The population continues to grow in North Texas.
Dallas-Fort Worth placed among four other areas in Texas as the nation's top 10 growing cities. Census Bureau estimates recently released show that we added more than 162,000 residents between July 2006 and July 2007, more than any other metro area in the state. Houston, Austin and San Antonio also placed in the top 10.
Remember, REAL ESTATE IS LOCAL. People move to our area because of the strong local economies, cost of living, and the fact the have some of the most affordable housing the country. A report earlier this month by Global Insight found that housing prices in our area are undervalued by as much as 30 percent. This allows homebuyers more purchasing power where they can buy more home for their money than other cities in the country.
Economic drivers like the Barnett Shale, DFW International Airport and the other various major companies help to make our area thrive.
For more information visit www.GrahamStiles.com or www.cbdfw.com/GrahamStiles
The Barnett Shale is fueling growth throughout North Texas. A new study from the Fort Worth Chamber of Commerce and economist Ray Perryman found that the Barnett Shale pushed $8.2 billion into the local economy. This is a 50 percent increase over 2006. It has also created more than 83,820 jobs as well.
The Barnet Shale serves as a buffer to the North Texas area from much of the economic slowdown we've seen around the nation. The phenomenon has a multiplier effect on everything in our local economy especially real estate. This is good news for everyone, especially with the people who are relocating here because of business opportunities from the Barnett Shale.
For more information visit www.GrahamStiles.com or www.cbdfw.com/GrahamStiles
· For a high-priced home, 1% can make a big difference. A monthly payment on a jumbo 30 year loan of $729,000 at 7% would be $4,850. Monthly payments on a conforming loan of the same amount at 6% would be $4,371, a difference of $479
· The change in loan limits, which allows the federal housing agencies Fannie Mae and Freddie Mac to purchase or guarantee the mortgages, is intended to encourage lenders to write more mortgages because they can easily sell them to the agencies.
· It should also stimulate house buying and mortgage refinancing. As the thinking goes, once people start borrowing money, they will set back in motion the economic machine of brokers, agents and lenders that has been stalled for the past year and has helped stall the overall economy.
· Of all the various strategies proposed to help the housing market, many think this one has the greatest potential, particularly for luxury housing markets.
Take a look at NAR's new website, http://www.housingmarketfacts.com/. Also, read the news stories simply so you can understand what the media is saying, but in doing so it is also very important for you to understand all of the market facts. See Blanch Evan's article in today's RealtyTimes for more perspective on NAR and the media.
Yes, housing on a national basis is going through an adjustment, but just remember - Real Estate is Local, and locally, 2007 was our market's SECOND BEST YEAR ever. The North Texas MLS finished the year around $17.4 billion in sales, slightly south of our best year in 2006 when NTREIS reported $18.2 billion in sales in our area.
Real estate is a solid, healthy investment!
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