Dallas Area Residential Real Estate Report: October 2016

Monday, October 31, 2016

4 Real-Life Haunted Houses You Can Buy--If You Dare

Think you’ve got what it takes to put up with poltergeists year-round? Take your pick of these famously spooky homes for sale.

Susan G. Komen Dallas/Fort Worth 3-Day

Photo courtesy of Susan G. Komen Dallas/Fort Worth 3-Day

The Susan G. Komen 3-Day is a three day, 60 mile walk to raise funds for Komen's breast cancer research programs

Millennials like city homes but not the high prices

The often-painted image of millennials as wholesale rejecters of suburban living may not be the whole picture.

What Credit Score Do I Need to Buy a Home?

Buying a home may no longer be the American dream (now people just want to get out of debt someday), but it’s still a huge goal for many. But if you don’t have a good credit score, that dream might go up in flames.

Buying In 2017? 7 Steps You Must Take Now

Buying a Home in 2017? 7 Steps You Must Take Now

From organizing your finances to save money to finding a real estate agent and mortgage lender, there is plenty to keep you busy!

Friday, October 28, 2016

Will not be blogging this weekend

I'm will not be posting new blogs this weekend. Be back Monday morning. Next week I will finish up my September Residential Market Reports with reports on Carrollton/Farmers Branch, Garland, and Wylie along with other information and advice about real estate, events, and fun things to go in the Dallas area.
Have a good weekend!

Pending Sales Up

Pending home sale increases in the South and West offset declines in the Northeast and Midwest regions.

American Institute of Architects presents AIA Dallas Tour of Homes

Open to the public, this two-day event features self-guided tours through the finest residential architecture in Dallas

Why you won't find your dream home here

It's a popular trick on those reality house-hunting shows — the real estate agent asks the buyers to make a list of everything they want. Then the agent takes them to a home that fulfills the wish list — and then drops the hammer that the house is about a million dollars over the buyer's budget.

What was the 'right stuff' that drove employers Chase, Toyota, State Farm to the Dallas area?

When you come to Dallas, you cannot help but be impressed by the quality and caliber of the people here.

Thursday, October 27, 2016

Frisco, Texas Residential Sales Report for September

Just about flat!

Single-Family:

Sales were off by 1%. Big deal! The average sales price rose 8% while the median sales price jumped 14%. What drove the median up so much? Well, there were only 3 sales under $200,000. Pending sales creeped up a paltry 2%. The new listings increased 10% while the number of active listings rose 30%. This increased the months of inventory to a whopping 2.4 months. with 6 months considered a balanced supply, you cannot call this market anything but a Sellers Market.

Sales: 346
Average Sales Price: $421,894
Median Sales Price: $374,750
Pending Sales: 310
New Listings: 371
Active Listings: 768
Months of Inventory: 2.4

Information provided by The Real Estate Center at Texas A&M

Movie Night On The Bridge

Photo by Caren Mack

When the sun goes down, Continental Avenue Bridge becomes an outdoor movie theater with the beautiful downtown Dallas skyline as a backdrop.

Homeowner Happiness And How It Effects You

You're investing a lot of time and effort in your new home, so you want to make sure it's one that you will enjoy for years to come.

The Secret Database That Could Torpedo Your Mortgage

And if you're applying for a government-backed loan, there's no way to dodge it.

US new home sales unexpectedly rise in September

New home sales, which are derived from building permits, are volatile on a month-to-month basis and subject to large revisions.

Wednesday, October 26, 2016

McKinney, Texas Residential Sales Report for September

Sales were up!

Single-Family:

Sales climbed 11% in September compared to last year. The average sales price was up 10% while the median sales price rose 13%. If you are looking for a home under $200,000 you have 7 to chose from today. Pending Sales fell 1%. that's to small a number to tell us anything about next month. The number of new listings increased 5% and the active listings jumped up 30%. while this is a nice increase to see if you are a buyer, it only moved the months of inventory to 2.2 months. It's still a Sellers Market.

