North Dallas Real Estate

No new major DFW retail projects in the works for 2010

2010-01-28T19:08:00.000-08:00

The list of new retail stores planned for Dallas-Fort Worth (DFW) is short this year, and most projects complete developments that opened in 2009, according to an annual shopping center study released by Dallas-based Weitzman Group.

Last year, the region added 2.9 million sf of retail space, the lowest this decade and well below 2008's 4.7 million. The area just barely posted a gain in net leasing of 464,404 sf.

This year, DFW is poised to add a mere 1 million sf of retail space.

Occupancy rates are also the lowest of the decade. Last year, 86.4 percent of shopping center space was leased. The peak in recent years was 91 percent in 2002.

With 179 million sf, DFW is the largest retail market in Texas and one of the largest in the U.S.

While there are no major new projects in the works, the region is doing better than other U.S. markets, said Bob Young, managing director of the Weitzman Group. "Even with our challenges, DFW has performed as good, or better, than any market."

Kroger's director of real estate, Terry Evans, said the state is getting its fair share of the nation's No. 2 grocer's capital spending. Half of Kroger's 210 stores in Texas have been remodeled, expanded or relocated in recent years, and that has helped it increase its market share.

It's opening its first local Marketplace store in Frisco today and expects to open a second in Fort Worth's Alliance Town Center by year's end.

In 2011, Kroger is planning a third Marketplace store in Little Elm.

In March, German-owned discount grocer Aldi Inc. will start opening the first of its planned 27 stores for North Texas.

Whole Foods Market opens at Park Lane in March. Dillard's, The Container Store and Whole Foods are part of this year's expansion of the Village at Fairview.

Rounding out the list is a Tom Thumb-anchored center under construction in Rockwall and the first phase of Denton's Rayzor Ranch project of small-shop retail and possibly Walmart and Sam's Club.

[Dallas Morning News]

Broadstone Parkway in Dallas near Galleria changes hands

2010-01-28T19:03:00.001-08:00

(Dallas) - USAA Real Estate Co. acquired Broadstone Pkwy., a 331,473-sf, Class A mixed-use development in Dallas from Bank of America.

The property includes 333 residential units and 40,070 sf of retail space on 7.4 acres at 5005 Galleria Dr. across from the Galleria Dallas. The units are less than 7 percent vacant while the retail portion has a nearly 58 percent vacancy.

Byron Nelson tourney home Four Seasons at Las Colinas facing foreclosure

2010-01-28T18:45:00.000-08:00

One of the Dallas area's most exclusive hotel properties is facing a possible foreclosure.

Lenders have filed to foreclose on the Four Seasons Resort and Club Dallas at Las Colinas, a 400-acre hotel, spa and golf club in Irving.

The more than 400-room hotel is one of the state's top-rated accommodations and hosts the annual HP Byron Nelson Championship golf tournament.

U.S. Bank NA is seeking repayment of a $183 million loan on the property and has scheduled a forced sale on Feb. 2, according to legal filings.

The foreclosure posting is the largest in North Texas in more than 20 years.

"I don't think we've seen one this large in the business cycle," said George Roddy, CEO of Addison-based Foreclosure Listing Service. "That's a very big complex."

The California-based owners of the Four Seasons Resort have been in a dispute with the project's lenders since last fall.

In November, a lawyer for Los Angeles-based BentleyForbes said the borrowers had missed a scheduled debt payment and were negotiating with the mortgage holders. He said the lenders were taking tactical moves to "get their attention."

The Four Seasons has been on watch lists of major properties with troubled debt for several months while negotiations with the lenders were continuing.

The hotel owner said Wednesday that the foreclosure posting was not unexpected.

"BentleyForbes remains in proactive discussions with its lenders at the Four Seasons Dallas and is committed to working out a successful financial structure recognizing the interests of all vested entities that will bridge the challenges of the current situation," spokesman Chris Egger said.

"BentleyForbes has demonstrated its good faith and continued commitment to the Four Seasons Resort & Club Dallas at Las Colinas through $60 million of improvements during the past two years, improvements that reflect a significant contribution of capital and vision to the long-term success of the property."

BentleyForbes has owned the Irving resort complex since 2006. Four Seasons operates the facility with a long-term contract.

"We do not expect any change in our day-to-day operations or services," Las Colinas Four Seasons general manager Michael Newcombe said Wednesday. "This request for [debt] restructuring is consistent with similar actions being taken by many hotel owners nationally and internationally in response to global economic conditions. We are not unique in this regard."

George Conant, tournament chairman for the 2010 HP Byron Nelson Championship, said the golf tournament will not be affected.

"We are pleased with the improvements that have been made to the property in recent years to enhance the golf and fan experience at the tournament, and we look forward to another fantastic championship this May," he said.

The hotel complex is by far the largest such property to wind up on North Texas foreclosure lists in recent years.

In 2001, lenders foreclosed on the 286-room Westin Beechwood hotel in North Fort Worth, but the debt on that property was only $53.5 million.

Last year more than 2,400 commercial properties, including hotels, were posted for foreclosure in the Dallas-Fort Worth area, according to Foreclosure Listing Service.

Commercial foreclosure filings were up 27 percent in 2009.

Source: Dallas News

Plano Foreclosures

North Dallas Luxury Neighborhoods

2010-01-07T15:45:00.001-08:00

North Dallas has many luxurious neighborhoods, but not all are located in "Dallas-proper," many are located in the suburbs adjacent to Dallas. The luxury neighborhoods in Plano, Allen, Frisco, McKinney and Carrollton offer residents the benefits of Dallas, without the traffic and congestion. Some of the suburb areas, such as Prosper, Frisco and Argyle give home owners the opportunity to own sprawling ranches with equestrian stables and much more. The top North Dallas Luxury Neighborhoods of the moment are:

Willowbend - Plano, TX

Bent Tree - Plano, TX

Starwood - Frisco, TX

North Dallas Luxury Homes

Dallas housing poised for a rebound – but how big?

