Litaker Realty Inc. - Home Buyer & Seller Real Estate Services

June Pending Homes are on the Rise!

2011-08-11T10:13:00.000-07:00

Visit this link to get the Stats: Sales Stats in June

Visit our web site: http://www.litakerrealty.com

Housing Market is Recoving, especially in Texas!

2011-06-17T11:28:00.000-07:00

There are signs that our housing market is recovering! Here is a great article.

http://www.realtor.org/RMODaily.nsf/pages/News2011061601?OpenDocument

Top Real Estate Economist say NO Double Dip!

2011-05-29T13:59:00.000-07:00

Many people have mentioned that we may have a double dip economic decline. Most top economist say this is false and that we are not at the bottom yet.
Read:
http://agentgenius.com/real-estate-mortgage-economy/top-real-estate-economist-says-no-double-dip-we-havent-even-hit-bottom/?sms_ss=linkedin&at_xt=4de2772800caab34%2C0

Foreclosure Activity is down!

2011-05-22T11:58:00.000-07:00

Good new for Real Estate and the Economy!

http://www.trulia.com/blog/manu_1/2011/05/foreclosure_activity_at_40-month_low_8

Litaker Realty Inc. QR Code

2011-05-15T13:16:00.000-07:00

This is the Litaker Realty Inc. QR Code.

1405 Preston Rd. in Keller Texas

2011-05-10T11:15:00.000-07:00

1405 Preston Rd. in Keller TX
This is a wonderful estate home which is also the builders personal home. Built in 2009 on nearly an acre this home features over 5000 sq ft of living space and a pool. This home is offered at: $1,175,000.

Keller Texas Luxury Real Estate & Homes For Sale

Luxury Estate at 6108 L D Lockett in Colleyville Texas

2011-05-10T11:07:00.000-07:00

One of my property picks:
6108 LD Lockett in Colleyville, TX.
Notice the bridge that goes over the pond to the house, this house has just about it all. Fantastic curb appeal and a pool. Built in 2007 this home has over 12000 sq ft of living and over 4 acres of land. It is offered for $7,400,000.

Colleyville Texas Real Estate & Homes For Sale | Colleyville TX Realtor

Luxury Estate at 5102 Montclair Dr. in Colleyville Texas

2011-05-10T10:59:00.000-07:00

One of my property picks:
5102 Montclair Dr. in Colleyville TX
This is one grand home, built in 2002 it provides over 20,000 sq ft of living, several outside living spaces and gorgeous pool and has a lot of attention to details. This home is offer at: $8,950,000

Colleyville Texas Luxury Real Estate & Custom Homes For Sale

Luxury Estate at 670 S Peytonville in Southlake Texas

2011-05-10T10:50:00.000-07:00

One of my property picks:
670 S Peytonville, Southlake TX
This home features over 12000 sq ft of living space, a pool and a creek with bridge. The open land behind this home is gorgeous. Home was built in 2003 and is offer for: $6,500,000.

Southlake Texas Real Estate & Homes For Sale

2208 Vaquero Estates Boulevard in Vaquero, Westlake Texas

2011-05-10T10:43:00.000-07:00

One of my property picks:
2208 Vaquero Estates Blvd. is located in gated guarded Vaquero. This home features over 7900 sq ft of living space and a pool. The home is located on over 1.5 acres, one of the large lots in Vaquero. Home was built in 2005 and is offer for: $3,900,000

Westlake Texas Real Estate & Homes For Sale | Westlake TX Realtor

1406 Post Oak Place - Vaquero, Westlake

2011-05-10T10:35:00.000-07:00

One of my property picks:
1406 Post Oak Place is located in gated guarded Vaquero in Westlake. It is currently listed at $3,500,000. This home provides over 8500 sq ft of living space and a pool. Home was built in 2002.

Westlake Texas Real Estate & Homes For Sale | Vaquero & Glenwyck Farms Realtor

Texas Real Estate Market, Why there is stability in the Texas housing market.

2011-05-09T12:17:00.000-07:00

This is a great article: It helps explain why Real Estate in Texas is not in nearly as bad shape and the market outperforms the Nation as a whole. Texas has higher job growth and lower cost of living than most states. Texas is probably the best mix of the two above rates... So if a buyer is on the sidelines in Texas, it seems they shouldn't be.

