Dallas- Ft Worth will recover over the next six months
The end is in sight for the US housing market's troubles, according to Goldman Sachs. Strategists at the US bank said this week that easing mortgage rates are likely to help the market find a floor within six months – with prices likely to have fallen around 6% from their peak when housing bottoms out.
"The sharpest declines for the US housing market are now behind us," a team led by Goldman Sachs' chief economist Jan Hatzius said in a research note.
Low interest rates, stagnating supply and generous fiscal policies fueled something of a house price bubble in the two years after the coronavirus pandemic hit the US in March 2020. But that was followed by the Federal Reserve's most aggressive monetary tightening campaign since the 1980s, with the central bank raising interest rates from near-zero to around 4.5% last year in a bid to crush soaring inflation. That pushed up mortgage rates to multi-year highs, leading to a slowdown in housing demand.
The retreat in mortgage rates should eventually filter through into the market by making it cheaper to borrow to buy a house, which Goldman Sachs believe will eventually halt the slide in prices.
"Since reaching 20-year highs of over 7% in October, mortgage rates have fallen by a percentage point, causing our housing affordability index to recover very slightly," they said.
House prices could fall more sharply on the US west coast because there's greater excess supply than in the more crowded mid-Atlantic and Midwest regions, the strategists added.
Goldman Sachs named Austin, San Francisco, San Diego, Phoenix, and Denver as the five US cities likely to see steeper price declines of over 10% from their peaks.
"On a regional basis, we project larger declines across the Pacific Coast and Southwest regions – which have seen the largest increases in inventory on average – and more modest declines across the Mid-Atlantic and Midwest – which have maintained greater affordability over the past couple years," Hatzius' team said.
But the bank's view that the market is only set for a minor correction isn't echoed by ordinary people.
Two-thirds of Americans believe that a housing market crash is "imminent in the next three years", according to a NerdWatch survey that sought to gauge views about the current slowdown.
U.S. single-family homebuilding rebounded in December, but the increase was likely temporary as permits for future construction continued to decline amid higher mortgage rates. Single-family housing starts, which account for the bulk of homebuilding, increased 11.3% to a seasonally adjusted annual rate of 909,000 units last month, the highest level since August, the Commerce Department reported on Thursday.
Texas leads the nation in population growth, according to new data from the U.S. Census Bureau. The Lone Star State is now home to 30 million people, adding roughly half a million new residents since the summer of 2021. About half of that growth came from domestic migration from other states in the U.S.
What does the population boom mean for Texas' resources and infrastructure? To answer that question, the Standard spoke with Jake Wegmann, an associate professor at the University of Texas at Austin's School of Architecture, and Pia Orrenius, vice president and senior economist at the Federal Reserve Bank of Dallas. Listen to the story above or read the transcript below.
Texas Standard: Let's talk about the large influx of new residents over the past several years. In terms of demographics, who seems to be moving here and why? What's the big motivating factor?
Pia Orrenius: Everyone who's coming in has a much higher education, on average, than the native Texans. They're a very significant boost to educational attainment in the state. They come into the STEM fields, corporate management, finance — occupations where we have a relative deficit in the state. The big motivating factor is the economy. When we observed domestic migration to Texas, most people moved here for jobs. That stands in contrast to other states like Florida, where they move to retire. At the same time as they come when the economy is doing well, they also reinforce that economic growth by moving here. So, it's sort of a virtuous cycle.
Jake, what are the biggest challenges this rapid population growth poses for Texas?
Jake Wegmann: At the top of my list would be the big run up in housing costs. We've seen that around the country, but it's been especially fast in Texas. Above all, in Austin. This was once one of the cheapest places to live in the country. Now, that's a little bit less true than it used to be.
Pia, when you factor in those housing costs, is the magnet of jobs going to continue to be a major factor in driving migration to Texas? Or could we start to see a boomerang effect?
Pia Orrenius: What Jake is saying is very true, in the sense that we're not as sort of affordable as we used to be. In fact, by some measures, we're less affordable now than the national average, because of the run up in housing costs, especially in Dallas and Austin. There's definitely some growing pains to the population growth and to the in-migration. People were moving here because it was very affordable 10 or 20 years ago. That's going to be less of a draw going forward.
Jake, is this largely something that local leaders are responsible for in terms of coming up with prescriptions to address the problem? Is this a statewide problem? How can we best address this issue of the sharp spike in housing costs?
Jake Wegmann: Both have a role to play. A big factor is that cities are riddled with rules that make it unnecessarily difficult and expensive to build housing. That didn't get much attention in the past because we just thought, "well, we're Texas, you know, we're very lightly regulated. It's really easy to build housing here." We're finding that's actually not as true as we thought. There's a lot of improvement that could be made.
The legislature is getting ready to begin its session. Any advice for lawmakers looking at how to deal with this issue of rising prices and a housing shortage?
Jake Wegmann: To be sure, there are certain things that the state can't do anything about. Like high interest rates, for example. But there definitely are things they could do something about. Let me give just one little example. There's something called a valid petition law, which basically lets neighbors stop development projects near them, or at least makes it a lot easier for them to do it. The state could get rid of that. Lots of other states don't have that. So, there definitely are things the legislature could do.
Pia, I want to move into this transportation issue. It seems like that always takes a backseat to other considerations when folks are coming to Texas. Could this end up strangling a lot of the growth that we've been seeing here in Texas?
Pia Orrenius: We've already seen some examples of it strangling some growth and forcing up the cost of living even higher than they would otherwise be. I think the Austin area is an example of that. I want to keep it in perspective, though, because Texas in general is pretty pro-growth, in terms of regulations regarding the economy, but also with infrastructure, with water and other utilities, and with housing. I mean, we do build a lot. We are typically the number one state in terms of building per capita — both single family housing and multifamily housing.
We also do a lot of toll roads and private-public collaboration on infrastructure. So, it is a very pro-growth state. But I think it's telling that despite that, we're not keeping up with demand in terms of so many people migrating here.
That sounds like this is going to mean a push toward more roads, more construction… more of those sorts of projects.
Pia Orrenius: Absolutely. I think we're still on that trajectory. It should slow some, though, because the outlook for the demography — not just of Texas, but of the nation going forward — is for aging of the labor force and slower growth of the workforce. I think it's going to slow economic growth in general and it's going to slow migration. So, I think we're looking forward at a little bit slower trend growth in the future than we've seen in the recent past. Given that, I think that'll take some pressure off of the infrastructure.
Going into December, there was only one state in the nation that had more than 30 million people. That was California. As we wrapped up December, we learned that is not true anymore. Texas has now reached that psychologically-significant 30 million person level. Is there a point at which Texas should be pulling back on a pro-growth philosophy when it comes to the state? Jake, do you have any thoughts on that?
Jake Wegmann: I'm pro-growth all the way, personally. Growth creates a lot of problems. But if you think that growth has a lot of problems, try not growing. That's how I look at it. Crossing that 30 million threshold, it's just psychological. But I think it is a good reminder that the state needs to act like it. We're not a rural state anymore. We're a heavily urbanized state. Pia is absolutely right that the state's investing in a lot of highway infrastructure.
But, right next door, New Mexico is a tiny state that has a successful commuter rail system connecting Santa Fe and Albuquerque. Meanwhile here in Austin and San Antonio, with three times the population of all of New Mexico combined, we don't have anything like that. I think the state needs to consider ways to further support this massive growth that's happening here.
Pia, what does 30 million mean to you?
Pia Orrenius: Well, 30 million to me is mostly a problem, because everybody is going to the same places. I think more than half of Texas counties haven't grown at all in terms of population. So, what ideas can we come up with, especially now that we can work from home? Is there a way that we can come up with incentives for people to move to medium-sized cities, to move to small cities, to move to rural counties, where the housing costs and living costs are still low and there's still lots and lots of space?
I bet that could be a driving vision for the future, instead of packing everybody into Dallas, Austin and Houston. It would be nice to diversify the locations where people are settling. That could spread some of the byproducts of this growth far and wide.
Art lovers such as our real estate agents feel right at home in the Dallas-Fort Worth area since Dallas has the largest Arts District in the United States. Discover DFW's rich cultural community by participating in Go to an Art Museum Day on Wednesday, November 9.
There are many museums and galleries to explore when you call the Dallas-Fort Worth area home. Are you ready to buy or sell a home in this area? Contact us at RE/MAX DFW Associates to get started.
After a busy day, our real estate agents want a satisfying home-cooked meal with someone else doing the work. When these moods strike, they head for the retro charms of these delightful diners around the Dallas-Fort Worth area.
For a real treat, get your diner meal to go and gather around the dining table in your Dallas-Fort Worth home. Contact us at RE/MAX DFW Associates for experienced help with all your real estate needs.
With more than 7.6 million residents in total, the DFW area is consistently one of America's fastest-growing and most attractive urban areas. In 2022, it crossed the threshold to become the #3 largest metroplex in the United States, and it continues to entice newcomers from far and wide.
Our real estate agents are always glad to welcome anyone who is considering becoming a part of the unfolding DFW story. There are homes to meet every taste, need, and budget throughout the DFW's many colorful and historic communities. And you're sure to love meeting the many small businesses.
Let's drop in on some of the best places to enjoy a coffee in Dallas-Fort Worth:
Contact us to find out more about homes and amenities in Dallas-Fort Worth.
Want to add more curb appeal to your home? Interested in getting your home ready to add to the inventory of Dallas homes for sale?
Refreshing the look and functionality of your front yard is an effective way to boost the curb appeal and overall appearance of your home. Our real estate agents recommend the following options to quickly refresh your front yard.
By making a few small changes or additions to your yard, you can give it the refresh it needs to enhance your home's curb appeal.
Want a home with more outside space? Contact us today to put your home on the market!
The North Texas housing market is downshifting quickly, with Dallas-Fort Worth being the only U.S. market to see a decrease in home sale prices last month, according to a report released today. DFW home prices are down 1.9% year over year in July, according to the latest Re/Max National Housing Report.
And what a difference a month makes. Last month, DFW led the U.S. for home price increases, with June prices up 29.3% over the previous year. In hard numbers, home sales prices in DFW fell to $413,900 in July from $422,000 in July 2021. Homes in DFW spend an average of 23 days on the market before selling.
Higher interest rates and inflation, as well as record home prices, triggered a sharp drop in demand for housing, said Todd Luong, a realtor with Re/Max DFW Associates: "Here at our Re/Max office in Dallas-Fort Worth, our listings are currently getting on average 2.7 showings per week," Luong said. "Last year, at this same time, our listings were earning on average 5.9 showings per week. That is a huge drop in buyer demand compared to the previous year. Record home prices and higher mortgage rates have forced many potential buyers out of the market, especially first-time homebuyers."
While the latest trends may disappoint some sellers, buyers now have more choices and better opportunities for good deals, Luong said. Luong said that the DFW housing market has been challenged with low inventory for years and reached an all-time low earlier this year, with only a two-week supply. Now, however, inventory is increasing. "Although buyers have more choices now, it is still not a balanced market as we only have about a two-month housing supply," Luong said. "In a normal market, you have about a five to six-month supply of housing."
