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Why New Homes are Selling Fast

Monday, May 20th, 2013

The real estate market has taken an interesting turn in the last year or so. New homes are going up everywhere, while existing Coppell home sales, although certainly rebounding nicely from the effects of the recession, just aren’t selling like new homes. In fact, take a turn or two onto any Dallas suburb street and you will likely see new homes popping up around you. Here’s why:

  • Interest rates are low, low, low – Most homebuyers are now able to buy more home for their money, thanks to low interest rates and exciting and attractive home loan programs. In other words, the buying power of most home buyers has increased significantly.
  • New home prices are reasonable – Many home builders have shifted their strategy regarding new home building. Just a few years ago, builders were putting up million-dollar homes faster than ever, while today’s new home communities are much more affordable and understated. Most homes these days are smaller than their pre-recession counterparts, and the bells and whistles have also gotten less “blingy” and more utilitarian. That means that buyers can now better afford new homes. If a new home is $250,000, and an existing home is in the same price range, it only makes sense that most buyers will head to the nearest home builder.
  • New homes allow buyers to take control – Unlike an existing home that already has the previous owner’s stamp on it, a new home allows the buyer to create a home that’s perfectly them. From the kitchen countertops to the color of the carpeting and the style of the faucets, new homes provide buyers with the luxury of designing and building a home that their stamp on it; not the previous owner’s stamp.
  • New home construction loans are better than ever – If you have the credit and income to back up a new home construction loan, then lenders are ready and willing to work with you. Some of today’s construction loans provide buyers with the flexibility they need to build a home and live in another home without going broke, which, of course, is very attractive to most home buyers.

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Plano’s Dynamic Real Estate Market

Sunday, July 22nd, 2012

Plano is still one of those cities that other cities scramble to model themselves after. In fact, since Plano’s market first exploded in the 1990s, this remarkable city has been a hub for Texas residents looking for a piece of the Texas real estate pie.

Much of Plano’s real estate was built during the 1990s, in the form of single-family, detached homes, although some condo communities and retirement communities were built around this time, as well. Today, new construction in Plano is found primarily on the eastern side of town, and it is typically priced in the $350,000 to $500,000 price range.

The reasons for Plano’s success and growth are no surprise, however. Here are just a few of the reasons why Plano continues to have one of the most dynamic real estate markets in Texas:

  • Plano boasts a well-educated workforce that is skilled in high-tech.
  • Many upscale communities in Plano, such as Willow Bend, feature golf courses and gated communities, thereby catering to the professional, high-tech workforce found here.
  • Many properties throughout Plano’s exclusive communities feature estate-style living; complete with well-manicured grounds and grand staircases.
  • Plano is ideally located near many major roadways in Dallas, including the George Bush Tollway and State Highway 121. Again, this showcases the desire for many professionals to reside here.
  • Many corporate headquarters are located in Plano, including JCPenney, Cinemark Theaters, Frito-Lay and Dr. Pepper.
  • Plano has gotten its share of national attention over the years because of its outstanding quality of life, including CNN, who named Plano as the Best Place to Live in the Western United States in 2005, and Forbes.com., who named Plano as one of the Top Suburbs to Live Well in 2008.
  • Plano schools have always been highly regarded, and have consistently been ranked among the top in the nation. Within Plano there are 70 public schools and 16 private schools, thereby providing residents here with a variety of schooling options for their children.

Here are just a few of Plano’s top subdivisions:

  • Amelia Court
  • Bent Trail/Briar Ridge
  • Bristol Point Estates
  • Canyon Creek
  • Carrington Estates
  • Estates of Prairie Creek
  • Greenwood Hills
  • Highland Creek
  • Jackson Highlands
  • Lone Star Ranch
  • Stoney Hollow
  • Stonehaven
  • Village on Preston
  • Watters Crossing
  • Walnut Grove

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2012: A Lot to Cheer about in Texas

Tuesday, May 29th, 2012

Could it be? Could Texas have something to brag about in 2012?

