SOURCE: Wynn Real Estate Brokerage

March 04, 2008 16:19 ET

Richard Beauchamp, Founder of Wynn Real Estate Brokerage in Dallas, Says, "It's Great to Be in Real Estate in DFW"

DALLAS, TX--(Marketwire - March 4, 2008) - Wynn Real Estate Brokerage, a leading REALTOR™ serving the Dallas/Fort Worth Metroplex, announced today that founder Richard Beauchamp has become an outspoken advocate of being in real estate in DFW.

"While newspapers and TV continue to report ever increasing bleak news for the real estate industry, a recent CNN Money article listed DFW as one of the top cities in the U.S. that is best prepared to bounce back," Beauchamp said. "The market here never really left, and we are faring far better than most other cities our size."

He added that one might make a case for the fact that the DFW market never really got hit like so many others, as it coasted along over the past few years at an overall statewide appreciation rate of around 3.7%. Dallas has and continues to completely avoid the "boom-bust" cycle.

Beauchamp believes the recent report by Texas A&M citing the 16% drop in existing DFW home sales is not a "downturn" but rather a "correction" in the market. He feels there are a lot of people that got into homes that they were not financially qualified for and did so with no money down or with artificially low adjustable mortgage rates. Now they cannot afford them and they have created this "meltdown."

"If you go back three to five years and read media accounts of the real estate market you will find stories about the 'boom' in real estate," Beauchamp said. "Headlines said sales were up 15% to 20%... hello... these are the buyers now in trouble."

So in the midst of this why is DFW so hot? Job growth! DFW is adding jobs at twice the national rate, and these are higher paying jobs. The jobs are also across multiple industries including -- high-technology, manufacturing, distribution/logistics, banking, advertising, and health care. DFW is dead center in what is termed the I-35 "Metropolitan" which projects 2.8 million new housing units over the next two decades to accommodate population growth to include 6.4 million new North Texans.

ABOUT WYNN REAL ESTATE BROKERAGE

Wynn Real Estate Brokerage is a leading Dallas/Fort Worth firm that has distinguished itself by providing a superior level of service to its clients, Associates and partners. The company was founded by Richard Beauchamp and has a highly experienced team devoted to obtaining exceptional results for its clients. To learn more about Wynn Realtors, visit www.WynnRealtors.com.

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