A new report from Zillow also found falling home values, although the numbers didn't match Re/Max's precisely because of different study methods and different geographic definitions of DFW as a metro area, among other reasons. According to Zillow's findings, the Dallas-Fort Worth metro area's typical home value is $396,904, down 1.1% since June, the first month of decline. Values are up 55.4% since July 2019.
Zillow also reported that the mortgage payment on a typical home in DFW is $2,633 a month, including taxes and insurance. That's up 77.4% compared to July 2019.
According to Zillow, inventory in DFW has risen 10.2% since June, and the share of listings with a price cut in July was 22%, compared to 15.6% in June. Nationwide, after two years of unprecedented growth, home values fell for the first time since 2012 as competition for houses eased, according to Zillow's July market report.
The slowdown is being driven by decreased competition among buyers. Zillow's analysis says that affordability pressures have pushed many to the sidelines, and buyers are waiting in the wings to resume their search if and when prices relax a bit. Skylar Olsen, Zillow's chief economist, called the flattening of home values "a badly needed rebalancing. This slowdown is about discouraged buyers pulling back after the affordability shock from higher rates," Olsen said. "As prices soften, many will renew their interest, and we will continue our progress back to 'normal.'"
Luong said he sees positive signs in the market. The interest rate for a 30-year fixed mortgage dropped below 5% after peaking in June. More than 290,000 new jobs were added in Dallas-Fort Worth last year, so North Texas has one of the strongest labor markets in the country. "Reasonably priced homes that are in good condition and move-in ready are still selling very fast," he said. "However, the bidding wars have subsided considerably across the board."
Want to remove pesky odors from your home and improve the quality of your indoor air? Our real estate agents suggest buying an air purifier.
An air purifier removes pathogens from your air, like pet dander, dust, and other allergens, that can affect your health. If you also work from home and spend a lot of time in your home office, an air purifier ensures that you have clean, healthy air in your workspace, helping you feel your best and boosting your productivity.
Here are a few tips to follow when buying an air purifier.
An air purifier creates clean, odor-free air, making it an excellent addition to any home. Ready to put your home on the market? Contact us to get started!
When our real estate agents are asked why they recommend moving to the Dallas-Fort Worth area, they often mention the region's outdoor amenities. The DFW has so many lovely natural areas where you can enjoy wildlife and beautiful plants. One of the best ways to enjoy these natural areas is by riding a bike. Whether you're a casual bike rider or a more serious cyclist, here are some of the top DFW bike trails to visit.
Don't hesitate to contact us if you're still looking for a home to buy. We'd love to help guide your search.
No matter whether you prefer Dallas homes for sale or Fort Worth homes for sale, the Dallas-Fort Worth area is full of fun and surprises for the whole family. Local businesses bring lots of character to the DFW, and markets – from swap meets to farmers markets – go on every day of the week.
You'll never have to go far to have an exciting time looking for unique treasures. From the big cities to the small suburbs, communities make plenty of space for local markets. In fact, there are so many options you may not even know where to start.
Let's visit just a few of the DFW's fascinating markets perfect for shopping local:
Our real estate agents know there are plenty of places in the area for local shopping. It's one of the many perks of living in the area!
Contact us to find out more about Dallas-Fort Worth today.
Dallas is a city with many different sides. It's a tech hub, a foodie paradise, and a gateway to the Wild West. It's also one of the great cultural cities in Texas, and our real estate agents never cease to be amazed by Dallas' vibrant art scene.
The Dallas Arts District is at the heart of that scene. Located in Downtown Dallas, it's the largest arts district in the United States. From museums and art galleries to world-class restaurants and live music venues, there's always something fresh waiting to be discovered. Be sure to check out these attractions in the Dallas Arts District!
Contact us today to learn more about living, working, and playing in Dallas, Texas. It's a unique art and cultural hub in the Lone Star State, and our real estate agents are dedicated to helping you find your dream home in Dallas and the surrounding areas.
The DFW is a delightful blend of urban amenities and country flavor. Contact us at RE/MAX DFW Associates for help with all your real estate needs.
Finding the perfect home is a challenging endeavor under normal circumstances, but searching for a home in a different city or state might seem impossible. Coordinating the purchase of a lifetime from several hundred miles away can seem like a daunting task.
While long-distance house hunting can pose challenges, our real estate agents want you to know that it's not as difficult as it seems. In today's world, with easily accessible online listings and the ability to conduct virtual tours, it's actually never been easier. Here are some tips on how to make your long-distance home search a success:
Buying a home in a new city comes with its challenges, but it's actually never been easier than it is today. Contact us today to check out some great home listings in the Dallas area.
A beautiful, functional kitchen is one of the home's greatest assets. If you love cooking or wining and dining company on the weekends, investing in the kitchen is a great way to wow your guests.
Cooking just happens to be one of our favorite hobbies, and our real estate agents are always investing in the latest and greatest kitchen gadgets. But what kitchen gadgets will you actually utilize, and which ones will just collect dust? If you're looking to enhance your cooking skills or just make things more convenient, here are some of the best gadgets to add to your kitchen:
Cooking is fun and easy when your kitchen is equipped with the best gadgets and appliances. For more tips on how to make the most out of your kitchen, contact us today.
The Dallas-Fort Worth area is fun in every season, but during the summer months, the area is filled with summer events and activities to keep your family's calendar full! Our real estate agents love to spend their off-time at these entertaining places.
Fun is in season all year long. For friendly and experienced help buying or selling a home, contact us at RE/MAX DFW Associates.
Catching a baseball game is a fun family summer evening activity, and Frisco just happens to be home to one of the best ballparks in Minor League Baseball.
Head on over to Riders Park where you can watch the Frisco RoughRiders, a double-A affiliate of the Texas Rangers, compete in the Texas League. Our real estate agents love heading out to the park, grabbing some peanuts, and relaxing on a warm summer night. It's super easy to do because the park is just a short drive from some beautiful Dallas homes for sale.
About Riders Park
Riders Park is a beautiful ballpark equipped with plenty of seating, luxury suites, fun activities, and great food. Concession options include Rojo's, Frisco Smoque BBQ, Frank's Hot Dogs, Coop & Kennel, Fairlane's Hot Dogs, and Ono Pacific Grill where you can grab a delicious cheesesteak. There are also six bars throughout the park where you can enjoy beer, wine, mixed drinks, or frozen margaritas. The park makes for a great community asset that is conveniently located just a short distance from these Fort Worth homes for sale.
The park is surrounded by 5 parking lots, all of which open 2 hours before the game.
Upcoming Games and Promotions
The RoughRiders have several home games between now and September 11, with many taking place throughout the week. Below are some highlights from the upcoming schedule along with some great promotions:
Make sure to buy your tickets in advance for a fun summer evening with the whole family. View the full game schedule here. We love showing our support for our local sports teams, and a trip to Riders Park gives you the opportunity to enjoy America's favorite pastime. Contact us today for more information about local events.
What could be better than a meal with a view? Some of the area's best, trendiest restaurants offer rooftop dining experiences that you won't want to miss, with fantastic views of the city skylines and outstanding food to match. All that's left is to pick your destination and make a reservation. Our real estate agents have the delicious details on some of the best places throughout the DFW for rooftop dining.
Ready to buy or sell your next home close to all of the delicious dining options? Our team is here to help. Contact us to buy and sell homes throughout the Dallas-Fort Worth area.
DFW is known for serving up some of the best barbecue in the entire country, and May is the perfect time to explore what local restaurants have to offer. That's because May is National Barbecue Month, a celebration of all things smoked, grilled, or covered in barbecue sauce. So why not sample some brisket, DFW-style, in honor of National Barbecue Month? Our real estate agents have the details on some of the best restaurants for brisket and barbecue.
When you're ready to buy or sell your next home in DFW, our team is here to help with all of your real estate needs. Contact us to buy and sell homes throughout the Dallas-Fort Worth area.
Do you love baking but wish your kitchen was more functional for your culinary needs? Or, do you want to create a space that makes it easier for you to bake your favorite dishes?
By making a few simple changes to your kitchen, you can improve the functionality and efficiency of your kitchen. Our real estate agents know that many of these projects will make your home more appealing to potential buyers.
Here are some features and additions that we recommend to make your kitchen more baking-friendly.
Want a home with a larger kitchen so that you have additional space for baking? Contact us today to get started!
Will April showers be bringing May flowers to your yard? Our real estate agents may not have green thumbs, but they have beautiful lawns and gardens thanks to help from these great gardening stores and greenhouses around Dallas homes for sale.
Spring Gardening Tips
Now that you've acquired your gardening supplies, how do you turn your garden into something truly marvelous? Follow these tips in your Texas garden.
Looking for a new home with enough space for a garden? Contact us at RE/MAX DFW Associates for help with all your real estate needs.
Want to plan some outings that you and your kids can both enjoy? The DFW is full of family-friendly activities that are entertaining and educational. Our real estate agents love spending quality time with their families at these great spots around the Dallas-Fort Worth area.
Contact us RE/MAX DFW Associates for help with any of your real estate needs.
St. Patrick's Day is coming right up on March 17. It's a holiday that brings a wealth of enjoyable annual events to the Dallas-Fort Worth area.
If you're looking for a way to have fun and get your blood pumping this March, be sure to check out one of these great St. Patrick's Day festivals, 5ks, races, and runs in DFW!
There's always something fun and exciting happening in the Dallas-Fort Worth area. Contact us today to learn more about life in DFW and talk to our real estate agents about finding your dream home in Dallas, Fort Worth, and the surrounding areas.
Limited on yard space? Consider building your garden "up" instead of "out" this spring.
Vertical gardens are a beautiful touch to any home, and they're very much in style this year. Vertical gardens consist of greenery suspended to a vertical wall, frame, or panel. Think of an ivy wall but with a wide assortment of plants. There are also super easy to build and maintain and can give your exterior a unique appeal. Some of our favorite Dallas homes for sale have had well-maintained vertical gardens that really impressed buyers.
Our real estate agents love exterior design trends that include vertical gardens, so they offered to pull together some tips to help you with yours this spring:
When it comes to long-distance travel, airplanes have replaced trains in convenience and popularity. Fortunately, many of the former train routes have been repurposed as these great hiking and biking rail trails around the DFW, and our real estate agents love to explore them. Take in the beautiful Texas scenery when you plan a hike on these Dallas-Fort Worth rail trails.
When you live in the DFW, every day can be an adventure. Thinking about moving to the area and starting your own new adventure? If you're looking at Fort Worth homes for sale, contact us at RE/MAX DFW Associates for friendly and knowledgeable help.
If you feel like you've done it all, our real estate agents have a new date night suggestion for you: Cooking classes!
Cooking classes are both fun and functional. You'll learn to create wholesome, satisfying meals that can save you plenty of money. At the same time, you'll share a unique experience that might just give you a new favorite thing to do together. Maybe your next date includes cooking the dinner of your dreams!
No matter whether you're looking at Dallas homes for sale or down the road at Fort Worth homes for sale, there are plenty of cooking classes to browse. Virtual or in-person options are both available, so you can choose to have date night in the comfort of your own kitchen if you prefer.
Here's a taste of some of the leading local brands for local cooking classes:
Contact us to learn more about real estate in Dallas-Fort Worth.
