LAS COLINAS TX REAL ESTATE - LAS COLINAS TX HOMES FOR SALE - LAS COLINAS REAL ESTATE & FORECLOSURES

Thank you for visiting my Las Colinas TX real estate web site in Dallas County, Texas. If you're searching for Las Colinas TX real estate, Las Colinas TX homes for sale, condos, townhomes, lofts, vacation homes or Las Colinas TX new home developments you've come to the perfect real estate website that has every real estate resource at your fingertips. Please view the Las Colinas TX real estate buying and selling tips that provide every bit of information needed to assist with buying or selling Las Colinas TX real estate and homes for sale.

If you're a first time home buyer, investing in Las Colinas TX homes for sale, looking for Las Colinas TX foreclosure information, planning to relocate or looking for a Las Colinas TX custom built home in a private gated community you can find it here! Request more information from an experienced and helpful real estate agent in Las Colinas TX today!

The number of unsold properties hit an all-time high, the latest indication that the worst housing slump in decades is far from over. Prices nationwide are not expected to hit bottom until early next year.

The National Association of Realtors reported Monday that sales rose to a seasonally adjusted annual rate of 5 million units, down from June's downwardly revised rate of 4.85 million units. Sales had been expected to rise by only 1.6 percent, according to economists surveyed by Thomson/IFR.

"The process of a recovery has begun," said Joel Naroff, president of Naroff Economic Advisors. "It's not going to be short and swift, but it's begun nonetheless."

Home sales were about 13 percent lower than a year ago and prices were down dramatically. The median price for a home sold in July dropped to $212,000, down by 7.1 percent from a year ago.

Despite the third monthly sales increase this year, the number of unsold single-family homes and condominiums rose to 4.67 million, the highest number since 1968, when the Realtors group started tracking the data. That represented a 11.2-month supply at the July sales pace, matching the all-time high set in April. Until the inventory level is reduced to more normal levels, analysts say, the housing slump is likely to persist. The inventory level is being driven higher by a massive wave of mortgage foreclosures.

Between 33 and 40 percent of sales activity is coming from foreclosures or other distressed properties, he estimated. While buyers are pouncing on lower prices, - especially in places like California, Florida and Nevada - sales are sluggish in formerly stable states like Texas.

"People are responding to lower prices," Yun said, but there is "too much uncertainty" about the housing market's future to mark a definite bottom. One key unknown is the future ability of mortgage finance companies Fannie Mae and Freddie Mac to supply money for loans. The two government-sponsored companies have dramatically cut back the availability of mortgages as they cope with mounting losses from foreclosures. President Bush last month signed sweeping housing legislation that aims to prevent foreclosures by allowing an estimated 400,000 homeowners to swap their mortgages for more affordable loans, but only if their lender agrees to take a loss on the initial loan.

Even with government help, nearly 2.8 million U.S. households will either face foreclosure, turn over their homes to their lender or sell the properties for less than their mortgage's value by the end of next year, predicts Moody's Economy.com.

Steve Brown, Dallas Morning News

Potential DFW homebuyers who are nervous about whether it's a good time to purchase a house might find some comfort in a new report. But analysts caution not to get carried away with the data. The study by the Center for Economic and Policy Research and National Low Income Housing Coalition projects that D-FW homebuyers could see one of the best increases in equity in the country during the next few years. Las Colinas TX real estate is one of the most stable markets when it comes to holding a home's value.

The comprehensive report looked at home ownership and rental costs and the prospects for building home equity in 100 metropolitan areas. In terms of building equity, the D-FW area is among the top five markets expected to do well between now and 2012. A homeowner who buys a house priced at 75 percent of the median for the area could gain more than $80,000 in equity four years from now, the study finds. "I wouldn't want people to run out and make investment decisions based on this," Dean Baker, one of the authors of the report, said Thursday. But he said the Texas market is probably in the best shape in the country.

Indeed, while home equity is likely to grow during the next few years in Texas cities such as Las Colinas Texas Homes For Sale, homeowners could lose equity in their houses in about a third of the cities in the report. The biggest declines are forecast in markets that have seen big price increases in recent years, including many California cities. Median home sales prices in North Texas have dropped only slightly during recent months, while residential values in many coastal cities have decreased dramatically and are still falling.

Mark Dotzour, chief economist with Texas A&M University's Real Estate Cente

According to current updates from the city of Irving, there are two major development additions planned for the Urban Center in Las Colinas that will offer area residents and business workers a variety of activities and entertainment options.

The Las Colinas real estate project will include a four or five level entertainment venue and will seat 7,000 in a concert showroom and 2,000 in an outdoor equestrian arena. The project also will include a retail venue of approximately 217,000 square feet of quality retail, cinema and office space, with a hotel and condominium/spa venue that includes 140 guest rooms, 32 luxury condominiums, a 20,000+ square foot luxury spa and 25,000 square feet of retail space. Construction is scheduled to be completed by late 2009.

Thank you for visiting our Las Colinas TX real estate web site! If you're searching for Las Colinas TX real estate or Las Colinas TX homes for sale we can help. Just complete our free Las Colinas TX real estate information form to get current information about the Las Colinas TX local real estate market and much more.