2009-12-23T12:48:00.000-08:00

After slogging through two years of decline, the North Texas housing market is headed for a rebound in 2010. The only question, analysts say, is how strong the bounce-back will be. And that depends on the economy, of course."Any sustained turnaround in sales and construction activity will definitely depend on the economy and job growth," said D'Ann Petersen, a business economist at the Federal Reserve Bank of Dallas. "We do see increasing signs that the local economy has bottomed out, and business contacts say they are through cutting staff."

Petersen said there are signals that the worst is over for the Dallas-Fort Worth housing market. Next year will look better for builders and buyers.

"It will be slow going in 2010, but I do think that Dallas' housing market is in a better position than many other areas of the country to respond to positive economic growth," she said.

During the last two months, sales of pre-owned homes have increased significantly from year-ago numbers, and price declines have slowed. At the same time, the number of homes for sale in North Texas has fallen to the lowest level in more than two years.

Given the demand from homebuyers, builders will have to start more houses in 2010, said David Brown, an analyst with Metrostudy Inc.

"There now is currently less than a six-month supply of homes priced under $250,000 and just over a six-month supply of homes priced between $250,000 and $500,000," Brown said.

Full Story: Dallas News

Tax credit drives surge in home sales

2009-12-23T12:42:00.000-08:00

WASHINGTON (AP) -- Extraordinary government efforts to stabilize the housing market are paying off. What happens when the help runs out is anyone's guess.

Sales of previously occupied homes surged in November to the highest level in nearly three years, spurred by federal subsidies for starter homes and a massive Federal Reserve push to drive down mortgage rates.

The strong figures were driven by a race to take advantage of a tax credit of up to $8,000 for first-time homebuyers. The credit has since been extended to next spring, but the government initially planned to end it Nov. 30.

"It was like the end of the world," said real estate agent Stephanie Somers of Re/Max Access in Philadelphia. "All the first-time buyers converged onto that one month."

The pace of home sales is now up 46 percent from its bottom in January and still 10 percent shy of its peak from four years ago, according to data released Tuesday by the National Association of Realtors.

The real estate recovery depends not only on taxpayer dollars but also on the health of the economy at large, which grew at a less robust pace in the third quarter than previously thought.

The economy grew at a 2.2 percent annual pace from July to September, down from an initial reading of 2.8 percent, the government said Tuesday.

Experts think the economy is even stronger now than it was last quarter, but they expect it to ebb again early next year. And that's when the tax credit will wind down and the Fed plans to stop buying mortgage-backed securities, which could raise mortgage rates.

Whether the real estate rebound can continue without the help remains to be seen.

Full Story: Dallas News

North Dallas Luxury Real Estate

Incomes, spending post gains; new-home sales sink

2009-12-23T12:36:00.000-08:00

WASHINGTON (AP) -- Personal incomes rose in November at the fastest pace in six months, while spending posted a second straight increase. But economists cautioned that the gains remain too weak to sustain a strong economic recovery.

The Commerce Department said Wednesday that personal incomes rose 0.4 percent in November, helped by a $16.1 billion increase in wages and salaries. It reflected the drop in unemployment that occurred last month.

The rise in incomes helped bolster spending, which rose 0.5 percent in November. Still, both the income and spending gains were slightly less than economists had expected.

After taking inflation into account, after-tax incomes are rising at an annual rate of just 1.2 percent. Economists say the recovery will require higher levels of income and spending. This is especially true at a time when households are using some income to shrink debt loads and rebuild savings, rather than spend.

"Annualized income growth of a little over 1 percent will not be enough to drive a significant recovery in consumption at the same time that debt needs to be paid down," said Paul Dales, U.S. economist at Capital Economics.

Contributing to the cautionary picture was a separate report Wednesday that sales of new homes plunged unexpectedly last month to the lowest level since April. November's sales fell 11.3 percent. And sales were down 9 percent from a year ago.

The median sales price of $217,400 was down nearly 2 percent from $221,600 a year earlier, though up about 4 percent from October's level of $209,400.

The report signaled that the housing market's recovery remains rocky.

Economists viewed the two reports as evidence that the recovery from a deep recession is proceeding in fits and starts, with households struggling with a bleak job market. At the same time, analysts said the economy is much improved from this time last year, when the nation was gripped by the financial crisis.

"People are continuing to pay down their debts, and they remain concerned about their financial futures and whether they will have jobs," said Sal Guatieri, an economist at BMO Capital Markets. "Santa's toy bag won't exactly be brimming with goodies this year, but at least he will show up, unlike last year."

Full Story: Dallas News

Economic development leaders bullish on Dallas area

2009-09-15T07:47:00.000-07:00

Economic development leaders bullish on Dallas area
By Steve Brown / The Dallas Morning News
September 4, 2009

The Dallas-Fort Worth area is well-positioned to grow new business after the recession ends, economic development leaders predicted Thursday in a presentation to a local real estate group.

"We have a lot of things going for us," Karl Zavitkovsky, the city of Dallas' director of economic development, told executives at a meeting of the North Texas CCIM real estate property group. "I think we will come out of this earlier than elsewhere in the country and in a lot better shape."

North Texas is not at the epicenter of today's economic and housing downturn, as it was in two previous economic ones – the 1980s savings and loan crash and the more recent burst of the dot-com bubble.

Full Story

It's a Great Time for 1st Time Home Buyers

2009-09-04T11:18:00.000-07:00

It's the best time ever for first time home buyers to buy a home. While the real estate market has experienced turmoil, the programs that have always been there to help first-time-home-buyers are still in place. (Bankrate.com) Combine the existing programs with low home prices and low interest rates and you have a formula for a successful first home purchase!

Federal Aid

There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."

Full Story Bankrate

Dallas Area Home Listings Fall Substantially

2009-09-04T11:13:00.000-07:00

SOURCE: DALLAS NEWS

"North Texas homebuyers who are hoping to find a huge supply of houses for sale may be in for a surprise. While many markets in Florida and the West are suffering from a surplus of for-sale signs, the number of houses available in the Dallas-Fort Worth area has fallen substantially in the last year.

