BILL CHERRY, REALTORS9936 WindlakeDallas, Texas 75238214 503-8563AUGUST 1, 2007 THROUGH JANUARY 31, 2008 ACTUAL SALES REPORTED TO MLS  LAKE HIGHLANDS ZIP CODE  Square FeetBedroomsFull BathsHalf BathsList PriceSale PricePrice per Square FootDays on MarketMin1100210$112,000$78,000$591Avg2015320$216,811$210,803$10453Max4702742$499,000$499,000$170259Sales that were not handled by a member firm of the Metroplex Association of Realtors Multiple Listing Service are not included in these statistics.  While I believe this report to be accurate, it was nevertheless prepared from that source which I did not audit or otherwise verify. 02/05/2008

For as long as I've been in business, many of my clients have never gone to a title company office to close their half of the transaction.  I handle the closing for the title company in my private office, in the client's home, and frequently at their own office desk.Frankly there are very few of us who do this.  Licensing requirements have not focused on abstract and title issues in many years.  In some states, they never have.  Things were different in Texas in the '60s.Back when I was first studying real estate in the University of North Texas Business School in the early 1960s, the university's requirements were voluminous and stringent.  After all, those of us in the classes were getting college credit for them.On top of that, if the school certified to the state that the student ha... 02/01/2008

To those of you who have been planning to buy your first home, and to those of you who long to sell your old one and move to a new one, I want you to consider fulfilling your dream today.  Right now!You may be assured that the sub-prime loan diabolical, the rising foreclosures, the worry about a possible recession, the rising prices of gasoline, and any other negative that is spewing from the mouths of news people, politicians and your friends in the neighborhood, at work and at church, are in reality nothing more than modest glitches to the housing values.The overwhelming chances are that things are no different for you now than they were two years ago or will be two years from now.What gives me such a pedigree to be able to confidently make these statements?  I've been in the real est... 01/31/2008

  Another builder is in over their heads!!  Newmark's parent company in Houston, Tousa, filed Chapter 11 with "plans to fix its balance sheet."Newmark isn't a large builder in Dallas, but they're definitely one of the larger medium builders and have 27 communities throughout Dallas and Ft Worth.  When Newmark combines with one of their sister companies, they are ranked number 10 among closings in the last Chronicle 100 survey.They had already reduced their staff down from 3200 to less than 1400... I wonder how many communities are not manned with onsite sales reps anymore.  It's such a pain to have to call ahead and check to see if someone can meet you at the community instead of showing up between 10am-6pm and having someone there.The company continues to accept new contracts and expec... 01/30/2008

01/30/2008

Even though our market is suffering, we can still use what we have to our advantage... I have been getting numerous calls from investors and buyers who want to take advantage of all of the inventory currently on the market.  They are excited about great deals on property and low interest rates!  There is enough business out here for everyone...hopefully we will all prosper this year! 01/25/2008

I try to look for and emphasize the good news in the real estate market... and there is a lot of good news out there.  Interest rates are low, buyers seem to be interested in buying again after what seemed to be a slow 4th quarter of 2007.  Well priced and well updated homes are in high demand in several areas of town, and inventory is still high enough that buyers have some good choices.  But some numbers just are difficult to ignore!  Case in point, I was reading the newspaper last week and sadly was not entirely shocked to see a story reporting a rise in homes scheduled for foreclosure next month.  What did surprise me was the percentage rise reported... it was an increase of more than 30% from the same month last year!I took some notes while reading the article. Among them, I noted ... 01/23/2008

Some of the local boards haven't officially released their December 2007 market statistics, but the Dallas board is out in front with their final numbers. Below is the summary for the Dallas-Fort Worth-Arlington real estate market for December including data since 2005. See the data charts below. They are viewed best in full screen mode. | View | Upload your own DOWNLOAD THE PDF NOWDECEMBER 2007 DALLAS-FORT WORTH MARKET SUMMARYContinue reading "Dallas Stats In: View the Latest Market Update"   01/22/2008

 As many say "Live Large, and Think Big" here in Texas and the city of Dallas certainly does.  The city of Dallas spreads over into Collins and Dallas County.  I only manage property in Collin County, but it is a highly profitable market.  Dallas attracts many business gurus for computer technology and banking, it also is the 4th-largest metropolitan area in the United States. Defiantly a good thing to look into if you plan to relocate sometime in the future. 01/22/2008

 One of my favorite places to manage properties is my hometown of Collin County Texas.  I grew up just outside of Mckinney and absolutely love the area.  With Dallas also located in the county and a continual population growth over the past years, it attracts many people for its fantastic job market.  It also ranks 23rd in the countries richest counties.  So it you are looking for a great place filled with plenty of amenities, I fully recommend Collin County Texas. 01/22/2008

                                             BILL CHERRY REALTORS214 503-8563Our 43rd Year Serving Texans DALLAS AREA RESIDENTIAL SALES DATAJANUARY 1, 2007 THROUGH DECEMBER 31, 2007      AREANew ListingsAvg. List PriceUnder ContractNo. SoldAv. Sales Price        North Dallas1936$1,033,930953967$727,461.00 North East Dallas1856199,5731,0681,058187,004 North West Dallas51272,4863538206,585  Oak Lawn2,893392,7571,3161,324307,905         Garland5,076130,9762,5962,484122,469 Grapevine939266,115610574237.112 Irving1,5352,212,4221,7971,676183,745 McKinney4,985271,4112,6172,578223,607 Richardson2,445175,2371,4651,440165,230         The information provided above was compiled from files of the Metrotex Association of Realtors Multiple Listing Service.  Neither they nor I warrant the accuracy, al... 01/19/2008

