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From 1998 - 2006, My family and I called South Florida, home. There have been very few times in my life I've felt I was in the right place at the right time. Miami for us was the epitome of timing. Year after year, from 2002 - 2006 we experienced appreciation on our investment homes the like of something I am not sure we will ever experience again.
We now live in Rockwall County, TX. The sixth fastest growing county in the country as reported by Forbes.com. While I do not believe it will be like what we experienced in South Florida, the growth here is explosive and is remarkably similar. It is my believe we are once again in the right place at the right time!
Now that I am officially a resident of Rockwall County and a Texas realtor, it is my goal to help combat all the negative press the real estate market is receiving and provide the optimistic facts. Here is another great piece of information I would like to share that I recently came across..
10 Fastest Growing U.S. Cities
The fast-growing areas in the United States are in the Sunbelt, with Texas leading the way, according to data released today by the U.S. Census Bureau.
Dallas-Fort Worth added more than 162,000 residents between July 2006 and July 2007, more than any other metro area. Three other Texas cities - Houston, Austin, and San Antonio - also were in the top 10.
Experts credit much of the growth in the South to strong local economies and housing prices that are among the most affordable in the United States.
A report earlier this month by Global Insight found that housing prices in the Dallas area were undervalued by as much as 30 percent.
Other areas experiencing growth included the New Orleans area, which is recovering from Hurricane Katrina and grew by 4 percent or nearly 40,000 people. During the same survey last year, the population of New Orleans dropped by nearly 290,000 people.
Meanwhile, Detroit lost more than three times as many people as any other metro area - its population declined more than 27,300. Other areas losing more than 5,000 people were Pittsburgh, Cleveland, Columbus, Ga., Youngstown, Ohio, and Buffalo, N.Y.
The 10 biggest gainers:
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My family and I moved here from South Florida a little over a year ago.
After years of struggling with city living and over priced housing it was time to find a new place to call home. A place where people are friendly, housing is extremely affordable, public schools are among the best in the state and the housing/job market is stable with a strong forecast for the future. Rockwall is that place, we love it and it is our new home. Now really is a good time and the coming months represent an excellent window of opportunity for both buyers and sellers:
* Forbes.com named Rockwall the 6th fastest growing County in the USA, Again!
* Forbes.com says Dallas and the Metroplex rank 4th as the most stable
housing market in the nation
* CNNMoney.com placed Rockwall # 22 of the top 25 counties in the Nation for job
Growth from 2000 - 2006. (37.4%)
* According to CNNMoney.com the Dallas/Metroplex real estate market
is as much as 16% under priced compared to the rest of the Nation
* Forbes.com Projects a 5.45% appreciation in home prices for 2008
* Rockwall boasts one of the lowest tax rates in all the Dallas/Metroplex
* Rockwall ISD is among the best in all of Texas
* Location, Location, Location, Rockwall is 22 freeway miles from Dallas
* While much of the Country is still experiencing home depreciation, Dallas and
Rockwall in particular continue to experience amazing growth and steady appreciation
* Interest rates continue to be near all time lows, with good chance they will drop again!
* 2007 will go in the history books as only the eighth time in the past 37 years
mortgage rates were below 7%.
*Texas is now the #1 state in the entire country for real estate investment.
The future looks bright for Texas and Rockwall is emerging as one of the premier cities for people looking for a new, great place to call home!
If you would like more information about our current market conditions and how they relate to you, please do not hesitate to call or e-mail me at 972-832-8398 or PhillipOwens.comI would be happy to tell you more and would love to show you. I look forward to being of further service to you.
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I just read an article from SOUTHWEST ECONOMY called "Texas Growth Slows But Remains Healthy". Some key points the article shared:
-The single family housing sector remains weak. Builders continue to pull back on new-home construction.
-Sales of existing homes remain on a downward track. Inventories of existing homes for sale have risen to just over the equilibrium mark of the six months.
-Delinquent subprime mortgages continue to inch up in Texas. The state's delinquency rate is higher than the national average, but its foreclosure rate remains below the nation's.
-The Texas economic outlook is positive moving in to 2008. Housing woes are beleaguring the national economy, but Texas markets, while weak, have held up better than many other areas of the country.
As a realtor, I think this is very important information to share with my buyers and sellers. There are many homes on the market, so it is vital to differentiate your home from others. There are several ways to do this, but the most important is having exceptional drive-up appeal, a non-cluttered home, and CLEAN!!!! I am still amazed at how many homes I visit where beds are unmade, dishes are left in the sink, garbage cans are overflowing, and dirty laundry is in piles where potential buyers can see. Pet smells are another turn-off, especially dirty kitty litter boxes - YUCK!!! Remember that in order to sell your home in this weak economy, you need to set your home apart from the others. Take a little more time each morning to straighten your home. Visit model homes in the neighborhood and try to mimick what you see. Wal-mart and Target have nice home decor departments, as do Ross, Marshall's and T.J. Maxx. Another store that has great home decor and storage solutions for less is Tuesday Morning. And remember that a little extra yardwork, some fresh flowers in containers by the door, a nice welcome mat and sparkling windows can make all the difference and not cost a lot of money.
Also, as realtors, we get calls frequently wondering why a listing hasn't shown. First of all, realtors spend a lot of money marketing a property, but if the home is the same as ten others for sale in the neighborhood, you need to consider your price and how you can make your home stand out. Offering home warranties or incentives to buyers is another great way to increase traffic to your home. Declining showings is also something else that amazes me. It isn't always convenient to show, but do your best to allow an agent to show your home when you are asked. The person she is bringing may only have one day to make a decision - this happens often with relocations.
Sellers need to understand that they play a vital role in the sale of their home. Realtors spend a lot of time and money marketing a property, but it is the seller's responsibility to have the home show ready and available to show at anytime. We have to work as a team to get the best results - SOLD!!!
Make it a great day!!!
All my best,
Laurey West
RE/MAX Platinum REALTOR/www.laureywest.homesandland.com/469-586-7596
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