Dallas Homes Center

If your concerned about your property values going down, don’t be!

The graph above shows median prices in Dallas and Plano since Dec.
Nice upward trend, yes..something positive.

The market has been tougher but Dallas has not had to deal with
the absurd price appreciation that CA, FL and Vegas have had.

Dallas has to put up with the sub prime and foreclosure mess just like
the rest of the nation and of course, the condo conundrum goes without
saying.

But, rest assure you probably won’t be facing negative equity - unless
you’re a speculator that got caught in the downturn.

I bet you think your property tax bill is too high and your going to
ask for an adjustment. That’s much better than negative equity.

Nice News. Homes are perceived as good value in Dallas and Plano.

The list this week for for all brand new listings for sale
in 75205, 75225 - that’s Highland Park, University Park
and North Dallas.

32 Properties for your review.

250K to 3.4M, all single family homes including condos,
and duplexes (attached)

Info is from the MLS, which is deemed reliable but not
guaranteed.

Happy Mother’s Day!

After brunch, if Mom is interested in a new home
here’s an Open House List that’s sure to please.

22 properties for your review with info and
times. All are in 75205 and 75225.

Enjoy your day and Thanks, MOM…for
everything!

It’s Friday and that means foreclosures.
Each week a different area or zip code is
posted on Dallas Homes Center.

List this week is for Condos and Townhomes
in: 75201, 75204,75205,75225,75219.

22 properties for your review, all are in prime
locations, for example: The Warrington,
Renaissance, 588 condos and Topaz just to name
a few.

You should be buying a foreclosure at wholesale,
meaning 20% -30% below market value. Make sure
you know what a home is worth and don’t overpay.

Enjoy the weather and Happy Mothers Day!

Real Estate Data from NTREIS (North Texas Real Estate Information
Systems) comes out the 8th of every month. These are MLS numbers,
supplied by Real Estate Center at Texas A&M University.

Sales for Single Family homes were down 11%, Dollar Volume down
12% and Pending Sales down 26%, which is disappointing for May…
but you can get that from the DMN - mostly general stuff.

So let’s look at some sub areas to get a better pulse on the market.
Today, we’ll look at 3 sub areas, that we all know and love!

• North Dallas - Area 11
• Park Cities and Vicinities - Area 25
• Oak Lawn - Condo and Townhomes - Area 17

North Dallas sales are down 20%, Park Cities down 9% and Oak Lawn
down a miserable 37%! That’s no surprise when all the developers,
speculators and investors were snapping up lots at a premium and way
over built. It will take a while to get through the condo -town home
inventory, one area hurting very badly. Prices need to come down in
certain locations, the supply is far exceeding the demand especially over
500K.

Park Cities is holding its own - Average Price up 18%, North Dallas down 8%,
with the sales continuing on a downward trend, prices are going to have to
adjust more to get some movement in the market. Next Pending Sales…

Pending sales do not speak well of what will happen in May, down 40% or more
in these areas, that hurts me to type that. The problem is active listings and the
inventory, it’s almost a years worth.

The only way to jump start sales is for sellers to lower prices especially in the
Oak Lawn Condo Conundrum, sooner rather than later - If a property has been
on the market for years, drop the price it isn’t going to get better. Only price
will sell these units. Believe me, I know,  it’s much easier said than done, no one
likes to bleed. New Homes and builders are the ones hurting -

This is lesson 101 in real estate investing, real property is not liquid like cash.
Foreclosures are posted on Fridays.