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Elsy Camacho
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Articles Tagged "Lewisville TX"

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August
23

Dallas-Fort Worth Only U.S. Market Where Home Sale Prices Dropped Last Month

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."

  • Dallas Business Journal, August 19, 2022
January
3

Food Trends for 2022: DFW Places to Order Them

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

  • Inihaw Avenue - 4835 N. O'Connor Rd., Suite 106, Irving, TX 75062
    Inihaw Avenue
    takes its name from the Filipino term for grilling and barbecue, which is a cooking method near and dear to the hearts of people around Irving homes for sale. Signature dishes, such as grilled lemongrass chicken and crispy pork belly with shrimp paste, are cooked to order for maximum flavor and freshness. Save room for halo halo, the traditional Filipino dessert with crushed ice, fruit, flan, and ice cream. Hours are 11 a.m. - 7 p.m. Monday through Thursday and 11 a.m. - 8 p.m. Friday and Saturday.

  • Kabayan Filipino Store & Cafe - 2305 S. State Hwy. 121, Lewisville, TX 75067
    Perhaps anticipating the interest in Filipino cuisine around Lewisville homes for sale, the Villaneuvas opened Kabayan Filipino Store & Cafe just over five years ago. The popular spot includes a cafeteria-style dining area, along with a market where you can pick up Filipino packaged food, frozen dishes, and meats by the pound to enjoy at home. Weekends feature karaoke and live music. Kabayan is open 10 a.m. - 7 p.m. Tuesday through Saturday and 10 a.m. - 3 p.m. Sunday.

  • Doc Popcorn - Dallas Farmers Market, 920 S. Harwood St. #179, Dallas, TX 75201
    Healthy popcorn? Yes, it's possible. Doc Popcorn is made with non-GMO kernels and popped with 100 percent pure corn oil. Everything is natural, with no artificial coloring, flavors, or sweeteners. Choose from sweet or savory flavors such as pizza, caramel apple, and cookies 'n' cream. Can't decide? Go for a combo like the Denver mix, with triple white cheddar and caramel bliss. Hours are 11 a.m. - 7 p.m. daily except Wednesday and Friday when hours are extended to 8 p.m.

  • The Poppin Shop - 900 S. Main St. #335, Keller, TX 76248
    You might think that 30+ flavors of gourmet popcorn would be enough to satisfy anyone's snack craving. But The Poppin Shop, located just minutes from Keller homes for sale, ups the ante with a wide assortment of fudge and candy to indulge your sweet tooth. Popcorn sizes run from the single-serving goodie bag to the 20-gallon bag that holds 100 servings. The shop also offers a variety of colorful tins, from one gallon to 6.5 gallons, for convenient gift-giving. Hours are 11 a.m. - 6 p.m. weekdays, 10 a.m. - 5 p.m. Saturday, and 10 a.m. - 4 p.m. Sunday.

  • Starship Deliveries - University of Texas at Dallas, 800 W. Campbell Rd., Richardson, TX 75080
    If your family has a student at UT Dallas, right down the street from Richardson homes for sale, chances are they've had coffee or sandwiches delivered by a robot. Starship Deliveries has a "staff" of 30 robots that travel 4 MPH and carry up to 20 pounds. Orders are placed through the service's mobile app, which accepts payment by credit or debit cards. Vendors currently participating include Papa John's, Panda Express, and Einstein Bros. Bagels. 

We may like food, but we love Dallas homes for sale even more. Whether you're buying or selling, contact us at RE/MAX DFW Associates to learn more.

July
12

5 Ways to Upgrade Your Kitchen

Dallas Kitchen Upgrades

Love to cook? If so, you may be looking for a dream kitchen among Fort Worth homes for sale. You probably have some good ideas about what you want in a kitchen, but our real estate agents have some insightful advice that might make you reconsider what you're looking for. For instance, many homeowners think large when it comes to kitchen space, but experts say it's more important for your kitchen to be organized than to be expansive.

Make the most of your kitchen with these upgrades.

  1. Create a Good Workflow
    Gathering guests in the kitchen while you cook is a definite trend, but you want to arrange things so your guests can enjoy visiting and not be in the way. Place them nearby where they can enjoy a drink or some snacks, but not where you have to work around them. Plan for your cooktop to be out of the flow of traffic; take that a step further and locate the trash or the bar away from the cooking flow so you don't have to dance around obstructions. By the same token, you want essentials nearby, such as the refrigerator, pots and pans, most favored utensils, and cooking ingredients.

