Tuesday, August 20, 2013

FHA Extends Mortgage Insurance Offer

  HousingWire reports that the Federal Housing Administration (FHA) is offering mortgage insurance to those who fell on hard times during the recession.

Borrowers who filed for bankruptcy or lost their homes through a foreclosure or short-sale proceeding and can prove they are no longer financially compromised are eligible if they meet all other FHA requirements.

"Besides the burden of proof on the borrower to demonstrate a recovery from the 'economic event,' the potential homeowner must also complete housing counseling," reports HousingWire. "This event would need to result in a minimum loss of 20 percent of the household income."  Lenders also must verify that at least a year has passed since foreclosure and that the economic event was responsible

Tuesday, July 16, 2013

SOLD -- Allen Office Center

 
Gladstone REIT has purchased a fully leased 115,200-sf office property in this north Dallas suburb.
The two-story Allen Office Center was built in 1998. Among the tenants are Frontier Communications Corporation and Micron Technology.
CBRE arranged the transaction.

Tuesday, July 9, 2013

Billingsley Starts Two Office Buildings

 Steve Brown, Real Estate Editor for the Dallas Morning News reports that Billingsley Co. has begun work on two office buildings in Plano.  Construction is underway on a 180,000-sf building at 6111 W. Plano Pkwy. 
The building is slated to be completed next summer. ReachLocal Inc. will lease 100,000 sf as its headquarters. 
The company has also started the three-story, 180,000-sf speculative building at 8951 Cypress Waters Blvd. Expected to open mid-2014, the structure will be in Billingsley’s 1,000-acre Cypress Waters development.  Pritchard Associates Inc. is the construction manager for both buildings.

Tuesday, June 11, 2013

A Record-Breaking May!

Well, that was fun!  
The Dallas Morning News reports that May was a record-breaking month for the North Texas housing market.Seemed like that around here too.  DMN says that nearly 9,200 existing single-family homes were sold last month — the most ever in one month, according to Real Estate Center and North Texas Real Estate Information Systems data. Sales were up 23 percent from over a year ago.

The median price was $180,000, a record for the area and an 11 percent increase over last year.  Homes were on the market an average of 54 days, the shortest time in almost ten years.  New listings were up 8 percent, but the total number of houses for sale was down 22 percent from last year. Inventory was at 3.4 months.

So, what are you waiting for?

Tuesday, February 12, 2013

NORTH TEXAS HOME SALES START YEAR STRONG


The Dallas Morning News reports that area home sales started the year at a blistering pace.  Metroplex real estate agents sold 4,733 existing single-family homes last month, the largest January total since 2007 and the second-best selling January in a decade.  Along with the rapid rate of sales comes a dwindling inventory of listings that worries Real Estate Center Research Economist Dr. James Gaines.


With only a 3.4-month supply of existing homes on the market, “that inventory is getting to a critical level,” Gaines said. “That’s so low, it is going to put a strain on the market . . . that means the prices will start being bid up.”  The median price for single-family homes sold in January rose 9% compared with the same month last year. Sales prices for condominiums also jumped, 14%.

Tuesday, January 15, 2013

The Best Planned Communities are in Texas


...well Houston, but still, TEXAS!

According to the Robert Charles Lesser Company, nearly half of the country’s best-selling master-planned communities are here in the Lone Star State, and mostly in the Houston area.  According to the latest data from RCLCO, eight of the top 20 master-planned communities are around Houston. San Antonio is home to a ninth top community.

The Woodlands is Texas’ top planned community at number three, followed by Cinco Ranch (4), Riverstone (7) and San Antonio's Alamo Ranch (8). Rounding out the top 20 are Bridgeland (15), Sienna Plantation (16), Shadow Creek Ranch (17), Woodforest (19) and Telfair (20).

Nationally, the best-selling master-planned community is The Villages in Ocala, Florida.

I ...didn't see my HOA, Windy Hill Farms on the list.  Hmmm....

