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Guiding You Through The Home Lending Storm: Local Knowledge Matters

February 15, 2010 by Kevinmiller
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Up in Garland. Down in Plano. Up in Westlake and Richardson. Down in Park Cities and Lancaster. Flat in Frisco. Rock bottom in some places. Still sliding in others. Forecasts for major growth in the lucky few.

The Dallas Morning News recently published an excellent review of the past year’s Dallas-Ft. Worth Metroplex housing market. It’s main point? In a manner unlike any recent year, the local market has fluctuated from month to month to month, from neighborhood to neighborhood to neighborhood.

According to the DMN :

How you look at the Dallas-area housing market has a lot to do with what neighborhood you’re in.

In 2009, median home sales prices were up in Westlake, Richardson, Garland and Duncanville. But in the Park Cities, North Dallas and Lancaster, there were more double-digit price declines. And while home sales were flat for the year in Frisco, down the road in Plano the number sold through the Realtors’ Multiple Listing Service fell 16 percent.

“2009 was perhaps the strangest in my 32 years in the business,” said sales agent Barry Hoffer of Ebby Halliday Realtors. “It was hard to really read any trends at all.

“With most of the emphasis on the negative side of the business news, many qualified buyers were just reluctant to make a move at all – and that despite discounted home prices, negotiable sellers and very attractive interest rates,” he said. “I sense more calmness in the market now, and, hopefully, 2010 will be a decent year.”

Total home sales in North Texas dropped 11 percent in 2009 and overall median prices were flat, according to statistics from North Texas Real Estate Information Systems Inc. and the Real Estate Center at Texas A&M University. …

“I believe the real estate recovery in 2010 will give some neighborhoods the boost they are waiting for,” said Lydia Player of Virginia Cook Realtors. “Other areas are going to be much slower to see improvement.”

Trying to figure out how to turn the market in your favor can be a dizzying endeavor. Thankfully, our army of housing market experts know Dallas-Ft. Worth better than anybody.

Contact us—we’ll help you figure out how (and where) to find a mortgage that best suits your specific needs.

 
 

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