Sales: 262
Average Sales Price: $326,199
Median Sales Price: $295,000
Pending Sales: 209
New Listings: 245
Active Listings: 501
Months of Inventory: 2.2

Information provided by The REal Estate Center at Texas A&M

The Second Annual Swing Dance Concert at SMU Meadows - Meadows School of the Arts

“It Don’t Mean a Thing if It Ain’t Got That Swing”:

7 Ideas To Try For A Stylish Entry

http://www.housebeautiful.com

The best entry halls make a strong statement and set the style for what's to come

Your Fall Cleaning Checklist

Here are some ideas for sprucing up your space this fall.

Dallas-area in top five for nationwide home price gains

Supported by continued moderate economic growth, home prices extended recent gains

Tuesday, October 25, 2016

Allen Texas Residential Sales Report for September

Sales were off a little

Single-Family:

Sells fell a scant 2% in September as compared to a year ago. The average sales price climber 8% while the median sales price rose 4%. If you are looking for a home in Allen under $200,000, as of this writing you would have exactly 6 to chose from. Pending sales declined by 17% so its possible that the October sales numbers will be negative. The number of new listings jumped 46% and the active listings increased 34%. Unfortunately these increased only brought the months of inventory up to 2.1 months. Still well short of the 6 months that is typically considered a balanced supply/demand. It's a Sellers Market in Allen.

Sales: 130
Average Sales Price: $354,421
Median Sales Price: $295,000
Pending Sales: 103
New Listings: 166
Active Listings: 261
Months of Inventory: 2.1

Information provided by The Real Estate Center at Texas A&M

Movies in Main Street Garden

Moviegoers are welcome to bring picnic blankets, lawn chairs, and their favorite furry friends.

Housing Guru Ivy Zelman: 'Now' is the best time to buy a house -

It's the best time in the history of our country with mortgage rates that are below 4 percent that [renters] can actually lock in their fixed cost and create wealth for themselves

12 Home Repairs That Are Way Too Risky to Put Off

There are some home improvement projects that simply can't wait, lest you risk much bigger problems (and costly expenses) down the line.

Another Corporate Headquarters Moves to Dallas

International engineering and design firm Jacobs Engineering Group is moving its headquarters from California to downtown Dallas.

A Continuing Shortfall of Homes

The next housing “crisis” will be due to a collapse in supply.

Monday, October 24, 2016

UNDERRATED NORTH TEXAS TOWNS YOU NEED TO SPEND MORE TIME IN

Sometimes you're looking for a quick getaway, one that doesn’t keep you in the car so long that your bum goes numb. You've done Fort Worth; Austin is too far; so where do you go?

Leaf Control Made Easy

Here’s the best news you’ll read all day: You should never rake your fall leaves again

Del Frisco’s 5K benefiting CitySquare

Photo courtesy of Del Frisco's Restaurant Group

Benefits CitySquare, the social service organization that fights poverty through service, advocacy and friendship with 17 unique programs that address hunger, health, housing, and hope.

Busted: Common Problems in Older Homes -- Broken Down by Decade

Here's what to look for in an old home, depending on when it was built.

The CEO of one of the largest US homebuilders perfectly summed up the housing market

US real estate is so large and complex that it can sometimes be hard to get a good view of the health of the market

House party: Two factors have economists sold on a hot Dallas housing market in 2017

There is no metropolitan area in the country producing more jobs this year.

Sunday, October 23, 2016

5 Tips For Choosing The Right Neighborhood

While economic and lifestyle factors are critical, a lesser-known set of metrics can be equally helpful in identifying a home – and a community – that meets your family’s needs.

Looking to Buy? Do Your Homework and Get in Line

So you’re looking to buy a home sometime in the next two years? Well, you’d better start lining up. Because you, my friend, are very far from alone.

What is a Mortgage Pre-Approval? Get an Edge When Home Shopping

If you want to stand out from the sea of other home buyers in a competitive housing market, one surefire way to do that is to get pre-approved for a mortgage.

5 Compromises Worth Making When Buying a Home

Home buyers often start their search with a long list of must-haves … only to find they need to whittle it way down once they see what's within reach.

Saturday, October 22, 2016

How To Prep Your Kitchen For Resale

Here are eight ways to prep your kitchen for resale.

It's a seller's real-estate market, but who's selling?

