Dallas Texas Real Estate Blog

1st Time Home Buyer Tax Credit - Take Advantage Now Before Time is Up

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 14 Aug 2008 18:19:06 -0500

Housing sales and pricing continue to fall raising many questions on how soon we can expect to recover. The government is slowing enacting legislatiion to bail the housing market out and restore balance to local real estate economies.

Recently, President Bush signed The Housing and Eonomic Recovery Act of 2008 which includes a new temporary tax credit to provide an incentive to purchase for first time home buyers.

Only 1st time home buyers are elgible for the $7,500 tax incentive and depending on income may only qualify for half or possible even no tax credit. Here is a basic guidline for determining elegibility. Offer expires on July 1st, 2009.

Single or Head of Household

Income < $75,000 = $7,500 tax credit
Income $75,000 -$95,000 = partial tax credit
Income over $95,000 = no tax credit

Married Filing Jointly

Income < $150,000 = $7,500 tax credit
Income $150,000 - $170,000 = partial tax credit
Income over $170,000 = not tax credit

For details on qualifying, please vist Dallas Fort Worth 1st Time Home Buyer Tax Credit

Car or Suv? Which is the better option?

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 26 Jun 2008 20:11:07 -0500

Rising gas pricing have definitely raised the question on what is the best solution for my automobile needs. Everyone seems to think the best option these days is to trade in the gas guzzling SUV for a more economical car, but is this really the best option?

Rising Gas Expenses have also placed automobile dealers in a predicament that might actually work to the consumer's advantage. Just today, GM's stock fell to the lowest dollar/share seen since 1955. In an effort to increase sales, profit margins and bail itself out of the bottomless oil pit, GM has taken the offensive and is now enacting special incentive programs to encourage consumers in the market to purchase an automobile to take action. For example, GM is now offering 0% financing for 72 months on select SUVs and Trucks. This is just one tactic to lure auto buyers into their dealerships and move inventory.

Dealers across the board are offering discounts and incentives to move the gas guzzlers off the lot and into the buyer's garage. Of course if you visit the lot and pass by the wandering salesman, you'll still get the ever so clever one liner, "We can't keep the trucks and suvs on the lot". One thing for sure, we all know now is not a good time to be selling a truck or SUV, with low consumer confidence, high gas prices, and low gas mileage, you just can't win.

So when comparing advantages and disadvantages of purchasing a car or suv/truck, be sure and consider the following points:

Weigh benefit, cost, value and expense in monthly, annualized, and life terms
If you are self employed, such as a Fort Worth Real Estate Agent or Dallas Realtor, consider the tax write off you may claim with additional gas expense, could help place you in a lower tax bracket and end up saving you thousands in the long run
Compare annual gas expenses with upfront initial savings
Always take a closer look at Warranties, a 100,000 mile warranty on a truck or SUV might save you thousands in expenses down the road compared to a 50,000 mile warranty on the gas efficient car you have in mind.
Ask yourself this question, Are car sales managers going to negotiate more on a Truck or SUV that are difficult to give away in the current market or a gas efficient car that everyone is beating down the doors to buy?
What is your ultimate financial goal? To save money in the Short run? Save Money in the Long Run? Or secure comfortable monthly payments?
Always compare apples to oranges with emphasis on interest rates, trade in value down the road, monthly and annual expenses including gas and repairs (remember these may be minimized with extended warranties

So, in conclusion, I ask everyone the million dollar question, Car or SUV? Welcoming your comments, feedback, suggestions, and insight into the Automobile Industry....

For More Information on this article, please contact our Dallas Fort Worth Real Estate Brokerage.

DFW Urban Realty Launches New Fort Worth Real Estate Site

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 17 Jun 2008 01:25:42 -0500

DFW Urban Realty launches new Fort Worth Real Estate site to better serve the Residential and Commercial Market throughout the Fort Worth Metroplex. With over 700,000 residents, Fort Worth has a growing demand for agents who specialize in urban property sales. DFW Urban Realty expanded into the Fort Worth market to meet these demands by providing assistance buying, selling, renting and investing in all types of Fort Worth properties including, Homes, New Home, Townhome, Condos, Lofts, Highrises, Aparments, Lots, Acreage, Warehouses, Farm & Ranch, Retail, Industrial and Office Building and Complexes. After successfully integrating www.buyandselldallas.com into DFW Urban Realty's profile, DFW Broker Kenneth Cox new it was time to take another step and create a site devoted to Tarrant County Real Estate.

