Dallas Area Residential Real Estate Report: November 2016

Wednesday, November 30, 2016

Garland TX Residential Sales Report for October

Single-Family:

Sales fell 7% in Garland in October as compared to the same time last year. Buyers are having a very difficult time finding something to purchase due to the extreme shortage of homes on the market. The average sales price rose 5% while the median sales price climbed 14%. Pending sales were up 2%. The number of new listing increased 5% but the active listings dropped 26%. The months of inventory declined to 0.9 months. With 6 months normally considered a balanced market, you can readily see how much this market is tilted to the Sellers side and why Buyers are having such a difficult time.

Sales: 149
Average Sales Price: $182,251
Median Sales Price: $172,000
Pending Sales: 182
New Listings: 189
Active Listings: 164
Months of Inventory: 0.9

Information provided by The Real Estate Center

Nasher Sculpture Center presents Target First Saturdays

The events are designed especially for children in preschool to elementary school and feature a line-up of activities that encourage creative thought through a monthly “Big Idea.”

Dallas is about to have America's largest urban nature park - surprised?...

A number of nature-oriented projects still have to be completed before the pieces of the puzzle will fit together.

Higher interest rates crush mortgage application volume

The highest interest rates in well over a year are putting a dent in the mortgage business.

Just Listed! 800 Serenade, Richardson,TX

Check out the video of my new listings!

800 Serenade, Richardson

Tuesday, November 29, 2016

10 Storage Solutions For Pots And Pans

Photo by Cebula Design

Go ahead and steal these ideas to give your cookware a starring role in the kitchen even when the stove is off.

US home prices hit new peak in September

Tight supply and high demand push prices higher.

2016 Dallas Children's Health Holiday Parade

Children's Medical Center/Facebook

The season's most spectacular event will include marching bands, festive floats, and fun family activities to carry into the new year.

Carrollton/Farmers Branch Residential Sales Report for October

Single-Family:
Sales were up a nice 9% in October as compaired to October of last year. The average sales price increased 1% while the median sales price rose 10%. Sales continue the trend we have seam for a long time of being concentrated in the upper price ranges. Pending sales jumped up 27% so we can safely say the November will be a positive month. The number of new listings increased by 7% but with the large increase in pending sales the avtive listings declined 1%. The months of inventory now stands at 1.3 months. This is well short of the 6 months that is normally considered a balanced market.

Information provided by The Real Estate Center

An Introduction to the FHA 203(k) Loan

The FHA 203(k) loan lets you include the money needed for repairs and related expenses (materials and labor) in the loan.

Monday, November 28, 2016

The One Big Real Estate Trend You Need to Understand in 2017

Extreme housing market fragmentation is now creating different experiences for home buyers and sellers in a wide range of locations and segments.

The best holiday events in Dallas to make the most of the season

There is no shortage of events from which to choose, including theater, music, shopping, and more

Men Are Having More Say in Kitchen Designs

So how are men influencing kitchen design?

Fannie Mae, Freddie Mac Will Back Even Bigger Mortgages

The definition of a jumbo mortgage is changing for the first time in more than a decade.

Mortgage applications up 5.5%, as fear of rising rates triggers homebuying surge

A postelection spike in mortgage rates may have scared potential homebuyers enough to push them off the fence and into a contract before rates move even higher.

Sunday, November 27, 2016

Kitchen Renovations That Will Give You The Biggest Bang For Your Buck

The idea of redoing a kitchen, especially if it involves demolition and you don't know what surprises await behind the walls, can be scary. And whether you're approaching a renovation with enthusiasm or something more closely resembling abject terror, you still want to make sure you get the value out.

6 Smart Updates To Make To Your Bathroom

The idea of renovating your bathroom can be overwhelming, but you don't have to knock down walls or gut the whole thing to make it feel new again.

The Worst Home-Selling Advice People Actually Believe

You've made the monumental decision to sell your house. Congrats! Now brace yourself for the onslaught of "been there, done that, you must do this" advice.

The Best Tech Devices To Power Your Smart Home

Technology continues to make our lives easier, or at least more fun, and a new wave of products seeks to do both - and more

Saturday, November 26, 2016

How Much Home Can I Afford? Find That Magic Number Here

Long before you start asking yourself what type of house you want -- condo or house? Craftsman or Ranch style? -- you should ask yourself a more pragmatic question: How much home can I afford?

10 Things to Never, Ever Show When Staging Your Home

Certain items lying around your home can kill any potential for a sale.

What you need to know about a home equity line of credit

Since home buying has sputtered, banks are feverishly pushing home equity lines of credit (or HELOCs) to homeowners whose properties have regained much of the value they lost during the housing bust.

You sure you want the internet to solve your real estate problems?

I was reading user comments on a real estate website the other day. The questions buyers and sellers were asking reminded me that real estate transactions can get complicated in countless ways.

