If the tree died this spring, it may be still good. I don't know where you are, but if it has been rainy and humid, the quality of the wood can degrade pretty fast, because of fungus and/or bugs. Fresh dogwood is the color of ivory, but if it has been seasoned outdoors, the wood turns to a more light brown color. I have only used fresh dogwood, that I split and dried indoors. It's really nice to work with if the wood is straight and clean. It has a density similar to hornbeam/ironwood/muscle wood. If you cut this tree, I recommend removing all of the bark right away (if you are going to make bows). If there are any bugs they may be in the bark,hiding, so you want to not bring them along.