If I buy a house today, will it be cheaper tomorrow? In other words, if I buy now, what is the likelihood my property’s value will decline, and I won’t be able to sell it for what I paid for it? Put yet another way, have we hit bottom on home prices?

Regardless of how it’s worded, the question is the same. Real estate agents hear it all the time. So do researchers here at the Real Estate Center. This may be the biggest single question facing the U.S. real estate industry. It certainly is one reason many homebuyers are waiting on the sideline.

There is no single answer. Answers vary from city to city, state to state, property to property and household to household.

Mark Dotzour, Ph.D., the Center’s chief economist and director of research, provides some useful commentary on the big question.

“First, we have always said that as long as the inventory of unsold homes hovers around 6.5 months, that's a balanced market, and prices increase. We have subsequently observed that as inventory levels increase toward eight or nine months, prices still hold firm. Only when inventory levels get to 10 or 12 months do prices start to fall.

“Second, the reported median sales prices are not truly reflecting the actual value trends in the local market. As the percentage of ‘distressed sales’ increases, the reported median sales price falls.

“This doesn't mean that home prices are falling; it just means the quality of homes in the sample is falling.

“For example, if three homes sell in one month, and all three are ‘typical’ sellers at $170,000, then the median price is $170,000. If foreclosures increase in the next month and three homes sell (but two are foreclosed sales at $140,000 and $145,000 and one is typical at $170,000), then the median price falls to $145,000. The reported median price has fallen $25,000, but the ‘typical’ house is still selling for $170,000.

“Hence the reported median price decline reflects a change in the quality of two bad apples in the basket, not a true reflection on the price of the good apples.

“Third, the quality of distressed properties sold in the market is often very poor – worn or stained carpet, stripped copper wiring, and other defects. Hence, when a lot of distressed properties sell, it means that the overall quality of the basket of apples has deteriorated. It doesn't mean the good apples in the basket have declined, it just means that the basket still has some good apples, but also includes a growing proportion of lesser quality apples.”

Whether real estate is improving or still deteriorating often depends on those same three factors that dictate which property to buy in the first place: location, location, location. In general, if you are buying in Texas, your home’s value is less likely to decline.

In 2010, Center economists explained why the Texas housing market fared far better than other states during the recent downturn. They also suggested why the state’s economy is expected to continue to do better than the rest of the nation.

“The risk of a home price decline in Texas is low,” says Ali Anari, Ph.D., a Center research economist. “Texas’ lower-than-national-average housing cost is one reason for the state’s higher-than-national-average growth rate,” says Anari. “When Texans are able to spend more on non-housing goods and services, the state’s economy is strengthened and more people are attracted.”

“These results illustrate one of the key reasons the Texas economy outperforms the United States in terms of job growth almost every year,” says Dotzour. “The fact that Texans pay less of their income for housing means they have more to spend on other things that add to the overall quality of life. Texas offers a lower cost of living than many places in the United States.

“This allows Texas employers to be able to attract workers at a reasonable wage rate that allows them to compete successfully in the global economy.”

“The larger the share of housing expenditures in the consumer’s budget, the more home prices in their region have fallen since 2007,” Anari says.

Anari points out that home-price changes affect expenditures and wealth. Lower housing costs allow consumers to spend more on other goods and services, leading to higher regional economic growth, increased growth rates, a larger labor force, and more demand for goods and services.

Home prices are used in the formula by Research Economist Jim Gaines, Ph.D., to calculate the Texas Housing Affordability Index (THAI) for Texas.

“Housing affordability may be one of the most significant growth stimulants for Texas during the first half of this century,” says Gaines.

The THAI is the ratio of the median family income to the income required to buy the median-priced house using standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-year loan covering 80% of the cost of the home. A THAI of 1.00 indicates the median family income is exactly equal to the required income to qualify for the standard loan to purchase the median-priced house.

Economists are fond of saying, “The trend is your friend.” If you want to know what current housing trends are, visit the Real Estate Center Web site. There you will find data from Texas MLSs, including median and average prices of existing homes, month’s inventory, and housing affordability. Depending on the area, the numbers vary greatly.

