Friday, March 15, 2013
Florida, Arizona and Texas real estate on fire.
By Troy Corman, www.t2realestate.com
When the payments on a $300K home are where they were on a $200K home in 2008, you get a lot of juice to the real estate market. He says that Houston added 90,000 jobs in 2012 but only 45,000 new home permits. Demand exceeding supply.
Thursday, March 14, 2013
Monday, February 18, 2013
Historic Lakewood Homes of Dallas for President's Day!
By Troy Corman, t2 Real Estate
Enjoy these beautiful patriotic-adorned Dallas homes near White Rock Lake,
and the renowned Lakewood Boulevard. Happy President's Day!
This updated 3/2/2 is offered for $317,500. See more details at 6541Patrick.com
Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
- Connect with Troy Corman on facebook at http://www.facebook.com/troy.corman
- Follow Troy Corman on twitter at https://twitter.com/#!/troycorman
- Reach Troy Corman at his google+ page
Saturday, February 16, 2013
A History of U.S. Mortgage Rates.
Reproduced with the permission of Mortgage-X.com
By Troy Corman, t2 Real Estate
We've never had it so good - that is, if you're a buyer of real estate right now. If you're a saver, it's not so good.
As you can see in the orange graph in the above chart, 30-year fixed rate mortgages are at their lowest levels, basically ever. Right now, if you can get a mortgage at 3.5% on a $250,000 loan, principal and interest costs will be around $1,122 a month. Bumping the rate up to the 6.5% levels we experienced in 2006 and 2007, and the monthly costs rises to $1,580 a month. That's an extra $5,496 a year. We've been lulled into thinking that these low rates are the norm, but as we can see above, nothing could be further from the historical truth.
As mortgage rates begin to inch up, it isn't likely that they'll return to the historic low levels. U.S. banks reportedly have $1.5 trillion (with a "T") parked at the Fed. According to this article, Why Inflation In 2013 Is Imminent, the money is not being disbursed into the economy because it's more difficult for the banks to make money with the government-manufactured interest rates.
Sooner or later, the spigots will be turned and the money will flow. In fact, it's already happening in the private investor market. Money is flowing into construction and home building. Talk to a local home builder and you'll get the real story on inflation. Material, land and labor costs are all rapidly rising. As are home prices - nationwide.
Speaking of hints of inflation, some farm land prices have doubled in the last five to ten years. During the weakest recovery in the history of the United States! And the U.S. stock market recently hit a multi-year high.
Experts agree that more inflation is imminent, but opinions vary on it's arrival date. It's most likely to occur when bond investors see the value of the dollar decline more than the interest rates they're being paid. Then, they'll no longer buy bonds unless they're offered better rates of return, or higher interest rates.
How does inflation affect you? Well for starters, you'll pay more for gas, food, clothing and shelter. It's called the hidden tax, because no socio-economic class can escape it.
To get an idea of how higher interest rates could affect your home buying plans, check out this mortgage rate chart below.
Monthly principal and interests costs on a $250,000 30-FRM at various interest rates.
To get an idea of how higher interest rates could affect your home buying plans, check out this mortgage rate chart below.
Monthly principal and interests costs on a $250,000 30-FRM at various interest rates.
3.5% - $1,122
4.5% - $1,266
5.5% - $1,419
6.5% - $1,580
7.5% - $1,748
8.5% - $1,922
9.5% - $2,102
If I can help answer any questions regarding your real estate buying or selling needs, I'd be happy to help. Reach me at 214-690-9682.
If I can help answer any questions regarding your real estate buying or selling needs, I'd be happy to help. Reach me at 214-690-9682.
$275,000 loan at 3.6% on this home = total monthly costs of about $1,875.
View photos and details at 6541Patrick.com
View photos and details at 6541Patrick.com
Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
- Connect with Troy Corman on facebook at http://www.facebook.com/troy.corman
- Follow Troy Corman on twitter at https://twitter.com/#!/troycorman
- Reach Troy Corman at his google+ page
Tuesday, February 12, 2013
Dallas - Fort Worth Home Prices Rise 7.5%.
 |
| Updated 3/2/2 home in Lakewood Elementary. See more at 6541Patrick.com. |
By Troy Corman, t2 Real Estate
The Dallas Morning News' Steve Brown reported this morning that Dallas - Fort Worth home prices rose 7.5% in 2012, making up losses during the recession. Last year's median price of single family homes in the Dallas - Fort Worth metro, averaged $159,300, quite a jump from the 2009 low of $140,500.
Nationwide, home sales in 2012 were up 10%, led by big gains in cities on the left coast. Low interest rates with very few homes for sale continue to push prices even higher in early 2013. With the bond market beginning to signal higher interest rates on the horizon, look for more buyers to get off the fence if the ultra-low mortgage rates continue to tick upward. This would likely fuel even more demand and higher prices going forward in 2013. As always, time will tell!
- Connect with Troy Corman on facebook at http://www.facebook.com/troy.corman
- Follow Troy Corman on twitter at https://twitter.com/#!/troycorman
- Reach Troy Corman at his google+ page
Saturday, January 12, 2013
November Sales Statistics for Dallas Area Homes.
