Property Tax – What is Homestead, Dallas and Austin Names the best City in US for Jobs

 

 

The best compliment you can give us is a referral to your family & friends

www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

May 2018 Vol 201805-3

 

Spring Maintenance List

Time to tune in your HVAC

Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system

Check your roof and Gutters

Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles

 

Check your Lawn Watering Schedule

Time to turn on those sprinklers and check your lawn watering schedules and adjust them

Check for any broken sprinker heads and replace those

Clean up your windows and screen

Time to get those windows and screens dusted up

Replace Smoke detector batteries

Time to change the smoke detector batteries and check the smoke detectors

Prepare your Lawn equipment

Time to clean up , oil and prepare your lawn equipment for spring mowing

 

What is homestead Exemption in Texas. How does it

influence property taxes

Homestead Law protects the primary home by providing for right of occupancy

From ad valorem taxation point of view, a certain portion of the appraised value of a principal residence is excluded from the taxable value. Filing an Homestead Exemption does provide some relief from property taxes for residents of Texas

Filing Homestead also protects from forced sale from creditors and judgments.

Even an abstracted judgment lien will not attach to a homestead property as long as the property retains its homestead character.

The right to occupy the homestead extends to all family members who continue to occupy it, including those who occupy the property after the owner’s death. This protection applies to  1) a spouse 2) a surviving spouse 3) minor children (and in some circumstances their guardian) 4) unmarried children.

Homestead rights commence when the owner uses the property as a homestead

An owner who owns multiple properties may wish to establish which of the properties is the homestead. A lender may require a borrower to designate which property is and is not a homestead as a condition of the loan

Property remains a homestead until death, abandonment, or sale. If the owner dies, the homestead terminates unless there are surviving family members who are still entitled to homestead rights. A homestead is considered abandoned when its use is discontinued and there is no intent to use the property again as a home. Even a temporary absence from the home is not abandonment unless there is intent to discontinue use as a home. The burden of proof for abandonment is on the creditor.

For additional details on Homestead …click here

 

Dallas & Austin Names the best City in US for Jobs

According to Forbes  Dallas-Plano-Irving is at # 1 and Austin-Round Rock is at # 2 the rest of the top 5 are The rest of the top Five are:

No. 3 Nashville-Davidson-Murfreesboro-Franklin, Tenn.;​
No. 4 San Jose-Sunnyvale-Santa Clara, Calif.;
No. 5 Charlotte-Concord-Gastonia, N​.C.-S.C.;

 

New Home production drops but remains near post-recession high

According to U.S. Department of Housing and Urban Development and the Commerce Department.
Total housing production fell 3.7 percent in April to a seasonally adjusted annual rate of 1.29 million units after an upwardly revised March reading of 1.34 million

The drop in overall production can be attributable to a decline in the multifamily sector — which includes apartment buildings and condos — after a big uptick in March. Multifamily starts fell 11.3 percent in April to a seasonally adjusted annual rate of 393,000 units. Meanwhile, single-family starts remained essentially flat, inching up 0.1 percent to 894,000 units after an upwardly revised March reading. ….More here

Monarch City, a 270 Acres development in Allen

According to Dallas Business Journal Howard Huges Corp is Partnerign with Allen to construct Monarch City, which will span 8.7 million square feet of office, retail, residential and green space. The project will be centered around a more than 20-acre park featuring ponds, water features and hike and bike trails.

 

 

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.

 

 

Texas homes prices still affordable compared to National data

 

 

The best compliment you can give us is a referral to your family & friends

www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

April 2018

 

Spring Maintenance List

Time to tune in your HVAC

Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system

Check your roof and Gutters

Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles

 

Check your Lawn Watering Schedule

Time to turn on those sprinklers and check your lawn watering schedules and adjust them

Check for any broken sprinker heads and replace those

Clean up your windows and screen

Time to get those windows and screens dusted up

Replace Smoke detector batteries

Time to change the smoke detector batteries and check the smoke detectors

Prepare your Lawn equipment

Time to clean up , oil and prepare your lawn equipment for spring mowing

Frisco Wade Park Avoids Foreclosure

According to Dallas business Journal – Frisco Wade Park avoids $2B foreclosure

The lenders, New York-based Gamma Real Estate and Bamcap Partners of Farmers Branch, are seeking repayment of more than $130 million in debt.

Gamma has $82.75 million in loans on Wade Park and Bamcap is owed $48 million.

