Provided By RECON
Nine of the top ten most cost-effective projects in terms of value recouped are exterior replacement projects, according to the National Association of Realtors 2010–11 Remodeling Cost vs. Value Report.
Among the report's findings:
The steel entry door replacement is the project that returned the most money, with an estimated 102.1 percent of cost recouped when the home is sold.
The midrange garage door replacement is expected to recoup 83.9 percent of costs.
Upscale fiber-cement siding replacement was deemed the most cost-effective among siding projects, recouping 80 percent of costs.
Upscale vinyl window replacements were expected to recoup the most among window replacement projects, at 72.6 percent.
Wood decks tied with a minor kitchen remodel for the fourth most profitable project, recouping an estimated 72.8 percent of costs.
Meanwhile, here's what the study found inside the house:
An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent.
A basement remodel costs more than $64,000 and recoups an estimated 70 percent.
Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.
In addition, the study found that Texas was among the regions that were consistently estimated to return a higher percentage of remodeling costs when a home is sold.
Are you ready to sell your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Showing posts with label RECON. Show all posts
Showing posts with label RECON. Show all posts
Wednesday, December 22, 2010
Friday, October 8, 2010
TEXAS ADDS 133,100 JOBS IN LAST 12 MONTHS
Provided By RECON
Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.
During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.
All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.
Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.
The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.
Are you wanting to relocate to a home closer to your job? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Texas' economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent.
During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States.
The state’s seasonally adjusted unemployment rate rose from 8 percent in August 2009 to 8.3 percent in August 2010, while the nation’s rate in August decreased from 9.7 to 9.6 percent.
All Texas industries except the trade, construction and information industries had more jobs in August 2010 than in August last year.
Twenty-four Texas metro areas had positive employment growth rates for the year ending Aug. 31, up from 19 for the period from July 2009 to July 2010. Sherman-Denison ranked first in job creation, followed by San Angelo, Austin-Round Rock-San Marcos, Odessa and Tyler.
The state’s actual unemployment rate in August 2010 was 8.4 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo and Abilene.
Are you wanting to relocate to a home closer to your job? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Friday, September 3, 2010
TEXANS LESS FINANCIALLY STRESSED THAN OTHERS
Provided By RECON
CredAbility’s recent report gauging the economic security of American households has found Texans are on average slightly less stressed than those in other states.
The report gave Texas a consumer distress index score of 65.89 points out of 100, compared with the national score of 65.23. Any score lower than 70 is considered “financial distress.” Only nine states, primarily in the upper midwest and Great Plains, reported indices higher than 70 points.
The report also showed Texans are more financially stressed now than they were during second quarter 2009. CredAbility attributed the sustained economic stress to continuing high levels of unemployment and families struggling to pay their mortgages.
“The average American remains gripped by financial distress,” CredAbility CEO Mark Cole said. "To use a medical analogy, the patient is still in critical condition. Until housing and employment marketing improve significantly, we cannot expect to see significant recovery in these numbers.”
Are you financially ready to purchase a home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
CredAbility’s recent report gauging the economic security of American households has found Texans are on average slightly less stressed than those in other states.
The report gave Texas a consumer distress index score of 65.89 points out of 100, compared with the national score of 65.23. Any score lower than 70 is considered “financial distress.” Only nine states, primarily in the upper midwest and Great Plains, reported indices higher than 70 points.
The report also showed Texans are more financially stressed now than they were during second quarter 2009. CredAbility attributed the sustained economic stress to continuing high levels of unemployment and families struggling to pay their mortgages.
“The average American remains gripped by financial distress,” CredAbility CEO Mark Cole said. "To use a medical analogy, the patient is still in critical condition. Until housing and employment marketing improve significantly, we cannot expect to see significant recovery in these numbers.”
Are you financially ready to purchase a home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, August 30, 2010
TEXAS' HOME PRICES CONTINUE TO IMPROVE
Provided By RECON
When it comes to home price appreciation, Texas is standing strong, said Real Estate Center Chief Economist Dr. Mark Dotzour.
Dotzour was responding to the Federal Housing Finance Agency's (FHFA) second quarter 2010 home price index, which ranked Texas third in the nation in home price appreciation for the year ending June 30, 2010.
