populationTwo out of three of the metropolitan areas that had the largest population growth were in Texas, and three Texas metropolitan areas were in the top 10 nationally, new census figures revealed.

The Dallas-Fort Worth-Arlington MSA topped the nation when it came to numeric population growth, the most recent Census Bureau data revealed Thursday, with a gain of 131,767 in 2018, or 1.8 percent.

Census officials attribute the growth to migration — both domestic and international migration — as well as natural increase (having more births than deaths). In fact, natural increase impacted DFW growth the most, while domestic migration was the largest source in Phoenix.

“One interesting trend we are seeing this year is that metro areas not among the most populous are ranked in the top 10 for population growth,” Sandra Johnson, a demographer in the Census Bureau’s Population Division, said in a statement. “Though no new metro areas moved into the top 10 largest areas, Phoenix, Seattle, Austin, and Orlando all experienced numeric increases in population since 2010, rivaling growth in areas with much larger populations. This trend is consistent with the overall growth we are seeing in the south and the west.” (more…)

affordable home

Photo courtesy Flickr/Woodleywonderworks

It’s official — the likelihood of finding an affordable home for less than $200,000 in Dallas-Fort Worth is slim to none, economists with Metrostudy said last week.

“While DFW’s strongest price point during the last cycle, below $200,000, is no longer viable, the “new affordable” price bracket, $200,000 to $300,000 grows,” Paige Shipp, regional director of Metrostudy’s Dallas-Fort Worth market said. (more…)

If a prospective buyer visiting your listing is the first date, your listing photos could be considered Tinder — and the Picture The Sell team says they’re ready to make sure people swipe right on your listing.

And this team prides themselves on being young, tech savvy and — by their own admission — real estate nerds. But they also point out that they’re no one-trick pony, either — the team has experience in almost every phase of the home-selling business, including photography, lending, legal, and real estate.

And that translates to an attention to detail so precise that Picture The Sell has morphed from referral only to a highly competitive real estate photography company. (more…)

dallas-fortworth-cities-map

We talk about the impact of rising home prices all the time, but that’s only half the affordable housing story. Across the country, rents in suburban areas also show dramatic increases over the last year, with no signs of stopping.

A recent study from RentCafe shows that while urban Dallas continued to post fairly consistent rent increases in 2016 (5.9 percent), the farther you travel away from the city, the greater the hikes renters experienced. In Dallas proper, rental housing remains relatively affordable when compared to the rest of the Metroplex (and the country, as a whole). We have all that apartment construction to thank for that. More than 6,000 new apartment units became available in 2016, alone.

But in Fort Worth, where apartment inventory has stagnated, rents grew 6.3 percent over 12 months. And that’s nothing compared to areas like Weatherford and Midlothian where rent skyrocketed over 10 percent in 2016.

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Klyde Warren Park during the Arts District Block Party June 20.

Hundreds of people flock to Klyde Warren Park during the Dallas Arts District Block Party June 20.

We know that North Texas’ strong and growing job market keeps people flocking to our metro area, and that population increase, along with corporate relocations and an attractive business environment, is driving our local economy. It’s driving up housing demand and home prices, too.

So we’re not surprised to hear that the U.S. Metro Economies report ranks the Dallas-Fort Worth-Arlington metro area as one of the fastest-growing economies in the nation. “Booming,” by their estimates. The North Texas area ranks No. 6 in the nation with a Gross Metropolitan Product of $440.1 billion in 2013. The news, which was announced at the U.S. Conference of Mayors by analysts IHS Global Insight, has everyone buzzing about our fair burg. And for good reason.

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Corelogic Housing-market-map May 2013We have been telling you this for months now: home prices around North Texas have never been higher. Sales of pre-owned home in the first half of 2013 are running more than 20 percent higher than in the same period of 2012. In fact, that is a new North Texas sales record for a single six-month period.

Deja vue 2006!

Steve Brown says, and I agree, that some Dallas neighborhoods are experiencing the largest home price gains this area has seen since the early 1980s. Park Cities would be one, Lakewood two, Bluffview three, Preston Hollow four, and Frisco, yes Frisco, five.

And it looks like prices will continue to rise, at least until next year, even with creeping mortgage rates that mostly affect home sales below a million. Why is our market doing so well while others are not?