Thursday, November 15, 2012

Two ways to help Texas veterans become homeowners


Texas has several programs in place to help its veterans become homeowners … many of which can be used in addition to benefits from the U.S. Department of Veterans Affairs. 

I refer my clients to these resources from the Texas Association of REALTORS® and help them find out which programs they qualify for:

  • TXHomePrograms.org Buyers can search more than 100 housing-related programs in one place, including home improvement loans, housing assistance, and land loans through the Texas Veterans Land Board.
  • TexasRealEstate.com Read a thorough explanation of several home-ownership opportunities for Texas veterans, their eligibility requirements, and how they work in conjunction with federal programs.
Read more relevant news and information at the TAR member blog. Click "Follow this blog via email" in the right-hand column to receive notice when a new post or comment is added.

Thursday, September 20, 2012

Murphy Residents & Bulky Trash on October 18



Appliances that use Freon must have proof of its removal

MURPHY, Texas Residents with trash that is too large or bulky for the weekly collection have another opportunity to dispose of this material on Oct. 18 simply by putting it out on the curb, according to Customer Services Manager Candy McQuiston.

“Murphy’s contract with Waste Management includes two bulky trash pickups a year, and the next one is set for Thursday, October 18. Murphy folk need not call to schedule a pickup, but must have their items curbside by 7 a.m. on that day,” she said.

In addition to the early pickup time, the following points are important to remember:
·         All mowers and other motorized yard tools must have all gasoline and oil removed.
·         Any metal placed by the curb should be in pieces no longer than 6 feet.
·         Paint cans with wet paint are not accepted. However, cans with dry, solid paint are acceptable.
·         Appliances, including refrigerators, are accepted. However, appliances with Freon must have it removed by a licensed technician, and the receipt must be taped on the item, otherwise it will not be picked up.
·         Any item with a door must have it removed or securely locked to prevent children or animals from entering it.
·         Brush must be cut into 3- to-4-foot long pieces and no larger than 6 inches in diameter, bundled and tied. The pile should be 4 feet long or less, and 3 feet high or less. Brush should be separated from other trash since it goes to a separate facility.

Items such as concrete, dirt and soil, construction materials, hazardous waste, wet paint, tires and car batteries will not be picked up. Roofing and construction contractors are generally obligated to remove the waste generated by their work, including wooden fence contractors.

“Murphy residents (75094) should consider placing their bulky trash items on the curb on the night before the pickup. That way, there is no danger of missing the trucks, as the trucks will only make one pass through Murphy neighborhoods,” added McQuiston.

Friday, September 14, 2012

TWO PLANO SHOPPING CENTERS SOLD


Real Estate business Online(REBusinessOnline.com
reports that two area shopping centers have been sold in separate transactions.
Texas investor Bo Avery acquired the 123,011-sf Ruisseau Village shopping center at 3303 N. Central Expy. Retail Realty represented the buyer. C-III Realty represented the seller, Wells Fargo Bank.
Nearby, Metropolitan Capital Advisors picked up the 192,267-sf Pitman Corners Shopping Center at the corner of W. 15th St. and Custer Rd. The center is anchored by an Albertsons grocery store.

Tuesday, September 11, 2012

NORTH TEXAS HOME SALES CONTINUE CLIMB, INVENTORY SHRINKS


NT HOME SALES CONTINUE CLIMB, INVENTORY SHRINKS
DALLAS (Dallas Morning News) – Existing home sales in North Texas are up for the eighth straight month.
According to statistics from the Real Estate Center and the North Texas Real Estate Information Systems, North Texas had an 18 percent increase in pre-owned home sales for the month of August.
The 7,986 single-family home sales represent the largest number of single-month sales since before the recession.
Median sales prices also rose in August, up 8 percent over the same month last year.
Further, the 4.5-month supply of available homes in the area is the shortest inventory in over a decade.

Friday, April 20, 2012

Best Small Towns in America (Murphy, TX got skipped!)

This is neat...
 The fine folks at Smithsonian.com have picked the best small towns in America.  Murphy didn't make the list?  Oh well.  JTOden Realty sends congrats to the fine Texans in Marfa, who made the list.