240 Mile High Speed Rail route from Houston to Dallas soon

An agreement was reached between Texas Central and Amtrak . Texas Central, a private company, plans to construct a 240-mile high-speed rail route from Houston to Dallas. When completed, the multibillion-dollar route will provide riders a 90-minute trip between the two cities, traveling at speeds of up to 200 miles per hour.

According to a statement, Texas Central’s high-speed train is expected to pour $36 billion into Texas’ economy over the next 25 years by providing additional state and local tax revenue, creating 10,000 jobs during each year of construction and boosting development around the three proposed passenger stations… More here

 New homes sales up 4.3 basis point nationally

According to Meyers Research, national new-home sales through March are up 43 basis points year over year.

New-home prices are up 4.5 percent year over year through March. Meyers had estimated a 3.5 percent gain, and JMP assumed a 3 percent gain. At current levels, average selling price is ahead of expense growth.

Existing-home supply has fallen to 3.4 months, and new-home supply has increased to six months. Dallas housing supply is at 1.72 months.

A housing supply of 6-7 month is considered balanced

New Vs Existing home Supply May 2018 (Click to enlarge)

Texas office sales hit five-year low

Demand for Office sales across the state dropped 63 percent year over year in first quarter 2018, according to CommercialCafé.

The 5.6 million sf of inventory sold was the lowest quarterly total in five years.
In the first quarter, office prices in Texas climbed to an average of $199 per sf.

Home prices in Texas still affordable when compared to national data

March data show Texas’ housing affordability remained favorable compared to other states but hovered around a decade low. Rapid price appreciation, fueled by shortages of homes priced under $300,000, challenged Texas homebuyers. Stagnant wages struggled to keep pace with home values, holding the Texas

Housing Affordability Index at 1.5.

The index shows a family earning the median income in Texas could afford a home 50 percent more than the median sale price. For much of the past decade, Texans enjoyed the capability of affording homes priced twice that of the median.

The median price per square foot is at $115

DFW Outperforming rest of the US in multifamily rent increases

According to Abodo.com,Although rest of the city experienced a decline in Multi Family rental due to vacancies and other problems.

The Rents in Dallas-Fortworth Metroplex has an different tale to it. The rents have been steadily raising in the metroplex.

The U.S. average is now $1,015/month for a one-bedroom unit. Rents in Fort Worth went up 4.6% in April to $1,067/month for a one-bedroom apartment, the second-largest rent increase in the country. Denton was sixth with a 3.9% increase to $914, and Dallas took the 10th spot with a 2.5% increase to $1,197.Although experts believe that this increase may be temporary

2017 Rent Trends by State (Click to enlarge)

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.

 

 

Retail Continues to grow, Industrial Slide, New Home Sale Grows 4.3 % YOY

 

 

The best compliment you can give us is a referral to your family & friends

www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

April 2018

 

Spring  Maintenance List 

Time to tune in your HVAC

Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system

 

Check your roof and Gutters

Clean up your gutters for any fall and winter debris. Check your roof to inspect any missing shingles 

 

Check your Lawn Watering Schedule 

Time to turn on those sprinklers and check your lawn watering schedules and adjust them

Check for any broken sprinker heads and replace those

Clean up your windows and screen

Time to get those windows and screens dusted up

Replace Smoke detector batteries

Time to change the smoke detector batteries and check the smoke detectors

Prepare your Lawn equipment

Time to clean up , oil and prepare your lawn equipment for spring mowing

Prep your Front Yard and lawn

If you have dying plants this might be the time to replant new flowers and plants and also remove dying one

add mulch to the flower beds for better moisture intake

Clean up your Grills

If you are in to grilling this would be the best time to get those grills cleaned out and get them ready for sizzling

Deferred Maintenance

Take care of any Deferred Maintenance with respect to plumbing, Caulking, cleaning and changing your HVAC Filter

Median Home Prices up by 5.1% for the month of Feb

According to the data from TAR and Texas A&M University – Median Home Prices up by 5.1% for the month of Feb

Average home prices were at $224,500. There was 3.1 Month of inventory

Texas Market Report – Feb 2018

 

New-home sales 4.3 percent higher than a year ago

DALLAS (Dallas Morning News) – North Texas homebuilders started 8,765 homes in the first three months of 2018, up 6.5 percent from the same period last year, according to data from Residential Strategies Inc.

New-​home sales were 4.3 percent higher than a year ago with 7,865 houses purchased.

​”Sales have been a little ahead of what they were doing last year,” said Ted Wilson, Residential Strategies principal. “The strength is really in the moderate price points.”

