Existing home sales in the US jumped 5.5 % in September according to the National Association of Realtors (NAR) mostly due to decreasing inventory brought about by investors buying up distressed properties.  This could be the first sign of a bottoming of the sales slump, but many more months of positive sales and decreasing home inventories on the market are needed before experts will signal a turn around in the existing housing market.  Get the full article on Existing Home Sales Jump.

As a comparison to one of our local markets, I'll use one of the areas around Eagle Mountain Lake in Fort Worth, Texas which is commonly referred to by real estate agents as Area 109.  This data is up to date as of September 2008.  As you can see in the chart below, pending sales, new listings, active listings and months inventory are all down from the same month last year.  With the exception of the decrease in pending sales, this is all relatively good news for September.  With fewer new listings and active listings on the market compared with a year ago there is a modest increase in pressure on local demand resulting in less inventory on the market.  If this trend were to continue in the upcoming months, this would indicate that the market has turned around for the existing home market in the Eagle Mountain Lake and surrounding area (109 ) of Fort Worth, Texas.  A normalized market would be indicated at a point in which there is about 5 to 6 months of housing inventory.  If the inventory dropped below 5 months, a seller's market would be indicated.

September 2008 Statistics for Area 109

Although I'm a proponent of the notion that a bargain can be found in any type or market (buyer or seller), now seems to be an especially excellent time to be on the lookout for investor properties or a primary residence.  Give us call or email us and we can get started to help you find a home before the market snaps back.

By Bernie Christian

I've been thinking of ways to save on energy at my personal home.  This summer my mind was on putting up a wind mill.  These are great but after some research, I realized that it would cost me around 12k or more to have one installed and I wasn't yet convinced that this is where I should start my energy savings.  No, that's probably the last thing I will do because of the initial capital outlay.  So, I then changed my thinking to having additional insulation put into my attic.  A company affiliated with Home Depot came out and gave me a bid to spray reflective barrier on the underside of my roof and blow in additional insulation.  The price tag for this was going to be about $4500 considering the size of my attic etc. and this was half off the regular price because this is apparently the off season for this type of project.  Now my thinking has adjusted to maybe having tankless water heaters installed in place of the existing traditional water heaters that are always cooking the water to a certain temperature and burning electricity even if you aren't using them.  I don't have a price tag for this project yet, but the first thing I'll have to do is get a bid from an electrician to provide the proper electrical service for a tankless water heater.  Next will be to get bids from some of my favorite local plumbers.  Although the cost of gasoline has gone down in recent weeks, we tend to forget that just a month or so ago we were all suffering from the high gas prices with no end in site.  This has put me in a energy saving mode which will cost quite a few dollars up front to implement the one of the above described projects and start the savings.  On the other hand, I'm also in a conservative mode with regard to my spending which puts this mode in direct conflict with my energy saving mode.  I just want to do something to help us get away from so much reliance on energy.  I think I'll call an electrician today and get things rolling on the tankless water heater idea.  Oh, did I forget to mention that my wife wants to update our Kitchen and the cost of the energy saving projects would come into direct competition with that?  I guess I need to sell a few more homes if I'm going to get any of these projects done without going to the poor house!  Know anyone needing to buy or sell, give me a call or shoot me an email?

There's an old saying, "You have to spend money to make money".  It seems to be true also that you have to spend money to save it.

By Bernie Christian

The data below represents the market conditions for single family homes from April 08 to present in The Resort at Eagle Mountain Lake, Fort Worth, Texas, but excludes the water front properties in order to insure consistency of comparables.  Waterfront properties would skew the data.  However, golf course lots were not excluded from the comparables.  When pulling this data from the Multiple Listing System (MLS) I was surprised to see that a total of 43 listings are presently on the market(excluding waterfront properties) as compared to 33 in the previous six months.  Therefore inventory for the Resort has increased by 30% placing a downward pressure on sales prices.  This is borne out by the fact that average sales price declined significantly from $470,000 down to $300,013 for the same period, although this increase is a direct result of the greater quantity of larger homes on the market during the previous six months.  What is key is the fact that the price per foot data is down from a high of $121 per sq ft to $102 per sq ft, an unfortunate 16% decline for the neighborhood.  However, this trend is not reflective of the surrounding areas and neighborhoods in the area.

This information should jump right out at the buyers who are reading this article and who might be considering moving to the area.  There are bargains now available for sale on the market.  Now is the time to purchase a property.  It will take only a few sales to reverse this trend and by that time it will be too late!  As I have said in many of my previous articles, you cannot time the market!

Please note that while this data is deemed to be accurate and reliable, it is not guaranteed.  It is generalized and composed of averages and any given home may have particular attributes that make it superior to the average or less than the average.  I cannot emphasize enough why you should consult with a real estate professional to help you understand all of the considerations in the current market for this or any neighborhood.  We have additional detailed data not presented here that must be considered prior to making an offer on a property or any particular major financial decision.