 SUNDAY IN THE PARK WITH BILL CHERRY, 14th EditionIf it's going to warm-up today in Dallas, it had better get busy doing it.  Although the day is clear and crisp, it's a bit brisk on the bench here in the park.  Thanks, though, for stopping by for our weekly Sunday after church visit.THIS PAST WEEK one of my blog subjects dealt with those whose marketing is primarily devoted to stating that they are Number 1, the Top Realtor, the Best OB-GYN doc, sell the most fried chicken, or whatever.Several hundred have read the piece thus far, and about eighty or so have taken the position that they feel those ads are usually deceitful and objectionable.  I think if they stretch the truth or are blatant lies, they are totally unethical.  And that they are used without audit shows that professional ... 01/19/2008

Dallas Homes Group consists of Mic Ruthenberg & Tracie Miller Mennillo who enjoy the daily duties of helping Dallas area sellers and buyers. With a combined 28 plus years of real estate experience we have found that no transaction is to be taken for granted. Each transaction requires close attention to detail. Every client has put their faith and investment in our hands and we take great pride in making sure their interests come first. We are both experienced with sellers and buyers, relocation, short sales, fha, va. land contracts or anything clients can experience in a residential transaction. 01/18/2008

 I found a very cool website today.  It lists all the mortgage companies that have closed their doors, and in the order that they closed.  As of this post, the list is at 218!! I found myself going through the list, from bottom to top, with my jaw dropping on the floor.  I knew many of the names that would be on the list, but I was surprised by many.Ameriquest is even on the list, and that leaves us wondering what the name of the Texas Rangers Stadium is going to be next year.Did you see your favorite lender on the list?  Those were good times... **the above graphic was taken from their website**you need to scroll down to the bottom of the page for the list 01/18/2008

It has been said that litigating a dispute is a bit like "performing brain surgery with an axe."  Mediation is a wonderful solution to resolving issues of concern. The parties work with a trained neutral that facilitates the settlement discussion.  Mediation is: Timely Cost effective Confidential Empowers participants to design their own solution to the conflict I know many people who have used this approach to find creative resolution to their issues.  01/18/2008

Here are the final numbers for the Dallas and Ft Worth areas for 2007:Number of Sales: 80,740% Change Year Ago: -7%Average Price: $202,338% Change Year Ago: +5%Median Price: $149,900% Change Year Ago: +1%Active Listings: 47,668% Change Year Ago: +7%As you can see, the number of sales might be down, but prices are NOT down.  Stop watching National News statistics because we aren't following the National trends.  Buyers aren't getting 70 cents on the dollar.  Prices are still very competetive as an average.Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!   ARE YOU PACKED YET?! 01/18/2008

Jason Garrett helped the Cowboys break several records and after interviewing and being offered Head Coaching job elsewhere, decided to remain with the Cowboys as the Assistant Head Coach.This position comes at a price of about $3.5 million!  Almost as much as the Head Coach.Personally, I really like Jason Garrett.  I loved him when he played for the Cowboys.  I hated it when Jason got the Cowboys through the Playoffs and then they allowed Aikman to play the final game.  Yes, Aikman was the starter and he was coming back from an injury, but he was out for a lot of games, and Jason deserved to play. I was very disappointed when he left the Cowboys.I was very excited when he returned.  However, to go after a Head Coaching job after just 3 years in a coaching position is a little premature... 01/17/2008

I recently heard on the news that the average time it takes to sell a house in Dallas is 80 days and that the median price of homes has actually risen (very very slightly).  Compared to many other markets in the report, Dallas was near the low end of the DOM scale, only Denver was lower.  These are positive signs of the strength of the Dallas real estate market!  I hope that buyers and sellers take this news to heart the same way that they seem to take the doom and gloom national news so seriously.  Based on the market activity I have seen since the holidays I would bet that the 80 day number is going to start dropping, especially for homes that are well priced to reflect their condition and their local market realities!What's the magic number in your area? 01/12/2008

Just today, yet another acquaintance looked at me with dismay as she asked, "How's business?"  Her mood lifted when I told her that it's just fine!  It is true that there has been significant change in the mortgage industry, and there is a lot of real estate inventory on the market right now, but when the media reports dismal-sounding figures, they fail to add any perspective.  People are still buying and selling real estate!  Banks are lending money!  Interest rates are low!  I had a great December and am picking up two listings this month and working with several buyers.  The acquaintance in question is spooked because she has to re-finance next September due to a 5 yr ARM coming due.  She has great credit, a ton of equity in her home, money in the bank, and good income.  Yet, when sh... 01/10/2008

I am on the Texas (TAR) Professional Standards Committee and I was just emailed the changes that were adopted for 2008 from NAR, and I kinda chuckled.  I'm not sure if others have read the changes, but this really caught my eye.Article 12 used to say, "REALTORS® shall be careful at all times to present a true picture in their advertising and representations to the public..."The revised Article says, "REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advetising, marketing, and other representations..."What caught your eye?  What caught my eye is what should have caught your eye too since I bolded the words, that we went from having to be "careful" to having to be "honest and truthful".  When I see that, it shows that ther... 01/10/2008