If you are looking for a Fort Worth Realtor who specializes in your area, contact DFW Urban Realty today and let us assist you with your next real estate transaction in Fort Worth. DFW Urban Realty has Fort Worth Sales and Rental Agents ready to assist around the clock with all your Fort Worth Real Estate needs.

Our Fort Worth Apartment Locators know the Fort Worth renal market and are able to find you special incentives and discounts that may not be listed online. We even offer up to $500 cash rebate for referring our free rental locating service.

Check out the quick reference guide below to assist with navigating through the new Fort Worth Real Estate site. Please call or email if you have any questions over Fort Worth Real Estate or have a comment or suggestion on the new site.

Flower Mound Real Estate - Flower Mound Summer Concert

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 05 Jun 2008 03:33:17 -0500

Flower Mound Real Estate has become a popular place for relocation offering many different housing options including New Homes, Townhomes, Condo, and Lakefront Living. Many residents have moved to Flower Mounds central location because they enjoy easy access to Downtown Dallas, North Dallas, Fort Worth, DFW Airport, University of North Texas Denton. Flower Mound offer suburban living close to urban living, fine dining, shops, entertainment, interstates, and lakes. Residents have access to state of the art Golf Courses, Lake Lewisville, Lake Grapevine and other entertainment venues.

Economic Development has steadily increased in both commercial and residential markets in Flower Mound over the past several years. Many new Retail, Restaurants, and other local businesses are taking advantage of the significant increase in population which is allowing them to capitalize on a large pool of customers. Locals to the Flower Mound area are happy to be living in what they call the new generation suburban lifestyle which encompasses Flower Mound Real Estate, Double Oak Real Estate, Lewisville Real Estate, Lantana Real Estate. These areas offer a happy medium between sub and urban combining characteristics of both lifestyles.

If you are interested in learning more about Flower Mound and the different housing options available to you, contact DFW Urban Realty and let one of our expert Flower Mound Realtors assist you. Our Flower Mound agents works around the clock and would be happy to answer any questions you may have on real estate in Flower Mound or the surrounding areas.

Don't forget to check out the Flower Mound Summer Concert Series which will feature The Texas Connection in Parker Square. For More Details, check out information below.

Town of Flower Mound Concerts in the Park featuring The Texas Connection

The Town of Flower Mound will be holding a community concert in the park from 7:30pm - 9pm. The event will feature music by The Texas Connection www.thetexasconnection.net. Concert Flyer - Bring your lawn chairs and blankets and join us for a great evening of music and family fun. If you would like to be a sponsor of this great event or need more information, please contact Wendy at 972-874-9700.

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North Dallas Real Estate - Remains Stable in the Midst of National Foreclosure Crisis

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 14 May 2008 14:42:21 -0500

In the midst of a national foreclosure crisis, North Dallas Real Estate continues to appreciate in most areas and show signs of growth. New Construction and Pre Owned North Dallas Homes For sale have been receiving a significant amount of traffic coming into the summer season. Owners have been able to secure a reasonable sales price on their current investment which has allowed a smoother transition into their new home. If you are able to make a move, now is an excellent time with the current buyer's market offering historically low interest rates and a large pool of housing inventory to choose from.

Of course, no market is immune to the foreclosure epidemic which has spread throughout the nation. If you are an investor looking for a bargain, Carrollton Real Estate, Plano Real Estate, Addison Real Estate and Richardson Real Estate offer excellent opportunities to build your investment portfolio. Although these areas on average have held strong through the mortgage crisis, there are many VA, FHA and Bank Foreclosures that could potentially be your diamond in the rough. Many investors are buying up foreclosures in these areas and converting into rental income hoping to ride the market into appreciation down the road. With rental occupancy rates on the rise, this seems to be a very good strategy. North Dallas Apartments and Homes being leased by individual owners are in high demand which allows a unique opportunity to capitalize on rental investment properties.