Well, if recent numbers are any indication, there are many things for which we can be thankful in Texas this year.

To begin, it looks like the Texas economy has gotten sick and tired of lying down and playing dead. A good indication of this is through tax collections. And, since September first, tax collections across the state are up nearly 13 percent. Even by Texas standards that’s mighty impressive.

A good way to put this impressive number into context is, if Texas were to continue at this break-neck speed for the entire fiscal year, we could see the fastest sales tax growth since the 1990s. Even during the real estate bubble and easy credit days of 2006 numbers weren’t this exciting. In fact, it appears that Texas is expanding, despite a wavering housing market and high unemployment rate. And here’s why:

  • The oil and gas boom are Texas’ best friend. It fact, the increase in drilling across the southern and western parts of the state, along with high oil prices, have had a positive impact on the region, to put it mildly. Consider that natural gas taxes are up 65 percent and oil production taxes are up 54 percent, and it’s easy to see why things are looking up.
  • Sales tax collections are up 21 percent across the state. The biggest players: Frisco and Grand Prairie, which have seen tax collections up by double-digits. For the first four months of this year, Dallas sales tax collections are up 8.3 percent and Fort Worth sales collections are up 7.6 percent. In addition, Houston and San Antonio have seen sales tax collections nearly double, as well.
  • Texas added 95,600 jobs in January and February alone, which is more than three times the same time last year. As such, consumer confidence took off during this time, as well, with car and truck sales increasing by 16.4 percent in North Texas during just the first quarter of this year.

It looks like Texas is geared up for a fantastic 2012, and consumers appear to be the ones to thank for it.

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Dallas-Fort Worth Market Looks Hot in 2012

Tuesday, May 22nd, 2012

Spring brought a nice surprise to the Dallas-Fort Worth area: a spike in home sales.

For many, the real estate market hasn’t looked this healthy for a few years now. The strong real estate market is likely most evident in the many new homes springing up in the area. Builders are happy, home buyers are happy, and the economy is showing it.

We’ve seen lenders ease their purse strings, builders introduce more new home communities into the market, and a healthier job market. And, of course, these are the driving factors as to why the real estate market in Dallas-Fort Worth may just get along swimmingly this year after all.

Here are the top 3 reasons why we can expect to see the real estate market continue its rebound in 2012:

  • Rising rents – Rents are rising everywhere, which are encouraging developers to get off the sidelines and begin constructing homes and apartment buildings. Rising rents mean a stronger demand, which is always good news for builders. In addition, many of those renters, facing higher rents, have made the move to homeownership, thereby spurring growth for single-family homes. Many Dallas residents, once they consider they can secure a mortgage that is the same – or even lower- than their rent, have begun making the move to homeownership.
  • Optimistic Job Market – The job market has strengthened significantly since last year, leading many Dallas-Fort Worth residents to either get better jobs or get more secure jobs. The more secure individuals feel in their career, the more likely they are to consider purchasing a home. A better job market also encourages relocation, which is always a great sign for new home builders.
  • Better Lending – In addition to the rock bottom interest rates still being enjoyed by home buyers across the country, lenders have finally begun easing up on their standards, which means more Dallas-Fort residents are eligible for home loans. Although lenders are still requiring strong credit scores and income to back up a loan, they are easing their standards somewhat regarding down payments and debt-to-loan ratios, thereby allowing many renters to become home buyers.

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Victory Park’s Bright Future

Tuesday, March 20th, 2012

Will the real Victory Park please stand up?

For a few (grueling) years now, Victory Park was considered to be the most luxurious and upscale place in Dallas to live, work, shop and relax. But being billed as upscale during a time when no one was buying did nothing but hurt Victory Park. Considered by most to be simply unattainable – from the condo residences to the swanky shops – Victory Park was nearly a disaster.

