Upcoming August Real Estate Auction!

Fantastic Opportunity to Buy Real Estate In August!

107 N. Western Amarillo TX

August 7^th @ 10AM

Starting Bid $25,000

3 Bed, 2 Bath, 1250 SF

Newer Central Heat and Air

Storage Building

More Info 

7650 Mission Canyon TX

August 7^th @ 12 Noon

Starting Bid $50,000

4 Bed, 2.5 Bath, Office, Loft, Formal Dining, Open Floor Plan, Sprinklers, Security Sys all on 1 Acre. Beautiful Home 

More Info

9000 Blackhawk Amarillo TX

Sealed Bid Auction July 29th - August 12 @ 9AM

Starting Bid $100,000

3 Bedroom, 3 Bathroom, Office, Finished Basement w/ Closet

Gourmet kitchen filled with all the amenities you could ever want, Living Room, Family Room, Dining Room, Out Door Kitchen.

This is an amazing home that you have to see to believe the attention to detail and craftsmanship that went into this home. No expenses were spared from the foundation to the finish on the paint, truly one of the most beautiful homes in the Area.

More Info

144 N Main Childress TX

August 14th @ 12 Noon 

Starting Bid $2,500

2750 SF Commercial Building in Downtown Childress, Perfect for Conducting Business. 

More Info 

Contact  Dirk van Reenen for more information on any of these auctions

806 654 3842 or dirk@pru-ada.com  

Survey Finds Sidelined Homebuyers Are Preparing to Enter the Market

07/16/2010 By: Brittany Dunn 

Although both new and existing home sales were down in May, it’s not all bad news. According to a new survey by Relocation.com, more Americans are positioning themselves to purchase a home in the near future.

The survey found that some families are opting to rent while they research for deals to purchase a more desirable home in their area. There’s no surefire way to determine when these sidelined homebuyers will enter the market, but the survey results were encouraging.

Of the 60 percent of individuals moving into rentals, 24 percent were previous homeowners renting temporarily while they look for a new home to purchase. Underscoring this finding is that for many of these families, foreclosure was not the reason for moving. In fact, the number of consumers who moved due to foreclosure dropped by 70

percent compared to Relocation.com’s February 2010 survey.

“While the housing market continues to flux from month to month, we’re seeing strong, continued interest as consumers looking to move start their research with us,” said Sharon Ashser, chairman and founder of New York-based Relocation.com. “These findings suggest that more Americans may be poised to re-enter the housing market this year.”

While it seems that financial and economic issues still continue to exert an effect on U.S. moving behaviors, the survey found signs that the worst of the recession crisis may be over. In the February 2010 survey, 18 percent of respondents indicated that they moved to a new location with a lower cost of living and/or cheaper rent, but this percentage dropped to 7 percent in June. Furthermore, only 4 percent of the consumers in June moved due to a job loss, a drastic drop from the 13 percent who moved for that reason in February.

When it comes to homeownership, the survey found that 18 percent of movers tracked in the June survey were homeowners who moved and purchased a new home, up from 12 percent in February. And an additional 12 percent were former renters who moved to purchase a home. The June survey also found that 4 percent of movers were able to purchase a home for the first time due to the decline in home prices, and another 10 percent moved to a bigger, better home or a better neighborhood.

2nd Quarter Amarillo Real Estate Report by Neighborhoods

2nd Quarter Amarillo Real Estate Report

The second quarter wrapped up the first time homebuyers and existing homeowners tax credits and the numbers showed it!

There was a BOOM in new contracts in April and we saw the results in May closings. The month of May had the 4^th largest number of closings Amarillo has ever seen.

Top Months of Amarillo Closings

#1 August 2006 with 356 Closed

#2 May 2007       with 351 Closed

#3 May 2006       with 340 Closed

#4 May 2010      with 338 Closed

The large number of closings left us with a super low inventory rate of 5.66 Months in May and wrapped up the quarter with a very low 6.6 Months. Substantially lower than the 14.24 Months of inventory in January 2010

The 2^nd quarter sales totaled $128.58 Million Dollars which proved to be the strongest quarter in over 2 years for Amarillo. The average home listing price at the end of June was $154,445 while the average sold price was $149,078. The average DOM (Days on Market) at the end of the Quarter was 109 with 1502 new listings that came to the market during the 2^nd quarter.

The Amarillo Real Estate Market is still holding values steady (0%-3% down from 2008). With so much positive news in Amarillo (Bell Helicopter Expansion, Zarges Wind, Alstom Wind Etc) and new job expansion and creation coupled with historic low 15 and 30 year mortgage rates (4.35%-5%), we are looking forward to continual growth and strengthening of the real estate market in 2010.

We in Amarillo are blessed to live in such a secure and stable market, thanks to our city leadership, strong local financial institutions, the Amarillo Economic Development Corporation, and most of all the great people of Amarillo.

For information specific to your neighborhood or for a free real estate consultation please contact me at 806 654 3842 or dirk@sweethomeamarillo.com   

 I work with buyers, sellers and investors.

P.S.

5 Reasons that now is Prime Time to invest in Real Estate

1. All time low interest rates

2. The market is at the bottom of the curve starting to climb up in value (Fast Equity Building)

3. Real Estate is a direct hedge against inflation (expectation of high inflation)

4. The tax advantages of sheltering income through real estate

5. There are great investment properties available