mansion

From staff reports

If your Pinterest board is mansion after mansion, but your bank account is slightly less accommodating to your champagne wishes and caviar dreams, the idea of buying a more luxurious property in DFW might make you a touch incredulous.

But, according to a recent GoBankingRates survey of 48 U.S. cities, if you don’t mind the ‘burbs, you can totally find the Lone Star largesse you’re looking for when it comes to square footage.

No, seriously.

A July study by the company looked at the 200 largest U.S. cities and then, using a definition of homes between 5,000 and 8,000 square feet to determine what a mansion is, researchers multiplied median list price per square foot, and estimated about how much a 5,000, 6,000, 7,000, and 8,000 square foot abode would set you back in the pocketbook.

So where can you live in North Texas and score a big ol’ house for less than $1 million? GoBankingRate found three cities. We’ve linked to a representative listing for each price point (when we could find one), just to further illustrate. (more…)

TREC

The Texas Real Estate Commission is on the hunt for someone to fill the simultaneous roles of TREC executive director and Texas Appraiser Licensing and Certification Board commissioner, state home sales are trending upward again (but it’s more of a mixed bag in North Texas), and we find out what demographic is more likely to tap into retirement to fund their downpayment on a home, all in this week’s roundup of real estate news.

TREC on the Hunt For New Executive Director

TREC

Douglas Oldmixon

Longtime Texas Real Estate Commission executive director Douglas Oldmixon is retiring in March 2020, and now the agency is on the hunt for his replacement.

The TREC executive director also serves as the commissioner for the Texas Appraiser Licensing and Certification Board and, according to the agency, “is responsible for organizational culture and day-to-day operations of the agency.”

“This includes managing staff and agency resources, overseeing the annual budget, and developing and implementing a strategic plan in collaboration with TREC and TALCB policymakers appointed by the Governor,” the agency continued.

TREC and TALCB provide oversight of real estate brokers, appraisals, property inspections, home warranties, and more. It also provides licensing, education, and complaint investigation services. (more…)

PlanoPlano and Arlington are at the top of a list of best places to drive, pending home sales fell in July, and Realogy announced that its agents lead a top LGBT+ agent list. We have all this in this week’s roundup of real estate news.

Plano, Arlington Rank in the Top 25 for Best Places to Drive

You have to wait until No. 13 to find a North Texas city on WalletHub’s Best and Worst Places to Drive, but once you get there, it’s Plano that leads the DFW pack. Arlington comes in at 25th, according to the study, which looked at the 100 most populated U.S. cities. (more…)

rentsRents in Dallas were flat last month, five North Texas cities made it to the top of a list of best real estate markets, and the National Association of Realtors provides a summary of the July housing market conditions, all in this week’s roundup of real estate news.

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opendoor

From staff reports

A few months after Zillow announced it would enter the lending business, iBuyer Opendoor announced Thursday that it would as well, launching Opendoor Home Loans.

In a statement released Thursday, the company said it was aiming to make the home lending process less complicated. It can take around 45 days to finance and close on a new home purchase, and the company saw an opening to streamline the process by encapsulating the buying experience from beginning to end.

“Having helped over 50,000 customers buy or sell with Opendoor and hosted over 1 million on demand self-tours of Opendoor homes, we know our customers value flexibility, simplicity and speed,” the company’s press release said. “We’ve taken those same principles and applied it to the home loan process.” (more…)

Fort WorthFort Worth is the country’s third-fastest growing city, North Texas cities are in the middle of the pack when it comes to being flip-friendly, and DFW rents rose — but not by as much as the national rate. We have all this in this week’s roundup of real estate news.

Fort Worth Country’s Third-Fastest Growing City

Fort Worth is the country’s third-fastest growing city, an analysis of U.S. Census data conducted by CityLab revealed.

Richard Florida,  co-founder and editor at large of CityLab, assembled a team of researchers to examine what cities have bounced back and are experiencing growth in population and jobs, and which ones are still struggling post-recession. The team looked at Census data between the years 2012 and 2017. (more…)

Ebby Halliday Companies President and CEO Chris Kelly and Mayfair International Realty’s International Director Annette Reeve and Managing Director Nick Churton.

Why is this partnership so important for Dallas?

It’s no secret Dallas is becoming one of the most competitive markets for real estate agents and brokers, what with Compass taking the town by storm and Douglas Elliman headed our way. Redfin is gaining ground, and I have seen quite a few Door signs of late.

Then there are the iBuyers, focusing more on the moderately-priced suburbs, and the growing gangbusters 100 percent commission brokerages like JP and Associates and eXp. Keller Williams was born just south of us in Austin, but the company, now branded as a tech firm, has a very strong presence in Big D.

Our Agent Migration columnist, Josh Baethage, treads hard to keep up with all the changes.

Like so many television channels, there are so many choices for consumers who want to buy and sell a home. Thus brokers are pedaling on ludicrous speed to keep agents engaged, armed and competitive to market properties everywhere.

And it’s led to a really important move for Ebby Halliday Realtors. (more…)

Photo courtesy Flickr/Woodleywonderworks

From staff reports

How much do you need to make per year to afford a home in Dallas? According to one report, less than $60,000.

But is that true? According to CNBC Make It, they’ve identified 15 cities where the qualifying income to purchase a home with 10 percent or 20 percent down is an annual salary of $60,000 or less. 

They’ve based this determination on data from the National Association of Realtors’ Metropolitan Median Area Prices and Affordability index. It also assumes a 4.1 percent interest rate, and a monthly principal and interest payment that is 25 percent of a homebuyer’s income, or less.

According to CNBC’s number crunchers, Dallas made the list. And it’s not too surprising, after all, another study from Zillow found that someone with a high school diploma and no college hours at all could afford (in theory) to buy a home in Dallas.  (more…)