Dallas, TX has been one of the fastest growing major metropolitan areas in the United States over the last few years.  The United States Census reported that between 2006 and 2007 more than 160,000 people moved to DFW where job growth and the local real estate market have both been relatively strong. 

WASHINGTON (U.S. Census Bureau) - Dallas-Fort Worth-Arlington had the largest numeric gain of any metro area in the United States between 2006 and 2007, according to estimates released yesterday by the U.S. Census Bureau. Three other Texas cities also made the top ten.

The population in the DFW metro area increased by 162,250. Number two was Atlanta-Sandy Springs-Marietta, Ga. (151,063), followed by Phoenix-Mesa-Scottsdale, Ariz. (132,513).

This is great news to home buyers and home owners in the Dallas, Texas area.  As jobs and population rise, the demand for existing homes increases directly.  With all of the delayed demand expected to surge back in to the local Dallas real estate market soon, the local economy in Dallas should see big benefits. 

Buy Now says BigDBlog.   www.4DallasHomes.com

Since January 01, 2008 the North East Dallas / Lake Highlands area has seen 92 single family residential homes sold with prices ranging from $68,000 to $503,000.  The vast majority of those homes were three bedroom homes with two bathrooms and two care garages.  There were as you would expect a reasonable number of four and five bedroom homes that sold as well.

During this same time frame in 2007, 135 homes were sold ranging from $45,507 to $480,000.  This documents the suspicions of many that even the Lake Highlands real estate market has slowed.  As you have read on BigDBlog before, this is mostly due to the public reaction to intimidating national media reports that the entire United States housing market is in crisis. 

Understanding that the factors affecting this supposed crisis are local and not uniform across the country, BigDBlog will quickly recap the reasons that Dallas, Texas and specifically Lake Highlands are in a great position for an immediate rebound to a stable and even appreciating local housing market with a few bullet points.

• Dallas area job growth is strong - Large companies are relocating to Dallas due to the relatively low cost of living and access to necessary resources in the financial and technical industries
• Dallas area homes never experienced the double digit appreciation that many other housing markets did.  -  If there is no inflated "real estate bubble," there will be no bust!
• Interest rates on mortgages are still very very low.  Many home owners can remember the 1980's when mortgage interest rates hit 15.8%.  Today's rates are under 6% and near all time lows. 
• This is the best opportunity to buy a home in a long long time.  Low rates + high number of homes on the market = lower overall home prices with lower overall payments.  This allows Dallas home owners to build equity and real wealth even faster.  That is the American Dream

Additional Data for your local real estate curiosity:

• Overall average price per square foot for North East Dallas and Lake Highlands is $104.53 so far in 2008
• Overall average days on the market for Homes in North East Dallas and Lake Highlands is 84
• Overall average percentage of original listing price received on home sales in North East Dallas and Lake Highlands is 98%
• Overall average original listing price for homes in Lake Highlands and North East Dallas was $231,335
• Overall average square footage for homes in Lake Highlands and North East Dallas was 2,156
• Overall average year of construction for homes sold so far in 2008 in Lake Highlands and North east Dallas was 1968

As usual, BigDBlog is happy to answer any of your Dallas, TX real estate related or random questions.

 Thanks for reading,

www.4DallasHomes.com

If you have ever lived in or around Lake Highlands in Dallas, Texas, then you know about the Lake Highlands Exchange Club.  They are well known in the community due to there tireless service to the people and schools in Lake Highlands.  The Lake Highlands Exchange Club sponsors scholarship programs for students at Lake Highlands High School, awards for students who display character and integrity in addition to supporting women's shelters and local law enforcement. 

In the works for the upcoming year are events ranging from a job fair for high school students to learn about employment opportunities to social outings to enjoy the fellowship of neighbors and friends. 

Saturday March 29, 2008 at Royal Oaks Country Club on Greenville Avenue, the Lake Highlands Exchange Club will be hosting a Casino Night and Auction in order to raise funds for its many local initiatives.  There will be many great prizes including all expense paid vacations, spa treatments and even a FREE residential real estate listing. 