For More Information on the North Dallas Real Estate Market and to search available properties, visit North Dallas Real Estate or just click on start below to search North Dallas Homes, Townhomes, Condos, Lofts, and Highrises.

North Dallas *Lofts For Sale*
North Dallas Condos For Sale
North Dallas Townhomes For Sale
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Frisco Real Estate - Frisco Texas Reaches 100,000 Population Milestone

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 08 May 2008 17:27:47 -0500

Frisco Real Estate has become one of North Texas's hottest commodities sttracting home buyers from around the globe. Frisco Real Estate continues to grow at an astounding rate, recently reaching the 100,000 population milestone. Frisco has evolved from a small town with an estimated population of approximately 34,000 in 2000, to a robust urbanized city. In 2007 Forbes named Frisco as one of the fastest gowing cities in the United States.

Frisco offers master planned communities, state of the art sports facilities, top rated public school systems, convenient access to Dallas Fort Worth Airport and Downtown Dallas, and an endless supply of hot spots for fine dining, shopping and entertainment. Many home owners are relocating to Frisco and taking advantage of a wide array of housing options including Homes, New Homes, Condos, Townhomes, and Urban Lofts. Frisco is home to many corporate headquarters and major employers including Ge Capital, The Dallas Stars, IKEA, T-Mobile, and Fujitsu. Frisco offers excellent opportunities for small businesses and large corporations with plently of available land and low cost of living.

Here are just a few of the main attractions in Frisco City Residential Life:

Dr Pepper StarCenter
Pizza Hut Park
Frisco Sports Complex
Dr Pepper Ballpark
18 hole Golf Courses
Superdome
Warren Sports Complex
Frisco Square
Sierra Frisco
Stonebriar Commons on Legacy
The Shops at Starwood
The Shops at Preston Ridge

If you are interested in relocating to Frisco or learning more about the housing options available, please contact DFW Urban Realty. We have Frisco Realtors specialzing in both commercial and residential real estate. For a quick glimpse of housing options including Frisco Homes For Sale, click on Start below.

Frisco Homes For Sale
Frisco New Homes For Sale
Frisco Lofts For Sale
Frisco Condos For Sale
Frisco Townhomes For Sale
Frisco Apartments For Rent

Turtle Creek Real Estate - Home Tour featuring Turtle Creek Highrises

DFW Urban Realty (Dallas Fort Worth Real Estate) — Mon, 28 Apr 2008 18:32:53 -0500

Turtle Creek Real Estate Tour

Experience the luxury of Turtle Creek. The Turtle Creek Association is hosting its 8th Annual Turtle Creek Hour Tour on May 4th from 1:00-5:00p.m. The tour will highlight four Luxury Turtle Creek Highrises and one townhome located in the Turtle Creek area. The public is invited to check out the ritzy and luxurious ambiance offered by the Turtle Creek Lifestyle. Funds raised by the tour will be applied toward the Master Plan Vision developed by TCA and to preserve and protect area parks, creeks, landscaping and infrastructure. Refreshments will be provided at 3000 Turtle Creek Blvd, a 200 million dollar development by Hyatt. The property will feature 273 residences, four resaurants, cocktail lounge, indoor heated pool, exercise room, beauty salon, library, art gallery, and a spa all located on a acre site. Turtle Creek Real Estate offers beautiful landscaping, eclectic design, and architecturally significant homes.

Turtle Creek Real Estate Featured in Home Tour: (click to view properties for sale)

The Plaza at Turtle Creek I - 3535 Gillespie

The Goldcrest - 3601 Turtle Creek

3525 Turtle Creek

The Vendome - 3505 Turtle Creek

Place Des Vosges - The Place des Vosges is a 16 residence community in Dallas located off Turtle Creek Boulevard. The residential community was named after the Place des Vosges in Paris, which was originally constructed by King Henry IV in the 17th Century. The structure is an early example of urban community design with a symmetrical square surrounded by buildings with red brick and white stone. Other features include slate roofs and dorm windows. The Place des Vosges features a park within an interior common area surrounded by a wall with 24 hour onsite security. For more information, visit Place Des Vosges Dallas

