Home Buyers Dallas Fort Worth Texas

5 Key Questions Potential Homebuyers Must Answer

1. Would it be cheaper to rent? If you're thinking of scooping up a condo these days, your best bet is taking a gamble on Sin City. Buying is a cheaper choice than renting in nearly three-fourths of the biggest U.S. cities, with foreclosure-flooded Las Vegas being the best place to do so, followed by Detroit; Mesa, Ariz.; Fresno, Calif.; and Arlington, Texas. San Francisco-based online real estate firm Trulia compared the price of buying and renting in the 50 most populated U.S. cities. Price-to-rent ratios were calculated using the median list price compared with the median rent on two-bedroom apartments, condominiums, and townhomes listed on Trulia.com as of July 1. Don't think about taking out a mortgage in New York; Fort Worth, Texas; Omaha, Neb.; Seattle; San Francisco; and Kansas City, Mo., the survey suggests, where inking a lease is the more frugal option. Here's a rundown of cities where it makes the most sense to rent and where it's worthwhile to purchase a home . 2. How long do you plan to live there? If you can purchase for the same or less as renting, it makes sense to buy as long as you don't plan on relocating in the next few years, according to Craig Strent, CEO of Rockville-based Apex Home Loans Inc. Unless you plan to stay in the home for at least a few years, recouping your closing costs may not make buying worthwhile. Lenders have started to rein in their reckless lending habits of recent years, so you must have a strong credit score to get the best interest rates. It might be worth putting off a purchase for a year while you improve your score. (Remember that the Fed has vowed to keep rates low for quite a while, so much steeper rates are not around the corner.) 5. Will the purchase leave you strapped for cash? "Price alone should never be the sole factor in deciding to purchase a home," said Ken Shuman, head of communications at Trulia. Instead, he suggests, buyers should first ask themselves whether they plan to live in the home for at least seven to 10 years, could make monthly payments on the house, and have enough cash in the bank for a down payment and an additional six to eight months' worth of mortgage payments. http://widgets.surphace.com/widgets/sphereit/content?siteid=blogsmith_inpage_dailyfinance&url=http://www.dailyfinance.

austin townUniversity Park: Stable Home Values in Dallas Real ...

Every day the news brings more indicators that the economic recession is lifting. Nowhere is this more evident than in the real estate market. Sales numbers for single-family homes are steadily increasing in key geographic regions around the country. One of these areas, the Dallas-Fort Worth Metroplex in North Texas, offers buyers attractive opportunities in small, stable suburban enclaves like University Park.

Technically a “suburb” of Dallas, University Park is just a short drive from downtown. It’s a college town inside the third largest city in Texas (and the fifth largest in the United States.) Municipalities like University Park represent a large part of why the Metroplex is a major draw for families who want to relocate to Texas and who are considering buying a home or leasing property.

Why Relocate to Dallas?

Texas has survived the recession in much stronger condition than other areas of the country. The state has a lower than average number of foreclosures and has kept its unemployment level hovering at 8% while nationally Americans have grappled with a 10% jobless rate. Additionally:

- According to movers.com, Dallas is the number one city for relocation.

The North Texas region is rapidly evolving as a technology center, with more than 233,000 tech workers currently employed in Dallas. That’s more than Austin and Houston combined. The Metroplex is home to major companies including Research in Motion (the manufacturer of BlackBerry smartphones), Raytheon, Lockheed Martin, and AT&T.

What About University Park Specifically?

On August 2, 2010 the Texas Association of Realtors released figures indicating that home sales in the state rose for the third consecutive period, with single family-home sales up 14% over the second quarter of 2009.

Specifically in the Dallas area, sales are up 12.38%. University Park and neighboring Highland Park (lumped together and known as the Park Cities) are faring particularly well in this climate.

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