According to the Texas Home Builders Association. New Home Starts in August were 580,000 Septembers it was 600,000. It is not a huge jump but it is a jump in the right direction.
This is great news in the middle of all the bad news in the world.
Maybe things are turning slowly but turning the right way!
"The sharp drop in valuations of commercial real estate properties during the past year may be nearing a bottom, according to Los Angeles-based CB Richard Ellis Investors, in its recently released installment of "Investment Research Quarterly". Although the bid-ask gap remains wide between buyers and sellers, three indicators are providing some evidence that pricing will bottom out sooner than later.
First, the sharp pricing correction that has already taken place will continue to have a dramatic impact on sellers' expectations, the authors of the report conclude. The NCREIF Property Index depreciated by 9.5% in the fourth quarter of 2008 and 8.7% in the first quarter of 2009, the two worst quarters in the history of the index that spans more than 30 years. Over four quarters, the index registered a cumulative depreciation of 19.1%. "By contrast, during the last severe real estate downturn in the early 1990s, it took the NPI ten quarters - from the end of 1989 until mid-1992 - to register the same drop," according to CB Richard Ellis Investors. "The increasing willingness of investors to recognize lower value for assets they currently own is putting pressure both on the appraisers to lower values and sellers to reduce asking prices," the report states. "This means that while the pricing downturn in the early 1990s took many years to bottom out, the current downturn is much sharper, and therefore may be shorter."
Second, the recent upturn in the performance of publicly traded REITs is viewed as significant because REITs have historically acted as an early indicator of pricing declines and recoveries in private markets. After bottoming out in March of this year, REIT stock prices rose 49% year-to-date through June. "Just as REITs led the private markets in 2007 and 2008, it is probable that the recent share price recovery is an early indicator that a trough in private markets is coming soon," writes CB Richard Ellis Investors.
Third, the volume of property sales has fallen to such low levels that deal activity has no place to go but up. During the first five months of 2009, commercial real estate property sales totaled $13.8 billion, a 78% drop from the same period a year ago and 93% off the 2007 pace, according to Real Capital Analytics. "As cash-constrained owners increasingly become unwilling sellers, transaction activity will pick up," concludes CB Richard Ellis Investors. "An increase in sales will provide needed pricing information to both sellers and buyers. This transparency will both encourage more sellers to offer properties at realistic prices and provide buyers with the confidence to re-enter the market.""
This video shows the growth and opportunity here in Texas. The stats are real and Texas is not only the perfect place to live but the perfect place to have a job. With times as they are we as real estate agents are seeing more and more out of state home buyers who are relocating to either find new jobs or their actual headquarters moved to Texas. That says a lot. We hope you enjoy this video and if you have any questions, just fill out the form below
Extra parking behind fence as well as an oversized 3 car garage. This home was a Builders Pet Project so he added a lot of great up dates i.e. tons of crown, laundry shoot, tons of storage, bedrooms have built in chest so no need for extra furniture in the rooms, large open kitchen, nice cover patio in the back yard, the home faces North and South giving you relief from our Texas hot west sun. Sellers says bring all offers! This home needs a new owner. http://vt.realbiz360.com/MLS-115660.html
If you are looking for a place to open a business in Keller Texas we have several options at some of the best prices around. We have frontage on Denton Highway (Highway 377).
There is 1500-15,000 contiguous space available starting at 9.00 a sq ft plus NNN. There is also a One (1) acre track with possibility of a build to suit of up to 13,000 square foot building. The Seller is willing to do a Lease to purchase on this property.
We have a stand alone building at 424 Keller Parkway 1700 plus sqft. good visablity, would be great for a salon, professional office or medical space.
Shopping Center at 461 Keller Parkway there we have 1500 to 6000 contiguous rentable space lower than centers next to it.
We have links to specail financing available for Doctors if they are looking for a place to open their own practice.
The market is hopping in this area it is time for you to go into business in Keller Texas.
Last night as I laid in bed watching a little TV prior to falling asleep, I was flipping channels and came across the Dave Ramsy program. He was talking about real estate so my ears perked up and listened. I was so very impressed since he is the only real person with exposure to the general public that was finally speaking the truth about this industry.
I have been so tired of the sky is falling attitude of the media. I totally get that bad news sells, but surely people must be getting tired of this. The truth that Dave Ramsey was saying was that most of the foreclosures are in 35 counties of which most of these are in the following: California, Arizona, Nevada, Florida, Michigan. There is a huge thread about these areas too not just in real estate but with social ideas as well. That I won't go into but the real estate is important. News you won't hear on the national media is that home sales in CA alone are up over 100 percent. WOOO HAAAA but not a word about it. Second talking point that Dave Ramsey said was that we were going to see over 3 million in foreclosures this year alone. I have said this as well most of the ones that file won't get foreclosed on, their foreclosure will be cleared by a sale of the property, the home owner works something out or the sell with a short sale.
Third talking point that Dave Ramsey said was that according to the Reatlor.org site put out numbers for January 2009 in that month alone there were over 4 million homes sold.
Please not year and month it is important that you are in the know.
There are over 4 million out of work and funny apparently there is over 2 million jobs available. Sure might not be what you want or you might have to move to the job or whatever but there is work if you want to do what you want.
Ok, so if you have over 3 million in foreclosure in a year that is about 257,000 homes a month going into foreclosure.
Why is this news not getting on the national media----- It does not sell. Americans can't get enough of the Dirty Laundry. We wonder why there is so much anti depressant medication available. What we allow to be feed our brains.
I am not saying not be informed. Make sure the facts are true and look for the whole story. You can't get the whole story in a 30 second clip. Do your research.
