advocate for our local real estate market trying to make sure people understand Dallas/Ft. Worth is doing fine amidst all of the doom and gloom real estate markets around the country. “Real estate is local” has been my mantra for many months. What is happening in Florida has no effect on your home’s sales price. The only effect these stories have had is only on our psyche. So now it’s time to put my money where my mouth is, so to speak, and show you those statistics Sue Meyer showed all 1,300 agents with Coldwell Banker Dallas/Ft. Worth.

2006 was the best year for real estate sales ever in the North Texas region with a sales volume of $18.2 billion dollars. If North Texas sales continue at their current pace (5% appreciation overall), even with the slight dip in sales numbers we have seen recently, we are still going to have the second best year for real estate sales ever! These are very impressive statistics but I have yet to see any of our local newspapers put these numbers in writing and into perspective. It is true our sales have declined. But is that really a bad thing when compared to the best year in the history of real estate? I don’t think so.

So now that you are adequately armed with knowledge, go tell your friends and family. The more people think our real estate market is doing poorly, it is only a matter of time before we make that a reality. We are our own worst enemy. So the next time someone tells you real estate in North Texas is headed South, quote these numbers taken straight for the North Texas Real Estate Information System. Not only will they be impressed, your local real estate market will thank you.

"Fish or Cut Bait" Among Other Things

Dallas is suffering from buyer paralysis. Home buyers have heard about the horrific real estate doom and gloom for so long that now they now are going to "wait it out". Question: What are you waiting for? Interest rates to rise? Inventory to get smaller. Which means not only less homes to choose from but possible multiple offer situations. This article from Realtytimes.com addresses this issue.

"...you have plenty of housing inventory from which to choose. Sales are slow, so sellers are offering thousands of dollars in incentives to tempt you to buy. Prices are flat. Interest rates are still historically low. Sounds to me like the buyer who has been waiting on the sidelines needs to get off the fence and pull out his checkbook."

I couldn't have said it better myself.

Best Real Estate Quote of 2007

Beautifully stated. This quote by Michael Bizenov, president of Sterling National Mortgage, has Dallas written all over it.

"The sellers are still looking at the price their neighbor got two years ago, and the buyers are looking for the mythical 30 percent price cut [the media keeps ranting about] and they're both wrong," he said. "It'll take some time for the stalemate to end."

Preach on!