Michael Reynolds Joins Briggs Freeman to Focus on Clients, Luxury Market | CandysDirt.com

After three years building his own brokerage, Realtor Michael Reynolds joined Briggs Freeman Sotheby’s International Realty last week. Keeping the focus on clients and honing in on the DFW luxury market are his biggest reasons.

“I founded UResidential in 2014 and my vision was to establish a new North Texas real estate brokerage and grow it into other markets,” Reynolds said. “But I ended up doing more management than I had anticipated and my true passion is providing focus and service to my loyal clients.”

After a lot of reflection and talking to other people, Reynolds made the decision to join Briggs Freeman in their Uptown office. The Sotheby’s brand is a big draw for Reynolds, who also noted the excellent team in place there. 

“To me, the Sotheby’s brand is like no other — they’re the best luxury, the best branding, and the best marketing,” he said. “They’re the only brokerage I would want to be working with if I’m not working for myself.” 

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3928 Amherst A

University Park is one of the top 10 most affluent neighborhoods in the country, ideally situated in DFW, and real estate there goes fast! I’ve found a timeless traditional at 3928 Amherst Ave. that just hit the market and is full of classic and elegant designer features. This property won’t last long!

Thoughtful spaces are everywhere with 4,295 square feet, four bedrooms, three full bathrooms, one half bath, two living areas, and two dining areas on two stories. I love the library with so many built-in bookshelves and media room. Built in 1996, it’s only had one owner, who’s kept this house in excellent condition.

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DFW rent prices

If it feels like you’re paying a lot for rent, you’re probably right: huge demand for DFW apartments in 2016, coupled with a shortage of supply, has pushed rents and building occupancy to record levels.

DFW rent prices are now averaging almost $1,100 a month, according to MPF Research. Add to that a vacancy rate of under 4 percent, and you’ve got demand at an all-time high. The past year’s demand total for apartments in North Texas jumped to 27,120 units, up sharply from the 2015 volume of about 17,000 units.

Fort Worth ranked sixth in the nation for rent increases in 2016, going up 6.7 percent over the previous year. Dallas was close behind, at number 11, with a 6 percent increase over 2015.

“With out apartment clients, we’re getting a lot of people relocating who are unsure if they want to buy or not,” said David Maez, co-founder of Vivo Realty Group. “I think we going to see competitive rent prices continue, even with the inventory that’s coming up.”

There are now almost 50,000 apartments under construction in North Texas, which is about 9 percent of nation’s building activity. That’s the country’s biggest block of product on the way by a large percentage, according to RealPage. About 29,000 of those apartments scheduled for completion in 2017.

“Dallas-Fort Worth is the country’s top spot for apartment demand by a huge margin, which speaks to the strength of the local job market and household formation pace,” said RealPage chief economist Greg Willett. “There’s a great mix of expansion in both the urban core and the suburbs.”

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This is the third installment of a new occasional column called Getting Real About Renovations. We’re looking at renovation realities for all sorts of projects, from hardwood floors and open floorplans, to master suite additions and kitchen upgrades. We’ll give you the unadulterated truth about options, costs, effort, Realtor opinion, and estimated ROI for these projects. You can read the last one about garage doors here

When people think of home renovations, things like “new kitchen” and “hardwood floors” typically come to mind. But when it comes to bang for your buck — and it might not be as sexy as a new vaulted ceiling or bathroom tile treatment — you really can’t beat adding insulation.

Both nationally and in Dallas, the top home remodeling projects last year were those that increased the functionality and sustainability of the home. They did this by improving either a home’s drive-up appeal or energy efficiency, according to the 2016 Cost vs. Value Report by the National Association of Realtors and Remodeling magazine.

Fiberglass attic insulation, which increases a home’s energy efficiency, ranked among the top five most profitable projects nationwide. In Dallas, it recouped 100.9 percent of initial investment, based on an average project cost of $1,482, according to that report.

“I think adding insulation is a great ROI in most cases —it is relatively inexpensive, as compared with radiant barrier, HVAC, solar panels, and a lot of other energy efficiency features,” said Kay Wood, a Realtor with Briggs Freeman Sotheby’s International Realty. “There are also sometimes incentives from Oncor or federal tax credits for increasing the efficiency of your home. I always encourage clients to think about how long they plan to stay in their home and how long it looks like it will take to see that savings pay for their investment. Energy efficiency and green features can also improve resale.”

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