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Real Estate Blog

 Real Estate Blog 
Saturday, March 22 2014

A recent CNN Money article listed the top 10 cities people are moving to, and two of them are in our great state of Texas.  Dallas is number three on the list and Houston is number six. This survey was published in conjunction with Penske Truck Rental’s.  

Dallas has a median income of $69,000 with the median home price of $208,000, the home price growth is forecasted at 4%.   Dallas is now the ninth biggest city in the country.  So many tech companies have opened facilities here, that the city is now being referred as the “Silicon Prairie”  Search homes for sale in Dallas here

Many people that work in Dallas choose to live in one of the surrounding communities, all offer great schools, a variety of housing options and easy commute options.   Be sure to check out Plano, Allen, and Murphy

Houston has a median income of $66,200; the median home price is $190,000 with a projected growth for home prices at 3.9%.  The oil and gas industry has kept Houston’s economy humming along, unemployment is at a comparatively low 5.6% (November 2013).  Soon ExxonMobil will be opening a new facility that is expected to employ 10,000 workers. 

Real estate in both of these cities will continue to be highly sought after, contact us today & let us help you with your real estate plans.

Helping you find or sell your home is our goal,

Getting you through the process is our expertise!

 Reechia & Keith

Powell Realty Group

Posted by: AT 09:11 am   |  Permalink   |  Email
Thursday, March 20 2014

We have had several articles lately about why buying is better than renting; why 2014 is the year to buy a home;  and another article announced that several cities in our area are among the fastest growing cities in the nation – all of that is good news!  Along those same lines, we recently read an article that talked about renters across the country that want to and plan to purchase a home this year.  

Great news, right?  

Well, yes and no!  If you are a home owner and are considering selling your home then yes this is great news!   The not so good news is that the supply of available homes is very low; low inventory typically increases prices of homes and stricter lending standards can be a deterrent to buyers.    

Homeowner’s this is the best time to put your home on the market!  Supply is low, this means less competition and more buyers wanting your home, which usually means a short time on the market!   As we move closer to spring and summer season more people will decide to sell their homes, so it is better to be ahead of that “crowd” than in the middle of it. 

Homeowners, contact us, let’s talk about the value of your home, and the right time to sell to achieve your real estate goals!    

Helping you sell your home is our goal,

Getting you through the process is our expertise!

 Reechia & Keith

Powell Realty Group

Posted by: AT 07:56 am   |  Permalink   |  Email
Wednesday, March 19 2014
 
Allen
City in Texas

  • Allen is a city in Collin County, Texas, a northern suburb of Dallas. As of the 2010 United States Census, the city had a total population of 84,246.
  • Area: 27.1 sq miles
Posted by: AT 05:02 pm   |  Permalink   |  Email
Monday, March 10 2014

We often hear people say they are waiting for just the right to “jump into the market” and then the next thing they know they missed the opportunity.   More often than not people tend to think there will know just when it is right to buy – prices and the mortgage rates will be low; but then you wake up one morning and the rates and prices have jumped and then you continue to wait! 

We all wish we could predict what will happen next in the real estate market, but as 2013 taught us the market can change overnight and no one saw it coming.  In 2013 the national average home prices increased 13.6%, so if you missed that timing should you wait or jump now?  

Market forecasters predict that 2014 will be another year of gains for the real estate market so you should be in the market NOW!  

It is expected that home prices will continue to increase in 2014 and some say a 5% increase is very realistic. 

Mortgage rates are expected to increase about .5% this year. 

Buying a home is almost always a good investment in the long run, especially when you factor in the tax benefits as well. 

If you are a home renter, at the end of the year you have 12 cancelled rent checks, but a homeowner has 12 cancelled mortgage checks that are nearly fully tax deductible in most cases.  Recently we explored why buying a home is cheaper than renting, and this pile of cancelled checks is just one more reason to be in the market to purchase a home. 

Helping you find your home is our goal,

Getting you through the process is our expertise!

 Reechia & Keith

Powell Realty Group

Posted by: AT 09:55 am   |  Permalink   |  Email
Thursday, March 06 2014

Buying a home does cost less than renting in all 100 large US metro cities according a recent Rent vs. Buy Report from a national real estate website.  As a matter of fact the report states that buying a home is 38% cheaper than renting!   Of course we all know that figures differ from state to state, for example in Honolulu it is just 5% cheaper to own vs. renting and in Detroit it is 66% cheaper. 

Low mortgage rates have kept homeownership from becoming more expensive than renting.  The report does assume that a buyer gets a 4.5% fixed rate 30 year mortgage with 20% down and itemized their federal tax deductions and are in the 25% tax bracket and will stay in their home for 7 years.   

If you are currently renting and considering becoming a home owner, contact us, we can help you decide if it is cheaper for you to buy than rent!  And then of course, we can help you find your first home. 

Helping you find your home is our goal,

Getting you through the process is our expertise!

 Reechia & Keith

Powell Realty Group

Posted by: AT 03:43 pm   |  Permalink   |  Email
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Reechia Powell

Reechia Powell Realty Group
301 S. Watters Road #100
Allen, TX 75013
Phone: (972) 979-9978
Email: Reechia@Reechia.com

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