Fast forward to 2012, however, and it looks like Victory Park has finally gotten in right. The original Victory Park developer, Hillwood, cried uncle in April 2009 and turned over control to the German real estate company, US Treuhand.

Since then, US Treuhand has invested millions into the Victory Park project and according to many Victory Park will take off in 2012. The secret? Making Victory Park more attainable and welcoming to the masses.

Even if Victory Park did suffer from a personality disorder for the first, few years of its life, it looks as if the new developers are making the necessary changes to make sure this stunning Dallas development is enjoyed by the vast majority of Texans – and not only the affluent.

A New Beginning

Victory Park will most certainly take off in 2012. From its exceptional near-downtown location and its close proximity to the beautiful Katy Trail, Victory Park has plenty going for it.

Victory Park is home to the Calatrava Bridges, the Arts District, the Woodall Rodgers Park and the Perot Museum of Nature and Science. It is where professionals, families and visitors alike can spend the day shopping, dining and engaging in the exciting nightlife.

Just a few of the noteworthy restaurants located in Victory Park include: Craft, the Hard Rock Café, the House of Blues, Kenichi, Luna de Noche, Medina, Naga Thai, Neo Pizza and Victory Tavern.

Victory Park is the site of some of the most exciting condo buildings in the city, including the W Dallas Victory Hotel and Residences, the House, the Terrace condominiums and the Vista apartments.

Victory Park will also be home to One Victory Park, a new, 72-acre development of Class AA office space.

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The Appeal of Rockwall, Texas Real Estate

Monday, February 20th, 2012

Rockwall, a suburb of Dallas, is part of Rockwall County, the second wealthiest county in Texas according to median income. It is likely the natural beauty and the lovely array of real estate that have attracted the many residents who call Rockwall home.

Rockwall’s Natural Beauty

Rockwall, Texas is named for a structure that is often considered quite mystical. Rockwall is a stone wall that spans an area of nearly 20 square miles underground. This very old wall, which was discovered in 1851, is covered in pictograph and has since become a large draw for visitors.

Rockwall is located beside Lake Hubbard, a tributary of the Trinity River. Covering nearly 23,000 acres, Lake Hubbard has made a lovely backdrop to many of the lakefront homes found here. Lake Hubbard has also become the source of fantastic recreational activity for both visitors and residents alike.

Rockwall’s Amenities

Many residents who own much-desired waterfront property in Rockwall boast boat ramps. As such, there are a number of yacht clubs and marinas where boat owners can enjoy everything from sailing to boating and fishing.

Golf clubs are popular in Rockwall and, as such, there is a nice selection of golf course community homes from which to choose.

This Dallas community also boasts great shopping at locations such as Steger Towne Crossing, Rockwall Village Shopping Center and Ridge Road Shopping Center.

Rockwall’s Real Estate

Rockwall, Texas real estate is varied and exciting, and buyers can purchase everything from previously owned properties and land to new construction. Some of the new communities currently being developed in Rockwall include: Woodcreek ($127,990 to $327,999), Fontanna Ranch ($274,990 to $390,637), Barringer II at Woodcreek ($139,900 to $189,900) and Lafayette at Woodcreek ($188,900 to $309,900).

Many residents are flocking to Rockwall because of the reasonably priced new homes.  As such, this area has been quite popular for both first-time homeowners and established families.

In addition, there is a wide variety of fantastic Rockwall, Texas real estate in established neighborhoods, including:

  • Carrington Farms
  • Saddlebrook
  • Bluebonnet Ridge
  • Lakeview Meadows
  • Equestrian Meadows
  • Quail Creek
  • Austin Corners
  • Lofland Lake Estates
  • Oaks of Buffalo Way
  • Dowell
  • Kentwood Estates
  • Old Millwood
  • Anchor Bay
  • Shepherds Highlands

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Water Street: A Future Las Colinas Development

Wednesday, February 8th, 2012

Las Colinas is a hub for some of the largest commercial and residential developments in the DFW Metroplex. From landmark office buildings soaring high into the blue, Texas sky to private country clubs, gated communities with sprawling estate homes and enough amenities to suit even the most discriminating residents, Las Colinas is where Texans go for the best in residential, retail and commercial developments.