The supply of pre-owned homes for sale is down almost 17 percent from this time last year and has fallen by a quarter from the summer of 2007.

The drop in inventory of newly built homes is even steeper – about 50 percent since mid-2007."

Full Story Dallas News

Obama's Making Home Affordable Plan

2009-09-04T11:06:00.000-07:00

The Making Home Affordable Program is part of the Obama Administration's broad, comprehensive strategy to get the economy and the housing market back on track. The Making Home Affordable Program offers two different potential solutions for borrowers: (1) refinancing mortgage loans, through the Home Affordable Refinance Program (HARP), and (2) modifying mortgage loans, through the Home Affordable Modification Program (HAMP).

President Obama recently announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications. The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.

Find Out if You Are Eligible

Making Home Affordable.gov

Dallas Home Sales Showing Gains, Fueling Optimism

2009-09-04T11:01:00.000-07:00

Dallas Home rose to 2.7% in May to June 2009, the highest level since last September, according to the closely watched Standard & Poor's/Case-Shiller Index. It was the fourth consecutive month of gains in the Dallas index price, S&P said Tuesday.

And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.

The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.

But analysts say not to get overly optimistic about a rebound.

"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.

Full Story Dallas News

Dallas Directory Listings...

2009-08-20T17:36:00.000-07:00

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Introducing dotJenna, A Web Personality

2009-08-20T17:32:00.000-07:00

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Forbes Names McKinney, TX 9th Best Place to Live in US

2009-07-31T07:04:00.000-07:00

Pegasus News

July 13, 2009 - Pegasus News - McKinney was recently named as one of the 25 Best Places to Move in the country by Forbes.com, coming in at #9. Out of the list of 25, six cities are in the Dallas metropolitan area, including Flower Mound at #6, Frisco at #7, McKinney at #9, Carrollton at #12, Allen at #19, and Plano at #25.

Full Story

Development showcases European-style homes, lots

2009-05-22T08:41:00.000-07:00

May 17, 2009

Chapel Creek features Old World style in Frisco, offering custom homes and lots in a setting surrounded by creeks and winding trails.

This LandPlan development features a collection of European-style designs – custom homes and estate homes – priced from the $800s to more than $3 million.

Chapel Creek is one of the fastest-selling communities in the area, offering lots for single-household development in west Frisco. Additional lot discounts are available through May 2009.

Full Story

Far North Dallas homes offer distinctive features

2009-05-22T08:38:00.000-07:00

Sunday, May 17, 2009

Award-winning Cambridge Homes presents Cambridge Gate, a secluded, gated enclave of luxury patio homes located on the west side of Preston Road, just north of Frankford.

Widely recognized for fine design, Cambridge Homes specializes in creating carefree "adult lifestyle" homes. According to Phyllis Firebaugh, sales manager for Cambridge Homes, "These beautiful patio homes are designed for discerning adults of experience and taste. They love the fact that they don't have to give up fine quality and excellent design just because they no longer need large numbers of rooms".

Cambridge's award-winning, carefree patio home designs range in price from the $300s to the $800s. The Designer Model Home at 6169 Stapleford is open from noon to dusk daily or by appointment.

For additional information about Cambridge Gate, call 469-446-2885 or visit www.cambridgehomes.biz.

Source

Dallas-area home prices fall nearly 5%

2009-04-01T09:38:00.000-07:00

A few years ago, news of a 5 percent drop in Dallas home prices would have caused blood to run cold in the local real estate market.

But in the current national housing market depression, Dallas' price decline is being hailed as the best in the country.

Dallas had the smallest home price decline among 20 cities in the January Standard & Poor's/Case-Shiller Home Price Index.

Full Story

Survey shows Dallas-area home prices gained nearly 2%

2009-03-24T06:36:00.000-07:00

By STEVE BROWN / The Dallas Morning News

Most Texas home markets continued to eke out tiny increases in home prices in early 2009, according to a new report by First American CoreLogic.

Texas home prices were up by just less than 2 percent in the California-based housing analyst’s latest survey released Monday.

While Texas prices rose, nationwide home prices in January fell by 11.6 percent compared to a year ago to the lowest level in almost five years.

Full Story

February existing home sales rise by 5.1 percent

2009-03-23T10:29:00.000-07:00

March 23, 2009
By ALAN ZIBEL, AP Real Estate Writer

WASHINGTON – Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.

Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply following the stock market plunge last autumn.

Read Full Story

Collin, Denton debate future Dallas North Tollway extension

2009-03-23T10:17:00.000-07:00

March 23, 2009
By ED HOUSEWRIGHT / The Dallas Morning News

A simple line on a map could translate into billions of dollars for either Collin County or Denton County.

That line represents a proposed extension of Dallas North Tollway, and the adjacent counties are squabbling over the alignment because of the economic bonanza it could bring as homes and businesses spring up around it.

Collin and Denton county officials had agreed the 7-mile stretch should be on the counties' common border to let each share in the riches.

Read Full Story

Koi turn up dead in Fort Worth Japanese Garden after accidental chlorination

2009-02-26T10:07:00.000-08:00

More than 100 Koi fish were discovered dead today in the Japanese Garden pond after the water was accidentally chlorinated overnight.

The garden’s three ponds normally contain about 800 of the brightly colored orange fish that range in size from about six inches to three feet in length.

The accidental chlorination occurred during normal pond cleaning that is carried out every other year.

The procedure involves lowering the water level in the pond and placing two 55-gallon stock tanks filled with raw water in the pool to contain the fish. The tanks are filled with a water line that normally carries raw water, but due to a maintenance procedure at the nearby South Holly Water Treatment Plant, the line also was being injected with tap water. Tap water contains levels of chlorine that are safe for human consumption, but are harmful to Koi fish.

The Japanese Garden is closed to the public today.

Source

Home sales, outlook getting better

2009-02-26T10:03:00.000-08:00

Austin Business Journal
A February survey of public and private builders across the country from John Burns Real Estate Consulting shows that Texas saw new home sales, traffic and expectations pick up in January. The survey gathered information from 236 home building industry executives.