FHFA reported a 1.43 percent increase in Texas home prices during that period versus 1.6 percent nationally.
"The strong price trends in Texas are because we didn't have a price bubble in the previous decade," Dotzour said. "For several years, Texans were asking why their homes were increasing only 3 to 5 percent per year, when Arizona was going up 30 percent."
In addition, Dotzour said the credit crisis virtually ended new home construction lending all over the country, abruptly shutting off the pipeline of new supply in 2008 and reducing any chance of heavy overbuilding in the single-family market.
Research Economist Dr. Jim Gaines noted that Texas was one of only ten states that reported increases in home prices during the past year, and it was one of only five states where prices had more than a 15 percent increase over the past five years.
Prices in Texas increased by 15.88 percent since 2005, landing it fourth on FHFA's ranking of states based on five-year price appreciation.
"What that means is that Texas home values fared better than all of the high-appreciation states over the five-year period that included the recession," Gaines said.
Among Metropolitan Statistical Areas (MSAs), Amarillo came out smelling like a yellow rose. It was the only Texas MSA to land on FHFA's list of 20 MSAs with the highest rates of home price appreciation.
Amarillo ranked 16th with a one-year price increase of 0.42 percent.
FHFA's latest home price index is available online.
If you are looking to sell your home, and want it priced right, give us a call at 972-772-7000 or email us at rockwall@kw.com.
When it comes to home price appreciation, Texas is standing strong, said Real Estate Center Chief Economist Dr. Mark Dotzour.
Dotzour was responding to the Federal Housing Finance Agency's (FHFA) second quarter 2010 home price index, which ranked Texas third in the nation in home price appreciation for the year ending June 30, 2010.
FHFA reported a 1.43 percent increase in Texas home prices during that period versus 1.6 percent nationally.
"The strong price trends in Texas are because we didn't have a price bubble in the previous decade," Dotzour said. "For several years, Texans were asking why their homes were increasing only 3 to 5 percent per year, when Arizona was going up 30 percent."
In addition, Dotzour said the credit crisis virtually ended new home construction lending all over the country, abruptly shutting off the pipeline of new supply in 2008 and reducing any chance of heavy overbuilding in the single-family market.
Research Economist Dr. Jim Gaines noted that Texas was one of only ten states that reported increases in home prices during the past year, and it was one of only five states where prices had more than a 15 percent increase over the past five years.
Prices in Texas increased by 15.88 percent since 2005, landing it fourth on FHFA's ranking of states based on five-year price appreciation.
"What that means is that Texas home values fared better than all of the high-appreciation states over the five-year period that included the recession," Gaines said.
Among Metropolitan Statistical Areas (MSAs), Amarillo came out smelling like a yellow rose. It was the only Texas MSA to land on FHFA's list of 20 MSAs with the highest rates of home price appreciation.
Amarillo ranked 16th with a one-year price increase of 0.42 percent.
FHFA's latest home price index is available online.
If you are looking to sell your home, and want it priced right, give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, August 16, 2010
LOVE FIELD RENOVATION COULD TOP $1 BILLION
Provided By RECON
Source Dallas Morning News
More than $1 billion may be spent on the renovation of Dallas' Love Field.
A potential automated people mover that will connect Love Field to a planned Dallas Area Rapid Transit light-rail line just west of the airport could cost up to $250 million. The rest of the budget will be spent on new taxiways, aprons, drainage and other nonterminal improvements.
Currently underway is the $519 million project to replace Love Field’s terminal, which, when completed, will house 20 gates. Sixteen of those will be occupied by Southwest. The construction includes an area for taxi queuing farther from the terminal’s front doors and new maintenance facilities.
The airport will open a new eastern concourse for ExpressJet Inc. and Pinnacle Airlines Inc. in September.
Check out Love’s New Look for previous coverage of the Love Field renovation.
Are you looking for a home in or near the big city of Dallas? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Source Dallas Morning News
More than $1 billion may be spent on the renovation of Dallas' Love Field.
A potential automated people mover that will connect Love Field to a planned Dallas Area Rapid Transit light-rail line just west of the airport could cost up to $250 million. The rest of the budget will be spent on new taxiways, aprons, drainage and other nonterminal improvements.
