PatO Homes - the Right Move!

The Time to Buy in DFW IS NOW!!!!

Here is a recent article from the Wal  Street Journal. The time to buy real estate in Dallas Forth Worth is now!!!!

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REAL ESTATE Where Housing Is Headed A look at fundamental indicators in 28 major real-estate markets. (See related article)   — Compiled by James R. Hagerty, 01/24/08 Overall Strength of Each Metro Area Strong: Good job-growth prospects and moderate housing inventory in relation to sales Moderate: Less buoyant job growth and/or high inventories Weak: High inventories and job growth prospects no better than average Metro area Overall Strength of Metro Area Change in housing inventory* Months supply** Price change*** Employment outlook**** Loan payments overdue***** Atlanta Moderate 13% 11 -.7% Strong 5.21% Boston Moderate -8.3% 5 -3.6% Weak 3.53% Charlotte , N.C. Moderate 19% 7.8 4.3% Strong 3.69% Chicago Weak 3.3% 10 -3.2% Weak 3.47% Dallas Strong 0% 5.9 -.1% Strong 4.53% Denver Moderate -3.8% 5.7 -1.8% Average 3.71% Detroit Weak 12% 19 -11.2% Very Weak 5.3% Houston Strong 12% 6 N/A Strong 4.60% Jacksonville , Fla. Weak 11% 12 N/A Average 4.49% Las Vegas Weak 21% 18 -10.7% Average 6.38% Los Angeles Weak 33% N/A -8.8% Weak 4.06% Miami-Ft. Laud. Weak 20% 29 -12.4% Average 7.15% Mpls-St. Paul Moderate 17% 8 -5.5% Average 3.57% Nashville Moderate 26% 5.9 N/A Average 3.62% New York Moderate 6.2% N/A -4.1% Very Weak 3.71% Orange County , Calif. Weak 28% 9.2 N/A Weak 3.26% Orlando Moderate 24% 17.5 N/A Strong 5.44% Philadelphia Weak 3.8% 8.7 N/A Weak 3.24% Phoenix Weak 23% 12 -10.6% Weak 4.29% Portland , Ore. Moderate 36% 5.7 1.9% Average 2.33% Raleigh-Durham , N.C. Moderate 24% 5.6 N/A N/A N/A Sacramento Weak 26% 10 N/A Average 4.94% St. Louis Weak 17% 7.5 N/A Weak 3.63% San Diego Weak 20% N/A -11.1% Weak 3.99% San Francisco Moderate 42% 6.6 -6.2% Average 2.91% Seattle Moderate 50% 4.9 3.3% Average 2.13% Tampa Weak 13% 16 -11.8% Average 5.31% Washington , D.C. Moderate 26% 7.5 -7% Average 3.91% * Change from a year ago in the number of single-family homes, condos, townhouses and co-ops offered in multiple-listing services at the end of December 2007. ** Number of months that homes listed at year end would last at the average 2007 sales rate. Listings normally decline for seasonal reasons in December and rebound in January. *** Average price level in October compared with a year earlier based on S&P/Case-Shiller index. **** Job growth projections by Moody's Economy.com for the two years ending Dec. 31, 2009. Characterization is in relation to the growth consistent with a stable national unemployment rate. ***** Percentage of mortgage loans 30 days or more delinquent in latest quarter, based on data from Equifax and Moody's Economy.com. U.S. average is 3.98%. Sources for inventory: Otteau Valuation Group, ZipRealty, Smart Numbers, Prudential California Realty, MLS Property Information Network, MLS of Northern Illinois, Real Estate One, Esslinger-Wooten-Maxwell, Corcoran Group, Consolidated MLS, Prudential Fox & Roach, Arizona Regional MLS, Trendgraphix, Northwest MLS, RE/MAX Real Estate Services, Aliso Viejo, Calif. and local Realtor associations

Dallas Fort Worth Real Estate in 1988

This is a recent article sent out by my Broker, Mark Wolfe. He has been in the real estate market in Dallas Fort Worth fior over 25 years. He has seen and done it all over those 25 years. Here is his take on the market in 2008.

