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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We found a deal!

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Click on Picture for additional photos PRE rehab

 

This post is long overdue! It has been a busy year and the demand for a good Real Estate deal is still driving the market.

In January, I helped some clients close a great deal. We had been on the hunt for several months, and all over the metro-plex.  While they were open to location and condition, they had a clear vision of the mid century modern home they wanted.  They were not afraid of a rehab and had contractors readily available.

We made an offer on a home, during the early stages of our home search.  It was located in North Dallas, in a well established neighborhood, on a circular street.  It had a huge lot and great drive up, but it needed everything. My buyers watched this home online for months and received an alert, every time the price reduced.

By the time they were ready to write the offer, another contract had been accepted.  We pursued a few other options, but couldn’t quite find a home they liked that was a real deal.

As luck would have it, the listing agent called us back in November and said the first deal with FHA financing fell through. Were we still interested? We went back to the home, walked through it again, and made an offer based upon the knowledge the the home would need cosmetic improvements, a new roof, and an a/c system.

After the home inspection it became clear it needed a lot more than cosmetics.  It was going to need system, structural, and mechanical improvements. This included foundation, electrical and plumbing.  During our option period we went back to the seller with a reduced purchase price to reflect the amount of money my clients would have to sink into it,  just to make it habitable.  And folks, we got one heck of a deal.  We purchased it at 53% less than original list price :-)

It pays to be persistent, to do your due diligence, and offer what a property is worth!

The new owners are almost done with their remodel process. I will post a few new photos soon of their custom mid century modern home.

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Mark Dotzour Economic Outlook (Video)

Economic Outlook, Governmental Affairs, Real Estate, Real Estate Finance

It actually exits, an economists with a sense of humor.   He is one of the best! See the link below for a video.   He tells it like it is.  No filter on this guy.  It is entertaining and startling all at the same time.

From COLLEGE STATION (Real Estate Center) – Center Chief Economist Dr. Mark Dotzour shared his “Economic Outlook for Investors and Business Decision Makers” last week at the 2012 Land Investment Expo in Des Moines, Iowa.

The 42-minute video  includes Dotzour’s observations on the outlook for job growth, government policies, farmland and commodity prices and global investment trends. He also discusses what policies he thinks need to be adopted to restart the U.S. housing market.

 

Peoples Company Land Expo Keynote Speaker Dr. Mark Dotzour

 

 

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Having Guts in 2012

Home Sale Statistics, Real Estate, Resources

Looking ahead to 2012, I feel lucky to live in Texas. And better yet, to live in Dallas! The Dallas economy is so strong, that we continue to attract new business and people are relocating from across country to take advantage of the opportunity for growth.   I feel 2012 will bring a slow and steady rise in property values. Nothing dramatic.  But it remains a great time to purchase Real Estate.  Interest Rates are still low. Inventory is still high. It is still a competitive market. And IF you got the guts, now’s the time to buy!

I’m including an article from the Texas Real Estate Center at Texas A&M University, providing some great resources.

COLLEGE STATION (Real Estate Center) – Texas’ economic outlook for 2012 is positive. Job growth is occurring in several sectors, and a low cost of living is enticing businesses to move to the Lone Star State.

It will be tougher going for the nation, however, because of several factors. The housing market needs to clear a high number of foreclosures. Consumers need to pay off their debt. The banking system needs to write off bad debt. Small businesses need to start hiring again.

Writing for the January issue of Tierra Grande magazine, Real Estate Center Chief Economist Dr. Mark Dotzour says, “Fortunately, Texas is poised to outperform the U.S. averages. Home sales volume in Texas should show modest improvement over 2011, and prices should be stable throughout 2012.” Dotzour’s economic outlook is titled “Texas Sails On: Nation Battles Headwinds.”

Other articles detailing findings from the nation’s largest publicly funded real estate research organization are in the issue scheduled for mailing in late January.

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Street Closures at the City Courts Bldg, Dec 29, 2011

City of Dallas, Neighborhood Events

Street Closures at the City Courts Building – 2014 Main Street On Thursday, December 29, 2011, starting at 9am, there will be street and sidewalk closures at 2014 Main Street. Please be aware that both Main and Commerce streets and sidewalks could be coned and barricaded off most of the day. Therefore, parking will be limited on those streets and sidewalks. All citizens/officers who are attending Municipal Court will be impacted. Entrance/exit to the surface parking lot at 2014 Main is discouraged during business hours tomorrow.

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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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Update from Campagna Property Management Services

Lakewood, Property Management, Real Estate

Written by Anthony J. Campagna, SR – Broker / Owner / Founder 

I wanted to give everyone an update on the personnel changes at our office. Matthew Hartmann, who had been with my company for 16 ½ years, has left us for another opportunity. Matt came to work with me on Labor Day weekend, 1995, and has been a valuable asset to my company. Matt has learned a lot about real estate and property management, but has decided to venture into the commercial end of the business.  I certainly appreciate all of the years of dedicated service to me and to my customers, my tenants and most importantly, my property owners such as you. We wish Matthew good luck in his new adventure and success in all of his endeavors.