Often called “America’s Premier Address,” Las Colinas is the gem of Irving, and Las Colinas new developments are commonplace. Las Colinas new development for builders and developers is often a smart choice because Las Colinas epitomizes the ultimate location in the DFW Metroplex, a reputation for being one of the finest master-planned communities in Texas, and a hub for some of the world’s largest corporations.

Water Street

Water Street, an envisioned Las Colinas new development, will be located along the shore of Lake Carolyn, in the heart of Las Colinas. This development will be a hub for retail, dining and entertainment establishments, as well as luxury residences, office space and even a landmark hotel.

The developers of Water Street, Gables Residential and Urban Partners, expect this development to “become the heart and soul of Las Colinas.” Water Street, like other complexes in Las Colinas, is ideally located between Dallas and Fort Worth, as well as the DFW International Airport and Dallas Love Field.

Other features of Water Street will include:

  • 240,000 square feet of shops and restaurants
  • 250,000 square feet of office space
  • 600 luxury apartments
  • Boutique hotel
  • Art-house movie theater
  • Waterfront esplanade
  • Piazzas, loggias and lakeside restaurants

In response to the Water Street development, Irving has plans to build a DART light-rail system close by, as well as a $31-million parking garage and $16 million in land reclamation and plaza construction. The infrastructure plans are valued at $350 million.

Water Street will be located within a short distance to the Las Colinas Convention Center, and it will be located across O’Conner Boulevard from the Mustangs of Las Colinas sculpture. The Mustangs of Las Colinas is currently a large draw for Las Colinas, and it is Irving’s most popular tourist attraction.

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Swiftly Growing DFW Areas to Watch in 2012

Tuesday, January 24th, 2012

This year will likely bring a multitude of cities within the Dallas-Fort Worth area that will experience significant growth. If you are searching for 2012 DFW real estate areas to watch, you need not look any further than the bustling areas of Southlake, Carrollton and Plano. These areas have consistently seen increases in employment, housing prices and real estate activity, and will likely continue do so throughout the new year.

Southlake

As one of the top 2012 DFW real estate areas to watch, Southlake is likely considered to be one of Fort Worth’s most successful cities. Located in the counties of Tarrant and Denton Counties, Southlake enjoys a prime location near Grapevine, Colleyville and Keller.

It wasn’t until 2008, however, that Southlake really began making a name for itself when it was named by Forbes.com as the most affluent community in the United States. In addition to its exceptional real estate opportunities, Southlake features such points of interest as Southlake Town Square and Bicentennial Park, a park with 74 acres of sprawling green space.

Plano

The Dallas population boom of the 1960s spurred the growth of Plano. Now, more than 40 years later, Plano is a popular area that features beautiful homes, impressive shopping and loads of outdoor recreational activities and parks.

Located near Dallas, Plano is now considered to be one of the most successful master-planned communities in North Texas. Plano has become a popular area in which to reside, in part because of the many corporations and business located here.

Points of interest in Plano include an historic downtown area and the shopping malls of Collin Creek and the Shops at Willow Bend.

Carrollton

Carrollton is a popular city in North Texas that boasts a prime location near the DFW Metroplex and the Dallas-Fort Worth International Airport. It was also ranked as one of the “100 Best Places to Live” by Money Magazine and one of “America’s Best Places to Move” by Forbes.

This area is also quickly growing in popularity because it is home to the Baylor Medical Center of Carrollton. Other points of interest in Carrollton include its 1,230 acres of parks and recreational areas and the Indian Creek Golf Club.

