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Home Buyers Put Trust In Dallas Real Estate Agents

Home Buyers Put Trust In Dallas Real Estate Agents | Houses For Sale Dallas TX Real Estate | Scoop.it
Prospective Dallas home buyers face a lot of choices during the buying process. Unfortunately, a lot of them have nothing to do with what kind of house they'd like to live in, how big of a kitchen they want, or how many bedrooms they'll need. That's because, for most of us, buying a house requires the help of a number of services and professionals that we aren't necessarily that familiar with or used to shopping for – including a home inspector, mortgage lender, real estate agent, appraiser, etc. Understanding what each does and who to trust can cause confusion for many buyers.

In fact, a recent survey from the National Association of Realtors®, found that nearly 30 percent of future home buyers do not feel knowledgeable about real-estate transactions, while another 22 percent said they don't understand the role played by various service providers. In other words, a lot of buyers know they'd like to own a house but aren't quite sure how to proceed. According to the survey, most of these home shoppers will lean on a real-estate agent for advice, guidance, and help finding affiliated services – with large majorities of respondents expressing a preference for working with professionals already affiliated with their agent's firm. Only family and friends ranked as highly as a source of Dallas real estate information. More here.

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Tim Stoll Real Estate 's insight:

Nearly 30 percent of future home buyers do not feel knowledgeable about real-estate transactions, while another 22 percent said they don't understand the role played by various service providers.

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Houses for sale dallas tx real estate. Home listings, news and information about buying homes and house selling in dallas texas. Tim stoll realtor® with keller williams urban dallas, the real estate agent you can trust. #lgbt #kwri #dallastx
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Pending Home Sales Soar To 10-Year High

Pending Home Sales Soar To 10-Year High | Houses For Sale Dallas TX Real Estate | Scoop.it
The National Association of Realtors' Pending Home Sales Index measures the number of contracts to buy homes that are signed in any given month. The index is considered a good predictor of future home sales because it tracks signings not closings, which take place roughly a month later. In April, pending home sales were up 5.1 percent and reached their highest level since February of 2006. Lawrence Yun, NAR's chief economist, said demand has exceeded expectations so far this spring. “The ability to sign a contract on a home is slightly exceeding expectations this spring even with the affordability stresses and inventory squeezes affecting buyers in a number of markets,” Yun said. “The building momentum from the over 14 million jobs created since 2010 and the prospect of facing higher rents and mortgage rates down the road appear to be bringing more interested buyers into the market.”
 
Markets in the South and West were particularly strong in April, with both seeing double-digit increases over the month before. Overall, the number of signed contracts to buy homes was 4.6 percent higher than it was at the same time last year. More here.
 
Tim Stoll Real Estate 's insight:

In April, pending home sales were up 5.1 percent and reached their highest level since February of 2006.

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Are Low Credit Scores Discouraging Home Buyers?

Are Low Credit Scores Discouraging Home Buyers? | Houses For Sale Dallas TX Real Estate | Scoop.it
A recent review of home loan activity conducted by CoreLogic reveals a significant difference between the average loan applicant today compared with 10 years ago. The analysis looked at possible reasons loan originations have dropped over the past decade. Tighter credit standards are often blamed for keeping potential buyers from entering the housing market. But – though credit availability is tighter today than it was before the financial crisis and recession – there hasn't been an equivalent increase in the number of applicants who have been denied loans.
 
This indicates that, though credit standards have been raised, they may not be the only reason loan originations have dropped. In fact, CoreLogic's analysis found that the average borrower credit score last year was nearly 750, while it was closer to 700 in 2005. The fact that average credit scores have increased could point to a drop in the number of loan applications from buyers with lower scores. If potential home buyers are being discouraged from applying for a loan because their credit score isn't optimal, it could be contributing to the overall drop in originations. It also means that loosening credit standards may not be the key to unlocking mortgage demand. Instead, consumers may need to be better informed about lending standards and how to check, correct, and maintain a good credit score. More here.
 
Tim Stoll Real Estate 's insight:

A recent review of home loan activity conducted by CoreLogic reveals a significant difference between the average loan applicant today compared with 10 years ago.

