Dallas-Fort Worth

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Dallas-Fort Worth is at the top of a list ranking the best cities for science, technology, engineering, and math jobs, the new home market is percolating in DFW, and we find out where North Texas falls in a look at underwater mortgages and home equity, all in this week’s roundup of real estate news.

Dallas-Fort Worth Tops List of Best Cities for STEM Jobs

Dallas-Fort Worth took the top spot nationally in a ranking of best cities for STEM jobs, AEI Housing Center announced last week. (more…)

equityOne of the pieces of good news about rising home values in Dallas is that homeowners could cash out as much as $132 billion (yes, with a “B”) in equity, analysis from lending marketplace Credible.com revealed.

The company’s analysts found that Dallas ranks first in Texas and 10th in the nation for total tappable equity — more than real estate hot spots like Miami, Denver, or Phoenix, thanks to median home values that are up 67 percent from their lowest point in 2012.

For comparison’s sake, Houston clocked in at $96 billion, Austin at $48 billion, and San Antonio was $24 billion.

What is “tappable equity?” Basically, it’s the amount of cash you can pull out of your home while keeping at least a 20 percent ownership stake in the home. Equity, in its simplest terms, is the difference of what your home is valued at compared to what you owe. (more…)

Consumer and credit card debt is at a all-time high, says Bob Johnson (AKA BobMortgage) in the 27th episode of The BobMortgage Zone. But how do you prioritize your financial health? Consumer debt puts stress on more than just finances, it puts strain on relationships and makes for many sleepless nights. Financial health can start to really affect your actual health, too.

So, what are you willing to give up to get out of debt? What other solutions are available? Are you ready to hear what the senior mortgage adviser at the nation’s oldest lender, Wallick & Volk, has to say? Get in the zone with BobMortgage and find out now:


Source: Federal Reserve

Prices are up, property tax assessments are likely up, you’re rich, rich, rich … on paper. According to researchers Black Knight, as of the end of 2017, Americans have $5.4 trillion in “tappable” home equity, an increase of $735 billion from the end of 2016. Tappable means that while total home equity, according to the Federal Reserve, sits at $14.4 trillion, only $5.4 trillion would be available using loan products requiring 20 percent equity remain in the property.

Put in perspective, $5.4 trillion is about 10 percent more than in 2005, before everything went to shit.  But there’s tappable and there’s tappable.  Three quarters of that equity is also held in mortgages with rates lower than current rates. Of the $5.4 trillion, approximately half is held by property owners with at least a credit score of 760 (qualifying for the lower refinance rates).