For More Information on this Tour, please contact DFW Urban Realty

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Buying a Home in Dallas - The Right Home at The Right Price

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 23 Apr 2008 18:49:34 -0500

Purchasing the right home at the right price can be a simple and enjoyable experience as long as you have the right tools and resources to guide you through the purchase process. Anyone can find a real estate agent, locate a property and buy a home, but many loose sight of the most important goal in the process. Your ultimate goal should be to secure the right property, in the right location and at the right price to ensure you've made a great investment. In a buyer's market, every home buyer should act as an investor and follow all the right steps to close on a great investment property. As a home buyer, you are investing on one of the highest dollar transactions you will make in your lifetime. As an investor you want to ensure when you make your next high dollar purchase, you can capitalize on your initial investment. By following four simple steps, you can make a complex home purchase, a simple and lucrative investment.

1. Consider All Your Options - Distressed Properties, Foreclosed Properties, New Construction Properties, Pre Owned. Be sure to consider multiple options and compare these options line by line before moving forward with an offer. When choosing which property to move forward with, don't base your decision entirely on emotion. As a home buyer you need to be comfortable with the property you are purchasing and going to live in for the next several years. As an investor, you need to be weary of the carry costs, maintenance fees, and upkeep of the property as well as the potential for appreciation down the line when it's time to sell.

2. Do Your Due Diligence - Review Sellers Disclosures, Review CMA comparing recent sold properties in the neighborhood, Review your Home Inspection Report. Hire the necessary inspectors to conduct a complete and thorough evaluation on the property. Some inspections you might want to explore are the General Home Inspection, Termite Inspection, Roof Inspection, HVAC Inspection, Plumbing Inspection, Electrical Inspection. Remember, just because a property has problems doesn't mean it is not a good investment. If you discover potential issues, hire the appropriate contractors to give you estimates (at least 3 different estimates) and compare costs/benefits associated with your purchase. If you can invest a minimal amount and produce a great short or long term return, you may have found the right property.

3. Negoitiate and Close - Find a good seasoned agent who understands local market conditions and have them negotiate the best terms and price on your investment

By following these steps on properties you are considering for purchase or investment, you should be able to filter out the potential headaches and zero in on the diamonds in the rough. In a buyer's market, you hold all the cards. Be sure and let the seller know that you are aware of the current market conditions and have multiple options on the table! The Dallas Home Buyer's Market offers many different housing options such as Homes, Condos, Townhomes, Highrises and Urban Lofts. All of these types of homes can be a great investment just by securing the Right Property at The Right Price! For More Information on Buying a Home in Dallas or investing in Dallas Fort Worth Real Estate, contact DFW Urban Realty.

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Addison Real Estate - Addison Circle District A - 15777 Quorum

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 10 Apr 2008 16:08:39 -0500

Addison Real Estate - Addison Circle Apartments - 15777 Quorum

Addison is located in the heart of North Dallas, convenient to Dallas North Tollway, I635, and I75. Residents enjoy a vibrant urban atmosphere close to Downtown Dallas and other popular suburban areas such as Carrollton, Plano, Richardson and Farmers Branch. Addison Real Estate offers many different styles of homes including Highrises, Condos, Lofts, Townhomes, and Apartments.

Addison Circle offers a place to work, live and play. Residents enjoy curbside dining, professional services, local pubs, parks. Addison circle offers many different styles of living including Midrise Condos such as 5055 Addison Circle, Urban Apartments such as Post Addison Circle, and three story townhomes located in the newly developed Addison District A.

One of the newest luxury urban rental communities in Addison Circle, 15777 Quorum, is now preleasing for June 2008 Move ins. Units feature GE Stainless Steel Appliances, Granite Countertops, Garden Tubs. Amenities include 2 pools, Athletic Center, Business Center w/FREE Wi-Fi access. Take advantage of pre construction specials, 2-6 weeks free on select urban apartment units.