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Market Value in Dallas Seldom Equal their Replacement Values

Market Value in Dallas Seldom Equal their Replacement Values | Houses For Sale Dallas TX Real Estate | Scoop.it

Why Dallas Replacement and Market Value Don’t Equate “Ideal” is a Shangri-La kind of a word.

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Why Dallas Replacement and Market Value Don’t Equate “Ideal” is a Shangri-La kind of a word.

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Mortgage Rates At Lowest Level In A Year

Mortgage Rates At Lowest Level In A Year | Houses For Sale Dallas TX Real Estate | Scoop.it
According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were mostly flat last week. In fact, rates for 30-year fixed-rate loans with both conforming and jumbo balances were unchanged from one week earlier while rates for loans backed by the Federal Housing Administration and 15-year fixed-rate mortgages dropped. By the end of the week, average rates were as low as they'd been in nearly a year.
 
That didn't spur demand for mortgage applications, however, which fell 1.6 percent from the week before. Joel Kan, MBA's associate vice president of industry surveys and forecasting, told CNBC that the declining demand for home purchase loans was mostly seen at the higher end of the market. “Purchase applications jumped up during the first full week of April and had effectively remained at that level, on an unadjusted basis, before falling this week,” Kan said. “The seasonally adjusted purchase index decreased to the lowest level since February, led by declines in applications for larger home purchase amounts.”
 
Purchase volume was still almost 12 percent higher than one year earlier, despite the decline in jumbo loans. The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.

 

 
 
Tim Stoll Real Estate 's insight:
Average mortgage rates are as low as they'd been in nearly a year.

 

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Janet Howcroft's curator insight, May 25, 4:02 PM

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were mostly flat last week. In fact, rates for 30-year fixed-rate loans with both conforming and jumbo balances were unchanged from one week earlier while rates for loans backed by the Federal Housing Administration and 15-year fixed-rate mortgages dropped. By the end of the week, average rates were as low as they'd been in nearly a year. follow www.5starrealtygroup.net

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Builders Expect New Home Sales Bump

Builders Expect New Home Sales Bump | Houses For Sale Dallas TX Real Estate | Scoop.it

Builders are in an unique position to gauge home buyer traffic and demand for newly-built single-family homes. Because of this, their views are considered an important measure of the market's health and future outlook.

 

Each month, the National Association of Home Builders surveys builders and scores their responses on a scale where any number above 50 indicates more builders view conditions as good than poor. In May, the index was unchanged from the month before – remaining at 58 for the fourth-consecutive month. Robert Dietz, NAHB's chief economist, says a closer look at the numbers shows there is a lot of optimism about the market going forward. “The fact that future sales expectations rose slightly this month shows that builders are confident that the market will continue to strengthen,” Dietz said. “Job creation, low mortgage interest rates and pent-up demand will also spur growth in the single-family housing sector moving forward.” In fact, builders are so optimistic that the index component measuring sales expectations for the next six months jumped three points to 65, while gauges of buyer traffic and current sales stayed flat. Regionally speaking, three-month moving averages show the Midwest and South up a point, the West unchanged, and the Northeast down slightly. More here.

Tim Stoll Real Estate 's insight:

Builders are in an unique position to gauge home buyer traffic and demand for newly-built single-family homes.

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Homeownership Remains Goal For Millennials

Homeownership Remains Goal For Millennials | Houses For Sale Dallas TX Real Estate | Scoop.it
Housing and Urban Development Secretary Julian Castro says the idea that younger Americans aren't interested in homeownership is a myth and that it is as much a goal for them as it was previous generations. “The American Dream of homeownership is as strong today as ever,” Castro told the National Association of Realtors Regulatory Issues Forum. “And perhaps the best news of all is that millennials are showing that their generation is just as committed to homeownership as their parents and grandparents.”
 
Long seen as an essential part of achieving the American Dream, homeownership seemed to lose some of its appeal following the housing crash and financial crisis. Since then, a smaller than normal share of younger buyers have been active in the housing market – fueling the notion that they weren't interested in owning a home. But, according to one recent poll cited by Castro, 40 percent of millennials plan to buy their first home sometime in the next year. That high level of interest, combined with recent improvements to the labor market and economy, should result in more of those potential home buyers becoming actual buyers, according to Castro. In his view, student loan debt has been the main obstacle for young Americans hoping to purchase a home. More here.
 
