Dallas City Center Realtors changes its name and brand, housing affordability is at a three-year high, W Dallas Hotel draws a buyer, and Coldwell Banker introduces RealSure programs in Dallas, all in this week’s roundup of real estate news.

Dallas City Center Changes Brand To Paragon Realtors

Dallas City Center Realtors announced last week a name change to Paragon Realtors and new branding campaign slated to roll out in 2020.

Dallas City Center Realtors changes its name and brand, housing affordability is at a three-year high, W Dallas Hotel draws a buyer, and Coldwell Banker introduces RealSure programs in Dallas, all in this week’s roundup of real estate news.

“The word ‘Paragon’ means ‘a model or pattern of excellence’ and reflects the hallmark reputation of Dallas City Center agents for nearly 20 years,” marketing coordinator Ashton Graves said in a press release.

Broker Mike Miller said the team is excited to have a brand that works for agents in the diverse marketplace they serve.

“Our agents work in a dozen counties from the Red River to Cedar Creek Lake, so it’s important that the name on the sign supports them and their reach,” he said.

After acquiring the Sherman office of Virginia Cook Realtors in the spring, Dallas City Center officials began thinking about a new name to highlight a high standard of excellence.

“The attention and reaction to the brand when we acquired the Sherman office got us thinking,” said Yvette Grove, director of coaching and training for the firm. “Many of our agents wanted a stronger brand presence and we felt this was a great way to do that; the name truly reflects the commitment our agents have to their craft.”

The firm was founded in 2001 and has four offices across North Texas.

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Brian Miller of Northern Kentucky, who was named Executive Officer of the Year for 2017, congratulates Dallas Builders Association Executive Officer Phil Crone. (Courtesy Photo)

From Staff Reports

It’s been a pretty big year for Phil Crone, the executive officer of the Dallas Builders Association, and getting recognized by your industry has to be the icing on the cake for him. The Dallas Builders Association relaunched their Parade of Homes, hosted a City Council debate, and worked to get more trade education in public schools — all initiatives that deserve recognition. 

And that’s exactly what Crone received on July 24 with the National Association of Home Builders named him Executive Officer of the Year. The award was presented at the annual Association Management Conference in Baltimore and honors a dedicated executive officer whose actions, commitments, and accomplishments in a single year has been truly exceptional. In addition, Crone was recognized for promotion of the national Executive Officer’s Council and for assisting in the advancement of his peers. The award is in memory of Gary Komarow, former chief legal counsel of NAHB.

In 2014, Crone received the New Executive Officer Award, which is presented to an EO who has served no more than three years in an association management position, but who is judged to have made major contributions to the profession during that time. Crone has served as the Association’s executive officer since January 2013.

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By Phil Crone
Executive Officer
Dallas Builders Association

In the midst of a nationwide, 10-year low in affordability, the housing industry is bracing for additional tariffs. From tile to countertops, laminates, lighting, and furnishing, about 450 products commonly found in new homes and remodeling projects are seeing tariffs rise from 10 percent to 25 percent due to the escalating trade war between the United States and China.

According to the National Association of Home Builders (NAHB), homeowners and homebuilders nationwide will be paying an additional $2.5 billion. Existing tariffs on Chinese imports and Chinese retaliatory tariffs already reduce U.S. Gross Domestic Product by 0.15 of a point. These additional tariffs will lower GDP by another half a point. While painful, they should not, in and of themselves, induce a recession.

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I’m a wee skeptical of The National Association of Home Builders 2018 survey of “thousands of U.S. homebuyers” for must-haves.

I have no doubt these things were tops on consumer’s wish list, and were accurately reported. I just think housing preferences are more regional. And this list is too national. 

These are features buyers ranked as most likely to be required in a house:  (more…)

From Staff Reports

With lumber tariffs already adding more than $6,000 to the price of every new home in Dallas, President Trump’s decision this month to escalate the trade conflict with China has builders bracing for more challenges to housing affordability. This decision could wind up imposing a $2.5 billion tax increase on residential construction, according to the National Association of Home Builders.

Trump announced he is moving immediately to impose 10 percent tariffs on an additional $200 billion worth of Chinese imports, including $10 billion of goods used by the home building industry. This 10 percent levy represents a $1 billion tax increase on residential construction. Making matters even worse, the tax hike will rise to $2.5 billion on Jan. 1 when the president said the tariff rate will jump to 25 percent if the two nations have not resolved their differences by year end. If China retaliates, Trump has vowed to place tariffs on an additional $267 billion worth of imports. The NAHB has strongly opposed this move.

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affordable housing

Wages have not kept apace with housing costs in Texas, resulting in a shortage of affordable housing.

After the housing market bubble burst, what markets recovered the fastest? What does that mean for affordable housing? What policy changes would best impact the need for affordable housing?

Experts weighed in at a recent conference on affordable housing in Texas, held at the Federal Reserve Bank of Dallas. (more…)

 

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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windsong-ranch-common-area

We knew it the first time we saw it: there was just something very special, warm and inviting about the Welcome Center at Windsong Ranch. We didn’t feel as if we were looking at a sales office, or event a home development marketing center.

We felt like we were arriving at a Kimpton Hotel and the refreshments were just around the corner! Come on in, put your feet up.

So it comes as no surprise that the National Association of Home Builders (NAHB) National Sales and Marketing Council (NSMC) recently named Windsong Ranch’s Welcome Center the best in the country. That’s right, BEST IN THE COUNTRY! The National Sales and Marketing Council’s new home sales and marketing awards salute and honor the best in the building industry for their determination, integrity, creativity and endurance.

More than 1,300 entries were received for this year’s awards.

windsong-ranch-back-of-commons

“We knew our Welcome Center had to stand out,” said Craig Martin, Founding Partner of Terra Verde Group, the developer of Windsong Ranch.  “Along with all of the great amenities, what really gives us an edge is the Windsong Café where residents can get a cup of coffee or fresh food cooked with locally sourced ingredients.”

Like we said, refreshments just around the corner, locally sourced be they vegetables from a Windsong Ranch garden, or fresh honey from a ranch hive.

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