The North Texas real estate market is experiencing never seen challenges that are being experienced around the country. Although the state of Texas overall is feeling the effects of the real estate crisis, Texas is faring much better than many other states. Everywhere you look, the news speaks of doom and gloom when the subject of discussion is real estate. Making such generalizations can create a pall over areas where home sales are showing signs of increase. Understanding the nuances of the market, even in a more stable economic climate is still sometimes a difficult task.
The North Texas real estate market and other parts of Texas have not seen the double digit declines that other states have seen. Texas is still an affordable place to live and relocation surveys show that the number of people relocating to Texas is on the increase. Vehicle registrations are reported to be increasing in spite of the decline in vehicle sales. This is just another indicator of people choosing to make Texas their new home.
With the first time homebuyer credit available for new homebuyers and eager investors out there looking for a good deal, lower priced homes that are in moderate to good condition are being sought. Many foreclosed properties are seeing multiple offers. To say that the real estate market is in bad shape is not a correct analogy. While the lower price range homes are showing some signs of recovery, higher priced homes are sitting on the market for longer periods than in the past. Uncertainty with the economy and the growing number of job losses and bankruptcies, people are hesitant to make such large investments such as homes, especially the higher prices ones.
There are so many variances in the real estate market. What may be a hot seller in one town is not in another. The best way to find current information on homes is to contact a Realtor. Realtor’s have access to information on home sales and home values. Please call Dave or Betty Warden at 817-706-3291 for more information about home sales and listings in your area.
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