Tim Stoll Real Estate 's insight:

Long seen as an essential part of achieving the American Dream, homeownership seemed to lose some of its appeal following the housing crash and financial crisis.

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New Home Market Strong Among Older Buyers

New Home Market Strong Among Older Buyers | Houses For Sale Dallas TX Real Estate | Scoop.it
The market for new homes among buyers over the age of 55 has been in positive territory for eight consecutive quarters, according to the National Association of Home Builders' 55+ Housing Market Index. The index measures builder confidence in the market for newly built single-family homes on a scale where any number above 50 indicates more builders view conditions as good than poor. Survey results for the first quarter of this year scored a 56, down five points from the previous quarter. Jim Chapman, chairman of the NAHB's 55+ Housing Industry Council, says sentiment overall was positive. “Although builder sentiment in the 55+ housing sector is down slightly from its peak, overall confidence is still in positive territory,” Chapman said. “Builders for the 55+ market are doing quite well in some areas across the country, while others are experiencing challenges that are hindering production.”
 
Despite those challenges, the number of builders expecting sales to be strong over the next six months was higher than ever. In fact, the index component measuring expected sales rose eight points to 71, which is the highest reading since the index began in 2008. On the other hand, gauges of current sales and buyer traffic were down from the previous quarter. More here.
 
Tim Stoll Real Estate 's insight:

The market for new homes among buyers over the age of 55 has been in positive territory for eight consecutive quarters.

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Majority Of Americans Say It's Time To Buy a Home

Majority Of Americans Say It's Time To Buy a Home | Houses For Sale Dallas TX Real Estate | Scoop.it
According to a recently conducted poll from Gallup, 66 percent of Americans say it's a good time to buy a home. That's up 12 percent from where it was following the housing crash but down slightly from the past few years. Most likely, the recent dip in optimism is a reaction to higher home prices. Low prices and record mortgage rates made buying a house an attractive proposition in the years following the crash.
 
However, as surging demand depleted the stock of houses available for sale, home values shot up. Now, despite mortgage rates still near record lows and a vastly improved job market, Americans' views of the housing market have begun to change. Though they are still positive, there is a growing concern that buying a house will soon become unaffordable for some buyers. This could explain why some parts of the country are more pessimistic than others. For example, people in the Midwest and South were generally more optimistic than those in the West, where home prices rebounded more quickly. It also explains why older and more financially secure Americans have the most positive perceptions of buying a house. Overall, however, Americans are eager to become homeowners. In fact, 59 percent of non-homeowners say they think they'll buy a house in the next 10 years. More here.
 
Tim Stoll Real Estate 's insight:
Low prices and record mortgage rates made buying a house an attractive proposition in the years following the crash.

 

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Janet Howcroft's curator insight, May 9, 11:31 AM

www.scoop.it/t/janet-howcroft-presentsAccording to a recently conducted poll from Gallup, 66 percent of Americans say it's a good time to buy a home. That's up 12 percent from where it was following the housing crash but down slightly from the past few years. Most likely, the recent dip in optimism is a reaction to higher home prices. Low prices and record mortgage rates made buying a house an attractive proposition in the years following the crash.

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Purchase Activity Flat As Rates Rise

Purchase Activity Flat As Rates Rise | Houses For Sale Dallas TX Real Estate | Scoop.it
According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were up slightly last week from the week before. In fact, rates rose across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages.
 
Though the increases were minor, it was enough to cause a 6 percent drop in refinance activity. Michael Fratantoni, MBA's chief economist, told CNBC there are fewer borrowers looking to refinance with rates at their current level. “Refinance activity decreased for the second-straight week because fewer borrowers have an incentive to refi at the current level of rates, but there are still some who respond to the small changes we have seen in recent weeks,” Fratantoni said. Since demand for loans to buy homes is less affected by weekly rate fluctuations, the Purchase Index was unchanged from the week before and remains 13 percent higher than the same week one year ago. The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.
 