Dallas is an amazing place to call home for anyone who loves architecture, with a diverse mix of historic buildings and the latest, ultra-modern designs. Around nearly every corner, you will find something interesting to see, whether you explore on your own or take a guided tour. Our real estate agents know a thing or two about Dallas architecture and recommend these stops on the Dallas Architecture Tour to see the many unique structures all around the city.
Are you ready to find a piece of Dallas architecture to call your own? Our team is here to help you find your next home. Contact us to buy and sell homes in the Dallas, TX area.
Like the rest of you, our real estate agents eagerly anticipate new and exciting culinary trends. Unsurprisingly, the DFW is on point with restaurants featuring Filipino cuisine, popcorn, robot service, and other 2022 trends predicted by The Takeout.
Having a well-appointed kitchen is a must, especially if you plan on selling your house in the near future. Kitchen updates hold their value when you resell, plus it's just nice to enjoy cooking in a clean, modern kitchen with new appliances. Here are five updates our real estate agents promise you'll enjoy, and the boost in your home's appeal to buyers won't hurt either.
Just think, with a few carefully chosen kitchen upgrades in 2022, by this time next year, you'll be cooking for the holidays in a much different kitchen... or perhaps in an entirely different home if you're planning a move in 2022! If you're ready to start the search for your dream home or just want to get some information about upgrading your current home to sell, contact us today.
December 18th is Bake Cookies Day. This is a great opportunity to dig in and enjoy some holiday baking. But don't worry — if you're too busy to fit cookie baking into your schedule, there are some excellent DFW bakeries selling holiday cookies that your whole family will love. Here are some of the top bakeries our real estate agents recommend visiting in honor of Bake Cookies Day.
Whether you love chocolate, lemon, peanut butter, or all of the above, these Dallas bakeries have delectable options for your sweet tooth. Make sure you take the time to celebrate Bake Cookies Day. And don't hesitate to contact us if you're looking for a real estate agent to guide you through finding a new home with a perfect kitchen for baking.
It may not be the horse-drawn sleigh of old, but your car serves as a perfect vehicle for seasonal adventures. Our real estate agents can't wait to take in these holiday light displays that are just minutes from Dallas homes for sale.
Have your own festive light display in your new DFW home. Contact us at RE/MAX DFW Associates to learn more.
When our real estate agents heard that National French Toast Day was coming up on November 28th, they got super excited! There are some great breakfast and brunch places in the Dallas–Fort Worth area, and this gave them a reason to try some of them out.
Start your morning out right with French toast from these local restaurants.
If you're ready to enjoy amazing dining options like this all the time, we can help you find the perfect home in the Dallas–Fort Worth area. Contact us today to discuss your goals and start exploring your options.
As the largest state in the lower 48, Texas has no shortage of highways and byways passing through its diverse landscapes. Whether you go by car or motorcycle, hit the open road this fall on one of these entertaining drives recommended by our real estate agents.
No matter where you travel, all roads lead back to your dream home in DFW. Contact us at RE/MAX DFW Associates for cheerful and experienced help with all your real estate needs.
DFW might be a thriving urban metropolis, but the area retains a number of places where nature takes center stage. Our real estate agents refresh body, mind, and spirit with visits to these beautiful nature centers throughout the area.
Ready to learn more about what life in Texas has to offer? Contact us at RE/MAX DFW Associates to learn more.
After weeks or months of browsing Dallas homes for sale, visiting open houses, negotiating with sellers, and dealing with the exhausting relocation tasks, you're finally in your new home. It's time to make your new place feel like home and settle into your new surroundings. For some people, this could fall into place when your new neighbors see your moving truck, but in most cases, you have to put in work to get acquainted with your new surroundings. All it takes is a positive attitude and willingness to make it work out. Here is our real estate agent's list of 5 top strategies to help you get familiar with your new neighborhood.
As stressful as moving can be, getting to know your new neighborhood is an amazing opportunity to welcome new friends, find new passions, and explore the world with a fresh set of eyes. Still looking at Fort Worth homes for sale and aren't sure if you've found your dream spot? Our team can help. Contact us today for more information.
Shopping at local arts and crafts shows is a fun way to spend a few hours while picking up some unique handmade items for yourself or to give as a gift. Whether you're shopping for paintings, jewelry, apparel, or something different, you're like to find some treasures to take home.
Our real estate agents suggest visiting some of the following arts and crafts shows:
Contact us if you'd like to buy a home or sell yours in the Dallas-Fort Worth-Mesquite area. Our agents will help every step of the way.
Pet ownership in the U.S. has never been so high, with 48 million dog-owning households and 32 million cat-owning households, according to the American Veterinary Medical Association. But if you're one of them, and you're getting ready to list your home among Fort Worth homes for sale or Dallas homes for sale, it's important to remember that not everyone loves pets -- particularly when they're trying to look at a home and envision themselves in that setting. Someone else's pet can be a considerable distraction, whether it's the pet itself or just evidence that a pet is in residence.
Keep these seven tips in mind when getting your home ready for the market.
Are you and your pets ready for a new home in the DFW? Our real estate agents can advise pet owners on prepping a home for viewing and on how to find the perfect home your whole family will love. Contact us today.
September 25 is National Comic Book Day, and in honor of the occasion, we highly recommend paying your local comic book store a visit. We're lucky to have some really great comic shops here in Dallas, Fort Worth, and the surrounding areas.
Of course, we know you don't need a holiday just to raid the bins at your favorite comic book store! If you're wondering where you can always find the latest issue of your favorite comics in the DFW, our real estate agents know just where to go.
Great comic book shops are just the beginning of what the area has to offer. Contact us today to learn more about life in Dallas, Fort Worth, and the surrounding areas!
It's a well-known fact that curb appeal makes a huge difference in Dallas homes for sale. Whether you're planning on listing your home soon or not for a little while yet, here are a few outdoor walkway ideas our real estate agents recommend for a quick way to boost curb appeal.
Whether it's for your own enjoyment or you're ready to sell your house, you'll be amazed at the difference a newly designed outdoor walkway will make in your home's curb appeal. For more tips on boosting curb appeal or to chat with an agent about selling your home, contact us today.
Dallas, Fort Worth, and the many wonderful smaller cities in North Texas are home to some of the state's best, most acclaimed wineries. In addition to producing award-winning wines, these wineries often host special events where you can enjoy great food, camaraderie, live entertainment, and unique, behind-the-scenes tours. Many of the area's most popular wineries work together to create wine trails, with coordinated events that make it easy to explore all that various local wineries have to offer. Our real estate agents have the delicious details on 4 North Texas wine trails that you will love to explore this summer.
Dallas Town and Country Wine Trail
The Dallas Town and Country Wine Trail is the perfect option for anyone who wants to visit some amazing wineries close to Dallas homes for sale. There are six great wineries to visit on this trail, including Carmela Winery, Eden Hill Winery and Vineyard, Caudalie Crest, Lone Star Wine Cellars, Landon Winery, and Grayson Hill Winery. Many of these wineries are located in quaint, historic town squares in smaller communities just outside of Dallas. Taste some award-winning local wines, enjoy scenic countryside drives between each winery, and learn more from the experts about how some of the best wines around Dallas are produced.
North Texas Wine Country Trail
Looking for a single wine trail that can keep you busy with new places to explore all summer long? The North Texas Wine Country Trail includes wineries in 22 counties, starting with the DFW region and spreading out through a diverse selection of North Texas communities. There's a winery for every taste on this trail, from urban wineries in DFW to sprawling, countryside vineyards located far from the hustle and bustle of the big cities. There's a ton to explore throughout the summer, and the fun continues well into the fall. Keep an eye out for big events like the Downtown Wine Walks of North Texas Wine Country and the Windsong Wine & Music Festival.
Grapevine Wine Trail
Located just a short drive from the big cities, the Grapevine Wine Trail showcases five of the best wineries in downtown Grapevine. Most of the wineries on this trail are within walking distance so that you can enjoy a leisurely walk through Grapevine's historic downtown between each stop. During coordinated events on the Grapevine Wine Trail, one ticket will give you access to three tastings with food pairings at each winery on the trail, along with a commemorative wine glass from each winery that you visit. Check the website regularly for scheduled events, and plan ahead for transportation if you'd rather not walk between wineries.
Vine & Wine Tours of North Texas
While most wine trails are self-guided, Vine & Wine Tours of North Texas offers a guided, all-inclusive tour of three of the most popular wineries located near Fort Worth homes for sale. These tours will take you to some of the oldest wineries in DFW, with the opportunity to tour production facilities, ask questions to expert winemakers, stroll through the vineyards, and of course, taste some incredible wines. During your five-plus-hour tour, you will be guided by a former winery owner who is happy to tell you more about the industry and the history of wine in North Texas.
Fine wine and great times are never far from your front door when you live in the Dallas-Fort Worth area, and our team is here to help you find your next home in your favorite city. Contact us to buy and sell homes throughout the DFW region.
Mark your calendars, wing fanatics: July 29th is National Chicken Wing Day! It's the holiday we never knew we needed. If you happen to be in Dallas-Fort Worth for this momentous occasion, be sure to check out these great local wing spots.
Ready to learn more about life in the DFW? Our real estate agents are here to help you find your dream home in Dallas, Fort Worth, and the surrounding areas, and you can contact us any time—even on National Chicken Wing Day.
Everything's bigger in Texas, but it looks smaller when seen from the treetops. Ziplining is just one of the outdoor activities that make the Dallas-Fort Worth area such a great place to live. Our real estate agents recommend getting your adrenaline pumping at these exciting parks around the DFW.
After a day outdoors, there's nothing better than heading back to your own DFW home. Contact us at RE/MAX DFW Associates for friendly and experienced real estate help.
Bubble tea—also known as boba tea—has taken America by storm in the last 10 years. This sweet tea-based drink with chewy tapioca balls originated in Taiwan back in the 1980s, but these days it's everywhere.
Case in point: we have some truly great bubble tea joints here in the DFW. Whether you're looking for a new place to get your boba fix, or you're just getting ready to try it for the first time, our real estate agents recommend these awesome bubble tea shops in Dallas, Fort Worth, and the surrounding areas!
Contact us today to learn more about life in the Dallas/Fort Worth area.
Looking for a new place to eat in the DFW area? You're in luck. This area is home to a thriving community of eateries that has something to offer for every hungry would-be diner. Our real estate agents can help you find a home close to countless new DFW restaurants, including the five listed below.
With all of these options to choose from, you'll always have a great place to enjoy a meal in the DFW area. Contact us today for help finding the perfect DFW home for you.
Mother's Day is fast approaching, and there's no better way to appreciate your mom than treating her to a delicious meal. Start Mother's Day with a memorable brunch at a fantastic local restaurant. Our real estate agents have rounded up some of the most exquisite DFW restaurants where you'll find a delicious treat that your mother will thoroughly enjoy:
Do not hesitate to contact our real estate agents to see what we have on offer.
Avid golfers have multiple places throughout the DFW area perfect for working on your golf game. Our real estate agents can't wait to get in the swing of spring at these great driving ranges around DFW.
Whether you're buying or selling a home in DFW, you'll score an ace every time with the help of our dedicated real estate agents. Contact us at RE/MAX DFW Associates to get started.
