Browsing the archives for the East Dallas category.

Big Tex

City of Dallas, Dallas Culture, Dallas Pride, East Dallas, Lakewood, Neighborhood Events

State Fair of Texas

Today is the OPENING DAY of the Texas State Fair.  It is time for corn dogs and waffle cones, midway games and carnival rides, live music and live stock.  Big Tex has a new look and some new moves – It’s been reported he winks at you.  I’m looking forward to great weather and good times this year.

An estimated 3 million people attend the Texas State Fair and bring nearly $350 Million to the Dallas economy.  Plan on spending some money on the midway, but remember there are a lot of free events too.

And if you want to know how to save some money on your tickets, check out Culture Map Dallas with every discount imaginable.

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Let the Sales Season Begin

City of Dallas, Dallas Real Estate, East Dallas, Economic Outlook, Home Buyers, Home Sale Statistics, Home Sellers, Real Estate, Real Estate Finance, Resources

In a recent article in the Dallas Morning News, Real Estate writer Steve Brown notes:

  • North Texas home prices were up 2 percent in February from 2013.
  • North Texas home sales prices jumped by 13 percent in February.
  • But sales of homes in the area struggled to rise above last year’s levels.
  • The number of pending home sales for March – properties under contract but not yet sold – is down 8 percent from last year.

So why the drop in Home Sales? The cold weather not only slowed down construction, but general market activity, as fewer folks were out looking at houses. In addition, the drop in February home sales is a reflection of a shortage of properties on the market.  At the current inventory levels, it is very much a sellers market and with high demand and low inventory, prices will go up.   Year over year, median home prices in North Texas have seen a 10% increase.

According to the National Association of Realtors®, the Existing-home sales fell in January to the lowest level in a year-and-a-half, but ongoing inventory shortages continue to lift prices in much of the U.S.

Dr. Jim Gaines, an economist from Real Estate Center at Texas A&M University, noted in a recent podcast that there are a few other factors to consider that have contributed to a fundamental shift in the market. At the state level, a  higher proportion of sales activity has shifted to the upper median high to high end  of the market, north of $300K.  Furthermore, in some markets the sales activity in the under $150K price range has declined.  Due to the upward shift into the higher end market, the statistics reported in the MLS will also cause a upward shift in home values.

This shift in the consumer market is a result of a tight credit market. Today’s buyers must have higher FICO scores, higher down payments,  and meet stricter underwriting conditions.  The continued Job growth in TX will continue to  contribute to above median income levels.

Housing markets to watch:
Up-Markets – Major Urban Markets
Houston  – driven by the energy sector
Austin  – driven by the  technology
DFW, San Antonio , and Chorpus Christi
These markets are doing well and will continue to do well. Population and economic growth with continue.

For more details you can listen to the housing market update with Dr. Jim Gaines here.

As always, if you are thinking of buying or selling a home, or have a property question in general, please do not hesitate to contact me.

Franceanna@CampagnaRealtors.com
972-588-8863
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Happy New Year!

City of Dallas, East Dallas, Economic Outlook, Home Buyers, Home Sale Statistics, Home Sellers, Investors, Lakewood, Real Estate, Real Estate Finance

Happy New Year to all! The year 2013 was one of continuous growth, both for our company and the Dallas Economy.   In 2013 the Texas economy continued to outperform the national average.  On an annual basis, Texas jobs increased by 2.5% in 2013.   This population growth, fueled by the robust job market, spurred an increase in home sales and helped drive prices up.

In 2013 the Dallas median sales price increased by +15% from $147,000 to $170,000.   According to NTREIS data, in the 75214 zip code where the average sold value is $472,000,  40 homes sold in December 2013, at an average SOLD price of $185 sq foot.  This was a 2.7% increase in $/sq ft, year over year.

As the Dallas economy thrived, Campagna and Associates picked up the pace to keep up with the booming market.  We added a new office manager, Sharon Boland, whose exception organizational and planning skills, and fabulous sense of humor, keeps are office running smoothly.

In 2013 we helped a number of people, buy, sell and lease property. The selling season began earlier in the spring and lasted longer into the summer. It was a year of multiple offers, offers above list price, and “hip” pocket listings.  While a great deal of our business in the Lakewood, M-Street, White Rock Lake and Lake Highlands areas of East Dallas, we also helped a number of clients in Collin County, including Wylie, Sachse and Plano. As the population continues to grow, the popularity of suburban areas will continue to gain more attention, and our business will continue to meet the needs of our clients.

So what should we expect in 2014? I predict the strong economy and job market, will continue to promote DFW as a great city for new business opportunities and an affordable housing market will make DFW a top destination for relocation.  The population growth will continue to drive up home prices and sales activity and 2014 will be just as busy if not better.

If you are looking to buy or sell a home in the DFW area, it is important to connect with an experienced Real Estate Agent.  We are here and committed to helping you reach your financial goals for 2014. Here is wishing you and yours health, happiness and prosperity in the New Year!