I just want to thank Dave Ramsey for standing up to the BS that seems to be spread around on a well fertilized field ready to be planted.
The Perfect Storm for the home buyer who feels like they have a stable job, good credit, a little money, you will owner occupy and don't think you will be leaving or wanting to move for 10 years and you want to live in these areas. Boy, do we have a deal for you! City of Fort Worth will launch its program March 2009 to give you the home buyer $25,000.00 yes you heard me right $25,000.00 big ones.
Of coarse you have to want to live in the following zip codes 76131, 76137, 76133, 76123, 76179, 76112,76248 with the city of Fort Worth as your address (some of these might be Keller, Haslet etc zip codes as well if they are not really city of Fort Worth they do not qualify.)
You can't make to much money either 1 person can't make more than $54, 250 a year it goes up the more people in your family.
You have to purchase a lender-foreclosed home as well. That should not be to much of a problem since most of the foreclosures are in theses areas.
My whole team has been trained for this program and we have talked with Emily Weathers at Innovative mortgages who is an approved lender and knows how to get this loan done.
Add some BAM to your deal if you are a first time home buyer on top of that your friendly Federal Government is giving you another $8,000.00 tax credit if you buy prior to December 2009.
That is a great deal combined with the current cost of homes as well as the current interest rate. What are you thinking if you don't at least look into this deal?
Seriously, this is just to good to be true but it is the truth. Yes, there are some conditions that if you don't follow it is not a great deal so you must completely understand the transaction.
You need to find someone that won't take you down the wrong path with a home with major issues, not a good buy and that you are not fully aware of all the terms in which you must live by to do these programs.
Dude, you can put down any where between 10-20k down on the principle of the loan and you don't have to pay it back if you stay for 10 years. This is simple math my friends simple math.
I got the great pleasure to see Neil deGrasse Tyson speak last night at the Arlington Campus of UTA (for non Texans that is University of Texas at Arlington).
For those who do not know who he is shame on you. He is one of the most popular Astrophysicists of our time. He is not only a brilliant speaker but an amazing person that helps enlighten the people that prefer to stand in the dark.
I went there thinking he would talk about outer space, but instead was tossed into what and how we live today here in America and around the world. The things he spoke about shocked and even worried me a bit at first however, once allowed by my brain he opened my mind to a whole new realm of possibilities.
He spoke about the fact we have allowed our schools to dumb our children down not raise them up. The fact that we as a society know more about what Michael Jackson or Britney Spears is doing than how things work in our world.
A huge beef with me is the MEDIA. We in the real estate industry have seen the effects they can play. When you read headlines that are about the unimportant vs. the very important we have issues. The MEDIA today runs around and jumps on SOCIAL GARBAGE. If it bleeds shocks and is over the top well it is a headline.
But is the MEDIA to blame? Someone turns it on, pays to read it and pays to advertise next to it? Why? Because we have told them this is what is important to our lives.
What a sick and sad place our world has become. He was awesome at asking why have Americans stopped dreaming of the homes of the future, the cars of the future, where are the cool things we have to look forward too?
I was about 7 years old on my first trip to Disney Land I remember going through Magic Mountain and at the end you road a moving sidewalk through "The Home of The Future" I was so amazed by it. Cordless telephones, Telephones you could see people on the other end, Microwave ovens cooking your stuff in a flash, electronic window treatments, on and on. I just could not believe that it would ever happen. Well, look around it is here and now.
What is next is what is missing. Tyson was right. I can't remember the last time I saw something that amazing. Okay, the Iphone pretty cool, but you don't see things that really move us fast forwarded. Where are the Scientists of today, what are they doing and what are will the homes of the future look like?
Oh, and Space we think we are running out of real estate think again, look up the word Sextillion and get back to me on it and then realize there are that many planets and stars etc in our universe and that there are thousands of other universes like ours.
Gals and Guys we have stuff to sell till daddy takes the T-Bird away.
If you would like more information about this wonderful speaker he is on NOVA and Google his name. He is an amazing person and if you think my experience was just luck; well you're right there are only 600,000 Astrophysicist alive and over 6,000,000,000 people on the earth today so, they are ONE in a Million literally.
It was an event that will change my way of looking at things for the rest of my life.
I am a big dreamer and a big talker to say the least but I try really hard to share things that open, expand and encourage people to be bigger than themselves. I push myself all the time and get myself into things I have no idea what I am really doing but I figure it out. It makes me grow and learn. I encourage you do to the same. When we stop growing and learning we stop our universe and that is a huge issue.
I hope you enjoy coming and visiting my blog I hope in my little way I am doing the same for you.
"GOOD COMMUNICATION IS AS STIMULATING AS BLACK COFFEE...AND JUST AS HARD TO SLEEP AFTER." Anne Morrow Lindbergh And communication on the new $789 Billion Stimulus Plan has been flying fierce over the past week, resulting in late nights for Congress and probably more than a few cups of coffee. President Obama is certainly hoping the new plan will wake up the struggling economy, and breathe some life back into the housing market as well. The tax credit in the Stimulus Bill has been scaled down to $8,000 from its previous level of $15,000, or 10% of the value of the home for any first time homebuyers who purchase homes from the start of the year until the end of November. It starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000, and buyers will have to repay the credit if they sell their homes within three years. In addition, there's news that the Obama administration is trying to hammer out a new program to subsidize mortgages to fight the credit crisis. The plan would seek to help homeowners before they fall into arrears on their loans, whereas current programs only assist borrowers that are already delinquent. There are no details yet on this plan, but I will be monitoring this news closely in the weeks ahead.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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