Less than half of Dallas-Fort Worth residents can afford new homes in the region, according to the Dallas Builders Association.

Recent data from the Real Estate Center at Texas A&M University paints a pretty bleak picture for housing affordability in the Dallas-Fort Worth area. More than 100,000 new jobs regionwide netted just 30,000 new homes by the end of last year, according to stats from Meyers Research and the Dallas Builders Association. The median home price, thanks to the scarcity of new builds, jumped from $149,900 in 2011 to $232,000 in 2016. 

The end of the affordable new home is nigh, it seems. 

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Homes in historic Dallas neighborhoods are selling like hotcakes, mostly for the reason they were preserved in the first place: character. These areas fit a human scale that has long since been rendered incompatible with modernity, but still, that comfortable nostalgia makes them all the more desirable. 

And while East Dallas is already phenomenally popular, the Vickery Place area is coveted even more so, thanks to its prime location near Greenville Avenue, it’s fantastic proximity to downtown Dallas, and the walkable nature of this neighborhood, originally platted in 1891. What’s really great is all of the investment happening here now, with families buying up homes and taking the time and care to bring them up to today’s standards. An absolutely stellar example of this is the beautiful one-story Craftsman bungalow at 5417 Willis Ave.

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On average, the North Texas labor shortage is adding two months and $4,000 to the cost of every home.

By Phil Crone
Executive Officer, Dallas Builders Association

“The guest worker program unnecessarily lowers construction worker wages.”

“Put simply, there is no construction labor shortage.”

“It’s five o’clock somewhere. And maybe there’s a construction worker shortage, too, somewhere. But it’s not significant in the U.S., and it’s not very widespread.”

Would you believe that all of these are recent quotes from organizations involved in the construction industry? Believe it or not, they were recently published in Illinois and Michigan. I share them because I want to illustrate the labor demand difference between the laggers and leaders of our nation’s economy. It also demonstrates the uphill battle that looms for any type of legislative fix for immigration and long-term cure to our labor shortage.

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ribbon cutting

Ribbon Cutting for the new playground at Griggs Park. Nolan Marshall stands with Katy Slade, Philip Kingston, Paul Simms and his daughter.

“Griggs Park is one of the features that makes Uptown more sustainable. Uptown has a tendency to over-invest in private infrastructure and under-invest in public infrastructure,”noted District 14 Dallas City Councilman Philip Kingston at the Tuesday ribbon cutting of Griggs Park’s new playground. “This will soften the hard edges that tend to be created in high-density neighborhoods.” 

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Mortgage Report Bob Mortgage New

Military spending can be a significant buoy to a domestic economy, but a less-than-optimistic jobs report could hamper that growth. What effect will these issues have on mortgage interest rates? Bob Johnson (AKA BobMortgage) shares his opinion in today’s Mortgage Report.

You may know him as Bob Johnson, the senior mortgage advisor at Wallick & Volk, the nation’s oldest privately-held mortgage company. Bob Johnson has helped more than 25,000 families get into the homes of their dreams, in 20 plus years of lending service.

Now with five offices across the DFW metroplex, the nation’s oldest mortgage firm is helping thousands of consumers get into homes with the most up-to-date financial information possible. Wallick & Volk brings experience and integrity into every single loan, but they also deliver a highly personalized touch that conforms to each client’s need. Is it speed of delivery, unique products, total transaction transparency, or great pricing you need? Wallick & Volk has it all in a broker-friendly banking platform that can do the impossible when it comes to home financing.

THIS WEEK: The military’s next steps after the U.S. airstrikes on Syria could be key to mortgage interest rates. Which way will they go?

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How do you stage a home with pets? Professional dog trainer Will Nadeau answers.

How do you stage a home with pets? Professional dog trainer Will Nadeau answers.

By William R. Nadeau
Special Contributor

As a professional dog trainer, I am often asked for pet advice for all sorts of doggie dilemmas. One question frequently comes up among clients who are selling their homes: “What do I do with my pets if my home has a showing?”

Since moving to Dallas, in addition to my dog training business, I have been involved in real estate staging. I often think of home staging solutions for pet owners because you are, of course, trying to sell your house — but you love your pets and care about their well-being!

Here are a few options:

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Mortgage Report Bob Mortgage New

What’s bad for the stock market is good for bonds and mortgage rates, says BobMortgage in the latest Mortgage Report brought to you by Wallick & Volk. But what will the stock market do? How much will the fallout of a very crucial healthcare policy vote influence mortgage rates?

You may know him as Bob Johnson, the senior mortgage advisor at Wallick & Volk, the nation’s oldest privately-held mortgage company. Bob Johnson has helped more than 25,000 families get into the homes of their dreams, in 20 plus years of lending service.

Now with five offices across the DFW Metroplex, the nation’s oldest mortgage firm is helping thousands of consumers get into homes with the most up-to-date financial information possible. Wallick & Volk brings experience and integrity into every single loan, but they also deliver a highly personalized touch that conforms to each client’s need. Is it speed of delivery, unique products, total transaction transparency, or great pricing you need? Wallick & Volk has it all in a broker-friendly banking platform that can do the impossible when it comes to home financing.

THIS WEEK: The stock market’s direction after the healthcare policy vote will hold the key to mortgage rates. What is the outcome?

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Mortgage Report Bob Mortgage New

Just as expected, the Fed increased interest rates by 25 basis points, says BobMortgage in this week’s Mortgage Report from Wallick & Volk. Will that upset the mortgage market?

You may know him as Bob Johnson, the senior mortgage advisor at Wallick & Volk, the nation’s oldest privately-held mortgage company. Bob Johnson has helped more than 25,000 families get into the homes of their dreams, in 20 plus years of lending service.

Now with five offices across the DFW Metroplex, the nation’s oldest mortgage firm is helping thousands of consumers get into homes with the most up-to-date financial information possible. Wallick & Volk brings experience and integrity into every single loan, but they also deliver a highly personalized touch that conforms to each client’s need. Is it speed of delivery, unique products, total transaction transparency, or great pricing you need? Wallick & Volk has it all in a broker-friendly banking platform that can do the impossible when it comes to home financing.

THIS WEEK: With higher Fed interest rates on the horizon, what will the mortgage market do? Should you buy now or rent?

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