If You Don t Buy A House Now, You re Stupid Or Broke. That s What Business Week Says.

A rather bold headline, but it got your attention, huh?

Marc Roth writes in an article for BusinessWeek that there’s a single major factor that should entice anyone to buy a home right now – historically low interest rates.

He goes on to say that cyclical trends indicate the rate will soon rise – so now is the time to act.

But why all the fuss? Does a quarter point increase in the interest rate really have much of an effect? Check this out:

“Every quarter-point change in interest rates is equivalent to approximately $6,000 for every $100,000 borrowed over the course of a 30-year fixed. While different in each region, for the sake of simplicity, let’s assume that the average person is putting $40,000 down and borrowing $200,000 to pay the price of a typical home nationwide. Thus, over the course of the life of the loan, each quarter-point move up in interest rates will cost that buyer $12,000.”

You can find the full article from BusinessWeek here.

Want to learn more about interest rates specific to DFW?

Contact Home Team Mortgage Company, a 13-year-old mortgage lender affiliated with Ebby Halliday that processes, underwrites, closes and funds all their loans in house – a control that gives them a strategic advantage in today’s mortgage lending market.

Call them today to answer your questions or get prequalified at 972-980-6653 – or click here.

Dave Perry-Miller Listing To Appear on ABC TV Series Deep End

General rule of thumb: if there’s something going on, DallasDirt blogger Candy Evans usually knows all the details.

So it’s no surprise that she reported yesterday that camera crews had descended on 3816 Turtle Creek Drive, listed by Gianna Cerullo of Dave Perry-Miller & Associates. The footage will be used in the upcoming ABC series, Deep End, starring Billy Zane. Filming in North Texas has been ongoing for the past few months, causing many celebrity sightings – here’s one example from the AT&T Performing Arts Center Grand Opening in October.

Interesting note: if you know anything about this home, you know there’s a pool (yes, a pool – see below) in the entry hall. But, in the photo above from yesterday’s filming, no pool.

Find out how that was accomplished, plus all the other details from Candy at her DallasDirt blog here.

DFW Housing Market Sees Big Jump. Has Christmas Come Early?

You can’t miss the headline on the front page of today’s Dallas Morning News: “Housing Market Sees Big Jump”.

It’s almost like Christmas came early and Steve Brown is playing Santa Claus! The subheadlines on the front page alone will put anyone in the holiday spirit:

“Largest November Home Sales Gains”

“Pre-Owned Home Sales Soar”

“2nd Straight Monthly Increase Sparks Optimism”

It goes on to say that pre-owned home sales rose 31 percent last month from a year ago, which was one of the biggest increases on record and the second consecutive month of rising sales. In addition, median home sale prices were up 5 percent, the largest gain in more than two years and local real estate agents sold 5,500 pre-owned homes in November, according to the North Texas Residential Information Systems and the Real Estate Center at Texas A&M University.

While some credit of this good news is given to the extended and expanded first-time homebuyer tax credit, it’s worth noting that many neighborhoods not typically affected by the credit have also seen big increases: Highland Park & University Park pre-owned home sales rose 81 percent in November from a year ago and sales in close-in North Dallas neighborhoods were up 60 percent.

To read the entire article by Steve Brown, click here.

Tis The Season

The holiday season has officially begun and this weekend, the Ebby Offices were busy bringing the Christmas spirit to their respective communities in various ways:

The Ebby Lakewood Office held their annual “Photos With Santa” on Saturday and almost 100 kids were able to hand deliver their Christmas Wish Lists. Of course, Santa needs a little help coordinating an event like this, which was delivered by the Lakewood Associates pictured above. See more photos here.

Also on Saturday, the Ebby Firewheel/190 and Richardson offices served as a corporate sponsor of the 38th Annual Richardson Christmas Parade, themed “Christmas-Texas Style”. You couldn’t miss this festive group in their bright green Ebby sweatshirts walking right in front of Santa. See more photos from Saturday’s parade here.

And if you missed the parade, Malinda Howell, manager of the Ebby Firewheel & Richardson offices suggests bringing the kids to Santa’s Village in Richardson. For more details and a complete schedule, click here.