Please give us a call or email us and we will be happy to discuss this data with you and to show any of the properties in The Resort On Eagle Mountain Lake.

 The Resort On Eagle Mountain Lake

Comparable Data April 08 to Present

 Comparable Data Oct 07 to April  08

My wife Terri and I established The Christian Group, a team of real estate professionals, so that we can fully service our customers and clients that come to us for help in locating a lot or a home. 

About what we offer:

• We provide FREE no obligation profession market consultation for buyers and sellers.
• We help qualified buyers search for, tour, and purchase properties
• We custom market seller properties to sell our clients homes for top dollar and in the shortest possible time
• We are highly motivated and respond according to our clients immediate and interim goals.  However, we also take the long view and do not try to hurry prospective clients.  We know that if they want to work with us, they will at a point in which they are ready to do so.
• We provide free access to the MLS and first class market analysis tools on our websites that are second to none.
• We are home marketing experts and and work hard to stay on the cutting edge of web marketing technologies.  To sell in today's market, you must excel in the essentials!
• Because we have a team approach, in terms of market knowledge and familiarity, search tools, market analysis, networking, and actual homes sold, we provide a level of service much beyond what a single ordinary real estate agent is usually willing or capable.
• We strive to be direct, straightforward, and honest and will do our best not to waste your time, we try not to tell you what we think you want to hear, or make empty promises to you!
• With The Christian Group, not only will you enlist the services of some of the best licensed real estate professionals in the industry, you also have one or more agents who will devote the necessary time to your search effort.  Our team approach works very well for out of towners relocating to the Fort Worth area who have only a few days to find a home before returning.
• We value our reputation, seek to earn our clients trust, hold integrity as essential, and follow through to meet our clients goals.  This is why most of our business actually comes from  referrals from people like you.
• We are affiliated with Keller Williams Realty®, a company known for its reputation for maintaining and training the highest quality professional agents in the United States and in the international community.
• The Christian Group sold 125 homes in 2007 to real buyers in Fort Worth and surrounding areas, in a declining real estate market.  We have the expertise to get it done for you too!

Please contact me directly if you think The Christian Group might be right for you!

By Bernie Christian

From the graphics I've inserted below, I have included the Multiple Listing System (MLS) statistics for the Lake Country Estates (a lakeside community on Eagle Mountain Lake, Fort Worth, Texas) and some of the immediately adjacent subdivisions which covers a period of 1 year.  The first graphic below includes the first six months of that period and the following graphic includes the last six months.  In comparison of these two periods, the following can be shown:

Average days on Market - has decreased from 111 to 100 (10% improvement)

Average Sales Price - Decreased from $252, 254 to $248,620 (1.5% decline)

Average Price Per Foot - Decrease from $89 per ft to $86 per ft (3.4% decline)

Please keep in mind that while this data is deemed to be reliable, the analysis of the data in this blog article is based entirely on averages from the MLS.  Many other factors can determine the value of your home such as:

• Waterfront property vs. non waterfront
• Condition of your home
• Location
• Age of the home
• Size of your home in comparison with immediate surrounding homes
• Size of lot on which your home sits
• Swimming Pool vs. no pool
• Various custom features and add ons
• Number of garage spaces
• Updated vs non updated
• Curb appeal and landscaping
• Other factors

Although you can look at statistical data until you have analysis paralysis, the above factors should sufficiently illustrate why you need a professional real estate consultant to provide a custom market analysis for your home.  It is not as simple as taking the square footage of your home and multiplying this figure by the average price per foot.  Your home may be in better than or lower than average condition by comparison to similar type homes and other factors must be considered as well.  The Christian Group is familiar with the properties in Lake Country Estates and we can help you more accurately determine the probable value of your home.

Give us a call today or email us and we will be happy to come to your home and provide you a free market analysis.

By Bernie Christian

Lake Country Estates and Adjacent Subdivisions

Statistics Oct 07 thru Apr 08

Some sellers are unsure about the value of their homes when viewed against the backdrop of all of the negative media hype with our nation's economy.  The good news for sellers is that home values in Fort Worth, Texas are generally very stable and have even in many cases experienced a modest increase this year.  If you're sitting on the fence and uncertain whether to put your home on the market, it's time to sit down with a professional real estate consultant and get a free home marketing consultation.   An experienced professional is really what you need to provide you factual information about what is happening in your local housing market.   Mortgages with great rates are available to buyers and homes are selling...really!  Currently, we have 3 different buyers looking for lake front property and we have been unable to match the buyers with the right house because there is not a sufficient supply of this particular type home on the market.  So, we and they are waiting until one does!  Another current challenge, is finding a home with 1 or more acres with a swimming pool just outside of the Fort Worth extraterritorial jurisdiction (ETJ) where taxes are notably lower.  Yes, there are homes on the market that meet most of this criteria to varying degrees but not so much all three.  You'd be surprised how many people expect a home to have a pool once you get above the 200K threshold with an acre or more.  Builders of this particular niche of home have either left the business (speculative builders) or they have substantially decreased their inventory leaving potential buyers frustrated from the decreased selection.  When one of these homes goes on the market, it doesn't last long!

