Dallas-Area Home Appreciation in 2015 to be Twice the National Average

Dallas-Area Home Prices Reach Record

Prices of preowned homes in the Dallas area were up 7.4 percent in the latest Standard & Poor’s/Case-Shiller Home Price Index.  The gain in September from a year ago was the fourth highest in the country – significantly ahead of the 4.9 percent nationwide increase.  Home price increases nationwide have slowed in recent months, but in the Dallas area, the year-over-year price increases have remained steady.  Charlotte, North Carolina and Dallas continue to have price increases considerably above the national average.   Dallas-area home prices are now 12 percent higher than they were before the recession and at record level in the Case-Shiller index.

  • Dallas Morning News, November 26, 2014

 

Dallas-Area Home Appreciation in 2015 to be Twice the National Average

Get ready for 2015!  “I expect the appreciation to stay in the high single digits,” said David brown in the Dallas office of housing analyst Metrostudy Inc.   “Our forecast is for homes to appreciate in the 7 percent to 8 percent range in 2015.”  “This is still about double the long-term average rate of increase.”  It is also about double what is expected around the country.

  • Dallas Morning News, November 26, 2014

prosper the name says it all

Prosper: The Name Says it All

Prosper got its start as a railway whistle-stop is on the verge of a building boom that will forever change the once rural community.  Homebuilders are plowing up thousands of acres of former farmland to create housing to serve growing employment centers to the south in Frisco and West Plano.   And on the south edge of Prosper along U.S. Highway 380, surveyors are laying out sites for new shopping centers, office buildings and medical complexes.

 

“It’s been a whirlwind summer,” said Robert Winningham, who heads the Prosper Economic Development Corp. “We have 15,000 residents and are getting ready to double to 30,000.  We will hit close to 500 new homes this year,” Winningham said.

With Frisco’s neighborhoods quickly filling up with new homeowners, Prosper is next in line to benefit from North Texas’ need for more housing. It’s already the second-fastest-growing community in the Dallas-Fort Worth area, according to recent census reports.  The town couldn’t be in a better location, straddling Preston Road and the route of the Dallas North Tollway.  Prosper stretches about 9 miles east to west and 3 miles north from U.S. 380 to the Celina city limits.  “We’re like a big net catching everything that comes up from Frisco,” said Winningham, who came to Prosper about two years ago after a stint as Allen’s top economic officer. “As Frisco fills up along the tollway, that leaves us next.”

 

Two major residential projects in the works in Prosper will eventually add more than 15,000 residents.  The 2,000-acre Windsong Ranch community on the west side of Prosper opened this summer and has seen sales of dozens of new houses. The development by Terra Verde Group will eventually have about 3,000 homes.

  • Dallas Morning News, November 21, 2014

DFW Area on Track for 2015

new construction

DFW Area on Track for Increased Homebuilding in 2015

The Dallas-Fort Worth area should be the second busiest homebuilding market in the country in 2015, according to a new forecast.  MetroStudy Inc predicts that only Houston will have more single-family home starts next year in a comparison of the country’s top building markets.  D-FW home starts are forecast to top 28,000 units next year, compared with the Houston area’s more than 37,000 starts.

“Most of the other starts leaders in 2015 will be markets where builders can secure the raw material—labor, land, and materials—to start new projects,” MetroStudy reports. “Builders in Dallas are pushing their capacity as well, as they assemble more lots and struggle to find enough skilled workers to keep up with demand.”

  • Dallas Morning News, November 10, 2014

Texas the Best State for Future Job Growth, Forbes says

Texas is the top state for its current economic climate and future job growth in Forbes’ annual Best States for Business study released this week.  Texas has added 2.1 million jobs since 2000, more than twice as many as any other state, Forbes reports. Moody’s Analytics expects Texas to have an annual job growth rate of 2.7 percent over the next five years — the fastest in the nation — ranking it No. 1 on Forbes’ “Best States for Job Growth” list.  Naturally, Forbes cites Texas’ pro-business environment and the energy industry for its impressive job growth.  “Texas has done well primarily because it is an energy center. You really can’t get around that,” Edward Friedman, an economist who tracks Texas for Moody’s Analytics, told Forbes. “Every major energy and oil company has realized over the last 15 years that the only place to be is Houston.”   Outside of Houston, Forbes cites Toyota Motor Corp.’s (NYSE: TM) new campus in Plano, Charles Schwab Corp. (NYSE: SCHW) moving jobs to Austin and El Paso, and Apple Inc.’s (Nasdaq: AAPL) expansion in Austin as other examples of the massive business investments in Texas.  In addition to Texas’ impressive job growth, it also is expected to have the second-fastest economic growth rate over the next five years: 4.1 percent annually.  However, the education rate of Texas’ workforce hurts it in the overall ranking. It has the second-lowest percentage of adults with a high school degree: 82 percent.