For those men and women interested in learning more about the Lake Highlands Exchange Club and how their efforts affect real estate and home values in the Lake Highlands area, contact www.4DallasHomes.com.

BigDBlog

Spring is upon us here in Dallas, TX and while the weather is still catching up, the calendar never stops.  Many schools are out this week or next for Spring Break.  This is usually the beginning of the buying season for Dallas home shoppers.  While this week will most likely remain slow in the home buying department, the folks who are considering buying and selling will start to think about what might be in the next few months. 

Many families are out of town on vacation of entertaining children who are usually in school.  While this seems like a great time to look at houses, it usually doesn't translate into many homes getting sold.  As early as next week though, we should see a pic, up in the amount of showing activity that sellers are getting.  If you are thinking about selling your Dallas home, now is the time to think seriously about who you will hire to be your consultant during this process. Who will be your adviser.  You'll want to have your home on the market by April in order to take advantage of the Spring and early Summer buying markets.

Start fertilizing the yard, plant some colorful flowers near the front door and begin to declutter your home.  Spring cleaning is worth every penny and every second. 

Good Luck,

BigDBlog

Now is a great time to buy or sell a home in Dallas, TX.  People who used to mock Big D for our cattle, big hats and slower talk are now envying our steady real estate market, pockets of appreciating home prices and growing job market. 

Now with that said (written?) let's get to the point of how we can win in this real estate market.  It is all about value.  It is all about value.  Value is what it is all about in real estate.  You've heard it said that real estate is about location location location, but BigDBlog likes what Todd Dotson says.  "Price cures all."  Price is a quantified expression of perceived value.

 Dictionary.com Unabridged (v 1.1)

val·ue      /ˈvælyu/ [val-yoo] noun, verb, -ued, -u·ing. -noun

Remember that value is "relative."  Would you buy a 3,000 square foot home that has been totally renovated for 50% of market value even if it was twenty minutes out of the way?  Many people would.  Price can cure some location problems.  If you like a property and then quantify that into a price you are willing to pay for it, you know value of the property for you.  It might not be the same for everyone.  As a buyer, if you are borrowing money to purchase a home, your bank or lender will help you define value whether you like it or not.

As a home seller, you must remember that value is defined by the buyer.  Wait, let that soke in... And we're back.  Each prospective buyer will view your home through their own eyes with lenses shaped by his or her own needs, wants and understanding.  When selling your home, you are trying to find the buyer whose value determinants match up with yours.  This is not easy, and is a major reason that BigDBlog always advises that you find a knowledgeable and affordably priced real estate professional to consult with you and represent you in any transaction as a buyer or seller.

 Sellers, do not let a buyer's opinion of the value of your home offend you.  Either have your consultant clearly communicate the value of your home as you and he perceive it or move in and be deliberate about finding and attracting a buyer who shares your opinion on value.  There is no magic formula, and comparables are only indicators of value.  Appraisals are a raw guesstimate at best.

What is real estate all about again?

BigDBlog

The issue is out there and it needs to be addressed.  In many communities around the country, consumers have been pounding their fists against the table and some even their heads against the wall in frustration that they must pay six or seven percent to get their home sold.  Home sellers in Dallas, TX regularly comment that this percentage based commission is way too much to pay for the services that they need. 

In recent years, home sellers have even confronted agents with the issue that they can't afford to pay the commission based on lost equity in the home.  Other sellers still simply refuse to pay an agent $12,000 or more on the sale of their $200,000 home.  This is becoming more the rule than the exception that it has been for the last 20 years. 

In communities like Lake Highlands, the discount idea is really taking hold.  Home owners are taking notice of more signs and more SOLD signs from companies that charge less to sell your home, but still do everything that you need.  The use of discount or Flat Fee real estate agents and brokers has grown 300% in Lake Highlands for the past two years (since BigDBlog has been tracking.)  One glaring example of the success of the Flat Fee companies is a home that was listed and sold on Church Street just east of Audelia Road in February of 2008.  The home was listed and under contract within hours and closed within 30 days for a net full price offer to the seller.  Due to the broker charging a flat fee and not a traditional six or seven percent, the seller saved a substantial chunk  of money on the listing agent side.  In addition, the listing company (flat fee company,) also brought the buyer.  Since their model doesn't charge any buyer's agent commissions, the selle then saved the entire buyer's agent fee.  In the end, the seller saved over $8,000 dollars in real estate commissions and the buyers got a better than normal deal as well.  This is a true example of a win - win situation. 

