Sellers and Buyers make their opinions known

Welcome to The Pescatore/Avrit Team blog. After reading the Dallas Morning News report about the top picks for Buyers and Sellers in the DFW market, we felt that it would be exciting to share the results with you, the bloggee!

A new consumer curvey asked buyers and sellers to rank national residential sales companies and guess who came out on top?? Okay, Keller Williams and Coldwell Banker!!

J.D.Power measured customer satisfaction by asking about experiences with individual agents, the company's office, and additional services provided. They found that the agent is still the most important driver of overall satisfaction. (We coulda told you that!)

The research also showed that more than half of homebuyers are now first timers. The government tax incentives have been doing their job. That is encouraging news for the market and indicates that the market is returning to more normal activity, with fewer spectators.

Anyway, the survey used a 1000-point scale and heres how we faired:

Coldwell Banker   815
Keller Williams     801 (whoohoo!)
Re/max                   784
Century 21            770
Prudential             753

Remember, if your in need of real estate services, Call us, the Pescatore/Avrit Team and we will provide you with stellar service!

Changes to the Tax Credit

Good Afternoon! Greetings from The Pescatore/Avrit Team! As many of you have probably heard, the government has chosen to extend the Homebuyers Tax Credit. YAY! However, the dynamics of the new tax credit extension has changed somewhat. Here is we have been told about it…call us if you have any questions…



1) The tax credit is is now available to move-up buyers as well as 1st time home buyers.


2) Now extended to homes purchased after November 6, 2009 and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010 will qualify for the tax credit provided closing occurs prior to July 1, 2010.


3)  Refundable tax credit of up to $8,000 for first-time buyers (must not have owned a home within the last three years)

4)  Move-up buyers who have owned and lived in the same home for at least five of the last eight years are eligible for a tax credit of up to $6,500


5)  The maximum income to qualify for the tax credit has been increased to $225,000 for married couples filing a joint return and $125,000 for those who file single or head of household. Married couples who earn between $225,000 and $245,000 or single / head of household taxpayers who earn between $125,000 and $145,000 are eligible to receive a partial tax credit. The credit is not available to taxpayers who earn more than these income limits.

6)  For military homebuyers serving on qualified official extended duty service outside the U.S. for at least 90 days after December 31, 2008 and before May 1, 2010, the deadline for the tax credit is extended an additional year (through May 1, 2011)

7) To qualify for the tax credit, the purchase price must be less than $800,000. All homes qualify including newly constructed or re-sale and single family detached, townhomes or condominiums. However, the home must be used as the customers primary residence as second homes and investment properties do not qualify.

8) All U.S. citizens who file taxes are eligible to participate in the program.


9) The tax credit is a true credit and does not have to be re-paid unless the customer sells or stops using the home as their primary residence within 3 years after the purchase.



As you can see, this is great news! Remember, if you need to buy or sell a home, now is as good as time as any. Mortgage rates are still low, new loans are coming back available, and housing prices arent going to get much lower in our area! Consider calling The Pescatore/Avrit Team to find out more information about how you can take advantage of this great opportunity!

Dallas Ranks among the top 10 recession resistant cities!

Dallas ranks fifth among the top cities that are considered "recession-resistant" compared to many other cities in the United States.

Despite a global economic downturn, Texas paves the way alongside Oklahoma with several cities that are more likely to emerge from the economic downturn first according to a recent study by the Brookings Institution.

While the economy appears steady for Texas cities, the report does mention that even though Texas cities have managed to stay ahead of most hard hit recession cities, Texas based cities have not yet returned to a pre-recession state of employemnt or output.

TOP 10 Recession-Resistant cities:

1. San Antonio, TX

2. Oklahoma City, OK

3. Austin, TX

4. Houston, TX

5. Dallas, TX

6. McAllen, TX

7. Little Rock, AR

8. Baton Rouge, LA

9. Tulsa, OK

                                                      10. Omaha, NB

It is an encouraging report!! Keep in mind that our sales prices havent been hit nearly as hard as the rest of the country either. If your considering selling or buying a home, we would love to earn your business!!

Regards,

The Pescatore/Avrit Team

The State Fair of Texas is here!

The Pescatore/Avrit Team here! Yay! Big Tex is back and its that time of year again!