If you're a homeowner, you know that spring cleaning is essential to a clutter-free home. When winter cold fades away, and spring sunshine appears, it's time to roll up your sleeves and tackle some of those indoor and outdoor chores around the house. Our real estate agents know that buyers pay attention to small details that reflect an organized, well-maintained home. Tackle every spot in your home, even the ones that are commonly overlooked, with these helpful tips.
In a busy household, cleaning the refrigerator, stove, microwave, and dishwasher are chores that often get pushed aside. Although they take time and energy, they're essential to prevent a buildup of spills and food residue, rodents, and potential fire hazards in the kitchen. When spring cleaning:
Sweep and mop under large appliances
Get rid of old food in the fridge
Clean the stovetop and oven with a degreaser
Remove spills and food residue from the microwave
Remove food debris and any broken glass from the dishwasher
Clean coffee makers, toasters, and can openers to remove bacteria
Spring cleaning provides the perfect time to check the expiration dates on food, get rid of old or unwanted items, and organize your kitchen pantry. For faster cleaning, remove items shelf by shelf, starting with the top shelf. Place items on your kitchen countertops while cleaning pantry shelves with warm soap and water or a spray cleaner that removes grime and stains. If you want to label or reorganize food items, this is the perfect opportunity.
Cabinets, Closets, and Draws
Cabinets and drawers can quickly become filled with clutter and unused items, especially after living in a home for a while. Buyers interested in Dallas homes for sale don't want to see clutter overflowing in cabinets, drawers, and closets. Spring cleaning provides the perfect opportunity to get rid of unwanted items, old clothes, and expired medications, so your home doesn't look neglected.
Under Kitchen and Bathroom Sinks
Areas under kitchen and bathroom sinks are commonly used to store cleaning products and household essentials. These areas are often neglected and subject to a buildup of clutter, moisture, leaky pipes, and mold. If garbage disposals are not cleaned regularly with disinfectant, they can build up bacteria from food debris and unpleasant odors. Potential home buyers often check under kitchen and bathroom sinks to look for signs of rotten wood, mold or mildew or standing water that signal potential plumbing problems.
Ceiling Fans. Chandeliers, Lamps, and Sconces
When it comes to cleaning, indoor and outdoor lighting fixtures are often overlooked. For many homeowners, indoor ceiling fans, chandeliers and sconces, lamps and lampshades, and outdoor lighting fixtures don't get cleaned on a regular basis. Unfortunately, the grime, dirt, and dust that builds up and blocks light makes indoor spaces look dark and dingy, and outdoor spaces unappealing to potential buyers looking for Fort Worth homes for sale.
Air Ducts and Vents
Dirt and debris that builds up in air ducts and vents can cause excessive dust in your home and respiratory problems for your family. To remove dust buildup from vents, remove them and wash them with hot soapy water. To clean your air ducts, you need to schedule a cleaning with a local professional HAVC technician who has the proper equipment.
Take the time for spring cleaning to ensure a well-organized, healthy home. If you're interested in buying or selling a home, contact us to find out how we can help with your real estate needs.
Our real estate agents love having an excuse to enjoy a sweet treat. March 14th is affectionately known as "Pi Day" -- and we think that's close enough!
There are so many great bakeries in the DFW area, you might want to start visiting them now, so you're prepared when the big day rolls around. Here are a few of our favorites.
Are you looking for a "sweet" deal on a new home? Our agents would love to show you some of the area's best neighborhoods! Contact us today to discuss your goals and get started.
The parks and trails of the DFW area have so much to offer, and now is the perfect time for an outdoor adventure with your furry friend. Many of the best DFW trails are dog-friendly, with beautiful green spaces to explore and plenty of opportunities for your pup to play with new friends. There are trails located in popular parks and nature preserves and trails that connect multiple local outdoor attractions. Our real estate agents have all of the details, with our guide to 6 trails that you and your dog will love in DFW.
Cedar Ridge Preserve – 7171 Mountain Creek Pkwy, Dallas, TX 75249
The Cedar Ridge Preserve is a nature preserve located close to Dallas homes for sale, with various trails to explore. It's a popular spot for bird-watching, with wooded trails that are also ideal for adventures with your pet. There are a total of 13 short trails winding throughout this outdoor space, all maintained beautifully by a dedicated team of conservationists.
Tails 'N Trails Dog Park – 950 SE Green Oaks Blvd., Arlington, TX 76018
Ideal for dogs who love to socialize, the Tails 'N Trails Dog Park is easy to reach from Arlington homes for sale. This space includes an expansive off-leash dog park that's perfect for playtime, along with trails to traverse. You will frequently find plenty of other dogs here for your pet to play with, especially if you visit on weekends.
Northshore Park Trail – 2908 N Park Dr., Flower Mound, TX 75022
You'll find tons of great trails to explore near Flower Mound homes for sale, including the popular, multi-use Northshore Park Trail. This trail, which is part of Northshore Park, is used by mountain bikers, hikers, and pet owners from throughout Flower Mound. When you're looking for a quiet, secluded spot for a walk, try visiting in the morning or early evening.
Preston Ridge Trail – 6994 Belt Line Rd., Dallas, TX 75254
Looking to explore multiple parks on the same day with your pup? The Preston Ridge Trail connects a variety of parks within Dallas and can even take you all the way to Plano. You can pick up the trail at Fretz Park, then follow it for more than 6 miles as you visit Salado Park, Campbell Green Park, and points beyond.
Trinity Forest Trails – 4750 Great Trinity Forest Way, Dallas, TX 75216
If you're searching for a trail system that offers long, scenic walks, the Trinity Forest Trails are sure to catch your eye. This trail loop runs for more than 10 miles, connecting an eclectic collection of outdoor attractions that include Trinity Forest Golf Course, the Texas Horse Park, and the Trinity River Audubon Center. This trail is twelve feet wide and fully paved, so there's plenty of room for outdoor fun, even when the trail gets busy.
Tandy Hills Natural Area – 3400 View St., Fort Worth, TX 76103
There are plenty of gorgeous outdoor spaces to explore near Fort Worth homes for sale, starting with the 160-acre Tandy Hills Natural Area. This conservation area provides a window into the past of DFW in a classic Fort Worth prairie environment. The land has never been developed and is especially beautiful in the spring when prairie flowers are in full bloom.
Ready to find a Texas home that both you and your favorite pet will love? We can help. Contact us to buy and sell homes throughout the DFW area.
The Central Flyway is one of America's most highly trafficked bird migration routes, and the Dallas-Fort Worth metro area is smack-dab underneath it. That makes this one of the best areas in the country for birdwatching.
One of the things our real estate agents love most about life in the DFW is its abundance of outdoor recreation. That includes incredible birding opportunities. Be sure to check out one of these top birding sites in Dallas, Fort Worth, and the surrounding areas.
Contact us to learn more about life in the Dallas-Fort Worth area. The DFW is a hub for business and culture that also happens to offer incredible opportunities for outdoor adventure.
When winter arrives, nothing beats a tasty mug of hot chocolate. There's never a bad time to enjoy this sweet treat, but just in case you needed a reason to celebrate, you'll be glad to know that National Hot Chocolate Day is right around the corner!
When you're ready to warm up, we suggest heading out and paying a visit to one (or more!) of these locations.
Contact us today to get started.
Have you thought about jumping on the bandwagon and making your home smarter in 2021? If not, maybe you should. There are so many ways smart features increase your home's comfort, security, and efficiency that a smart system bears looking at. What's more, if you're listing your home among Dallas homes for sale or Plano homes for sale, you might include the smart system and appliances as a selling point.
In case you're not familiar with all the features you could have with a smart system, let's look at a rundown.
Manage your home's environment from near or far with a smart thermostat. Use an app on your smartphone or tablet to control the temperature; depending on if you have an in-house humidifier, you might even be able to raise or lower humidity. Some systems can sense your approach and raise or lower the temperature for your comfort. Need an analysis of your energy usage? A smart thermostat can do that as well.
Whether you're trying to find the ideal gift for someone who already has everything or a small, thoughtful stocking stuffer for someone with a sweet tooth, the gift of a sweet treat never goes out of style. Lucky for you, the DFW area is filled with candy shops that offer something to satisfy every taste! From traditional candy made from decades-old family recipes to zany, new candy creations, you can find it all close to home in DFW. Our real estate agents have all the delicious details on 6 great candy shops where you can find your stocking stuffers this year.
Blooms Candy & Soda Pop Shop – 1106 W Main St., Carrollton, TX 75006
Starting as a small flower shop before blossoming into one of the area's best retro candy shops, Blooms Candy & Soda Pop Shop prides itself on serving up candy varieties that you don't see every day. There are more than 800 types of candy available in the store, with unique treats that are a delight for kids young and old.
Fort Worth Fudge and Toffee – 324 N Jim Wright Fwy, Fort Worth, TX 76108
You won't have to travel far from Fort Worth homes for sale to find sweet stocking stuffers, thanks to legendary local candy shops like Fort Worth Fudge and Toffee. Naturally, the fudge is the main attraction, and there are more than 15 types of fudge available to satisfy any sweet tooth. While the shop is not currently open for regular hours, you can still call ahead, make an appointment to visit, and shop to your heart's content.
Kate Weiser Chocolate – 3011 Gulden Ln., Suite 115, Dallas, TX 75212
Searching for sweet, satisfying chocolate near Dallas homes for sale? Make the trip to Kate Weiser Chocolate, where gourmet, hand-crafted treats are always on the menu. If you believe chocolate is an art form, this is a great place to shop. Each piece has been designed to look just as great as it tastes, with expert guidance from lead chocolatier Kate Weiser. No detail is too small for this team, and the results are delicious.
Natalie's Candy Jar – DFW International Airport, Terminal B, DFW Airport, TX 75261
Will your journeys be taking you to the DFW International Airport at any point during the holiday shopping season? Then be sure to check out Natalie's Candy Jar, which has multiple locations throughout the airport where you can shop for sweet gifts. Natalie's Candy Jar is a gourmet, self-serve candy shop with more than 400 varieties available.
Dylan's Candy Bar – 2400 Aviation Dr., Terminal D, DFW Airport, TX 75261
Also located at DFW International Airport, you will find Dylan's Candy Bar, a fun, colorful candy shop that's perfect for finding all of the stocking stuffers you need for the younger members of your holiday shopping list. If you're looking for a larger gift, Dylan's Candy Bar also offers a diverse selection of holiday gift baskets and packages.
CocoAndre Chocolatier – 508 W 7th St., Dallas, TX 75208
Operated by Andrea Pedraza, who has more than 30 years of experience creating world-class candy, chocolate, and truffles, CocoAndre Chocolatier features high-end candy that will look great in any stocking. Go with a classic chocolate or truffle, but don't forget to try unique, delicious treats like the pistachio bark.
Searching for the perfect home where you can share holiday memories with your favorite people for years to come? We can help. Contact us today.
As the holidays draw near, it seems like all of the Dallas homes for sale we see are decorated both inside and outside. Fill your home with holiday cheer, and the fresh smell of pine when you opt for a real Christmas tree. If it's your first year selecting a fresh tree, follow these helpful tips from our real estate agents to find the perfect one for your home.
Once you've found the ideal Christmas tree, it's time to take it home to set it up. Make sure you give your new tree plenty of water, especially at first. If you're listing your home over the holidays, make sure you talk to an agent about decorating Fort Worth homes for sale without putting off potential buyers. Contact us today for staging tips and more!