To fill the void, I take great pride in presenting to you the newest asset to our company and our new property manager. He has been 23 years in the making and I have known him since the day he was born. My son, Anthony J. Campagna, Jr., is now my property manager for CAMPAGNA PROPERTY MANAGEMENT SERVICES.  Anthony graduated from Lake Highlands High School with honors and graduated from my alma mater, Texas Tech University, with a degree in political science. He has seen first hand the work and dedication it takes to perform this job well.

Initially, I think he was a bit overwhelmed with all of the information that was thrown his way, but with patience, guidance and some additional experience, he will grasp this opportunity and do a fine job. He graduated with “A” average from Texas Tech, has a Black Belt in Taekwondo and is a daily visitor to the gym. To say the least, he tries to be perfect in all his endeavors. I am sure you will find him to be diligent, personable and responsible. If he doesn’t know the answer to a question, he can always ask his “boss”!

Angela Mitchell is our illustrious office flight deck commander and bilingual and friendly front desk greeter. She maintains a great relationship with our tenants and helps them whenever possible.  Joe Monzingo is our most experienced leasing and sales agent.  Franceanna Campagna, President of the Dallas Chapter of the National Association of Residential Property Managers, is our liaison to our Property Management professionals, and a leasing and sales agent, as well as making her dad proud.   And last, but certainly not least, is my sister, Jo Trout. She makes certain that the leases are executed properly with all the forms being complete and correct. But most importantly, she monitors and pays the vendors and, of course, you, our owners, and verifies that all is correct with your monthly and yearly statements. With this crew working for you, you are in great hands.

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Why Realtors Support Proposition 2

City of Dallas, Governmental Affairs, Lakewood, Neighborhood Events, Resources

The following information is provided by TAR – The Texas Association of Realtors.

Do you like water? Then vote for Proposition 2

Proposition 2 saves taxpayer dollars on water projects needed by many communities. For example, it gives cities a lower-cost way to repair and replace water mains and to keep treatment plants from being overwhelmed.

How does Proposition 2 save money?
If Proposition 2 passes, communities can finance these much-needed projects through Texas Water Development Board bonds—a low-cost way to pay for them. Without Proposition 2, communities will be forced to finance these projects via alternate, more expensive methods.

What about the other propositions on the Nov. 8 ballot?
The Texas Association of REALTORS® has also endorsed Propositions 1 and 8. Proposition 8 extends a tax exemption to Texans who manage their land to conserve water and protect water quality. Proposition 1 would allow the surviving spouse of a 100% or totally disabled veteran to retain the disabled veteran’s property-tax exemption after the veteran is deceased/

Watch a video explaining why proposition 2 is good for Realtors:

Why we support Proposition 2 (Texas 2011)

 

 

 

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Economic Forecast 2012: What you need to know!

Home Sale Statistics, Investors, Lakewood, Real Estate, Real Estate Finance, Resources

Last week I attended an economic forecast presented by DFW MetroTex Board of Realtors.

 http://www.dfwrealestate.com/forecast2012presentations

Here’s what you need to know.  Economists predict moderate job growth for 2012.

We are in a unique recession.  In the past, economic recovery has been lead by the housing market.  However, due to high unemployment rates, a lack of consumer confidence, and continued credit contraction, the demand for housing remains low.  Unless congress creates the policies to encourage businesses to hire we will see at best modest job growth. It appears that major business investment decisions will be postponed until after 2012 election, resulting in sluggish job growth into the first quarter of 2013.

The good news: Texas as a whole has outperformed the national average.  We lagged into the recession.  While real estate values are location specific, DFW did not experience the boom and bust that affected the Sand States.  Our economy has continued to grow at a rate above national levels, and the projected job growth and expected increase in population is an indicator that we will lead in the national recovery.

Here’s the best news!  There has never been a better time to purchase Real Estate! Interest rates remain low.  FHA has first time home buyer programs allowing buyers to finance a home with 3.5% down.  And a high volume of foreclosures causes distress in the market place that will continue to affect sellers’ values and provide plenty of options to the deal seekers.

 

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Early Voting: Your Private Property Rights

Investors, Neighborhood Events, Real Estate, Resources

To all of my REALTOR and Real Estate Investment  friends AND those concerned with protecting YOUR Private Property Rights

Early voting will be held Oct 24 – Nov 4, 2011 so that Texans can vote on ten Texas Constitutional Amendments. During the early voting period, you may vote at any early voting location in the county in which you are registered. For exact dates, times and early voting locations, visit our website at www.DFWRealEstate.com or call the MetroTex Government Affairs Department at 214-540-2726.

The Texas Association of REALTORS® supports amendments 1 (ad valorum exemption for surviving spouse of Veteran), 2 and 8 (both dealing with water rights).

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