Fort Worth plans to sell flood-prone homes to developer after years of debate

In December, Groove Improvement LLC submitted the sole bid for the nine homes. Led by Fort Worth-based architect Darin Norman and businessman Chad Herman, the newly launched company offered $100,000 and agreed to meet the city’s requirements for redeveloping the properties.

From the moment Erin Schallhorn heard about the city of Fort Worth’s plans to build a stormwater detention pond near her Arlington Heights home, she could see her neighborhood’s future washing away.

Property values would decrease as homeowners moved out, driven away by the eyesore and potential safety risks of children drowning, mosquitoes breeding or homeless people camping in the area. There was also no guarantee that the pond would resolve flooding issues that have plagued parts of Arlington Heights for decades, Schallhorn said.

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Source: KERA News

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Texas ranks third among states with biggest housing price decreases in 2023

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Texas has the third cheapest house prices in 2023 with a price drop on average 0.42%, saving buyers around $1,241 per purchase.

A new study has revealed the states where house prices have decreased the most over the last year, signaling which states are looking better for home buyers, and which need to improve.

The research, conducted by real estate website New Jersey Real Estate Network, analyzed data from Zillow from January 2023 to December 2023 to determine which states had the highest and lowest percentage increase in the average house value.

The study comes at a time when prospective buyers are finding it harder to find good properties within their budgets, making the search to secure a home more intense than ever.

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Source: CW33

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6 new DFW neighborhoods rank among nation’s bestsellers, RCLCO says

Six neighborhoods in Dallas-Fort Worth ranked among the 50 top-selling master-planned communities in the nation last year.

Six neighborhoods in Dallas-Fort Worth ranked among the 50 top-selling master-planned communities in the nation last year.

That’s according to a report released Jan. 4 by RCLCO Real Estate Consulting, a Maryland-based firm known for its research on subdivisions and other real estate topics.
The listmakers are all located on the outskirts of DFW: No. 16 overall Silverado, No. 33 Windsong Ranch, No. 41 Painted Tree, No. 45 Pecan Square, No. 46 Union Park and No. 48 Harvest.

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Source: The Business journals

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DFW housing market heads into 2024 with hope for improvement

With the Federal Reserve signaling a halt to interest rate hikes, housing industry leaders are more optimistic about the year ahead.
Editor’s note: This story is part of our Mixed Signals: 2024 Economic Forecast for Texas, featuring stories about labor, inflation, housing, migration, rising utility costs and other factors propelling the North Texas economy.
Lower mortgage rates top the housing sector’s wish list for 2024.
The biggest interest rate run-up in more than two decades depressed home sales this year and slammed the brakes on house price increases in North Texas after years of huge gains.
With the Federal Reserve signaling a halt to interest rate hikes, housing industry leaders are more optimistic about the year ahead.

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Source: The Dallas Morning News

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What $3 million will buy you in Dallas real estate

A quick look at just how far your money will take you in Dallas, Texas. Here's what $3 million will buy you in Dallas real estate.

Here’s a quick look at just how far your money will take you in Dallas.

4429 Colgate Ave., $2,949,000, University Park

5 BEDROOMS | 5.2 BATHROOMS | 5,474 SQUARE FEET

Walk-in wine storage, a game room with a wet bar, herringbone floors, a large covered patio, and five bedrooms with en suite baths await in this brand-new modern transitional home.

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Source: D Magazine

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Investors gobbled up almost a third of recent homes sold in Dallas area

Texas cities account for more than half of the U.S. metro areas where investors make a large share of home buys.
Texas cities account for more than half of the U.S. metro areas where investors make a large share of home buys.
In the Dallas area, about a third of homes sold went to investors in the quarter ending with September.
Nationwide, more than a quarter of U.S. homes changing hands were acquired by investors, according to a new report from CoreLogic.
“The high U.S. home investor share seen over the past two years nudged up in the third quarter, despite 2023′s mortgage rate increases,” CoreLogic economist Thomas Malone said in the study. “In July, August and September, the share of single-family purchases made by investors was 26.8%, 27.2% and 28%, respectively.

Source: The Dallas Morning News

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Dallas-Fort Worth’s big property deals in 2023 defy real estate slowdown

Despite the year’s headwinds, some of Dallas-Fort Worth’s biggest construction projects kicked off in 2023.
For the real estate industry, 2023 can’t move into the rearview mirror soon enough.
Soaring interest rates. Slumping sales. Rising commercial foreclosures. It’s been a year of dread for many property owners.
But the current down cycle is nowhere near the distress that the industry weathered during the Great Recession or the banking sector meltdown in the late 1980s.
Despite the year’s headwinds, some of Dallas-Fort Worth’s biggest construction projects kicked off in 2023. Major properties changed hands. Home prices were more resilient than many expected.

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Source: The Dallas Morning News

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These will be the 10 hottest real estate markets in the US as home sales surge in 2024

US home sales will rebound strongly in 2024, according to the NAR. Here are 10 cities with strong pent-up demand.

The housing market is on the brink of a dramatic turnaround after back-to-back down years, according to the National Association of Realtors (NAR).

US home sales are on pace to plummet about 18% in 2023, the NAR noted in a recent report, which would be the biggest drop in at least 15 years. Fewer than four million houses will change hands for the first time since 2010, which was just before the recovery from the financial crisis.

Prospective buyers were pummeled by the highest mortgage rates in decades. The rate on a 30-year fixed mortgage peaked near 7.8% in late October as interest rates skyrocketed.

Surprisingly, weaker demand didn’t bring down home prices meaningfully, the NAR found. Instead, sale values kept increasing since there simply weren’t enough houses on the market, which added insult to injury for financially stressed buyers.

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Source: Business Insider

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The Perry Report – Insight into Dallas/Forth Worth real estate

Alex Perry, the #1 real estate agent in TX will be providing a monthly column giving insight into Texas real estate from all angles.

With many Californians moving to the state of Texas and many others considering investing in the Lone Star State, Alex Perry, the #1 real estate agent in Texas, listing and selling the most, will be providing a monthly column giving insight into Texas real estate from all angles – living, investing, and understanding.

■ Breaking Ground: Goldman Sachs recently broke ground on its new massive campus in Uptown. Now another project kicking dirt will be for a 30-story high-rise that will house Bank of America operations. The tower will overlook Klyde Warren Park off Woodfall Rogers Freeway will be the tallest in Uptown. It will stretch more than 500,000 square feet and about 1,000 Bank of America employees currently working in its 72-story downtown tower will relocate to about half of the new property. The property is expected to open sometime in 2027.

■ Taking the Lead: DFW was among the nation’s leaders with double-digit single-family home price increases, and more than half of the homes were selling above their list price. During that same period, home prices were down in New York, Chicago, Boston, Los Angeles and other large metropolitan areas that are now seeing price gains.

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Source: Los Angeles Business Journal

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5 DFW homes were among the priciest Texas properties for sale in November

The Houston Association of Realtors has revealed the most expensive inventory currently on the market from November onwards throughout Texas.

Discerning Texas buyers in search of their dream home have less than a month left this year to make a purchase. Time to fast-track a look at the top multimillion-dollar homes for sale in Dallas-Forth and beyond.

The Houston Association of Realtors has just revealed the most expensive inventory (read: the 10 priciest properties) currently on the market from November onwards throughout Texas.

These posh properties range from new-build masterpieces to sprawling estates. Five North Texas homes make the cut, including a stunning $13.4 million home in University Park. The priciest property of all is in Fort Worth.

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Source: Culturemap Dallas

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