The crisp air of late fall makes this a particularly good time to go for a bike ride in the Dallas-Fort Worth area. And with Go For a Ride Day coming right up on Sunday, November 22, our real estate agents are excited to share some of our favorite bike trails in the DFW.
Contact us today to learn more about life in the Dallas-Fort Worth area. From wide-open spaces to vibrant cities and towns, it's an incredible place to live, and our team is always ready to help you find your dream home.
Whatever else is going on in our lives, Thanksgiving is a constant, providing us with a comforting sense of gratitude. Celebrate in style with a fine-dining feast from one of these upscale restaurants around DFW recommended by our real estate agents.
In 2021, will you be giving thanks for a new home in Dallas or Fort Worth? Contact us at RE/MAX DFW Associates for help with all your real estate questions.
November 3rd isn't only Election Day; it's also National Sandwich Day. Hot or cold, thin or high, there is no wrong way to make a sandwich. Everybody has their own ideal combination of bread, meat, and cheese, and this simple creation has become the staple of the all-American lunch.
Our real estate agents love our local sandwich shops and pulled together a list of six recommendations we think you should check out on National Sandwich Day.
One of the best parts about living near in or around Dallas / Fort Worth is that there are always new restaurants to try. For more local business recommendations, contact us today!
As culinary icon Julia Child so aptly stated, "A party without a cake is just a meeting." Our real estate agents happily agree that any occasion becomes even more special with a tasty, beautifully-made cake. Add the icing on top of your next event when you order a custom cake from one of these top bakeries around the DFW.
What cake will you choose to celebrate your new home in the DFW? Contact us for help with all your local real estate needs.
Let's be honest — we could all use a glass of wine these days. Thankfully, we don't have to venture far for the vino. Our real estate agents heard through the grapevine that there are plenty of places in the DFW to grab a glass, a bottle, or a carafe of wine at a moment's notice. If you're searching for a new favorite for your wine cellar or just want to sample some unique flavors, we encourage you to enjoy a wine tasting at one of these six local hot-spots.
Love geocaching, or simply experiencing local parks? Then you'll really love living in the Dallas-Fort Worth area, where there are countless parks to explore while you search for hidden treasure. Whether you're in the heart of downtown, on the edge of the city, or in the suburbs, you'll find parks of all shapes and sizes around DFW. Our real estate agents are here to help you start your journey, with our guide to six great DFW area parks where you can hunt for geocaching treasure.
Trinity Skyline Trail – 3700 Sylvan Ave., Dallas, TX 75207
Running along the Trinity River, the Trinity Skyline Trail is the perfect place to do some treasure hunting in downtown Dallas. The Trinity Skyline Trail can be found near the Continental Avenue Bridge and features 5 miles of waterfront scenery where you can search for treasure. This wheel-chair accessible trail is paved with concrete, which also makes it an ideal spot for a bike ride or some inline skating.
Trinity River Trail Fort Worth Branch – 3600 Sansom Park Dr., Fort Worth, TX 76106
You won't have to travel far from Fort Worth homes for sale to hunt for treasure, with the long, winding Trinity River Trail located just a short trip from your front door. This trail is part of the larger Trinity River Trails Network, which includes more than 40 miles of trails around Fort Worth and beyond. Along the trail, you'll find botanical gardens, the historic Fort Worth Stockyards, local parks, and hopefully some great geocaching treasure.
Fish Creek Trail – 400 Cravens Park Dr., Arlington, TX 76018
The Fish Creek Trail, with an entry point at Cravens Park, is a great place for a quick geocaching trip near Arlington homes for sale. This trail stretches for just over 6 miles, beginning at the park and ending near Sheffield Drive. Cravens Park also features its own series of trails, along with extensive athletic fields.
Campion Trail – N. MacArthur Blvd. and W. Hunter Ferrell Rd., Irving, TX 75060
With more than 16 miles of trails that run through both natural and urban areas, the Campion Trail offers a little bit of everything close to Irving homes for sale. Enjoy beautiful waterfront views, rolling meadows, local wildlife, and a huge variety of flowers as you explore this trail that winds all through Irving.
C. Shane Wilbanks Trail – 2520 Oak Grove Loop, Grapevine, TX
Grapevine Lake is a great place for outdoor fun close to Grapevine homes for sale, and the C. Shane Wilbanks Trail connects to a number of parks that surround the lake. Search for treasure, then stop for more family fun at the playgrounds, enjoy a picnic in a comfortable pavilion, or hit the water at one of the boat ramps located around the lake.
Whether you're searching for geocaching treasure or simply going for a stroll, the parks of the DFW area offer endless outdoor entertainment for all ages. Contact us to buy and sell homes throughout the Dallas-Fort Worth, TX area.
While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods. Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of time at home. When it comes to social distancing, as we've experienced recently, the newest trend seems to be around re-evaluating a once-desired city lifestyle and trading it for suburban or rural living.
George Ratiu, Senior Economist at realtor.com notes:
"With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation."
The Harris Poll recently surveyed 2,000 Americans, and 39% of the respondents who live in urban areas indicated the COVID-19 crisis has caused them to consider moving to a less populated area.
Today, moving outside the city limits is also more feasible than ever, especially as Americans have quickly become more accustomed to – and more accepting of – remote work. According to the Pew Research Center, access to the Internet has increased significantly in rural and suburban areas, making working from home more accessible. The number of people working from home has also spiked considerably, even before the pandemic came into play this year.
If you have a home in the suburbs or a rural area, you may see an increasing number of buyers looking for a property like yours. If you're thinking of buying and don't mind a commute to work for the well-being of your family, you may want to consider looking at homes for sale outside the city. Contact a local real estate professional today to discuss the options available in your area.
NTREIS reports 8% Down Across North Texas
While our NTREIS MLS system reports an 8% decrease in listings in April across the over 40 counties in North Texas, the popular northern suburbs of Dallas report a much higher decrease. And it is that significant decrease in listings that is causing some panic buying with buyers trying to find a home. Multiple offers in the northern suburbs are common. Not at all common in other parts of the DFW area.
Below is the actual decrease in listings in April from one year prior for each suburb:
Gardeners are so lucky in the Dallas area. With a little bit of effort, you can grow vegetable crops almost all year long in our warm, sunny climate. That long growing season is also great for producing abundant flowers that nourish butterflies in spring, summer and fall.
In the meantime, here are some things to know about gardening in North Texas, and some recommendations for spring and summer planting.
Weather in North Texas tends to be changeable, and that's truer than ever in these warmer times. During our recent spring, we've seen 95-degree days, followed by a norther that sent the mercury plummeting down to the 30s. Those sudden changes can be tough on gardens, so research plants carefully before you buy. The Texas A&M Agrilife Extension Service in Dallas should be your go-to source for sustaining your garden through inclement weather.
Garden experts abound in North Texas and can advise you on protecting plants from sudden frosts or too much summer sun. For instance, situating plants sensitive to frost by a sunny wall in a warm microclimate can help, as can erecting a vine-covered trellis to shade plants prone to withering from harsh afternoon sun.
Also, watch out for exposed locations where fierce spring winds may wreak havoc, drying out or breaking your tender vegetables or flowers. Planting or erecting windbreaks can help.
It's warm here most of the year, and in summer, it's downright hot. Warm climates usually have an abundance of garden pests and diseases that plague gardens, so be prepared. While some gardeners may adopt a regimen of spraying with chemicals, organic gardening experts support more earth-friendly methods such as using organic fertilizer, compost, and mulch; using organic applications to control garden pests and diseases; and planting plants adapted for our climate.
One of the best garden designs for our area is the raised bed. Raised beds keep plant roots from bogging down in our clayey soils during wet spells. A 4-foot by 6-foot frame (these are available commercially) can get you started.
Double dig your planting spot to get rid of any rocks or roots. Place the frame, making sure it's level and bracing it to keep sides from bowing. Fill it with layers of garden soil and compost, then plant plants, seeds, or seedlings. Cover with mulch. Add extra beds if you have room.
When choosing plant material, you'd do well to study Texas A&M's recommendations for EarthKind landscaping. The recommended plants stand up to the heat and drought of North Texas, having lower water needs than many other plants.
We can help you find a dream home in Dallas where you can make your garden grow. Contact us today.
It is only a matter of time, and possibly within 15 years, that Dallas metro will surpass Chicago metro in population. The latest U.S. census figures released this past week show that based on early 2018 figures, Dallas metro reached 7,539,711 residents, gaining 165,000 over 2017. Chicago dropped for the fifth year in a row, and is now below 9.5 million at 9,498,716. Using the same statistics for 2019, it is expected that when figures are released, Dallas could top 7.7 million, and Chicago drop again, probably to around 9.45 million. The three largest groups moving to Dallas in ranking order are Asian, White and Hispanic.
Currently city and school districts can raise taxes 8% a year without voter approval.
This new bill, passed by the Texas Senate, and now heads to the House, would limit the increase to 2.5% per year.
AUSTIN — Legislation that would slow property tax increases for home and business owners cleared the Texas Senate on Monday, after the sole Republican opponent of the bill stepped aside to allow the vote.
The vote was a victory for Lt. Gov. Dan Patrick, a longtime proponent of property tax relief and champion of the Senate bill. He was again pitted against his political foil, Amarillo Sen. Kel Seliger, the only Republican who openly opposes the bill. Seliger held it up for weeks before changing his mind Monday morning and voting to allow the debate to proceed.
"Today is a historic day," Patrick said after the vote. "We heard a lot of comments from the floor ... from those in opposition who were concerned about cities and counties and their budgets. We're concerned about the people's budget — that's what we're concerned about."
Senate Bill 2 passed 18-12 with Seliger joining the Democrats in opposition. One senator, Brownsville Democrat Eddie Lucio, was present but did not vote. The bill will be debated in the Texas House, which has written its own version of the priority legislation, a week from Wednesday.
Authored by Houston Republican Sen. Paul Bettencourt, a former tax assessor-collector, SB2 would slow property tax growth by limiting how much revenue local governments and school districts can collect each year. It would not make tax bills smaller.
SB2, which was changed on the Senate floor Monday, caps property tax revenue growth for counties, cities and special taxing districts at 3.5% a year, up from 2.5% in the original version. School districts would stay capped at 2.5% a year; however, they are getting a boost of new funding under separate legislation this session.
The cap could be exceeded if taxing districts hold elections and voters approve the increase. Currently, local governments can increase property tax revenue by up to 8% a year without an election.
SOURCE: Meyers Research
Dallas and Houston are the hottest spots in the country for millennial homebuyers. That's what analysts at California-based Meyers Research found in their annual "millennial desirability index" that rated the country's largest housing markets. Austin ranked third on the same list, which compared data on housing affordability, job growth, cost of living and other factors for major metro areas across the country. Meyers Research's director of research, Ali Wolf, said factors such as Texas' relatively low new home prices, strong economy and high quality of life push the state's major cities to the top of the list. Job opportunities, affordability and lifestyle were key factors millennials said they would consider in moving to a new city. Meyers' study is one of two recent studies that give North Texas high marks for first-time homebuyers.
