What do Russians have to do with Dallas Real Estate?

Not as much as the Japanese and Chinese.

I struggle for an answer when people ask me what is going to happen in the local residential market and if their house is going to sell. Because right now, it really depends on many factors beyond our control. We can't control the economy, the competition, the weather, the stock market, etc.

Here is an example of what I mean: Foreign governments have an effect on our interest rates. And mortgage rates drive a lot of real estate transactions because the change in rate can mean a difference in what you get for your money. And one of the leading indicators that drive interest rates is the purchase of Treasury debt. Mortgage rates are inching up because investors are worried about the record amount ($104 billion) of T-bills that the government plans to sell this week. If foreigners buy strongly, then rates will likely hold steady. If they stay home from the sale, then rates may to go higher.

Recently the Russians said they aren't going to buy our debt any more and are going to sell off their current US debt holdings. Meanwhile, the Japanese and Chinese (our big buyers) say they will continue to buy our debt. We'll see if they open their pocketbooks this week.

So one of the many factors in whether your Dallas home will sell is based on what the Russians, Chinese and Japanese do. The factors that you can control (and should focus on) are price, condition and the marketing of your property.

Those are things we can do something about.

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