November 20, 2008

All markets are different. During the next few years, some housing markets will turn around faster than others. How do you know when your particular market has reached its bottom? If you wait until others pick over the great deals, you'll miss the bottom.

Keep a track of how many properties are listed from month to month. Once you start to see a reduction in inventory then that may mean that buyers are starting to buy. There could be two reasons whey inventory is reducing – overpriced homes may be taken off the market and sales volume could be picking up. You can find out this information from your local real estate agent.

Keep reading national and local newspapers. If your local media reporters are now starting to interview experts in your market and asking questions like, “Have we reached the bottom?” then that might be a sign that there may be a shift.

Talk to your friends and co-workers. How are they feeling about your local economy and housing prices? Are they more optimistic now than they were 3 months ago, or even last month?

Consumer confidence will be a big part in the housing market turning around.

Be on the lookout for mortgage interest rates stabilizing and mortgage companies start to ease lending restrictions.

One of the biggest indicators is when prices have stopped dropping. The secret is to buy before they start to inch back up again!

I’m not suggesting that you wait till the absolute bottom of your market to buy. You have to look at a home as a place to live, not an investment. Only you can determine what an affordable monthly payment is relative to the value of the home you are purchasing. There are individual homes for sale that can be bought at the bottom of your market, even if homes in general have not reached that mark.

Talk to a trusted real estate agent – we can help!

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Local Information for Grapevine, TX

Latitude: 32.935025 -- Longitude: -97.085784

ZIP Codes for Grapevine, Texas	76051 76092 76099
Area Code for Grapevine, Texas	817
Time zone for Grapevine, Texas	CST

Other Area Cities: Frisco, TX Allen, TX Grapevine, TX Bedford, TX Southlake, TX Euless, TX Flower Mound, TX Keller, TX North Richland Hills, TX Colleyville, TX Hurst, TX Watauga, TX Coppell, TX McKinney, TX

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Grapevine is a city in Tarrant County, Texas, United States. As of the 2000 census the city population was 42,059, though the latest U.S. Census Bureau projection puts the city's population over 47,000. The city is named for wild mustang grapes prevalent in the area (the high school football team is named the Mustangs). In recent years several wineries have opened in Grapevine, and the city has been very active in maintaining its historic downtown area. Part of Dallas/Fort Worth International Airport, which serves the cities of Dallas and Fort Worth, is located inside the city limits of Grapevine. On April 1, 1934 Clyde Barrow, Bonnie Parker and Henry Methvin killed two young highway patrolmen near the town. The first recorded white settlement in what would become the city of Grapevine occurred in the late 1840s and early 1850s. Growth during the 19th century was slow but steady; by 1890 the town had about 800 residents. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Grapevine	Texas	United States
Population	42,059	20,851,820	281,421,906
Median age	34.3	32.3	35.3
Median age for Male	33.4	31.3	34
Median age for Female	35.1	33.4	36.5
Households	15,712	7,393,354	105,480,101
Household population	41,847	20,290,711	273,643,273
Average household size	2.66	2.74	2.59
Families	11,318	5,247,794	71,787,347
Average family size	3.14	3.28	3.14
Housing units	16,486	8,157,575	115,904,641
Occupied units	15,712	7,393,354	105,480,101
Vacant units	774	764,221	10,424,540

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November 20, 2008

Local Information for Grapevine, TX

Latitude: 32.935025 -- Longitude: -97.085784

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