The latest North Texas housing market numbers are not very encouraging, to say the least. Home sales were down in many Dallas-Fort Worth neighborhoods in February, and median home sales prices dropped for the first time since 2008-2009 in both Dallas and Rockwall counties. Dallas County home sales prices fell 2.5 percent in February from a year ago, according to the latest figures from the MetroTex Association of Realtors. Median sales prices slid 4.5 percent in Rockwall County. Collin and Denton counties eked out tiny year-over-year home price gains last month — less that 1 percent ahead of February 2018. The only solid home price gain in the region came in Tarrant County, where houses are still relatively affordable. Lower and moderate-priced house sales are still strong while purchases of expensive properties have lagged.
Homebuilders are starting off 2019 with hopes of another increase in U.S. sales, especially newly built houses. But the building industry also sees an upcoming drop nationally in purchases of preowned homes because of rising affordability issues. "2019 looks like a year of solid, if not spectacular, growth," said Robert Dietz, chief economist of the National Association of Home Builders. "I think new-home sales will be up a tad and existing home sales down." The building industry forecasts a 2 percent rise in nationwide home starts in 2019, making it the best year since the Great Recession. That's the most positive sign in this year's outlook. "We actually have existing home sales declining year-over-year in 2019," Dietz said at the industry's annual meeting this week in Las Vegas. The drop in existing home sales is likely to be between 2 percent and 4 percent this year, according to the latest industry outlook. Preowned home sales in Dallas-Fort Worth fell slightly in 2018 after several years of increases. The decline continued into the new year. Higher mortgage rates and record prices are blamed for the slowdown.
American Airlines is beefing up its flight attendant base in North Texas as the carrier strives to reach its goal of 900 daily departures from Dallas Fort Worth International Airport. American Airlines Group, Inc. will add 700 flight attendants to each of its bases in North Texas and Los Angeles, and move 700 employees from the Phoenix area, a company spokesperson said. US Airways was based in the Phoenix area before merging with American in December 2015. Being "based" in a particular region means that's where flight attendants trips begin and end. There are already 5,700 flight attendants' based in DFW, so with the additions American will grow its flight attendant base at its largest hub by more than 12 percent.
A flood of North Texas houses hitting the market in January means it will take longer to sell a Dallas-Fort Worth home. The number of houses up for sale in Dallas County rose more than 43 percent in January compared with a year earlier, according to the latest numbers from the MetroTex Association of Realtors. Home listings were also up by more than 42 percent in Denton County and were 37 percent higher than a year ago in Collin County.
The wave of properties hitting the market comes at a time when home sales in the area are declining and price increases have evaporated. At the end of last month, there were almost 22,000 houses listed for sale with North Texas real estate agents — the largest January inventory in six years. More than 10,000 additional home listings hit the market in January alone. Real estate agents are warning sellers not to expect a quick sale like the market was seeing few years ago. "You can't expect to get 30 offers in 30 minutes," said Cathy Mitchell, 2019 president of the MetroTex Association of Realtors. "It's a market correction — we couldn't be sustainable the way the market was."
Local real estate agents sold 9 percent fewer homes in December than they did a year earlier — the fifth month in a row of year-over-year declines in home purchases. Last month 7,786 homes were sold through the agents' multiple listing service, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information System. Last year's slight decline in home purchases in the area followed almost eight years of increases. "It's still the second-best year ever," said Dr. James Gaines, chief economist with the Real Estate Center. "The whole state is reverting to a more normal market. "We've been going really, really strong for years, and ultimately that slows down." Higher mortgage rates and record home prices in the Dallas-Fort Worth area have caused some prospective buyers to pull back from the market.
The number of homes for sale in the almost two dozen North Texas counties included in the report was 22 percent higher than a year earlier, with more than 21,000 preowned single-family homes listed for sale with real estate agents. On average it took 57 days to sell a property -- 8 percent longer than a year earlier. Even with the increase in inventory, there was only about a 2.4-month supply of houses listed for sale in the area at the end of December.
Dallas-area home price gains slightly outperformed the national average in 2018.Dallas home prices rose 5.3 percent from 2017 levels while the U.S. price increase was 5.1 percent, CoreLogic reports. CoreLogic is forecasting that nationwide home prices will grow less than 5 percent in the year ahead."The rise in mortgage rates has dampened buyer demand and slowed home-price growth," Dr. Frank Nothaft, chief economist for CoreLogic, said in the report. "These higher rates and home prices have reduced buyer affordability," he said. "Home sellers are responding by lowering their asking price, which is reflected in the slowing growth of the CoreLogic Home Price Index." Along with Dallas' 5.3 percent year-over-year home price gain, CoreLogic found that prices were up 6.9 percent annually in the Fort Worth area and were 5.8 percent higher in San Antonio. Houston prices rose by just under 4 percent from a year ago. And prices in the Austin area were only 3.4 percent higher than in November 2017.
Homeowners that CoreLogic surveyed attributed the growing home values as part of a strong national and local economy. "A strong economy helps homeowners feel confident about the value of their property," said Frank Martell, president and CEO of CoreLogic. "If recent declines in the stock market shake consumer confidence in the national economy, we may see homeowners' perception of home values change and a subsequent buyers' market emerge in 2019." Even with the declines in the rate of home appreciation, Dallas-Fort Worth home prices are at record levels and have risen more than 40 percent in the last five years.
East-West Line thru Plano, Richardson, North Dallas, Addison, Carrollton, Coppell, Cypress Waters, DFW Airport
Completion Date – December 22, 2022
Trains every 20 minutes
The final approved DART Cotton Belt Line from Plano to DFW Airport
The Dallas Area Rapid Transit board on Tuesday approved $872 million to build its first east-west commuter rail line — the Cotton Belt — even though it doesn't have the actual cash quite yet. DART leaders met with the Build America Bureau in Washington, D.C., last week to confirm that the federal loan that will finance a 26-mile route connecting Plano, Richardson, Addison, North Dallas and DFW International Airport is expected to close Dec. 20. Within the next few weeks, DART expects to be issued a notice to move forward on the project with its design-build partner, Archer Western Herzog 4.0, which was unanimously awarded an $815 million contract Tuesday night, contingent on the federal loan. The contract will run through Dec. 28, 2022, the anticipated completion date.
It also kept the door open for the board to decide next month whether to spend an additional $90 million to $120 million to add a second track along the line, something the board listed as a preference. "We've discussed the double-track subject for a couple of years," board member Paul Wageman said. "We're going to have significant savings over what we thought the finance costs were on this." Cotton Belt was budgeted as a $1.1 billion project.
About half of the project, including the nine rail stations, is double-tracked as currently bid. Though plans are for Cotton Belt to debut as an every-30-minute service, the contract also calls for three more miles to be double-tracked. That would enable enough two-way passing opportunities to allow runs every 20 minutes. If it doesn't fully double-track the line, the board also has the option to spend $27 million to add a second track to a three-mile area of Far North Dallas, where grade levels and four bridge crossings pose a challenge.
The contract already includes $32 million in "betterments" for neighborhoods lining the route, providing for sound walls, rubber chips to minimize track vibration and other amenities. The first six to eight months, according to staff presentations, will focus on design of the project. The first signs of progress on the ground will be utility relocation and foundation work for bridges.
The Cotton Belt will also connect to DART's existing light rail system at stops in Carrollton, Plano and Richardson. But it will be a commuter rail line, similar to the Trinity River Express, which DART co-owns with Fort Worth's Trinity Metro and connects downtown Dallas and Fort Worth.
The declines in D-FW home sales and slower price appreciation are having a bigger impact on consumers' attitudes than their pocketbooks, analysts said. "I am more concerned about the psychological impact of not-so-rosy housing news than I am about the actual underlying fundamentals of the housing market in the Dallas-Fort Worth market," said Daren Blomquist, top economist with Attom Data Solutions. "Certainly the data shows that the market has gotten somewhat overheated and is due for a slowdown, but that slowdown should just be a chance for the market to catch its breath rather than a trigger a panic attack. "Jobs and people are still moving to the Dallas-Fort Worth area in large numbers, which ultimately should keep demand for housing solid," Blomquist said. "But the psychology of the market is more of a wild card and could result in a bigger slowdown or correction."
North Texas home sales would be higher if there were more moderately priced properties up for grabs, Paige Shipp of housing analyst Metrostudy Inc. said. "I believe the 1 percent decrease in sales this year is due to the lack of homes on the market below $200,000, not a lack of buyers," Shipp said. "D-FW has strong job and population growth, which equates to demand for homes. "However, the increasing interest rates have exposed the fact that D-FW buyers cannot all afford homes priced above $400,000, she said.
The Christmas season is upon us, which means that holiday shopping is in full swing. For people who are new to the area or are in town to see our real estate agents about buying a Dallas-Fort Worth area home, finding out where to go for the best shopping experience is essential. To give those new or potential residents a head start, here are five holiday shopping destinations in Dallas-Fort Worth:
Contact us at RE/MAX DFW Associates when you're shopping for real estate in the Dallas-Forth Worth area.
Dallas homes for sale enjoy some of the most beautiful autumn conditions anywhere in Texas. Our real estate agents love every minute of it – and we also love helping people get homes ready to put on the market during one of the best times of the year.
No matter whether you're considering selling your home or want to spruce things up, there are several things you can do to be prepared. With a little effort at the start of the season, you can keep your property clean and neat.
A little work today can save you on repair bills and other troubles later! Plus, the weather couldn't be better for it.
Let's look at things every Texas homeowner should do to get ready for fall.
At RE/MAX DFW Associates, we're proud to be one of the largest RE/MAX companies in the United States. We're not just the largest in Texas, but #1 in the US Southwest. We've gotten there with a combination of expert advice and stellar service.
If you've been thinking about making your move to the Dallas-Fort Worth area, we can help you. We'll work with you every step of the way to answer your questions, help you avoid setbacks, and get you to closing fast.
Contact us today to find out more. We look forward to hearing from you soon!
By Claire Ballor – Staff Writer, Dallas Business Journal, October 10, 2018
With a relatively low cost of living and population growth projections that outstrip other U.S. cities by two times, Dallas-Fort Worth has been named the top real estate market to watch in 2019.
The Emerging Trends in Real Estate for 2019 report from PricewaterhouseCoopers and the Urban Land Institute ranked the Metroplex as the number one market for overall real estate prospects in 2019 out of 78 other cities. Austin and San Antonio also made it into the top 20 for overall real estate prospects in the annual forecast report, which is compiled from thousands of interviews with real estate experts across a spectrum of industries.
Mitch Roschelle, a partner at PwC, said the economic data points analyzed for the report suggest the strength of the economy and the discipline being practiced in the real estate market. "If there is a downturn ahead of us, it won't be real estate that caused it," he said. "Right now there's way more discipline in all activities in real estate than there has been in any other time in the modern era. We haven't gotten ahead of ourselves in terms of real estate development. I hope that real estate folks remain as conservative as they have in creating new supply."
Roschelle said he's seeing that conservative behavior in Dallas-Fort Worth and it has kept the market from getting ahead of itself despite the ever-growing demand and push for growth.
As for what makes North Texas the one to watch next year, he said several factors come into play.
"The things that have been important in years past have been markets that have low cost of living and low, relative to the national average, cost of doing business. That's where companies want to be and that's where people want to be," Roschelle said.
