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The Market is Stable Here in Fort Worth

Our MLS, the North Texas Real Estate Information Services(NTREIS) reports that 4,490 houses were sold in January 2008. This is down 16% from January 2007. They also reported that home prices fell 1% from last year to an average price of $138,000. Our inventory is thinning out and there are more serious buyers who are finding outstanding deals. Our buyers are happy!

We had good news on the foreclosure rate as well. Texas ranked 13th with a monthly foreclosure rate of .163 which is lower than the national average of .187. The number of properties on which foreclosure filings were reported were down 0.2 from January 2007, while the rest of the country was up nearly 57%.

It's a wonderful time in Fort Worth to buy a home. There's a steady market with interest rates seeing low figures, the inventory outstanding. Fort Worth is a wonderful place to live with the great climate, cultural exhibits, sports venues, museums and the medical care is outstanding!

Consider making Fort Worth your home! You won't regret it...

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Linda Scanlan

Your Fort Worth REALTOR

817.262.9194

Linda@lindascanlan.com

Posted by Linda Scanlan ~Selling All of North Texas on 02/26/2008 03:19 PM

Comments (15)

straightforward, museums, sports

15 Comments on The Market is Stable Here in Fort Worth

Good for your market and people relocating!

02/26/2008 03:31 PM

by Celeste "SALLY" Cheeseman (RA), HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)

Hi Sally - It is a good market here and people are moving here in droves it seems like.

02/26/2008 04:09 PM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

Linda - It sounds like the market is getting a lot better. It's like that here also, the news will never report that.

02/26/2008 05:47 PM

by Nashville Real Estate - Larry Brewer (Keller Williams)

Linda, Connecticut is some what similar to where you are. Our sales were down 12% but our Medium Price was up 3%.

02/26/2008 06:12 PM

by George Souto (McCue Mortgage Co.)

Larry - Good news doesn't sell.

George - I think the market is stablizing in a lot of areas, but it's never talked about except here on AR.

02/26/2008 06:34 PM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

Hi Linda,

I'm up in Concord NH staying overnight in the Holiday Inn. I'm teaching all week and it's snowing out!!!

02/26/2008 07:37 PM

by Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer (Prudential Verani Realty/Hampstead)

Hi Moni - LOL is that more than 15 minutes away?? Sorry...I couldn't resist! As you know, I think snow is beautiful, but you guys have sure had your fill of it. I hope your ear is feeling better! Nothing hurts worse than an ear infection.

02/26/2008 08:15 PM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

Linda, I have never been this busy! We are fortunate that our market is stable too

02/27/2008 11:07 AM

by Debbie Malone, RE/MAX, Lynchburg, Smith Mountain Lake, Real Estate Agent (RE/MAX 1st Olympic, ABR, e-PRO, ASP)

Hi Debbie - People are coming out of the woodwork here. It's been nuts! Thanks for stopping by!

02/27/2008 01:30 PM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

And they don't have too bad of a Basketball team nearby either! - lol

03/06/2008 12:39 AM

by Todd Clark (Realtor), GRI (Washington Co, Beaverton, Oregon) (Kastings & Associates, Oregon)

Linda~Oh my, how did I miss this great post? This is excellent news and what optimism for buyers. Enjoy your day!

03/07/2008 08:06 AM

by Julie Neerings~Lifting Hearts ♥ Building Dreams~Utah REALTOR® (Keller Williams Salt Lake City)

Linda, this is excellent information, and I am forwarding it to my daughter in Arlington, TX. She came within a hair of buying a property in Arlington, but had a tough time finding enough data o support her curious mind about things like this.

Not sure if you posted this to Localism, but you should - we went on there to find someone, anyone, who "gets" that consumers want to know this stuff, and just didn't find it.

03/16/2008 07:17 AM

by Margaret Woda, Maryland REALTOR (RE/MAX VISION)

Margaret, your daughter needs to be careful about buying in Arlington. Jerry Jones is building his big legacy (the new Cowboys stadium) and feels the taxpayers in Arlington need to pay for it. There's also the Ranger's ballpark that takes a huge chunk of taxpayer's money.

I spoke to an elderly couple who had been long time homeowners in Arlington who are having a hard time selling their home because of all the high taxes. It doesn't affect them (except for the sale of their home) because they have the over 65 tax exemption, but it is hard on the market.

03/16/2008 07:26 AM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

Linda, looks like your market is recovering. The home buyers best get out there and make those offers while interest rates are low and the loan programs are available to get a good loan. So happy for you and Fort Worth that you have recovered so quickly.

03/22/2008 12:07 PM

by Sacramento Real Estate and Luxury Homes, Assoc. Real Estate Broker,Gena Riede (Remax Gold, Assoc Broker)

Gena, Fort Worth really didn't get in a depressed market like a lot of the country. We have a lot of people moving into our area each month because of the job market here and that helps a lot!! The only thing that is really suffering here is the exisiting home sales. Why buy used when the builders around here are practically giving their homes away and throwing in all the upgrades.

03/22/2008 04:18 PM

by Linda Scanlan ~Selling All of North Texas (Hall Team Homes)

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