VIP Realty Platinum 2011 Outlook – Dallas Real Estate Market
In a time of cautiousness and pessimism Ridge has an excited optimism for 2011. When asked what was the basis of his optimism he responded “people are coming to recognize that home ownership is an investment in themselves and in their future.” Mortgage rates are at historical lows, home affordability is at all time highs and there is a lot of inventory to choose from with many great Dallas home values to be found.
Dallas, TX, December 16, 2010 --(PR.com)-- Real estate broker, Harry Ridge with VIP Realty Platinum, gives his outlook for the 2011 Dallas real estate market. Ridge, in his 25th year of business knows real estate like few others. He has experienced and succeeded in all market environments from the pre-housing boom to the post housing bust. In a time of cautiousness and pessimism Ridge has an excited optimism for 2011. When asked what was the basis of his optimism he responded, “People are coming to recognize that home ownership is an investment in themselves and in their future. Mortgage rates are at historical lows, home affordability is at all time highs and there is a lot of inventory to choose from with many great Dallas home values to be found."
When asked what do you see as the biggest challenge for the DFW real estate (Dallas/Fort Worth Metroplex) market for 2011 Ridge says, “The biggest challenge for the real estate market as a whole and particularly for home buyers is the ever tightening credit markets and the inability for home buyers to obtain mortgage financing. The Obama administration has let the nation and its taxpayers down. Our tax money and the tax money of future generations went to bail out the banks from years of overzealous lending practices with the “understanding” that these same banks would loosen credit standards and make mortgage financing more attainable for home buyers. Raising the minimum credit score for FHA insured loans from 580 to 620 now to 640 clearly is not making mortgage financing more obtainable for home buyers. Furthermore, eliminating mortgage financing for most of the self employed isn’t going in the right direction either. It is estimated that there are more than 30 million people with a credit score under 640 and this number is increasing daily. This is a large segment of the population that will be excluded from the home buying market."
When asked what should we expect in the Dallas real estate market in 2011 Ridge says “I expect a steady increase in real estate activity from mid-February through the end of July, first from first time buyers and then into the move up markets. After that activity will level off and remain steady until the approach or the 2011 holiday season when activity will begin to wane. Also strong in the DFW Metroplex area is the relocation market as more and more people relocate to the DFW Metroplex from all other areas of the country. There are 300 people per day moving into the DFW Metroplex area. More interestingly, 300 people have been moving into the DFW Metroplex every day for the last 30 years". Ridge goes on to say “The DFW Metroplex truly is the land of opportunity those who get in front of this tidal wave of growth will do very well for themselves.” Take your time, do your due diligence and get pre-qualified for a mortgage, step up and take advantage of this time in history to own a home of your very own.
###
When asked what do you see as the biggest challenge for the DFW real estate (Dallas/Fort Worth Metroplex) market for 2011 Ridge says, “The biggest challenge for the real estate market as a whole and particularly for home buyers is the ever tightening credit markets and the inability for home buyers to obtain mortgage financing. The Obama administration has let the nation and its taxpayers down. Our tax money and the tax money of future generations went to bail out the banks from years of overzealous lending practices with the “understanding” that these same banks would loosen credit standards and make mortgage financing more attainable for home buyers. Raising the minimum credit score for FHA insured loans from 580 to 620 now to 640 clearly is not making mortgage financing more obtainable for home buyers. Furthermore, eliminating mortgage financing for most of the self employed isn’t going in the right direction either. It is estimated that there are more than 30 million people with a credit score under 640 and this number is increasing daily. This is a large segment of the population that will be excluded from the home buying market."
When asked what should we expect in the Dallas real estate market in 2011 Ridge says “I expect a steady increase in real estate activity from mid-February through the end of July, first from first time buyers and then into the move up markets. After that activity will level off and remain steady until the approach or the 2011 holiday season when activity will begin to wane. Also strong in the DFW Metroplex area is the relocation market as more and more people relocate to the DFW Metroplex from all other areas of the country. There are 300 people per day moving into the DFW Metroplex area. More interestingly, 300 people have been moving into the DFW Metroplex every day for the last 30 years". Ridge goes on to say “The DFW Metroplex truly is the land of opportunity those who get in front of this tidal wave of growth will do very well for themselves.” Take your time, do your due diligence and get pre-qualified for a mortgage, step up and take advantage of this time in history to own a home of your very own.
###
Contact
VIP Realty Platinym
Lexi Davis
972-665-9767
http://www.viprealtyplatinum.com/
Lexi Davis
972-665-9767
http://www.viprealtyplatinum.com/
Contact
Categories