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2553 Kathleen Ave., Dallas

Last month, we went on a search to find the cheapest habitable home in Dallas — not only to prove they exist but also to highlight a market that doesn’t get the attention it needs.

And after that story was published, we heard from readers who asked for more. Today, we’re going to take a look at two houses, with one needing a little more spit and shine than the other, but both immediately habitable. (more…)

If it’s Red, full steam ahead; if it’s Yellow, say “hello;” if it’s Blue, you might’ve missed your queue.

Last week, Seth Fowler wrote about a client of his looking for a home in the sub-$200,000 market close to his job in Bedford.  “Ted” had been on a roller coaster of 43 showings and 11 contract offers … still without a home eight months on and counting. In today’s Dallas, it’s a story that’s been accelerating since the housing market began recovering in 2013. While slacking in the upper end of the market, the entry level remains full steam ahead.

Also last week, Alex Macon posted on D Magazine’s Frontburner about the legacy of redlining and a new set of charts overlaying 1930s redline maps against the current racial makeup of Dallas (U.S. Census data).  It’s clear that the 30-year pox of redlining, from the 1930s until 1968, still infects the Dallas landscape (as it does nationwide in many previously redlined areas).

But what’s the reality? I’m going to find out.

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According to ABODO, Dallas' 75216 Zip code is a hotspot for flippers. (Map: Google Maps)

According to ATTOM Data Solutions, Dallas’ 75216 Zip code is a hotspot for flippers. (Map: Google Maps)

Flipping a home is more of an art than a science. While budgets should be a consideration for any real estate investor, creating a home that someone wants to live in so much that they’ll put in an offer above asking price is paramount. But that’s tough in some areas where lot values are skyrocketing and materials costs are through the roof. But more budget-friendly areas, neighborhoods where you can get a lot of house for a little, are becoming more attractive to flippers.

In Dallas, that area is the 75216 Zip code. For the uninitiated, that’s a vast swath of southern Dallas between Interstate 35 East and Interstate 45 just north of Loop 12. Neighborhoods such as Cedar Crest. Interestingly enough, according to Realtor.com there are just 84 single-family homes on the market in this area, and 152 listings total. Seems like a hot area, but that could change because flipping is actually slowing down. At least that’s what ATTOM Data Solutions says.

The company, which calls itself the “curator of the nation’s largest fused property database,” said that the number of homes flipped in the US has actually decreased from the 6-year high reached in the previous quarter. That’s falling from a 5.6 percent flipping rate to 5.1 percent, or from 53,892 flipped homes to 49,305. Flippers buying with cash accounted 67.9 percent, down from 68.2 percent in the previous quarter and down from 69.0 percent in Q3 2015 to the lowest level since Q3 2008 — an eight-year low.

According to ATTOM, a flip is a home sold for the second time in a 12-month stretch. The company surveys more than 950 counties, which comes out to approximately 80 percent of the American population. Let’s see what that looks like in 75216.

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