Market reports limited to smaller communities are incredibly valuable since they can be used to directly compare key metrics to those of surrounding neighborhoods.
Dallas, Texas (PRWEB) October 29, 2013
Dallas real estate agent, John Jones, has published an in depth market report describing details of the real estate landscape for the area of east Dallas known as Lochwood.
Located near White Rock Lake, just south of Lake Highlands, Lochwood is a largely residential area which is known by Dallas residents for its abundant mature trees, large wooded areas, popular hiking trails, and its proximity to White Rock Lake - often considered the recreational focal point of east Dallas.
The Lochwood market report covers the 12 month period ending in the third quarter of 2013. The report compares the current 12 month period to the same ranges in 2012 and 2011 to provide a snapshot of the market direction and trends.
"Real estate markets can be very capricious, and fluctuate wildly depending on a wide variety of factors such as interest rates, taxes, government subsidies, oil prices, and general overall health of the economy," explains Jones. "It's often misleading to go back too far to make market comparisons. Housing metrics from the 2008 recession period, for example, will not be very useful to homebuyers trying to gain insight into the market today."
The current report indicates an overall healthy market with a narrowing gap between asking and closing prices of homes and a gradual increase in property value. Homes in Lochwood are also showing a significant decrease in the average number of days that a home stays on the market, going from 86 days in the previous twelve months, to a very remarkable 31 days as of September 2013.
Real estate market reports such as this can be vital tools to help both real estate agents and their clients during the home buying process. Professionals who are relocating to Dallas due to their jobs also find reports such as this one invaluable to help get an overview of an unfamiliar market at a time when they may not be able to perform thorough research themselves.
"Market reports limited to smaller communities are incredibly valuable since they can be used to directly compare key metrics to those of surrounding neighborhoods," explains Jones, who specializes in east Dallas home sales. "The health of an individual neighborhood and the nuances of its housing market are not always well reflected in a broad report covering a larger region."
The report is freely available for download at http://www.homesourcedallas.com
About John Jones
John Jones is a Dallas real estate agent specializing in homes sales in the east Dallas area. He has over 15 years experience in the local real estate market that includes expertise as a real estate agent, mortgage banking and brokering, and forensic financial analysis. Mr. Jones' knowledge of the mortgage side of property sales combined with his understanding of the DFW metroplex real estate market help him to provide his clients with distinct advantages when purchasing a home and overcoming many of the hidden complexities in the financing process. A Dallas native of over 30 years, Mr. Jones is actively involved in community outreach projects such as neighborhood clean up and restoration, and home building volunteer work for underprivileged families.