There has been great buzz this month regarding 20 new town homes being built near Montgomery Plaza. The company Centex purchased the land across the street, to the west of Montgomery Plaza. Now, word has been spreading that City Homes, a division of Centex, is designing a 20 unit town home development entitled
Archive for November, 2007
20 New Town Homes near Montgomery Plaza in Fort Worth
Friday, November 23rd, 2007It Seems That Commercial Real Estate is the Flip Side
Wednesday, November 21st, 2007It was announced in a national real estate meeting, held in Las Vegas, last week that commercial real estate, for the meantime, is the new flip side for the residential market. It seems that while the housing sector is suffering across the country commercial real estate is thriving in several different areas.
One of the areas, in which commercial real estate is thriving, in Dallas, Texas. Dallas commercial real estate is increasingly in demand. One of the main reasons for this is the strong economy in this North Texas area. Now, several economists are predicting the commercial real estate sector to follow in the foot steps of the residential sector.
This is because the commercial sector usually follows the same path as the national economy. There may be a slight halt in commercial building. Still though, the commercial real estate sector is going strong. There are plenty of new designs for Dallas office space, retail space and industrial space. As long as the economy stays strong in that area, this should continue to create a demand for commercial real estate.
The Dallas, Austin and Phoenix areas are fairing better then other cities nationwide. The rise in commercial real estate is because, the commercial market survives on different factors then the residential market. Mr. Yun, an economist said,
Discussions of Fort Worth Development
Tuesday, November 20th, 2007There have been recent discussions of a Fine Line Diversified Development, in Fort Worth, that has caused the hunt for a developer or a buyer for the land. The land is close to three-hundred acres of premier Fort Worth commercial real estate property. The land is situated conveniently alongside the popular Texas Motor Speedway.
It is predicted that if the price is right, then the mineral rights could be part of the deal. Ed Bass, acquired the Fine Line commercial site, in February. The previous owner was the master developer Frank W. Harrison III. The land is at a perfect location, right along Texas 114 and Interstate 35W. This means that any business that is constructed on the commercial site will be in a prime location for visibility and foot traffic.
The build-out potential of the Fine Line Fort Worth commercial real estate is one and a half million square feet of retail space. Development on the site could add eight-hundred thousand square feet of Fort Worth office space and high-density residential properties. There is an estimated five million dollar development plan that would make use of the area efficiently.
William Boecker, president of Fine Line said,
The Four Major Metros of Dallas Finish Year on Upswing
Monday, November 19th, 2007It is predicted that the multifamily market in the four major metro areas of Texas will end the year on an upswing. In fact, experts predict that the upswing will continue into 2008, meaning balanced economic planes. If the experts are right on target, as usual, this means that there are no dark clouds in sight for Texas. Currently, there are no recession indicators or threats to the subprime Texas market.
Recently meeting at the Adams Mark Hotel in Dallas, developers, investors, brokers and lenders came together for the M/PF YieldStar Texas Apartment Markets Conference. The event attracted a record number of industry people. Many of the real estate professionals talked about how there is a current boom in the house market that is starting to reverse, essentially causing a boom in the apartment market.
This is good news for residential Dallas realtors that are experienced in selling lofts, apartments, and town homes. Nonetheless, Dallas homes for sale are not predicted to drop in the near future. In fact, Dallas sells on average twice the amount of residential properties then other popular cities in the country.
It is believed that Texas will escape from most of the subprime woes, such as foreclosures. This is because there will be a number of investors to pick up the agency capital and the slack. Since thousands of investors are flocking to the city, this is a prime time to invest in Dallas commercial real estate. The industry meeting concluded that the Dallas real estate market is still in full swing and will continue to grow well into upcoming years.
Merger Talk of Predium is Dismissed
Sunday, November 18th, 2007Recently, there were rumors about a merger with the firm Predium, located in the city of Dallas. It was announced though, that the firm has brought in a partner that will work on the board. The co-founders of Predium, Mitchell Wolff and Seth Weinstein, are very excited to make this announcement.
