Dallas Home Appraisals News and Information

As time runs out on the $8,000 tax credit for first-time homebuyers (your loan must close before December 1 to be eligible and, with closings taking 45 days and longer, there is no time like the present if you are still hoping to take advantage of this incentive), a new study finds that the Dallas/Fort Worth area will be among the ten highest performing housing markets for 2009.

The study, conducted by Local Market Monitor and reported in the Dallas Morning News last Wednesday, looked at the combined impact in cities with less than average declines in employment, home values that are staying relatively stable, and did not have the same kind of housing boom that other areas saw (like California, Florida, Nevada and Arizona, which will not fare well in 2009).

It is unclear of course how long it will take for home values to begin to rise again, and even less clear that they will ever reach the levels they were at pre-bust.  In some cases, similar to a stock market correction, home values have reverted to probably where they should have been, which indicates that they will remain stable for a long time to come.  Additionally, however, there are still a number of short sales and foreclosures in the area that offer great investment opportunities for buyers who are prepared to hold on to them for at least a couple to few years (or who are willing to sell sooner for a lesser profit).

If you are interested in taking advantage of the tax credit before the time expires and need help getting started, contact us at Blue Star Appraisals Inc. for a referral to one of our trusted realtor and/or broker clients who can help guide you through the process.  Now is also a good time to contact us if you are interested in a home appraisal for protesting your property tax assessment, PMI removal, determining market value before you list or remodel, or for any other reason!