Home prices in a majority of the markets covered in Zillow’s Home Value Forecast are set to bottom this year — if they haven’t already, according to a new Zillow report.

“From an economic perspective, the latter part of the first quarter is full of positive news as the spring selling season gets underway,” said Stan Humphries, Zillow’s chief economist, in a news release. “While it is unlikely that national home values continue to rise at this rate through the rest of the spring and summer, it is undeniable that we are seeing sparks of life in the housing market.”

Nineteen out of 30 markets in Zillow’s monthly report are expected to hit a bottom, in terms of home prices, at some point in 2012, according to the real-estate website.

The Phoenix, Miami-Ft. Lauderdale and Tampa areas are expected to see significant home-value increases over the next year, with prices in Phoenix expected to rise 6.5%, prices in Miami-Ft. Lauderdale expected to rise by 5.6% and prices in Tampa expected to rise 2.5%, the release said.

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Markets where prices are expected to keep dropping include Atlanta, where prices are expected to fall 4.1% over the year and Chicago, where values are forecast to decline 3.8%.

Overall, U.S. home values rose 0.5% in March, compared with February, according to the report. That’s the largest monthly increase since May 2006, according to Zillow.

The report was released a day after the latest Case-Shiller report, which found that average home prices were at their lowest level in February since late 2002. Read more: U.S. home prices fall to nearly decade low.

Below are the 19 metropolitan areas where Zillow expects prices will hit bottom in 2012:

New York
Los Angeles
Dallas Fort Worth
Philadelphia
Washington, DC
Miami-Fort Lauderdale
Boston
Riverside, Calif.
Phoenix
San Diego
Tampa
St. Louis
Baltimore
Denver
Pittsburgh
Orlando
Las Vegas
San Jose
Virginia Beach, Va.

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How is this for security!!!! We may not be able to find you a home surrounded by water, but there are homes available in FRISCO right now with privacy fences and security systems.

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Purchasing a home is one of the biggest and probably the most expensive purchase that someone will make in their lifetime. You owe it to yourself to work with a professional Realtor and utilize their expertise. Realtors are paid buy the home seller, and in most cases it won’t cost you a thing, that’s a no brainer!!! Here a some answers to the most frequently asked question.

Should I use a Realtor to purchase my brand new home?

The answer is YES you should and here is why….

The builders representative is just that, the builder’s representative. They essentially work for the builder, and they are going to sell what they need to sell first. They will not have your best interest in mind, and will not protect you in the sale of the home. When it comes to the builder’s sales contract, there is no standard, and understanding these can sometimes be tricky. Realtors handle contracts all day, and will be able to interpret these for you.

My friends have told me that not using a Realtor will allow me to purchase the home for less because they will not have to pay the Realtor commission.

All signs are pointing to a real estate housing market recovery in 2012 according to recent reports.  Rising rent rates, decreasing inventory, low mortgage rates, and an increase in jobs offer a glimpse of hope that both the housing market and economy as a whole are heading in the right direction.   Existing and pending home sales reports for October and November 2011 indicate good signs for the new year and a positive U.S. Economic Outlook for 2012.  According to NAR, pending homes sales rose again in November 2011 7.3% over October and 5.9% over November 2010.  The November pending home sales increase reached the highest level in 19 months, due in part to affordability conditions including low interest rates.  Pending homes sales are expected to continue in 2012.  Pending Home Sales Rise in November

According to NAR, the possibility of an economic recession is looking less likely and a housing recovery is on the way.  Despite external market variables, including the Eurozone, the U.S. housing market is showing strong signs of recovery.  The latest pending homes sales index which reflects contract signings to purchase a home, rose more than 10% in October 2011 from the previous month and more than 9% from one year ago.  There are still housing obstacles to overcome such as tight lending and high inventory issues, but banks are starting to loan and inventory is showing a consistent downward trend.  The total number of homes listed for sale at the end of October was 3.3 million, down from 4.5 million in the middle of 2008.  The month of October registered the lowest housing inventory  since 2005.   Good Signs for the 2012 Housing Market

Existing Home Sales increased in November 2011 and are expected to climb throughout 2012 according to NAR.  Recent home sales data reports completed transactions, including single family, condominiums, and townhomes increased 4% to a seasonally annually adjusted rate of 4.42 milliion n November 2011 from 4.25 million in October, which is 12.2 percent above the 3.94 million pace in November 2010.  Lawerence Yun, NAR chief economist, attributes the recent gain to people taking advantage of the buyer’s market and record low interest rates.  Sales reached the highest mark in 10 months close to 34% above the cyclical low point in mid 2010.  Lawrence Yun summarized current market conditions by saying, “A genuine sustained sales recovery appears to be developing”.  Existing Home Sales Conintue to Climb in November

Another positive indicator of the increase in real estate market activity is online home searches.  Realtor.com recently published results on the 10 most searched real estate markets online.  The Dallas real estate market ranked #9 with a median home price of $194,900.

10 top-searched metro areas from November 2011 by Realtor.com:

1. Chicago – Median list price: $192,900
2. Detroit, Mich. – Median list price: $84,900
3. Los Angeles-Long Beach, Calif. – Median list price: $329,000
4. Phoenix-Mesa, Ariz. – Median list price: $164,700
5. Atlanta – Median list price: $156,900
6. Philadelphia, Pa.-N.J. – Median list price: $229,900
7. Tampa-St. Petersburg-Clearwater, Fla.  – Median list price: $144,200
8. Las Vegas – Median list price: $122,000
9. Dallas – Median list price: $194,900
10. Riverside-San Bernardino, Calif.   – Median list price: $199,000

Located in the Dallas area, Lantana is one of the top selling new communities in North Texas. These custom homes are masterfully planned to bring families together, Lantana’s quality lifestyle surpasses any other. A blend of neighborhoods appeal to first new home buyers as well as luxury home buyers offering families a chance to enjoy Hill Country Living in the Dallas area. Lantana’s exceptional community amenities include hiking trails, swimming pools, tennis, fitness centers and an award-winning golf course.

Located near Flower Mound, just 15 minutes from DFW Airport, Lantana is convenient to work centers from Dallas to Denton. Looking for a new home for sale in North Texas? Lantana is the perfect place to call home….

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Ready to get your search started….Contact us 469-443-8151 or Email Me Now