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Dallas Fort Worth Real Estate Blog by Forever DFW Realty

With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.

Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild.

Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash.

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Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds.

For the fourth year in a row, Real Estate has come out on top as the best long-term investment! This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26%.

The study makes it a point to draw attention to the contrast of the sentiment over the last four years compared to that of 2011-2012, when gold took the top slot with 34% of the votes. Real estate and stocks took second and third place, respectively, while still in recovery from the Great Recession.

Bottom Line

As the real estate market has

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The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at NAR:
"Sellers are in the driver's seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers. Buyers are showing

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There are some experts questioning whether the current pace of residential home sales is maintainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.

Why the concern?

Some are looking at the last four years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.

However, if we go further back in history, we can see the real picture. After taking out the “boom & bust” years, the pace of sales is growing at quite a natural pace.

And new home sales are way below historic numbers. Dave

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Bumbershoot BBQ may be a bit hard to find, tucked away in the trees of Argyle along US 377 - but once you do find it you won't stop coming back! Bumbershoot BBQ perfectly encompasses the laid back dining lifestyle in Texas. Enter through the iron latched gate into a wooded area and you'll see wooden picnic tables with umbrellas because who wants to sit in the hot Texas heat, string lights for when the sun goes down and of course the vintage travel trailer where you place your order! 

The menu offers up plenty of meat including brisket, turkey, ribs, chicken, sausage, hot links and pulled pork. A variety of sides are served as well such as potato salad, baked beans, potato chips and their famous loaded tater tots! Bumbershoot BBQ is the perfect

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From the outside, you'd never guess what was really happening behind the wooden doors of the whimsical cottage with round windows, a crooked roof and large stone chimney. Situated near the corner of U.S. 377 and FM 407 sits Kimzey's Coffee, Argyle's newest addition to the fast growing foodie community. 

Kimzey's Coffee gives some insight into their business and dreams stating, "Kimzey's is full of life, while at the same time, it offers a comfortable place to sit back and relax. Along side of the whimsical atmosphere, it provides a delicious cup of coffee, a few delectable food items, and some soothing alcoholic beverages."  They go on to say, 

"Kimzey’s Coffee dreams of a world brought together by good coffee, a kind community, and a

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The creation of Earls 377 is based on a little love story that may or may not be true and it goes a little something like this: Isabella met Earl 32 long years ago when he was stationed in Italy. Isabella and Earl fell in love and moved to the great state of Texas. Isabella dreamed of having her own kitchen to share her grandmothers wonderful recipes with the world. What did Earl do? He bought Isabella an old fire station in Argyle, Texas and got to work building Isabella's dream restaurant.  Earl used anything he could find including banjos, old firefighter hats and even shovels to make Isabella's dream come true.

Earls 377 serves traditional pizza with traditional toppings as well as pizza with untraditional toppings like crawfish and

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In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

SUPPLY

The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.

DEMAND

Every month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 42 out of 50 states nationwide, and Washington, DC.

Many buyers are being confronted with a very competitive market in which they must compete with other

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Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long would it take you to save for a down payment in each state?

Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.

By determining the percentage of income spent renting a 2-bedroom apartment in each state, and the amount needed for a 10% down payment, we were able to establish how long

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Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home.

According to the Tax Policy Center’s Briefing Book -“A citizen's guide to the fascinating (though often complex) elements of the federal Tax System” - there are several tax advantages to homeownership.

Here are four items, and a quote on each, from the Briefing Book:

1. Mortgage Interest Deduction

“Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage. The deduction is limited to interest paid on up to $1

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