Phil Amodeo, Mansfield, TX, Realtor

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Fall, 2010 Real Estate Report Real estate expert Phil Amodeo (pronounced Om-O-Day'-O) reports that the North Texas real estate market is one of the healthiest in the nation. Nationally, home prices increased in the second quarter in 17 of the 20 largest markets, with San Diego, San Francisco and Minneapolis leading the way. The national home price index rose 4.4%, similar to prices in the fall of 2003. National average prices hit a high point in June of 2006, falling to their lowest in the first quarter of 2009. Prices were up 12% in Mansfield in August, although sales have slowed since the expiration of the 00 tax credit last spring. Home prices vary in Arlington, from flat to down 15-20%, with actual sales down around 10%. The inventory of unsold home has leveled off, and foreclosure postings in the area are down nearly 20% from a year ago, another good sign that the local housing market is stabilizing. Contributing to the strong showing here is the fact that Texas continues to lead the nation in business development, with jobs being added each month and unemployment significantly below the national average. Interest rates remain at record lows, and home prices are very reasonable, putting home affordability at the highest point in recent memory. Mansfield and Arlington offer great neighborhoods and schools, abundant recreational facilities, entertainment and shopping, and world class professional sports franchises, and business centers located in the Dallas-Fort ...

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