PMI, Inc., the provider of the nation’s Private Mortgage Insurance, has come out with their quarterly Risk Index of the largest Metropolitan Statistical Areas for the 2nd quarter of 2010. The Risk Index uses economic, housing, employment and mortgage market factors to determine the probability of home prices falling in the next 12 months, per specific area. There is much good news if you live in our own north Texas!
During the first quarter of 2010, risk decreased in 40 of the nation’s 50 most populated (Top-50) MSAs and the average national risk score has dropped for 3 consecutive quarters now.
And for North Texas, the good news gets better:
- The city with the least risk and lowest probability of home prices declining is listed as Columbus, Ohio. *The Ft Worth-Arlington MSA remains a low risk and comes in at #8 least risky. Dallas-Plano-Irving MSA comes in at #9 with a low risk of home prices declining.
- Miami, FL and Las Vegas, NV remain the markets most likely to experience price declines with a 99.9% chance, using the indexing factors.
Today’s real estate market in North Texas, with stable prices and low mortgage rates should encourage
Homebuyers – whether they are personal home buyers or investors. It’s a great time and a great place to purchase real estate!
Save the date now, Thursday, October 21st, for the Roadshow with a Purpose by Billy McLaughlin and Rhett Butler to benefit KW Cares. Unbelievable talents with a guitar, beautiful songwriting and melodies that you won’t forget, along with tremendous hearts for helping others…..what a perfect evening this will be! Stay tuned for more details, but mark your calendars now!
At KW Metro North we try to stay positive! With so much attention being put on what’s going wrong, we take a moment to center ourselves on what’s going right.
– CNN/Money Magazine’s August 2010 issue includes this years Top-Earning Towns in the U.S. list….and Flower Mound came in ranked #14
– August 20 -22, 2010 is Texas’ Tax Free weekend
– Dallas-Fort Worth and the three other major Texas markets registered the nation’s strongest employment gains during the past five years, according to figures released Wednesday morning by the U.S. Bureau of Labor Statistics
For more good news and to read more about the above stories, see our quick guide to KW Good News 08-10.
We are proud to announce our affiliation with State CE, a licensed online provider of real estate licensing & continuing education classes. Anyone considering getting their real estate license, or any agent needing their continuing education credits, should contact Anne at firstname.lastname@example.org to get the details and a discount code. We always recommend that people attend classroom instruction when possible, in order to get the full effect of stories being related and questions asked by peers….however we all know that sometimes reality requires that we take classes online. Now you can get a great discount with one of the industry’s leading providers through KW Dallas Metro North!
On August 17th, our office will be holding a Book Fair to benefit KW Cares.
This is a great opportunity to clean out your closets and bookshelves….and for a great cause! We are just finishing our school supply drive, and it is time to assure that our KW Cares coffers remain full so we are ready when needs arise. Bring us your books, and come by to buy books – get ready for some wonderful fall evenings (hopefully they are just around the corner!) spent with a great new read that you pick up at our Book Fair!! Be sure to visit our office at 2611 Cross Timbers in Flower Mound from 8:30am – 5:30pm on August 17th for the Book Fair.
Get “on top” of the new stacked roadway under construction.
Tuesday, September 28, 2010 at 7:00pm
3605 Yucca in Flower Mound (across Yucca from Kohl’s)
Read more here.
DFW Highway Connector Project Update & Info · NorthGate Constructors report on: Progress, Lane Closures, Traffic Flow, etc. Construction began in February 2010 on the $1.6 billion project which is ex-pected to be completed in 2014. Affected roadways are Highways 114, 121, 26, 2499, 635 and surrounding thoroughfares.
So far, 2010 looks great compared to 2009 in home sales across the country. But even if we end up at virtually the same rate of total housing sales for all of 2010 that was booked for 2009, that will be about 5.5 million total units. Call it $1.2 trillion dollars of home sales. A good estimate of gross commissions indicates $35-40 billion of commissions. (Excerpt From Real Trends, July 2010)
We are reminded that there are homes selling, that there is business happening in the real estate industry!
If you are a home buyer or a home seller, make sure your agent is currently successful – that they know how to navigate today’s market successfully. With continual changes in mortgage requirements, HOA policies, closing times, lease values, etc. – it has never been more important for you to work with a true professional who makes it their business to stay current, educated and on top of their industry.
As an agent, make sure you are being provided with great current information on changes in your industry, conditions in your area….and be sure you are receiving great coaching, direction, inspiration and motivation.
$1.2 trillion dollars of home sales in 2010 and $35 – $40 billion of commissions! You Can Make It Happen!