Tim Stoll Real Estate 's insight:

Though the interest rate increases were minor, it was enough to cause a 6 percent drop in refinance activity.

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Are Low Rates Offsetting Higher Home Prices?

Are Low Rates Offsetting Higher Home Prices? | Houses For Sale Dallas TX Real Estate | Scoop.it
With home prices largely recovered from the crash, affordability is once again a concern for the average American home buyer. In fact, there has been a lot of discussion recently about whether higher prices will lead to a drop in buyer demand or if still low mortgage rates and a better job market will help keep demand high and affordability conditions favorable. According to Black Knight Financial's latest Mortgage Monitor, demand is still healthy but home price increases have begun to cut into the amount of savings buyers can expect from historically low rates.
 
For example, without factoring in home price movement, recent mortgage rate declines would be saving buyers approximately $44 a month on their monthly payment. However, when including the rate of price gains, that savings falls to $18. Ben Graboske, Black Knight's data and analytics SVP, says home prices are muting the effect low mortgage rates are having on housing affordability. “By and large, borrowers are still seeing net reductions in monthly payments across the country heading into the early home buying season,” Graboske said. “In some areas though, prices are appreciating so quickly that they may have fully offset any savings from rate declines.” However, declining mortgage rates have had a positive impact on housing affordability. According to Graboske, without falling rates, home buyers would have been paying an additional $28 a month for the median-priced home compared to the end of last year. More here.
 
Tim Stoll Real Estate 's insight:

Borrowers are still seeing net reductions in monthly payments across the country heading into the early home buying season.

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Pending Home Sales Signal Strong Spring

Pending Home Sales Signal Strong Spring | Houses For Sale Dallas TX Real Estate | Scoop.it
For the second straight month, pending home sales increased from the month before, according to new numbers released by the National Association of Realtors®. The Pending Home Sales Index – which measures contract signings not closed sales – was up 1.4 percent from the previous month and reached its highest reading in almost a year.
 
Lawrence Yun, NAR's chief economist, says March's increase is a sign that the spring home buying season is off to a solid start. “Despite supply deficiencies in plenty of areas, contract activity was fairly strong in a majority of markets in March,” Yun said. “This spring's surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing and are taking away some of the sting from home prices that are still rising too fast above wage growth.” Though affordability concerns persist, there is still strong demand from buyers – which is being sustained both by low borrowing costs and an improved job market. Regionally, only the West saw a decline in March, falling 1.8 percent from the month before. The Northeast and South were both up approximately 3 percent, while the Midwest was mostly flat. More here.

 

 
 
Tim Stoll Real Estate 's insight:

“This spring's surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing and are taking away some of the sting from home prices that are still rising too fast above wage growth.” Lawrenec Yun ,NAR

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New Home Sales On Pace To Surpass Last Year

New Home Sales On Pace To Surpass Last Year | Houses For Sale Dallas TX Real Estate | Scoop.it

New numbers released by the U.S. Census Bureau and the Department of Housing and Urban Development show sales of new homes down 1.5 percent in March from February's estimate. However, the monthly total doesn't tell the whole story. A closer look at the report reveals that combined sales for December, January, and February were revised upward by 23,000.

 

Along with the fact that new home sales are still 5.4 percent above last year's level, that means sales are still on pace to beat last year's total – which was the best year of sales since 2007. In fact, so far this year, new home sales are already 1.3 percent above the same period last year. Also, economists expect that – though the first quarter of this year has been slower than anticipated – things should pick up as the year goes on. In addition to the relatively good sales news, the median price of a new house was down slightly last month. The report found the median sales price of new homes sold in March was $288,000; the average price was $356,200. More here.

Tim Stoll Real Estate 's insight:

The report found the median sales price of new homes sold in March was $288,000; the average price was $356,200.

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Home Sales in Dallas: More than a Glass Half-Full

Home Sales in Dallas: More than a Glass Half-Full | Houses For Sale Dallas TX Real Estate | Scoop.it

Predicting Home Sales in Dallas: More Quandary Than Certainty Even the least vigilant of the Dallas real estate market watchers had their antennae out last week, the traditional time of month when home sales statistics are released from the most...