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March 2013 East Dallas Real Estate Market Review

City of Dallas, East Dallas, Economic Outlook, Home Buyers, Home Sale Statistics, Home Sellers, Lakewood, Real Estate

 

Below are the March 2013 Single Family Home statistics for East Dallas (MLS Area 12)

East Dallas: 218 single family homes sold which is a 5.3 % increase from March 2012. The Median Sale Price of $250,00  is a 12.1% increase  from March 2012. The average days on market is recorded as 57, reflecting a 45.6% decrease. The amount of inventory is 2.6 months, reflecting a 54% decrease from March 2012.

75214: Single Family Closed Sales: 64, which is a 1.6% increase from March 2012. Median Sales Price was $337,500 showing a 10.0% decrease from March 2012.  And a decreased average of 34 Days on Market, down 54.9%.

Price Range: $158,000 – $850,000

Below $200,000: 3 closed sales

$240,000 – $299,000: 22 closed sales

$300,000 – $399,500: 20 closed sales

$405,000 – $499,000: 4 closed sales

$510,000 – $595,000: 5 closed sales

$679,000– $850, 000: 10 closed sales

75206:  Single Family Closed Sales March 2013: 36, which is 23.3% increase from March 2012. Median Sales Price was $322,000, showing a 2.5% decrease from Jan 2012. The average days on market decreased 68.4% to 50 DOM.

Price Range: $164,000 – $740,000

$164,000 – $198,000: 2 closed sales

$222,500 – $299,900: 11 closed sales

$312,500 – $399,995:  8 closed sales

$400,000 – $585,00:  9 closed sales

$509,000 –  $537,000:  4 closed sales

$656,00  – $740,000: 2 closed sales

If you don’t see your zip code included above and would like to know what home values are doing in your neighborhood, please feel free to email me at: Franceanna@CampagnaRealtors.com

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FHA Changes Coming Soon

East Dallas, Real Estate Finance, Resources

I recently received an update from one of my preferred lenders.   FHA has made some changes and the first change will begin on April 1, 2013.  There are several changes but there are two primary changes home buyers need to be aware of:

Changes coming soon to FHA Loans1.Beginning on April 1 the monthly mortgage insurance premium will go up to 1.35% (from 1.25%) for 30 year and 15 year loans with a loan to value of more than 95%.

2.  Effective June 3, 2013, FHA will collect this monthly mortgage insurance premium for the life of the loan, yes even when the balance falls below 78%.

What does this mean for you?  If you plan on purchasing a home using FHA financing, you will save a lot of money if you get a contract soon.

Feel free to forward or share this with anyone you think it will help and as always, if you have questions be sure to contact me.

If you have any financing questions, give Les a call.

 

Les Tuttle #313115
Cendera Funding #179242
214-221-4008
www.lestuttle.com

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January 2013 East Dallas Real Estate Market Review

City of Dallas, East Dallas, Economic Outlook, Home Buyers, Home Sale Statistics, Lakewood, Real Estate

The Dallas Morning News reported that the Dallas-Fort Worth area hit a record high in 2012, and that D-FW home sale prices were up 7.5% from fourth quarter 2011.

The real estate market right now in Dallas is definitely a seller’s market.  Low inventory, multiple offers, and a frenzy of showings indicates that the supply level right now can’t keep up with the demand.  However, the averages don’t reflect the market as a whole.

 

Below are the January 2013 Singe Family Home  statistics for East Dallas.

East Dallas: 142 single family homes sold which is a 58% increase from January 2012.  The Average Sale Price of $216,057 Price was down 9% from Jan 2012.  The average days on market as 84, reflecting a 9% decrease.  The amount of inventory 2.5, reflecting a 53% decrease from Jan 2012

 

75214:  Closed Sales: 24, which is a 20.7% decrease from January 2012.   Median Sales Price was $324,000 showing a 6.2% decrease. And an increased average of 128 Days on Market, up 12.7%.

 

PriceRange: $160,000 – $1,079,000

 

Below $200,00:               2 closed sales

$215,000 – $282,000:     8 closed sales

$305,000 – $383,500:     7 closed sales

$420,000 – $675,000:     5 closed sales

$950,000 – $1,079,000:  2 closed sales

 

75206: Closed Sales: 22, which is 175% increase from January 2012. Median Sales Price was $358,125, showing a 2.4% decrease from Jan 2012.  The average days on market decreased 28% to 91 DOM.

