Archive for March, 2010

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Subleasing your Downtown Dallas Office Space

Thursday, March 11th, 2010

If you are struggling to pay the rent on your downtown Dallas office space, you may have given some thought to subleasing part of your space. Many business owners, facing economic losses and climbing fees, have turned to the idea of subleasing their downtown Dallas office space.

Although this may seem like a logical solution, there are a variety of factors to remember before subleasing your downtown Dallas office space:

  • Subleasing can allow you to share your lease burden with another company and cut your raw office space in half. It is likely that you will be able to successfully sublease your downtown Dallas office space, given the excellent location in the city. You must be prepared, though, to charge your tenant less per square foot.
  • The stability of your sublease agreement relies heavily on the stability of the company that is purchasing the space from you. In other words, you may end up losing your tenant. It may be a good idea to choose an established company with a stable business history so that you can mitigate your risk.
  • Realize that you and your tenant may have different views on the operation and layout of a business, but that your tenant controls their space, not you. It may be hard to relinquish control over your tenant’s space, but your tenant has as much right to use his or her space (within the confines of the lease, of course) as desired.
  • Do your homework and read your lease carefully when it comes to subleasing. Most lease contracts will have specific language about subleasing, so read and understand these terms before subleasing the space. Subleasing can benefit both you and your tenant, but it can also present a variety of problems and obstacles. Make sure you are ready to address these issues before subleasing.
  • Figure out how much you will need to lease the space for without hurting your bottom line. Consider the costs of operation, utilities and the like, and make sure that your tenant realizes all of the related costs of subleasing your downtown Dallas office space.

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How to Develop an Accurate Pricing Strategy for your North Dallas Home

Wednesday, March 10th, 2010

North Dallas home values have been leveling off, and many areas of North Dallas are now showing signs of appreciation. Although this is certainly good news for anyone trying to sell a North Dallas home, it can prove to be quite tricky when it comes to developing a pricing strategy.

If you are unsure about the changes in North Dallas home values, and how this may affect your pricing strategy, you’re not alone. Most sellers want to price their homes aggressively, and also price them to reflect the changes in home values; but they also don’t want to price themselves right out of the neighborhood.

How to Develop an Accurate Pricing Strategy:

  • Hire a qualified, seasoned real estate agent – This is one area of selling your North Dallas home that you don’t want to skimp on. Find a top-notch agent who understands the market, and also understands your neighborhood and where North Dallas home values are headed.
  • Price it right – Although this may seem like a no-brainer, many sellers, absolutely sure of their ability to sell their home at a higher rate than other comparables in the area, find themselves sitting on their property without an offer in sight. The bottom line is that your pricing strategy should accurately reflect North Dallas home values, not your idea of what you think your home is worth.
  • Develop a realistic sales strategy – Decide upon your sales strategy beforehand so that your game plan is put in place. More importantly, however, make sure your sales strategy is flexible so that you can react according to the market and according to home values.
  • Make it ready to sell – Most buyers of today are looking for turn-key properties, so make sure your home is in excellent condition before you list it for sale. It is important to realize that all the pricing strategizing in the world can’t make up for a home that doesn’t compare to other homes in the neighborhood. Clear out the clutter, stage it to sell, and perform any repairs or upgrades that will allow it to compete with other homes for sale in the neighborhood.

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A Guide to Securing your New Home

Monday, March 8th, 2010

Fort Worth new homes are often spacious, luxurious and armed with great design features and amenities.

However, Fort Worth new homes may also be a target for burglaries. It is because of this that you should consider your security options when moving into a new home.

Many Fort Worth new homes include excellent security systems, although some do not. Even for those with security systems, you may want to upgrade the security in your new home so that you can protect yourself, your family and your possessions.

Tips for Securing your new Home:

  • If your home was occupied, change all the locks before moving in – Although the former owners may think they retrieved all the keys to the home before moving, they may very well have forgotten one or two. It is because of this that you must have all the locks changed once you have purchased the house.
  • Meet the neighbors and ask about any neighborhood watches – Introducing yourself to the neighbors is a great way to establish bonds and create friendships. It is also a great way to develop a community presence so that you and your neighbors are aware of anything out of the ordinary. If your neighborhood does not have a neighborhood watch in place, consider hosting a party or barbecue and getting one organized.
  • Check the home’s current security system and upgrade, if necessary – Ask a professional to check the home’s security system to make sure it is adequate and in good working order. Ask about upgrades, such as motion detectors and additional keypads.
  • Think like an intruder – Check all points of entry into the home and make sure they are well-lit. Also, make sure there are no trees or shrubs near the home that may provide a hiding place for an intruder.
  • Check your sliding glass doors – Sliding glass doors can be an easy entry point for an intruder. Luckily, however, there are many types of locks that can secure these types of doors.
  • Check your windows – Make sure all the locking mechanisms on the windows function properly, and that they are also protected by your home’s security system.

