Real Estate in North Texas

“What’s The GOOD News?”

Good News

The River Walk development in Flower Mound continues to attract future eateries including:  Torchy’s Tacos, Steel City Pops, Tokyo Joe’s, Parquet Sports Bar, Primo’s Tex Mex Grille, Sfuzzi and Blaze Pizza. Dee Lincoln, of Del Frisco’s fame, is also opening a 5,000-square-foot Dee Lincoln’s Steakhouse at the River Walk.  In addition, more than 2,700 trees (3- to 6-inch caliper) will be planted within the River Walk soon. Approximately 180 of them were saved during construction for replanting and 700 specimen and protected trees were able to be saved. Some of the tree species that will be planted include: red oak, live oak, Chinquapin oak, cedar elm, slippery elm, lacebark elm, and American elm.

StateFair

State Fair of Texas • September 25 – October 18

 The State Fair of Texas is coming soon!

 (Daily Schedule) Don’t miss out this year as the State Fair comes to Texas. With events from world championship rodeo, livestock shows, music on  stages, carnival rides and games, shopping and food. What’s your favorite part of the State Fair? Quick Poll

Employment is up at North Texas-based American Airlines and Southwest Airlines as both carriers outpaced their competitors in job growth, according to figures released 08/20/15.  Fort Worth-based American employed 59,905 full-time workers and 7,427 part-timers in the United States in June, for a total of 67,332, up 6.4% from a year ago. Southwest employment rose 4.9% to 46,808 full-timers and 1,674 part-timers, totaling 48,482 nationwide.   The job numbers for American Airlines would have made it the largest employer if the U.S. Department of Transportation’s Bureau of Transportation Statistics would have included the 35,339 that the agency still considers employees of US Airways. That airline and American have merged, creating a mega-airline with more passengers than any other in the world, but they have still been reporting job numbers separately.

Kubota Tractor Corp. will move the U.S. headquarters for its tractor and credit companies from Torrance, California, which already has given up headquarters for Toyota Motor Corp. and Farmer Brothers coffee, to Grapevine Texas.  Kubota Tractor will create more than 330 jobs in North Texas. The relocation is projected to inject $51 million in capital investment in Texas. The state of Texas extended a Texas Enterprise Fund grant offer of $3.8 million to Kubota.    The move is expected to occur in the next 18 months.  The new headquarters will occupy approximately 20 to 25 acres of 185 acres on the city’s last major land parcel, which was obtained from former Texas Rangers first baseman Rafael Palmeiro in 2013. The tract of land is north of Grapevine Mills and fronts SH 121, Grapevine Mills Parkway and Grapevine Mills Boulevard.

Construction is slated to get underway on Farmer Brothers Co.’s new $65 million, 500,000-square-foot headquarters building in Northlake, near I-35 and the Texas Motor Speedway, which will bring another California-based company to North Texas.  Farmer Brothers reports that the company’s corporate offices are moving the 28-acre corporate headquarters to better position the 103-year-old manufacturer, wholesaler and distributor of coffee, tea and other food items for the future.   The new North Texas location is expected to better serve the company’s supply chain and boost the company’s bottom line.  The cost of the building includes an estimated $40 million to construct the facility with another $25 million in business personal property, such as a roaster for its coffee products. Upon completion of the new corporate facility at the end of 2016, Farmer Brothers plans to hire to fill the majority of the company’s 350-job workforce.   

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What? …..more Major Companies are Coming to North Texas

10-27-14 Questions

Texas is booming with growth.  We see construction everywhere. With Toyota, Liberty Mutual and Fed Ex coming to North TX. Lots of jobs will be coming also.  Buyers are having a hard time finding homes now …but wait, its going to get even busier.  Growth is everywhere we turn, from large retail spaces, to major roadways, to huge companies moving to North Texas..growth is what we are seeing in our North Texas area.  If your looking for professionals in purchasing your home or selling one, we would be happy to meet with you, simply give us a call!

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Housing Inventory Slowly Disappearing

Housing Inventory Slowly Disappearing | Simplifying The Market

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) released their latest Existing Home Sales Report this week.

Inventory Levels & Demand

Amidst reporting on the fact that sales of existing homes rose 1.2% from January, and outpaced year-over-year figures for the fifth consecutive month, was the news that total unsold housing inventory is at 4.6-month supply.

This is down 0.5% from last February and remains below the 6 months that is needed for a historically normal market.

Consumer confidence is at the highest level in over a decade. Pair that with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers.

Buyer demand for housing remains twice as high as this time last year.

Prices Rising

February marked the 36th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $202,600 (up 7.5% from 2014).

So What Does This Mean?