For More info on Floorplans, Pricing, Availability visit: 15777 Quorum Floorplans Pricing Availability

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Carrollton Real Estate - Entering Centennial Phase

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 09 Apr 2008 02:56:51 -0500

Carrollton was recently ranked #19 out of 100 cities as the best places to live by CNN Money Magazine. Residents enjoy a quiet and friendly suburban setting in Far North Dallas minutes from major highways such as Dallas North Tollway, George Bush, and I35 that allow quick access to areas such as Downtown Dallas and DFW Airport.

Carrollton has a rich history dating back to the 1840's and was voted to incorporate as a city on July 19, 1913. After 100 years plus of history, Carrollton is now entering its centennial phase with certain commercial and residential real estate turning 100 over the next few years.

Recently, The Bank of Carrollton building, located in downtown Carrollton Square, reached the 100 mile mark on April 03, 2008. The Bank of Carrollton building has housed many business over the years and is currently home to Sooz Unique Boutique and Carrollton Square Spa. The Bank of Carrollton building received a Historical Marker designation by the Historic Preservation Advisory Committee after 100 years of service since the construction of the building in 1908.

Many investors and local residents are relocating to Far North Dallas and are considering Carrollton Real Estate due to the vibrant corporate and residential community atmosphere. Residents are also anticipating using Dart's new light rail transit line with three station sites to be completed by 2010. The Downtown Station is expected to promote residential and commercial redevelopment with mixed use urban design including Carrollton Homes, Condos, Townhomes, and Lofts.

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Las Colinas Real Estate - La Villita at Las Colinas - Master Planned Community

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 08 Apr 2008 15:46:58 -0500

La Villita at Las Colinas has become one of the most popular communities in the DFW area. La Villita offers one of the best locations in the metroplex minutes from DFW Airport, Downtown Dallas and Fort Forth with convenient access to I35, I635, George Bush Turnpike. Residents enjoy a beautiful ambience centered around a lake, two canals, trails and parks. Las Colinas Real Estate continues to attract local home buyer and out of state investor interest as one of the most highly desired areas to relocate in the Dallas Fort Worth area with one of the best Master Planned Communities around.

La Villita offers many different housing options including homes, townhomes, and apartment living. Offering Spanish/Mediterranean and traditional architecture with features including tile roofs, stucco, stone, wrought-iron and cedar decorate.

If you are looking to purchase Las Colinas Homes For Sale, there are many different builders offering a variety of floorplans to fit your needs. Las Colinas New Home Builders include K. Hovnanian Homes, Darling Homes, Pasquinelli-Portrait Homes, and City Homes offering many different floorplans and options for home buyers. Prices range from the low $200's and up to $600's depending on square feet, location, and finish outs.

If you are looking to rent at La Villita, there are many options offered by Amli and Lincoln properties with over 1,375 apartment units. The Landings at La Villita, formerly Lincoln at La Villita and Mission at La Villita offer one, two and three bedroom floorplans.

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Plano Real Estate - Legacy Town Center Apartments

DFW Urban Realty (Dallas Fort Worth Real Estate) — Mon, 07 Apr 2008 12:18:11 -0500

Denver Developer UDR, Inc. acquired the Legacy Town Center apartments from a local development and investment partnership earlier this week. This will go on record as one of the largest apartment buys in the North Dallas suburbs. More than 1,000 luxury urban-style rental units were purchased in the $100+ million range. These Plano Urban Apartments are surrounded by shops, homes, and commercial offices on the east side of the Dallas North Tollway at Legacy Drive. The Legacy Town Center apartments are located next to the Marriott Hotel and are currently 95 percent occupied.

Interested in learning more on Plano Real Estate and the award winning Legacy Town Center properties. Contact one of our Plano Apartment Locators today to check on current availability. Our Plano Realtors specialize in Plano Homes, New Homes, Condos, Lofts, Townhomes and Apartments. To access our apartment database and search Plano Apartments directly, visit: Plano Apartment For Rent

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Downtown Dallas Real Estate - Time to Invest

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 01 Apr 2008 00:52:55 -0500

Downtown Dallas Real Estate is a great place to invest for those looking for primary residence and investment. The current buyer's market has created optimal conditions for those looking to purchase homes, condos, townhomes and lofts in the Uptown, West Village, Turtle Creek, Knox-Henderson, Oaklawn area. Downtown Dallas Home Builders are offering some of the best incentives seen in years due to a surplus in inventory and loan obstacles created from the mortgage lending crisis.

