It’s not always easy to tell how national real estate news pertains to Texans. That’s why we’re providing links to articles from other sources, along with comments to help you put them in perspective.

Two states account for 39% of all U.S. foreclosures in second quarter
Florida and California dominate foreclosure picture
The headline says: Record 1.2 million homes hit by foreclosure (CNNMoney.com - Sept. 5, 2008). The subhead goes on to report that foreclosure rates have doubled and delinquency rates have soared. It pays to read further, though. The article, which uses a report from the Mortgage Bankers Association as its source, quotes the association's president as saying, "The increases in foreclosures in California and Florida overwhelmed improvements in states like Texas, Massachusetts and Maryland." In fact, only eight states had foreclosure rates higher than the national average.

Forbes publishes list of best cities to buy a home
Texas cities take four of the top six spots
In a recent look at the 40 largest U.S. metropolitan areas to determine the best cities for purchasing a home (Best cities to buy a home by Maurna Desmond - Forbes.com - July 14, 2008) four Texas cities popped up in the top six spots. Houston and Austin ranked first and second, while Dallas and San Antonio placed fifth and sixth. The rankings were compiled based on statistics that point to strong real estate markets. The article mentioned Texas's positive business climate as a major factor in creating such favorable real estate conditions.

Housing-stimulus legislation signed by president
What the new bill means for Texans
The passage of the housing-stimulus package has several facets. Will the housing-rescue law help you? by the Associated Press (July 30, 2008) answers questions consumers may have about the legislation's assistance for those having difficulty paying their mortgages. The article only speaks to that part of the legislation, though. The package also includes efforts to increase certain loan limits, provide a tax credit for some first-time homeowners, and create an affordable-housing trust fund. These provisions (explained in more detail in the article House OKs mortgage rescue by Jeanne Sahadi of CNNMoney.com - July 24, 2008) and others will open up homeownership opportunities for many Texans.

The real condition of real estate in the U.S.
Is crisis the right word for what's going on?
Many news reports these days refer to a national real estate crisis. Few challenge that assumption or explore the underlying facts to determine whether a true crisis exists. Dennis Kneale’s commentary on CBS News’ Business Nation (June 27, 2008) provides some perspective to help homeowners better understand the true nature of the current real estate market. In his opinion, the crisis exists only in markets that experienced tremendous price appreciation over the past few years: California, Florida, Nevada, and Arizona.

The future of Fannie Mae and Freddie Mac
How financial difficulties at the GSEs could affect Texans
Talk of financial trouble at Fannie Mae and Freddie Mac has dominated the news. This caused some to speculate about the prospect of a government takeover of the entities (Questions About Fannie and Freddie by David Bogoslaw of BusinessWeek - July 11, 2008 ) and led Federal Reserve Chairman Ben Bernanke to comment regarding the entities’ stability (Bernanke: Fannie and Freddie in ‘no danger of failing’ by the Associated Press). There are many moveable parts yet to settle. Certainly for some buyers, mortgages will not be as easy to obtain as in the past few years. After an adjustment period, the mortgage-lending process likely will be more transparent and provide greater consumer protections to those looking to buy a home.