Currently underway is the $519 million project to replace Love Field’s terminal, which, when completed, will house 20 gates. Sixteen of those will be occupied by Southwest. The construction includes an area for taxi queuing farther from the terminal’s front doors and new maintenance facilities.
The airport will open a new eastern concourse for ExpressJet Inc. and Pinnacle Airlines Inc. in September.
Check out Love’s New Look for previous coverage of the Love Field renovation.
Are you looking for a home in or near the big city of Dallas? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, August 4, 2010
'SAVING FAMILY LANDS' SEMINAR SCHEDULED FOR SEPTEMBER
Provided By RECON
The Texas Agricultural Land Trust (TALT) is holding the Saving Family Lands seminar with tax expert and attorney Stephen J. Small in San Antonio and Fort Worth in late September.
The workshop will provide landowners, attorneys, appraisers, accountants, land managers, Realtors and estate planners with current information on tools, methods and financial strategies for keeping cherished lands in the family.
TALT says Small is the nation's leading authority on private land protection options and the resulting federal benefits and estate planning advantages.
The seminar will be held at the following times and locations:
San Antonio
Tuesday, Sept. 21, 8:00 a.m. – noon
The Studio at Pearl Brewery
200 E. Grayson, Suite 115
Fort Worth
Wednesday, Sept. 22, 8:00 a.m. – noon
Texas & Southwestern Cattle Raisers Association offices
1301 W. Seventh St.
Registration deadline is Sept. 13. For more information, visit Texas Agricultural Land Trust online.
To learn more about saving family lands, give us a call at 972-772-7000 or email us at rockwall@kw.com.
The Texas Agricultural Land Trust (TALT) is holding the Saving Family Lands seminar with tax expert and attorney Stephen J. Small in San Antonio and Fort Worth in late September.
The workshop will provide landowners, attorneys, appraisers, accountants, land managers, Realtors and estate planners with current information on tools, methods and financial strategies for keeping cherished lands in the family.
TALT says Small is the nation's leading authority on private land protection options and the resulting federal benefits and estate planning advantages.
The seminar will be held at the following times and locations:
San Antonio
Tuesday, Sept. 21, 8:00 a.m. – noon
The Studio at Pearl Brewery
200 E. Grayson, Suite 115
Fort Worth
Wednesday, Sept. 22, 8:00 a.m. – noon
Texas & Southwestern Cattle Raisers Association offices
1301 W. Seventh St.
Registration deadline is Sept. 13. For more information, visit Texas Agricultural Land Trust online.
To learn more about saving family lands, give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, July 26, 2010
TEXAS LEADS ECONOMIC RECOVERY
Provided By RECON
Texas is leading the United States in the current U-shaped economic recovery. The state’s economy experienced its second month of positive annual employment growth after 16 months of job losses.
Texas’ annual employment growth rate was 0.9 percent from June 2009 to June 2010 compared with a negative rate of 0.1 percent for the nation. After 17 months of job losses, the state’s private sector posted a positive annual employment growth rate of 0.4 percent.
The state’s seasonally adjusted unemployment rate rose from 7.8 percent in June 2009 to 8.2 percent in June 2010, while the U.S. rate in June was 9.5 percent, the same as in June 2009.
Six Texas industries — education and health services; mining and logging; professional and business services; leisure and hospitality; manufacturing; and transportation, warehousing, utilities — and the government sector had more jobs in June 2010 than in June 2009. Five other industries experienced net job losses over the same period.
Sixteen Texas metro areas experienced positive employment growth rates from June 2009 to June 2010, up from 13 for the period from May 2009 to May 2010. College Station-Bryan ranked first in job creation followed by San Angelo, McAllen-Edinburg-Mission, Killeen-Temple-Fort Hood and Waco.
The state’s actual unemployment rate in June 2010 was 8.5 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo, Abilene and College Station-Bryan.
The Real Estate Center's complete economic review is available on the Center's website.
Texas is growing and so is DFW, are you ready to make a move to one of Texas' leading cities? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Texas is leading the United States in the current U-shaped economic recovery. The state’s economy experienced its second month of positive annual employment growth after 16 months of job losses.