While the traditional real estate community has not embraced limited service companies, they have accepted the flat fee companies fairly well.  Again in Lake Highlands, many listings are sold each year where flat fee companies cooperate with traditional offices to bring a buyer to their listings or to sell a listing to their buyers. 

In our wonderfully capitalist economy in the United States, this is a prime example of markets being efficient and consumers demanding a more affordable option.  As almost every other industry in America has been competitive based on price for generations, home sellers and buyers are finally seeing real estate companies supply a service to meet their reasonable demands.

Feel free to send questions as usual and of course comment at will.

BigDBlog

Big D Blog has written about the false panic coming from the media in regards to our local market here in Dallas Texas.  Well Dallas home buyers and sellers, here is some raw data to ease the pain even further:

30% of all homes in America are totally paid for with Free and Clear Title.

20% of all homes in America are owned by real estate investors and leased out to renters as income generators.

48% of all homes are owner occupied and those owners are current with their mortgage payments just like they promised their lender they would be.

2% of the homes in America are either behind on payments, involved in a "Short Sale," or have been Foreclosed on.  JUST TWO PERCENT

What are the reporters reporting about and the writers writing about....?  The measly two percent. 

While the issue of predatory lending and the personal irresponsibility of home buyers is a legitimate issue, most of us are right on track and shouldn't have to be beaten over the head with the depression stick every morning and night.  Most home buyers, especially in Dallas Texas, simply want a nice home in a safe area at an affordable price.  They want to buy that home with as little debt as possible and pay as little interest as possible on their mortgage.  In addition, thoughtful service and respect from service providers would be nice.

 Short and sweet news from Big D Blog

March 06, 2008

Richardson Independent School District hosted a professional development day for High School juniors from Lake Highlands High School, Berkner High School, Pearce High School and Richardson High School in order to stress the importance of preparing for college and employment.  Special guest speaker Todd Tramonte, Broker and owner of Assist-2-Sell Buyers & Sellers Realty, spoke about the importance of community involvement in both college admissions and the business world.

Mr. Tramonte stressed the importance of spending time and energy serving the community first out of a sence of duty and service and second out of ambition.  He told the students that you must find something that you are naturally gifted to do and have a true passion to pursue.  For Mr. Tramonte, his passion is delivering truth and direction to groups of poeple through writing and speaking. 

Todd encouraged the students to believe the often used saying that "you can do anything that you set your mind to doing."  He noted that many students feel that this statement is cheesy and overused, but commented that it is absolutely true.  He challenged the students to use community involvement and volunteerism to prepare for their future goals and to grow more personally. 

Students responded with many questions and were very appreciative of Mr. Tramonte's words of wisdom. 

As the Dallas housing market is poised for an early return to normalcy, the weather doesn't seem to want to cooperate.  Many are predicting a strong Spring buying season and a healthy summer as well. 

Dallas home buyers have been sitting on the sidelines for over a year listening to national media reports that the housing markets had all crashed and burned.  Dallas however held fairly strong, and recent reports show both Dallas and Fort Worth to be top markets in the country for buying a home.  With interest rates low and inventory high, all we need is a string of sunny days.

Green grass and a little color in the flowerbeds and Big D Blog believes that the buyers will hurry back and swallow up some of our excess inventory.  This means a healthy Spring buyers market and a stabilizing Summer real estate market.

As the Dallas home buyers begin to purchase property at a more normal pace, the amount of homes available on the market will decrease to a level more in line with the quantity of ready buyers.  The summer should then be a save market to both buy and sell.  Although that interpretation of the data makes the summer a seemingly better time to sell, many wise sellers will take advantage of a busy spring to generate many more opportunities to sell well. 

