Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®.

Existing-home sales dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010.

"Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained by the twin problems of unnecessarily tight credit, and a measurable level of contract cancellations from some appraisals not supporting prices negotiated between buyers and sellers," said NAR Chief Economist Lawrence Yun. "This tug and pull is causing a gradual but uneven recovery. Existing-home sales remain 26.4 percent above the cyclical low last July."

The national median existing-home price for all housing types was $156,100 in February, which is 5.2 percent below February 2010. Distressed homes - sold at discount - accounted for a 39 percent market share in February, up from 37 percent in January and 35 percent in February 2010.

Total housing inventory at the end of February rose 3.5 percent to 3.49 million existing homes available for sale, which represents an 8.6-month supply at the current sales pace, up from a 7.5-month supply in January.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.95 percent in February from 4.76 percent in January; the rate was 4.99 percent in February 2010.

According to the National Association of REALTORS®, existing-home sales retreated in October on the heels of two strong monthly gains.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, declined 2.2 percent to a seasonally-adjusted annual rate of 4.43 million in October from 4.53 million in September, and are 25.9 percent below the 5.98 million-unit level in October 2009 when sales were surging prior to the initial deadline for the first-time buyer tax credit.

Year-to-date there were 4.149 million existing-home sales, down 2.9 percent from 4.272 million at this time in 2009.

"The housing market is experiencing an uneven recovery, and a temporary foreclosure stoppage in some states is likely to have held back a number of completed sales, said NAR Chief Economist Lawrence Yun, adding that recent sales pattern can be expected to continue. "Still, sales activity is clearly off the bottom and is attempting to settle into normal sustainable levels.

"Based on current and improving job market conditions, and from attractive affordability conditions, sales should steadily improve to healthier levels of above 5 million by spring of next year."

The national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.23 percent in October from 4.35 percent in September; the rate was 4.95 percent in October 2009, according to Freddie Mac.

Many people think that trying to sell your home during the holidays is more difficult than at some other time of the year. This isn't necessarily true, as people are usually in a more cheerful and friendly mood during the holidays -- and possibly more inclined to buy your home -- if you stage it right.

The key is not to go overboard -- just like staging during other times of the year. Less is more, but you do need to convey a sense of the spirit of Christmas, or other holiday. Don't decorate with hundreds of Christmas lights because that may not match your potential buyer's tastes. You want to offer them suggestions so they can imagine their family in your home, come next Christmas. Here are a five tips that may help.

1. De-clutter first, then bring out your Christmas (or other holiday) ornaments and decorations and pack away the ones you won't be using.
2. A focal point of the living room could be a lovely Christmas tree. It can be real, or fake, but be sure it looks traditional rather than overdone.
3. Set up your dining table with a nice runner, creative centerpiece, and holiday-colored tableware. Candles and a garland work well for this decoration. If you have a staircase, you can twine a garland along the handrail for a special effect.
4. If you have a fireplace and mantel, play it up. Decorate it with stockings and little presents -- they don't need to be real. A cozy fireplace makes a warm and wonderful impression that potential buyers will likely remember.
5. Lastly, light a candle or two (only when you are present) which has the aroma of gingerbread, sugar cookies, or candy canes. Appeal to a buyer's senses (subtly) and you'll have them from the first moment they step inside your holiday home.

Hopefully, if your home is on the market this holiday season, these tips will help it sell. If you need any infpormation about homes in the Dallas, Lewisville, and Flower Mound areas, please visit www.Lewisville-FlowerMoundRealEstate.com.

Whether you have new floors or old ones that need cleaning, we can always use a few good cleaning tips to make our lives a little easier.   A new wave of thought is that natural is best, and this has been proven many times with people who have allergic reactions to chemicals, or who want to live a simpler and cleaner way of life.   Many of the best cleaning agents are things we already have around the house.

What types of flooring do you have in your house?  How old is it?  What's it sealed with (or unsealed).  How dirty are your floors?  Can you mop your wooden floors with a sloppy mop and soap (no!).  Here are a few simple tips for cleaning various types of floors.

* Bamboo -- Use a sponge mop that is dampened with warm water only (not sopping) and mop, then let dry.  If you have a stain, then follow manufacturer's directions. You can also find detailed cleaning solutions on the internet, or a specialty site for that product.
* Ceramic Tile -- Old fashioned soap and water work best. You can use a detergent that's eco-friendly and warm water, or even an old-time mop if you need too. Ceramic tiles wear and clean-up very well. Never mop unsealed Saltillo tiles, as these need a little extra care.
* Real Hardwood -- A teaspoonful or two of vinegar in warm water and a sponge mop will make your hardwoods clean and shiny. For stubborn stains, follow the manufacturer's directions.
* Carpet -- A carpet shampooer that you can rent or own works well -- follow directions for spot cleaning and try to get eco-friendly cleaners.
* Linoleum or Peel-and-Stick Tile -- Easiest to clean, just use soap and water.

