From Staff Reports
With lumber tariffs already adding more than $6,000 to the price of every new home in Dallas, President Trump’s decision this month to escalate the trade conflict with China has builders bracing for more challenges to housing affordability. This decision could wind up imposing a $2.5 billion tax increase on residential construction, according to the National Association of Home Builders.
Trump announced he is moving immediately to impose 10 percent tariffs on an additional $200 billion worth of Chinese imports, including $10 billion of goods used by the home building industry. This 10 percent levy represents a $1 billion tax increase on residential construction. Making matters even worse, the tax hike will rise to $2.5 billion on Jan. 1 when the president said the tariff rate will jump to 25 percent if the two nations have not resolved their differences by year end. If China retaliates, Trump has vowed to place tariffs on an additional $267 billion worth of imports. The NAHB has strongly opposed this move.
It’s a big week for market watchers, says Bob Johnson (AKA BobMortgage), senior mortgage adviser at the nation’s oldest private lender, Wallick & Volk, in the 74th episode of the Mortgage Report.
According to our most-trusted mortgage expert, it’s take-it-to-the-bank certain that the Federal Reserve will raise the Fed Funds rate this week. However, don’t freak out, says BobMortgage, as he walks you through the cause and effect of what happens when the Fed raises rates and how it affects mortgages. Learn more now so you can educate your clients on how this news will affect them:
You’re probably already familiar with the Lake Terrace neighborhood of East Dallas, though you might not know it yet. Bounded by Northcliff Drive, Peavy Road, East Lake Highlands Drive, and Kirkwood Drive, this little area features some wonderful midcentury modern homes and post-war ranches, some of which have been lovingly preserved and updated. When David Griffin & Company Realtor Jennifer Rice told me she would soon have an East Dallas midcentury modern on the market, I was so pleased to find out that it was not only a splendid example of a Lake Terrace midcentury modern, but that it was the personal home of her and her husband, Joshua.
Why is that important? Because he’s the Joshua Rice behind Joshua Rice Design — an interior design firm that does amazing work in several contexts, as well as bespoke furniture design. He honed his skills under the acclaimed Bodron+Fruit and has gone on to work on some of the most significant modern homes in the city.
So in 9810 Northcliff Drive, sited right across the street from award-winning Hexter Elementary, you get a high-impact capsule of midcentury modern design completely renovated by a celebrated interior designer and marketed by an especially popular Realtor. If that doesn’t say “power couple,” we might as well redefine the term.
All the more reason to name this exceptional property, which hits the market this week, our High Caliber Home of the Week presented by Lisa Peters of Caliber Home Loans. We know you’ll fall in love with this Lake Terrace midcentury modern, so call Lisa Peters today to put in your highest and best offer on this one-of-a-kind home.
Fans of Frank Lloyd Wright will fall in love with this exceptional, thoughtfully designed contemporary that captures the most alluring elements of the natural environment and translates them into a structure that harmonizes with its surroundings. That’s what Janelle Alcantara feels about this gorgeous home designed by architect Doug Guiling of GAIA Texas. The stunning estate, set on a beautiful creekside lot, is not only beautiful on the outside, but it’s functional throughout.
It was love at first sight for us with this High Caliber Home of the Week presented by Lisa Peters of Caliber Home Loans. And truly, this house has everything you could ever want wrapped in bold lines, bountiful natural light, and top-of-the-line finishes. And it lives just as good as it looks, too.
“This house is so different from the formula that other builders use,” Alcantara said. “Other builders design houses with as many large, open spaces as possible. This typically means there is a “wow” factor when you open the front door. However, with that comes little regard for how people actually live in a house. Often, the ability to furnish a house, with proper seating arrangements, lighting, and viewing angles of the TV are sacrificed along with the lack of privacy that occurs when the whole house is visible from the front yard.”
This contemporary in Hockaday Square offers bright interiors without sacrificing privacy from the curb.
Yet another Cliff May that was on the Casa View Cliff May Home Tour is hitting the market.
I really can’t blame Ben Smithson for deciding to sell his lovely Casa View Oaks Cliff May, as appreciation for these adorable midcentury modern ranches has soared — as have prices for these California cool designs. We just reported that one Cliff May on Andrea Lane was listed for a record-setting $345,000, and now Smithson and his wife, Erin Davis, are listing their Cliff May featured in the inaugural Casa View Cliff May Home Tour for $315,000.
Listing agent David Collier of David Griffin & Company’s Collier Rice team is excited to list this lovely example of an East Dallas midcentury modern.
“You can tell immediately when you enter this home that both of the sellers are in the design business,” Collier said. “Details are what makes the difference in a property and this home is full of them!”
News reports that came in over last week had drastic affects on the mortgage market, says Bob Johnson (AKA BobMortgage) in this week’s Mortgage Report. If you follow BobMortgage on Instagram, you could have caught his conversion from a “float” position to a “lock” position as the bond market took a spectacular dive.
This morning, our most-trusted mortgage expert and senior mortgage adviser at the nation’s oldest private lender — Wallick & Volk — shows how positive job growth numbers actually stoked some fear of inflation, and why tariffs are drastically affecting the market. Learn more about the mortgage market to better serve your clients in this week’s Mortgage Report with BobMortgage:
Depending on where we are in the real estate market’s cycle, it might be more financially advantages to rent rather than buy a home. According to CNBC’s Dana Olick, it’s better to rent than to buy in today’s market. But is that really the case?
Take a look at the fact and figures in the 21st episode BobMortgage Zone with Bob Johnson (AKA BobMortgage), the senior mortgage adviser at the nation’s oldest private lender, Wallick & Volk. What do you think?
A new build at Hockaday and Snow White was tagged by what some nearby homeowners allege to be a disgruntled neighbor. The brick home had “GREED” scrawled on the Snow White-facing side over the Labor Day weekend, according to NextDoor posts.
At least one person is less than thrilled about new builds going up in Northwest Dallas‘ Forest Knoll Estates neighborhood, north of Royal Lane near Midway Road. The first clue is the giant word “GREED” scrawled in spray paint on the Snow White-facing side of this Hockaday Drive spec build from ICF Custom Homes. The second clue is the barrage of posts on NextDoor speculating just who would do such a thing.