Archive for February, 2009

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New Office Construction at a Minimum for the Upcoming Year

Friday, February 13th, 2009

After years of substantial growth, the North Texas commercial property market has finally showed signs of cooling off. In fact, many developers and analysts expect very little office building construction to take place throughout Dallas in 2009.

Like other types of construction, capital is at a premium, and vacancies throughout existing buildings are on the rise, reducing the need for any new office space.

New Real Estate Projects Put on Hold

Many new real estate projects are either put on hold or canceled altogether due to the current credit crunch crippling not only the Dallas region, but the country as a whole. Net leasing in 2008 was the slowest in three years, clearly signaling a slowdown of the North Texas office market.

In fact, the amount of office space being built during December 2008 was the smallest since the end of 2004, according to statistics from Cushman & Wakefield of Texas.

Current Vacancies on the Rise

The fall-off in building, for the time being, is likely a smart move, as overall vacancies in current buildings stand at 20 percent and will likely increase in the coming months.

The stagnant office market is also likely brought about by tenants simply concerned about maintaining their business, not changing spaces. Many analysts predict that the next six months will see very few businesses shopping for office space.

Landlord Issues and Concerns Mount

For landlords, this current slowdown in the office market means that preserving cash flow and out-of-pocket expenditures will take more of a priority than remodeling office spaces to fit potential tenants. Instead, they will likely remain focused on keeping remaining tenants.

Keeping a close eye on tenant credit is also on landlords’ minds, as signing a lease will mean strict credit checks to ensure their tenants will be there to pay their rent.

Light at the End of the Tunnel?

Although not good news for the moment, many analysts also predict an increase in business activity during the second half of the year, as relocation activity is expected to increase, along with corporation confidence.

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Home Buying Basics: Don

Wednesday, February 11th, 2009

Finding the perfect Turtle home often goes beyond the home’s property line. Many times, a home’s surroundings are often as important as the home itself.

  • For example, a home on a busy street can end up causing you a considerable amount of grief. Even if you think you can tolerate it now, consider a few years down the road when your children will need to walk that road to get to the bus stop.
  • A home’s location is very important, as well. Be realistic about its proximity to your job, your children’s school and even the local supermarket. Purchasing a home in an inconvenient area will only create a lot of unnecessary grief and hassle.
  • Consider neighboring homes, as well. Even though your property has been impeccably maintained, other homes may not be well cared for. Although something like this may not bother you, consider down the road when you go to sell your home. Will other buyers see these unkempt, surrounding properties and be turned off by them? Will it decrease your property’s overall value?

Remember that your home should be a wise investment choice, and purchasing a home that could potentially lose value is certainly not a good decision.

  • Talk to the local city council and find out whether there are any proposed changes to the neighborhood, such as new shopping centers or highways, both of which could lower your home’s property value. For example, if a new shopping center brings more traffic into your neighborhood, it could become less attractive to home buyers which will, once again, cause property values to decline.
  • Finally, get an idea of what the neighbors are like, and ask about any complaints they may have about the neighborhood or about other neighbors. Visit the neighborhood on a weekend, as this is the time that many people will be outside, and begin asking questions.

Talk to your realtor and do your research when purchasing your next Turtle Creek home, as your investment relies on it!

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Easing the Stress of Moving for you and your Family

Monday, February 9th, 2009

Moving to a beautiful home may be exciting and wonderful, but it may also come with plenty of aggravation, stress and uncertainty, both for you and your family.

the stress of finding religion by The Searcher.

photo by searcher

The act of moving from one home to another is often ridden with loads of stress for every member of the family. The following tips can help make the move to your new, Highland Park home an easier one:

Preparing to Move

  • Plan ahead and book your moving company NOW, even if the move is still months away.
  • Begin packing away off-season items, such as holiday decorations, pool toys and outdoor d

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Dallas

Friday, February 6th, 2009

As part of the master planned community of Victory Park, the W Dallas Victory Park Residence Tower is situated above the W Hotel Dallas Victory Park, on floors seven through 15.

Custom-designed floorplans, many of which exceed 4,300 square feet, along with the exceptional services and amenities of Dallas’ famous W Hotel, make living in the W Dallas Victory Park Residences second to none.

victory park, looking up by michael spear hawkins.

photo by Michael

More than 50 percent of the floor plans of the W Dallas Victory Park Residences are not pre-configured, which allow homeowners to work alongside an interior architect to design the custom home of their dreams. These luxury homes are designed to maximize space and ensure the finest in modern living.

The hot, new urban development of Victory Park, which is located northwest of downtown Dallas, plays host for many, new developments, with the W Dallas Victory Park Residences certainly being one of the most intriguing.

Designed to serve as a private oasis from all of the hustle and bustle of the city, the W Dallas Victory Park Residences does its part to evoke a sense of luxury and opulence, from its superb condominium residences to its jaw-dropping amenities and services.

The suites of the W Dallas Victory Park feature floor-to-ceiling windows, soaring ceilings which often exceed 10 feet, expansive terraces, gourmet kitchens and steamless showers,

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Condo Living: Is it Right for you?

Monday, February 2nd, 2009

Some of the hottest real estate in downtown Dallas & Fort Worth belongs to the condo sector. Condominium living has surged in popularity over the last few years, and developers are responding with an amazing array of luxury condominiums and loft apartments.

http://i.livescience.com/images/ig36_amz_Dallas_Downtown_09.jpg

If heading into the city and laying down roots intrigues you, then a condo may be just what you’re looking for.

The Perks of Condominium Living

Condominium living is, first of all, maintenance-free, which appeals to many homeowners that want to spend their extra time enjoying life instead of fixing a leaking sink.

Second, downtown Dallas condo living puts you smack dab in the center of all the action: restaurants, nightclubs and world-class shopping all abound throughout the downtown Dallas area.

Finally, condo living boasts a dizzying array of amenities and services, some of which rival the country’s most luxurious, four-star hotels. What could be better than a rooftop swimming pool, 24-hour concierge service or a state-of-the-art fitness center just steps from your home?

Possible Downsides to Condo Living

Condo living, however, may not be right for everyone. Giving up a certain degree of privacy, for example, comes with the territory. Owning a single-family home is very different from the constant action found throughout a condo building.

HOA fees are also commonplace when owning a downtown Dallas condominium. Although they serve a useful purpose of maintaining public spaces or landscaping the grounds, for example, many homeowners find HOA fees to be quite expensive, and often excessive.

Finally, the restrictions imposed on condo living may not work for some people. Although the restrictions are often designed to maintain property values, some homeowners feel that they have the right to alter or change their home to fit their needs.

As with any other home buying decision, condo living should be given much consideration. It is important to remember, however, that every condominium residence will enforce different rules and have different homeowner’s fees, so it is important to shop around and find one that best fits your lifestyle and budget.

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