Home Sweet Texas

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The Houston Chronicle recently printed an article on another of the reasons that Texas has been able to ride out the housing slump so well relative to other areas in the nation. The reason? The difficult lessons that the banks learned from the 1980s. Because of the hard lessons learned in the '80s, the bankers have shown discipline in their lending in the last decade, and it is this discipline that has saved Texas from suffering through many of the problems the rest of the country is struggling with.

The article also points out that the last census shows that Texas gained more people between censuses than there are total inhabitants in half of the United States. Because of this population growth, our state is the place to be for bankers and businesses. Just another reason it is great to be in Texas!

Read the article here.

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Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Reason #543,545,765,231 it is Great to Live in DFW: Low Shadow Inventory Supply

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The Dallas Morning News reported some more positive news about the DFW housing market today. A recent study shows that among major US cities, the DFW area has one of the lowest "shadow" inventories of unsold homes. Shadow inventory homes have been foreclosed on or are in the process of being foreclosed on but are not currently listed for sale.

The CoreLogic study found that while the average shadow inventory among the 50 largest US cities is almost 16 months, DFW's inventory is currently 6.7 months and Texas' statewide shadow inventory is 5.5 months. What wonderful news! Yet another reason we are glad to be in Texas!

Read the article here.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

This Just In: Fewer Dallas-Area Buyers Are Underwater On Their Mortgages!

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The Dallas Morning News reported some positive news about the DFW housing market today. A recent report shows that the number of Dallas-area homeowners who are upside down on their mortgage has decreased from 30% in mid-2009 to under 15% currently. That's a 50% reduction, folks! What wonderful news!

The article also mentions the fact that North Texas median home sales prices have risen about 5% in 2010. The market is clearly beginning to change - things are improving. Now is unequivocally the time to buy, while prices are low. We are seeing positive signs both locally and nationally and before we know it, home prices will be on the rise (if they aren't already!)

Read the article here

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Deep in the Heart of Texas

Yesterday the Fort Worth Star Telegram featured an article that had some great news about our DFW metroplex. In spite of the downturn and recession of the national economy, Dallas-Fort Worth led the nation in population growth for the 12 months that ended July 1, 2009 according to recently released census estimates. People come to where the jobs are and that is in Texas.

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This is great news for our market and is one of the reasons that our property values have held relatively stable and that our inventory supply levels have stayed relatively low. Relocation will continue to lead to stability and growth in the DFW market. We will see job creation which will lead to higher consumption and thus stimulation of our local economy.

Our state unemployment rate is lower than the national rate (8.2% by December compared to 10%), our housing market is more stable, and our economy is very diverse. Texas is most definitely the place to be! With all these people relocating to our state, now is a great time to invest and get the best rate and pricing on a new home, since we know that when demand increases, so does the price!

Click here for a link to the article.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640