Mortgage Rates Hit Record Low

Thirty year mortgage rates hit a record low last Friday at 4.78 percent (on a fixed rate note). This is the lowest rate since Freddie Mac has been tracking rates back to 1970.
There is an old saying: If You Snooze - You Loose
Now is the time to take advantage of this market. Email Kendra or Roger

With so many misperceptions created by the national news about the real estate market, dfwREALTORS.com - MetroTex Association would like to update you on what’s really going on in your market. It is important to know that real estate is local and knowing the facts about your area will help alleviate your concerns.

Why Texas is Different

Strong, diverse economy: Texas is strong in industries that are still growing (such as professional & business services, education & health services, government) and has the second largest economy in the nation by GDP according to the U.S. Bureau of Economic Analysis.

Steady job growth: According to the U.S. Bureau of Labor and Statistics, Texas added 153,700 jobs (1.5% increase in employment) from December 2007 to December 2008, while during the same time the national unemployment rate rose 2.3%.

Top state to relocate: According to Allied Van Lines’ 41st Annual Magnet States Report, Texas is the No. 1 destination state for residential relocations for the 4th year in a row. New data from the U.S. Census Bureau confirms that Texas gained more residents (484,000) between July 2007 and July 2008 than any other state.

Statewide Facts

Texas real estate remains a strong long-term investment. The average home sales price in Texas has increased $15,600 from December 2004 to December 2008; over the same four years, median sales prices (half of all homes sold are priced higher and half are prices lower) increased $8,600.
Texas has a balanced market. Statewide, there was 6.4-month inventory of homes for sale at the end of 2008. Economists at the Real Estate Center at Texas A&M say that about 6 ½ months of inventory is a balanced market, where homes are being sold and prices continue to increase at a moderate pace.
Texas homes have appreciated steadily. Home-price appreciation in Texas has not fallen below zero in the last 16 years.
Texas has steady home value appreciation. Sales prices in places like California, Florida, Nevada, and Arizona have had rapid rises and drops in values, while Texas prices have remained relatively steady.
Most borrowers are approved. According to a report by the National Association of REALTORS®, 91% of buyers in Texas were NOT rejected by lenders last year.

Buy Homes Now

Are home prices in Dallas, Rockwall, and Collin counties of Texas at the bottom of this real estate cycle?? That is hard to say. However, from most accounts, if we are not there we are very close.

Are home mortgage rates in Dallas, Rockwall, and Collin counties of Texas at the bottom of this current mortgage rate cycle?? This is also hard to say. However, just like home prices, if we are not there we are very close.

What we need to take from this is that now is an outstanding time to make the move-up or invest in rental properties. Call or email Kendra or Roger now.

Foreclosures Still Growing

Now that the lenders have all of the details of the government programs to help homeowners in default on their mortgages, most of the lenders who had put the foreclosures on hold are now filing on the foreclosures. According to recent reports, the foreclosure numbers are skyrocketing again. Although this is horrible for the homeowners, it does present opportunities for home buyers - both owner occupants and investors.
If you have interest in seeing what properties are available, just email Kendra or Roger and we will determine your criteria and set up your own individual website for you to get auto-notifications of new foreclosure properties as well as foreclosure properties that have price reductions.

Buffalo Creek Foreclosure - A Steal

124 Country Club - Heath, Tx.

Priced at $249,100 in the prestigeous Buffalo Creek community

This home is a foreclosure property and overall appears to need a minimum of rehab work. For more information, please call Kendra @ (214) 789-9736 or email to kendra.edwards@kw.com

This property will not last long because it is so underpriced for the area. Act quickly

Investment House WITH GREAT TENANT!

WHAT:
Residential Property WITH EXCELLENT TENANT
3 Bedrooms/2Bathrooms
1782 Square Feet
Built in 1989
All Electric

WHERE:
621 Renee ● DeSoto, TX 75115
[Do not disturb Tenants—Agent, Tenant and/or daughter must be present for showings]

WHY:
1. Instant Cash Flow with 3-Year Tenant that is never late and wants to stay!
[Current Month-to-Month Lease]

2. Needs no work! New A/C in 2008!

3. Priced well below Market Value

HOW MUCH:
Currently Listed at $115,000
(Tax Value: $121,530)
Tenant Pays $1050/Month plus Utilities

It's All About Timing & Now is the Time to BUY!

If you could talk to some of the wealthiest people in the world about the keys to their financial success, many of them would tell you "it's all about TIMING!".

Being at the right place at the right time...deciding to dive into an investment at just the right moment in time..."Timing is everything!".

We pay money to hear successful people, rich people tell us how they made their ship come in, and we pretend like we will follow their footsteps, copy their strategy but do we really listen, and apply? We listen, pray for their results, and then go about our business as usual, never really capitalizing on what we have heard them say..we don't really copy their strategy, do we?

Warren Buffet, David Ramsey, The New York Times, and even Donald Trump have said, BUY REAL ESTATE NOW!!! Many of the rich around us here in North Texas made their millions from buying and selling Texas Real Estate, which is still reportedly holding it's own better than most places in the US.

The rich have spoken!

Those "in the know" have said what they would do...and they are doing it!

The news says to do it!

People in all circles are talking about it...so why aren't you investing in Real Estate right now???? Better yet, why not Texas Real Estate?

It is certainly not rocket science...BUY LOW, SELL HIGH - NOW IS THE TIME TO BUY LOW!

Take advantage of these crazy days and dig down as deep as you have to go to make your self act on this great advice you have been given by the rich, successful and educated...copy what they do! BUY REAL ESTATE NOW!

Call us now to find out if you have the resources to truly take advantage of this bottom dollar market! This game is not for everyone but those of you with the inclination, and the resources, we can make it happen for you!