Which grocery store has the "Starbucks Effect": Trader Joe's or Whole Food?

Which grocery store has the “Starbucks Effect”: Trader Joe’s or Whole Food? (Photo: t2RealEstate)

Which upscale grocery has the “Starbucks Effect”: Whole Foods or Trader Joes? That’s what RealtyTrac recently analyzed.

If you haven’t heard of the “Starbucks Effect” here’s a little primer:

“Homes in the Dallas-Fort Worth metro appreciated 49.7 percent between January 1997 and December 2013,” Humphries said. “But if you look just at homes in the Dallas-Fort Worth metro and within a quarter mile of a Starbucks, you see the Starbucks effect: Those homes appreciated 56.9 percent.”

Humphries said they were surprised by how decisive the results were.

“Over the past 17 years, we found that homes within a quarter mile of a Starbucks doubled in value, whereas the average home in the U.S. appreciated 65 percent over the same time,” he said.

Well, Dallas has Whole Foods locations in the Park Cities and Preston Hollow, two of the priciest neighborhoods in Dallas. But you can find Trader Joe’s on Lower Greenville, in Lake Highlands, and in Inwood Village — all up-and-coming areas with great character and rising home values …

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James A. Perry (via LinkedIn)

James A. Perry (via LinkedIn)

After a few negative headlines, including a potential FBI inquiry and some trepidation about some serious losses, the Dallas Police and Fire Pension System has created a new position to oversee the $3.1 billion portfolio that funds the retirement income of our city’s first responders.

The pension system has brought in Texas Tech University System assistant chancellor James A. Perry as the Chief Investment Officer. Perry has more than 20 years of investment management experience, according to the pension board. He’s overseen public assets in California and in Texas.

Perry is scheduled to start Sept. 1. He’ll report to the pension system’s executive director, Kelly Gottschalk.

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I’m sure you’re already well aware that school is about to start. I mean, if you’ve managed to ignore the commercials, advertisements, and the groans of youths heard all over the state, keep doing what you’re doing. If you’re frantically trying to figure the whole back-to-school rigamarole out, the last thing you want to do is worry about your daily commute to and from your kids campus.

Luckily, the folks at Briggs Freeman Sotheby’s International Realty have pulled together a great list of homes within shouting distance of great schools. Put a contract on one of these homes and enjoy a few extra minutes of shut-eye as you’ll live within blocks of your child’s school.

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The extra expenses beyond mortgage and insurance can add up, costing the average U.S. homeowner more than $9,000 per year.

The extra expenses beyond mortgage and insurance can add up, costing the average U.S. homeowner more than $9,000 per year.

At CandysDirt, we love real estate and we love homeownership! But with a house comes expenses beyond the mortgage and insurance. For the unprepared buyer, these can be a rude surprise. And nobody likes those.

We’ve seen it before: First-time homebuyers focusing solely on the list price of a house when deciding how much they can afford, and then being shocked by all of the other costs associated with homeownership (hello, water heater/new roof/foundation repairs!). These extra or hidden costs are often the most stressful part about owning a home.

“Those in-the-know are wise to set aside an emergency account, because regardless of age, price point, or quality of construction, issues are going to arise, whether it a 100-year-old house, or a 100-day-old house,” said Realtor Brian Davis of Dave Perry-Miller InTown. “When those issues happen, they’re not always inexpensive and you’re wise to have money saved up for that rainy day.”

We happened upon a new study by Zillow and Thumbtack that identifies a variety of common home expenses — both unavoidable and optional — that often get overlooked during initial budgeting. They calculated what homeowners could spend each year to cover these costs in their area. While these extra expenses might seem small individually, they add up quickly, to the tune of $9,477 for the average American homeowner.

“One thing I’ve stated doing this past year for new homebuyers is having them look at properties $10,000 less than what they’ve been approved for so they have some credit or buying power if they have to do repairs later,” said Elaine Copeland, an Ebby Halliday Realtor. “That also gives them some money for fixing it up—a lot of houses are sold ‘as is,’ and if buyers purchase $10,000 to $20,000 below [their max mortgage approval], they can better manage their budget in the long run. The best thing for a Realtor to do is advise them to do everything affordably.”

So just what are those extra or hidden expenses? Let’s take a look.

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ASID_Texas_Legacy_of_Design_Awards

It’s going to be a who’s who of the highest end interior designers and their ilk at the Grand Ballroom inside the newly renovated Renaissance Dallas Hotel this Wednesday, from 5:30 to 9 p.m., as the American Society of Interior Designers (ASID) Texas Chapter holds its annual awards gala.