West Village Real Estate offers trendy bars, boutiques, cafe patios, live entertainment, theaters, in an ultra trendy setting surrounding by modern living.

Uptown Dallas Real Estate also has created a buzz for local urbanites looking for the Soho style living offered in New York. The urban districts in Downtown Dallas have continued to grow and sustain life even through the market downturn which has weighed heavily on suburban areas such as Frisco, Mckinney and Allen.

Turtle Creek Real Estate offers luxury highrise living, three story townhomes with rooftop balconies, modern community style condos, and urban lofts. All of the Downtown Dallas Districts have continued to grow and sustain life even during the downward turn experienced by more suburban areas.

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Dallas Real Estate

Increase in Existing Homes Sales - Signs of Market Stabilization

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 26 Mar 2008 03:21:52 -0500

According to NAR Chief Economist, Lawrence Yun, the latest information on existing home sales confirms stabilizing trends. Existing homes sales increased 2.9% in February. With sales still down over 24% from February 2007, the market is still on the road to recovery.

Regional sales changes from a month ago:

In the Northeast Region, sales rose 11.3 percent
In the Midwest Region, sales rose 2.5 percent
In the South Region, sales rose 2.1 percent
In the West Region, sales fell 1.1 percent

Reports on median national home prices fell to $195,900 in February, down 8.2% from 2007. Reports are indicating a surplus in inventory around 9.6 months which presents optimal conditions to purchase and points toward a ongoing buyer trend in the coming months.

Condo Sales performed better than single family, which hints toward a strong investor market as opposed to owner occupant buyers. This is clearly the case in Downtown Dallas, where condo, townhome, and loft new construction sales continue to out perform existing home sales.

Existing home sales are anticipated to remain similarly soft through the first half of 2008. FHA loans will play an important role in lifting sales later in the year, but many lenders first need to get HUD approval. The FHA loan market share was only 2 to 3 percent in 2007 and any return to its historic market share of 15 to 20 percent will greatly revive home sales. Moreover, a recent law permitting Fannie and Freddie to pick up loans in excess of the $417,000 limit will help lower interest rates on many jumbo loans. The economy is also anticipated to pick up momentum in the second half of the year, which will help lift consumer confidence.

For a detailed analysis on existing home sales and a breakdown of sales by major regions and property types, visit: Existing Home Sale Rise in February

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Dallas Real Estate

Declines in Commercial Real Estate Investment - March 2008 Report

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 13 Mar 2008 12:17:19 -0500

Investment in commercial real estate has decreased to levels not seen in four years. Many analysts report that lack of capital is the major contributor for the decline in investment due to constraints placed by Banks and other sources of equity on lending for commercial real estate. NAR reports this is not the case and the decline in commercial real estate investment can be linked to a lack of confidence by investors and lenders who are leery about current market conditions and are waiting to see more positive signs of life in the economy.

For more information visit: Commercial Real Estate Outlook March 2008

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NAR acquires ePropertyData for National Commercial MLS Database Search

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 13 Mar 2008 11:58:00 -0500

In a press release dated March 7, 2008, The National Association of Realtors annouced Second Century Ventures acquired eProperty Data, a major provider of commercial information exchange services for the commercial real estate industry. Second Century Ventures, a private equity fund was conceived to help support NAR members in emerging technologies and services.

Through this merger, NAR will provide its members with two important services:

1. a robust national commercial real estate listing and transaction platform
2. a broker-centric provider of solutions for the commercial information exchange industry

Commercial realtors will receive many benefits from this service including national exposure for all their sale and lease listings as well as providing a trusted resource to search properties across the country.

The new listings and transaction platform will be located at www.commercialsource.com. This site is expected to become the primary source for commercial real estate information on the net.

For More information visit: NAR Commercial Real Estate

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HUD Releases FHA, Fannie Mae, Freddie Mac Loan Limits

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 06 Mar 2008 17:08:21 -0600

The new loan limits for FHA and Fannie Mae and Freddie Mac are now calculated at 125 percent of the HUD published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750.

