News

Shadow Inventory—Ready, Set, Serve

All Hands On Deck! Recently released findings from Fitch Ratings, indicate that 7 million homes are on the brink of foreclosure or already foreclosed and waiting to be marketed. Based on current sales trends this “shadow inventory” will take an estimated 40 Months to clear.

REO Industry Counter Effect on Neighborhoods
REO Professionals can play an essential role in managing and disposing the anticipated avalanche of assets because every foreclosure represents a “human tragedy”. When families suffer, neighborhoods, cities, states and our economy in general suffers. Read more

What Recession? Hot selling zips defy gravity…

Did you know that there are areas of the country with homes selling at our near 5% ABOVE the asking price? That’s right. Despite the general “perspective” on the housing market, there are many areas of the country with record growth and California holds 5 of the top 10 spots according to ZipRealty.

homes for sale

Chicago

Top Seller
The country’s “hottest selling ZIP” is found in the Greater Grand Crossing community in Chicago, Illinois. In Greater Grand Crossing it is common to see homes sell for 9 percent above list price. Other listed bright sites include, North Las Vegas, Fort Lauderdale, Florida and Covington, Washington.

homes for sale

Durham

Coldest Seller
In case you’re curious, the coldest ZIP in the country was located in Durham, North Carolina. Homes in this city sold for an average of 81% of list price during 3rd Quarter.

Are you seeing any of these trends in your market?

Paying it Forward: First Preston is investing in their local community

As a business, our job is to empower communities all over the nation. We live out that principle through getting involved in our own community here in Dallas by supporting several amazing organizations. One of our favorites is the Dallas Women’s Foundation.

The DWF strengthens the entire community by increasing the investment in women and girls and empowering women’s philanthropy. In addition, they have poured more than $13 million into 950 community service organizations in North Texas. This has made it possible to lift the hopes and lighten the load of 250,000 “at risk” women and girls in the area. Read more

Mortgage Rates Are the Lowest in History!

If you needed a reason to have a real estate broker party, this would be it! We are excited about the news and wanted to make sure to share it with you.

Rod Stewart

“Since financial companies started keeping track of mortgage rates in 1971 – when GIs where being sent to fight in jungles of Vietnam, Rod Stewart was belting out Maggie May”, and the median price of a home was $24,300 – this has never happened.”

Here’s what all the buzz is about…Mortgage rates on 30-year loans can be found throughout the industry at 4.2%. Fifteen year rates are in the 3.75% range. Read more