The low cost of living, low cost of doing business and tax efficiency continue to draw people to Dallas-Fort Worth, he said. And so much so that the area's population growth rate is projected to be more than two times the national average in 2019.
"The growth in the population is skewed towards younger folks in Dallas," Roschelle said. "The growth in the 0 to 24 age category is high and in the 25 to 40 category. [The population] is becoming younger, and those people are all the workers for the future."
But as the population in the Metroplex grows, affordable housing is becoming more of an issue. Although affordable single-family homes are a contributor to Dallas-Fort Worth's success, there aren't enough of them, according to the report. The report says focus group respondents in the Dallas area pointed to an increasingly prevalent "not in my backyard" mentality as the reason for the slow down in available workforce housing.
"Dallas traditionally was a place where there was a piece of land, and if someone wanted to build on it, they just built on it," Roschelle said. Now, though, developers are often met with a "you're not building that thing near me" attitude, which tends to add hurdles like cost and time, he said. This contributes to the problem that Dallas-Fort Worth is facing with additions to housing supply not keeping pace with demand.
What the Dallas area has going for it, though, is a diverse and stable employment base thanks to the wide spectrum of industries represented in the area, Roschelle said. The report indicates that the market is expected to have high growth and low volatility when it comes to employment in 2019.
Here are a few things the report says to keep an eye on in 2019:
Issues on the horizon
Dallas-area home prices are rated as less likely to fall in a new risk assessment study. The Dallas area ranks as "low" in risk of a price meltdown in a new study by Arch Mortgage Insurance. That translates to about a 12 percent chance of seeing a price decrease by 24 months from now, according to the North Carolina-based company. Texas is still considered the country's most overheated housing market. Arch Mortgage estimates that home values in the state are more than 30 percent greater than they should be based on market fundamentals. "Texas is likely to become riskier going forward since affordability continues to deteriorate at a rapid rate and it is easier to build there than in most states," the report said. "Among larger metros, Houston (22 percent) was the riskiest." Dallas-area home prices are currently at record levels. But the rate of home price appreciation has slowed significantly this year. Through the first eight months of 2018, median North Texas home sales prices are up about 5 percent. Even with the higher prices, Arch Mortgage in its quarterly report ranked Fort Worth as the best market in the country for millennials to buy houses and get jobs. But they'd better not wait too long, the analysts said.
North Texas home sales dropped in September by the largest percentage in more than seven years. Preowned home sales in the area fell by 7 percent from September 2017. That was the biggest year-over-year sales decline since early 2011, according to data from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems. Home sales by real estate agents have been down in three of the last four months. Higher mortgage costs and years of rising home prices have caused some buyers to pull back from the market. Mortgage rates on average are currently about 4.7 percent — the highest level in seven years — and are expected to go higher in 2019. With September's sales decline, preowned home sales by real estate agents in North Texas are now flat with the same period of 2017. A record of more than 106,000 homes sold in the area last year. "We think things are going to be flat," said Dr James Gaines, chief economist for the Real Estate Center. The Dallas-Fort Worth housing market has cooled significantly since early in the year when sales were still up by double-digit percentage rates from 2017 levels.
Home price growth has also slowed. Median home sales prices rose by 4 percent in September from a year earlier to $251,000. For the first nine months of 2018, prices are up 5 percent from the sale period in 2017. With sales declining, the number of houses on the market in North Texas has growth to 25,895 preowned single-family homes listed with real estate agents at the end of last month. That's 16 percent more homes for sale in the area than a year ago. On average it took 44 days to sell the houses that trade in September — up 5 percent from a year earlier. Currently there is about a 3-month supply of homes available for purchase in the more than two dozen North Texas counties included in the survey.
Dallas homes for sale put you right in the middle of one of the most vibrant communities in the United States. Dallas is rich in history, and it looks to the future, too: It has employment opportunities, schools, and the world-class amenities you'd expect from a great state capital.
Our real estate agents know everything is bigger in Texas. Whenever you're in Texas, the past comes alive. This state--the biggest in the lower 49--has some of the most sophisticated cities around, but it also captures the frontier spirit that first made it special. Even big cities like Dallas still maintain a considerable number of historic sites.
One great example is the Museum of Dallas County History and Culture.
It's the kind of place where you'll feel like you've just stepped into the story of Texas, from pre-settlement to the Old West and beyond.
The Old Red is one of the flagship museums in a state known for them. Standing right in the heart of Dallas at Dealey Plaza, the Old Red itself is a fascinating historic structure. Built back in 1892, it was initially a courthouse. Now, it stocks four floors of interactive exhibits.
Old Red is perched at one of the most momentous crossroads anywhere in Texas. It's just steps from the JFK Memorial, the Sixth Floor Museum, and the city's historic West End. Students, locals, and guests from all over the world make the Big Red part of their educational tour of beautiful Dallas.
The Museum--open from 9 am to 5 pm daily--has all of the following:
When you visit, you'll find a special exhibit gallery on the first floor covering new topics with each season. On the second floor, permanent installations provide enrichment to guests of all ages: Highlights include the four mini-theaters, touch-screen computers, and the learning center. Our team of experts at RE/MAX DFW Associates works overtime to make sure you have all of the best houses on the market at your disposal when you want to move to Dallas-Fort Worth.
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"I would expect this somewhat disappointing spring selling season will be a bit of a wake-up call for (North Dallas suburban) home sellers, and they will eventually consider lowering asking prices, which in turn will bring some buyers back to the table," Attom Data economist Daren Blomquist said.
The slowdown in Dallas-Fort Worth's housing market may be worse than at first glance. Sales of preowned single-family homes dropped 1 percent annually in August in all of North Texas, according to the latest numbers from the Real Estate Center at Texas A&M University. Those numbers include data on more than two dozen counties stretching from the Red River to Waco. When you drill down in the numbers to just the immediate D-FW area, August's dip in home purchase activity was much larger. In the Dallas area, sales of preowned homes by real estate agents fell by about 4 percent in August from a year earlier. Fort Worth-area sales managed to eke out a 1 percent year-over-year rise in home purchases made through real estate agents. But some Dallas-area residential districts saw marked declines in home buying last month.
Real estate agents say the overall numbers understate the housing sector cooldown. A look at individual neighborhoods gives clearer insight into the state of the market. Sales last month were down almost 31 percent in Far North Dallas. They dropped 24 percent from August 2017 totals in Allen, and were off 21 percent in Coppell. Plano had a 16 percent year-over-year sales decline and sales were down more than 11 percent in Richardson and about 9 percent lower in Frisco. Not all of North Texas' markets saw the housing market hit the brakes. Sales soared 40 percent in Prosper, for instance, and were 37 percent higher in DeSoto. The pricey Park Cities market had a 29 percent jump in August sales from the previous year.
Is the housing boom running out of gas? During the last few years, the home market has been on a tear in North Texas and in other parts of the country, with prices soaring and buyers lining up as soon as a sign hits the front yard. But there are growing signs that the fast-paced housing market is shifting gears, with a decline in sales in many markets and smaller price increases. In July, U.S. preowned home sales fell from a year ago for the fifth month in a row. And nationwide new home sales were down almost 2 percent in July, causing analysts at IHS Markit to question if the bull home market has turned bearish. "The economy is strong. Labor markets are solid. Yet, new home sales and single-family housing starts and permits have stalled. How can this be?" said Patrick Newport, executive director of the U.S. economics team at IHS.
Newport said rising home prices and higher mortgage rates have cooled the ardor for home buying. "This has choked off demand," he said. A slowdown in immigration and household formation could also be factors, Newport theorizes. In North Texas, year-over-year preowned home sales have fallen in many neighborhoods, and for the entire region, year-to-date sales were up a measly 2 percent as of July. At the same time, the double-digit percentage home price gains of the last few years have faded in Dallas-Fort Worth. Through the first seven months of 2018, median home sales prices were up only 6 percent from the same period last year, according to sales data from real estate agents.
Property agents say that some first-time buyers have given up after losing out to other buyers or all-cash investors who snapped up affordable homes. At midyear, the number of prospective U.S. homebuyers who said they planned to make a purchase in the next 12 months fell to just 14 percent — down from 24 percent in fourth quarter of 2017, according to the National Association of Home Builders. That's still another sign that the home market — while not in a traditional bubble — may be headed for slower sales in the year ahead. "It's clear that the winds that have boosted sellers over the past few years are ever-so-slightly starting to shift," said Zillow senior economist Aaron Terrazas.
Frisco, for the first time in at least five years, topped the U.S. Census bureau's list of fastest-growing big cities in the nation, adding an average of 37 new residents every day for a population jump of 8.2 percent, data released Thursday showed. The booming Dallas suburb also landed in the ninth spot in terms of the raw number of residents it added over the year that ended in July -- an impressive feat for a city that, at 177,286 people, is still relatively small. The 14 largest cities in the country didn't change from the prior year. Which means that Texas surpassed California's share of the top 15 list, with five cities making the cut. California -- which has about 11 million more residents than the Lone Star State overall -- had four.
Dallas-Fort Worth was one of the top destinations for domestic migrants from California in 2017, according to a recent study. There were 1,051 moves from coastal California, the home of some of the country's toughest housing markets, to Dallas in the first quarter of 2017, according to Alexandra Lee, a housing analyst with the real estate listing and research site Trulia, which did the study. Out of 19,132 moves out of the region during that time period, 5.5 percent went to D-FW. Houston is also a popular destination for people fleeing the California coast — 3 percent of the migrants in the study came to Texas' most populous city, meaning that 8.5 percent of those in the study came to either Dallas-Fort Worth or Houston. The Trulia report looked at census data for transplants from four coastal California hubs: San Francisco, San Jose, Los Angeles and San Diego. Homes in those markets listed for an average of $720,000 in March 2017, Trulia says, compared to $313,000 in Dallas and $250,000 nationally. The home prices in these cities is clearly a major determinant in whether people leave California and to where they move, Lee said over email, but it's not the be-all and end-all. Texas is a big destination for job-to-job flows, a U.S. Census Bureau-designed statistic that measures flows of employees from one company to another when they've been at each company longer than three quarters. The biggest source of these flows is California, which contributed 6,884 in the first quarter of 2016.
SOURCE: Estimates from Texas Education Agency
*School districts with relatively low enrollment (below 1,500 students)
Coppell and Highland Park Pay the Most Per Capita
Property taxes continue to rise, but increasingly for taxpayers in North Texas, those dollars aren't going to local school districts. According to estimates from the Texas Education Agency for the 2018-19 school year, 25 D-FW school districts are expected to surrender $539 million back to the state through recapture, the mechanism designed to better balance school funding between "property-rich" and "property-poor" districts. Statewide, the TEA estimates that 217 school districts will be subject to recapture for the upcoming school year, with $2.69 billion of local property taxes siphoned back to the state.
In the North Texas area, Coppell and Highland Park school districts send the most to the state per capita, both classified as "property-rich" districts to help pay for the "property-poor" districts around the state, mostly along the Texas border with Mexico. Interestingly, Frisco ISD has not been classified as a "property-rich" district but that may change as early as next year, in which then millions of tax dollars will be required to be sent to the state. This will be a financial dilemma for Frisco since the school district has been unable to get voter approval for higher taxes.