If you don't know what type of flooring you have, take a guess and try an inconspicuous corner of the room with one of the above cleaning options. If your grout is dirty, and it has been previously sealed properly, then it will clean up. If it's old then it may need stripping, sealing or coloring.

I hope this information is helpful to you. If you are in need of any information about homes in the Lewisville-FLower Mound area, please call Phil at 972-439-98033 or go to www.Lewisville-FlowerMoundRealEstate.com. Thank You

The easiest and least expensive way to jazz up your outdoor deck or patio is by using splashes of color. Sometimes it only means investing in a few accent pieces that make a bold statement and freshens up the space. Following are some ideas to help get you started.

   1. First, clear everything off your deck or patio and give it a good pressure wash. If it needs staining, all the new furniture in the world won't help -- bite the bullet and give it a new coat of stain or paint. This is actually a great place to get started with colorful accents. Try painting your fence posts a bright, coordinating color. Or paint a pattern or border around the edge of your deck.
   2. Decks are for socializing, so show that you are ready for company. The addition of metal furniture is inexpensive and comes in lots of great colors. Place a colorful bar cart in the corner and load it up with bright acrylic glassware.
   3. Give your old wicker furniture a facelift by painting it in bright sunny colors, or if you're feeling adventuress, use a stencil and add flowers or other patterns. Use acrylic paint, but seal it with varnish to protect the paint.
   4. Get a hold of a galvanized bucket or oblong container, paint it bright blue or orange and add a vine pattern on the outside. Viola, now you have a fancy ice-bucket for all your coolers. Remember, unless you're using a food-safe paint, the surface should not come in direct contact with food.
   5. Use themes, such as the seashore, by incorporating fishes, sea shells and beach balls in your accents or stencils. A citrus theme works well by using pale greens, oranges and yellow as colors for chairs or bistro tables. Try painting a slatted table top with two or three different corresponding shades.
   6. Funky lighting goes a long way to jazzing up a patio area. Colorful lanterns or strings of lights can be hung from overhanging trees or beams providing a fun and economical source of lighting.
   7. If you have any plain white vinyl furniture, give it a fresh new look with paint specially formulated for vinyl furniture. Then, add some new cushions and your old chairs will look practically new.
   8. Use color wisely by tying everything together with your accessories. Take four chairs each painted in a different primary color and add a cushion in a common color such as red or green, and place them around a neutral table top.

With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.

NAR Chief Economist Lawrence Yun said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits.

“June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” said Yun. “Broadly speaking, sales closed after the home buyer tax credit will be significantly lower compared to the credit-induced spring surge. Only when jobs are created at a sufficient pace will home sales return to sustainable healthy levels.”

The national median existing-home price for all housing types was $183,700 in June, which is 1.0 percent higher than a year ago.

The national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.74 percent in June from 4.89 percent in May, according to Freddie Mac. The rate was 5.42 percent in June 2009.

In the Lewisville Flower Mound, TX areas, hpome sales have slowed considerably but we are optimistic that it will pick up soon.

If you are in the market for a lewisville-Flower Mound home, please call Phil or e-mail and we will help you get going.

If you're looking at a home that is part of a planned community or has a homeowner association (HOA), you should be aware of monthly or annual dues, rules regarding your property (pool, lawn decorations, landscaping, parking, fences, painting, pets), and any other rules they may have, or have the authority to make, in the future.

Many people enjoy living in a planned community because they feel safe and want to meet others in the neighborhood. Most planned communities organize several events throughout the year where neighbors can meet each other and have some local fun. Some of these communities have pools, tennis courts, walking trails, playgrounds, schools, parks and other amenities.

There are definitely both pros and cons to being part of a planned community that has bylaws and/or a homeowner association. It's really a personal lifestyle decision -- just be sure you know what you're getting into before you make a purchase.

If you are looking to buy a home in the North Texas area, please go to my website www.HomesinFlowerMoundTX.com for a great search engine. You can also call Phil at 972 439-9033 to set up a custom search. I also have a website that makes it easy to set up a custom search that will e-mail you when new listings go on the market. It is www.dfwpreferredbuyer.com. Thank you and have a great day!