A well-known Dallas real estate gem will be open for tours next month, one in four of American mortgage holders don’t know what their rate is, and accessibility for those with physical disabilities goes without much consideration in the local housing market, all in this week’s roundup of real estate news.
Dilbeck-designed Lobello House Open For Tours March 7
Reconstruction of the well-known 1962 Lobello House is complete, and ready for public viewing March 7.
The gorgeous home, designed by Charles Dilbeck, was destroyed by fire just a few years ago and is on a must-see list for many interested in the great homes of Dallas. Reconstruction was finished using the original Dilbeck plans as a guide.
“The house was scheduled to be on our Fall Architectural Tour last October and we had to take it off of the tour as the work was not completed enough where it would have been safe or enjoyable to see the property,” said officials with Preservation Dallas, which is hosting the March 7 tour. “Now it is gorgeous and ready for touring.”
Those who purchased tickets for the Fall Architectural Tour will be able to see the house as part of their previously-paid fee. More ticket information will be available soon on the Preservation Dallas website.
Source: Preservation Dallas
Most People Don’t Know Their Own Mortgage Rates
About 27 percent of mortgage holders do not know the interest rate on their current residence, according to a new Bankrate.com study.
In fact, more than half of American homeowners never plan to move from their current home, Julie Guacci, a Bankrate publicist, said in a press release.
The following findings also were released:
- Millennials (ages 24 to 39) with a mortgage are more likely to be unsure of their rate (32 percent) compared to 24 percent of Gen Xers (ages 40 to 55) and 23 percent of baby boomers (ages 56 to 74).
- Less than one in three (31 percent) homeowners with a mortgage indicate that their rate is below 4 percent, while nearly one in five (18 percent) say their rate is at least 5 percent.
- Less than a quarter of homeowners (21 percent) think they’ll move in the next five years, while 63 percent say they are at least somewhat likely to renovate or remodel their current home during that time.
- Of those likely to upgrade their current home, 10 percent plan to turn to credit cards. Millennials (19 percent) are more than twice as likely as Gen Xers (8 percent) and more than three times as likely as baby boomers (5 percent) to do so.
Dallas Doesn’t Make The Grade In Accessible Housing For Those WIth Physical Disabilities
Accessible and affordable housing is a serious challenge for those with physical disabilities, according to a study released by Apartment List last week.
The study concluded that:
- Accessible homes are poorly matched to the families that require them. Only 9 percent of Dallas’ accessible homes are occupied by a household that has a physical disability.
- Affordability is a major concern for renters living with a physical disability. In Dallas, 61 percent spend more than one-third of their income on rent. The cost-burden rate is 17 percentage points higher for those without a disability.
- Nationwide, accessible homes are also 10 percent more expensive than non-accessible ones, even after controlling for their size and location.
Source: Apartment List