Rick Garcia, Texas Loan Originator

05/18/2023

DFW housing market remains strong. Contact me when you're ready for your home search. As you look to downsize or upsize, as you hire new employees from out of state or across the state, or as jobs require relocating, please let me know how I can help. Let's look at your mortgage options. Yes, you have options. 214-272-2708 [email protected]
HIGHLIGHTS FROM THE ARTICLE:
The Dallas-Fort Worth new home market remains robust as sales climbed again last month and homes stayed on the market longer.
"The market continues to normalize. An increased supply of new homes in DFW has created a more balanced market, which is good for homebuilders and prospective buyers. In DFW, new home listings were lower last month". (Ben Caballero, CEO of HomesUSA.com)
Pending new home sales were higher again last month, climbing to their highest level in more than a year.

Dallas-Fort Worth was the anomaly in falling prices, with average prices increasing in Texas’ other three major housing markets.

05/10/2023

Looking for a new home? Need to downsize or upsize? Is your job requiring you to relocate? Contact me. Let's look at your mortgage options. 214-272-2708 [email protected]
HIGHLIGHTS FROM THE ARTICLE:
A key reason for increased competition for certain homes is because inventory remains extremely tight.
"Bidding wars are coming back but only for what are deemed by buyers as the most desirable homes. (Daryl Fairweather, chief economist at Redfin)
The total number of homes for sale has also declined in the past four weeks, suggesting buyers are snatching up homes faster than they are being replenished by new listings, according to Redfin.

Although the spring 2023 housing market has little resemblance to the frenzied 2021 buying and selling season, there's evidence some markets and types of houses are starting to become more competitive.

01/19/2023

Give me a shout when you're ready to look for your new home. I cover all of Texas. Let's look at your mortgage options. [email protected] 214-272-2708
HIGHLIGHTS FROM THE ARTICLE:
The Lone Star State ranks sixth highest in the nation for new home builds per 1,000 residents, according to data from the U.S. Census Bureau. Top 5:
1) Utah
2) Idaho
3) Florida
4) South Carolina
5) Colorado
“Today, builders are primarily focused on completing and closing housing inventory. That can mean good deals for buyers. Buyers (who were) waiting for more affordable opportunities compared to earlier in 2022 will find that many communities offer compelling house prices today.” (Ted Wilson, principal with Residential Strategies)

Texas has a little over nine new homes being built per 1,000 residents, almost double the United States average of 5.23 new builds per 1,000 residents. In Dallas-Fort Worth, however, builders in the fourth quarter slowed construction by almost 405 compared to a year ago.

01/04/2023

Is work requiring a relocation? Ready to downsize? Need to upsize? Whatever your needs, I can help with your mortgage options. Let's get started. [email protected] 214-272-2708

HIGHLIGHTS FROM THE ARTICLE:
Forecasts for what’s on tap for the 2023 housing market in Dallas-Fort Worth are all over the board.
Existing and new home sales activity will be slower. Home prices will flatten, decline or grow at a much slower pace than they did during the post-pandemic frenzy. And North Texas, which continues to benefit from strong population and job growth, will fare better than most housing markets — although it’s not like the higher interest rates smacking the market nationwide won’t continue to take their toll locally, too.

North Texas, which continues to benefit from strong population and job growth, will fare better than most housing markets.

12/15/2022

False! Contrary to popular belief, not all loans require 20% down. Reach out today to learn how you could buy a home with as little as 3% down. 214-272-2708 [email protected]

12/03/2022

Your dream home isn’t as far away as you think. Call me to see how you can live closer to the path you’ve always wanted to take. 214-272-2708 [email protected]

12/01/2022

Why waste money renting when you can afford to buy? Call me today because you may be able to qualify and put just 3% down. Let's discuss your options! 214-272-2708 [email protected]

11/30/2022

Good news! . . . Depending on how you look at it. If you're looking for a mortgage, give me a shout. Let's look at some options. 214-272-2708 [email protected]
HIGHLIGHTS FROM THE ARTICLE:
DFW moved into buyer territory for the first time since the housing market caught fire in 2020, ending October as the 10th most favorable buyers’ market in the nation. Austin is the only other buyer’s market in Texas right now, ranking 4th most favorable for buyers.
In DFW, the inventory on the market in October was up 48.2% from October 2021. In the Austin market, the inventory was up 70.2% year over year.

DFW moved into buyer territory for the first time since the housing market caught fire in 2020, ending October as the 10th most favorable buyers’ market in the nation. Austin is the only other buyer’s market in Texas right now.

11/18/2022

At Painted Tree, you'll discover thoughtfully-designed new homes with welcoming front porches, designed to bring the unique, remarkable community of Painted Tree to life.

11/17/2022

I can help you with your mortgage needs. Let's look at your options. [email protected] 214-272-2708
HIGHLIGHTS FROM THE ARTICLE:
New and existing home sales have fallen significantly in the latter half of this year due in large part to higher mortgage rates. New and existing home prices have fallen, too, but to a lesser extent.
Inventory is still a factor in DFW home pricing.
"Sharply higher mortgage rates have curbed buyer demand, which typically would drive home prices down as sellers cut prices to make their house more attractive to a shrinking buyer pool. However, the relatively dramatic rate hikes this year have also discouraged homeowners who currently have a low mortgage rate from moving. When homeowners stay put, the supply of homes available for sale doesn’t change, and prices don’t drop sharply — although home sales do." (Kurt Carlton, co-founder and president of Dallas-based New Western)

New and existing home sales have fallen significantly in the latter half of this year due in large part to higher mortgage rates. New and existing home prices have fallen, too, but to a lesser extent.

11/16/2022

A little good news . . . let me help you with your mortgage needs. [email protected] 214-272-2708

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11/03/2022

In 2023, conforming loan limits increase to $715,000. Don't wait until 2023. We have new loan limits available now. Also have Jumbo loans above $715,000. Let's get started. [email protected] 214-272-2708