Finally, 2008 is over. I always like to see how many homes we sell in our area. Since I am working on these numbers, I thought I'd share. Sure, its another report on ActiveRain but not necessarily within my area. Below is a comparison from this past years sales in comparison to the previous year.
As you will see, it was a tough year. I think that is not a surprise to anyone. As I looked at the numbers a little further, there were many positive things I found. For example, in many areas the values either held their value and some even gained slightly, as reflected in the average sale price. So while the rest of the nation and much of the Metroplex struggle to cope with declining values, homeowners in the Northern suburbs continue to benefit from home ownership. With interest rates at historic lows, that makes the present moment an excellent time to buy. If nothing else, talk to your past clients about refinancing opportunities - and while you're at it, maybe you can interest them in trading up. Mortgage rates dropped 1.3% since the first of November - that represents a savings of roughly $175 a month on a $200,000 note - the upshot being that qualified borrowers can afford more home for the same payment if they act quickly.
Opportunities are everywhere. The media sees the present economic situation as an opportunity to bum everybody our. We just need to take their lemonds and make them lemonade... or maybe rim a martini glass.
2009 is going to be a better year, but you have to make that decision for yourself.
City
Avg Sale Price
Compared to 2007
# of Sales
Compared to 2007
Addison
303,402
-2.4%
84
-32.0%
Allen
235,321
No change
1424
-16.8%
Carrollton
179,294
-1.8%
1314
-15.0%
Desoto
137,491
-9.9%
800
1.0%
Frisco
305,002
1.0%
2480
-11.5%
McKinney
215,771
-2.3%
2288
-18.6%
Plano
261,375
-1.8%
3201
-16.4%
Richardson
198,119
1.1%
1007
-19.8%
*********************************************************
Are you looking to purchase a Texas home? Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?
I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice. If you are available to talk, I am available to listen. Give me a call or visit my website for more details.
Do you want to know all of your mortgage options? Call me today and let's discuss them further.
Always available for your Texas Mortgage and Home Loan needs!
John R Cannata P#214.728.0449
NMLS # 322646
The views expressed on this site are mine alone and do not reflect the views of my employer.
John, this is a great look at the market in your area, nice post...
Thanks Paul. I always like to see how we are doing. Sometimes I share, other times I don't. Since this was a recap, I thought I'd share. :-)
With the exception of Desoto it looks as though your values are holding strong compared to the national trend. Similar to some areas here in Washington, fewer homes selling but values are holding better than the national news would tell you.
Brett - It does appear that way, for the most part. Thought it was pretty good news.
Are you picking on my area? Why include it? Your up north, I'm down south. What gives?
Angelia - I hope I did not offend you. You are right that its not really in my area but I reported that number just for you. The good news is that the number of sales has increased.
YEAH! Richardson values are up, as always. Someone come buy my house!!
Donna - No bites on the house yet? As you stated in your posts, Richardson is still a great place to live. Hopefully you will hear something soon. When is the other house ready?
Thanks for posting this John - although I'd love to see some appreciation in Plano - I'm not worried - I believe it will bounce back and we aren't going any where fast...
Karen - I agree. Plano will get more love as time moves on. We all ran into a little dip (little?). Anyway, it will go back up.