Fort Worth

(Photo courtesy Flickr)

Rents are on the rise in Fort Worth, making it one of the top 25 cities out of the 100 largest in the U.S. where one-bedroom rents are rapidly increasing. We look at that, as well as who made the cut as the richest person in Texas, and what company is making a foray into Texas real estate now, in this week’s roundup of real estate news. (more…)

baby chasers

Photo courtesy Pixabay

It may not be a new phenomenon exactly, but grandparents making big moves to be closer to grandchildren have a relatively new term — “baby chasers.”

In fact, real estate research firm Meyers Research recently released its Meyers Baby Chaser Index, which indicates that 25 percent of Baby Boomers will likely retire to be near their grandchildren, even if it requires a state switch.

Dallas, the firm said, was at the top of the list, along with Charlotte, North Carolina; Austin; and Nashville, Tennessee. “Dallas’ growth decelerated in the latest data for both age groups but remains among the highest in the country,” Meyers said. (more…)

mckinney

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From staff reports

Nearly 40 percent of 2018’s single-family home purchases were made by first-time buyers — with some places being more friendly to those new to the market than others. McKinney ranked 10th among 300 cities WalletHub looked at in regards to how amenable they were for first-time buyers.

The Collin County town ranked 160th when it came to affordability, but scored top marks for its market and 45th for quality of life.  (more…)

metrotex

From left: Terry Tremaine, Bill Jordan, Taylor Walcik

MetroTex announced its proposed slate of 2020 officers and 2020-2021 directors after receiving applications from general membership, which were then reviewed by a nominating committee.

Nominated were: President: Terry Tremaine, Century 21 Mike Bowman; President-Elect: Bill Jordan, Longhorn Real Estate; Secretary/Treasurer: Taylor Walcik, Blair Group Real Estate; Past President: Cathy Williams, Keller Williams. (more…)

Millennial

Photo courtesy Wikimedia Commons

It started as a drumbeat last March, as Candace Taylor of the Wall Street Journal wrote that Baby Boomers who built million-dollar, large homes, suddenly were finding it difficult to unload them because Millennial buyers (the next market of age to buy a home after Gen Xers) were disinterested in (or couldn’t afford) the homes.

Seems Boomers, who are looking to retire and downsize, and Millennials have something in common — a slim-to-nil desire to live in too much house.

“Large, high-end homes across the Sunbelt are sitting on the market, enduring deep price cuts to sell,” Taylor wrote. “That is a far different picture than 15 years ago, when retirees were rushing to build elaborate, five or six-bedroom houses in warm climates, fueled in part by the easy credit of the real estate boom. Many baby boomers poured millions into these spacious homes, planning to live out their golden years in houses with all the bells and whistles.”

The Boomer generation owns about 32 million homes and account for two out of five homeowners in the country.

Tastes Change

What nobody accounted for, really, was that tastes would change, and the buyers entering the market in the mid to late 2000s would be looking for walkable neighborhoods, energy-efficient homes, and clean floor plans, for the most part.

“Design trends have shifted radically in the past decade,” Taylor wrote. “That means a home with crown moldings, ornate details and Mediterranean or Tuscan-style architecture can be a hard sell, while properties with clean lines and open floor plans get snapped up.”

A survey by Nationwide Insurance revealed that 48 percent of Millennials wanted new construction, to avoid renovations and plumbing and electricity problems.  (more…)

purplebricksFlat-fee brokerage Purplebricks pulls out of the U.S. market, we have May housing numbers for Texas, and we find out what Dallas-Fort Worth town was named to a list of the 34 richest towns in the U.S. – all in this week’s roundup of real estate news.

Purplebricks Hits the Bricks, Leaves U.S. Market

Less than two years after entering the U.S. market via Los Angeles, U.K.-based Purplebricks announced it would leave the market.

The flat-fee brokerage struggled as of late in its expansion, reporting a full-year operating loss of 34.1 million pounds (or roughly $43 million), Inman reported. It had previously announced this Spring that it was shutting down in Australia as well. (more…)

Five of the top 25 cities for home value appreciation are in Texas, but where does Dallas fall? Where does the state fall when it comes to affordability? And how many Texans (and Dallasites) can afford the median home price?
We have all this in this week’s roundup of real estate news.

Texas Leads Pack in Home Value Appreciation — Where Is Dallas?

An analysis by Forbes revealed that of the top 25 cities in the country where home values are still rising, five are in Texas. (more…)

sec

David Peavler (Photo courtesy HD Vest)

The new director of the Security and Exchange Commission’s Fort Worth office is a familiar face, having served at the regional office previously as an associate director.

The agency named David Peavler the new director earlier this month. Peavler served for 15 years in various roles at the regional office’s Division of Enforcement before leaving in 2017 to serve as general counsel to HD Vest Inc.

During his prior stint at the SEC, Peavler led the agency’s efforts in Texas, Oklahoma, Arkansas, and Kansas. His investigations included cases against Royal Dutch Petroleum and The “Shell” Transport and Trading Company, a Ponzi scheme lead by a Houston-area businessman, and a fraud case involving Life Partners Holdings and three of its senior staff.  

“Mr. Peavler was integral to the issuance of the SEC’s Seaboard Report regarding cooperation, wherein the Commission declined to take action against a company in recognition of the company’s response to the conduct at issue,” the SEC’s announcement said.  (more…)