Texas’ annual employment growth rate was 0.9 percent from June 2009 to June 2010 compared with a negative rate of 0.1 percent for the nation. After 17 months of job losses, the state’s private sector posted a positive annual employment growth rate of 0.4 percent.
The state’s seasonally adjusted unemployment rate rose from 7.8 percent in June 2009 to 8.2 percent in June 2010, while the U.S. rate in June was 9.5 percent, the same as in June 2009.
Six Texas industries — education and health services; mining and logging; professional and business services; leisure and hospitality; manufacturing; and transportation, warehousing, utilities — and the government sector had more jobs in June 2010 than in June 2009. Five other industries experienced net job losses over the same period.
Sixteen Texas metro areas experienced positive employment growth rates from June 2009 to June 2010, up from 13 for the period from May 2009 to May 2010. College Station-Bryan ranked first in job creation followed by San Angelo, McAllen-Edinburg-Mission, Killeen-Temple-Fort Hood and Waco.
The state’s actual unemployment rate in June 2010 was 8.5 percent. Midland had the lowest unemployment rate followed by Amarillo, Lubbock, San Angelo, Abilene and College Station-Bryan.
The Real Estate Center's complete economic review is available on the Center's website.
Texas is growing and so is DFW, are you ready to make a move to one of Texas' leading cities? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, June 23, 2010
Senate OKs New Tax Credit Closing Deadline
Published By Inman News
Provided By RECON
CLARIFICATION: While the Senate has amended HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010," to extend the closing deadline for the tax credit, it has not held a vote on the amended bill itself. Senate Democrats have reportedly trimmed $60 billion in spending from the bill in hopes of passing it this week. The House and Senate must resolve differences between previous versions of the bill passed in both chambers before it can become law.
The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit.
Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of 180,000 homebuyers nationwide, said amendment sponsor Sen. Harry Reid, D-Nev.
The amendment to HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010" -- which primarily extends unemployment insurance benefits -- was approved in a 60-37 vote Wednesday. The vote on the amendment was mostly along party lines, with only four Republicans in favor and one Democrat opposed. The Senate has not yet voted on the amended bill itself.
"While I am disappointed that more Republicans did not support this common-sense measure to strengthen the economy and reduce the deficit, I am committed to ensuring that more Nevadans and Americans can become homeowners and that this amendment becomes law," Reid said in a statement.
The House passed an earlier version of the bill in December, which the Senate amended and approved in March. The House and Senate must resolve differences between versions of the bill before it becomes law.
The National Association of Realtors supports the amendment, saying Realtors have reported that as many as one-third of qualified applicants have been told by lenders that their loans will not close before June 30 because of the sheer volume of loan applications in the pipeline.
The amendment does not extend the deadline for homebuyers to qualify for the tax credit, NAR said in urging lawmakers to approve it, but simply extends the deadline for closing transactions already in contract.
"Since these applications were already in the pipeline and figured into the program's cost, the extension of the closing deadline should not incur any further government costs," NAR President Vicki Cox Golder said in a statement.
There has been some speculation that some homebuyers will attempt to submit fraudulent claims for the tax credit by backdating documents showing they were under contract by April 30, and that extending the deadline for closing would expose the government to more fraudulent claims.
Would you like more information regarding the new tax credit closing deadline? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Provided By RECON
CLARIFICATION: While the Senate has amended HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010," to extend the closing deadline for the tax credit, it has not held a vote on the amended bill itself. Senate Democrats have reportedly trimmed $60 billion in spending from the bill in hopes of passing it this week. The House and Senate must resolve differences between previous versions of the bill passed in both chambers before it can become law.
The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit.
Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of 180,000 homebuyers nationwide, said amendment sponsor Sen. Harry Reid, D-Nev.
The amendment to HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010" -- which primarily extends unemployment insurance benefits -- was approved in a 60-37 vote Wednesday. The vote on the amendment was mostly along party lines, with only four Republicans in favor and one Democrat opposed. The Senate has not yet voted on the amended bill itself.
"While I am disappointed that more Republicans did not support this common-sense measure to strengthen the economy and reduce the deficit, I am committed to ensuring that more Nevadans and Americans can become homeowners and that this amendment becomes law," Reid said in a statement.
