Dallas area is a good place to build equity in your home!

According to the Dallas Morning News, a new study by the Center for Economic and Policy Research and National Low Income Housing Coalition projects that DFW homebuyers could see one of the best increases in equity in the country during the next few years. That could be why the Dallas/Fort Worth area is seeing a huge influx of people moving to the area. In March 2008 alone (most recent figures available) 168,000 new people moved to the metroplex. The comprehensive report looked at home ownership and rental costs and the prospects for building home equity in 100 metropolitan areas. In terms of building equity, the DFW area is among the top five markets expected to do well between now and 2012. A homeowner who buys a house priced at 75% of the median for the area could gain more than $80,000 in equity four years from now, the study finds.

Farmers Branch new construction foreclosure that we could negotiate down to 75% of median home values in the neighborhood.

This is easier to do when you are getting in on the ground floor of a new build community, at the close-out of a community or with a foreclosure, REO or short sale. We have relationships with new home builders and know where the best values are in new community start-ups, close-outs and foreclosures, REO’s and short sales in Allen, Las Colinas, Irving, Frisco, McKinney, Richardson, Plano, Carrollton, Farmers Branch, Addison, The Colony, and Little Elm where we’ll be able to negotiate these types of bargains! Just contact us. (terri.h@kw.com)

Looking to sell your home in Griffin Parc, Frisco, Tx?

Michael O Custom Builders, Wylie Custom Homes, Rossi Custom Homes and other Griffin Parc builders are putting some of their homes in the MLS, so that’s helping with the comps and to balance out some of the foreclosures in the area which is great news for you!

The statistics on what’s recently been sold in Griffin Parc on average looks like this:

	# BR	SqFt	Yr Blt	CDOM	List Price	SP %LP	Sale Price
Avrg	4	3,418	2005	141	334,559	94%	312,856

So, what does that mean? It means, on average, home sellers in Griffin Parc are selling 4 bedroom homes with 3,418 sq. ft. built in 2005. The number of cumulative days on market the homes are spending is 141. Now, if you throw out the quickest sale which was 7 days and the slowest sale which was 431 days, (throw out the low and high which can skew the numbers a bit), then it’ll clean it up to 131 days on market. The average listing price is $334,559 and the percentage of sales price to list price that sellers are asking for and receive is 94% which puts the average sales price at $312,856.

In North Texas, 79 days is the average time it takes to sell a preowned house. That compares to more than 100 days on the market to sell in most large U.S. cities. A new report by analysts at Altos Research and Real IQ finds that the Dallas area has one of the fastest home sales times in the country. In just Dallas alone, they estimate the average sales time is 85 days. Of course, these are just averages, but they give you an idea of what’s going on in the market.

The new FHA loan limit was recently raised up to $271,050 which will help bring in a bigger buyer pool for your homes. Even while buyers are now starting to drop off the proverbial fence sitting in buying homes and the market is starting to shift, they are able to get qualified for a loan which is a welcome relief. The buyer pool in the $350+ market has not been nearly as affected by the sub-prime market fall-out.

Here are some homes that have just sold in Griffin Parc:

If you’re interested in selling your home in Griffin Parc in Frisco, or elsewhere, please contact us at terri.h@kw.com