First-rate agents understand that it is impossible to predict the market’s absolute bottom, and also that once that point has become perfectly clear, all will have missed it.  

Because buyers are increasingly focused on value, the panel emphasized the importance of viewing real estate not as a venue to make money, but rather as a service to help buyers find high-quality homes and sound real estate investments.

Click to learn more about 9362 Hollow Way Rd.

Dallas-Fort Worth has risen to the top as a hot spot for corporate facilities. Site Selection magazine recently ranked DFW the third-best market in 2009, noting the 135 companies that relocated or expanded their facilities in the Metroplex. Closely trailing New York and Chicago, DFW now houses the corporate facilities of Advanced H2O, Alcon, Cisco, Coaire Corp., Kohler and Q-Edge.

In other positive news, Dallas also received the bronze medal in Forbes’ list of “Cities Where the Recession is Easing.”  Forbes attributes Dallas’ success to its thriving energy and technology industries, markedly affordable housing, and relatively mild housing bubble burst. 

For further details, visit dallas.bizjournals.com and forbes.com. 

Q.  Is now a good time to buy?

 A.  This is the single best time to buy within the last 25 years.  As the extended tax credit comes to a close this April, the government will not be in the business of keeping rates down. 

Q. Should I wait for real estate prices to fall even lower before buying?

 A.  No.  Let’s say prices go down another 10 percent, but interest rates are up 1 percent – your cost is the same. Always look beyond price and ask, what will it cost you?

For more information, see www.briggsfreeman.com

In two separate hearings, Bernanke signaled the Fed’s intentions to keep rates low. In testimony before the Senate Banking Committee today, he said the weak economy justified the low interest rates. He made similar comments yesterday in testimony to the House Financial Services Committee.

Earlier this month, the Fed raised the rate it charges banks for short-term loans. Even though that increase had been expected, there were concerns that the central bank might increase other rates as well.

“Even though nothing he said was particularly new, it was just enough to calm the ruffled feathers that were out there,” Jim McDonald, chief investment strategist at Northern Trust in Chicago told the Associated Press.

Meanwhile, other parts of the country are not faring nearly as well. Las Vegas saw a drop of more than 20 percent in home prices and Tampa also had a double-digit decline of 11 percent. Overall, prices of pre-owned single-family homes were down 3.1 percent in the 20 metropolitan areas that cities that the index tracks.

This winsome Tudor cottage at 518 Blair Boulevard is one of several eye-catching properties Briggs Freeman agents are holding open today in east Dallas.

Whether biking around White Rock Lake, dining on Henderson, or enjoying new arts district thrills downtown, homeowners in east Dallas can do it all conveniently. A creek-side Tudor, a charming cottage, and an urban condo are among the wonderful homes on tour next Sunday, February 28.

• 6215 Vickery Boulevard: Custom, four-bedroom Tudor. Tessa Mosteller. $729,900.  Open 2 to 4 p.m.
• 6871 Chantilly: Creek-side, four-bedroom Tudor.  Susan Matusewicz. $715,000. Open 1 to 3.
• 6319 Crestmont: Designer-owned three-bedroom. Ginger Nobles, Susan Baldwin. $399,000. Open 2 to 4.
• 6367 McCommas: Two-bedroom, M-Street original. Carole Rhodes. $298,800. Open 2-4.
• 518 Blair: Two-bedroom Tudor cottage.  Lee and Ellen Lewis.  $279,000.  Open 3:30 to 5.
• 6044 Velasco: Great corner building site in Belmont Conservation District.  Keith Newman. $177,500.  Drive by and walk the lot. 
• 2502 Live Oak #210: Sleek urban loft condo. Juli Waggoner. $125,900. Open 2 to 4.
• 6318 Richmond Avenue #1201: One-bedroom condo in New Orleanean, gated complex.  Ann Henry. $110,000. Open 3 to 5.

For a complete list, visit www.briggsfreeman.com/eastdallastour.

Briggs Freeman CEO Robbie Briggs at the Winspear Opera House, site of the Brinker International Forum, which Briggs Freeman sponsors, gives practical advice about choosing the best Realtor®.

Whether buying or selling, choosing the right real estate agent has never been more critical, says Robbie Briggs, CEO of Briggs Freeman.  He offers tips below that succeed:

● Get on the Internet and find a company that is well represented in your current or future area. 

●  Go on their Web site and read bios of all the agents, focusing on those with listings in your dollar amount, style and location.

● Check with friends in that area. Ask, am I on the right track? 

● Interview prospective agents. If buying, take each to coffee. If selling, invite them to your home.  What kind of marketing plan do they offer?

● See if they provide former clients as referrals.

● Don’t pick “your sister’s best friend who needs the money” – pick a professional. You don’t pick a doctor because of charity; you pick him for his knowledge and expertise. Do the same with the important purchase or sale of one of your greatest assets. 

 For buyers:

● If you are a buyer in Texas, it is recommended that you sign a buyer’s representative contract.  You might want to go out once or twice first and see if your prospective agent is listening to you and meeting your requirements.  If so, then he or she will work harder for you if you sign an agreement. 

For sellers:

 ●  One of the main decisions for sellers is the commission rate. If you get a top-notch agent with excellent knowledge and a fantastic marketing plan, then he or she should be well compensated. 

People often contact me or Charles Freeman, and we are happy to help you choose.  Call me at 972-733-5061 or Charles at 972-733-9216.

Photo courtesy of Concrete Forms via Flickr

Construction on new houses rose faster than expected in January and reached a six-month high as U.S. builders started construction on 591,000 units. Last month’s surge helped solidify a year-long upward trend in new-home construction. U.S. housing starts have increased more than 21 percent in the last 12 months, the largest increase since April 2004.  Analysts said the surge in new construction is welcome news for the housing market. Here’s a sampling of what they had to say:

Aaron Smith, senior economist at Moody’s Economy: “We’re in a slow and steady progress phase of the housing recovery. The trend will be upward, but it’s going to be a bumpy path higher.” (Source: Bloomberg)

 Pat Newport, economist with HIS Global Insight: “The housing starts numbers are much more important than just about any other statistic, because when you build a $400,000 home, that $400,000 goes into GDP. So it’s good we’re seeing an improvement in housing starts. (Source: NPR)

Mike Larson, an analyst with Weiss Research: The housing market continues to show signs of stabilization. Indeed, builder optimism, sales, and starts are all flattening out after a plunge that reminds me of the ski slopes at the Vancouver Olympics.” (Source: Wall Street Journal)

Bob Jones, chairman of National Association of Home Builders; “Builders are starting to see the positive impacts of home buyer tax credits and other favorable buying conditions in terms of consumer demand, and are cautiously increasing production to meet that demand.” (Source: NAHB)

David Crowe,  chief economist for National Association of Home Builders: “As our latest home builder surveys have indicated, today’s excellent home buying conditions – including the availability of tax credits for first-time and repeat buyers, very favorable mortgage rates and stabilizing home values – are helping drive potential buyers back to the market. A continuing shortfall in available credit for building projects is still producing a drag on new construction and slowing the progress of recovery in housing and the overall economy.” (Source: NAHB)

 What kinds of features are older buyers looking for in a home? Three-quarters of them would like to live in the suburbs. They also want modest-size homes. “The 55-plus buyers are not interested in growing their house size,” David Crowe, the builders association economist told the Dallas Morning News . “They are asking for about a 1,900-square-foot home. They also are looking to keep costs low. “When we asked the consumer, ‘What are you willing to pay?’ they said $190,000,” Crowe said. Pulte is one of several home builders capitalizing on the trend locally with its Del Webb Frisco Lakes Community.