Good grief, Key West, FL?  Laguna Beach, CA?  Not really fair competition.
http://www.smithsonianmag.com/travel/The-20-Best-Small-Towns-in-America.html


Tuesday, March 6, 2012

NUMBER OF UNDERWATER DALLAS HOMEOWNERS is UP

The Dallas Morning News) reports that By the end of 2011, about 93,000 Dallas-area homeowners were upside down on their mortgages.  They cite CoreLogic DATA for this statistic. This is up one-tenth of a percent from fourth quarter 2010, when the negative equity rate was 12.2%.

However, despite the increase, the negative equity share is better than in 2009, when nearly 30% of Dallas-area homes were not worth the remaining mortgage balance.  Compared to the rest of the country, Dallas is faring better. Nationally, over 22% of homes with a mortgage were in negative (-) equity by the end of 2011, or about 10.7 million properties.

Statewide, Texas has the tenth lowest negative equity rate, with 10.2% of homes valued less than their mortgages. At 61%, Nevada had the highest negative equity rate, followed by Arizona (48%) and Florida (44%).

Wednesday, January 25, 2012

Blast Off 2012 - what to expect in North Texas and Collin County in 2012

Today I am attending a CE program that will forecast economic, political, and legislative issues that will effect Collin County and the North Texas area this year.  I'll be active blogging throughout the event.  I'm sure the list of subscribers will likely overload a server somewhere in India...

8:30 -- Continental Breakfast
9:00 --Oh! Blueberry muffins and coffee, not bad.
9:12 --the MC is funny... Why do event persons think I want to see their computer desktop?

Mark Dotzour, Cheif economist TAMU Real Estate Center, with the economic outlook for 2012.

Home sales should be up 10% in 2012. However, that's improvement from a low position. The government snuck a sales tax (transaction fee) past us. All new houses now have a sales tax at the time of the transaction. Thanks congress. Stupidity. Congress did it to fund two months of payroll tax deductions! Fannie Mae and Freddie Mac has been the slush fund, the read headed step child, the slave, the scapegoat--the corner prostitute for republicans and democrats. If Fannie Mae and Freddie Mac finally die, intrest rates will rise.

Texas is going to double the national job growth whatever that is. But if double a lousy number (due to a crappy congress) may not be impressive. Release sing he US economy depends on four things. Corporate Profits are high but they are sitting on e cash. Our government is devaluing our dollar. Every economic indicator is positive for Texas the LID that's keeping us down is the Fed. The Dodd Frank mortgage laws will fine a lender for a failed mortgage. So lender underwriters are hammering buyers to approve them. THIS IS THE RESULT OF GOVERNMENT REGULATION AND MISMANAGEMENT--BAD POLICY!!!

Folks, there is no free lunch. The low intrest rates we get are artificially low because it helps get them votes. However, your savings account is worthless because theo interest rates are so low. You can't steal your interest rate and make a 12% return on your investments!

No one talks about second mortgages either. If the standard mortgage costs a bank 40% of the loan value. The second mortgage costs you 100% of the loan value! Foreclosing on gillions of dollars of thes mortgages would dissolve many banks. The government is artificially propping this up. It's like a man who is bleeding to death internally, but his doctor keeps advertising that he healthy because after all, you don't see any blood, right?

We are going to sell more houses in Texas this year.
Interest rates are going to stay low.
Home prices are going to stay flat in Texas.
Http://blog.recenter?tamu.edu/


Douglas e. Oldmixon, Admin. from TREC
Industry regulation inside info... Etc., etc...

Dan Kessler, Assistant Director of Transportation, North Central Texas Council of Governments

Population growth is rising in DFW and it is still on the rise. Collin county is even more positive. by 2035, Collin County is projected to grow to ten million persons! DFW is the 12th largest economy in the world! He forecasts the growth of the Regional Rail System. The A-Train allows the use of existing rail that was once for freight and other purposes.