Have you checked out the new website??

http://www.bigtex.com/  Everything that you need to know about the Fair....maps, schedules, tickets...its all there! Best of all, you can now ride the GREEN LINE (DART line) to the front door of the Fair...perfect! Now you can eat all the corny dogs and fried concoctions that you want and not worry about driving "full" =D

On another note, did you know that alot of businesses slow down during the month that the Fair is here? Maybe its the combination of cooler weather and childhood memories, but sales have always trended down during this month! Well, The Pescator/Avrit Team is still selling strong , but, we might take ONE day to go to the Fair....after all, Its been a year since we saw our endearing BIG TEX! See ya at the fair!

And remember, The Pescatore/Avrit Team is here for all your real estate needs!

Reba Tickets are on sale!

The Pescatore/Avrit Team is excited to let everyone know that tickets for The Reba McEntire concert are now on sale! Reba will be the first performer and part of the Grand Opening night at the Allen Event Center in Allen, Texas. For more information about the Center, visit their website at:

http://www.alleneventcenter.com/

The Concert and Grand Opening are planned for Friday, November 6th, 2009 at 7:30pm.

Tickets can be purchased online at gettix.net or by calling (866) 443-8849 or at the Allen Event Center Box Office in The Grove at the Village at Allen 190 Stacy Road.


Remember, The Pescatore/Avrit Team have been residents of Allen for over 25 years and would count is a great honor to help you in any of your real estate needs. See you at the concert!!

The New Allen Event Center

If you were ever wondering if Allen was a city that you may want to move to, let the Pescatore/Arit Team give you another reason why Allen is a great choice for you and your family..... The Allen Event Center!! The Pescatore/Avrit Team would like to let you know that they have heard that there will be a JOB FAIR starting tomorrow, Friday the 11th and going until Saturday, September 12th. Over 200 job openings available. Here is the following information and link to read more!

And Remember, please do not hesistate to call the Pescatore/Avrit Team at 972.733.5089 with any of your real estate needs!


Allen Event Center Job Fair
AMAZING OPPORTUNITY FOR EMPLOYMENT!!!
ALLEN EVENT CENTER WILL HOST A JOB FAIR WITH 200 POSITIONS RANGING FROM USHERS, TICKET TAKING, AND SECURITY, TO COACHING AND MANAGEMENT WHAT: The City of Allen’s newest sports and entertainment venue, the Allen Event Center, will host a job fair in ...preparation for its November 2009 grand opening. The job fair will take place Friday, Sept. 11 and Saturday, Sept. 12 at the Hilton Garden Inn in Allen. More than 200 positions are available in a variety of departments including: Box Office Sellers, Stand Supervisors, Concession Workers, Warehouse Runners, Warehouse Manager, Cooks, Dishwashers, Suite Level Supervisor, Club Supervisor, Suite Attendants, Loge Servers, Food Runners, Bartenders, Head Cashier, Cashiers, Merchandise Sellers, Audio/Visual Positions, Event Conversion Crew, Electrician, HVAC, Maintenance, Production, PBX Operator, Premium Seat Coordinator, Housekeeping, Security , Guest Services, Ushers, Ticket Takers, Game Operations, Head Figure Skating Coach, Head Hockey Coach, Figure Skating Coach, Hockey Coach, House League Coach, Off Ice Training Specialist, Customer Service Representative, Ice Technician, Equipment Sales, Skate Sharpen and Repair Staff, DJ and Entertainment Coordinator, Birthday Party Hostess, and more… *Job fair attendees should come dressed professionally and be prepared to do on-site interviews. For a complete list of available positions, visit www.alleneventcenter.com. WHO: Doug Waugh, General Manager, Allen Event Center Kristen Keeler, Human Resource Manager, Global Entertainment WHEN: Friday, Sept. 11: 4 p.m. – 8 p.m. Saturday, Sept 12: 9 a.m. – 5p.m. WHERE: Hilton Garden Inn in Allen 705 Central Expressway South Allen, Texas 75013 *From U.S. 75, take Bethany Drive exit BACKGROUND: The $52.6 million Allen Event Center is a joint venture between Global Entertainment Corp., the City of Allen, and The MGHerring Group. Upon its grand opening in November, the event center will feature 6,135 fixed seats (with capacity for 8,100 seats), 24 suites, 5 hospitality suites, and two ice rinks. The Allen Event Center will host approximately 100+ events each year, including concerts, top touring shows, family entertainment and professional sports and is home to the Allen Americans Central Hockey League team. The event center, which broke ground in July 2008, is located within The Village at Allen at U.S. 75 and Stacy Road in Allen, Texas.

