Hopefully 2009 is off to a great start for you and your family! The Texas winter weather is always interesting, but wow…this year has started with notable extremes! Giving a single forecast for the real estate market on a national level is just as pointless as only giving one forecast for the weather across the entire country. As it is with the weather, most aspects of the real estate market vary greatly, depending on where you are located.
If you’re considering buying a home in the North Dallas area over the next couple of years, your timing could be much better by acting immediately rather than waiting for later. While North Texas home prices did not experience the drop other parts of the country did, local homes prices are probably very close to as low as they will be—possibly ever. Some price ranges, along with some new construction spec homes, have experienced significant price drops. Generally speaking, first time buyer price ranges (normally $250,000 and under) have been the most stable and have even shown slight increases. The higher price ranges ($350,000 and over) is where most of the price slashing has occurred. Therefore, if you have something to sell and plan on moving up in value, acting now could be very advantageous.
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