DFW Home Prices Nudge Downward, Ebby Listing Featured

The front page of the Business Section of today’s Dallas Morning News features some great news – DFW home prices have held almost steady in the latest Standard & Poor’s/Case-Shiller Home Price Index, falling only 1.2 percent from one year ago. Nationwide, prices fell 9.4 percent.

The featured photo (above) is of the home at 3016 Milton Avenue in University Park, listed by Cindy O’Gorman of The O’Gorman Group.

To read the full article by Steve Brown, click here.

Ebby Companies Welcome 28 New Associates in October

Comprised of three brands and more than 1,600 Sales Associates and staff in 30 offices that serve more than 12,000 square miles in North Texas, The Ebby Halliday Companies continue to grow. We are pleased to welcome the following new Associates in October:

Linda Ward Ambrose Douglas

George Bryant Flower Mound/Lewisville

Wendy Burr Gaule Ellen Terry – Park Cities

Kim Burrough Sherman

Rebecca Castonguay Rockwall

Bobbie Collier Campbell/Coit

Alvin Cooper Douglas

Melody Doll Warren Irving/Las Colinas

Kaylon Ethridge Douglas

Denise Fitzgerald McKinney

Pat Halback Frisco

Lori Hoyt Preston Keller

Steve Hustoles Plano

Nina Knell Sache Dave Perry-Miller – Highland Park

Jolene Landis Rockwall

Barbara Martin Preston Plano Parkway

Dennis McBride Flower Mound/Lewisville

Craig McClain McKinney

Teresa Neumann Frisco

Lee Osteguin Allen

Roy Palvadeau Preston Plano Parkway

Angela Porow Tri-Counties

Amy Rakoczy Southlake

Melanie Reneau Frisco

Cindy Singleton Sherman

Cathy Sullivan Whitesboro

Debrah West Frisco

Jauana Williams Flower Mound/Lewisville

If you would like to learn more about a career with The Ebby Halliday Companies, contact Debbie Watson, Director of Career Development, at 972-980-6610 or debbiewatson@ebby.com.

North Texas Pre-Owned Home Sales Climb 11%. Mary Frances Burleson Quoted.

The front page of today’s Dallas Morning News states that pre-owned home sales in North Texas were up 11% in October from a year ago – that’s the first year-over-year gain since September 2008 and one of the best signs yet that the local housing market has turned the corner!

The article cites the $8,000 first time homebuyer tax credit as one of the reasons for the increase and with the recent extension of the credit and the addition of a $6,500 credit for buyers who have lived in their current home for at least 5 years, the Spring 2010 market is already looking bright.

Mary Frances Burleson, president & CEO of The Ebby Halliday Companies is quoted at the end of the article saying:

“Every time a house sells, it adds to our economy. People buy furniture. They pay the moving company and the title company – it brings a lot of dollars to many businesses. Every time we come out of a real estate downturn, housing leads the way.”

To read the full article by Steve Brown, click here.

Signed, Sealed, Delivered.

It’s official. The first time homebuyer tax credit has been extended – President Obama has now signed the bill into law!

First time homebuyers are eligible for the $8,000 tax credit if they sign a contract by April 30 and close by June 30. In addition, this new bill extends the credit beyond first time buyers. Those who are buying a new home and have lived in their current home at least 5 years are eligible for up to a $6,500 tax credit.

To see all the fine print about eligibility, restrictions, etc, click here.

Learn more about today’s signing from CNN.com here.

House Approves $8,000 Tax Credit Extension. President Expected To Sign Bill Into Law Tomorrow.

Today, The House approved the measure to extend the $8,000 first-time homebuyer tax credit by a 403-12 vote. President Obama is expected to sign the bill into law tomorrow morning.

This legislation will extend the tax credit to contracts signed by April 30 and closed by June 30. In addition, it also creates a $6,500 credit for those who buy a home after living in their current house for at least five years.

You can learn more details at CNN.com here. And find specifics on the extenstion and addition to the tax credit bill from the National Association of Realtors’ Government Affairs Division here.