This 3/2/2 home at 6541 Patrick has numerous updates and is located in the
well-regarded Lakewood Elementary School District. Contact Troy Corman at 214.690.9682 for details.
Statistics are courtesy of the Real Estate Center for NTREIS (North Texas Real Estate Information System). If you're neighborhood or area is not covered, contact me for a free, over the internet, no-obligation custom report at 214-690-9682. I'd be happy to help!
Cedar Hill home sales year-to-date were up 10% in November 2012 while the average sold price increased to $139,107, up 2% over 2011. Average days on market was 77 days, and there are 3.5 months of inventory.
Desoto home sales year-to-date were up 22% in November 2012 while the average sold price increased to $126,782, up 2% from 2011. Average days on market was 87 days, and there are 3.3 months of inventory.
Lancaster home sales year-to-date were up 9% in November 2012 while the average sold price increased to $79,552, up 3% over 2011. Average days on market was 75 days, and there are 2.8 months of inventory.
Mesquite home sales year-to-date were up 8% in November 2012 while the average sold price increased to $86,678, up 7% over 2011. Average days on market was 67 days, and there are 3.3 months of inventory.
Sachse and Rowlett home sales year-to-date were up 22% in November 2012 while the average sold price increased to $159,349, up 7% over 2011. Average days on market was 67 days, and there are 3.1 months of inventory.
The Colony home sales year-to-date were up 31% in November 2012 while the average sold price increased to $148,709, up 7% over 2011. Average days on market was 58 days, and there are 2.6 months of inventory.
Addison and far north Dallas home sales year-to-date were up 31% in November 2012 while the average sold price increased to $342,946, up 5% over 2011. Average days on market was 65 days, and there are 4.6 months of inventory.
North Dallas home sales year-to-date were also up 31% in November 2012 while the average sold price decreased to $716,249, down 11% from 2011. Average days on market was 90 days, and there are 6.1 months of inventory.
East Dallas home sales year-to-date were up 27% in November 2012 while the average sold price increased to $269,507, up 7% over 2011. Average days on market was 75 days, and there are 4.0 months of inventory.
North Dallas home sales year-to-date were also up 31% in November 2012 while the average sold price decreased to $716,249, down 11% from 2011. Average days on market was 90 days, and there are 6.1 months of inventory.
East Dallas home sales year-to-date were up 27% in November 2012 while the average sold price increased to $269,507, up 7% over 2011. Average days on market was 75 days, and there are 4.0 months of inventory.
North Oak Cliff home sales year-to-date were up 6% in November 2012 while the average sold price increased to $113,748, up 9% over 2011. Average days on market was 65 days, and there are 4.2 months of inventory.
South Oak Cliff home sales year-to-date were down 2% in November 2012 while the average sold price increased to $62,426, up 6% over 2011. Average days on market was 65 days, and there are 2.5 months of inventory.
North West Dallas home sales year-to-date were up 28% in November 2012 while the average sold price increased to $234,286, up 12% over 2011. Average days on market was 73 days, and there are 3.5 months of inventory.
Oak Lawn home sales year-to-date were up 43% in November 2012 while the average sold price decreased to $430,673, down 25% from 2011. Average days on market was 91 days, and there are 7.1 months of inventory.
North East Dallas home sales year-to-date were up 30% in November 2012 while the average sold price increased to $268,400, up 12% over 2011. Average days on market was 55 days, and there are 3.1 months of inventory.
Sunnyvale home sales year-to-date were down 35% in November 2012 while the average sold price increased to $300,763, up 4% from 2011. Average days on market was 76 days, and there are 5.4 months of inventory.
Plano home sales year-to-date were up 18% in November 2012 while the average sold price increased to $271,949, up 1% over 2011. Average days on market was 56 days, and there are 3.1 months of inventory.
Coppell home sales year-to-date were up 13% in November 2012 while the average sold price decreased to $310,064, down 5% from 2011. Average days on market was 56 days, and there are 2.9 months of inventory.
Richardson home sales year-to-date were up 19% in November 2012 while the average sold price increased to $179,315, up 4% over 2011. Average days on market was 56 days, and there are 2.6 months of inventory.
Garland home sales year-to-date were up 11% in November 2012 while the average sold price increased to $114,006, up 4% over 2011. Average days on market was 66 days, and there are 3.2 months of inventory.
University Park and Highland Park home sales year-to-date were up 21% in November 2012 while the average sold price decreased to $1,051,514, down 2% from 2011. Average days on market was 79 days, and there are 4.6 months of inventory.
Irving home sales year-to-date were up 14% in November 2012 while the average sold price increased to $199,906 up 8% from 2011. Average days on market was 70 days, and there are 3.9 months of inventory.
Duncanville home sales year-to-date were down 5% in November 2012 while the average sold price increased to $108,238 up 3% from 2011. Average days on market was 78 days, and there are 3.9 months of inventory.
Wylie home sales year-to-date were up 20% in November 2012 while the average sold price increased to $179,275, up 3% over 2011. Average days on market was 67 days, and there are 2.9 months of inventory.
