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 Denton, TX

Latitude: 33.216296 -- Longitude: -97.129194

ZIP Codes for Denton, Texas	76201 76202 76203 76204 76205 76206 76207 76208 76209 76210
Area Code for Denton, Texas	940
Time zone for Denton, Texas	CST

Other Area Cities: Coppell, TX Frisco, TX Keller, TX The Colony, TX McKinney, TX Denton, TX Flower Mound, TX Lewisville, TX Bartonville, TX Double Oak, TX Highland Village, TX Aubrey, TX

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Denton was founded in 1856 because of the need for a county seat. Denton, as well as Denton County, was named after John B. Denton, a prominent Methodist lawyer and Native-American fighter. The city was ultimately incorporated in 1866, when J.B. Sawyer was elected the first mayor. The current mayor of Denton, as of 2006, is Perry McNeill. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Denton	Texas	United States
Population	80,537	20,851,820	281,421,906
Median age	26.8	32.3	35.3
Median age for Male	26.8	31.3	34
Median age for Female	26.9	33.4	36.5
Households	30,895	7,393,354	105,480,101
Household population	72,695	20,290,711	273,643,273
Average household size	2.35	2.74	2.59
Families	16,407	5,247,794	71,787,347
Average family size	3.06	3.28	3.14
Housing units	32,716	8,157,575	115,904,641
Occupied units	30,895	7,393,354	105,480,101
Vacant units	1,821	764,221	10,424,540

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November 20, 2008

Local Information for Denton, TX

Latitude: 33.216296 -- Longitude: -97.129194

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