Thursday, August 19, 2021

What's ahead for Texas real estate in 2021-22?

The primary question agents get asked, naturally, "How's the market?"

The experts at the Texas A&M Real Estate Center say that we Texans can expect interest rates to rise and things to remain about the same. Some improvement in inventory of homes for sale should improve as listings have reached a low and are rising. I hope this will ease some of the price pressures. 

Texas homebuilders can't get all the lumber, labor, appliances, and other construction materials, which is driving up prices and costs yet, home construction should maintain strong positive growth in 2021-2022. 

Maybe the foreclosure market will offer some relief to pressure and price.  Federal forbearance ends in the fall of 2021.  The housing market could absorb the foreclosed homes and also those homes could be sold with a gain even before they enter foreclosure.  We'll see.

https://www.recenter.tamu.edu/news/newstalk-texas/?Item=26340

Tuesday, July 6, 2021

The Entire Housing Market is Crazy... even Mobile Homes!

COLLEGE STATION – Production of manufactured homes accelerated in June according to the latest Texas Manufactured Housing Survey (TMHS), contributing to increased business activity. Plant activity chipped away at backlogs that bottled up over the past year amid moderating sales volume.



'Backlogs started to ease for some manufacturers in June, but time will tell if that trend persists through July," said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association (TMHA). "Production days are reduced by Independence Day, and the summer sales season continues on retail lots."

Manufacturers expanded payrolls to boost activity, but hiring was hindered by on-going labor-supply challenges that drove wages and incentives upward. Survey respondents expect labor-market conditions to improve over the next six months.

In addition to hiring wages and salaries, rising prices for raw materials continued to drive up the cost of production. The TMHS corroborated inflationary pressures, but the rate of price increases slowed slightly.

"Manufacturers are experiencing some relief in lumber prices after a 40 percent decline in June," according to Dr. Harold Hunt, research economist at the Texas Real Estate Research Center at Texas A&M University. "Lumber prices, however, are still almost twice as high as they were last year."

Supply-chain disruptions continued to hinder operations and contributed to higher prices.

"Shortages in many other building components, especially those involving the use of chemical resins such as siding and shingles, are negatively impacting the construction process," said Hunt.

These challenges weighed on industry optimism, but the outlook for Texas’ manufactured housing industry remains favorable for the rest of the year.


 (https://www.recenter.tamu.edu/news/newstalk-texas/?Item=26153)



Tuesday, March 30, 2021

Got Tomatoes?

What do tomatoes have to do with buying or selling your home??  Well, that's an easy one.  See, if you hire JTOden Realty to personally assist & represent you in your real estate ventures, you enjoy the FRUIT of a wise and happy decision.  

If you hire some other licensee, you'll be 
using those tomatoes as rotten projectiles.  
This is fact, friends!



Friday, March 13, 2020

Happy, Happy, Happy in Plano!

https://upload.wikimedia.org/wikipedia/commons/thumb/d/de/WaterTower-Plano-7600.jpg/1200px-WaterTower-Plano-7600.jpgWell!  Plano has ranked second on WalletHub's list of America's happiest cities in 2020.

The Collin County city ranked fifth in lowest separation and divorce rate, sixth in emotional and physical well-being, ninth in income and employment, and 16th in community and environment.

Austin ranked 22nd overall, the only other Texas city in the top 25. The Texas capital ranked fifth in highest income growth, sixth in income and employment, 12th in emotional and physical well-being, and 118th in community and environment. 

 
Laredo had the lowest suicide rate nationally.

Fremont, Calif., took the top spot in the overall rankings. The rest of the top five were San Jose, Calf.; Irvine, Calf.; and Madison, Wis.

Last year, Plano was first on WalletHub's list. 



Friday, February 21, 2020

Allen City Council Greenlights an 80-acre Development!


Dallas Morning News Editor, Steve Brown writes that the city council has approved The Avenue, an 80-acre mixed-use development at the southwest corner of SH 121 and Alma Rd.




The development, previously known as Allen Sports Village, will include: 
  • one million sf of office space,
  • 65 single-family homes,​
  • 1,600 urban residential units,
  • three hotels, and 
  • 275,000 sf of retail and restaurant space.

File:Flag of Allen, Texas.png - Wikimedia CommonsMany of the shops and dining venues will be built in old shipping containers. A food hall and a central outdoor plaza with water features will be included.

Developer Thakkar originally proposed building a $500 million sports complex with a cricket stadium, but the deal was canceled after neighborhood opposition and the departure of a key player.

