Dallas Real Estate Showing Signs of Recovery

Signs of Recovery – The Dallas real estate market is finally showing signs of recovery.  Sales have sharply increased on both new construction and pre owned properties throughout Dallas, Collin, Denton, and Rockwall County.  Realtors are reporting buyers are starting to jump of the fence and take advantage of great interest rates and unbelievable deals on homes in Dallas.  Another factor contributing to the sudden increase in home sales and buyer confidence is the expected expiration of the home buyer tax credit at the end of November.  Many 1st time home buyers are running to the table to secure their $8,000 tax credit in anticipation the program will not return.

Real Estate Appraisals – Agents around the country have reported issues with home appraisals in the past 12-24 months.  Many residential sales transactions have fallen apart due to low appraisal values that are below the contract sales price and often below the previous sales amount the current owner paid for the property.  This has created problems not only for the buyer and seller, but for the entire real estate industry and has led to a decrease in market value, sales, and confidence in the recent past.  Dallas Real Estate is now breaking through these barriers and home appraisals are showing signs of stabilization and growth.  Many agents have reported that homes in Dallas are appraising for or above the finalized contract price.  This is great news for local and national buyers, sellers, and Realtors.  The Fort Worth Real Estate market is also moving forward with positive statistics on homes sales indicating a move away from the recent recession.  

The road to recovery will not be without obstacles to overcome.  Unemployment continues to effect all areas of business and contribute toward the high foreclosure rates throughout local markets.