“I spent several days in Texas this month and can confirm that the pick-up is real and is driven by lower mortgage rates in an area where home price appreciation was insignificant and the economy is still OK,” said John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting.

However, Burns said, new home prices are still trending downward everywhere, including Texas.

Full Story

Dallas home prices down over 2007, but still faring better than most major cities

2008-10-02T07:07:00.000-07:00

September 30, 2008

Standard & Poor’s released its S&P/Case-Shiller Home Price Indices for the month of July on Tuesday, proving that while home values in Dallas are down, home prices in the Big D still fare better than in most American cities.

The S&P/Case-Shiller 20-city composite home price index shows home prices in Dallas declining 2.5 percent over the previous year's July and rising 0.6 percent between June and July. Of the 20 cities indexed, Dallas performed second best in one-year changes, second only to Charlotte's 1.8 percent decline for the one-year period.

The 20-city composite index as a whole saw an annual decline of 16.3 percent in July.

Full Story

North Texas cities among those with highest employment gains

2008-10-02T07:03:00.000-07:00

September 30, 2008

A report from the Bureau of Labor Statistics of the U.S. Department of Labor shows a majority of metropolitan areas evaluated for August reporting higher year-over-year unemployment. Of the 369 areas studied, 354 had gains in unemployment.

But based on the report, North Texas is faring significantly better than most metropolitan areas.

Instead of reporting disappointing results, the North Texas region (Dallas-Plano-Irving) posted a year-over-year employment gain of 44,600 new jobs or a 2.6 percent increase in employment in the month of August — the highest employment gain of 32 metropolitan areas surveyed. The broader region of Dallas-Fort Worth-Arlington also reported the largest year-over-year employment increase of 59,800 jobs, out of 310 metropolitan areas surveyed.

Full Story

Southwest begins "fly by" security lanes at select airports

2008-10-02T06:55:00.000-07:00

October 1, 2008

Southwest Airlines Co. said Wednesday it’s rolling out priority security lanes for Business Select and Rapid Reward A-List Customers at certain airports later this month.
Dallas-based Southwest (NYSE: LUV) says the priority lanes, which are branded “Fly By,” are part of an initiative to enhance customer experience by allowing select passengers to move more quickly through the security check-in process.
The lanes will be available later this month at Baltimore/Washington International, Dallas Love Field, Phoenix Sky Harbor International, Orange County John Wayne, Denver International, San Francisco International and Los Angeles International.

Full Story

Bluffview is countryside in the city

2008-10-02T06:50:00.000-07:00

September 26, 2008

By MARY JACOBS / Special Contributor to The Dallas Morning News

There's only one neighborhood in the city that reminds Kim Kanzler of her hometown in Connecticut: Bluffview.

With its winding, hilly streets, abundant trees and variety of houses, Bluffview "is the closest thing to New England that you can find anywhere in Dallas," she said.

Bluffview, in the northwestern part of Dallas, has been "discovered" in the last 10 to 15 years, and prices reflect that. Despite the housing market downturn, "the houses are flying off the shelves," said Douglas Newby, a Realtor.

Full Story

U.S. home prices fall record 16.3%, Dallas prices only 2.5%

2008-10-02T06:47:00.000-07:00

September 30, 2008

By STEVE BROWN / The Dallas Morning News

Against the backdrop of slumping financial markets, there was more bad news Tuesday for the battered U.S. housing sector.

Nationwide home prices fell by a record 16.3 percent in the latest measure of housing values, released Tuesday in the Standard & Poor's Case-Shiller Index.

In the Dallas area, home prices in the July report were down only 2.5 percent from a year earlier in the 20-city monthly survey.

Full Story

How to stage your home to sell fast

2008-09-04T13:09:00.000-07:00

Your stuff may be treasure to you, but it's not to prospective home buyers. If you want to give your home every edge you can when trying to sell, professional stagers can help you decide what to keep and what to store away.

full story

10% of Dallas-Fort Worth homes sell for a loss, Zillow finds

2008-08-15T11:00:00.000-07:00

The Dallas Morning News - August 12, 2008

One out of every 10 homes purchased in the Dallas-Fort Worth area during the last year sold for a loss, according to a new study by the online real estate company Zillow Inc.
And about 10 percent of people who've bought houses here in the last five years owe more than the property is worth.
These statistics – based on the Dallas-Fort Worth-Arlington Metropolitan Statistical area that the U.S. Census uses – are part of a nationwide quarterly housing study released Tuesday by Zillow.
The same report shows that nationwide home values in the second quarter dropped almost l0 percent from a year earlier – the biggest such decline on record.

Full Story

Texas property markets likely to cool but still outpace U.S., economist says

2008-07-18T11:04:00.000-07:00

The Dallas Morning News - July 18, 2008

Texas property markets will continue to outpace the nation, but things are likely to cool a bit through next year.

“The Texas housing markets are going to be spotty,” said Dr. James Gaines, a research economist with Texas A&M University’s Real Estate Center.

Some residential markets “will be doing very well and some will be doing poorly,” Dr. Gaines said to a corporate real estate group meeting in Addison on Thursday.

Full Story

Dallas-Fort Worth home foreclosure postings jump 18%

2008-07-18T10:48:00.000-07:00

The Dallas Morning News - July 17, 2008

Home foreclosure postings in the Dallas-Fort Worth area are up 18 percent in the latest filings.

Almost 4,600 homes are scheduled for foreclosure next month, according Addison-based Foreclosure Listing Service.

That compares with 3,870 postings for August 2007.

Despite the big increase since last year, total foreclosure filings for the D-FW area are below the recent peak in February, when more than 5,300 postings were recorded.

Full Story

Some Dallas townhouses attract buyers but other projects die

2008-07-18T10:44:00.000-07:00

The Dallas Morning News - February 8, 2008

A stone's throw from Dallas' tallest skyscrapers, builder Chris Sorrells is busy constructing a new neighborhood of urban row houses.

