Archive for November, 2011

The National Real Estate Market in 2011: Where do We Stand?

Wednesday, November 30th, 2011

The national real estate market in 2011 has been a period of gradual progress, although at times it seemed like we were pedalling with all our might, but just not getting anywhere. By some standards, the national real estate market in 2011 is nowhere near recovery, while others believe that we have bottomed out and are on the road to good health.

What will it take to experience a solid recovery? It appears that it will only happen once we begin to clear out the glut of foreclosures in the market. Once the inventory of foreclosures and short sales has been greatly reduced, we can expect to see rising real estate statistics nationwide.

Most real estate experts agree that we are still in the midst of the housing crash, but that the forecast will begin to improve once the foreclosure issues – and the legal issues that surround them – begin to resolve.

Across the Nation

The market overall across the nation has shown signs of hope, as some areas of the country have already begin experiencing an increase in home prices. Other markets have stabilized, which is a good sign, as well.

Because the overall job sector has improved across the country since 2010, and more than two million private sector jobs being created, the real estate market is expected to follow suit.

U.S. Home Prices

Most experts note that, across the country, home prices will continue to slide downward, at least until the first part of 2012.

In August, statistics showed that sales of distressed properties were way up, along with short sales and real estate owned properties. However, these distressed property sales also meant
that home prices declined by four percent when compared to a year prior.

A Recovery in the Works?

Mark G. Doutzour, a chief economist at Texas A&M University’s Real Estate Center, paints a different picture about the U.S. real estate economy. In fact, he expects a recover of the economy to occur after the 2012 election.

Home prices across the nation rebounded in March by 2.2 percent, and median home prices rose to nearly $160,000. However, these statistics are almost 6 percent below what they were a year prior, and the median price is close to 2002 levels. In addition, almost two out of five homes sold in March were distressed properties, which usually sell at a discount.

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The Mosaic: The Ultimate Urban Lifestyle

Monday, November 28th, 2011

The downtown Dallas condo market is still hot, and buyers who want to experience the best in urban living know that residing in downtown Dallas, in one of the many exciting high-rise condo buildings, simply can’t be beat.

If you want to experience the best of the Downtown Dallas condo market, consider residing in one of the beautifully restored historic buildings. From exposed brick walls to soaring ceilings and floor-to-ceiling windows, loft living in downtown Dallas is one of the coolest ways to experience city living.

However, if you want to reside in one of the many new condo buildings and enjoy the benefits of sublime, modern living, it pays to check out the Mosaic. Located in the heart of downtown Dallas, the Mosaic boasts upscale amenities and interiors that are sure to impress even the most demanding buyers.

Building amenities as the Mosaic are designed to accommodate the busy urban professional. They include:

• A rooftop theatre
• A poker and cigar lounge
• Access to the Trophy Fitness Club
• Concierge services
• Valet car services
• Sweeping, panoramic views of downtown Dallas and beyond
• Easy access to public transportation (light rail station)
• Gated, underground parking

The interiors of the residences of the Mosaic speak to the luxury and opulence found here. In fact, there are stunning, modern interiors designed by today’s best designers:

Interior Features

The interiors of the residences are designed by Kevin Travell, Ray + Thorton and Ike Isenhour, and all include the following features:

• Custom cabinetry and designer hardware
• Granite and marble countertops
• Stainless steel appliances
• Expansive windows and breath taking views

The homes of Kevin Travell boast light grey cabinetry and black and white backsplash, while the homes of Kul: Ray + Thorton feature dark chocolate cabinetry. All interiors feature their own, distinct color pallets, and all of the homes of the Mosaic boast balconies or terraces that allow residents to enjoy sweeping views of the downtown Dallas skyline.

In addition, the homes of the Mosaic all boast open floor plans that let in plenty of natural light. The layout of these homes is free-flowing and spacious, thereby offering a whole new level of comfort for the residents.

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Thanksgiving Activities in Dallas That Can’t be Beat!

Wednesday, November 23rd, 2011

Thanksgiving in Dallas is a fantastic time of the year when residents celebrate with family and friends and engage in the many activities that make this city so special. Here are just a few Thanksgiving activities in Dallas the whole family will enjoy:

• Turkey Trot – Want to get a head start on shaving off those extra Thanksgiving calories? Head downtown and partake in the annual Turkey Trot. Get there early to participate in the many Turkey Trot festivities and then lace up your tennis shoes and participate in either the 5K run/walk or the eight-mile run.

• Sundance Square Parade of Lights – The day after Thanksgiving has become a tradition for seeing the beautiful lights of Sundance Square. Visitors flock to Fort Worth’s Sundance Square to see the over 100 illuminated entries, as well as marching bands and antique car shows. The parade will feature beautiful floats that feature community-themed decorations. The parade is free so save your seat now! The parade starts at 6PM so arrive early to claim your seat!

