We've been saying it for months. The nationwide housing crisis isn't "nationwide" at all. While Florida, California, Arizona and other areas have seen their hyper-inflated bubbles torn asunder, Texas (especially the D/FW area) has seen real estate values moving upward at a slow and steady, if unglamorous, rate for the past decade. And guess what? While buyers and sellers elsewhere now are being held on the sidelines by tumbling prices and ballooning inventories, Texas continues to do just fine.
We thought you'd like to see this latest endorsement of Texas real estate - this one from CNN/Money. They have joined the growing ranks of major media outlets that recognize the amazing value represented by Texas real estate and the wisdom of investing therein. Here's the link: http://money.cnn.com/galleries/2007/biz2/0709/gallery.boom_towns.biz2/index.html
If they gave prison sentences for crappy headline writing, the Fort Worth Star-Telegram would no doubt have somebody on death row by sundown.
At the top right corner of today's front page a teaser headline screams, "N. Texas home sales drop 19%." The only thing missing is three exclamation points to add negative emphasis. Then, at the top of the front page of the business section they sensationalize a bit more with: "Existing homes sales plummet in September."
Then, finally, in the third paragraph, writer Andrea Ahles makes passing mention of the fact that median home prices in North Texas are up 3 percent since September. Up three percent in the face of a national market that is facing the biggest drop in home values since the Great Depression. Now there's something a so-called "hometown" newspaper might find worthy of a headline. But, no. Instead, they take the lazy way out and continue serving up tired variations on the real-estate-sky-is-falling headlines coming from the media on the left and right coasts.
Andrea, please do me two favors. First, please start focusing on the tremendous value inherent in Texas real estate - North Texas in particular. Why not highlight the fact that Texas consistently dominates the list of most affordable housing markets in the country? Nine of the 10 most undervalued U.S. metro markets are here in Texas. (There are about 300 of them in the U.S.)
Or how about the fact that a 2007 report by Primacy, one of the top employee relocation providers in the world, ranks the Fort Worth/Arlington metro area as THE BEST place in the country for relocating families. The study ranks 150 large, medium and small cities based on quality-of-life items like climate, entertainment, arts and culture, and key real estate factors including home prices, property appreciation and taxes. And (Yippee!!) when all the stats were sliced and diced, Fort Worth/Arlington came out at the very top of the heap.
My point is that there's great stuff happening in North Texas real estate, guys, so please start trying to bring some balance to your coverage and start supporting your home team (pun intended).
Oh, and Andrea, I have one more request. When you get to the office today, please stop by and slap some sense into whomever is responsible for adding those brainless headlines to your articles.
You hear the network newscasters report the worst housing downturn in decades. You read the doom and gloom headlines in the Fort Worth Star-Telegram and Dallas Morning News. Too bad the reporters don't look right under their noses in NE Tarrant County and recognize the sky isn't falling -- at least not locally.
Need proof? How about this:
For the first nine months of 2007 there were 407 single family homes sold in Colleyville vs 403 during the same period last year. (So, unlike the headlines tell you, our sales volume is UP.)
And for the first nine months of 2007 the average sales price of homes is UP more than 15 percent from a year ago. In the first nine months of this year the average sales price of a Colleyville home is $532,922, compared with $462,338 for the same period in 2006.
All this and more add to our area's well-deserved reputation as one of the most desirable and affordable places to live in the nation. Oh, and by the way, I still haven't seen any bits of sky fall in my yard. Have you?
If you are one of the many Texans who are concerned about rising appraisals for property tax purposes, you need to be aware of what's at stake in the November 6, 2007 Constitutional Amendment Election. Ditto if you are a Realtor or any other kind of small business owner and don't want to be unfairly taxed ($600+ per year) on the use of your car.
The purpose of this post is to call your attention to a number of proposed changes to the Texas State Constitution that Texans will be voting on upon November 6. (FYI, early voting is Oct. 18 through Nov. 2.)
Here's what is going on: Of the total of 16 proposed Constitutional amendments that are up for a vote, no fewer than five are related to homeowners rights, while another one (Proposition 6)impacts you directly as a Realtor or small business owner. For your convenience I am passing along the Web address for an excellent document that discusses the rpos and cons of each of the propositions that will be on the Nov. 6 ballot.
