Tarrant Market Trends | Northeast Tarrant County | MLS Housing Activity | And Other News
I thought I would share with you some information that was shared with me today at our monthly office sales meeting at RE/MAX Heritage here in Northeast Tarrant County Real Estate.
In Foreclosure News for August 2011
- Nationally, banks are holding approximately 476,000 homes
- Inventory is down slightly, 17% of them are REO listings or Real Estate Owned (Bank Owned properties)
- 1.57 million homeowners are 90 days delinquent or longer on their mortgages
- 1.91 Million homeowners are in the foreclosure process right now.
Loan Limits are due to expire on 30th of September 2011
- FHA $271,051 | Conv $417,000
- Congress must extend current FHA & GSE (Fannie Mae & Freddie Mac) loan limits
- If not, the cost of mortgages could rise significantly, however according to Sandy Shetty @ Benchmark Mortgage, we here in the Dallas/Fort Worth Metroplex would not be affected by this so much as other parts of the country.
- The Current Loan Limit is 125% of Local Median Home Prices, if Congress does not extend, that would drop to 115% .
Here in Northeast Tarrant County we have about a 6 month supply of homes and a really great market.
Here are a few graphs to demonstrate the Housing Activity here in Northeast Tarrant County.
- This Graph demonstrates Monthly Homes Sales over the Last Three Years.
- This Graph represents Home Sales and Average Price.
- This Graph represents Price Distribution
Source: Real Estate Center at Texas A&M University and Local Realtor Boards
Note: The Housing Affordability Index is the ratio of median family income to the income required to qualify for an
80 percent, fixed-rate mortgage to purchase the median-priced home. The MLS Area represents the local reporting
Realtors® association's geographical coverage area.
John Hrisco & Associates: When experience counts, the sign you want, the agent you need. Licensed Texas Real Estate Broker #0480703, with over 13+ years experience buying & selling real estate in the D/FW Metroplex. Integrity, Professionalism, Results & Charity is our Mantra. It is how we go about our lives and our business. We undertake a specialized set of tasks and orchestrate them with uncommon skills. Whether you are buying, selling, or investing in real estate, if you are not doing business with John Hrisco & Associates, you are losing money.
servicing the Dallas/Fort Worth Metroplex: including Northeast Tarrant County, Ft. Worth, Keller, Southlake, Colleyville, Grapevine, Haslet, Trophy Club, Roanoke, Westlake, NRH & Surrounding areas
John Hrisco & Associates
RE/MAX Heritage
4200 Heritage Trace Pkwy., Ste. 100
Ft. Worth/Keller, TX 76248
