The Bains

after 6 straight months of decline according to the National Association of Realtors. Sales
of existing homes rose by 2.9% in February or the biggest increase in a year. The median
sales price fell to $195,000. This is the largest year-over-year drop since 1999. The
surge in the South was 2.1% with the Northeast at 11.3%. The only region to decline was
the West.
Watch what mortgage lenders are doing. They have glagged more than 9,600 ZIP codes in
34 states. This means certain types of loans will not be financed or are more riskier, meaning
a HIGHER INTEREST RATE & HIGHER CREDIT SCORES. Entire states on the list are California,
Florida, Arizona, Michigan, Ohio & Nevada. Generally these are in markets where home prices
are falling, BUT even regions where property values are rising are NOT IMMUNE. Check with
your lender before you get a loan OR refinance.

2,435 residential units closed & average price $171,946 in 2006.
2,370 residential units closed & average price $170,119 in 2007.
Commercial slightly higher as are commercial remodels with average price per sq ft LESS.

According to Dr. Mark Dotsuz, Texas A&M Real Estate Center, prices have slightly increased
in most metro areas, with foreclosure rates are much lower than the national trends.
Inventory in Texas is 5.7 months, compared to national average of 10.1 months. However,
it is noted by the Office of Federal Housing Eenterprise Oversight that price INCREASES in
most Texas metro areas to be GETTING SMALLER.

Go to our website at www.thebains.com and in the center of the page click on the
links & the top one takes you to our Realtor.com list of listings, click on any you want to
view, then go the the top menu bar & CLICK ON THE BLUE TAB to search all listings in our area. Call us at 903-561-4346 for any information you need.

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