His Ross Avenue Brownstones are about two blocks from downtown's Arts District and will be ready next month.

"Now that people are seeing what they will look like, I'm getting a lot of interest," Mr. Sorrells said. "I believe this area of Dallas will be the next Uptown in a few years.

"But it may take a little longer because of our economy."

A few blocks away on Bryan Street, another large townhouse development has stalled. Work halted months ago, leaving unfinished utilities and concrete driveways surrounded by weeds.

That's the story in the current housing market: Some projects are moving ahead and still attracting buyers while others have been given up for dead.

Full Story

Report: DFW won't see big home price declines

2008-04-11T11:01:00.000-07:00

Report: Dallas-Fort Worth won't see big home price declines 11:08 PM CDT on Thursday, April 10, 2008 By STEVE BROWN / The Dallas Morning News stevebrown@dallasnews.com

While North Texas' housing market decline has accelerated in recent months, analysts are still betting that the Dallas-Fort Worth area won't see measurable price declines. Indeed, the latest report from mortgage insurance firm PMI Group says that D-FW is one of the last places in the country likely to see a drop in home prices during the next couple of years. There's less than a 1 percent chance that home prices will fall here, according to PMI's spring risk index report, which was released Thursday. At the same time, PMI says that 13 of the nation's top housing markets have more than a 60 percent likelihood of home price declines. Full Story

GE Invests $18M in Two Apartment Complexes

2008-03-22T20:34:00.000-07:00

ALLEN, TX-GE Real Estate of Norwalk, CT has made an equity investment of $17.8 million with partner BH Equities to acquire two adjacent Class A multifamily assets located in this newly developed community 12 miles north of North Dallas. These new North Dallas real estate properties are Benton Pointe, a 456-unit, three-story garden apartment complex at 425 Benton Dr., and Lansbrook at Twin Creek, a 288-unit, two-story garden apartment complex at 505 Benton Dr.

Builder Features Fixed-rate Financing

2008-03-22T19:32:00.000-07:00

Ryland Homes is offering savings on select homes throughout the metroplex such as the Northeast Dallas real estate market . Buyers who purchase a home ready for quick move-in will save, in addition to receiving a 5.25 percent interest rate on 30-year fixed-rate financing, says marketing manager Melissa Finley. This special financing is available only to qualified buyers who purchase one of Ryland's select quick move-in homes in the month of March and finance with Ryland Mortgage, she says.

Full Story

Sealy's $150M-Plus Plan Ready to Get Under Way

2008-03-18T21:38:00.000-07:00

Sealy & Grant LP will be under way by month's end on infrastructure for 55 of its 82 acres in far north Dallas. The plan is to break ground in August on the first of three 180,000-sf value-office buildings for Palomino Crossing, a $150-million to $200-million development of "green" office and retail.

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Find homes in The Colony, Richardson and Carrollton from the trusted North Dallas Realtor.

Valley View Center Mall Has Shot at Renewal after Macy's Closing

2008-03-16T23:59:00.000-07:00

Changes are in store for Dallas' venerable Valley View Center, which opened 35 years ago at Preston Road and LBJ Freeway and this weekend saw the closing of its Macy's anchor store.

Like Valley View, malls across America are being redeveloped and reimagined amid a wave of department store closings. Macy's has closed more than 75 stores since its 2005 acquisition of its biggest competitor, May Department Stores.

Full Story

Consult our North Dallas Realtor for homes for sale in Dallas and surrounding cities.

Foreclosure Bus Tour Gives Homebuyers a Different View of Shaky Real Estate Market

2008-03-11T22:44:00.000-07:00

The half-day tour includes stops at eight or nine homes reclaimed by banks during the recent wave of North Texas foreclosures. The homes range from extreme fixer-uppers to spotless new abodes with granite countertops and media rooms.

"It gives you a different perception of the foreclosures," Demetria Newkirk, a Carrollton city employee, said Saturday after viewing an elegant two-story North Dallas home recently marked down from $1.1 million to $795,000.

Full Story

If in need of Dallas condos, highrises and urban lofts; try the Dallas Locator Service.

In Dallas-Fort Worth Market, No Flood of Homes for Sale

2008-03-10T05:16:00.000-07:00

"Unlike many other areas of the country, the North Texas home market hasn't seen a flood of properties for sale in recent months.

In February, the number of homes offered through the Realtors' multiple listing services dropped 1 percent from a year ago. And the number of listings added to inventory last month was down 7 percent from last year, the North Texas Real Estate Information Service reported Friday." The Dallas Morning News(March 07, 2008)

Full Story

If you need a home in Dallas and the surrounding areas, go to DFW Homes for Sale.

Commercial Sales Fell in 2007, Too

2008-03-03T03:00:00.000-08:00

Local home sales weren't the only area of decline in 2007. Sales of commercial properties fell in Dallas and Tarrant counties, according to a research by Addison-based Roddy Information Service.

Full Story

North Texas Irish Festival - Feb 29 to Mar 2

2008-02-28T22:24:00.000-08:00

The North Texas Irish Festival is owned and produced exclusively by the Southwest Celtic Music Association, a Texas 501(c)3 corporation, headquartered in Dallas, Texas. It is the second oldest Irish festival in the United States and largest in the southwest.

Schedule of Festivities

For those who seek rental services in the North Texas area for the event as well as for relocation purposes, visit Dallas Real Estate.

