Dallas-Fort Worth topped the nation in new apartment completions last year — finishing almost 28,000 new rental units in 2017.

According to RealPage, the metro area’s 27,974 completions were part of the 395,777 completions for the 150 largest metro markets nationwide for the year. New York City’s 23,207 came in second, and Houston was third place with 21,404 new units. Austin made the top 10 with 10,907 apartment completions. (more…)

open house

(Photo courtesy Max Pixel)

Ask just about any homeowner who has ever sold a home — the looming prospect of an open house is daunting.

There’s the cleanup involved (it really doesn’t matter if you’re normally a very clean person, there’s just something about people coming into your home that brings you to your grout with a toothbrush at 3 a.m.) There’s the fact that strangers are coming to your house where your stuff lives, and you really, really hope they like what you’ve done with the house with your stuff. (more…)

real

Texas schools aren’t failing, but they’re close, Education Week’s annual report card revealed. The biggest mark against the state seems to be no surprise — school finance (we talked more about how school finance affects the real estate world here). (more…)

Dallas ISD

Demolition on the former Dallas ISD headquarters on Ross Avenue began last week, making way for luxury apartment units (Photo courtesy Kim Whitaker)

Demolition began last week on Dallas ISD’s former headquarters on Ross Avenue, and while part of the historic art deco design will be saved, you won’t be seeing any affordable housing coming from the 365-unit development that will replace it.

“Set to begin construction this summer, the four-acre luxury development known as ‘The Academic’ will include approximately 365 rental units ranging from 500 to 1,150 square feet, a six-level parking garage and a courtyard at the center of the complex,” developer Leon Capital Group said in a press release announcing the project. (more…)

holiday

The holiday season can be a great time to find a bargain on a new home, experts say (Photo courtesy Pixabay).

Why would anyone want to buy or sell a house during the holiday season? Who in their right mind would want to pack and move in the middle of all those Christmas parties, family gatherings, and other assorted holiday commitments?

Turns out, plenty of people like to take advantage of a traditionally slower period to go shopping for a new house. (more…)

Some days, the internet giveth. And today, she really didn’t hold back.

This property description for 626 Rainbow Drive by Dave Perry-Miller Real Estate (hat tip: D Magazine) is life-giving. Nowhere else will you find allusions to Princess Charlotte (so dear to our hearts), James Bond, and Snoop Dogg all coming together to recommend a piece of real estate. It’s an utter delight. But you can judge for yourself.

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John Larson, American Real Estate Investments

For folks not interested in riding the ups and downs of the stock market, John Larson may have the answer. Larson serves as Managing Partner of American Real Estate Investments. His nine-to-five consists of connecting investors with tangible, low-maintenance investments aimed at allowing its clients to “sit back and collect a check each month.”

American Real Estate Investments describes themselves as a turnkey real estate provider, meaning Larson’s firm buys properties, renovates them with higher-end materials, sells them to investors as rental properties, and then places tenants and manages the day-to-day business of renting. It’s a full-service operation for Larson’s clients.

(more…)

staffinvitefairpark28129Lutheran

NOTE NEW VENUE: KING OF GLORY LUTHERAN CHURCH, 6411 LBJ FREEWAY, NORTH SIDE ACCESS ROAD, WEST OF HILLCREST, EAST OF PRESTON ROAD

My husband often asks me about news from City Hall, how tax dollars are spent, things like that, because I am supposed to be the one “in the know”. He sticks to the grindstone of his daily (and nightly) professional life. He doesn’t have time to watch or read much more than headlines. So when he grilled me about the Fair Park plan that Mayor Rawlings has endorsed, I realized I didn’t have many answers for him.

Question: How much will this Park plan cost the city?

Answer: $21 million plus another $75 million in bond funds plus another $50m in bonds in 2020/2022

Question: What do we get for that?

Answer: That’s the management fee. They are going to re-vamp the existing buildings.

Question: Does the city make any money off the State Fair?

Answer: Doubtful. The State Fair contract (which lasts until 2024) would be assigned to the Foundation.  Any rental revenues would go to the Foundation.

Question: Can we fire the management of this new entity if they screw up?

Answer: There is a “Remediation Plan” if the Foundation doesn’t meet their TBD performance measurements.  BUT the plan doesn’t say firing, it says they’ll implement a plan to fix.  Hiring and firing resides with the Foundation. They kinda have a lot of power.

Question: Are they going to try to use Fair Park year round?

Answer: They say they’re looking to create a year-round venue. The Fair stays where it is.

Question: Are we getting a park?

Answer: No guarantee. They definitely have to PLAN for a park, but if they don’t feel they have enough money, they don’t have to build it.

Question: Then what are they using the money for?

Answer: “Expanding Fair Park staff and operations and maintenance; funding and creating new departments, including communication and donor relations; and funding new projects.”

The Foundation hereby commits to fully and completely support Fair Park as a public park, maintaining and managing the events, historic grounds and facilities, and grounds of Fair Park as a vibrant, year-round location for events, daily activities, cultural enrichment, and place for quiet enjoyment.

(See why I am so glad we are having a Panel Discussion tomorrow evening?)