The outlook for Dallas home prices was brighter in two indexes released in August, according to Dallasnews.com.

They were down 2.2 percent in June from a year earlier but rose 2.7 percent from May to June to the highest level since last September, according to the closely watched Standard & Poor's/Case-Shiller Index. It was the fourth consecutive month of gains in the Dallas index price, S&P said.

And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.

The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.

Source: DallasNews.com 

According to the latest Zillow Real Estate Market Reports, home values in Burleson increased 5.1% in the second quarter of 2009, compared to the second quarter of 2008.  Nationally, home values decreased 12.1% during this same period

In July the state's housing agency announced that it has a way – two ways, actually – for Texans to monetize the $8,000 federal tax credit for first-time buyers.

The Texas Department of Housing and Community Affairs (TDHCA) released $7.5 million through two separate second-lien mortgage programs to help qualifying first-time homebuyers take advantage of the federal homebuyer tax incentive. The state programs offer short-term loans until homebuyers file and receive their federal tax credit. The loans offered through TDHCA can be used for downpayment and/or closing costs, and the federal tax credit payment can be used to repay them.

However, buyers must close on the home purchase no later than Dec. 1, 2009. For more information, visit MyFirstTexasHome.com. With the current pace of the market, prospective buyers should get pre-qualified and begin looking at property immediately in order to close in time to receive the $8,000 credit. Call me to talk about how this credit can help you or loved ones begin enjoying the lifestyle and tax benefits of homeownership this year.

Source: Texas Association of Realtors

Dave Buske
RE/MAX Associates 1
Email: Dave@DaveBuske.com
Phone: 817-980-9436
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