North Dallas News Sources

2008-02-26T11:11:00.000-08:00

Al Dia - Hispanic News Paper
Daily Campus - Southern Methodist University Newspaper
Daily Commercial Record - Dallas Business Newspaper
Dallas Business Journal
Dallas Chinese Times
Dallas Examiner - Dallas African - American Newspaper
Dallas Globe - Dallas Online News
Dallas Morning News
Dallas News Daily - Online News Source for Dallas
Dallas Observer
Dallas Voice
Dallas Weekly - Dallas African American Newspaper
El Hispano News - Hispanic Newspaper
El Sol de Texas - Hispanic Newspaper
KDAF - CW 33
KDFW - FOX 4
KTVT - CBS 11
KUVN - UNI 23
KXAS - NBC 5
KXTX - TM 39
Moreover Dallas Fort Worth - Online News Source
MSNBC KXAS - Cable
Quick
Texas Jewish Post
WFAA - ABC 8

Man killed while trying to cross the Dallas North Toll Road

2008-01-10T10:24:00.000-08:00

Dallas News - Jan. 9, 2007 - Man killed while trying to cross the Dallas North Toll Road near Wycliff. A woman in his car said they were from Romania and were fighting about his ex-wife when he got out of the car and took off over the median where he was struck by one car and then fell into another lane and was struck by two more cars.

Dallas Texas

North Dallas Chamber Breakfast for 2008

2008-01-04T10:56:00.000-08:00

Full Story at Dallas News
Jan. 4, 2008

The North Dallas Chamber of Commerce will host a breakfast forum from 7:30 to 9 a.m. Tuesday that will focus on the 2008 Economic Outlook. The conference at the Westin Park Central Hotel, 12720 Merit Drive, will feature a panel of experts discussing the impact of interest rates, tumultuous stock prices and implications of recession on the region and national economies.

North Dallas Real Estate

Woman Finds Dog, Tells Owner in Dallas that she's keeping it

2008-01-04T10:53:00.000-08:00

Jan. 4, 2007 - Dallas Morning News

Woman finds cute pug that escaped the back yard under a fence. The dog napper gives the dog to her daughter for Christmas and sends an anonymous note to the owner with a $20 bill saying the dog has a new name and sleeps with her daughter every night.

Full Story

Dallas Real Estate

Dallas Cost of Living

2007-12-26T10:29:00.000-08:00

Find out about the average costs in Dallas here:

Dallas Cost of Living - Gives basic cost of living for Dallas. Tells items like insurance cost, gallon of milk, gas price, average home price, etc...
Dallas Average House Prices - Extensive data about average home prices in Dallas by House Almanac.
Dallas Average Salaries - PayScale offers detailed report about average salaries in Dallas, Texas, including breakdown by career and years in field.
Cost of Living Comparison Calculator - PayScale offers cost of living comparison calculator.

Post sponsored by Dallas Real Estate.

Dallas School Districts

2007-02-11T22:22:00.000-08:00

Cedar Hill ISD
Carrollton ISD
Coppell ISD
Dallas County ISD
DeSoto ISD
Duncanville ISD
Farmers Branch ISD
Forney ISD
Garland ISD
Grand Prairie ISD
Irving ISD
Highland Park ISD
Red Oak ISD
Midlothian ISD

Trends in Home Home Decor

2007-02-09T01:18:00.000-08:00

Buying a brand new homes? If you're both lucky and rich your walls will be bathed in rich hues that make family and friends sit and stay a spell. If you're really blessed you have the gobs of faux finish spattered about with a burnt umber gloss for the aged plaster patina. If you're like the rest of us, sometimes lucky and rich in spirit, you're starring at those white walls wondering how to make winter white look wow. Brrrrr

Brand new homes sometimes come with pretty colors, but for the most part it's more economical to paint after your house is built. If you're not an interior designer, what can you do to assure your walls welcome you and yours? Here's a few tips from someone just like you--me. Only I have taken the time to write down my wall ponders for your benefit. This is not the decorator's gospel... it's just a normal gal's guide to making her four walls pop.

1. Choose warm colors. If I've learned anything in my life, it's that you want a warm and inviting feeling in a house, unless you are an ultra modern condo dweller. Warm colors with hints of red, orange and yellow remind us of warm sunlight as opposed to cold colors that make you think of being freezing...(who wants that at home?) Neutral colors are just that--neutral, boring, plain and are good for walls as a type of visual relief.

Paint colors for 2007

Lower preowned home sales

2007-01-28T18:38:00.000-08:00

DALLAS (Dallas Morning News) – December was the seventh consecutive month of lower preowned home sales and the fourth consecutive month that home prices were down from the previous year. Sales were down 5 percent from a year earlier, and prices were 2 percent lower, according to statistics released by the North Texas Real Estate Information System.

At year’s end, nearly 41,600 preowned single-family homes were listed in North Texas, 9 percent more than a year earlier, yet less than a six-month supply, which is considered healthy. The average of 76 days on market was up slightly from 2005.

Some of the largest sales declines in 2006 were in homes priced under $150,000, where buyers were affected more by higher mortgage rates. However, median sales prices, hovering around $150,000, were up about 2 percent during the year.

The number of homes sold for $1 million or more increased 18 percent.

Industry analysts say it is too early to tell whether 2007 will be a better year for the housing market.

"January and February will probably still have some decline — normal cyclicality," said Jim Gaines, research economist with the Real Estate Center. "By March and April, expect an uptick. If not, Dallas may have a rough 2007, but I don't think it will."

D/FW third busiest airport

2007-01-24T23:13:00.000-08:00

Dallas/Fort Worth International Airport is still the nation's third busiest airport. It retained its rating as the nation's third busiest airport with 702,713 flights, according to statistics from the Federal Aviation Administration. That's a 2.2 percent decrease from 2005. Hartsfield-Jackson Atlanta International Airport remained the nation's busiest airport with a total of 976,307 flights in 2006, down 0.4 percent from 2005. Chicago O'Hare, ranked the second-busiest airport, had 958,643 flights in 2006, which was down 1.4 percent from 2005. One reason for the overall decline in the number of flights is that the nation's legacy carriers have been reducing their number and capacity of their flights to trim expenses and to fly routes with fuller planes.

