Affordable homes continue to be listed in the Dallas area in the wake of the devastating tornadoes late last month. The four-bedroom pad at 3031 South Marsalis Ave. is recently renovated and ready for immediate move-in, according to Realtor Alicia Toney. It’s a short hop to Interstate 35 East. Oh, yeah, and it’s $179,000.

Affordable homes continue to be listed in the Dallas area in the wake of the devastating tornadoes late last month, as residents ranging from apartment-dwellers to estate-owners look to find temporary or semi-permanent housing.

The four-bedroom pad at 3031 South Marsalis Ave. is recently renovated and ready for immediate move-in, according to listing agent Alicia Toney. It’s a short hop to Interstate 35 East. Oh, yeah, and it’s $179,000.

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Rowlett sits on Lake Ray Hubbard, boasts nearly $1.5 billion in development, and is home to the Rowlett Wet Zone family water park. It’s also an underutilized, underrated area for housing.

Rowlett sits on Lake Ray Hubbard, boasts nearly $1.5 billion in development, and is home to the Rowlett Wet Zone family water park. It’s also an underutilized, underrated area for housing. This 6,882-square-foot, one-story home at 3013 Sandra Lane has four bedrooms, two bathrooms, and plenty of updates.

And for those who have a true crime fetish, well, you’re in luck. (more…)

The Royal Institute of British Architects awards the Stirling Prize to the best building of any type built in the UK during that year. First awarded in 1996, the Stirling Prize has been awarded to everything from the media gallery of the Lord’s cricket pitch in 1999 to the rebirth of a 12th century fortified manor ravaged by fire in 1978 reborn into the 20th century. Zaha Hadid has won twice, as has Foster + Partners. It’s a big deal.

This year, the award went to a public housing project that’s built to Passivhaus energy efficiency standards designed by Mikhail Riches with Cathy Hawley.  In total, the Goldsmith Street project by the Norwich City Council has racked up six RIBA awards. Called council housing in the UK, in the US we’d equate it with public housing, built by local governments to house a lower-income working class.

That this type of cost-conscious housing could win a design award is telling. That it could also be so energy efficient, tells more. In addition to being affordable to construct, tenants’ energy bills are estimated to be 70 percent lower than normal – bringing running costs down further.

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Dallas rent prices took a small dip in a recently-released report for October, Mesquite breaks ground on a new mixed-use community, and Southern Gateway deck park moves forward, all in this week’s roundup of real estate news.

Dallas rent prices took a small dip in a recently-released report for October, Mesquite breaks ground on a new mixed-use community, and the Southern Gateway deck park moves forward, all in this week’s roundup of real estate news.

Dallas Rent Prices Decline Slightly This Month

A very slight decrease in Dallas rents was reported for the month of October, but don’t get too excited. Numerous figures and comparisons are compiled – and this good news is just for the month. Overall annual numbers show rent is on the rise in Dallas and just about everywhere else.

Rent growth, median prices, and market trends are tracked monthly by Apartmentlist.com, whose report for October shows the following local data:

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If you haven’t been to the Bishop Arts District lately, it’s probably because you couldn’t find a place to park, but here’s some good news if you’re not afraid to hop on a 10-speed.

You can buy the cutest little house, move in, and ride on over to the Bish, la Arts, the BAD, or whatever other nicknames you want to call arguably one of the hottest spots in all of Dallas.

Listing agent Jenni Stolarski of Compass lives in Oak Cliff herself. She knows the area and always seems to snag the best houses.

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Farmersville, Texas, is the home of war hero Audie Murphy, the onion capital of the state, and a best-kept secret when it comes to affordable housing.

Farmersville is the home of war hero Audie Murphy, the onion capital of the state, and a best-kept secret when it comes to affordable housing.

This Weekend One Hundred selection at 1402 Pecan Creek Drive in Farmersville has four bedrooms and two bathrooms with numerous updates.

And it wouldn’t be Farmersville without an actual barn door in the master closet.

The 1,559-square foot home is adjacent to a creek and greenbelt area on the quiet end of the street just a two-minute drive from Lake Lavon.

“This is the most outstanding value and a meticulously maintained home,” said Realtor Lisa Flaggert of Coldwell Banker Apex. (more…)

Dallas

Photo courtesy Wikimedia Commons

By Phil Crone
Executive Officer, Dallas Builders Association

Dallas and surrounding areas have obviously experienced remarkable growth over the last few years, especially with commercial construction and multifamily. Residential development struggles to keep pace with builders primarily focusing on infill lots and small-scale, shared access projects. Dallas permitted just over 2,000 homes last year and is on track for a similar figure in 2019.  

Dallas is also not exempt from the impact of rising housing costs. It is well documented that the city needs 20,000 affordable housing units. In the single-family context, new affordable housing needs to be priced around $250,000 to $350,000. Getting there is especially difficult in Dallas, with land prices and, in some cases, neighborhood opposition to new affordable homes. 

While some factors are out of our control, we need to take ownership of what we can. The stakes are too high not to. Homeownership remains the number one path to wealth creation for the American family, and the attainability of that dream here in D/FW remains a primary impetus to job creation. However, for too many people, homeownership is becoming less attainable, the drive to work is getting longer, and the options for safe, quality homes at a reasonable price are getting fewer. 

A major barrier to affordable housing in Dallas is the city itself. Development processes are not operating as efficiently and effectively as they should. Attempts to build attainable housing suffer disproportionately from these unforced errors. 

This is not a new issue. Builders, developers, and small business owners have bemoaned Dallas’s lack of transparency and predictability for years, yet Dallas has succeeded in spite of itself. 

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Photo courtesy Flickr/Woodleywonderworks

From staff reports

How much do you need to make per year to afford a home in Dallas? According to one report, less than $60,000.

But is that true? According to CNBC Make It, they’ve identified 15 cities where the qualifying income to purchase a home with 10 percent or 20 percent down is an annual salary of $60,000 or less. 

They’ve based this determination on data from the National Association of Realtors’ Metropolitan Median Area Prices and Affordability index. It also assumes a 4.1 percent interest rate, and a monthly principal and interest payment that is 25 percent of a homebuyer’s income, or less.

According to CNBC’s number crunchers, Dallas made the list. And it’s not too surprising, after all, another study from Zillow found that someone with a high school diploma and no college hours at all could afford (in theory) to buy a home in Dallas.  (more…)