Thursday, September 19, 2019

Tuesday, March 19, 2019

Lubbock still a seller's market


I've been posting and everyone has been talking about the Dallas area real estate market.  Specifically, the NE Dallas metroplex area seems to have a balanced (flat) market recently.  Well, it's not necessarily state-wide.  The Lubbock Avalanche-Journal reports that local home sales slowed but the median price increased in February, according to data from the Real Estate Center and the Lubbock Association of Realtors.

Home sales were down 5 percent from February 2018 with 280 homes sold. The median price increased 13 percent to $182,500.  The number of active listings grew 7 percent over the year at 1,024 listings.  Monthly housing inventory decreased from 2.9 months to 2.7 months in the same period. The TAMU Real Estate Center considers a six- to 6.5-month inventory a balanced market.

Homes in Lubbock spent an average of 87 days on the market. ​ For more on the Lubbock housing market, read the Center's latest housing report​​.​

Wednesday, March 13, 2019

Feeling Rich yet?



Well of course not.

But we are officially still in the black, employment-wise.  The soothsayers at the Federal Reserve Bank of Dallas adumbrate a modest growth in job-having.  The Texas Employment Forecast suggests jobs will grow 1.5 percent this year.  So, yeah.

Here's a cool chart they made for the occasion...

https://www.dallasfed.org/-/media/Images/research/forecast/2019/emp190308c1.png














https://www.dallasfed.org/research/forecast/2019/emp190308.aspx

UPDATE:

Texas unemployment holds, 17,700 jobs added in February

 

AUSTIN (Texas Workforce Commission) – February marked the 106th consecutive month of annual nonfarm employment growth as 17,700 seasonally adjusted positions were created, according to the Texas Workforce Commission. ​

Texas' seasonally adjusted unemployment rate held at 3.8 percent.  The Texas metro with the lowest nonseasonally adjusted unemployment rate was Midland at 2.2 percent. McAllen-Edinburg-Mission had the highest at 6.6 percent.

The mining and logging industry saw the most seasonally adjusted growth in employment from February 2018 to February ​2019, growing 8.4 ​percent. The information industry was the only sector to see a drop in employment, falling 1.5 percent. 



Monday, March 4, 2019

WSJ says the Boom is Over (this is not new news to us)



Yup.

Local REALTORS have been saying it for months now; the market is even.  That means no more ever soaring prices.  Yes, Mr. Seller, that means you need to conservatively price your home to sell it.  To get an offer.  And the offer you get, you better not blow it off because it is too low.

And you non-Native Texans?  You can't low-ball Texans.  It is frowned upon.  Also, this isn't a low-ball market.  Not by a long shot.  Listen friends, it is a FLAT market, or perhaps you'd prefer "even?"  It's an even market: as much in the seller's favor as the buyer's
No overpricing.
No low-balling.

Even.
Fair.
Flat.

Even.


https://www.wsj.com/articles/the-u-s-housing-boom-is-coming-to-an-end-starting-in-dallas-1543248073?mod=e2fb


Tuesday, December 18, 2018

Merry Christmas!!!!



Visual History of Christmas Traditions Infographic by Balsam Hill

Christmas is celebrated in a multitude of rich and cherished traditions. This illustrated timeline, brought to you by Balsam Hill Christmas Tree Company, captures the flow of some of the most popular Christmas traditions and figures throughout Christmas History.

Wednesday, December 12, 2018

Help Wanted

Hey you loan officer that always email me, spam me, call me.... UGGH!  You can't have my buyers/borrowers because they are going to Supreme Lending and my trusted lender, Joe Boggs.  However, you CAN go to work at Joe's office!



https://joeboggs.supremelendinglo.com/

Tuesday, July 31, 2018

Movin' on UP ...way up NORTH!


Texas Real Estate Developers and Global Alternative Investment Firm Värde Partners Acquire Windsong Ranch in Prosper, Texas



​​​​Carey Marin at BusinessWire writes that Tellus Group, a joint venture of Vä​​rde Partners and developers Craig Martin and David Blom, has purchased the Windsong Ranch from the Terra Verde Group. 

The 2,030-acre master-planned​ community is at 1001 Windsong Pkwy. S. At full build-out, the community will have 3,100 single-family homes, 600 acres of open green space, and 150 acres of mixed-use development. 

It will be the first North Texas development to offer​ a Crystal Lagoon (I bet the folks in Rowlett are pretty jealous). The five-acre lagoon will open in spring 2019.

Homes will be priced from the $200,000s to over $1 million. Builders include American Legend Homes, Belclaire Homes, Britton Homes, Chesmar Homes, Darling Homes, Drees Custom Homes, Grenadier Homes, Highland Homes, Huntington Homes, and MainVue Homes.