[Dallas Business Journal]

D-FW builders scale back home starts

2007-01-24T23:00:00.000-08:00

Single-family home starts in the Dallas-Fort Worth area dropped more than 17 percent during the fourth quarter, according to statistics released by Residential Strategies Inc. With 9,629 units, it was the weakest quarter for housing starts in two years, the Dallas-based research firm reported. Sales of new homes in the fourth quarter also dropped about 4 percent compared to a year earlier. Builders sold 10,956 homes. But with almost 12,000 unsold new houses on the market in North Texas, there may be further declines in construction, said Residential Strategies' Ted Wilson. Early spring is normally a boom time for residential builders. "Things are not gloomy in the Dallas-Fort Worth area," Wilson said. But there are "adjustments that need to take place over the next six months." Even with the recent cutbacks, builders managed to start a record 48,035 homes in the D-FW area last year. Sales totaled just over 46,000 units, an increase of about 5 percent. At the end of 2006, about a three-month supply of unsold new homes was on the market in North Texas. The fourth-quarter decline in new home sales mirrors the fall-off in sales of preowned homes in North Texas. Earlier this week, the North Texas Real Estate Information System reported that preowned home sales in December were down 5 percent from a year earlier.

[Dallas Morning News]

TI to cut 500 jobs in Dallas area

2007-01-24T22:52:00.000-08:00

Texas Instruments Inc. said that it will cut about 500 jobs in the Dallas area by the end of 2007. Weaker demand for high-end cellphones is pinching the world's largest maker of chips for mobile phones. The cuts will mostly come from the company's research staff, and some of that research will now be done by the semiconductor foundries that build chips for TI. A TI spokesman said the Dallas-based firm currently has about 10,500 employees in the area, and will probably have about 10,000 by the end of the year. Worldwide, Texas Instruments has about 31,000 workers.

[Dallas Morning News]

In slowdown, a boom for high-priced homes

2007-01-24T22:18:00.000-08:00

While overall residential sales in North Texas were down slightly in 2006, sales of high-priced homes continued to soar. Sales of houses priced $1 million and more jumped 18 percent last year. And the number of pre-owned houses priced from $800,000 to $900,000 that changed hands was up 23 percent from 2005, according to statistics from the North Texas Real Estate Information System. Indeed, houses sold in the Park Cities, North Texas' most expensive residential enclave, sold at an average of 97 percent of list price in 2006. Not a lot of price cutting going on there. And it's eye-opening to see that a record 786 homes in the Dallas-Fort Worth area priced $1 million or moretraded in 2006, a year when most of the headlines were about the U.S. housing slump. Million-dollar home sales have more than doubled in the area since 2000. In December alone, traditionally one of the slowest months for home sales, 55 houses priced in the millions were sold the D-FW area. That's about 1 percent of the total market.

[Dallas Morning News]

Dallas Realtors

2007-01-08T16:50:00.000-08:00

Are you looking for a groovy realtor? Check out my recommendations below.

Brenda Mancil, Realtor® North Dallas Realtor specializing in Plano Real Estate, Frisco Homes, Carrollton properties, commercial properties and Dallas Condos. REMAX Premier Properties Plano, TexasPh: 972-403-2070

Bernice Edelman, Realtor® Dallas Realtors - Specializing in Highland Park Real Estate, Park Cities Homes and Preston Hollow Real EstateKeller Williams Elite Dallas, Texas Ph: 214-420-3771

Bryan Frazier, Realtor® Dallas Real Estate Guru - specializing in Dallas, North Dallas Real Estate, Plano Homes, Frisco New Homes, McKinney Custom Homes, Flower Mound, Denton Homes. Prudential Texas PropertiesPh: 817.442.5345Cell: 214.405.4628

White Rock Lake, Dallas Texas

2007-01-08T16:43:00.000-08:00

White Rock Lake - We don't have much nature in the City of Dallas, so White Rock is pretty glam nature if you ask me. Yes, it's too green to swim in, but at least you can see where the city gets it's water supply! There are lots of fun things to do at White Rock including the most awesome dog park ever, and a fab running trail that's about 7 miles around. You'll find lots of runners, joggers, walkers and bikers "looping the lake" with neither huff nor puff. Enjoy the sunset as sailors waft in the dingy green skyscape. Ahhhh....

The Dallas Shopping Mall Experience

2007-01-08T16:40:00.000-08:00

Are you interested in Shopping Big D? You're in luck! I've collected all the shopping malls in the city, just for you, my wonderful Blog Reader. Enjoy!

North Park Mall - Dallas TX This is by far the best indoor shopping mall in Dallas with the best stores and location. New stores to this mall include Barneys, Oscar de la Renta, Michael Kors and Bottego Veneta.

Galleria Dallas - Dallas North Tollway, Dallas TXRunning a very close second for the best indoor shopping mall in Dallas is the Galleria. My favorite stores in the Galleria are Nordstrom, MaxMara and Louis Vuitton .

Highland Park Village - Highland Park TX A favorite haunt of wealthy Highland Park residents, this outdoor mall is too pricey for the everyday shopper. If you're making bank, check out Calvin Klein, Hermes, Chanel and Jimmy Choo.

West Village - Dallas TX More than a place to shop, the new west Village is a trendy place to have fun. Outdoor shops line the streets with hip finds remniscent of SOHO in Manhattan and New York City. Visit the restaurants, spas and stores for home interior, pets and clothing.

Mockingbird Station - Dallas TX Wow! What a fun place to visit. When I'm in a funky mood, I head over to Urban Outfitters or some of the shops in Mockingbird Station such as Ann Taylor Loft, Victoria's Secret or West Elm. This place has a chic feel and good restaurants.

Valley View Centre - Dallas TX Convenient, yet ordinary, Valley View is a great place to go if you need staples, or just to get in touch with your inner-shopper. Not a bad mall at all, just most of the shops are every day like Foleys, Dillards and Sears.

Irving Mall - Irving TX See discription for Valley View.

The Parks at Arlington - Cooper Street, Arlington TX This mall is over-crowded. It's the only mall for miles that serves Arlington and South Dallas so there are gazillions of people flocking to this benign mall at any given time. Good luck finding a parking spot!

Shops at Willow Bend - Plano TXYawn. This is close to my home but I never can find much cute when I go there, despite scouring the racks at Macy's and Bebe. The only place I truly love at Willow Bend is Aldo Accessories and Shoes.

