Photo by Celisa Meals

You may not have heard of Toor yet but get ready. Come August, the Dallas-based, high-tech lock box company plans to unleash a multi-platform media blitz highlighting its progress since first garnering national television attention in 2016

“We are excited to turn the marketing machine on and make sure that everyone’s aware that Toor is not only great for real estate but also for delivery,” founder Junior Desinor said.

Two years ago,  Desinor was a successful Realtor looking jumpstart a new venture.  He had applied for a patent on his lock box design and raised more than $100,000 through a Kickstarter campaign. Then he appeared on television’s “Shark Tank”  where the judges (aka “Sharks”) praised him for being one of the best salespeople they had ever met.

“All in all ‘Shark Tank’ was an incredible experience,” he said. “I would encourage any entrepreneur to give it a go. The free publicity for a business is a no-brainer.”

(more…)

Home prices in North Texas broke more records last month, according to reports. Properties in Far East Dallas are selling for close to $300K in some cases, such as this one at 2031 Housley in Casa View, which is listed for $279,000.

Far East Dallas is swarming teeming with work trucks as investors, eager to catch the wave of demand within inner-loop neighborhoods, remodel homes on these close-quartered blocks. But even with all of the flippers tacking up new drywall and painting these post-war ranches varying shades of gray, supply of move-in ready homes hasn’t kept up with demand. Because of these market dynamics — the Dallas-Fort Worth-Arlington metro area’s net population growth is at about 974,000 new residents since 2010 — prices are surging, breaking new records.

Of course, one can’t help but wonder if this breakaway price growth could mean that a bubble is about to burst …

(more…)

The Margaret Hunt Hill Bridge in Dallas. (Photo: Pixaby)

Metrostudy’s 4Q17 survey ranks Dallas-Fort Worth the top new home market in the nation. According to the report, DFW builders started 33,243 homes in the past twelve months, of which 8,561 started in the fourth quarter. The survey, which compares 4Q17 to 4Q16, reveals new home starts jumped by a whopping 16.9 percent — a major indicator of builders preparing for a strong spring selling season.

(more…)

Realtor.com just released their annual housing forecast for 2018, which predicts national inventory growth will trend into positive territory for the first time since 2015. The forecast ranks top housing markets for 2018 based on sales and price gains, and named Dallas-Fort Worth-Arlington No. 2 in the nation.

“We are forecasting next year to set the stage for a significant inflection point in the housing shortage,” said Javier Vivas, director of economic research for realtor.com. “Inventory increases will be felt in higher priced segments after home buying season, which limits their impact on total sales for the year. As we head into 2019 and beyond, we expect to see these inventory increases take hold and provide relief for first-time home buyers and drive sales growth.”

(more…)

Don’t forget the exciting educational experience on tap for you this evening down in State Thomas, one of the most desired neighborhoods in Dallas because it is truly historic. You will also hear — and we will report on — how Uptown got its start from the mouths of the very founders. Next week we will look inside the exquisite home of Patricia Meadows, one of the very first ST settlers who relocated out of the Park Cities and had the vision to build a beautiful home in State-Thomas. And Patricia will be speaking tonight.

Do stop by. It’s truly seldom that these homes are open. 

(But if you cannot, never fear: CandysDirt has you covered!)

Event Details

Thursday September 21, 5:30 – 7:30 p.m.

2707 State Street

Wine and hors d’oeuvres

6:15 pm—Welcome Remarks, Patricia Meadows

“The Birth of Uptown”

2707 Hibernia Street, 2309 Boll Street, and 2315 Routh Street will also be held open for tours, with door prize drawings. Please RSVP by September 19 to 972-407-2591 or via email to Mary Alice Garrison at Maryalice.garrison@alliebeth.com.

Scrolling through my Google alerts, I saw this piece from Forbes about the top markets for real estate investment for 2017. Of course, I was ambivalent about Dallas being ranked No. 1 by Local Market Monitor, as high prices could be allayed by more construction of affordable single-family homes, but while clicking through the slideshow (my least favorite data presentation for websites), my eyebrows shot up at the sight of what Forbes purports to be Fort Worth. 

(more…)

Well that was unexpected. WFAA is reporting that Khraish Khraish, the West Dallas landlord threatening to evict hundreds of residents, is now offering to sell to them. Khraish credits what WFAA is calling a “change of heart” to conversations with Dallas City Council run-off candidate Omar Narvaez. Before the plan’s formal announcement, Khraish had already begun inking deals. The terms of the sales are the same for each house.

Khraish will provide 20-year mortgages at a fixed 4.75 percent interest rate. The new homeowners will pay about $425 per month, with an additional $150 in property tax, making their total monthly payment about $572, not too much more than what most are paying in rent alone now, he says. If a new homeowner decides to sell the home in less than 10 years, Khraish will have the right of first refusal to buy it back.

(more…)

townhome4

We called it. When we first heard of Sphinx Development‘s plans for a townhome community just west of Corinth and south of Cedar Creek, we had a feeling it would sell out quickly. There’s a dearth of new construction in the $200,000 range, and plenty of opportunities for infill just east of North Oak Cliff. So we’re not surprised in the least to hear that all 49 units of the development’s initial phases have been snatched off the market.

The Fiji Townhomes development, marketed by Virginia Cook Realtor Angela Downes, will soon launch a third phase that will include lofts and retail, as well as office space. According to Sphinx, Phase Three will be ready for occupancy in 2018.

(more…)