Maybe someone is just waiting for your home to go on the market to meet their special needs.  Why not lets get together and see if now is the right time for you to sell!

By Bernie Christian

This lovely home located on 8928 Crosswind Drive is one that I've personally admired for years since it is beautifully poised on a rise in the terrain and overlooks the street below. And now this large well designed home is back on the market. We sold this home to the current owners several years ago. We are grateful that they also decided to use us as to sell their home. Call us for an appointment or email us to come and see it!

By Bernie Christian

•  Hire a top real estate professional to provide you a market consultation and aggressively market your home for sale.  The Christian Group has over 25 years experience and sold over 125 REAL buyers and sellers in 2007. We know how to get the job done and you would like us to sell your home!
• Repair and clean your home to limit any negatives that may turn away potential buyers.
• Stage your home for maximum appeal.
• List it now! Don’t wait around or sit out the market hoping that it may change in your favor.  Some sellers believe they can “time the market”, but the reality is that even real estate experts can’t accurately forecast when the market will shift up or down or by how much.  Consult your agent and make decisions based on today’s market conditions. Leave gambling for Vegas!
• Price it right from the beginning. Overpricing will put your home in the wrong market (i.e., with larger homes that are priced to sell) and your target market won’t find you there.  Overpricing = excessive days on market = shopworn = harder to sell = low sales price = frustrated seller.
• Take any reasonable offer. Usually, your first offer is the best one.

By Bernie Christian

The Christian Group is a team of agents that sold more lake front homes than any other agent or team of agents last year (2007) in Fort Worth, Texas.  If its for sale on the lake, we are the most experienced professionals on these types of homes.  So you can count on us to help you find a beautiful water front home on Eagle Mountain Lake, Lake Worth or Lake Weatherford in the shortest possible time.  We can also explain the home buying process and make the purchase of a home as stress free and enjoyable as possible.

Call or email us for an appointment today!

By Bernie Christian

It seems people are convinced the economy is in a major downturn and that the government bank "Bail Out" is going to take some time before it trickles down and stabilizes the financial markets.  Also, the stock market took a major dive yesterday as some people start to pull their money out.  Where are people putting their money?  If you're moving money around and pulling out of other investments, please don't put your money under the mattress -- invest it real estate instead!  There are lots of great bargains in the market right now and there are short sales and foreclosures that are excellent buys.  The first thing to do is call me and let me set you up on a drip email search that will send to you all the homes that meet your specific criteria in terms of price, location, size etc.  It will filter out the overpriced homes and send you the ones that could be the bargain you're looking for.  The idea here is, consider 30 homes that you find of interest, select 10 to actually visit and see, make offers on 3 of them, and buy 1.  Although you'll make 3 offers (generally speaking) you will actually only negotiate one of them.  Repeat this process as often as you like to acquire as many homes as you're willing and able. This is the investors preferred method of research to purchase process.  There are some great renovation loans on the market now where you can make the repairs on the property and wrap it up into one mortgage when you go to closing.  And what if you want to buy a home and live in it?  Did you know that in Tarrant County, Texas that you can still get an FHA loan up to $297,000 with only 2.5% down and the seller can contribute up to 6% of your closing costs? 

Finally, please don't move with the herd and respond as does the "average Joe" out there!  The folks that move with the herd do not think and grow rich.  They take the safe route but most of the time that is not the smart way, it is only an emotional reaction and not a planned response.  Browse our site and look at our numerous listings.  We also provide you free access to the MLS on this site and several tools to get you acquainted with the local real estate market.

If we can answer any questions or be of service please give us a call or contact us!

By Bernie Christian

Don't miss our open House this Sunday, October 12, 1 - 4pm, at 8521 Woodlake Circle, Fort Worth, Texas, 76179, in Lake Country Estates Subdivision.  This is a large open and spacious waterfront property with a diving pool and it sits right on Big Carter Slough and has a boat dock with a deck on top.  This fine property is in the Eagle Mountain Saginaw Independent School District (ISD). Nicely priced at $595,000, with 6 bedrooms and 3.5 baths, if you're looking for a lake front property on Eagle Mountain Lake, this may be the home for you.  Contact Us!