North East Dallas home sales year-to-date were up 30% in November 2012 while the average sold price increased to $268,400, up 12% over 2011. Average days on market was 55 days, and there are 3.1 months of inventory.
Sunnyvale home sales year-to-date were down 35% in November 2012 while the average sold price increased to $300,763, up 4% from 2011. Average days on market was 76 days, and there are 5.4 months of inventory.
Plano home sales year-to-date were up 18% in November 2012 while the average sold price increased to $271,949, up 1% over 2011. Average days on market was 56 days, and there are 3.1 months of inventory.
Coppell home sales year-to-date were up 13% in November 2012 while the average sold price decreased to $310,064, down 5% from 2011. Average days on market was 56 days, and there are 2.9 months of inventory.
Richardson home sales year-to-date were up 19% in November 2012 while the average sold price increased to $179,315, up 4% over 2011. Average days on market was 56 days, and there are 2.6 months of inventory.
Garland home sales year-to-date were up 11% in November 2012 while the average sold price increased to $114,006, up 4% over 2011. Average days on market was 66 days, and there are 3.2 months of inventory.
University Park and Highland Park home sales year-to-date were up 21% in November 2012 while the average sold price decreased to $1,051,514, down 2% from 2011. Average days on market was 79 days, and there are 4.6 months of inventory.
Irving home sales year-to-date were up 14% in November 2012 while the average sold price increased to $199,906 up 8% from 2011. Average days on market was 70 days, and there are 3.9 months of inventory.
Duncanville home sales year-to-date were down 5% in November 2012 while the average sold price increased to $108,238 up 3% from 2011. Average days on market was 78 days, and there are 3.9 months of inventory.
Wylie home sales year-to-date were up 20% in November 2012 while the average sold price increased to $179,275, up 3% over 2011. Average days on market was 67 days, and there are 2.9 months of inventory.
Allen home sales year-to-date were up 15% in November 2012 while the average sold price increased to $248,438, up 1% from 2011. Average days on market was 57 days, and there are 2.6 months of inventory.
Frisco home sales and Denton county east year-to-date were up 17% in November 2012 while the average sold price increased to $303,398, up 5% over 2011. Average days on market was 58 days, and there are 2.8 months of inventory.
Prosper home sales year-to-date were up 32% in November 2012 while the average sold price increased to $331,160, flat with 2011. Average days on market was 85 days, and there are 4.2 months of inventory.
Frisco home sales and Denton county east year-to-date were up 17% in November 2012 while the average sold price increased to $303,398, up 5% over 2011. Average days on market was 58 days, and there are 2.8 months of inventory.
Prosper home sales year-to-date were up 32% in November 2012 while the average sold price increased to $331,160, flat with 2011. Average days on market was 85 days, and there are 4.2 months of inventory.
Celina home sales year-to-date were up 19% in November 2012 while the average sold price increased to $216,839, up 6% over 2011. Average days on market was 87 days, and there are 5.6 months of inventory.
Bedford home sales year-to-date were up 16% in November 2012 while the average sold price increased to $172,810, up 9% over 2011. Average days on market was 52 days, and there are 2.9 months of inventory.
Euless home sales year-to-date were up 30% in November 2012 while the average sold price increased to $162,291, up 1% over 2011. Average days on market was 55 days, and there are 2.9 months of inventory.
Hurst home sales year-to-date were up 10% in November 2012 while the average sold price increased to $151,314, up 15% over 2011. Average days on market was 60 days, and there are 3.2 months of inventory.
Colleyville home sales year-to-date were up 30% in November 2012 while the average sold price increased to $473,701, down 1% versus 2011. Average days on market was 93 days, and there are 5.4 months of inventory.
Grapevine home sales year-to-date were up 20% in November 2012 while the average sold price increased to $256,643, up 3% over 2011. Average days on market was 53 days, and there are 2.6 months of inventory.
Southlake home sales year-to-date were up 27% in November 2012 while the average sold price decreased to $589,210, down 3% from 2011. Average days on market was 73 days, and there are 4.8 months of inventory.
Keller home sales year-to-date were up 29% in November 2012 while the average sold price increased to $324,889, up 2% over 2011. Average days on market was 78 days, and there are 4.3 months of inventory.
Roanoake home sales year-to-date were down 9% in November 2012 while the average sold price decreased to $166,627, down 4% from 2011. Average days on market was 69 days, and there are 3.5 months of inventory.
Finally, the hottest residential real estate market in DFW... Trophy Club and Westlake home sales year-to-date were up 42% in November 2012 while the average sold price increased to $508,509, up 14% over 2011. Average days on market was 77 days, and there are 4.5 months of inventory.
Again, if your neighborhood or area was not covered, or if you're just curious as to what your home is worth, contact me for a free over-the-net, no obligation, custom market report at 214.690.9682.
Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
- Connect with Troy Corman on facebook at http://www.facebook.com/troy.corman
- Follow Troy Corman on twitter at https://twitter.com/#!/troycorman
- Reach Troy Corman at his google+ page
Subscribe to:
Posts (Atom)