January 2009 Archives

The November 2008 Case-Schiller report is out today.  We continue to have the lowest one year decline, but suffered a closer to average loss for November.

S&P/Case-Shiller Home Price Indices, November 2008

Metro Area	One Month Change	One Year Change
TX-Dallas	-1.9%	-3.3%
CO-Denver	-1.1%	-4.3%
OH-Cleveland	-1.2%	-5.2%
NC-Charlotte	-1.9%	-5.3%
MA-Boston	-2.6%	-7.4%
NY-New York	-1.6%	-8.6%
WA-Seattle	-2.5%	-11.2%
GA-Atlanta	-2.7%	-11.2%
OR-Portland	-2.3%	-11.5%
IL-Chicago	-2.8%	-12.5%
MN-Minneapolis	-2.1%	-16.3%
Composite-20	-2.2%	-18.2%
Composite-10	-2.2%	-19.1%
DC-Washington	-2.4%	-19.4%
MI-Detroit	-3.1%	-20.7%
FL-Tampa	-2.8%	-20.9%
CA-San Diego	-2.3%	-25.8%
CA-Los Angeles	-2.2%	-26.9%
FL-Miami	-2.2%	-28.7%
CA-San Francisco	-3.0%	-30.8%
NV-Las Vegas	-3.3%	-31.6%
AZ-Phoenix	-3.4%	-32.9%

This chart shows the monthly change in the Dallas and Composite-20 index for the past two years:

This is a great idea.  The city council may ban all cellphone use if the state legislature doesn't do so this session.

Click here for the Dallas Morning News article.

Here is the sales activity for cities that I specialize in.  These are the final year to date numbers for 2008.  Activity was down, prices were steady, and days on the market were up.  Mortgage rates are very low and the new year has started with good buyer activity, giving us some optimism about this year.  There may be downward pressure on prices as some sellers who have held back must take action.  And of course, no one knows what's going to happen with the economy.  Southlake and Colleyville have 7-8 months inventory, the city of Keller is at about six months, and Grapevine only has four months.

MLS Activity Report for Selected Areas

City	# of Sales	% Change vs. Prior Year	Avg Sales Price	% Change vs. Prior Year	Median Price	% Change vs. Prior Year	Avg Days on Market	% Change vs. Prior Year
Bedford	533	-7%	$165,986	0%	$156,950	1%	59	18%
Colleyville	373	-19%	$515,652	-3%	$417,000	-7%	73	18%
Denton County Southeast	3,521	-21%	$239,322	-4%	$194,000	-3%	70	19%
Euless	434	-18%	$156,820	2%	$151,500	1%	56	2%
North Central Tarrant	1,963	-12%	$161,649	1%	$150,000	0%	74	4%
Grapevine	486	-16%	$247,593	3%	$230,000	5%	51	13%
Hurst	550	-10%	$150,725	-2%	$139,900	0%	82	39%
Keller	750	-19%	$339,281	5%	$287,250	1%	81	27%
N Richland Hills / Richland Hills	765	-16%	$167,451	0%	$133,250	-2%	68	5%
Roanoke	171	-20%	$160,480	3%	$150,000	5%	79	34%
Southlake	485	-19%	$634,944	3%	$545,000	4%	78	10%
Trophy Club / Westlake	164	-15%	$472,345	3%	$260,000	1%	85	25%
Watauga	304	-28%	$102,044	-2%	$99,900	-1%	65	-2%

Note: All Information is from North Texas Real Estate Information System (NTREIS) and is believed but not guaranteed to be accurate.

At the risk of having folks think that the Rupperts don't do anything but eat, I want to share this terrific restaurant with those who may not have discovered it.  This is my husband's and my favorite place for a quiet dinner after a long work day.  It is also a favorite place to bring clients for a break when showing a long list of properties.  Expect great food, a good wine list and an elegant but friendly atmosphere.  You will be well taken care of!  And best of all, it is quiet enough so that you can enjoy a conversation with friends.



Ruggeri's is located in the Village in Colleyville.  The link below will take you to their website where you will find a menu and hours of operation.  I hope you enjoy it as much as we do.

http://www.ruggeriweb.com/index.html

When I was a lot younger and a lot braver, I owned a horse and loved riding.  At that time I was in the corporate world.  I found that getting away from the office and riding that wonderful horse was a terrific way to relieve stress and get things back in perspective. 

I was very interested when I read this piece about a horse-riding group forming in Keller.  If you or your children have any interest, you might want to check this out at:

www.kellersaddleclub.com

Good article at http://www.star-telegram.com/804/story/1121471.html.  (Well, it was a good story, but has since "expired" and pulled down.  Wish they wouldn't do that.)

On housing:

"There is still enough of a glut to hold the market back from a rebound in the first quarter, said David Brown, director of the Dallas-Fort Worth region for MetroStudy. But he's looking for sales and prices to start gaining traction by midyear..."