  2. Invest in Good Counters
    You want good quality counters, but that doesn't mean you need to invest in the most expensive materials. For instance, granite is popular, but it requires considerable upkeep and can scratch easily. Another popular material is soapstone, which is soft and can be scratched, but it's not delicate. It also ages nicely and can stand high heat. Compressed recycled quartz is a popular choice that stands up to wear and comes in several choices.

  3. Go for Quality Cookware
    Forget those 20-piece cookware sets. Rather, buy piece by piece and only buy what you need. For instance, you're likely going to use a frying pan or skillet more than, say, a saucier, so do invest in one that's of good quality. But investing in an inexpensive non-stick skillet for daily egg cooking isn't a bad idea. You can save the quality piece for the gourmet dishes, and just let the non-stick go when it wears out.  

    A cast-iron skillet is one way to acquire a quality piece that doesn't cost much. These last forever. You might also want to invest in a fully clad pot, which means it's composed of three layers of bonded metal. These pots are known for even transmittal of heat, which translates to nice browning instead of hot spots.

  4. Think Bold
    While white kitchens with a bold pop of color or two have prevailed over recent years, the trend may be shifting to more adventurous colors. For instance, bright blue cabinetry might call to you, as might a green marble countertop or a backsplash that makes an eye-catching statement. If you know you're staying in your current home, choose the colors that appeal most to you.

  5. Consider Sustainability 
    The throw-away syndrome is something we all need to lose, and no better place to start than in your kitchen upgrade. As you look to redo your kitchen, shop for quality, artisanal, sustainably made items that will last a lifetime. For example, consider adding quality food storage solutions to get rid of plastic wrap usage.

Still looking for a home complete with the perfect kitchen for all your culinary adventures? Our agents can help. Contact us today.

March
15

What You Need to Know Before Starting a Home Improvement Project

Home Improvement DFW

Renovating or updating your home is an exciting prospect. Whether you plan on living there a while longer or are fixing it up to sell soon, doing much-needed updates can be satisfying. Before you get too carried away, though, here are a few words of caution from our real estate agents.

  1. Choose your contractor carefully.
    Remember that a lot rides on your choice of contractor. This person will oversee your project, so it needs to be someone who is on board with your vision. It also should be someone who is good at what they do, so check online reviews. It's a good rule of thumb to interview several contractors and look for someone who will be a good fit for your project, understands your budget, and will be able to deliver as promised and on time.

  2. Expect the unexpected.
    That being said, always expect the unexpected, and build a little wiggle room into your budget and your timeline. You don't know what your contractor and his crew will find once they start work. The original plan may need to be changed or some issue could require attention before the work can continue. If you build a little extra into your overall plan, changes in cost or time frame won't hurt as much.

  3. Do the kitchen first.
    There are several reasons why you should do the kitchen first. First of all, it's likely to inconvenience you the most, since you won't have a kitchen to cook in. You can set up a temporary kitchen station in another room, where you can do simple food prep. But more importantly, kitchen updates have the biggest impact on your home's value. Dallas homes for sale that feature clean, modern kitchens show and sell the best. Plus, those updates feature the most functionality, so you'll likely enjoy them the most during whatever time you have left in the house.

  4. Be honest with yourself before DIYing.
    It can be tempting to save yourself the money and do the work yourself, but be honest with yourself as to whether you have the required knowledge, experience, and skill to DIY it. If you overestimate your ability to DIY your upgrades, you'll detract from your home's appeal and leave the buyer to clean up the mess. Be honest with yourself, and if you don't know enough to make the job look professional, then leave it to the professionals.

  5. Know whether you're selling or staying. 
    If you're designing updates to enjoy while you live in the home, your goals are going to be different than if you're updating a home in order to join the list of Fort Worth homes for sale. Renovations for yourself will of course be targeted to your personal preferences, whereas renovations prior to selling need to be more neutral so that they'll appeal to a wide range of potential buyers.

If you're looking to sell your home soon, home improvement projects are a great way to boost its appeal to buyers. For more information about what upgrades sell the best, or to speak to an agent, contact us today.

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 12/06/2022. The listing information on this page last changed on 12/06/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NTREIS (last updated Tue 12/06/2022 6:29:48 PM EST) or Permian Basin MLS (last updated Mon 11/21/2022 7:45:23 AM EST). Real estate listings held by brokerage firms other than RE/MAX DFW Associates may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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