“Our Real Estate Market in 2008, A Look Back to 1988”

The year was 1988……

The real estate market crashed in

Dallas

…..

We had an oil boom that had become an oil bust in

North Texas

.  We had a savings and loan and banking industry bust in

North Texas

.  Dozens of major financial institutions went bankrupt.   The real estate boom of the previous ten years had gone bust as the in-migration to

Texas

had come to a halt.  The

United States

had entered a recession and the worst markets in the nation were Dallas and Houston due to their dependence on oil, banking and real estate.

The year is now 2008….twenty years later.

The news media is telling us the real estate market is attempting to crash.  And it may crash in some parts of the nation.  But things are very different in

Texas

today than twenty years ago.  Other parts of the country have severe problems, but

Texas

, and particularly

Dallas

, learned from the mistakes of twenty years ago. 

Dallas

is a very diversified city today and a city of great diversity.

RE/MAX DFW Associates, like all area real estate companies, went through some turbulent times in 1987-1988 as thousands of homes went into foreclosure and 40% of all Realtors left the industry in

Dallas

.  We survived to be the RE/MAX DFW Associates of 2008.

The market in DFW is strong. The population is growing. Jobs are being created...The future is bright. Dallas Fort Worth is a great place to live and work!!!

Pato in DFW

HOW RISKY IS THE HOUSING MARKET?

According to an article by Steve Brown [email protected] in the Dallas Morning News today, Fort Worth and Dallas are the least likely risk of Home price decline. Great news for the DFW Market!!!

The report from PMI Group (Mortgage Insurance Firm) states that the chances of a house price decline rose in almost four out of five U.S. markets. Dallas and Fort Worth ranked dead last in PMI Group's latest forecast of cities with the biggest chance for a home price shakeout. The analysts estimate that Dallas-Fort Worth has less than a 1 percent chance of marked home price drops in the next two years, while places in California, Nevada and Arizona could have an up to an 80 percent likelihood of declining residential values.

Steve Brown writes...because Texas did not participate in the double-digit home price gains in the first half of the decade, it doesn't have to take the great pain of the areas that are compensating for that now. Home values in North Texas have been relatively flat while they are falling in many other major U.S. cities.

Now that the housing sector is in a slump, home values in North Texas have been relatively flat while they are falling in many other major U.S. cities.

Most Texas cities are outpacing the rest of the country in overall economics and job growth is above the national average.

And other national surveys show that North Texas' housing market is outperforming those in the rest of the country.

Even so, pre-owned home sales were down about 8 percent last year, and sales of new homes fell about 17 percent in 2007.

Foreclosure rates also continue to rise.

Analysts are therefore keeping a close eye on D-FW home prices for signs of deterioration.

"HOW RISKY IS THE HOUSING MARKET?

Markets with the most and least risk of a home price decline, based on price appreciation, economic growth and affordability according to PMI Group, one of the country's largest mortgage insurance firms. An index of 100 means there is a 100 percent chance of home prices falling in the next two years.
MOST RISKY
Riverside, Calif.	94
Las Vegas	89
Phoenix	83
Santa Ana, Calif.	81
Los Angeles	79
LEAST RISKY
Fort Worth	Less than 1
Dallas	Less than 1
Pittsburgh	Less than 1
Houston	Less than 1
San Antonio	Less than 1
SOURCE: PMI Group

Pato in DFW

It's your thoughts behind the words you speak that create your attitide...J. Gitomer

  Jeffrey Gitomer has a series of books that can benefit everyone in sales. Anyone breathing is in sales. We sell how great we are when we apply for a job, we sell our ideas at work to get that promotion. We sell to our kids to get them to do the right thing. We all sell.....The Sales Bible...The Little Red Book of Selling and others are easy to read and impactful. Gitomer also has a weekly e-zine ..Sales Caffeine that is FREE. Free is good.....Go to www.gitomer.com for info on the books and to sign up for the FREE (free is good) e-zine.