Jobs and our strong Texas economy.

“The increase of sales we are seeing is a pure function of economics,” said Ted Jones, chief economist for Stewart Title Co. “This is not false hopes.”

When people move into an area, they need a place to live. D/FW created 104,600 new jobs in the last 12 months, said Jones, which led to 34,720 residential building permits being issued. Jones also says we could have built twice as many home and apartments and still not overbuilt this market.

That’s because we have a shortage of homes for sale. Builders froze during the deep recession, and financing was scarce. Which has led to our dwindling home inventory: 1.5 to 3 month supplies of homes for sale. Normal is considered 6 months.

And according to Core-Logic, WE are back to our pre-2006 price value levels. That means that if you purchased your home at the tip top of the market in 2006, your values have more or less inched back up there, depending, of course, on the condition of your home. Interesting to see that even the pricey highly sought markets like San Francisco and Boston, have still not reached 2006 levels. But Dallas Texas, Oklahoma, Nebraska and South Dakota are back to 2006 levels while every other state is in the negative, still!

All this makes people here feel more secure. Rich, even. And it spurs some people to sell.

If folks are selling in higher priced states and moving here, they almost have an “O” when they see what all their money can buy. James Gaines over at Texas A&M says our advantage is and always has been our reasonably priced homes:

“Texas enjoys a comparative housing advantage to other high-growth states,” said James Gaines, an economist with the Real Estate Center at Texas A&M University. “Prices here are significantly below those in other states that people are now leaving.”

The median Dallas pre-owned sales price is now close to $186,000. The median cost of a home in Frisco is a sweet spot of about $280,000 to $300,000, a community where most transplants settle. A whole world of outsiders is moving there, says Redfin agent Connie Durnal, who specializes in Frisco sales. They do their research on the web and they land on Frisco.

“It has proximity to downtown Dallas and D/FW, the infrastructure, the schools, ” says Durnal. “You can buy a home in Frisco for $125,000 or pay over a million dollars.”

Transplants from other more congested parts of the U.S. don’t fret over the commute to downtown Dallas, says Connie. Some may be more interested in D/FW than downtown, like the pilot she just helped snag a home in Little Elm.

Yes, even Little Elm is hot again.

4815 Royal lane ext frontAs for the luxury market, it’s cooking, too, if homes are well-priced and attractive. Let’s look at 4815 Royal Lane as a great example. I loved this house so much when I wrote about it, it truly reminds me of the “Home Alone” house. It is on Royal Lane, true, but the setback and generous lot more than make up for any busy street negativity. The 6871 square foot home was built in 1985 but, like Demi Moore, was kept up beautifully and very open to younger lovers owners. The walk-in master closet rivals those I’ve seen in $10 million dollar homes. Originally listed at $1,695,000, Doris Jacobs just sold it for $1.460,000. Perfect example, this home.

That, my dear readers, is the story of Dallas luxury real estate, at least this week!4815 Royal Lane kitchen 4815 Royal lane study 4815 Royal LR 4815 Royal pool

 

 

Rangers Fans After World Series

 

 

(Photo: The Dallas Morning News)

Today’s the home opener for your Texas Rangers. We go as a family every year, but I have to tell you — I hate the drive. I hate driving to Arlington. Interstate 30 is always a parking lot from Arlington to Grand Prairie, sometimes even to Hampton Road. Driving to and from sporting events is a huge nightmare.

Until mass transit to Arlington makes the trip to see our favorite baseball franchise less headache-inducing, perhaps the hubby and I should consider buying a townhome within walking distance to Rangers Ballpark?

Check out a few great options for second homes that are close to clutch in Arlington, Texas, at Second Shelters!

Rangers Fans After World Series

 

 

(Photo: The Dallas Morning News)

Today’s the home opener for your Texas Rangers. We go as a family every year, but I have to tell you — I hate the drive. I hate driving to Arlington. Interstate 30 is always a parking lot from Arlington to Grand Prairie, sometimes even to Hampton Road. Driving to and from sporting events is a huge nightmare.

Until mass transit to Arlington makes the trip to see our favorite baseball franchise less headache-inducing, perhaps the hubby and I should consider buying a townhome within walking distance to Rangers Ballpark?

Check out a few great options for second homes that are close to clutch in Arlington, Texas, at Second Shelters!