You need to pay particular attention to the discussion of Prop. 6, and be familiar with Props. 3,5,7,8 and 9. I hope you find this info useful. It should also be of great interest to your clients.
If you are thinking about getting your home ready to sell, or planning a remodeling project, it’s important to know what’s hot in home styles and amenities. By putting your money into the rights aspects of your home, you can maximize the return on your investment. So what’s popular these days?
Sure, it's Texas, but Old-world styles are definitely “in.” What's more,it doesn’t seem to matter if you go for a French, Tuscan, English, or Spanish look. The secret is top-notch materials, workmanship and finish-out. Seems that classic styles will always resonate with buyers. Also, with NE Tarrant land becoming harder to acquire, old farmhouses and country cottages are perfect remodel candidates and prototypes for new homes. Indigenous materials, wood, stone simple floor plans, and warm colors seem to help people connect with nature and a calmer, simpler time.
These days, most NE Tarrant buyers are looking for four bedrooms, and at least two living areas. Formal dining rooms are still in demand, but formal living rooms are often converted to studies, libraries, or guest rooms. Thankfully, the visual and spatial relationship between family room and kitchen seems to be here to stay.
And speaking of kitchens, today’s buyers are savvy about kitchen workspace design and appreciate easy access to range, refrigerator and sink. Lots of counter space, deep drawers, two sinks, nearby extra refrigerator, and butler's pantries are all important selling points in area homes. Stainless appliances are still going strong and granite, marble and stone counters remain hugely popular in both kithcens and bathrooms.
I want to let you know about a unique new program we are extremely proud of. It's a program that provides cash contributions of up to $5,000 to SafeHaven of Tarrant County, the remarkable nonprofit organization that assists thousands of local victims of domestic violence every year.
Basically, the program allows anyone who buys or sells property using our services to have a donation of up to $5,000 made to SafeHaven in the name of the buyer or seller. The amount of the donation depends on the property's sale price. Both commercial and residential transactions qualify. Full details and a registration form are available online by clicking on the "SafeHaven Program" tab at http://www.burgeteam.net.
In announcing the creation of the program last month, Mary Lee Hafley, SafeHaven's President and CEO, pointed out that "Approximately 26,000 Tarrant County properties will change hands during the next year. Based on that fact, we urge our supporters to give serious consideration to this new program and the substantial benefits it is will provide to SafeHaven." As you may know, SafeHaven provides life-changing services to thousands of area residents though emergency shelters, outreach counseling and victim's assistance. Complete information is available at: http://www.safehaventc.org/.
So, if you (or a friend or neighbor) are thinking about a move, please give us a call today. As always, we pledge to provide exceptional real estate services. And now we offer our clients the satisfaction of helping one of the most important non-profit groups in North Texas.
FYI, I wanted to let you know about a new report that came out from The Worldwide Employee Relocation Council that ranks the Fort Worth/Arlington metro area as THE BEST place in the country for relocating families. The study ranks 150 large, medium and small cities based on quality of life items like climate, arts and culture, entertainment, educational opportunities, etc. The ‘07 report placed added importance on key real estate factors including home prices, affordability, property appreciation, taxes and rent costs. And (Yippee!!) when all the stats were sliced and diced, Tarrant County came out at the very top of the heap. You can check out the complete results at their Web site: http://www.primacy.com/resources/PRIM-5472.pdf
It's a question our clients ask all the time. So we are pleased to direct you to two of the most authoritative sources of information on the subject...
8 First is the annual "Cost vs Value Report" from Remodeling magazine.
The new report is available now and compares construction costs with
resale values for 25 common remodeling projects in 60 US markets.
P.S. If you (or a friend or relative) are thinking of buying or selling a home, please let us know. We can help take the headaches out of your next transaction.
I wanted to let you know about a brand-new report that ranks the Fort Worth/Arlington metro area as THE BEST place in the country for relocating families. The study ranks 150 large, medium and small cities based on quality of life items like climate, arts and culture, entertainment, educational opportunities, etc. The ‘07 report placed added importance on key real estate factors including home prices, property appreciation and taxes. And (Yippee!!) when all the stats were sliced and diced, Tarrant County came out at the very top of the heap. Check out the complete results here: http://www.primacy.com/resources/PRIM-5472.pdf
P.S. If you (or a friend or relative) are thinking of buying or selling a home, please let us know. We can help take the headaches out of your next transaction.
Mary Burge
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