Aug 7, 2008

How is our Market?

This is a question that I get daily and I'm glad to address it. As of last week, Dallas prices are up, with the median single family home sales price at $246,596 and a median price per square foot at about $116 . The average property has been on the market for about 121 days and it is still considered to be a buyer's market. There are about 5,589 properties for sale in Dallas.

The experts at Altos Research provide great statistics if you know how to decipher them. Basically, they report that nationally things are on the upswing. Almost without exception, the up markets are the nice parts of town. The down markets are the cheapest parts of town.

They are right on the money when they point out that the people with access to funds can, for the first time in years, buy in the best neighborhoods without a lot of competition. Mortgages are still cheap, if you can get one. While at the lower end, no one can get financing, and those with the foolish mortgages are now selling or foreclosing. The disasters start at the bottom.

The buyers that I'm working with now are getting into the properties they want at a price they like with excellent financing terms. It's a great time to buy.

[where: 75230]

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