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Even the least vigilant of the Dallas real estate market watchers had their antennae out last week, the traditional time of month when home sales statistics are released from the most...

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New Home Sales Post Biggest Gain Since '92

New Home Sales Post Biggest Gain Since '92 | Houses For Sale Dallas TX Real Estate | Scoop.it
Sales of newly built, single-family homes rose 16.6 percent in April, according to new estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. The gain was the largest month-over-month increase since 1992 and puts new home sales nearly 24 percent higher than they were last year at this time.
 
Combined with rising housing starts, building permits, and sales of previously owned homes, the improvement is another sign that the housing market and economy are gaining strength. And, though economists expected new home sales to increase in April, the actual numbers far exceeded their predictions. In fact, economists polled by Reuters forecast sales rising to a 523,000 unit-rate, while the official estimate came in at 619,000. Regionally, the South, West, and Northeast saw dramatic double-digit increases over the previous month. The Midwest, on the other hand, experienced a 4.8 percent drop in sales. The report also included news that the median price for a new home set a new record at $321,100, up 9.7 percent from last year. More here.
 
Tim Stoll Real Estate 's insight:

This gain was the largest month-over-month increase since 1992 and puts new home sales nearly 24 percent higher than they were last year at this time.

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Janet Howcroft's curator insight, May 26, 9:33 AM

Sales of newly built, single-family homes rose 16.6 percent in April, according to new estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. The gain was the largest month-over-month increase since 1992 and puts new home sales nearly 24 percent higher than they were last year at this time.

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Sales of Existing Homes Up In April

Sales of Existing Homes Up In April | Houses For Sale Dallas TX Real Estate | Scoop.it
Sales of previously owned homes rose for the second-consecutive month, according to new numbers released by the National Association of Realtors®. In April, existing-home sales – which includes single-family homes, townhomes, condominiums, and co-ops – increased 1.7 percent, beating economists' expectations and pushing sales 6 percent above last year's level. Lawrence Yun, NAR's chief economist, said April's increase is a sign that the housing market is slowly building momentum. “Primarily driven by a convincing jump in the Midwest, where home prices are most affordable, sales activity overall was at a healthy pace last month as very low mortgage rates and modest seasonal inventory gains encouraged more households to search for and close on a home,” Yun said. “Except for in the West – where supply shortages and stark price growth are hampering buyers the most – sales are meaningfully higher than a year ago in much of the country.”
 
A look at regional results shows the South and West both down slightly from the month before, while the Northeast posted a 2.8 percent improvement and the Midwest surged 12.1 percent. Also in the report, the number of homes available for sale rose 9.2 percent. More here.
 
 
Tim Stoll Real Estate 's insight:

Sales of previously owned homes rose for the second-consecutive month, according to new numbers released by the National Association of Realtors®

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Janet Howcroft's curator insight, May 25, 9:45 AM
ales of previously owned homes rose for the second-consecutive month, according to new numbers released by the National Association of Realtors®. In April, existing-home sales – which includes single-family homes, townhomes, condominiums, and co-ops – increased 1.7 percent, beating economists' expectations and pushing sales 6 percent 
 
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Spring Housing Rebound To Follow Slow 1st Quarter

Spring Housing Rebound To Follow Slow 1st Quarter | Houses For Sale Dallas TX Real Estate | Scoop.it

Much like last year, the first quarter of 2016 was slower than expected. Both the housing market and broader economy showed weakness amid harsh winter weather and global economic uncertainty. But also like last year, Fannie Mae's Economic & Strategic Research Group says economic growth should rebound in the spring and continue to grow through the remainder of the year. Doug Duncan, Fannie Mae's chief economist, says an uptick in hours worked and average hourly earnings should help support consumer spending, which will help boost the economy.

 

He also expects home sales to climb. “Home sales are expected to pick up heading into the spring season amid the backdrop of declining mortgage rates, rising pending home sales and purchase mortgage applications, and continued easing of lending standards on residential mortgage loans,” Duncan said. “Meanwhile, the homeownership rate showed signs of stabilizing during the first quarter of this year, as the relatively high homeownership rates among Baby Boomers have helped offset low homeownership rates among Millennials, many of whom remain on the sidelines due to ongoing affordability issues.” More here.