We expect the impact of these loan limit increases on the housing market to be significant because of the infusion of capital into the mortgage market, which should result in lower interest rates across the board. In addition, there will be a direct impact on high-cost areas that previously required borrowers to take out costlier jumbo mortgages.

As NAR research points out, increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of home ownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home. In addition, NAR believes that increasing the loan limits for Fannie Mae and Freddie Mac will bolster the housing finance market, which continues to be severely stressed, by providing an immediate infusion of much needed liquidity to the nation's mortgage market.

An economic impact study conducted by NAR in January 2008 estimated that increasing the GSEs' conforming loan limits would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000. In addition, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by two to three percentage points.

National Association of Realtors

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Fed Rate Cut Fails to Reduce Mortgage Interest Rates

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 26 Feb 2008 13:56:30 -0600

Federal Chairman Ben S. Bernanke who has historically been able to reduce interest rates faster than any Federal Rserve Chairman is having issues bringing down the cost of credit for American homeowners.

The average 30 Year Fixed Home Loan Rate rose .5+ percentage point during the past four weeks to 6.04%. Mr Bernanke is scheduled to face Congress Feb 28th and explain why long-term bond yields are moving in the opposite direction to the Fed Funds rate.

Lower Fixed rates will ultimately decrease foreclosures and increase consumer spending. More than two-thirds of American own their home, bringing the nation's total mortgage debt to $11 trillion. An estimated 1/3 of the loans are adjustable rate.

Check out Federal Reserve Fails to Cut Loans Rates

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NAR President Reports - Stimulus Package To Give Market a Boost

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 26 Feb 2008 12:56:53 -0600

President of The National Association of Realtors, Dick Gaylord, reports on the impact of the recently enacted Economic Stimulus Package. The stimulus package will include increases in both FHA and conforming loan limits and will be published by HUD within 30 days.

Ex. GSE Loan Limit Increases:

Washington D.C - $562,200

Boston - $538,683

Sacramento - $521,250

Check out the Video Economic Stimulus Package Market Boost

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Bush signs Economic Stimulus Package - Housing Reform

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 13 Feb 2008 16:46:09 -0600

This afternoon Bush will be signing the economic stimulus package in hopes of bringing our national economy back on track. The stimulus package includes tax refunds to most households and tax incentives for business investment.

This package also promotes the GSE and FHA limit increase. The government is expecting an additional 300,000 homes sales from an increase in the GSE. The FHA loan limit increase is expected to allow an additional 138,000 Americans to purchase homes and over 200,000 will be able to refinance to a more secure and affordable loan program.

Dallas Texas Real Estate

Collin County Realtor Association 2008 Forecast

DFW Urban Realty (Dallas Fort Worth Real Estate) — Wed, 06 Feb 2008 15:49:25 -0600

The Collin County Association of Realtors recently reported good news for the DFW area. Sources indicate real estate market conditions might not be as bad as everyone thinks, especially in North Texas.

2007 A Relatively Stable Real Estate Market for Collin County and Surrounding Areas

2007 proved to be a relatively stable housing market for Collin County and parts of surrounding Dallas, Denton and Grayson Counties. Despite the national downturn, our local real estate market experienced only a small percentage of decline, according to the Collin County Association of REALTORS^®(CCAR) based on data from the North Texas Real Estate Information Systems' Multiple Listing Service.

The CCAR Pulse, which delves into the real estate markets of 35 communities in Collin, Dallas, Denton and Grayson Counties, reports that our area currently does not have an oversupply of homes as one might expect in a down real estate market. Rather, in the month of December, we maintained a balanced supply of homes and a steady mortgage rate.

While December's new listings and sales were down from a year ago, sales prices are holding strong with median sales prices down slightly by 2 percent and average sales prices up by 4 percent. Homes in our area also remain very affordable, with the affordability index at 134. This number indicates that the median family income is 134 percent of the income necessary to qualify to buy a median priced home with a 20 percent down payment and a 30-year fixed rate mortgage.

"We are expecting a very good year with the real estate market getting back to its traditional cycle of heavy activity in the spring and summer," says Jacob Narisi, 2008 CCAR president. "I strongly suggest that if anybody wants to sell or buy a home now is the time to start looking, spring is almost here."

