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» While reluctance from lenders, sellers, and appraisers has become something of a drag on sales and price improvements, Hicks asserts the market's slow growth has kept the country away from another housing bubble. "At the price point of the market we generally service, typically at or below the median price, securing a fair appraisal and financing are typically the major challenges our franchisees face when selling a property," Hicks said. "Since we focus on 'ugly houses' that owners are anxious to sell, we're not as affected by seller reluctance as is the general market. Everything our franchisees have for sale is selling quickly and in fact, the first quarter of the year was one of the best ever." However, Hicks noted that HomeVestor franchisees reported an increase in buyer reluctance for the homes that are being put on the market. Would-be buyers seem especially reluctant in areas where prices have increased significantly, Hick says—largely because they're not certain of the market's stability and want to avoid overpaying. Also worth noting is the current shortage of inventory, which has boosted price points and helped to drive off the sort of speculative buying behavior that could generate a bubble. Even so, low appraisals, tough financing criteria, and buyer and seller reluctance have provided a balancing weight. "Prices have not yet risen at the pace of demand," Hicks observed. "We would have expected prices to rise higher than they actually have." Texas Real Estate Market Off to Strong Start First-quarter data from the Texas Association of Realtors showed the Lone Star State's housing market is off to a good start, pointing to a strong selling season for the summer. A report from the association revealed first-quarter home sales in Texas totaled 53,937, up 17.5 percent from a year earlier. In addition, out of the 48 markets covered, 40 registered increases in sales. According to the report, population and job growth are adding to the demand for Texas homes. Shad Bogany, chairman of the Texas Association of Realtors, says while 2012 was a strong year for Texas real estate, 2013 looks to be even stronger. "We've heard a lot about the growth of Texas and now we're starting to really see the impact on our real estate market," she said. Home prices also improved compared to last year, with the median price for Texas homes up 7 percent to $158,000 in the first quarter. Since reporting began in 2009, the median price for homes in the state has either matched or beat the prior year's price every quarter. "Historically, the median price for Texas homes has increased about four percent each year, and we usually see the biggest jump in price between the first and second quarters," said Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University. "So, with price increases already in the range of seven percent in the first quarter, we could see Texas homes increase in value significantly this year." Gaines, however, warned of inventory constraints on sales. "We'll only realize our potential for increased sales volume if more sellers enter the market and start listing their properties, increasing the inventory of homes for sale," he said. While sales and prices increased, inventory was down. In the first quarter of this year, months' supply stood at 4.2, compared to a 5.9 months' supply the prior year. Butler & Hosch to Acquire Cal-Western Butler & Hosch, P.A., announced it is in the final stages of acquiring the assets of Cal-Western Reconveyance Corporation. With the acquisition, Dallas-based Butler & Hosch will add a West Coast location to its expanding footprint. "We are looking forward to working alongside the wonderful staff members of this great company," said firm partner Bob Hosch. "With this acquisition, Butler & Hosch will be able to provide quality legal representation from Florida to Texas and California." Once the purchase is completed, Ed Hill will join the team at Cal-Western— led by Avis Thomas, Margaret Padilla, Michelle Mierzwa, and Lorrie Womack— to assist with the integration and business operations. Cal-Western is a subsidiary of Prommis and provides non-judicial foreclosure services to mortgage servicers, investors, and law firms in Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Butler & Hosch specializes in the legal needs of the mortgage banking industry, with existing offices in Louisiana, North Carolina, South Carolina, Florida, and Texas. VISIT US ONLINE @ DSNEWS.COM Your best choice It's 24-hour BPO turnaround, same-day occupancy reports, weekly inspections and 47-day average list-to-close. It's experience, speed, professionalism and timeliness, 19 years REO experience and 10 consecutive years achieving the Century 21 Centurion Award It's why Samantha Roper is the person for your RE and REO needs. Serving: San Antonio, Bexar, Comal, and Guadalupe Counties SamanthaInc Roper, Broker Team 21 Asset Mgmt, Better Homes & Gardens RE 3520 N Loop 1604 E San Antonio, TX 78247 210-657-0123 210-657-1123 fax A FULL SERVICE REO AGENT CHERYLMURPHY A non-traditional REALTOR for all your Real Estate needs Served in Tarrant, Parker, Hood, Denton Collin, and Dallas Counties 33 years experience in real estate AWARDS Office Rookie of the Year, Century 21 Judge Fite, Employee of the Year, Orange County, FL Government Texas Property Brokers P O Box 2066 Colleyville, Tx 76182 cheryl@realestate4u2day.com vt ą ć t 817-797-3193 f 800-766-7142 www.realnews4u.com 107

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