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…)

dream neighborhood

From staff reports

Suburb or city, a prevailing number of participants in a recent survey said their dream neighborhood is somewhere quiet. 

The survey, which was conducted by Improvenet, asked more than 2,000 Americans about their ideal neighborhood, and what their dream neighborhood looks like. 

The top five things respondents required in an ideal neighborhood? Grocery stores, parking, good public schools, dining options, and a farmers’ market. (more…)

Plenty of data has shown that Millennials have been eschewing homeownership more than previous generations. That trend may now be reversing according to data from HomeLight, a company that utilizes complex data analysis to better understand real estate markets across the country.

“Millennial is a broad term, but when we look at our data, we are seeing more homebuyers in their thirties,” HomeLight spokesperson Matthew Proctor said. “That’s a lag compared with Baby Boomers and other generations who were buying closer to age 26 or 27.”

(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.

(more…)

Real Estate Story

As the Dallas-Fort Worth area grows and suburbs develop, many people wonder about the advantages of buying a new versus preowned house. We’ve put together a handy infographic for you, outlining the advantages of each. What’s your opinion?

New versus preowned home

 

 

Photo courtesy Bright Realty

Artist rendering of Discovery at The Realm in Castle Hills in Lewisville. Photo courtesy Bright Realty.

Since the first homeowners moved into Lewisville’s Castle Hills community in 1998, more than 12,000 people have decided to call the master planned community home, and it is about 60 percent built-out today.

Located off State Highway 121 and Farm-to-Market Road 544, Castle Hills is 60 percent residential and has single-family houses ranging from about $300,000 to $1.5 million and more.

Developer Bright Realty is enticing a different demographic with their next stage of work at Castle Hills with a $75-million project called Discovery at The Realm. These 4,000 luxury rental apartments are being built with young professionals in mind.

Tim McNutt, Executive VP of Multifamily Development at Bright Realty and a Castle Hills resident himself, said these apartments are part of the strategy to develop Castle Hills in stages.

“The long-term plan was to establish the single-family housing, then to develop the remaining commercial properties,” McNutt said. “Along with the commercial [real estate], we wanted to expand the demographic and this will broaden our appeal to a whole new market.”

Photo courtesy Google Maps

Photo courtesy Google Maps

Bright Realty broke ground in December on Discovery at The Realm, which will include high-end, three podium-style buildings (underground parking with four stories of apartments above) on over 20 acres of land located south of Windhaven Parkway at Castle Hills Drive. The first units will be available in April 2016, with all phase one units completed by October 2016. Jump to read more!

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102 Skyline A

Gone with the Wind was a childhood favorite of mine, with its winding storyline, genteel fashion, and dramatic romances. In one memorable scene, Scarlett’s father, Gerald O’Hara, an Irish peasant immigrant, proclaims in his rough brogue, “The land is the only thing in the world worth working for, worth fighting for, worth dying for, because it’s the only thing that lasts.”

That sort of mentality about the importance of land to heritage, identity, and wealth still exists, and there’s something visceral and deeply gratifying about owning actual land, as opposed to, say, stocks, which seem to exist in the ether.

If you’re an urban homeowner, the amount of land you’re likely to own is quite small, as plantations like Tara don’t exist within city limits. But there are properties in DFW with actual land, and for today’s Tuesday Two Hundred, I found one sitting on almost an acre in Collin County.

The house at 102 Skyline Dr. in Murphy is listed by William Duke of Carrington Real Estate Service for $259,000 and sits on 0.98 acres. It is located near the intersection of Farm-to-Market Road 544 and S. Murphy Road.

Murphy is a fast-growing bedroom community of about 18,000 residents, bordered by Plano, Richardson, Wylie, Sachse, and Parker. It’s about 20 miles from Downtown Dallas, 35 miles from DFW Airport, and 25 miles from Love Field Airport.

This house is a 2,496 square foot fixer-upper with three bedrooms, three full bathrooms, and a pool. At $104 per square foot with all that land, I think it’s got huge potential. Jump to read all about it!

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old town 2

Old Town Lewisville. Photo courtesy of the city of Lewisville

When you think of hip, fun destinations to live, work, and play in the Dallas-Fort Worth area, the city of Lewisville is not usually at the top of the list.

But city leaders in this northern suburb of almost 100,000 residents are changing that as redevelopment moves into full swing in the Old Town area. New houses, townhomes, restaurants, and retail shops are all in the works as developers and entrepreneurs take note of the changing atmosphere.

“Everybody has been hyper-focused on Collin County, but these changes in Lewisville will give people another option,” said David Maez, Broker and Co-Owner at VIVO Realty, which represents the developer Belleville Village, the builders of Uptown Village Lewisville townhomes near East Main Street and East Mill Street in Old Town. “It’s close to Lewisville Lake, close to the airport, close to I-35, which makes it easy to get to Dallas. These changes will make that area more appealing for buyers, especially younger professionals.”  (more…)