Even though the U.S. has seen more than three years of a booming seller’s market for housing, there are plenty of Americans who are reluctant to sell their homes for a very simple reason:

7 Real Estate Pitfalls That Could Cost You A Sale

Selling a home has its typical challenges. Maybe the couple across the street just listed their house, which you know has an amazing kitchen (while yours is just slightly less so). Maybe values have started to drop a tad. Or maybe you're getting transferred and you have to sell - and find something new in your future city - in what seems like an impossibly short amount of time.

Friday, October 21, 2016

4 Common Home Buyer Oversights

Buyers on the hunt for the perfect home often overlook common issues that could cost them thousands of dollars and give them buyer's remorse later on.

Nasher Sculpture Center presents Sightings: Michael Dean Opening Day

Photo courtesy of Nasher Sculpture Center

Dean’s work explores themes of language, the act of writing, and the struggle to communicate in a variety of forms, including sculpture, photography, poetry, plays, publications, and performance.

Hiffhines Art Trails Richardson

In 1976 Huffhines Art Trails was created to provide local artists and craftsmen a venue to promote and sell their work. The show has grown since its humble beginnings to become one of the best arts and crafts shows in North Texas!

Dallas buyers are searching for low-price houses, but do they exist?

In Texas specifically, a high percentage of prospective homebuyers are searching for less expensive homes than current inventory allows.

Existing home sales rise more than forecast amid less competition among buyers

Unfortunately, there won't be much relief from new home construction, which continues to be grossly inadequate in relation to demand

Thursday, October 20, 2016

Lake Highlands/NE Dallas Residential Sales Report for September

Sales were down!

Single-Family:

Sales took a sharp drop of 20% in September. The average sales price continued to increase and was up 9% while the median sales price increased 10% as compared to this time last year. Pending sales did not do any better being down 20%. The number of new listings fell 18%. The active listings dropped 3%. The months of inventory now stands at 2.3 months. It's still a Seller's Market.

As of this writing, there are 7 homes in this area priced under $200,000. If you are a first time home-buyer and looking under $200,000 you really don't have much to choose from. You can see the entire inventory in about 2 and a half hours.

Sales: 48
Average Sales Price: $379,500
Median Sales Price: $379,000
Pending Sales: 56
New Listings: 80
Active Listings: 148
Months of Inventory: 2.3

Information provided by The Real Estate Center at Texas A&M

2016 Friscovania

Photo courtesy of Friscovania

The Count and Countess of Friscovania, also known as Mayor Maso and his wife Cindy, have designated Toyota Stadium a safe trick-or-treat zone for the day with trick-or-treating, along with face painting and a kid-friendly haunted carnival.

Prelude: A Preview of Aurora 2017 at the AT&T Performing Arts Center

Capturing the magic of AURORA, the more intimate PRELUDE: A Preview of AURORA 2017 will remind you of what you loved about AURORA’s past and ignite your anticipation for what’s to come next year.

Mortgage applications climb 0.6%; rising rates don't scare buyers

Plenty of things are scaring potential homebuyers today, but apparently interest rates aren't one of them.

How Much Mortgage Can I Get? Home Loan Math Made Simple

Of all the questions you may have when buying a home, one of the biggest that may stump you is this: How much mortgage can I get?

First-Time Millennial Buyers Poised to Revolutionize the Real Estate Market in 2017

You want a real estate revolution? We’ve got you covered: Next year, more than half of all homes will be bought by first-time home buyers,

Wednesday, October 19, 2016

Richardson Texas Residential Sales Report for September

It's a Seller's Market in Richardson

Single-Family:
Single family sales were down by 4% and the number of pending sales declined 17%. Richardson has one of the smallest supply of homes on the market in the area. The months of inventory stands at 1.1 months and because of this shortage buyers are having a very difficult time finding a home to purchase. The average sales price climbed 18% as did the median sales price. The number of new listings dropped 7% and the active listings declined 13%.
Just before writing this article, I checked with our MLS. There are 4 homes in Richardson on the market under $200,000. If you are a buyer in the under $200,000 price range, I suggest that you might be better off looking in another near by City such as Garland.

Sales: 109
Average Sales Price: $289,338
Median sales Price: $271,000
Pending Sales: 97
New Listings: 117
Active Listings: 111
Months of Inventory: 1.1

Information provided by The Real Estate Center at Texas A&M