Dallas City Center Realtors changes its name and brand, housing affordability is at a three-year high, W Dallas Hotel draws a buyer, and Coldwell Banker introduces RealSure programs in Dallas, all in this week’s roundup of real estate news.
Dallas City Center Changes Brand To Paragon Realtors
Dallas City Center Realtors announced last week a name change to Paragon Realtors and new branding campaign slated to roll out in 2020.
“The word ‘Paragon’ means ‘a model or pattern of excellence’ and reflects the hallmark reputation of Dallas City Center agents for nearly 20 years,” marketing coordinator Ashton Graves said in a press release.
Broker Mike Miller said the team is excited to have a brand that works for agents in the diverse marketplace they serve.
“Our agents work in a dozen counties from the Red River to Cedar Creek Lake, so it’s important that the name on the sign supports them and their reach,” he said.
After acquiring the Sherman office of Virginia Cook Realtors in the spring, Dallas City Center officials began thinking about a new name to highlight a high standard of excellence.
“The attention and reaction to the brand when we acquired the Sherman office got us thinking,” said Yvette Grove, director of coaching and training for the firm. “Many of our agents wanted a stronger brand presence and we felt this was a great way to do that; the name truly reflects the commitment our agents have to their craft.”
The firm was founded in 2001 and has four offices across North Texas.
Housing Is Now More Affordable Due To Lower Mortgage Rates
A persistent decline in 2019 mortgage rates means that housing is more affordable than it has been at any point over the past three years, according to analysis by the National Association of Home Builders and Wells Fargo.
Freddie Mac data shows that mortgage rates now sit at 3.69 percent, more than a full percentage point below last year, when they were at 4.94 percent.
“And that full-percentage-point-drop has been very good for homebuyers, as the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows that housing affordability climbed in the third quarter to the highest level since 2016,” states a news release issued by Housing Wire.
Source: Housing Wire
W Dallas Victory Hotel Sold To Partnership
The 252-room W Dallas Victory Hotel has been acquired by a partnership between HN Capital Partners and Dunhill Partners, Inc.
JLL marketed the property on behalf of seller Estein USA, acquiring financing through Starwood Property Trust.
The 33-story hotel at 2440 Victory Park Lane, features a restaurant, lobby bar, terrace bar, pool, and more than 10,000 square feet of meeting and event space. The mixed-use Victory Park development also has 5,700 residences and more than 2 million square feet of office space.
Coldwell Banker Introduces RealSure To Dallas
A new program introduced by Coldwell Banker offers an alternative option for consumers to buy or sell a home.
RealSure, available now in Dallas, “combines the expert guidance of a trusted affiliated agent from Coldwell Banker with the flexibility and certainty of two distinct programs: RealSure Sell and RealSure Mortgage,” said Coldwell Banker representative Gabriela Ruiz in a press release.
RealSure Sell “offers sellers with qualifying properties a compelling cash offer immediately upon listing,” according to the release. “The cash offer is valid for 45 days, and during this ‘peace of mind’ period, the seller has assurance their home will sell by having a cash offer in hand while the home is marketed by a trusted real estate advisor in pursuit of an even better price, giving the seller unmatched control and flexibilty.”
Sellers enrolled in RealSure Sell can use RealSure Mortgage to make an offer on their next home before the current one is sold by leveraging their cash offer.
“This is an exciting opportunity for home sellers in Dallas since the RealSure launch offers two new programs for consumers to sell and buy their home with the guidance of one of our great affiliated real estate agents,” said Charles El-Moussa, president of Coldwell Banker Texas. “It is also exciting for us as we continue to arm our agents with unique programs to better serve their clients.”