Monthly Archives: April, 2009

Texas Economic Review – April 2009

From the Real Estate Center at Texas A&M The national recession is beginning to have a deeper impact on the Texas economy, which lost 113,600 jobs or 1.1 percent of its labor force from March 2008 to March 2009. Over the same period, the U.S. economy lost more than 4.8 million jobs or 3.6 percent [...]

Feb 2009 Case-Shiller (Dallas outperforms yet again…)

Well, outperforms may not be the right term. Is it outperforming when you lose less than everyone else? Lots of data if you want to play with Excel here, or I’ll do my best to summarize. Since January 2000 (the first time the Dallas MSA (metropolitan statistical area – a census region) was included in [...]

First quarter 2009 foreclosure data (with map)

Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 803,489 properties in the first quarter, a 9 percent increase from the previous quarter and an increase of nearly 24 percent from Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter. It seems [...]

Map – check out Q1 2009 area home sales

Dallas – Fort Worth Area Home Sales 1Q 2009 Sales were way, way down across the board in most locations. Not sure if you can pinpoint a reason. Historically low mortgage rates and the first time home buyer tax credit didn’t appear to help. I think the continued belief that we are going to see [...]

How Texas Avoided a Housing Bubble

Did you know that Texas: Banned its mortgage lenders from imposing prepayment penalties Banned balloon repayments Banned negative amortization mortgages Banned loans based only on collateral value without regard to the borrower’s ability to repay the loan Banned lenders from charging for services the borrower didn’t receive Source: Ban Mortgage Prepayment Penalties at the Federal [...]

Mortgage broker followup

Quick follow-up to my mortgage broker post – saw this in the Morning News yesterday In recent months, some of the biggest companies in real estate have decided to stop working with brokers. Chase won’t lend to brokers’ clients anymore. The PMI Group, one of the biggest companies in the mortgage insurance business, flat out [...]

Big Changes Coming to ENERGY STAR

We have recently made the choice to build 100% Energy Star Homes. What does this mean? Well, simply put, to have a certified Energy Star house, you must meet the EPA’s (Environmental Protection Agency) strict guidelines for energy efficiency. Energy Star homes do this through six primary areas: Effective Insulation High-Performance Windows Tight Construction and [...]

Shocker – mortgage brokers aren’t always on your side

This just in – mortgage brokers don’t always have their clients’ best interest at heart. Well, no kidding. According this article NY Times article, “When to Use a Mortgage Broker”, buyers paid about $300 to $400 more in fees than when dealing directly with the banks themselves. Buyers should not believe that mortgage brokers have [...]