The House passed an earlier version of the bill in December, which the Senate amended and approved in March. The House and Senate must resolve differences between versions of the bill before it becomes law.
The National Association of Realtors supports the amendment, saying Realtors have reported that as many as one-third of qualified applicants have been told by lenders that their loans will not close before June 30 because of the sheer volume of loan applications in the pipeline.
The amendment does not extend the deadline for homebuyers to qualify for the tax credit, NAR said in urging lawmakers to approve it, but simply extends the deadline for closing transactions already in contract.
"Since these applications were already in the pipeline and figured into the program's cost, the extension of the closing deadline should not incur any further government costs," NAR President Vicki Cox Golder said in a statement.
There has been some speculation that some homebuyers will attempt to submit fraudulent claims for the tax credit by backdating documents showing they were under contract by April 30, and that extending the deadline for closing would expose the government to more fraudulent claims.
Would you like more information regarding the new tax credit closing deadline? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, May 19, 2010
ECONOMICALLY SPEAKING, TEXAS MSAS RANK HIGH
Source RECON
Published By Policom Corporation
Houston, Dallas and Austin are among the 20 strongest metropolitan areas in the nation, according to POLICOM Corporation’s annual economic strength rankings.
“The top-rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” said William H. Fruth, president of POLICOM. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation.”
Of 366 metro areas nationwide, Houston–Sugar Land–Baytown ranked fourth, Dallas–Fort Worth–Arlington ranked tenth and Austin–Round Rock–San Marcos ranked 12th.
POLICOM specializes in analyzing local and state economies.
Are you interested in homes in one of DFW's rapidly growing communities? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Published By Policom Corporation
Houston, Dallas and Austin are among the 20 strongest metropolitan areas in the nation, according to POLICOM Corporation’s annual economic strength rankings.
“The top-rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” said William H. Fruth, president of POLICOM. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation.”
Of 366 metro areas nationwide, Houston–Sugar Land–Baytown ranked fourth, Dallas–Fort Worth–Arlington ranked tenth and Austin–Round Rock–San Marcos ranked 12th.
POLICOM specializes in analyzing local and state economies.
Are you interested in homes in one of DFW's rapidly growing communities? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, May 17, 2010
Texas Dominates Rankings for Best Cities for Jobs
Source RECON
Published By Fort Worth Star Telegram
For the second year in a row, Texas cities took half of the top ten spots in Newgeography.com's annual ranking of the best cities in the nation in which to find a job.
Austin–Round Rock–San Marcos ranked first, San Antonio–New Braunfels second, Houston–Sugar Land–Baytown third, Dallas-Plano-Irving fifth and Fort Worth–Arlington seventh.
Among the medium-sized cities that Newgeography.com ranked, El Paso was fifth, McAllen-Mission-Edinburg was sixth and Corpus Christi was seventh.
College Station–Bryan was the third best smallest city in which to find a job. Killeen–Temple–Fort Hood was fourth.
The rankings are based on three-month rolling averages of monthly employment data from the Bureau of Labor Statistics from November 1999 to January 2010.
To read more of this story click here.
Are you looking for a home closer to your job? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Published By Fort Worth Star Telegram
For the second year in a row, Texas cities took half of the top ten spots in Newgeography.com's annual ranking of the best cities in the nation in which to find a job.
Austin–Round Rock–San Marcos ranked first, San Antonio–New Braunfels second, Houston–Sugar Land–Baytown third, Dallas-Plano-Irving fifth and Fort Worth–Arlington seventh.
Among the medium-sized cities that Newgeography.com ranked, El Paso was fifth, McAllen-Mission-Edinburg was sixth and Corpus Christi was seventh.
College Station–Bryan was the third best smallest city in which to find a job. Killeen–Temple–Fort Hood was fourth.
The rankings are based on three-month rolling averages of monthly employment data from the Bureau of Labor Statistics from November 1999 to January 2010.
To read more of this story click here.
Are you looking for a home closer to your job? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Friday, April 30, 2010
MORTGAGE RATES FELL LAST WEEK
Provided By Real Estate Center Online News
Source Dallas Morning News
The average rate on a 30-year fixed-rate mortgage fell to 5.07 percent last week. The previous week it was at 5.21 percent, its highest rate since August, when it was 5.29 percent.