  • Forbes, November 14, 2014

 


Nebraska Furniture Mart “Grandscape” – Restaurants/Hotels

Nebraska Furniture Mart

Nebraska Furniture Mart Inc. officially has made its foray into the development world, signing hotels and restaurants to its $1.5 billion, 433-acre Grandscape project — even as it stocks shelves with furniture, appliances and electronics.  This is the first time the 77-year-old Omaha, Nebraska-based furniture retailer has developed its 1.9 million-square-foot furniture showroom and distribution center as well as the entire “entertainment destination” surrounding the furniture store at the southeast corner of the Sam Rayburn Tollway and Plano Parkway in The Colony.  “We had a chance to be thoughtful in how we recruited tenants for that area and how we will continue to recruit tenants,” Jeff Lind, chief strategy and development officer with Nebraska Furniture Mart and president of Grandscape told the Dallas Business JournalLind and other city officials held a press conference on Tuesday to announce the new retail tenants of Grandscape, which include Hampton Inn & Suites, Homewood Suites, Cheddar’s Casual Cafe, Hard Eight BBQ, Mi Cocina and Rock & Brews.  The Nebraska Furniture Mart is expected to be one of the largest grossing retail stores on the planet, which is why the developer is being particular when selecting tenants for Grandscape.  Construction is underway on the infrastructure that will support Grandscape’s new tenants. Cheddar’s and Rock & Brews plans to open in summer of 2015, with Hampton Inn, Hard Eight and Mi Cocina following in the fall. Homewood Suites plans to open in late 2016The Nebraska Furniture Mart showroom and distribution center is on pace to open in spring 2015.

  • Dallas Business Journal, October 28, 2014

FedEx Office Kicks Off New Headquarters at Legacy West

Fed Ex and Legacy West in Plano

 

Dallas-based development firm KDC kicked off its second major corporate campus Monday afternoon — the first double-header groundbreaking in company history, located at Sam Rayburn Tollway (121) and Legacy Pkwy.  “This is a huge consolidation of FedEx Office’s corporate offices,” Toby Grove, president of KDC, told the Dallas Business Journal.“Right now, they are located in several facilities and this will help them in creating a corporate culture.”  FedEx Office and KDC executives officially broke ground on the 21-acre corporate campus site, formerly owned by Plano-based retailer J.C. Penney Co.   FedEx Office’s corporate campus and Toyota’s corporate campus will have a lot in common. The two headquarters will feature a tie into the $2 billion Legacy West project, which will be an extension of the Shops at Legacy and the development to the east side of the Dallas North Tollway.  “The idea is to incorporate the corporate campuses into a cohesive development with retail and multi-family components,” Grove told me. “This will all be tied together in a walkable community. … It will be developed to the highest of standards.”

      –      Dallas Business Journal, July 21, 2014

 


Rosewood Property Co. Moving Forward with Massive Plano Project

Heritage Creekside Plano

A Dallas-based development firm Rosewood Property Co. is moving forward with construction a massive 156-acre mixed-use development near North Central Expressway and the President George Bush Turnpike in Plano, which will include a corporate campus.   The project, called Heritage Creekside, will include up to 1,300 apartment homes, several hundred townhomes and single-family homes, as well as retail space and a corporate campus totaling up to 2.5 million square feet of space. Construction is ready to get underway after the group received approval from the city’s planning and zoning commission on Monday.  The tract was acquired by the Hunt family more than 50 years ago. It is bisected by Pittman Creek and contains wooded areas, which will be integrated into the development.
Plans for the initial phase include the residential development and three restaurant sites on the east side of the property along Alma Road.

  • Dallas Business Journal, October 28, 2014

#1 Reason You Should Sell Now

mail

The price of any item (including residential real estate) is determined by ‘supply and demand’.  If the supply of an item is larger than the amount of people looking to purchase that item, the price will decrease.


With winter right around the corner, now may be the best time to get the best price. #KCM2014
Click To TweetPowered By CoSchedule


According to the National Association of Realtors (NAR), historically there is a natural decline in buyers looking to purchase a home (also known as foot traffic) as the winter months approach. Shown in the graph below: Foot Traffic to Decline in Winter Months | Keeping Current Matters NAR goes a step further to say that there is a direct correlation between “foot traffic” and “pending contracts/closed sales one to two months later”.

Bottom Line

The real estate market has done well to recover from the slow start we experienced due in part to the inclement weather at the beginning of 2014.  But with those winter months right around the corner, now may be the best time to get the best price.


Billionaire Says Real Estate is Best Investment Possible

untitled

Billionaire money manager John Paulson was interviewed at the Delivering Alpha Conference presented by CNBC and Institutional Investor. During his session he boldly stated:

“I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you’re the owner-occupier of.”

Who is John Paulson?

Paulson is the person who, back in 2005 & 2006, made a fortune betting that the subprime mortgage mess would cause the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell. What do others think of Paulson? According to Forbes, John Paulson is:

“A multibillionaire hedge fund operator and the investment genius.”

According to the Wall Street Journal, Paulson is:

“A hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were.”