The market is ready, the buyers are ready and the sellers have been ready for too long.  All we need is a little sunshine.  Heck, we might even welcome the blistering hot days of Texas summers if it will hush the numskulls on the nightly news.

Reports show that more businesses moved to Texas from other parts of the country than to any other state in 2007. This isn't news to anyone who lives here in Dallas.  We've seen huge corporations fill up our previously vacant office space and mid size businesses build new space in our nearby suburbs.  Dallas has been a magnet for businesses due to our low cost of living and central location to the rest of the country.  As a strong banking and technology hub, not to mention Oil and Gas Giangs like ExonMobil and the newbies of the Barnet Shale, the Dallas - Fort Worth area is a great place to live and work.  With incredible facilities for the arts, museums that impress and world class sports facilities for the Dallas Mavericks, Dallas Cowboys, Dallas Stars and Texas Rangers, there is plenty to see and do.

With new businesses and jobs come home buyers.  This is one of the most noticeable reasons for Dallas' relatively strong housing market.  While other parts of the country are experienceing double digit price drops, Dallas is staying firm and in some places seeing some appreciation.  As the lending markets correct and the weather warms this spring, Dallas looks to be a very attractive place to own a home and or rental property.

Neighborhoods that have seen continued appreciation include:

Lake Highlands

Lakewood

Richardson

Highland Park

University Park

Uptown

Addison

Today, Texans are voting in record numbers.  For the first time in a long time, Texans are looking at a presidential primary where our vote will actually count.  While this has little to do with Dallas home sellers and even home buyers in Dallas, it has everything to do with Dallas residents as a whole.  Barack Obama and Hillary Clinton are fighting for every single Texan's vote in order to earn the Democrat nomination for President in November.  Obama has been riding a wave of positive media attention throughout an impressive eleven state winning streak while Clinton has been retooling and restating her clear message that she is the only candidate who will be ready on day one. 

Rush Limbaugh has advised conservative voters to cast their primary vote for Hillary Clinton in order to keep the Democrat race close and heated all the way to the National Convention.  If this were successful, Super Delegates would become the topic of choice for media and voters. 

John McCain, while receiving very little media coverage relative to the Democrat candidates, has continued to campaign as the Republican nominee even though he still needs delegates from today's races to shore that nomination up. 

No one expects Mike Huckabee to drop out of the race, but then again he can not possibly win.  He might however pass Mitt Romney in the delegate count to achieve a respectable second place finish.  This will benefit him in four or eight years when he is likely to run again. 

As for Mitt Romney, rumors speculate about his Vice Presidential chances and his future presidential aspirations as well.

Ron Paul, being from Texas, is still involved.  He has zero chance of winning the nomination as well and in recent weeks with less attention being given to the Republican race, has had little to do in the way of moving the debate towards smaller government and less regulation as he had been earlier in the race. 

I just voted and it took about 9 minutes.  It was a great experience and I feel very American.  You should too. 

VOTE,

its your choice,

but VOTE!

It used to surprise me that the average person doesn't know how commissions are really paid in a residential real estate transaction.  I've spoken with hundreds of home buyers who want to know how much their realtor is going to cost them.  I've even seen home buyers in Dallas Texas avoid using a REALTOR since they thought they would have to pay him or her too much money.

The truth is that a home buyer should never have to pay a commission to their agent.  In almost every market in America, the structure of a listing agreement provides that the seller of the home will compensate their listing agent.  That listing agent will then offer a portion of their total commission out to the agent representing the buyer.  For example, Tom and Betty hire Jim to sell their home.  Jim charges Tom and Betty 6% for his services.  When Frank, the buyer's agent for Michael brings Michael to buy the home, Jim splits his commission with Frank.  Jim earns the full 6% but then pays 3% to Frank.  The seller pays the commission. 

Home buyers should always use a REALTOR.  It won't cost a thing and there are way too many moving parts to a real estate transaction to attempt one without the assistance of a full time, didicated expert in the market. 

To find out more abou thow to avoid stupid mistakes when buying a home in Dallas, Tx, visit www.CharmingDallasHomes.com for a free report.