Friday, November 25, 2016

9 Welcome Mats That Tell Visitors How You Really Feel

You could do with a welcome mat—but not just any old welcome mat. You need one that truly expresses how you really feel about all those people pounding down your door

US new home sales unexpectedly fall in October

US new home sales unexpectedly fall in October -

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

12 rustic accents that make your house feel like home

Modern and contemporary spaces often make for beautiful pictures but can sometimes lack an inviting character that makes them feel like yours.

Wednesday, November 23, 2016

HAPPY THANKSGIVING!

The History of Thanksgiving

The Lucky Numbers That Can Drive Up Your Home’s Value

Got a lucky number? Like, a really lucky, Powerball-deciding, superstition-fueling, wedding date–determining number you evoke like an enchanted incantation?

What Is Interest? The Fee That Can Tack Thousands Onto Your Mortgage

You've probably overheard homeowners boast that they nabbed a "great interest rate" on their mortgage. But what is interest, exactly?

This massive Christmas celebration is unlike any other in North Texas

Twelve days of Christmas isn't nearly enough for Frisco Square, where the celebrating begins as soon as there are Thanksgiving leftovers.

Frisco TX Residential Sales Report for October

Frisco saw a sharp increase in sales

Single-Family:

Sales in Frisco jumped a whopping 26% in October as compared to the same time last year. The average sales price rose 11% while the median sales price climbed 9%. Frisco has one of the highest average sales prices in North Texas. Pending sales increased 9% so next months sales will probably be up. The number of new listings was flat, The active listings increased 29% and this caused the months of inventory to increase to 2.3 months. We're still well short of a 6 months balanced supply.

Sales: 345

Average Sales Price: $411,023

Median Sales Price: $355,000

Pending Sales: 310

New Listings: 344

Active Listings: 739

Months of Inventory: 2.3

Information provided by The Real Estate Center

Tuesday, November 22, 2016

7 Cheap Upgrades That Will Make Your Home Feel Like It’s Brand-New

If your home has you down in the dumps but you lack the cash to fix it up, don’t despair! Not every upgrade has to take a big bite out of your bank account.

Existing home sales hit nearly 10-year high

October’s strong sales gain was widespread throughout the country and can be attributed to the release of the unrealized pent-up demand that held back many would-be buyers over the summer because of tight supply,

2016 Texas Christkindl Market

Photo courtesy of Texas Christkindl Market

Now in its sixth year, the Texas Christkindl Market is one of the largest open-air holiday markets in the Southwest.

Mortgage Rates Have Spiked Post-Election, but They Remain Extremely Attractive

Mortgage rates may have risen, but that needn't deter prospective homebuyers

My 5 Favorite Pictures of Dallas, Texas | Andy's Travel Blog

Photo courtesy of Andy's Travel Bolg

ENJOY!

McKinney TX Residential Sales Report for October

Single-Family:

Sales were up 7% in October. The average sales price rose 9% while the median sales price climbed 12%.
Pending sales were off by 8% so we could see a negative sales number next month. Pending sales declined 5% but the active listings took a 23% jump up. This increase in the active listings caused the months of inventory to rise to 2 months. With 6 months normally considered a balanced supply, we are still very much in a Sellers Market.

Sales: 202
Average Sales Price: $330,034
Median Sales Price: $305,000
Pending Sales: 217
New Listings: 262
Active Listings: 472
Months of Inventory: 2

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

Monday, November 21, 2016

US housing starts soar 25.5% in October to 9-year high

The housing market is being driven by a tightening labor market, which is starting to drive up wages.

Prairie Lights 2016

Upon arriving at the entrance of Prairie Lights, you will be dazzled with 4 million lights set along two miles of path.

Dallas named best U.S. city for residential real estate investors

For the second year in a row, Dallas, Texas, was crowned the best market for investors, showing unleveraged returns of 20.7 percent.

Mortgage rates see biggest spike in over 3 years

Awesome? Be happy with it? That's a difficult message to hear if you're a first-time homebuyer or you never got a mortgage before 2010.

Allen TX Residential Sales Report for October

Single-Family:

Sales in Allen dropped 3% in October as compared to the same time last year. The average sales price increased 8% while the median sales price rose 11%. As in prior months priced continue to be pushed higher due to sales being concentrated in the upper price ranges. Pending sales fell 16%. buyers are having a hard time finding a home to purchase due to the low inventory. New listings declined 6% but the number of active listings jumped 24%. Unfortunately this increase in inventory only causes the months of inventory to increase to 1.8 months. 6 months is normally considered a balanced market so you can eaisly see that we are very much still in a Sellers Market in Allen.

Sales: 114
Average Sales Price: $356,789
Median Sales Price: $306,000
Pending Sales: 111
New Listings: 123
Active Listings: 230
Months of Inventory: 1.8

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