cool downEver since reports that home sales in the Dallas-Fort Worth market (and nationally, too) slowed in June, there has been a steady flow of stories proclaiming doom for the market. But is it really a cool down?

For our July 27 Friday Question, we took to Facebook and asked our readers what they thought about the reports.

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Even though housing sales in Texas fell 3.2 percent, demand is still strong, the Texas A&M Real Estate Center’s June Housing Insight revealed. The same report revealed that Dallas’ affordable housing problems aren’t anywhere close to abating.

The report said that the Texas Residential Construction Cycle (Coincident) Index reached its highest level since 2008 last month, largely thanks to construction employment and wages. The index measures current construction activity in the state.

Housing shortages seem to have spurred an increase in supply activity, as the inventory of vacant developed lots rose 3.3 percent in Dallas-Fort Worth. However, single-family housing construction fell 1.8 percent in the second quarter. Texas is still at the top of the market with 16 percent of the national total for permits, though, and Dallas-Fort worth comes in at a strong second to Houston’s permit activity with 3,295. (more…)

A slowdown isn't a bad thing is it? Let's find out

Some will agree, and some won’t,  but data doesn’t lie — we are heading into a real estate slowdown.

First of all…R-E-L-A-X.  No, we are not heading toward a recession.  No, the housing market isn’t crumbling.  No, it’s not time to sell your home, stock up on canned beans, ammo, and get off the grid.  But the real estate market is changing … dare we call it a slowdown?

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amazing revival house

Before-and-after photos don’t do it justice at 3771 W. 4th Street in Monticello.  (photos: Trey Freeze Media)

I have a great idea! HGTV should make a TV show where they take a total clunker of a home and turn it back to its original greatness … they could call it “Revival House” or something like that.  (Of course I would star in the show, too!)

The first episode would feature the home located at 3771 West 4th Street in the beautiful neighborhood of Monticello in Fort Worth.

When the Seller of this charming 1,520-square-foot, two-bedroom, one-bathroom home first bought it, it was … well … shall we say politely … it was in need of a drastic revival!

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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…)

Kevin Tally, a Dallas-based agent with more than a decade of North Texas real estate experience, recently joined Allie Beth Allman and Associates after spending the past three years at Rogers Healy and Associates.

Tally is one of the youngest “veterans” in the Dallas market. He earned his real estate license 10 years ago while still a high schooler in Fort Worth. Despite being accepted into both the University of Texas and TCU, he chose to forgo college and go to work in his hometown.

“I started thinking about it and said, ‘you know what? If I go to college, I’m going to get back into this field anyway because I really love real estate, construction, architecture and all of that,’” he said. “I took the summer off and then I started hustling.”

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This press release just hit my inbox, and how cool is it that the Fort Worth City Council meets at night? —

FORT WORTH CITY COUNCIL UNANIMOUSLY APPROVES ZONING FOR THE WORTH, a 30-FLOOR LUXURY CONDOMINIUM HIGH-RISE 

Downtown Design Review Board, DFW Inc and Trinity River Vision Authority Continue Enthusiastic Support for Residential Condo Project 

FORT WORTH, TX (April 3, 2018) The Fort Worth City Council today unanimously approved the zoning for The Worth, the downtown 30-story luxury residential condominium tower. 

The Worth, which faces W. Bluff and is bounded by N. Henderson Street, Mills Street, and W. Peach Street, will provide an iconic entrance to downtown via the new bridge to be built on Henderson. The Worth will offer unparalleled, high-rise living with sweeping generous balconies affording commanding, panoramic views of downtown Fort Worth, the Museum District, Trinity River and Panther Island, bringing new residential owner-stakeholders and a much-anticipated luxury tower to downtown Fort Worth. 

Civic supporters have emphasized that The Worth will be a welcome addition to the area, built on the edge of the Panther Island development and downtown Fort Worth adding vitality to the area.

The City Council vote follows the conceptual support by the Fort Worth Downtown Design Review Board (DDRB) on March 1 of a request by the developer, Zamco Properties LLC, for an increase in massing and form for The Worth.   (more…)

rents

(Photo courtesy Wikimedia Commons)

There may be a lot of apartments being built in Texas, but that’s not necessarily translating to more affordable rents, one economist said at a recent conference on affordable housing held at the Federal Reserve Bank of Dallas.

Greg Willett, chief economist at RealPage, told the group assembled that the same affordable housing issues that have begun to block families from purchasing homes have begun to crop up in the rental sector as well.

“We are starting to see the same affordability challenges in rental housing,” he said, adding that this issue is occurring despite a boom in apartment completions across the country. (more…)