• MetrcoPCS Fair Park Holiday – If you want to get an early taste of Christmas, you must visit the MetroPCS Fair Park Holiday event. Visitors enjoy perusing the craft displays at Santa’s Workshop, enjoying the museums of Fair Park (at a reduced admission rate), shopping for holiday gifts at the Holiday Gift Market and witnessing the beauty of the dancing waters of the Esplanade Fountain. There is even an outdoor performance by the Dallas Wind Symphony Quartet and the tree lighting ceremony for the city of Dallas! Top off your Thanksgiving holiday with a spectacular fireworks display!

• Thanksgiving Square – Learn about the origins and traditions of Thanksgiving by visiting Thanksgiving Square, a local monument that was designed to reflect the “spirit of gratitude.” This monument, which was built in 1977, features three bells that ring every day. Tourists can visit this monument for free or pay a small fee to have a guided tour.

• Shopping – Get your holiday shopping started with a trip to NorthPark, a premier shopping destination in Dallas! This shopping mall, which is said to be home to some of Dallas’ most upscale retailers, also features artwork throughout, making a shopping experience a cultural experience, as well.

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Dallas Commercial Real Estate Market 2011: A Look Back

Monday, November 21st, 2011

The commercial real estate market in Dallas in 2011 was encouraging. The market saw a positive leasing demand and a decrease in overall vacancies during the third quarter, leading many analysts to believe that the worst is behind us.

The Dallas commercial real estate market 2011 saw an upswing due to the employment generated in the Dallas-Fort Worth metropolitan area. In fact, employment was up during the 12-month period ending in August, as more than 50,000 jobs were added to the region during this time.

Most analysts expect vacancy rates for the Dallas commercial real estate market 2011 to continue to decrease, with rental rates expected to gain momentum. In addition, many capital markets have seen lending activities increase and investment sales are also expected to increase in the near future.

Real Estate Owned Properties

During the first half of 2011 almost a half-billion dollars in commercial properties were sold by lenders. Although these numbers may suggest an increase in real estate owned properties, the statistics actually show that the number of commercial property foreclosures in Dallas is actually down from the same time a year prior.

Although there were plenty of analysts who predicted a glut of commercial foreclosures, this prediction simply didn’t materialize. During the first six months, 300 commercial properties were sold at auction by lenders, which is a 7 percent decline from a year prior. In addition, the dollar volume for foreclosures in the Dallas real estate market has also dropped an impressive 30 percent from 2010. In other words, compared to the market crash in the early part of the 1990s, things are looking really good.

Commercial Foreclosures

Although the Dallas commercial real estate market appears to be moving forward with swift momentum, this area has still seen its share of foreclosures this year, including the Fenton Center in Farmers Branch, the Crowne Plaza hotel in Addison, sections of the Lewisville Town Crossing and a number of development sites in both Irving and Frisco. Land that is not yet developed has accounted for the largest share of commercial foreclosures in the Dallas-Fort Worth metropolitan area this past year.

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Real Estate ROI Since 2000

Wednesday, November 9th, 2011

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An Update on the 2011 Dallas Real Estate Market

Monday, November 7th, 2011

Where does the Dallas real estate market stand now that 2011 is coming to a close?

Overall, 2011 was a year of recovery, albeit a gradual one. According to Freddie Mac, both housing and mortgage sectors saw slow recovery. One thing is for certain: the Dallas real estate market 2011 saw mortgage rates reach historic lows, which helped home sales stabilize.

In addition, the rock-bottom interest rates allowed refinancing to experience resurgence, as well. In fact, four out of five home loan applications for single-family homes were of the refinance variety.

As far as home values go, it is quite usual to see softness in the market during this time of year. Seasonal slowdown always results in lower home prices, so this has been expected. In addition, real-estate owned properties continue to cause a general weakness in the Dallas real estate market for the better part of 2011.
Home Affordability

It is definitely a buyer’s market in Dallas, as the home affordability index is at its highest levels. The three factors that comprise home affordability are: mortgage rates, house prices and income. With mortgage rates near historic lows, buyer affordability has reached its highest level in decades. As a result, the Dallas housing market has been inundated with first-time homebuyers. The influx of new homebuyers is expected to carry well into 2012.

Dallas Home Prices

Dallas home prices are still down quite significantly, and trends show that home prices are down nearly 10 percent over the last four years. It is expected for home prices to continue to decline throughout 2012.

Home prices in North Texas aren’t expected to reach their lowest until the end of this year, according to Fiserv Inc. These projections were based on the Case-Shiller Home Price Index. In the last year alone, home prices in Dallas were down five percent from a year prior. Median sales prices of homes in North Texas also declined during this period.

