Staff Reports
 
Real estate purchase by international homebuyers brought $7.8 billion to the Texas economy, says a new report from Texas Realtors. From April 2018 to March 2019, Texas accounted for 10 percent of all homes purchased by international homebuyers in the United States, with 18,310 home sales out of 183,100 nationwide according to the Texas International Homebuyers Report from Texas Realtors. The U.S. saw a 31 percent decrease in the number of foreign buyer purchases compared to the last reporting period.
 
Texas ranked third in the nation for homes sold to international buyers, behind Florida and California, with the bulk of those buyers hailing from Mexico and India.  Of all homebuyers from Mexico, 28 percent purchased a home in Texas. The next closest state, California, had 10 percent of the total homebuyers from Mexico. Among buyers from India, 13 percent chose Texas — just behind first-place Florida, with 14 percent.

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champions

Champions School of Real Estate CEO and founder Rita Santamaria, left, and the company’s president, Kimberly Dydalewicz, right.

From staff reports

It was announced with a literal passing of the baton — a golden one, no less — but Champions School of Real Estate founder and CEO Rita Santamaria has handed the daily business operations of the well-regarded school to Kimberly Dydalewicz, who has served as company president for the past five years.

The move was announced to the company’s nearly 60 full-time employees at the company’s 2019 statewide retreat, where Santamaria handed an engraved golden baton to Dydalewicz at the school’s Austin campus.

“My passion is my business. I love it dearly,” said Santamaria, who founded the school 35 years ago.”I’ve never allowed myself to get up in the morning and think anything other than Champions School of Real Estate. I still have so many ideas. I want to take Champions School of Real Estate to places we haven’t even gone to yet. This is another defining moment for our company; Kimberly and I both know that she’s ready to take on the day-to-day operations.” (more…)

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…)

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…)

unemploymentThe unemployment rate for Dallas-Fort Worth held relatively steady in July, Dallas ISD seeks volunteers for 2020 bond subcommittees, and we find out what county in Texas is shrinking the fastest, all in this week’s roundup of real estate news.

Dallas-Fort Worth Unemployment Rate Holds Relatively Steady in July

The unemployment rate in the Dallas-Fort Worth-Arlington MSA rose only slightly from 3.3 in June to 3.4 in July, the Texas Workforce Commission reported last week. However, 3.4 is still an improvement year-over-year, when the rate was 3.7 in July 2018. (more…)

property taxAlmost a year after voters approved a 13-cent property tax hike in a Tax Ratification Election, the Dallas ISD board of trustees will discuss reducing the rate this Thursday.

In November, voters approved raising the rate from $1.04 to $1.17, the first increase since 2008. The agenda for Thursday’s regular meeting includes discussion of reducing the rate to about $1.06 per $100 valuation. 

Specifically, the measure would set the maintenance and operation tax rate at $1.068350, and the debt service tax rate at 242035 cents, which winds up being about $1.31 per $100 valuation, a 3.26 percent decrease in the total tax rate.

“We appreciate the tax payers helping us out when we needed you and the state leg. for finance reform,” said trustee Miguel Solis on Twitter. “Proud to lower those taxes.”

In May, the Texas legislature passed sweeping education funding reform, which was signed by Gov. Greg Abbott with much pomp and circumstance. All 139 House members and all 30 state senators voted to approve House Bill 3, which included $6.5 billion in public education funding and teacher pay increases, and $5.1 billion to lower school district taxes. (more…)

champions

From staff reports

Just a year after naming its first vice president in company history, Champions School of Real Estate named its second at a statewide company retreat in Austin. 

Champions CEO and founder Rita Santamaria and president Kimberly Dydalewicz announced human resources director Debi Bliazis would be promoted to vice president, effective immediately, at the company’s awards dinner.

Bliazis had been previously named as the company’s Employee of the Year in 2016 and has been with the company for almost 10 years, overseeing all human resources responsibilities with new and current employees from her offices at Champions’ Houston North campus.  (more…)