John Shaunfield has been hired as part of the Predium firm. In commenting about the change Weinstein said,
Dallas/Fort Worth Ranked #1 in Business
Saturday, November 17th, 2007The Dallas/Fort Worth area, also known as the Metroplex, was just ranked #1 for business opportunities and #2 for real estate opportunities in recent studies. In fact, the Metroplex area is adding jobs at double the national rate, and Dallas continues to be an incredibly popular area. The city of Dallas is quickly becoming a hub for foreign investment and international trade.
The new jobs that are being created in the Metroplex area include health care, banking, and advertising, with many lucrative career opportunities. Researchers and Virginia Tech studies predict that the urban development along the Interstate 35 corridor will add over six million new people and close to three million new housing units.
The Dallas realtors are preparing for the enormous influx of people that are relocating to the area. This is one of the best times to invest in Dallas Texas real estate. The growth of the Metroplex area has made Dallas the North American headquarters for large corporations, such as Ericsson and Nokia. With the amount of business that has developed in the area, Dallas is ranked as one of the nation
Dallas Baylor Medical Center Area Near Downtown is Booming
Friday, November 16th, 2007Just east of downtown near the Baylor Medical Center area the development has been slowly ramping up over the years. With much of uptown already built out, the focus is now shifting to this area. Many developments are already built and there are many more planned.
Buildings such as 3030 Bryan, shown below, are very spacious units that are priced below what you will find in uptown for the space. This area over the next 5 years will pretty much have all the same amenities as uptown.
There are many types of residences to choose from in this area. One of the most common type you will find are Townhomes, especially those with rooftop decks and breath taking views of the downtown skyline. You will also find condos, lofts and even single family homes. This is an area that most people don’t even know about yet because there’s still a lot of redevelopment waiting to happen. The Dallas Real Estate Market remains strong and especially the downtown & immediate surrounding areas.
Here’s a list of some of the developments in the area:
San Jacinto Lofts, Firestation 1333, Bryan St Townhomes, 3030 Bryan, Ross Ave Brownstones, Peak St townhomes, Forest Park and many more. There are many developments being planned and lots of commercial development on the way.
With this in mind there are plenty of Commercial Real Estate opportunities available.
For more information about any of the properties or to schedule a property tour call Eric Love / Uptown Realtor at 1-888-274-1439 ext 7
The Local Housing Slump Drops by Thirty-One Percent
Friday, November 16th, 2007In the area of North Texas, housing dropped, in the third quarter, to the lowest annualized rates that have been reported since the year 2001. One of the reasons for this drop in annualized rates is that lenders are pulling back on mortgage offers and homebuyers are being very cautious to who they sell their home to.
A report that was recently released by the Dallas-based company Residential strategies, contractors commenced work on only eight thousand houses in the third quarter, this means that housing starts is down by thirty-one percent.
It is believed that what has caused the big change in housing starts is the standards for mortgage qualifications, not the economy of the area. Dallas realtors fear that an environment that practices conservative lending will eliminate a large section of residential and commercial real estate buyers.
During the third quarter closings in new homes was also down by nineteen percent. In spite of this news, Dallas homes for sale continued to increase at a moderate pace. Even the value of homes has increased by three percent. This means that the Dallas real estate market is still active, just at a different pace.
The number of vacant housing in the area of north Texas has also decreased. This is largely because many builders have been offering incentives and discounts to home buyers, in order to reduce the amount of inventory. It is expected that as vacant housing reduces further these attractive offerings will also disappear.
Dallas – Fort Worth Apartment Market to Remain Strong
Friday, November 16th, 2007According to the M/PF Yieldstar, a research company, they predict net apartment leasing to total around 8,300 units over the next year. They also predict the apartment market in the Dallas-Fort Worth Region to be very strong over the next 12 months. Right now there are around 10,000 units currently under construction. Analysts aren
Economic Report for Highland Park
Thursday, November 15th, 2007It was recently reported that sales remained strong in the thriving city of Highland Park. These sales included both residential and commercial real estate. One of the most sought after locations in the city of Highland Park are the beautiful mansions situated on large, beautiful lots. Lot values have continued to increase, and it is not expected that a decrease will be seen anytime soon.
One of the reasons that Highland Park real estate is in demand is the exemplary rated Highland Park Independent School District. It was recently announced that