Economic development leaders bullish on Dallas area
By Steve Brown / The Dallas Morning News
September 4, 2009
The Dallas-Fort Worth area is well-positioned to grow new business after the recession ends, economic development leaders predicted Thursday in a presentation to a local real estate group.
"We have a lot of things going for us," Karl Zavitkovsky, the city of Dallas' director of economic development, told executives at a meeting of the North Texas CCIM real estate property group. "I think we will come out of this earlier than elsewhere in the country and in a lot better shape."
North Texas is not at the epicenter of today's economic and housing downturn, as it was in two previous economic ones – the 1980s savings and loan crash and the more recent burst of the dot-com bubble.
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Tuesday, September 15, 2009
Friday, September 04, 2009
It's a Great Time for 1st Time Home Buyers
It's the best time ever for first time home buyers to buy a home. While the real estate market has experienced turmoil, the programs that have always been there to help first-time-home-buyers are still in place. (Bankrate.com) Combine the existing programs with low home prices and low interest rates and you have a formula for a successful first home purchase!
Federal Aid
There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."
Full Story Bankrate
Federal Aid
There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."
Full Story Bankrate
Dallas Area Home Listings Fall Substantially
SOURCE: DALLAS NEWS
"North Texas homebuyers who are hoping to find a huge supply of houses for sale may be in for a surprise. While many markets in Florida and the West are suffering from a surplus of for-sale signs, the number of houses available in the Dallas-Fort Worth area has fallen substantially in the last year.
The supply of pre-owned homes for sale is down almost 17 percent from this time last year and has fallen by a quarter from the summer of 2007.
The drop in inventory of newly built homes is even steeper – about 50 percent since mid-2007."
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"North Texas homebuyers who are hoping to find a huge supply of houses for sale may be in for a surprise. While many markets in Florida and the West are suffering from a surplus of for-sale signs, the number of houses available in the Dallas-Fort Worth area has fallen substantially in the last year.
The supply of pre-owned homes for sale is down almost 17 percent from this time last year and has fallen by a quarter from the summer of 2007.
The drop in inventory of newly built homes is even steeper – about 50 percent since mid-2007."
Full Story Dallas News
Obama's Making Home Affordable Plan
The Making Home Affordable Program is part of the Obama Administration's broad, comprehensive strategy to get the economy and the housing market back on track. The Making Home Affordable Program offers two different potential solutions for borrowers: (1) refinancing mortgage loans, through the Home Affordable Refinance Program (HARP), and (2) modifying mortgage loans, through the Home Affordable Modification Program (HAMP).
President Obama recently announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications. The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.
Find Out if You Are Eligible
Making Home Affordable.gov
President Obama recently announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications. The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.
Find Out if You Are Eligible
Making Home Affordable.gov
Dallas Home Sales Showing Gains, Fueling Optimism
Dallas Home rose to 2.7% in May to June 2009, the highest level since last September, according to the closely watched Standard & Poor's/Case-Shiller Index. It was the fourth consecutive month of gains in the Dallas index price, S&P said Tuesday.
And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.
The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.
But analysts say not to get overly optimistic about a rebound.
"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.
Full Story Dallas News
And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.
The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.
But analysts say not to get overly optimistic about a rebound.
"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.
Full Story Dallas News
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