Real EstateDallas ISD is holding public information meetings for a proposed Tax Ratification Election to be held in November, a Desoto man has been tapped by Governor Abbott for a spot on a real estate advisory committee, and we take a look at how the market did in the area in July in this week’s real estate news roundup. (more…)

recessionDallas was among nine metros where the bulk of home values have hit pre-recession levels, affordability is hampering one age group in particular from purchasing homes, Zillow is making yet another bid toward world domination, and mortgage rates are ticking up — all this and more in this week’s real estate news roundup. (more…)

DallasHow much does it cost to buy a home in a good school district in the Dallas area? What do single-family rents look like in Dallas? And are people remodeling? We find out in a roundup of real estate news. (more…)

home sales

(Graph courtesy Zillow)

Foreclosure starts are up locally, Dallas-Ft. Worth market continues to significantly outperform all other cities in the state when it comes to home sales, and several local cities and towns are among the top places in Texas to live.

We take a look at all of that and more in this week’s roundup of real estate news. (more…)

Pam and Norm Robbins with daughter Ashley Robbins Gonzales

Pam and Norm Robbins, with daughter Ashley Robbins Gonzales

Pam Robbins was the first Realtor in the family, beginning her career 32 years ago. Ashley Robbins Gonzales, her daughter, was 10 at the time. After Ashley married in 2000, she decided to give real estate a try, too. As luck would have it, their talents made them a formidable team. With Pam as the people person and Ashley as the tech whiz, they discovered soon how much of a good match they are.

But there was a piece of the puzzle missing. After a long career at the Fort Worth Chamber of Commerce and later in community relations at Lockheed Martin, Norm Robbins, Pam’s husband and Ashley’s dad, had the vast network that would make this family affair take off.

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casechart5.31
We are still cooking when it comes to rising property values, though the heat is no longer set to boil: Dallas’ March home price increase was only 1.4%, the lowest annual increase in nine months, and below February’s. But Dow Jones’ Case-Shiller March report says oil pries be damned, Texas is still killing it as real estate becomes a more scarce commodity:

“The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates,” S&P’s David Blitzer said in the report. “Another factor behind rising home prices is the limited supply of homes on the market.

“The number of homes currently on the market is less than 2 percent of the number of households in the U.S., the lowest percentage seen since the mid-1980s.”

Here is what I am loving: while nationwide home prices are still 10% below what they were in 2006, when the market was just nuts, Dallas-area home prices are now more than 25 percent higher than they were before the recession.

We can thank the more than 80,000 people a year moving here for making our homes short in supply, our days on market about 3 months or less (less in Plano-Frisco) except, of course, when you are talking the eight digit properties.

Price movements, said the report, vary across the country. “The Pacific Northwest and the west continue to be the strongest regions. Seattle, Portland, Oregon and Denver had the largest year-over-year price increases. These cities also saw some of the largest declines in unemployment rates among the 20 cities included in the S&P/Case-Shiller Indices. The northeast and upper mid-west regions were at the other end of the ranking. The four cities with the smallest year-over-year prices gains were Washington DC, Chicago, New York, and Cleveland. The unemployment rates in Chicago and Cleveland rose from March 2015 to March 2016.” (more…)

Where home prices are surging the most, and see how dwindling inventory affects that:

Metropolitan Area
Zillow Home Value Index (ZHVI)
YoY Home Value Change
Percent Inventory Change for All Homes
Bottom-Tier Percent Inventory Change
Middle-Tier Percent Inventory Change
Top-Tier Percent Inventory Change
Condo Percent Inventory Change
Denver, CO $336,600 15.2% 0.1% -2.3% 15.3% -4.8% 6.8%
Portland, OR $325,400 15.1% -31.6% -39.8% -39.0% -21.6% -43.5%
Dallas-Fort Worth, TX $183,700 12.6% -21.0% -32.1% -35.1% -11.9% -33.6%
San Jose, CA $962,400 12.3% 1.3% -3.8% 3.2% 5.8% 7.1%
Seattle, WA $386,300 11.6% -21.1% -28.5% -20.9% -15.6% -23.9%
Miami-Fort Lauderdale, FL $232,800 10.5% 18.0% 10.3% 16.6% 21.9% 28.7%
San Francisco, CA $806,800 10.0% -2.1% -14.9% 0.1% 6.1% 11.9%
Tampa, FL $165,600 9.7% -16.2% -27.9% -19.3% -8.1% -12.8%
Austin, TX $250,400 8.9% 2.6% n/a n/a n/a 20.6%
Phoenix, AZ $220,600 8.8% -8.0% -20.2% -6.6% -4.1% -15.6%
Source: Zillow

23 Ash Bluff Front

Show of hands: How many of our CandysDirt.com readers enjoyed the beautiful weather at the annual Polo on the Lawn match this past Saturday? It was a wonderful event held at Prestonwood Polo Club in Oak Point, benefiting Children’s Miracle Network. But did you know that 23 Ash Bluff Lane was once the site of the Dallas Polo Club in the 1920s?

Yes, it’s true! This gorgeous Anton Korn-designed estate built in 1935 is the very same place where polo ponies and riders raced while the elegant ladies and gentleman of Dallas society looked on.

It was originally built for oilman Clint Murchison, but was later renovated in a way that holds on to the home’s history while allowing it to easily accommodate today’s buyer. Jump to see the rest of this gorgeous home located inside the exclusive Glen Abbey neighborhood.

23 Ash Bluff Side Front

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