Last year also saw the median sales price of homes increase, a trend that has been ongoing since 2002. Currently, the median price of a home in the area is $178,000, up 3.3 percent from 2006. In addition, houses were on the market an average of 73 days in 2007, which is up slightly from 2006, but still in line with what it has been for the last several years. In 2004, homes were on the market a lot longer, an average of 87 days.

"As you can see from the data, Collin County and surrounding areas have not suffered the major market adjustment as reported by the national media, nor have we been affected as much by the lending crisis. However, we have felt a small sting and we are working through it like everybody else," notes Narisi.

- Collin County Association of Realtors

Technorati Profile

2008 Tax Rebate - How much do you get?

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 05 Feb 2008 11:54:22 -0600

You could receive as much as $2100.00 in tax rebates from the federal government for 2008. This rebate is part of a federal simulus package intended to boost consumer spending. For those looking to maximize the benefit received from the federal tax rebate, check out 6 Smarter Ways to Spend Your Rebate. Suggestion include making an extra mortgage payment. An extra payment of $1,000 today could save you $4,000 over the life of a loan on a 30-year fixed 7% rate.

Tax Rebate Proposed Schedule:

Married with 3 children - $2100

Individuals with Gross Income up to $75,000 - $600

Married Filing Jointly with an AGI up to $150,000 - $1200.00

Taxpayers with children receive additional $300/child

Workers who earned income of at least $3,000 - $300

Couples who earned income of at least $3,000 -$600

For More Information, visit: Tax Rebate 2008

Dallas Texas Real Estate

Protecting Homeowners - Sustaining Home Ownership

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 05 Feb 2008 10:40:15 -0600

The Most recent data indicates about 20% of subprime adjustable rate mortgages were ninety or more days delinquent as of November 2007, twice that of November 2006. Foreclosure were reported up 36% from 3rd quarter 2007.

Experts attribute foreclosure problems to abusive lending practices. The American Securitization Forum (ASF) and the Hope Now Alliance are leading the initiative to streamline the process for refinancing and modifying subprime adjustable rate mortgages. These groups have are proposing different solutions to bail out the mortgage industry such as issuing stricter regulations prohibiting abusive and deceptive practices in the mortgage market under the Home Ownership and Equity Protection Act (HOEPA).

For More information on the Current Mortgage Crisis and pending Proposals for Corrective Action, visit

Protecting Homeowners and Sustaining Home Ownership
Governor Randall S. Kroszner

Dallas Fort Worth Real Estate
Dallas Real Estate

Federal Reserve Board - Discount Rate Cut

DFW Urban Realty (Dallas Fort Worth Real Estate) — Tue, 05 Feb 2008 10:24:20 -0600

January 31, 2008 -

The Federal Reserve Board approved another .5% discount rate cut for Richmond, Minneapolis, and Dallas. Effective immediately the discount rate will descrease from 4% to 3.5%. Homeowners, including new purchasers and those refinancing, are hoping this will have an indirect effect on mortgage rates bringing the 30 year mortgage rate even lower surpassing rates from the boom in 2001-2005.

Federal Reserve Monetary Policy Releases

20 Billion Homeowner Bail Out Plan - Senator Dodds

DFW Urban Realty (Dallas Fort Worth Real Estate) — Thu, 24 Jan 2008 01:24:02 -0600

Senator Dodds in seeking a $10 billion to $20 billion dollar program to bail out distressed borrowers. Under this temporary program, the government would purchase distressed mortgages at discounts and finance them at 30 year fixed rate mortgages. This approach would also strengthen the Federal Housing Administration's role in mortgage lending by insuring loans converted from outstanding mortgages. The Bail Out Plan also calls for additional lending regulations and required disclosures.

With over 2 million home owners still expected to loose their homes in the near future, many agree that a government bailout is the only choice. Without a bailout, some fear additional pressure on the housing and mortgage industry will trigger a recession.

Senator Dodds - $20 Billion Homeowner Bailout Plan

Dallas Fort Worth Real Estate
Dallas Real Estate