Would-be homebuyers have reason to be cautious. The Dallas Federal Reserve’s December 2010 EconomicLetter says there is no pain-free path to a healthy housing market. National home prices peaked in 2006 and have fallen 33% since. The authors say, “… home prices still must fall 23% if they are to revert to their long-term mean.”

But they are speaking about the nation in general. Luckily, when you see that “Welcome to Texas” highway sign, you should feel more confident in any home purchase you make down the road.

Source: http://www.texasrealestate.com/web/2/22/more/032211.cfm

Visit us for Real Estate & Homes For Sale in Southlake Texas

Freddie Mac turns a Profit in the first Quarter

2011-05-07T16:05:00.000-07:00

No need for any more tax payer money here. Unlike Fannie Mae, Freddie Mac turned a profit!

http://www.dsnews.com/articles/index/freddie-mac-turns-676m-profit-in-q1-needs-no-taxpayer-funding-2011-05-04

Fannie Mae First Quarter Loss

2011-05-07T16:01:00.000-07:00

Better than last year but still Fannie Mae is taking some hefty losses.

http://www.dsnews.com/articles/fannie-mae-loses-87b-in-first-quarter-2011-05-06

Unemployment Rate Rises

2011-05-06T10:45:00.000-07:00

Consider this a good thing. The article says that the rise in unemployment is cause from a large number of people who gave up on finding a new job are back trying to find one!

http://www.dsnews.com/articles/nations-unemployment-rate-rises-to-90-2011-05-06

Facebook Founder Purchases a New Home

2011-05-06T10:42:00.000-07:00

http://www.inman.com/news/2011/05/5/facebook-founder-likes-homeownership

Southlake Texas Real Estate and Homes For Sale

2011-05-04T13:44:00.000-07:00

Visit our brokerage web site: http://www.litakerrealty.com/

Keller TX Custom Estate Home in Manors At Waterford

2011-05-04T13:41:00.000-07:00

$1,100,000

Southlake Texas Town Square | Garden District is approved!

2011-05-04T10:02:00.000-07:00

Read this article!
http://www.star-telegram.com/2011/05/04/3048678/140-unit-residential-development.html

Number of Foreclosures in DFW are dropping!

2011-05-04T09:59:00.000-07:00

Read this article
http://www.secondshelters.com/2011/04/15/good-dallas-real-estate-news-dallas-fort-worth-residential-foreclosure-postings-drop-to-40-month-low/

Proposed Garden District in Southlake Town Square

2011-05-01T15:18:00.000-07:00

http://www.star-telegram.com/2011/04/12/2994924/town-square-housing-plans-shrink.html

The new section of the brownstones is to consist of 3 story lofts where each floor has its own resident. The third floor units may have roof top access. This could be a great addition to Southlake and add to the downtown appeal of Town Square.

Luxury Custom Home In La Mirada of Southlake

2011-05-01T12:55:00.000-07:00

This is newest built home in La Mirada of Southlake. Over 14,000 sq ft with a guest house currently going in that is nearly 3,000 sq ft. The pool will have a waterfall with swim in guest house.

Luxury Custom Estate Home on Dove in Southlake Texas

2011-05-01T12:50:00.000-07:00

This is currently the largest home in Southlake Texas. It features a bowling alley, billard room, wine room, prayer room, media room, game room, study, 2 story master closet, panic room, 10 car garage, gym, indoor and outdoor bastetball court. There are 2 pools and a private spa off the master. Large pond and 7 acres of land. Built by Broadstone Custom Homes.

Shady Oaks Luxury Estate Home in Southlake Texas

2011-05-01T12:41:00.000-07:00

This newly built home was awesome. Went to the move in party and it really was impressive.

Timarron Country Club & Golf Course | Real Estate & Homes For Sale

2011-05-01T11:39:00.000-07:00

If you are searching for a great family neighborhood in Southlake TX that offers it all, you found it in Timarron. Timarron is located in a great area of Southlake Texas only minutes to Southlake Town Square and is home to 1,550 residences. Access to restaurants and shopping is just the beginning of the story. Timarron is home to the Timarron Country Club golf course. The community offers community pools, walking trails, tennis courts, volleyball courts, gym facilities and much more. Award winning Southlake Carroll Schools and a wide price range of homes from the $400K’s-$2M+ make this a very desirable location to relocate in North Texas.