report_highlights_hpi_2014_05_may

I managed to pry myself away from the USA vs. Belgium World Cup match for long enough to tell you about the CoreLogic May 2014 HPI Report. Taking time out to write this was more difficult than scoring a goal on Tim Howard. But, this is news you can use, y’all, much like a stiff drink after the first extra time period.

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Home For Sale Sign Dallas

To put a cap on our National Association of Real Estate Editors spring conference report, let’s talk about the future of the real estate market.

Just yesterday, reports from the U.S. Commerce Department came in showing a much weaker economy in the first quarter than initial reports claimed. And on Tuesday we saw reports of cooling home price growth in North Texas’ key metro areas. So, what does it all mean for our economy, both long term and short term, and how can real estate professionals prepare?

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10245-Strait-Lane-ext-575x383There is good news today for the Dallas luxury real estate market, and one reason why there has been a flurry of mega mansion home sales the last few weeks.

There are more rich people in Dallas. According to Longnecker & Associates, a Houston consulting firm asked to compile data for the Dallas Morning News, Dallas area top execs are getting fatter paychecks. This is because most CEOs and execs get moneyed-up from stock dividends. And stock prices for most of Dallas-Fort Worth companies soared last year, churning out hefty financial packages for our top execs. (more…)

I-345 MeetingDallas is a fascinating place to live right now. Downtown, urbanists are lobbying for the tear-down of a short but squirrely elevated highway they believe is choking urban living, creating a schism of disruption between neighborhoods and sucking up dirt that could be developed as housing units. Go north of the Park Cities to the junction of Preston Hollow and University Park, an entire neighborhood is battling MORE housing units: a proposed luxury, 220 unit apartment complex that would replace dilapidated, tired housing built in the 1950′s. “No” signs can be seen all the way north to Forest Lane, west to Midway Road. Homeowners with ranches valued from $300,000 to $3 million dollar plus estates are so worried about increased traffic, so protective of the peace of their neighborhood, they have hired a seasoned attorney to represent them before the Dallas Plan Commission. Even former mayor Laura Miller is piping in, demanding a new proxy City Councilman to replace the current proxy. East of Central Expressway, investors want to build a restaurant on park land at the northern end of White Rock Lake, just off Mockingbird Road. Though they are just “feeling out” the neighborhood before plowing ahead, most of the feedback has been pretty negative, especially in a neighborhood known for fiercely defending it’s urban lake. Two years ago this ‘hood battled a plan to mow a meadow called Winfrey Point and turn it into a commercial parking lot. Don’t mess with Lakewood. (more…)

Athena exteriorYou know all about the fracas Behind the Pink Wall, the “No” signs all over Preston Hollow. And you know that former Mayor Laura Miller (and former City Councilman Mitchell Rasanksy, both of whom live in Preston Hollow) have asked Jennifer Gates to get another proxy beside City Councilman Lee Kleinman because he isn’t “willing to listen enough” to homeowners who live up and down Northwest Highway who are concerned about increased traffic from this project, homeowners from as far away as Central and Midway Hollow. (more…)

Belk grand opening

As you may know, the City of Dallas is getting very serious about saving two near-comatose shopping malls: Valley View Center at the intersection of LBJ and Preston in the north, and Southwest Center Mall in the south. The council is considering a budget of around $432 million, most of it aimed at helping the five major property owners between Valley View and the Galleria create what Beck Ventures are calling Midtown Dallas. We’ve talked about Midtown Dallas before, and how excited (and lucky) we are that a private developer wants to transform a weary mall into an exciting development. Turns out, we can thank my City Councilman Lee Kleinman for suggesting a TIF to finance the project and for making a large park a substantial centerpiece of the project. Kleinman recently told the Dallas Morning News that while infrastructure creation is a big part of this TIF (tax increment financing),  it’s not the biggest part of it. The notion of the park up at Valley View is way cool, think Klyde Warren north.  Lee really loves parks as he has been on the board of the Dallas Parks and Recreational Department, and is a founding board member of Friends of Northaven Trail, and Friends of White Rock Creek Trail. Those groups have created a fine network of linear parks, commuter and recreational bike and hike trails in Dallas, plus sites for community-oriented events. (more…)

Dallas Mobile Migration Map with Top 20

Everybody knows Dallas is a city of transplants. You’re as likely to meet someone from Berlin or from Seattle here as you are someone who’s a born-and-raised, cowboy-boot wearin’  Texan. Our city is growing by leaps and bounds and is consistently ranked as one of the top-five fastest growing cities in America. So it makes sense that we’re welcoming transplants from all over the country.

But where are the MOST coming from?

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6607 Desco ext

Last Thursday an interesting radio phenomenon took place: Paige and Curtis Elliott of Dave Perry-Miller & Associates, and home owner/designer Anna Seyffert, had the guys from KVCE AM 660 out to the house for a live radio broadcast at their listing,  Anna’s house, 6607 Desco Drive in Dallas. The show, Real Estate Talk with Willie Lambright was broadcast Sunday at 5 p.m. on 660 AM The Answer, and then ALSO on KVCE AM 1160 – DFW’s Business Authority at 10am (more…)