Don't be fooled by national "bad" real estate market news

Corinth, TX - Don't be fooled by the national real estate market news! Residential Real Estate Market in Corinth, TX - a small suburbian town, located just south of Denton, TX and about 40 miles north of Dallas, TX - is robust! Median For Sale vs. Median Sold graph is a proof of it. These are the latest data taken from NTREIS - North Texas Real Estate Information System also known as NT MLS. Look at the graph - the spread between the red and green columns is shrinking. This simply means that while the median price of homes for sale in Corinth, TX may have stayed the same relative to last year (these data cover 12 months period) the SOLD homes in Corinth, TX show the increase of median price of homes sold in Corinth, TX by 16%! Whether it is a direct result of Federal Tax Credit or a combination of factors (recovering economy, great schools - Hawk Elementary, Crownover Middle, Guyer High to name a few) remains to be seen. If you are in the market to buy a home in Corinth, TX - be aware that homes for sale in Corinth, TX that are priced at or bellow the market value and in superb condition will not be there for you later in the summer. Corinth, TX home owners, on the other hand should also know the stats and data to make their decision on pricing and preparing the property for sale. Once you realize that the open real estate market drives the prices, get your home in excellent condition (the buyers make their decisions in the first 8 seconds of being in the home) you will sell your home and move on to better, bigger (or smaller :-) things in life!

22 homes in Corinth are scheduled for Foreclosure Next Month

The foreclosure forecasters predict a new wave of foreclosures in the coming months and years. I am looking at new data for February 2010 concerning Corinth TX foreclosure announcments. It appears that 22 homes are about to be foreclosed. Some of them will not get to that stage due to realtors working short sales with banks. However, looking at numbers it appears that current homeowners will be faced with a competition from lower priced homes sold by banks. With 112 Active Status Homes for sale it makes it over 20% of homes offered for sale in Corinth are to be foreclosed properties. Also, note that during past Christmas holidays many banks actually delayed their evictions and we should expect early months of the year to expose more REO properties than in November/December of last year. If you are a buyer - this is your time! If you must sell - I would not recommend to wait to see if market gets better. With a tax credit extended till April 2010 sellers will have more buyers to come trhu their doors now rather than after April 30th. In fact, this means closer till March 30th, because the transaction must close on or before April 30th (I need to verify this!). Here is a current graph pulled from MLS to show you FOR SALE (in red) vs SOLD (in green) properties in Corinth, TX per month since December 2007.

$8,000 Tax Credit for First time Home Buyers

If you are a first home buyer (have not owned a home in the last 3 years) act now to benefit from $8,000 Tax Credit available for home purchases before December 1, 2009.

Points to remember:

- you qualify if your income is $75,000 or less (single) $150,000 (married)
- you might qualify for partial credit if your income exceed the above amounts
- purchase must be made before December 1, 2009 (actual closing so you need to allow your self at least 45 days from the date of contract agreement pushing the date to November 15 - also remember holidays!)
- tax is 100% reduction in what taxpayer owes and not required to be returned in the future
- tax is supposed to be easy to file

FOR MORE INFO GO TO THIS LINK