Technology has revolutionized the real estate industry, helping home buyers and sellers save time and money. However, despite access to more information than ever before, most consumers still turn to a real estate agent to help them navigate the process and purchase their home. In fact, according to a 2018 Owners.com survey of recent homebuyers, 62 percent did their own home inventory searches online and 83 percent ultimately worked with an agent for the purchase.

“In recent years, the real estate industry has made data and information more readily available to consumers, which in turn has made them more knowledgeable going into the home buying process,” says Daniel Maloney, Head of National Sales at Owners.com. “However, it’s clear that home buyers still value the on-the-ground expertise and guidance that a local real estate agent can provide, particularly in a competitive market where consumers need to move faster than ever to get into a home.” (more…)

If you drive all the way north up Custer Road, you’ll come upon The Grove Frisco, a new 735-acre master-planned community by Newland. About 120 homes have been sold or are under construction in what Newland, the community developer with more than five decades of experience, calls a modern village. As you turn off Custer Road onto Gartner Road, The Grove Frisco feels different than an ordinary builder community under construction and it’s all about the trees and The Orchard House.

Recently, Newland’s Grove Frisco was named the Best Residential Community of the Year by Dallas Business Journal and The Orchard House was named Best Community Amenity by the Dallas Builders Association. The Orchard House is a modern farmhouse-styled clubhouse with fitness center, two pools, splash pad, and locally-owned Swirl Cafe & Bakery. (more…)

By Matthew Templeton
Managing Principal
KW Urban Dallas

Why is there so much movement in the iBuyer world?

First: What is an iBuyer?

An iBuyer is an institutional or business-based investor that uses automated valuation models (using data and algorithms to estimate value and trends over time) to make offers on properties in the market without actually having to have a huge workforce on the ground.

Who are these guys? Opendoor may be the one you’ve heard about the most. But also, Knock (a version of iBuying that gives you cash to buy the home you want before helping you sell yours), Offerpad, Coldwell Banker, Zillow Instant Offers (opened in Dallas on April 15), and coming in May to Texas, Keller Williams, according to Inman News this week.

How is this different than a traditional investor? In some ways, it’s not — individuals with bandit signs that say things like “we buy houses for cash” and companies like HomeVestors (“We Buy Ugly Houses”) with billboards have been models for decades.  

What’s different is that these institutional investors can buy properties at scale and their hope is to make money on the volume acquisition.  They claim to be purchasing at higher prices than a traditional investor (seemingly providing convenience for a slightly lesser price than retail).  The marketing pitch is slick. The idea behind it seems amazing — except that homes are not just data points. The fallout is yet to be determined.

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When the grand Aledo estate at 107 Nueces Trail was listed for the first time ever, Southern Living magazine called it “Every Texan’s Dream.” They quoted listing agent John Zimmerman, who was with Briggs Freeman Sotheby’s International Realty at the time, telling the Dallas Morning News it was “the biggest residential estate in Parker County that I can remember in the last 25 years.” He likened it to the JW Marriott San Antonio Hill County Resort, just north of SA’s outer 1604 loop. Methinks it’s more reminiscent of the La Cantera Resort and exotic like the Eagles’ Hotel California album cover — without all the connotation.

The Mediterranean estate naturally piques the interest of neighbors and all that see it on the horizon, and rightfully so. With a mission style silhouette set against the rolling plains west of Fort Worth, this 19,265-square-foot custom estate was meticulously-built for a Texas oilman and philanthropist. But simply type the first few letters of a Google search about the property and you’ll understand the folklore that surrounds the home: Who owns 107 Nueces Trail Aledo Tx, Nueces Trail Aledo builder, Biggest house in Aledo all pop up as popular search suggestions. Here’s a look inside the seven-bedroom, 12-bath “biggest house in Aledo” now on the market for $6.99 million, marketed by John Zimmerman of Compass Real Estate Texas.

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Property Tax

Photo courtesy Pixabay

So you’ve gotten that property tax valuation, and in the process of slamming it down on the table, you notice a giant crack on the ceiling.

“Surely,” you think, “if I take a picture of this, it’ll help me argue my case that the appraisal district did me wrong!”

Yes, and no.

See, it’s April 17 now, and that wear and tear you want to use to argue that the condition of your house does not match your valuation? That needed to be present on January 1.

“The value assigned to your property, by law, is the value the appraisal district estimates your property would sell for on January 1st of that year,” explained Glenn Goodrich, Goodrich Realty Consulting’s Director of Technology & Property Tax. GRC created PropertyTax.io last year to help people DIY their property tax protests, and this year, they’re debuting a second product that helps consumers argue condition issues when protesting their valuation. (more…)

property taxProperty tax bills will be hitting mailboxes this month, and if you’re like many homeowners in Texas, you might experience a bit of sticker shock.

And you might even think about protesting that valuation to get a lower bill, but where do you start? After all, the deadline to file a protest is May 15 — which is not too far away.

Luckily, one local business has made it quite easy to gather the evidence and file a protest — PropertyTax.io.

We first told you about PropertyTax.io last year, but for the uninitiated, it’s a web-based product developed by Goodrich Realty Consulting, first as a tool for their tax consultants to use in the company’s property tax division. Last year, they released the tool to the general public, and it is really shaking up the way people appeal their property tax bills. (more…)

You can test drive a car for the weekend or sample a high-end wine before you buy, so why can’t you sample a second home destination? At Cedar Creek Lake’s luxurious Long Cove community, you and your family can experience Long Cove’s numerous amenities at a Stay & Play preview weekend (Or any day of the week, really.)

For those looking to purchase or build a home in the master-planned lake community, Long Cove offers exclusive Stay & Play experience packages, which include lodging in one of their Camp Houses at Sunset Point, a food and beverage credit at the poolside grill, a shoreline boat tour, and full use of the community’s amenities including pool, golf, tennis courts, and fishing. They call it the ultimate hands-on, shoes off experience.

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Photos by Jennifer McNeil Baker

Wood and walls of windows make this 1979-built home feel like an homage to Midcentury Modern and Frank Lloyd Wright design, but has been updated with the clean style and amenities of today’s homes. This four-bedroom, three-bath, and one half-bath home at 6933 Delrose Drive in northeast Dallas is 3,835 square feet and listed by Marmie Leech of Compass Real Estate Texas for $1.65 million.

Designed as his own home, Dallas architect David Ludwick incorporated bringing nature into the living environment through glass window walls — a concept that architect Eddie Maestri later expanded when he and builder Jim Scott & Sons began the home’s renovation in 2017. Delrose Drive was featured on the popular 2018 Lakewood Home Tour and AIA Dallas Tour of Homes, the prestigious architect-curated home tour in Dallas.

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