 

PriceRange: $170,000 – $665,000

 

$170,000 – $285,000:     10 closed sales

$350,000 – $381,000:     4 closed sales

$409,000 – $468,000:     4 closed sales

$500,000 – $529,500:     3 closed sales

$685,000                         1 closed sale

 

If you don’t see your zip code included above and would like to know what home values are doing in your neighborhood, please feel free to email me at: Franceanna@CampagnaRealtors.com

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2013 Predictions for the Dallas Real Estate Market

City of Dallas, East Dallas, Economic Outlook, Home Buyers
Dallas Real Estate

Find me a home

There always seems to be gloom and doom on the national horizon:  “Fiscal Cliff”, “Debt Ceiling” “High Un-Employment Rates”, “State and local government budget cuts”, “Big Banks unwillingness to lend”. And it looks like Washington will continue to muddle through their mess creating uncertainty and a general lack of confidence.  On my New Year’s trip to Las Vegas, I had a family friend say to me: “That’s it! We are moving to Texas! We say it all the time.  If things get any worse, we may actually mean it!” TEXAS, this beautiful Lone Star State, continues to outperform the national average and we have reason to be optimistic, especially here in Dallas.

Largely driven by the energy sector – oil and petrochemicals – Texas Job growth continues to outpace the national rate.  And in 2012, Jobs in the Dallas area increased by 2%.   This increase in area jobs, drives relocation and the population growth in Dallas is stronger than ever.  This means a DEMAND for housing.

In 2012, the number of home sales in Dallas was up by 18% from the previous year.   In addition, Dallas Home Prices increased by 22% with a median price of $215,000, compared to the median home price of $176,000 in 2011. (These statistics are based upon Single Family Home Sales in the city of Dallas, as recorded by North Texas Real Estate Information Systems / MLS).

New Construction is rebounding, but still has a ways to go.  In 2012, Dallas area Single Family home Building Permits were up 15% – 20%.  Home builders are still offering incentives!

Dallas is a thriving real estate market.  The combination of economic and business growth, affordable home prices and the continuing low interest rates makes 2013 a great time for qualified buyers to purchase a home!  And a great time for investors too!

As always, if you have questions about purchasing a home, or if you would like to know what your home is worth, send me an email or give me a call.  I am always available to provide you the most current market information.

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East Dallas Crime Watch Meeting

City of Dallas, Crime Watch, East Dallas, Neighborhood Events, Real Estate Finance

The Old East Dallas Renaissance Coalition [OEDRC] will be meeting at the Meadows Foundation Center for Community Cooperation, 2900 Live Oak Street, Dallas TX 75204, 214.821.0911 on Thursday, May 3, 2012 at 8AM.

Advise your neighborhood groups of this meeting, bring your code enforcement concerns (PLEASE BRING STREET ADDRESSES OF NOTED PROPERTIES), report anything you think is a problem to 311 and get a SR number.

For further information call Ed Zahra, 214.688.1255. Please pass this email notification to anyone that would be interested.

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Northeast Division Crime Alert!

City of Dallas, East Dallas, Resources

Alert: B.O.L.O. Possible Police/Volunteer Impersonator: B.O.L.O. Possible Police/Volunteer Impersonator: Bret Angle W/M/48, driving whit…e Chevy truck with red/blue lights and the words “Dallas VIP #537” and “Dallas County VIP #537”. This individual is driving around the Northeast Division in a white truck with red and blue lights. This person is not connected in any way to DPD. If any vehicle matching this description attempts to help you or pull you over, please call 9-1-1 immediately and caution should be exercised.See More For full details, view this message on the web.  Click on the link and check out his photo!

Remember to stay safe this holiday season!

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Dare to Soar! NARPM 2011 Opening Day

East Dallas, Home Maintenance, Investors, Multi-Family Property, Property Management, Real Estate, Real Estate Finance

It was great to see so many of our Dallas Chapter Members at the opening of the Convention today. There is some great programming scheduled for the rest of this week. And there is still plenty of room and an opportunity for you to register on site. Below is the link for Thursday and Friday’s Schedule.

http://www.narpm.org/conferences/annual-convention-trade-show/schedule.htm

Today’s Business Leader Development was fantastic! We got a dose of Disney, from Dennis Snow who shared his lessons from the Mouse. It was an excellent seminar focusing on the development of world class customer service. By creating a positive powerful experience in which your customers/clients feel valued, you can cultivate intense customer loyalty.

After a brief get together in our hospitality room – #726 – we all headed to the Opening Session. Our Keynote speaker, Linda Larson, challenged us all to elevate our thinking, visualize positive opportunities and improve our communication skills – and improve out bottom line.

It’s now a little after 9pm and I can promise you several of our Chapter Members are still at Chaucer’s off of Beltline in Addison, watching the game and entertaning our Property Management friends.

The Trade Show is now open and tomorrow morning you can stop in and grab breakfast with the exhibitors 7.15am – 8.45am.

At 9.00 am, Dr. Mark Dotzour, from Texas A&M University, will be there tomorrow morning to give us an update on our current economic environment and how it will impact our business. Following the Economic Forecast, it is your choice of open workshop sessions.

If you are a Dallas NARPM member, you should definitely come out for the day. It is money well spent on your business development.

 

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