Real Estate Information Archive

More Americans Believe Economy Headed in Right Direction

Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy. According to results from Fannie Mae’s November 2012 National Housing Survey, such improvement bodes especially well for continued strengthening in the housing sector, which in turn is likely to support overall economic growth.

“Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year highs,” says Doug Duncan, senior vice president and chief economist of Fannie Mae. “On the housing front, attitudes about the current selling environment continue to improve, with a significant increase in those saying it would be a good time to sell. This growing confidence in a housing recovery, in addition to other factors, may reinforce growing consumer optimism regarding the improving direction of the general economy. Those indicating that the economy is on the right track has risen to 44 percent while those saying it’s on the wrong track has fallen to 50 percent, the smallest gap since the survey’s inception.”

The November survey results show significant movement across many of the indicators. The share of respondents who say now is a good time to sell a home jumped 5 percentage points in November to 23 percent – the highest level since the survey began in June 2010 – narrowing the gap with those who say it is a good time to buy. The percentage of respondents who expect mortgage rates to go up increased by 4 percentage points to 41 percent. Those expecting home prices to go down within the next year also rose by 4 percentage points to 14 percent over last month, a rebound from the survey’s record low in the prior month, while the share who believe home prices will go up in the next 12 months edged up to 37 percent, tying the survey high. Of note, 51 percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception (this survey finding is in addition to the 11 National Housing Survey indictors).

When asked about the economy, those who say it is on the wrong track dipped 6 percentage points since October and a total of 25 percentage points in the past year. Respondents expressed some improvement in the status of their current finances; however, due potentially to the looming fiscal cliff, the share who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent – the highest level since December 2011.

Survey Highlights

Homeownership and Renting

 • Average home price change expectation held steady at 1.7 percent.

 • Fourteen percent of those surveyed say that home prices will go down in the next 12 months, a 4 percentage point increase over last month.

 • The percentage who think mortgage rates will go up continued to rise, increasing 4 percentage points in November to 41 percent.

 • Twenty-three percent of respondents say it is a good time to sell, a 5 percentage point increase over last month, and the highest level since the survey’s inception.

 • The average rental price expectation hit 4 percent in November, a 0.9 percent rise over the past two months.

 • Forty-eight percent of those surveyed say home rental prices will go up in the next 12 months, a slight decrease from last month.

 • The share of respondents who said they would buy if they were going to move held relatively steady at 67 percent.

 • Fifty-one percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception.

The Economy and Household Finances

 • Hitting 50 percent for the first time since the survey’s inception, the percentage who think the economy is on the wrong track has declined by 25 percentage points over the past year, and by 6 percentage points from last month.

 • The percentage who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent, the highest level since December 2011.

 • Meanwhile, 21 percent of respondents say their household income is significantly higher than it was 12 months ago.

 • Household expenses remained stable over the past month, with 56 percent responding that their household expenses stayed the same compared to 12 months ago.

 - RISMedia - http://rismedia.com –

Euless development moves forward with Lennar land purchase.

Lennar Homes has purchased 49 acres of land in Euless with plans for a new 200-home residential community.

The land, designated Riverwalk, is located at the northwest corner of Highway 183 and Highway 360, adjacent to DFW International Airport, and is zoned for single family residential, multi-family and commercial use. The property was part of a larger tract purchased two years ago by investor Stratford Land.

In Riverwalk, Miami-based Lennar will debut a new line of homes that feature higher quality details and amenities in addition to a more upmarket architectural design. The homes will be priced starting in the low $300,000's.

“We are pleased to have the opportunity to capitalize on the improving home buying market in DFW by initiating the residential community in Riverwalk,” said Greg Urech, director of land operations for Lennar. “The homes Lennar plans to build in Riverwalk demonstrate our plan to enhance the value of our brand and become one of the top builders in North Texas.”

Lennar’s acquisition includes approximately 200 home sites in its first phase, with the option to double the number of homes in the near future. Groundbreaking on the first homes is scheduled to begin by summer 2013 with a model home projected to open in the first quarter of 2014.

