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