Pato in DFW
www.patohomes.com
[email protected]

Glazing in Coppell

I just came back from a clients home that is remodeling an 80's style house in Coppell. The place looks incredible. New paint, texture walls, granite, new tub. He is doing a fantastic job. One interesting thing he has done is painted and glazed the cabinets. If you do not want to or have the cash too buy all new cabinets, try repainting and glazing.

Here is an article on glazing from DIY...www.diynetwork.com. It a great website for home improvement how tos.

Glazing the Cabinets Glazing the Cabinets From "Weekend Decorating" episode WDC-208 -- More Projects » Glaze will give the newly painted cabinets an older look and complement the look of the newly designed kitchen. Glaze is simply paint mixed with water or solvent, and it can be purchased premixed, or you can mix your own. If you are using latex-based paint, mix with water with a ratio of four parts water to one part paint, and if you are using oil-based paint, mix with a solvent to a ratio of three parts solvent to one part paint. Figure A Figure B The kitchen cabinets after staining. This glazing process is very forgiving: if you don't like how it looks, you can wipe it off and reapply. It is not a perfect process, so expect your cabinet doors to vary slightly. If your cabinets are flush panels, you will not get the same effect. The raised panels used here allow the stain to settle into the seams and give the feeling of depth. Steps: When using wood stains, remember: They are messy. Use drop cloths to cover everything around the cabinets, and tape off any areas that might be stained by accident. When using oil-based paint or wood stains, you need to use a natural- or china-bristle brush. This type of brush will not expand and gives a cleaner finish. Apply the stain (two parts chocolate-brown stain to one part sable-brown stain), going with the grain of the wood (figure A). It's okay if the stain stays in the grain or in the ridges: that's natural to this process. Use a towel or rag to wipe over the freshly applied stain (figure B). This will give a striated look, with the edges staying slightly darker. As the surface dries, it becomes tacky to the touch and will not allow the towel to move over it smoothly. To prevent the surface from becoming too tacky to wipe down, stain and wipe one cabinet door at a time. Drying time is approximately eight hours. Next: Tiling the Floor ALSO IN THIS EPISODE: Kitchen / Breakfast Nook -- Getting Started Glazing the Cabinets Tiling the Floor Finishing Touches His turned out looking awesome. I'm thinking of trying my hand at it????? Pato in dfw

Lynne M Carpenter owner of LANDSCAPE ARTIST Design & Service

Our  TEXAS LANDSCAPE in

winter

Are your garden areas looking brownish gray about this time of year?

Walking up to your front door, you notice some stringy weeds, some dried flowers from summer, and a lot of dull brownish gray – plain ol’ dirt, uncovered. Spruce up your entry with some bright colored pansies – golden yellow, blue, and clear white with purple spots. Pansies are sold at discount stores as well as specialized garden centers. Add a few purple cabbages – quite decorative - and you will have a welcoming sight as you come up your walk to your front door. Remember to freshen the mulch around the new plants and you will have a nice cleaned-up look. These plants need little watering, since rainy days are coming anyways, and these plants will last through April when it’s time to plant the begonias – unless you have some daffodils springing up that you planted back in December.

A little thought, a little color, and you will enjoy the walk up to your front door – every season of the year – even in WINTER!

From Lynne M Carpenter owner of LANDSCAPE ARTIST Design & Service

A Certified Texas Professional Landscape company  –  All contractors are insured.

972-345-0874  –  [email protected]

Lake Highlands and the lady of White Rock Lake

Recently I have been showing a client the Lake Highlands Area. Its a area close to White Rock Lake Park which is home to the White Rock Marathon. The White Rock Marathon is recognized as a top 10 marathon within the United States, and serves as a Boston qualifier. The primary beneficiary of the marathon is Texas Scottish Rite Hospital for Children located in Dallas.