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Looking Ahead to Fort Worth

Thursday, March 4th, 2010

Fort Worth commercial real estate activity is struggling to hold its own, much like other markets in the North Dallas area.

Fort Worth’s commercial real estate market was at a standstill in 2009, much to the chagrin of many landlords and building owners, and it looks like 2010 will be much of the same.

Disconnect between Buyers and Sellers

One of the problems still existing in the Fort Worth commercial real estate market is that there appears to be a general disconnect between buyers and sellers regarding pricing for commercial real estate. In fact, much of the Fort Worth commercial real estate activity is done out of necessity, such as an upcoming loan expiration or low occupancy. In other words, the only activity seen is by those who absolutely must buy or sell.

Most commercial real estate tenants are staying put, at least for the foreseeable future, thereby creating a virtual standstill for Fort Worth commercial real estate activity.

Many buyers are also waiting on the sidelines for distressed sales to come into the market. However, given the fact that many lenders are delaying foreclosure proceedings, there isn’t a whole lot of activity on this side of the market. Unless lenders begin foreclosing, the activity will remain close to dead.

Landlords and Renters at a Standstill

Fort Worth commercial real estate activity in the office sector is also expected to see much of the same as landlords hold out for more money and tenants hold their ground on rent prices.

Overall vacancy rates for downtown Fort Worth Class A office space is at 11 percent, but when sublease space is taken into consideration this number nearly doubles.

Many businesses, still unsure of where the economy is headed and whether improvements will happen sooner than later, are simply waiting it out to see what happens.

This factor has certainly played a large role in driving down the rental rates of Fort Worth office space.

There are many incentives, however, being offered by landlords to get tenants in the door. Many leases are falling $1 to $2 per square foot, and many landlords are offering one month of free rent for every year the lease is signed.

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The Prestigious Neighborhoods of Preston Hollow

Monday, March 1st, 2010

The beautiful city of Preston Hollow offers plenty in the form of luxury homes. With neighborhoods that speak of New England charm and historic splendor, Preston Hollow is a highly desired suburb of Dallas. In fact, Preston Hollow is arguably one of the finest communities of Dallas.

There are many fabulous neighborhoods of Preston Hollow, but one of the more well known neighborhoods is the Preston Hollow Dallas Estate Area. This Preston Hollow luxury neighborhood has many historic homes, some of which were built by prominent architects of their time. The estate neighborhood of the Dallas Estate Area (includes homes from Walnut Hill to Forest Lane) features nine, distinct neighborhoods, which include:

  1. Mayflower Estates Neighborhood – This Preston Hollow luxury neighborhood is ideally located between Gaywood and Broadmoor Park. It features some of the largest estates of Preston Hollow, and many of the homes were built between the 1950s to the 1990s. George and Laura Bush also owned a home in this exclusive Preston Hollow luxury neighborhood.
  2. Strait Lane Neighborhood – The Preston Hollow luxury neighborhood of Strait Lane consists of a long, country lane that boast some of the largest estate homes in Dallas. Many of the homes in this community are situated on large lots, some as large as 25 acres.
  3. Los Arboles – This gated community features architect-designed homes on large lots. Winding streets, lush landscaping and small lakes add to the ambience of this Preston Hollow luxury neighborhood.
  4. Kelsey Square – Kelsey Square features larger homes built from the 1960s to the 1980s. This community also features many new homes, as well.
  5. Northaven – Most of the homes of Northaven were built by prominent architects from the 1950s. It is common to see Mid-Century modern and ranch homes throughout this Preston Hollow luxury neighborhood.
  6. Lobello – Lobello features homes from the 1960s through today.
  7. Crest Manor – Winding streets and larger, contemporary homes are found throughout Crest Manor.
  8. Brookshire Park – Mature trees and winding roads provide a beautiful backdrop to the large homes of this Preston Hollow luxury neighborhood.
  9. McDowell – McDowell features smaller homes than some of the other neighborhood of Preston Hollow, but they are often located on spacious lots.

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