Tim Stoll Real Estate 's insight:

Economic growth should rebound in the spring and continue to grow through the remainder of the year.

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Janet Howcroft's curator insight, May 21, 2:21 PM

Much like last year, the first quarter of 2016 was slower than expected. Both the housing market and broader economy showed weakness amid harsh winter weather and global economic uncertainty. But the market now is busier than ever! follow www.5starrealtygroup.net

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Home Home Construction, Permits Rise In April

Home Home Construction, Permits Rise In April | Houses For Sale Dallas TX Real Estate | Scoop.it

The number of new homes that began construction in April was 6.6 percent higher than the previous month, according to new numbers released by the U.S. Census Bureau and the Department of Housing and Urban Development. The improvement, which included a surge in multifamily construction, also included a 3.3 percent jump in the number of single-family homes that broke ground during the month.

 

That's good news for homebuyers because any increase in new home construction boosts the number of homes available for sale, which helps balance the market and keeps prices from rising too quickly. Buyer demand has been high so far this spring but, because for-sale inventory has been low, prospective buyers have fewer homes to choose from and less room for price negotiation. Also in the report, there was an 1.5 percent increase in the number of authorized building permits to build single-family homes – which is a good sign that new home construction will continue to improve in coming months. The newly released figures outpaced economists' expectations and were another sign that the economy and housing market, which had slowed to start the year, have begun to pick up. More here.

Tim Stoll Real Estate 's insight:

A surge in multifamily construction, also included a 3.3 percent jump in the number of single-family homes that broke ground during the month.

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Janet Howcroft's curator insight, May 25, 4:05 PM

The number of new homes that began construction in April was 6.6 percent higher than the previous month, according to new numbers released by the U.S. Census Bureau and the Department of Housing and Urban Development. The improvement, which included a surge in multifamily construction, also included a 3.3 percent jump in the number of single-family homes that broke ground during the month.

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What Neighborhood Features Hurt Home Values?

What Neighborhood Features Hurt Home Values? | Houses For Sale Dallas TX Real Estate | Scoop.it

When searching for a house to buy, it’s easy to focus in on the home itself and forget to have a look around the neighborhood. But, as the saying goes, real estate is all about location. Source: theurbandallaslifestyle.com What’s Your Home Worth?

Tim Stoll Real Estate 's insight:

When searching for a house to buy, it’s easy to focus in on the home itself and forget to have a look around the neighborhood. But, as the saying goes, real estate is all about location.

www.UrbanDallasHomeValues.com

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Selling Dallas Homes - Painless First Steps

Selling Dallas Homes - Painless First Steps | Houses For Sale Dallas TX Real Estate | Scoop.it

Selling Dallas homes takes patience and once the momentum gets going, the rest of the pieces tend to fall into place. Let me show you the painless way.

Tim Stoll Real Estate 's insight:

Selling Dallas homes takes patience and once the momentum gets going, the rest of the pieces tend to fall into place. Let me show you the painless way.

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FSBO Top 5 Reasons Dallas Homeowners Should Avoid

FSBO Top 5 Reasons Dallas Homeowners Should Avoid | Houses For Sale Dallas TX Real Estate | Scoop.it

FSBO - for sale by owner signs, any urban Dallas homeowner should think twice before planting one of those signs on their front lawn.

Tim Stoll Real Estate 's insight:

FSBO - for sale by owner - Top 5 Reasons Dallas Homeowners Should Avoid 

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Janet Howcroft's curator insight, May 10, 8:12 PM

FSBO - for sale by owner signs, any New Engalnd homeowner should think twice before planting one of those signs on their front lawn. follow www.5starrealtygroup.net

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Nearly 90% Of Markets Improved In Last Year

Nearly 90% Of Markets Improved In Last Year | Houses For Sale Dallas TX Real Estate | Scoop.it
The National Association of Home Builders' Leading Markets Index scores individual housing markets based on their average permit, price, and employment levels for the past 12 months compared to their last period of normal growth. According to the most recent release, 86 percent of markets across the country have shown an improvement year-over-year. Robert Dietz, NAHB's chief economist, says home prices are the strongest of the index's components. “Among the LMI components, house prices continue to make the most widespread gains, with 324 markets having returned to or exceeded their last normal levels,” Dietz said. “Meanwhile, 66 metros have reached or exceeded normal employment activity.
 