“Stratford is excited to have Lennar, one of the most recognized builders in the nation for both size and financial strength, building a flagship community in Riverwalk,” said Steve Sanders, Stratford Land’s senior investment manager for Texas. “Lennar’s residential construction plans are beneficial for the city of Euless, providing an appealing selection of home styles for local buyers, and we are proud to have them as Riverwalk’s builder.”

Dallas-based Stratford Land officials say they are also in talks with potential buyers for Riverwalk’s multifamily tracts, which include about 500 units. Stratford expects the commercial aspects of Riverwalk will follow residential as is common in mixed use communities.

“When Stratford acquired the property in 2011, we knew the location was exceptional,” said Sanders. “Lennar’s decision to build at this location affirms our investment, and we are excited to see the residential area of Riverwalk come to life.”

Stratford Land is a private, Dallas-based investment company that has been in business for 25 years. The company has properties in Texas, Arizona, California, Colorado, Tennessee and along the eastern seaboard from Virginia to Florida.

Real estate broker Andrew Prine negotiated Stratford Land’s property sale to Lennar.

Larry & Laurie Wall of The Wall Team would like to send the warmest Christmas wishes to you and your family.

May God shower his choicest blessings on you and your family this Christmas and New Year!

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Laurie Wall with The Wall Team with Re/Max Heritage would like to make 2 announcements and give you an update on the Tarrant County Housing Market.

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If you are considering buying a home, selling a home or both, call the experts that have over 105 years combined knowledge of this area to help you. Drop by our Colleyville office anytime.

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New-Home Building at Highest Level in 3 Years

The home-building industry continues to dig out of its slump as the pace of construction posts big jumps for single-family and multifamily houses. Builders had a level of starts in June not seen since October 2008, the Commerce Department reported Wednesday.

Housing starts in June soared 6.9 percent, reaching a seasonally adjusted annual rate of 760,000 units. Broken down, single-family home construction, which makes up the largest segment of those new housing starts, increased 4.7 percent in June. Multifamily housing starts, considered a volatile segment of the market, jumped 12.8 percent last month.

Housing starts were nearly 24 percent higher in June compared to last year at that time.

“Housing continues to be the one sector of the U.S. economy that is outperforming expectations,” Michael Gapen, an economist at Barclays, told Reuters.

Still, while housing starts posted a big leap in June, new housing permits — a gauge of future building — dropped 3.7 percent in June.

Source: “Housing Starts Are Up, but Building Permits Decline,” Reuters (July 18, 2012) - Daily Real Estate News | Thursday, July 19, 2012

It’s important to keep fresh content on your website at all times.

Jay Young takes new photos of North East Tarrant County’s Top Producer Laurie Wall

Mary Ruth’s YouTube Video was recently Featured under

“Network Videos” in the RE/MAX Texas Newsletter. 

Thank you RE/MAX of Texas!

How Reading Books Will Impact Your Future?

 Laurie Wall of The Wall Team with Re/Max Heritage II says aside from the “Bible”, her favorite book would have to be "The Go Giver". She has just finished reading "Delivering Happiness" which she states is also a great read. Several of her other favorites are "Goals", “Good to Great", “7 Habits of Highly Effective People” and “Love Is A Choice”. These books have helped Laurie & Larry tremendously with their vision for their lives and business. Laurie added that her 2 favorite novels are “Redeeming Love” and “Severe Mercy”. Laurie & Larry both love reading books because it changes their perspective and enlarges their thinking.

Someone once told Laurie many years ago, "Where you will be in your life in the next 5 years will be greatly affected by the people you meet and the books you read”. This has proven true for her life. The books she has chosen to read have shown her new principles and ideas of what is possible. Reading about what other people have done is very inspiring and challenging to her. Laurie adds that Reading keeps your mind growing and expanding. “Whatever you fill your mind with is what you will become”.  

The Residential Real Estate Market is Really Heating Up!

Today is May 8^th and we already have 23 contracts (properties) scheduled to close this month. We have taken 20 new listings this May and most of our properties are receiving multiple offers on them. We listed a House last Friday and by Sunday had 3 offers on it. If you are thinking about listing your house or know of someone that is considering listing please don’t hesitate to call us today 817-427-1200

 Fran Fischer is our Closing Manager and Irene Mochulsky is our Listing Manager on The Wall Team with RE/MAX Heritage.