December 2007

Market Overview for Collin County - November 2007

The Market Overview for Collin County through November 2007 is now available. Click the logo to open the report.

This report is compiled from data in the North Texas Real Estate Information System (NTREIS). NTREIS is the provider of the Multiple Listing Service (MLS) for all of North Texas including Collin County. If you would like more detail or want to see the data for a specific city, please email me and I will be happy to send you the data.

Monthly Real Estate Agent Survey - Dallas Market

Tom Branch, the Designated REALTOR(R) and Broker for Realty Revolution LLC, is one of 2400 real estate professionals nationwide who take part in a Monthly Real Estate Agent Survey for Bank of America (BOA) Equity Research. BOA states, "...we believe that agents will provide an accurate assessment of housing market trends in both the new and existing home markets." While this survey is used as part of an Equity Research Report for the Home Builders and Building Products market, the results are indicative of local agents' perspectives on the DFW market. Note this report is not based on sales or other market data, but a survey of agents and what they perceive to be happening in the market.

Click here for the November report for the Dallas market.

Market Overview for Collin County

The Market Overview for Collin County through October 2007 is now available. Click the logo to open the report.

This report is compiled from data in the North Texas Real Estate Information System (NTREIS). NTREIS is the provider of the Multiple Listing Service (MLS) for all of North Texas including Collin County. If you would like more detail or want to see the data for a specific city, please email me and I will be happy to send you the data.

What Is A Short Sale?

Until recently not many sellers or buyers had heard of a "short sale." With the marked increase in foreclosure activity many homeowners are facing foreclosure. Mortgage companies do not want to own property and may turn to "short sales" to avoid the losses incurred with a foreclosure.

A "short sale" is when a property is sold and the lender accepts less than the seller owes on the existing mortgage(s). There are some potential pitfalls for buyers and sellers with this type of sale. For example, just because a lender accepts a reduced payoff doesn't mean that the lender is not going to file a judgment against a seller. The seller may get a 1099 form reporting the portion of debt that was forgiven as income subjecting the seller to additional tax liability.

The lender has the final approval on a short sale contract. These contracts take time to negotiate and then must close quickly--usually within 30 days. Both sellers and buyers can quickly become impatient with the process. The bottom line for buyers and sellers engaged in a short sale is to use a real estate licensee who is experienced in such transactions.

Realty Revolution LLC Named an Accredited Business by the Better Business Bureau

Realty Revolution LLC was named an Accredited Business by the Dallas / Northeast Texas Better Business Bureau for 2008. The BBB provides consumers an easy way to identify trustworthy businesses through its Seal program. Businesses accredited by BBB earn and display the BBB Seal and contractually agree to meet and uphold the organization?s high standards for integrity and reliability. BBB reviews each business that applies for the BBB Seal and strictly enforces its standards, accrediting only those meeting and upholding BBB accreditation standards, and revoking Seals from those businesses that don?t.