Stone Briar Centre - Frisco TX This is a great mall, a little crowded, but definitely a place to see cool suburbinites scarfing up Bannana Republic and Abercrombie & Finch.

Collin Creek Mall - Plano TX

Golden Triangle Mall - Denton TX

Grapevine Mills Mall - Grapevine TX

Towneast Mall - Garland TX This is the mall I grew up going to, in fact, my grandfather retired
from Sears. Today, all Towneast has going for it is The Gap.

Vista Ridge Mall - Lewisville TX

Relocating to North Dallas?

2007-01-08T16:24:00.000-08:00

If you're relocating to North Dallas and you want to buy a home in the area, you're in luck! There are myriad options for you from single family homes, to highrises, to posh senior living facillities, to luxury estates and hip new condos. All around the city you'll see progress, and it's all about making life more comfortable than ever to live here.

Your options will depend on your place of employment, lifestyle and budget.

Location, location, location. In DFW, you don't have to commute far. It's relatively easy to find a house within 15 to 20 minutes from where you live. If you work near downtown Dallas and are single and fancy free, you're definitely prefer Uptown with all it's funky haunts and social action. If you have a family and work near downtown Dallas and you're a yuppy type but not totally rich, you'll probably find living in North Dallas your best bet. If you're into bargain shopping and downhome country people, head East to Rowlett or Rockwall. Venture South of Dallas for great bargains on estate homes and land. Most family types, however, head North to North Dallas, Plano, Farmers Branch, Richardson, Addison... and if they're really in for adventure and lots of square footage, some roughians take it so far as Frisco, McKinney or Little Elm where you'll get more bang for your new home buck.

Home Equity Loan or New Home?

2006-09-08T15:48:00.000-07:00

A lot of people are scratching their heads about the current real estate market, in Dallas and around the country. People wonder: should I be trying to buy new North Dallas real estate or should I just get a home equity line and make improvements on my existing home?

It's not an easy question, and the right answer is not going to be the same for everyone. Of course if you hate the home you are in right now or do not currently own a home, now is a great time to look for a new homes North Dallas. Interest rates are not too high and there are a lot of sellers who are getting eager to sell. That means you can get a great deal on a Dallas new home.

On the other hand, if you really like where you are living, you'll want to think twice before you consider moving. You might not be able to find a house in as nice a location, in the same school district, or with all the amenities you want. In that case, if there are improvements you would like to make to the home that would make you a lot happier to live there, you could look into a home equity loan (assuming you have equity in your home) and leave the North Dallas real estate buying to others.

On the other hand, you might want to look into some investment real estate if you've got some extra money lying around and are happy with the home you now live in.

Using your home as collateral on a loan for home improvements is a good way to get a lot of cash at a decent interest rate. But, a word of warning: you are using your home as collateral, and defaulting on a home equity loan is still serious business, especially in parts of the country where home prices are actually falling (Texas is not one of those places, yet).

A recent article in the Dallas Morning News brought this point home by saying that, according to Moody's, the number of people who defaulted on home equity loans went up 11 percent for the quarter ending in April compared to the same time last year. Delinquent loans represent about seven percent of the pool of home equity loans, the investment service said.

The article reiterated that it is important not to use your home as an ATM. Also, be an informed consumer; before signing up for one of these loans make sure you are clear on the terms such as upfront costs, closing costs, fees, interest rates, balloon payments and other payments that might be included in your loan.

If you go into a loan with your eyes open, you don't have to turn into a stastistic. And if you decide what you want to do to your old home is more than you can afford even with a home equity loan, consider buying a North Dallas new home. Some people don't like the hassle of remodeling and now's a great time to find a gem for a great deal.

New Homes on Tap for North Dallas

2006-07-25T13:52:00.000-07:00

If you're looking for North Dallas Real Estate, now is the perfect time if you want new construction.

According to the Dallas Business Journal, more than 20,000 new homes are on tap for the bustling U.S. 380 corridor in and around Denton, Texas. This city 36 miles northwest of Dallas is expected to nearly double in the number of households between 1995 and 2025.

Two major master-planned communities are part of this North Dallas Real Estate boom. Aperion is planning a 10,000-home project in the works and is under contract to buy Hunter Ranch, a 3,300-acre development in southwest Denton.

The Stratford Company, a Dallas-based developer, is planning the Cole Ranch project, which should have 7,500 to 10,000 homes on 3,500 acres and will include single family homes and apartments.

There are some smaller developments on tap, too, for those looking for a smaller North Dallas community to call their own. Highland Capital Real Estate Advisors is working on The Hills of Denton, a 1,800-home, 2,000-acre development. And Allegiance Development is working on Rayzor Ranch, a 412-acre mixed-use development.

While these project will naturally take a long time to develop to their full size, now is a great time to be looking for a piece of North Dallas Real Estate to call your own!

Small-Town Life Near the Big City

2006-06-13T09:54:00.000-07:00

It's wonderful to live near a big city. There are so many cultural opportunities, shopping areas, eating opportunities and entertainment districts that there's always something new to discover.

But, let's face it, living IN the big city is not so much fun. There's the constant traffic, noise and congestion. It takes a long time to get anywhere. And for a lot of people, a big city like Dallas doesn't exactly feel like home.

That's why a lot of people choose to live in the suburbs of north Dallas instead of living in the city itself. Dallas real estate can be hard to come by; in the suburbs it is easier to find a home that you will love.

There are many different cities to choose from in north Dallas, including:

Living in the north Dallas suburbs can put you closer to your work, provide better schools for the kids and allow you to live in a place that feels more friendly and small town, all while being just a short distance from the big city.

The Dallas Morning News recently published a story about people moving back to the downtown areas of some of the north Dallas suburbs because they like the small town, historical value of these cities and being close to everything they need. Some people love living in the city, but others would rather have the best of both worlds, living in a smaller town that's very close to the city.

To find out more about which Dallas suburb could be right for you, contact a North Dallas real estate expert. Whether you're looking for Dallas real estate or North Dallas real estate, we can help you find the home of your dreams in the best location for you.