Single-family permits have inched up to 49 percent of normal activity, but remain the lagging part of the index.” Overall 119 of the approximately 340 metropolitan areas covered by the index have returned to or exceeded their last normal levels of economic and housing activity as of the first quarter of this year. That's a year-over-year gain of 45 markets. And – though the housing market's recovery has been slow and gradual – according to the NAHB, it's headed in the right direction and should continue at a steady pace throughout the remainder of this year. More here.
 
Tim Stoll Real Estate 's insight:

Year-over-year gain of 45 real estate markets.

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Home Sellers See Biggest Gains Since 2007

Home Sellers See Biggest Gains Since 2007 | Houses For Sale Dallas TX Real Estate | Scoop.it
A new analysis of 125 metropolitan areas found that Americans who sold their homes in March sold them for an average of $30,500 more than they originally paid for them. That's the highest average price gain of any month since December 2007, according to the report from RealtyTrac. Daren Blomquist, RealtyTrac's senior vice president, says the numbers should be encouraging to current homeowners. “Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom,” Blomquist said. “That should encourage more homeowners to take advantage of the prime seller's market and list their homes for sale this year.
 
Banks are already taking advantage of that market as evidenced by the uptick in the distressed sales share over the last two quarters.” Though home price gains may seem like bad news for prospective buyers, the more homeowners who put their homes up for sale this year, the better the market will be for buyers. That's because, home prices are largely driven by a lack of available homes for sale. As more homes become available, buyers will have more choices and more negotiating power – which will help moderate future price gains and balance the market. More here.
 
Tim Stoll Real Estate 's insight:

Americans who sold their homes in March sold them for an average of $30,500 more than they originally paid for them.

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Market Value in Dallas Seldom Equal their Replacement Values

Market Value in Dallas Seldom Equal their Replacement Values | Houses For Sale Dallas TX Real Estate | Scoop.it
Why Dallas Replacement and Market Value Don’t Equate “Ideal” is a Shangri-La kind of a word.
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www.HomeValueEstimatorDallas.com - Free Home Evaluation

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What Neighborhood Features Hurt Home Values?

What Neighborhood Features Hurt Home Values? | Houses For Sale Dallas TX Real Estate | Scoop.it
When searching for a house to buy, it’s easy to focus in on the home itself and forget to have a look around the neighborhood. But, as the saying goes, real estate is all about location.
Tim Stoll Real Estate 's insight:

What's Your Home Worth? www.UrbanDallasHomeValues.com

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Economy Outlook Unchanged Despite Slow Growth

Economy Outlook Unchanged Despite Slow Growth | Houses For Sale Dallas TX Real Estate | Scoop.it

Despite the fact that economic growth stalled during the first quarter of the year, the outlook for the remainder of the year has not changed, according to Fannie Mae's Economic & Strategic Research Group's April 2016 Economic and Housing Outlook. In fact, the group's latest forecast calls for a pickup in consumer spending and overall growth during the second quarter. Doug Duncan, Fannie Mae's chief economist, says the housing market should also remain steady, despite some challenges. “Our forecast for housing activity, mortgage rates, and mortgage originations are little changed in the April forecast,” Duncan said. “We expect total mortgage originations to decline about 9 percent in 2016 to $1.56 trillion, with a refinance share of 40 percent.

 

Sustained improvement in the labor market and personal incomes among young adults should draw more potential home buyers into the housing market, but many will continue to face affordability challenges. Home price growth has been rising at a faster clip than incomes, and the increasing supply of single-family housing is skewed toward larger and less affordable homes. These factors continue to weigh on housing affordability, particularly for first-time home buyers.” More here.

Tim Stoll Real Estate 's insight:

Economic growth stalled during the first quarter of the year, the outlook for the remainder of the year has not changed,

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