And the Good News Is...

November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Flower Mound, TX

Latitude: 33.031741 -- Longitude: -97.078818

Other Area Cities: Plano Flower Mound Carrollton Denton Southlake Coppell Bartonville Double Oak Highland Village Lewisville Roanoke Westlake Grapevine Keller Colleyville

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Flower Mound is a city in Denton County, Texas (USA). As of the 2000 census, the city population was 50,702, although more recent studies show the numbers to be closer to 70,000. The name comes from a large mound located in the southern portion of the city. Though surrounded by commercial and residential development, the mound, believed to be a Native American burial ground, is privately owned so as to be protected from further development. Flower Mound has a small-town vibe with easy access to Dallas/Fort Worth International Airport and the Dallas/Fort Worth Metroplex. It refuses to be referred to as a "city" despite its recent growth; it bills itself as the "Town of Flower Mound" with a "Town Hall" and a "Town Council". The city is home to the headquarters of Time Warner Cable's South/Southwest Division (Texas, Louisiana, Mississippi, Alabama, Tennessee, Georgia, South Carolina, and Florida) which employs over 1,400 people and provides services to over 530,000. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Flower Mound	Texas	United States
Population	50,702	20,851,820	281,421,906
Median age	33.3	32.3	35.3
Median age for Male	33.4	31.3	34
Median age for Female	33.2	33.4	36.5
Households	16,179	7,393,354	105,480,101
Household population	50,490	20,290,711	273,643,273
Average household size	3.12	2.74	2.59
Families	14,262	5,247,794	71,787,347
Average family size	3.34	3.28	3.14
Housing units	16,833	8,157,575	115,904,641
Occupied units	16,179	7,393,354	105,480,101
Vacant units	654	764,221	10,424,540

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