JOB FAIR CONTACT: For questions regarding the job fair, the public may contact Sheila Alexander at salexander@globalentertainment2000.com or 972-678-4646 MEDIA CONTACT: Flo Torres, Events and Marketing, ftorres@globalentertainment2000.com or 972-678-4646
Time:9:00AM Saturday, September 12th
Location:Hilton Garden Inn in Allen

Here is the link to their Facebook page:

http://www.facebook.com/pages/Allen-TX/Allen-Event-Center/89893554201#/pages/Allen-TX/Allen-Event-Center/89893554201?ref=mf

AND.....This is taken from the Allen website.....
In July of 2008, construction of the Allen Event Center began along the southeast corner of US 75 and Stacy Road inside the Village at Allen shopping district. Upon its completion in late 2009, the venue will total 188,000 square feet with capacity for 8,600 seats (6,275 fixed), 26 suites and two ice rinks. The project is among the first in the Collin County area in that marks a joint venture between Global Entertainment Corporation, The MGHerring Group and the City of Allen. The center will serve home to concerts, trade shows, professional sporting events, festivals, community ceremonies and a Central Hockey League (CHL) franchise.


Global Entertainment Corporation is an integrated events and entertainment company. Through its wholly owned subsidiaries, it is involved in sports management and the development of multi-purpose Event Centers and related real estate entertainment districts. Other GEC subsidiaries include International Coliseums Company, Global Entertainment Marketing Systems, Global Entertainment Ticketing and Encore Facility Management

The center is choosing to have Reba be the first performer on November 6th, 2009 as their way of starting off with a big bang! They will be hosting several other events including Styx and Motorcycle Ice Racing. Check out more about events at

www.alleneventcenter.net

We look forward to hearing from you!!

Pescatore/Avrit Team

Dallas-Fort Worth homes will hold their values

In an article in Thursday October 30th's Dallas Morning News by columnist Steve Brown he reports on the findings by the Center for Economic and Policy Research and the National Low Income Housing Coalition that their analysis of the 100 largest U.S. home markets shows that Dallas-Fort Worth homebuyers are more likely to preserve home equity during the next four years.
Houston, D-FW and San Antonio are among the top areas in the country in this forecast.
The study is based on purchases of homes priced at 75 percent of the median price, which is about $150,000 in D-FW. The home purchase is financed at between 6 and 8 percent interest.
By 2012, the purchaser of a midprice home in Houston, D-FW and San Antonio will have, on average, more than $80,000 in equity in the house, the researchers predict.
Equity is the difference in what an owner owes on a house and what it's worth at sale.

While such forecasts are often academic, the trend toward higher home equity here is important. The forecasts for almost a third of the metropolitan areas in the report are for net declines in home equity during the same period.
The study concludes that home prices in "many communities have yet to hit bottom, and significant price declines must be reckoned with."
The downside is worst in regions of the country that saw big run-ups in home prices before the current decline.
The researchers warn that it would be a mistake for governments to try to stop the current housing market correction and "maintain what are historically unprecedented high home prices."
The outlook for Texas isn't a surprise to Mark Dotzour, top economist with Texas A&M University's Real Estate Center.
"It confirms that there never was a price bubble in any Texas city, and consequently the likelihood of equity increase is higher," Dr. Dotzour said. "I find it interesting that their policy decision is to recommend that government allow prices to continue to fall."
Median pre-owned home prices have fallen by between 2 percent and 3 percent in North Texas since peaking in mid-2007.
During the last year, nationwide home sales prices have dropped by more than 15 percent.

WHERE'S THE EQUITY?
Forecast of average home equity a buyer of a home priced at 75 percent of the median price could see during the next four years. From a comparison of 100 largest U.S. housing markets.
GREATEST INCREASES
McAllen -$90,795
Houston -$82,735
DFW- $81,338
San Antonio - $81,308
Rochester, N.Y. - $78,947
SHARPEST DECLINES
San Jose -$328,394
San Francisco -$226,489
Los Angeles -$168,069
Bridgeport, Conn. -$164,671
Oxnard, Calif. -$148,076
SOURCE: Center for Economic and Policy Research and the National Low Income Housing Coalition