The Dallas-Fort Worth region, once again, added the most new residents of any metro area in the country -- roughly 400 per day, or a total of 146,238, over the year that ended in July, census data released Thursday shows. That kept D-FW firmly in its spot as the nation's fourth-largest metro, though the region is catching up to Chicago, whose population has been sliding as economic factors tip the scales in favor of Texas, experts say. The thousands of people moving in both from other states and abroad have powered a population boom in Texas and especially in D-FW, where leaders have made a point of pitching its relatively low costs of living and business-friendly regulatory environment to companies located elsewhere. On the list of the counties that saw the biggest gains over the year, six out of 10 were in Texas, including Denton and Collin counties, which were ninth and 10th, respectively.
"When [Collin and Denton] were smaller, they were up in the top 10 in terms of the rate of growth, and now they're cracking the top 10 in terms of numeric growth because the foundation is there," he said. "The economic development that's going on up there is drawing migrants into those counties."
That, he said, is where the Chicago area seems to be struggling.As of January, Chicago's annual job growth had been the slowest of any of the nation's 12 biggest metro areas. In that same report, D-FW ranked second, behind Phoenix, which also added thousands of residents last year. Meanwhile, the Chicago metro lost more than 13,000 residents. Cook County, which is home to Chicago, lost the most people of any county in the country. Potter said he couldn't pinpoint an exact time when D-FW will surpass Chicago, it's possible that it could happen in coming decades. "It depends on what happens in Chicago -- if they continue to lose population and if D-FW continues the pace that it is," he said. "We could see it in the next decade or the one after."
According to projections from Potter's office based on growth trends from 2000 to 2010, D-FW's population is expected to grow to almost 10 million by 2030. And experts don't expect that to slow anytime soon. Still, Potter said that as living costs rise in D-FW and decline in Chicago with shifting demand, some of the differences between the two metros could even out.
Dallas continues to add over 100,000 jobs annually and the unemployment rate has remained at 3.6 percent, a very low level not seen in the past 20 years. While the outlook is for continued rapid growth in the region, it depends critically on a steady flow of workers into the state and on trade-friendly policies. Already the fourth largest metro area, Dallas-Fort Worth is growing faster than the nation — about 2 percentage points faster so far this year. However, this outsized performance is only possible with robust labor force expansion. The D-FW labor force increased 3.1 percent over the past year, while the participation rate — the share of people working or seeking employment — was little changed. Thus, the bulk of workforce growth is due to migration. Net migration from other U.S. states was responsible for 40 percent of D-FW's population increase in 2017, while arrivals from other countries accounted for 20 percent. In fact, since 2010, D-FW has had the highest population gains from total net migration among all U.S. metro areas.
by Seth Fowler
(This article appeared in Candy's Dirt. It is specific to the Ft Worth side of the Metroplex, but the facts are the same for all of North Texas.)
Some will agree, and some won't, but data doesn't lie — we are heading into a real estate slowdown.
First of all…R-E-L-A-X. No, we are not heading toward a recession. No, the housing market isn't crumbling. No, it's not time to sell your home, stock up on canned beans, ammo, and get off the grid. But the real estate market is changing … dare we call it a slowdown?
How Can You Say It's a Slowdown?
How can I say this? We are in the midst of an historical real estate boom like we've never seen before and everything we hear and read says the market is hot, hotter, hottest! Please hear me: the Dallas/Fort Worth Metroplex is still by far the absolute best place in the world to live, work, play, and own real estate. The daily, weekly, monthly growth that is happening to this part of the state is still out of this world.
But the market is experiencing a slowdown. Interest rates are rising . Municipalities are getting more and more greedy with property taxes. Home values are increasing at a rapid pace. New home construction is increasingly expensive and not meeting demand. Wages aren't increasing as quickly as prices and that's causing a slowdown in the real estate market.
In Part One we will look at those factors and how they combine to cause this slowdown. In Part Two next week, we will discuss whether or not an actual slowdown in the real estate market is a good thing, a precursor to doom-and-gloom (again, R-E-L-A-X), and what it means for buyers and sellers in this brave new world.
Just The Facts Ma'am
According to the Fort Worth Housing Report distributed by the Greater Fort Worth Association of Realtors, the median sales price of homes is going up, up, and up. Up 9.7 percent from February 2017 to 2018 at $214,000. Up 9.3 percent from March 2017 to 2018 at $219,750. Up 7.3 percent from April 2017 to 2018 at $220,000. We see that the overall price continues to increase, but the percentage from year-to-year is falling a little bit. Across the country home prices increased 8.7 percent over the past year according to a recent Zillow report. Increases like this simply are not sustainable in the long run for a stable economy. While sellers enjoy their large return on their investment, fewer and fewer buyers are able or willing to pay these steep increases.
Active Listings And Days on Market
From same reports active listings were up 3.4 percent from February 2017 to 2018 at 1,668 homes. Up 6.4 percent from March 2017 to 2018 at 1,851. Up 17.1 percent from April 2017 to 2018 at 2,105. The more listings the better right? Well, yes and no is the answer. Yes more listings on the market the better for buyers. But that's only if they are good listings that are priced correctly. Days on market has also increased. Homes sat for one day longer in February 2018 than 2017 at 43 days. Seven days longer in March 2018 than 2017 at 44 days. Seven days longer in April 2018 than 2017 at 37 days.
No — not time to panic — but numbers don't lie. Buyers are gaining some control.
Word on The Street
While considering this article over the past month or more, I have talked to many agents, lenders, and title company officers in the D/FW area and 100 percent of them have mentioned how it appears that the buyers are finally pushing back at the skyrocketing prices. Sellers have been in control for a number of years when it comes to asking price. Depending on the range, sellers have tended toward higher asking prices and buyers have very little recourse. If a buyer wants a house then they'll meet asking price … or go higher. As inventory increases (albeit slightly) we are seeing buyers be a little pickier and price conscious. It's not as if buyers are offering 50 cents on the dollar, but more than ever in the past year we are seeing lower offers as homes sit longer on the market. Of course there are variables like price range and location and condition of homes — I know that — so these stats might not apply for all homes universally.
We have been living in the longest real estate boom in the history of ever. It's not going away, it's just not booming like it was, and I contest that it will not boom like that again. A slowdown is happening and will continue to happen. While this might cause panic for some, it could also be just what our overall economy needs — balance. Come back next week and see what else I have to say. If you disagree with this article — or if you agree — hit me up, let me know, I'd love to hear YOUR perspective.
Well that's all from Tarrant County this week Dirty Readers. Thanks for reading and following and sharing! As always, if you have questions, comments or great ideas for a blog … hit me up!
Seth Fowler is a licensed Real Estate Sales Professional for Williams Trew Real Estate in Fort Worth, TX. Statements and opinions are his and his alone. Seth has been involved with the home sales and real estate industry in the Fort Worth area since 2004. He and his family have lived in the area for over 15 years. Seth also loves bowties! You can reach Seth at: 817.980.6636 or firstname.lastname@example.org.
A new look at the prices sellers are asking for their homes is another sign of a shift in the North Texas housing market. Dallas-Fort Worth made it onto a list of 10 major cities that are seeing declines or just tiny increases in the asking prices for houses up for sale.
Researchers at property market firm Trulia compared major home market to see where list prices for homes were rising and where they were falling. All four of Texas' major home markets made the ranks of places where home value increases are stalling. That's obviously nowhere near the double-digit percentage annual home price gains North Texas recently saw. Trulia estimates that the median price of homes up for sale in D-FW was $356,999 in March. In March, homes listed for sale in North Texas traded for 98 percent of what they were listed for, according to local real estate data. Trulia's report that D-FW sellers aren't jacking up their asking prices as quickly this year is another indication that the home market dynamic is changing in the area.
The D-FW area added more than 100,000 jobs in the year ended in March, according to preliminary figures from the Bureau of Labor Statistics. So far in 2018, D-FW has stayed near the top of the list of U.S. cities with the fastest-growing employment sectors. Job gains in North Texas have topped 100,000 a year for more than four years — an unprecedented economic boom. As long as companies keep bringing so many new jobs to the area, the real estate market will continue to thrive. Add to the jobs, the surge in population growth. Last year, D-FW grew by more than 146,000 people — more than any other major U.S. metro market. More than half of that population gain was from people moving to the area to fill all those newly created jobs.
- Dallas Morning News, May 4, 2018
The Dallas-Fort Worth area led the state in first-quarter home sales. Local real estate agents sold more than 20,000 homes in the area, according to a new report by the Texas Association of Realtors. It was more than a fourth of the total 70,292 Texas homes sold in the first three months of 2018. The Houston area was a close second with 17,652 sales. While D-FW hung onto its lead in Texas sales, the number of home purchases increased from first-quarter 2017 by less than 1 percent. D-FW's housing market shows signs of cooling from several years of rapid increases. D-FW median home sales prices in the first quarter were at an all-time high of just under $260,000, according to the Texas Association of Realtors.
Get ready, get set, and mark your calendars for May 19. That's the day Relay for Life is coming to Dallas to help raise funds and awareness for the American Cancer Society. We hope to see you there! Our REALTORS® work and live in Dallas and believe in giving back to their local communities.
We are excited to welcome the next—and most assuredly not the last—Relay for Life event to our local community in Dallas. The opening ceremony kicks off at 5:30 PM on May 19, followed by the Survivor Walk, which honors the strength and courage of those who have been diagnosed with cancer. Whether your diagnosis was 10 years ago or 10 days ago, anyone who is a survivor or currently affected by cancer is invited to walk. The Caregiver Walk follows the Survivor Walk, giving recognition to those who have helped support their loved ones through cancer treatment.
Visit the official website of this Relay for Life event to learn more about donating, participating, or sponsoring a participant. Every dollar helps, and you'll be among a distinguished list of sponsors and participants.
Since its beginnings in 1985, Relay for Life has been one of the world's great ongoing community fundraising events for the American Cancer Society. More than 3,500 Relay for Life events take place across the United States every year, supporting and celebrating cancer survivors and caregivers, as well as raising money for cancer research. Participating in one of these events makes you a vital part of the American Cancer Society—one of more than 3.5 million survivors, patients, advocates, volunteers, caregivers and researchers who have donated their time, energy and money to beat cancer.
This event takes place at Main Street Garden Park in Downtown Dallas, a beautiful green space that serves as a central hub for many community events. Nestled between Main Street, Commerce Street, Harwood Street, and St. Paul Street, the park is a central gathering place where you're as likely to see visiting tourists as you are residents and employees of local businesses on lunch breaks. With free WiFi, a beautiful green lawn, fountains, dog run, toddler play area, local art installations and an on-site cafe, it's the perfect place to meet up for Relay for Life on May 19.
Easter is on its way in the Dallas area—to be fair, it's also on its way everywhere else—and chances are, you're looking for a good place to do some holiday dining. So whether you're looking for a cozy Easter brunch spot or an Easter dinner restaurant for the whole family, our REALTORS® in Dallas have a few solid recommendations.
At RE/MAX DFW Associates, we make it our mission to help you find your dream home in the Dallas/Fort Worth area. Contact our Dallas office today to learn more about homes in Dallas that are close to the city's best restaurants.