November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Mesquite, TX

Latitude: 32.782878 -- Longitude: -96.609862

ZIP Codes for Mesquite, Texas	75149 75150 75180 75181 75182 75185 75187
Area Code for Mesquite, Texas	972
Time zone for Mesquite, Texas	CST

Other Area Cities: Pleasant Valley, TX Mesquite, TX Dallas, TX Garland, TX Rowlett, TX Balch Springs, TX

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Mesquite is a suburb of Dallas located in Dallas County and Kaufman County, Texas (USA). The city had a total population of 124,523 in the 2000 census which increased to 129,902 in the 2005 census estimate. Mesquite is home to the Mesquite Championship Rodeo and is known as the "Rodeo Capital of Texas." The city is also home to computer video game producer id Software, creators of Doom and Quake. In 2001, the Mesquite Skeeters high school football team won the 5A Division I State Championship. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Mesquite	Texas	United States
Population	124,523	20,851,820	281,421,906
Median age	31.9	32.3	35.3
Median age for Male	30.8	31.3	34
Median age for Female	32.9	33.4	36.5
Households	43,926	7,393,354	105,480,101
Household population	123,823	20,290,711	273,643,273
Average household size	2.82	2.74	2.59
Families	32,898	5,247,794	71,787,347
Average family size	3.27	3.28	3.14
Housing units	46,245	8,157,575	115,904,641
Occupied units	43,926	7,393,354	105,480,101
Vacant units	2,319	764,221	10,424,540

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November 20, 2008

Local Information for Mesquite, TX

Latitude: 32.782878 -- Longitude: -96.609862

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