By Bernie Christian

While walking the dog this morning it was much cooler than I've noticed before now.  Fall is definitely on its way as things to begin to cool off.  And speaking of cooling off, since the bailout is obviously on people's minds, some would be buyers seem to be  ignoring this great buyer's market.  I want to reassure folks that money is available to purchase a home here in Texas.  And, there are lots of great loan programs from several lenders that I'm working with that will get people into a home - but one that you can afford of course!  With home prices becoming ever more reasonable, and interest rates still at all time lows, its still a great time to buy! First time home buyers are especially fortunate with the new tax incentives that are out there for them.  Give us a call or email us and we will refer you with an honest and reliable mortgage lender, and work with you in your search to find that perfect home.  This is not the time to be shy or fearful about what is happening in the economy.  If you're able, it is a time to take advantage of the opportunity out there waiting for you!  Don't wait until the economy comes back full swing and we return to a seller's market when sellers are less willing to negotiate and when demand exceeds supply.  Buyers, it really is your day!

By Bernie Christian

When you list your home for sale on the MLS, please do yourself and your realtor a favor and price it right from the beginning.  It should be competitively priced in comparison with similar type homes in your neighborhood and community.  The more it stands out the faster it will sell.  A faster sale will generally net you more money than one where the home languishes on the market and becomes shop worn.  Pricing a home out of its own market only serves to help sell the other larger more expensive homes in the neighborhood.  Pricing the home right will bring the highest number of potential buyers to your home within the first 2 -3 weeks of the beginning of the listing when buyer activity peaks.  If you have very little activity and no offers after that, you should discuss with your realtor about lowering your price.  The key idea in today's buyer's market is pricing ahead of the market.  Because other home owners and their realtors face similar hurdles once a house goes on the market, if you follow the same or similar strategy by just lowering your price, you may face the dilemma of merely moving along at the same pace as your competition, yielding limited results.  Pricing ahead of them by lowering your price below theirs will enable you to get the attention of the limited buyers out there.  This may seem counter intuitive to some people but you have to remember that your goal is to sell the house and this requires an aggressive realistic strategy.  You have to get out of your own way and trust the advice of your realtor. If you wish to make a profit on the sale, you may wish to put off the sale until  the return of a seller's market.  However, if you need to sell the home within the next 1 to 2 years, I advise you not to put off the sale because the market could go lower than it is today.  That strategy would net you less money and with so much precious time gone by.  What other things might you have done with that same time and money had you sold the home earlier rather than later.  As I've written before, waiting for a future more opportune time to sell is more often a vain attempt to time the market and I don't really know anyone that's ever done that effectively, not even experienced investors and fellow realtors.  Oh, there is the occasional lucky person, but if you feel lucky why not go to Vegas instead?

By Bernie Christian

 Figure 1

The media paint the economy in a gloomy light because nothing sells quite like bad news and to some degree bad news can become reality if it is believed in the minds of enough people.  However, is a bad economy bad news for everyone?  Is it bad news all around or might we all find opportunity should we decide to look for it?  Many wealthy people got that way because they could recognize a baragin and seized the moment.  Are you missing your moment?  After this one, how many more buyer markets will there be in your adult life before you do something about it?  You can find a bargain in any real estate market, but this is especially so in a buyer's market.  Indeed, the best market to find a bargain is in a buyer's market.  Even sellers who suddenlty become buyers can take advantage of the countless opportunities present in todays housing and mortgage crisis.  Common sense and Economics 101 says that when housing inventory gluts the market with homes, the supply will at some point exceed demand and viola, a buyer's market is born!  This results in prices trending downward over time and in direct proportion to the overabundance and increasing supply on the market.  Shortly thereafter, buyers begin to notice that prices are lower.  However, a problem for many buyer's is indecision due to uncertainty. When is the appropriate time to buy since if a market is in a downward trend when will it hit bottom.  If they buy to high they could get stuck with a house they paid too much for.  It is unlikely this would ever be the case unless you failed to consult with a professional realtor, and made a really bad purchase.  Your home should easily increase in value because home prices have historically increased over time. Alternatively speaking however, if buyers wait too long, they could miss out on opportunity althogether when it is time for it to swing back to a seller's market.  As I've written before, you can't time the market.  I sell quite a lot of real estate and honestly, I can't time it either.  If you notice in Figure 1 above, sellers can afford to take a lesser price on their home in a buyer's market because trading up to a larger home will turn them into a buyer buying in a buyer's market which should net them a higher savings on the purchase of the larger more expensive home.  The same thing works in the reverse in a seller's market.  In this type of market, the seller should net an amount that is above top dollar for their home, but when they become buyers after the sale, that earned premium can be erased or negated when they in turn pay more for a larger home offered at a higher price.  What can we learn from this?  So long  as money is available for lending and interest rates are low, it is always a good time to buy a home.  Make it you business to know about the market and hire the best real estate agent you can find to help you with the search and purchase of your new home.  Bargain homes are for sale out their right now and in spite of what you may have heard in the media, banks are still making home loans to everyday people like you and me.

Lets go home hunting!

By Bernie Christian