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A Closer Look at Coppell’s Community Programs

Saturday, January 14th, 2012

Coppell may be a small city located in both Dallas and Denton Counties, but this DFW city enjoys a robust economy and a swiftly growing population. As such, Coppell new home communities are in high demand, and real estate values have seen steady increases, even during the height of the nationwide recession.

In addition to boasting many new home communities and countless amenities like shopping centers and public parks, Coppell has a number of fantastic community programs that support a strong community:

Community Gardens

The Coppell Community Gardens supports community gardens, as well as a farmer’s market and environment education. This community program is overseen by a group of dedicated volunteers who lend their time to provide a market for locally grown food and donate organic produce to needy families. The community gardens are also a valuable source for education on sustainability practices and youth community services.

Some of the programs within the Community Gardens program include: Share the Harvest, Adopt-A-Plot, Composting Education, and the Coppell Farmers Market.

Coppell Green Team

The Coppell Green Team is described as a “multi-tiered recognition program designed to foster environmental awareness and promote sustainable behavior.” It works alongside Keep Coppell Beautiful and the Coppell Chamber of Commerce to make sure businesses and organizations are taking the necessary steps to help the environment.

The goal of the Coppell Green Team is to promote environmental sustainability through environmental sustainable practices.

Keep Coppell Beautiful

Keep Coppell Beautiful is a program designed to encourage individuals and businesses to engage in activities to promote a beautiful city. Some of the activities and education overseen by Keep Coppell Beautiful include: encouraging waste reduction, litter prevention, beautification and environmental sustainability.

Just some of the awards granted to Keep Coppell Beautiful include: Keep Texas Beautiful Gold Star Affiliate (2011, 2010, and 2009), Keep Texas Beautiful Governor’s Community Achievement Award (2011), and Keep America Beautiful President Circle Award (2010 and 2009).

Some of the major events overseen by Keep Coppell Beautiful each year include: Clean Coppell City-Wide Cleanup, Coppell Earthfest, Texas Recycles Day, Texas SmartScape classes and tour, Denton Creek Clean-Up and the computer and electronics recycling program.

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Carrollton’s Neighborhood Initiatives

Saturday, January 14th, 2012

It is really no secret that many home buyers are looking to settle in Carrollton and one of the many Carrollton new home communities. Consisting of 13 constituent neighborhoods and numerous Carrollton new home communities, this thriving Texas city boasts a good deal of new real estate and an attractive and robust economy.

Because of the influx of new residents to many Carrollton new home communities, this progressive city has implemented a number of neighborhood initiatives that allow residents here to live well, live safely and join together as a community. Here are just a few of our favorites:

Neighborhood Integrity Program

The Carrollton Neighborhood Integrity Program is vital to Carrollton’s home values, as it enforces the code of ordinances in Carrollton. It also oversees the comprehensive coding zone, the housing code and the abatement of dangerous building code in Carrollton.

In short, the Carrollton Neighborhood Integrity Program ensures that homeowners and land owners in Carrollton abide by the strict set of codes in this community. Code enforcement officers work to uncover and remedy code violations to ensure the health and wellbeing of all Carrollton residents.

Going Green Initiatives

Because Carrollton is “committed to supporting emission reduction, energy conservation, and other environmental initiatives,” the city participates in a number of programs, including the Clean Texas Program and the North Central Texas Council of Governments.

In addition, the city of Carrollton abides by all local, state and federal environment regulations and makes every effort to ensure the protection of water quality and to promote environmental sustainability.

The Clean Water Act

The Clean Water Act, which is a government program to ensure protection of the surface water within the United States, includes a number of regulatory and non-regulatory tools, which are designed to reduce the introduction of pollutants into waterways. It also oversees wastewater treatments facilities and the need to reduce polluted runoff.

Clean Air Act Programs

Just some of the programs covered under the government’s Clean Air Act Programs include: the acid rain program, climate change, air pollutants, health and ecosystem protection, ozone later protection, radiation, air pollution data sources and air quality data.

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