 

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The Grand Ballroom inside the Renaissance Dallas Hotel got a makeover and it is fabulous! (Photo: Renaissance Dallas Hotel/Marriott)

The 2015 Legacy of Design awards will not only celebrate the finest interior design achievements in the Austin, Dallas, El Paso, Fort Worth, San Antonio, and West Texas design communities, but it will also mark the national organization’s 40th anniversary as the unified voice for interior design. Plus, attendees can expect a fabulous dinner from Chef Dean James Max.

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Marcia Phillips, CEO and President of Guardian Mortgage, with Candy Evans and Gayle Haley at the company’s 50th birthday celebration. Phillips recently retired from her position at Guardian. (Photo: Guardian Mortgage)

Since 1988, Marcia F. Phillips has been at the helm of Guardian Mortgage Company, a wholly-owned subsidiary of Strategic Growth Bancorp Incorporated. But it’s an end of an era as Phillips has retired from those positions and will become Vice Chairman of the company’s Board of Directors.

“Marcie Phillips, along with Cari McCue, the Company’s Chief Operating Officer, and Marcus McCue, Executive Vice President of Business Development, have been instrumental in developing one of the strongest corporate cultures in the rapidly changing mortgage origination and servicing industry,” said William D. Sanders, chairman of the Guardian Mortgage Board of Directors in a news release. “Every Guardian Mortgage colleague knows that providing service to the Company’s clients before, during and after the mortgage origination process is their most important responsibility. Marcie’s day-to-day involvement will be missed, but we will have her advice and counsel on an ongoing basis as Vice Chairman of the Board.”

Russell Anderson

Russell Anderson

Russell Anderson will fill Phillips’ shoes as the new president and CEO of Guardian. Anderson, a 30-year veteran of the mortgage industry, has extensive experience in home finance and mortgage companies, and will use that acumen to push Guardian forward as a national player in the industry.

“In a short time, I have developed a genuine respect for the entire Guardian Mortgage team, for Marcie Phillips, and the Company’s strong business culture,” Anderson said. “Guardian Mortgage celebrated its 50th anniversary earlier this year; I am excited to have the opportunity to lead Guardian Mortgage into its second half century.”With a solid leadership team in place, Phillips looks forward to her new role.

“I have been honored to be part of Guardian Mortgage for more than 39 years” Phillips said. “We have built a company that has integrity at the center of everything we do, and I am confident that Russ, Cari, and Marcus will continue that philosophy. As Vice Chairman, I look forward to watching the Company intelligently grow into a national enterprise and offering my thoughts, advice, and guidance as needed.”

Photo: Supreme Court of the United States

Photo: Supreme Court of the United States

The Supreme Court made a long-awaited ruling on whether tax subsidies for low-income housing in Dallas created segregated neighborhoods. The Texas Tribune has the most detailed report on the ruling, in which the high court ruled 5 – 4 against the state of Texas.

Under the Low-Income Tax Credit program, run by the Texas Department of Housing and Community Affairs, the state gives federal incentives to private developers to build or rehabilitate low-cost apartments, essentially engineering parts of a city’s geography.

The Inclusive Communities Project, a nonprofit devoted to fair housing issues, sued the TDHCA in 2009, arguing that the state doled out tax credits in Dallas in a way that packed minorities into poor neighborhoods and spared white neighborhoods from development of low-income housing. The result is that neighborhoods throughout Dallas remain segregated, the project argued.

We’ve talked before about how a massive, concentrated influx of public housing can affect a neighborhood, sometimes dragging down surrounding property values and creating a ghetto environment. One can hope that this will lead to a more inclusive plan to create and sustain economically diverse neighborhoods.

On the flipside, I’m sure that this ruling will have some wide-reaching affects on Dallas housing and the creation of new affordable developments in the city.

We’ll have more details and analysis as it becomes available.

 

 

Candy at Fox4

It’s no secret that I have a sick unique sense of humor. It even does mornings! This morning, bright and early, I was  delighted to be a guest on Channel 4’s Good Day with Dan Godwin, who was sitting in for Tim Ryan. The topic was our hot hot real estate market, and homes selling so fast it is getting hard to even find them as a consumer. I love TV but it goes so gosh darn fast. I explained months/days on market (6 months being normal in a balanced market), how we are now at a couple months of inventory (MOI) in both Dallas and Collin Counties, way below normal, with price points edging upwards just about everywhere in the Dallas metro area. Unfortunately, we ran out of time — I couldn’t present this chart of sales stats: (more…)