The chart below shows the impact that inventory levels have on home prices.

The Impact of Inventory on Home Prices | Simplifying The Market

NAR’s Chief Economist, Lawrence Yun gave some insight into the correlation:

“Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices. Stronger price growth is a boon for homeowners looking to build additional equity, but it continues to be an obstacle for current buyers looking to close before (interest) rates rise.”

Bottom Line

If you are debating putting your home on the market this year, now may be the time. The amount of buyers ready and willing to make a purchase is at the highest level in years. Contact a local professional in your area to get the process started.

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#1 Reason to Sell Now

Clock of  rope

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If you are one of the many homeowners out there who are debating putting their home on the market in 2015, don’t miss out on the opportunity that currently exists. There will be significantly less competition in the winter months than in the spring.

According to the National Housing Survey released by Fannie Mae, 45% of homeowners “say mortgage rates will go up in the next 12 months.”

What Does This Mean?

Homeowners are unaware that interest rates are projected to go up by all four major reporting institutions – This is big news for move-up buyers reflecting the overall amount of housing inventory that will be on the market.

If existing homeowners believe that mortgage interest rates are not going to increase, then they won’t be inclined to make a move by putting their home up for sale, meaning less competition for sellers who list now.

Don’t Wait!

The study also revealed that:

“Those who say it is a good time to buy a house rose to 68%” & “the share of respondents who think it would be difficult to get a home mortgage today decreased by 3 percentage points.”

As Doug Duncan, senior vice president and chief economist at Fannie Mae explains:

“We expect consumer attitudes toward housing to improve as the pickup in the overall economy lifts employment and income prospects.“

Bottom Line

There are buyers out there who are ready to make a move. If your goal this year is to move up to your dream home, what are you waiting for?

All information deemed reliable but not guaranteed. The opinions expressed in this article are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed in this article as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Steve Harney, Inc. does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involved some degree of risk. Steve Harney, Inc. will not be liable for any loss or damage caused by your reliance on information contained in this article.

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THIS IS WHY YOU NEED A KELLER WILLIAMS DALLAS METRO NORTH AGENT ON YOUR SIDE! November LORE

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Homeowners’ Touch Decision

12-30-14 Tough-Decision Share Flyer

At the end of the year, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and take a closer look at each possibility:

Taking Your Home off the Market

In all probability, after putting your house on the market and seeing it not sell, you’re going to be upset. You may be thinking that no one in the marketplace thought the house was worthy of the sales price.

Because you are upset, you may start to rationalize that selling wasn’t that important after all and say,

“Well, we didn’t really want to sell the house anyway. This idea of making a move right now probably doesn’t make sense.”

Don’t rationalize your dreams away. Instead, consider the reasons you decided to sell in the first place. Ask your family this simple question:

“What made us originally put our home up for sale?” 

If that reason made sense a few months ago when you originally listed the house, chances are it still makes sense now. Don’t give up on what your family hoped to accomplish or on goals your family hoped to attain.

Just because the house didn’t sell during the last listing contract doesn’t mean the house will never sell or that it shouldn’t be sold.

Re-Listing with your Existing Agent

For whatever reason, your house did not sell. Perhaps you now realize how difficult selling a house is or that the listing price was too high, or perhaps you’re now acknowledging that you didn’t exactly listen to your agent’s advice.

If that is the case, you may want to give your existing agent a second chance. That’s a perfectly okay thing to do.

However, if your agent didn’t perform to the standard they promised when they listed your home you may want to either FSBO or try a different agent.

For Sale by Owner

You may now believe that listing your house with an agent is useless because your original agent didn’t accomplish the goal of selling the house. Trying to sell on your own this time may be alluring. You may think you will be in control and save on the commission.

But, is that true? Will you be able to negotiate each of the elements that make up a real estate transaction? Are you capable of putting together a comprehensive marketing plan? Do people who FSBO actually ‘net’ more money?

If you are thinking about FSBOing, take the time to first read: 5 Reasons You Shouldn’t For Sale by Owner.

List with a New Agent

After failing to sell your home, you may no longer trust your agent or what they say. However, don’t paint all real estate professionals with that same brush. Have you ever gotten a bad haircut before? Of course! Did you stop getting your hair cut or did you simply change hair stylists?

There is good and bad in every profession—good and bad hair stylists, agents, teachers, lawyers, doctors, police officers, etc. And just because there are good and bad in every line of work doesn’t mean you don’t call on others for the products and services you need. You still get your hair cut, see a doctor, talk to a lawyer, send your kids to school, etc.

You initially believed that using an agent made sense. It probably still does. Contact me and we can sit down and discuss the possibilities.