Mortgage Delinquency Rates

Although mortgage delinquency rates still continue to plague the Dallas real estate market, the market is definitely showing signs of stabilization, according Fiserv. In fact, mortgage delinquency rates have continued to decline for the better part of 2011, along with foreclosure rates.

In conclusion, it pays to mention that, overall, Dallas escaped the brunt of the recession and is now entering a period of price correction and stabilization.

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Coppell Luxury Townhome Communities

Thursday, November 3rd, 2011

There are plenty of Coppell luxury communities from which to choose; but the choices don’t end there. In fact, Coppell is also known for its beautiful, luxury townhome communities.

Not only are the townhomes of Coppell luxury communities attractive and practical for many homeowners, they are also quite affordable. Coppell townhomes usually start in the $200,000 price range, thereby making them an affordable option for many of today’s home buyers.

What can you expect in a Coppell townhome? Plenty of amenities, for starters. Here are just a few of the features and amenities of two of Coppell’s townhome communities: Riverchase Townhomes and the Villas at Lake Vista:

The Villas at Lake Vista

The residents of the Villas at Lake Vista enjoy use of the community spa, swimming pool, outdoor cooking area, community greenbelt, bike path, and fitness center. The homes here boast a number of wonderful conveniences and features. They include:

• Pre-wired for burglar and fire sprinkler systems
• Bathroom garden tubs, jetted tubs, separate showers, separate vanities and walk-in closets
• Double-pane windows, low-E, energy efficient windows, radiant barriers, and programmable thermostats
• Balconies and/or covered porches and exterior lighting systems
• Direct vent gas fireplaces
• Carpeting, ceramic tile and wood floors
• All homes are energy-star certified
• Central air conditioning
• HOA membership includes: backyard maintenance, blanket insurance, exterior maintenance, front yard maintenance and management fees.
• Interior features include: cable television, decorative lighting, pre-wired for flat panel televisions, high-speed internet available and skylights
• Kitchens include: stove, dishwasher, refrigerator with water line, microwave oven and garbage disposal.

Riverchase Townhomes

Riverchase townhomes, which was built in 2006, has become a popular townhome community in Coppell. Children here attend the Carrollton-Farmers Branch Independent school district. Just some of the features found in these attractive units include:

• Bathroom features include: garden tubs, separate showers and walk-in closets.
• Brick exteriors
• Thermo windows and ceiling fans
• Carpet and ceramic tile floors
• Central air conditioning
• HOA fees include: backyard maintenance, blanket insurance, exterior maintenance, front yard maintenance and management fees
• Kitchens include: stove, dishwasher, refrigerator with water line, microwave oven and garbage disposal.

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A Closer Look at Two Fort Worth Bella Flora

Tuesday, November 1st, 2011

Located just 20 minutes from downtown Fort Worth are the new home communities of Bella Flora and Bella Ranch. Amidst large, one-acre lots, just 10 minutes from downtown Fort Worth, are Bella Flora, exclusive, gated homes and Bella Ranch, spacious and affordable family homes.

Other nearby locations include: Interstates 20 and 820, Highway 377, the White Stone Golf Club and the Benbrook Lake Marina. There are also a number of entertainment and medical districts located nearby.

The communities of Bella Flora and Bella Ranch are located in the highly coveted Aledo Independent School District, thereby attracting many Fort Worth families.

These Fort Worth luxury subdivisions offer a variety of features and amenities to suit many lifestyles. Here is a closer look at these two Fort Worth luxury subdivisions:

Bella Ranch

Bella Ranch, which is now building new model homes, features single-family homes that range in size from 3,200 square feet to more than 5,000 square feet. The homes in Bella Ranch are priced from $270,000 to more than $500,000. These homes, which are said to be of the craftsman and contemporary styles, are a part of a secure, gated community. Many of the homes in this neighbourhood have wooded and creek views.

Bella Flora

Bella Flora is a stately, master-planned community that boasts everything from a cobblestone entry to serene, one-acre lots. The homes of Bella Flora are at least 4,000 square feet in size, and homebuyers here can choose their own builder.

The community of Bella Flora features beautiful walking trails and private lakes, and most properties feature wooded views and lakefront views.

The homes of Bella Flora offer exquisite living in the heart of Fort Worth, thereby allowing many city professionals to call this premier community home. Just some of the countless amenities found throughout many of the homes in Bella Flora include: vaulted ceilings, hardwood flooring, Brazilian granite countertops, Italian marble and travertine, custom cabinetry, outdoor living rooms and fireplaces, and lagoon-style swimming pools. Many of the homes in Bella Flora are backed up to the community’s walking trails, making outdoor recreation effortless and enjoyable.

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