Now for the really good part...the legend of the Lady of White Rock Lake. Once upon a time...The tale goes (there are a lot in the area saying the story is true) that a ghost of a girl in her early 20s, dripping wet in 1920s dinner evening wear, will appear at night, and a car passing along the road circling the lake will stop. The girl tells the driver she had an accident and needs to get home. The driver will then drive to the address given, and when he (or she) arrives, the girl is gone, leaving only a waterlogged seat where she was sitting. The driver then learns after knocking on the door of the house that the girl was their daughter-- she died by drowning when she fell out of a boat on the lake at night many years ago. Some later stories report that the driver taking the girl going to the address arrives, and the house is no longer there: it was torn down years ago and is now the site of an apartment complex. Reports of the ghostly encounters were published in Dallas-area newspapers in the 1960s.

Even with this wacko wet girl in her 1920s dinner evening wear it's a great area to live in Dallas.

Pato in DFW

Grants For First Time Home Buyers in Lewisville Texas

HOMES IN LEWISVILLE

Lewisville has a aggressive grant program to entice first time home owners to purchase in their city.

This is from the City Of Lewisville website... http://www.cityoflewisville.com

WELCOME TO THE CITY OF LEWISVILLE HOMEBUYER ASSISTANCE PROGRAM (HAP)!

The purchase of your first home is one of the greatest investments made by individuals and families. Knowing that many people need help getting into that first home, the City of Lewisville created the First Time Homebuyer Assistance Program (FHAP) to support affordable homeownership by providing down payment, closing cost and principal reduction assistance for low to moderate-income first time homebuyers. The program is funded through an annual entitlement grant called Community Development Block Grant (CDBG) from the U.S. Department of Housing and Urban Development (HUD).

Links:
Minimum Qualifications
Notice to Seller
Inspection Checklist

Homebuyer Education Classes (Homebuyers Only) In an effort to contribute to long-term, sustainable homeownership, the City of Lewisville First Time Homebuyer Assistance Program partners with Consumer Credit Counseling Services (CCCS) of Dallas and community professional sponsors to host a H.U.D.-approved homebuyer education course for all interested first-time homebuyers. Regardless of whether you want to participate in the City of Lewisville homebuyer assistance program (min of 8 homebuyer education hours required) or you just want to learn about how to buy a home, we welcome everyone! Professionals from the mortgage, real estate, and insurance industries will be present to introduce their roles and services in the process and answer any questions about the home buying process. All classes include free HUD-approved Certificates of Completion and pizza for all graduates of the 8-hour class. Classes are open to the public, and are for interested home buyers. No minimum qualifications to attend. If you need more information email me at [email protected] and visit www.patohomes to see homes for sale in Lewisville. Pato in DFW

WHAT IS HE THINKING????

I was showing condos in Dallas yesterday. My client is a first time home owner recently graduated from the great UT...the one and only UT...University of Texas that is!!! My client, her mom  and I are having a great time getting to know each other when we arrive at our next condo. The place is a converted apartment complex which seems to be a common thing in the Knox Henderson area of Dallas. As we approach the door we notice a foul smell. The entrance way to this condo has become someone's pet's personal toilet. This was the second worst thing I have seen as an agent. Obviously my clients passed this one up and was completely grossed out...This was not one visit by the pet and seems to have been going on for a while. There is no way the listing agent doesn't know about this!!!

What is he thinking?????

Pato in DFW

Homes for sell in Irving Texas

The city of Irving Texas continues to be the aggressor of first time homeowners and offer grants to mid to low income residents. Depending on the income level of the person and on the number of people in the family, you could be eligible for up to $30,000. Not a bad chunk of change. You must apply for the grant before you sign a contract on a home. There are other stipulations. Look for more information at Fiscal Year 2007-2008 CDBG, HOME, AND ESG APPLICATION or email me and I will send it to you.

Irving was recently named " One of the Most Technologically Advanced Cities in the United States". For more on this award click http://cityofirving.org/news-articles/Digital-Cities.html

Pato in DFW