Rates hit 4.71 percent in December, a record low, because of a Federal Reserve campaign to reduce borrowing costs for consumers. The program ended in March but could be reinstated if the economy weakens.
Last week, the average rate on a 15-year, fixed-rate mortgage was 4.4 percent, down from 4.52 percent the week before.
Five-year adjustable-rate mortgage rates averaged 4.08 percent, a fall from 4.25 percent the prior week. Rates on one-year, adjustable-rate mortgages fell from 4.14 percent to 4.13 percent last week.
Would you like more information regarding mortgage rates? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Source Dallas Morning News
The average rate on a 30-year fixed-rate mortgage fell to 5.07 percent last week. The previous week it was at 5.21 percent, its highest rate since August, when it was 5.29 percent.
Rates hit 4.71 percent in December, a record low, because of a Federal Reserve campaign to reduce borrowing costs for consumers. The program ended in March but could be reinstated if the economy weakens.
Last week, the average rate on a 15-year, fixed-rate mortgage was 4.4 percent, down from 4.52 percent the week before.
Five-year adjustable-rate mortgage rates averaged 4.08 percent, a fall from 4.25 percent the prior week. Rates on one-year, adjustable-rate mortgages fell from 4.14 percent to 4.13 percent last week.
Would you like more information regarding mortgage rates? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, April 28, 2010
HOMES FOR HEROES
Provided By Real Estate Center Online News
Since 2005, the Bay Area Builders Association Support Our Troops program has provided mortgage-free homes to Americans wounded in Iraq and Afghanistan.
In the Real Estate Center's new eight-minute video, meet the leader of the team and one of the recipients as you learn about this unique Texas program and its efforts to go national.
Would you like to learn more information about the Bay Area Builders Association Support Our Troops program? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Since 2005, the Bay Area Builders Association Support Our Troops program has provided mortgage-free homes to Americans wounded in Iraq and Afghanistan.
In the Real Estate Center's new eight-minute video, meet the leader of the team and one of the recipients as you learn about this unique Texas program and its efforts to go national.
Would you like to learn more information about the Bay Area Builders Association Support Our Troops program? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, April 21, 2010
BEWARE OF DFW BROKERAGE SCAMS
Source Texas Real Estate Commision
Provided By RECON
The Texas Real Estate Commission Standards and Enforcement Services Division (TREC) has received complaints against a group of individuals and companies that have been doing business in the Dallas–Fort Worth area.
The individuals and companies named in the complaints represent themselves as real estate agents and real estate brokerage companies but do not hold Texas real estate licenses. Owners of real property, tenants, buyers and investors claim to have lost large sums of money because of the group's schemes, which allegedly include:
Before consumers give personal information, money, or financial information to a person claiming to be a real estate agent, they should verify the identity of the person and check whether that person actually holds a Texas real estate license. License information can be obtained by doing a “licensee lookup” on TREC’s website, www.trec.state.tx.us, or by calling TREC at 800-250-TREC or 512-465-3942.
Do you want to buy or sell a home without the hassle of wondering if you're dealing with a false agent? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Provided By RECON
The Texas Real Estate Commission Standards and Enforcement Services Division (TREC) has received complaints against a group of individuals and companies that have been doing business in the Dallas–Fort Worth area.
The individuals and companies named in the complaints represent themselves as real estate agents and real estate brokerage companies but do not hold Texas real estate licenses. Owners of real property, tenants, buyers and investors claim to have lost large sums of money because of the group's schemes, which allegedly include:
- taking and keeping deposits for properties over which they have no authority or no control,
- not paying rent to property owners on property they claim to manage for those owners, and
- taking deposits or earnest money on properties that they claim are available for a short sale but in reality are days away from foreclosure.
Before consumers give personal information, money, or financial information to a person claiming to be a real estate agent, they should verify the identity of the person and check whether that person actually holds a Texas real estate license. License information can be obtained by doing a “licensee lookup” on TREC’s website, www.trec.state.tx.us, or by calling TREC at 800-250-TREC or 512-465-3942.
Do you want to buy or sell a home without the hassle of wondering if you're dealing with a false agent? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
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