Signs Your Housing Market is on the Decline - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Signs Your Housing Market is on the Decline

Amarillo again is going against national trends when it comes to the housing market.. But one expert says that doesn't mean you should let down your guard when it comes to your home.

For the first time home equity has dropped below 50 percent of what is owed on the home. While Amarillo has not been hit this hard... Experts say it could be coming and you need to keep tabs on how things are going.

Wayne Holden with Amarillo Mortgages says, "If we start seeing a decline in the demand, and houses continue to stay on the market longer before they sell and sellers have to make concessions, come down on their price, offer to pay closing cost, things of that nature, those could all be signals that the markets getting tighter."

Holder says you can not control the market... But you can do one simple thing to ensure your equity stays intact.

"Your best protection is to keep your payments on time."

Holder also recommends making extra payments on your home when you can. This helps pay off the principle and add to your equity faster.

  • Today's Local News HeadlinesToday's Local NewsMore>>

  • Crews on scene at 3 grassfires, no evacuations in place

    Crews on scene at 3 grassfires, no evacuations in place

    Sunday, February 18 2018 2:47 PM EST2018-02-18 19:47:19 GMT
    Source: KFDA NewsChannel 10Source: KFDA NewsChannel 10

    Crews are currently on the scene of two grassfires east of Fritch and near Amarillo. 

    Crews are currently on the scene of two grassfires east of Fritch and near Amarillo. 

  • 1 dead, another injured in early morning hit-and-run

    1 dead, another injured in early morning hit-and-run

    Sunday, February 18 2018 10:46 AM EST2018-02-18 15:46:57 GMT
    Source: KFDASource: KFDA

    One person is dead and another is in critical condition after being struck by a vehicle early Sunday morning. Around 1:50 a.m., Amarillo Police officers were called to the 2600 block of East Amarillo Blvd. on a motor vehicle striking two pedestrians and then fleeing the scene. Lucila Trevino, 58 from Friona, was pronounced dead at the scene. Jose Grado, 43 from Friona, was transported to an area hospital with life-threatening injuries. Police have no description of the suspect veh...

    One person is dead and another is in critical condition after being struck by a vehicle early Sunday morning. Around 1:50 a.m., Amarillo Police officers were called to the 2600 block of East Amarillo Blvd. on a motor vehicle striking two pedestrians and then fleeing the scene. Lucila Trevino, 58 from Friona, was pronounced dead at the scene. Jose Grado, 43 from Friona, was transported to an area hospital with life-threatening injuries. Police have no description of the suspect veh...

  • Semi rollover causes traffic diversion on I-27

    Semi rollover causes traffic diversion on I-27

    Saturday, February 17 2018 10:46 PM EST2018-02-18 03:46:00 GMT
    Source: KFDASource: KFDA

    Amarillo police and medical personnel are responding to a semi truck rollover on Interstate 27. 

    Amarillo police and medical personnel are responding to a semi truck rollover on Interstate 27. 

Powered by Frankly