Apartment growth strong in Dallas Metroplex

According to Marcus & Millichap’s Dallas-Fort Worth multifamily market report​​ for first quarter 2018, an average of 85,000 individuals have moved into the metroplex in each of the past five years, creating strong demand for area housing. 

Despite robust employment gains, wage growth has not kept pace with home price appreciation, pushing thousands into apartments. Absorption reached the highest level in the last decade in 2017, despite peak unit completions. This suggests there’s still pent-up demand for metroplex housing.

Retail continues to grows with Industrial Sliding according to Ten-X Commercial

According to the March Commercial Real Estate Nowcast published by Ten-X Commercial revealed prices in the troubled retail sector are rising, while prices for industrial properties are dropping.

On Retail, Despite all the headwinds from e-retail and shifting consumer spending, the Ten-X Retail Nowcast continues to chug upward, increasing 0.2% in March from the prior month, leaving it a solid 6.5% above the year-ago level

Industrial was the only segment to decline in March. The Ten-X Industrial Nowcast fell 0.5% from the month prior and is now down 3.8% year over year

Office prices climbed 0.8% in March after a 0.3% decline in February. The segment’s year-over-year gains now stand at 1.3%, having only moved minimally since early 2017.

On Apartments Pricing grew 0.2% in March but is now 0.7% lower than a year ago

Apartment pricing grew in the Midwest and West regions in March, but contracted in the Northeast, Southeast, and Southwest…read more at

Dallas Multi Family growth remains strong attributing to strong employment growth

According to a recent report publised by Marcus & Millichap Rent growth in DFW apartments were at 6.5% with Average Asking rent at $1,091 per month

Fort Worth apartments were more affordable than those in Dallas, with the average effective rent staying below $1,000 per month in 2017. Investor interest in metroplex apartment assets remains strong with the Mid-Cities of Farmers Branch, addison, Carrollton and Arlington attracting a large share of investors last year.

The average price per unit appreciated has accelerated by 10 percent or more for the last three years, reaching $97,800 per door in 2017

Ellis County followed by Johnson County had the lowest Vacancy rates. With South Irving, Mesquite bring at the highest

Read More at

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.

 


 

 

News You can Use – 03-30-2017

 

 

The best compliment you can give us is a referral to your family & friends

www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

Jan 2017 VOL 1242017

 

Winter Maintenance List 

Cover Faucets and Exposed outdoor Pipes

 

Plan your watering schedule. 

Reduce Watering to the yard and
adjust sprinkler according to weather 

 

Remove Christmas Lights and Decoration  

Different HOA have rules around when you should remove the
Christmas light decoration. Its time to put that on
your schedule on the list of things to do

 

$1B data center campus in Richardson

EdgeCore Internet Real Estate plans to build a $1 billion data center in Richardson

According to the Dallas Morning News, EdgeCore wants to build a roughly 900,000-square-foot facility on 33 acres at Shiloh Road and the President George W. Bush Turnpike.

Plans filed with the city of Richardson call for two office and data center buildings, each spanning 358,000 square feet.

Multi Family Good Deals Hard to Come by in Dallas Fort Worth Market

According to Bisnow – Once DFW’s hidden gem in the multifamily market, Fort Worth is entering a more mature market stage with barriers to entry rising. Soaring development costs and competition ramping up in the market make good deals hard to come by in Fort Worth on both the value-add and the new-build sides.

According to Lincoln Property Co. Vice President, Southwest Region Sheila Carter, “Fort Worth is one of my favorite markets, and there’s a few reasons for that. One of them is, until recently, it was the best-kept secret. It wasn’t on anybody’s radar if they were institutional clients, so you didn’t have a lot of that institutional competition….More here

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.

 


 

 

Dallas Real Estate News You Can Use

 

 

The best compliment you can give us is a referral to your family & friends

www.dreamcastlerealty.com

BALGOVIND PANDEY / BHARTI MISHRA

Email: govind.smarthomes@gmail.com

Phone : 940-231-3059/510-364-8072

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

Jan 2017 VOL 1242017

 

Winter Maintenance List 

Cover Faucets and Exposed outdoor Pipes

 

Plan your watering schedule. 

Reduce Watering to the yard and
adjust sprinkler according to weather 

 

Remove Christmas Lights and Decoration  

Different HOA have rules around when you should remove the
Christmas light decoration. Its time to put that on
your schedule on the list of things to do

 

$1B data center campus in Richardson

EdgeCore Internet Real Estate plans to build a $1 billion data center in Richardson

According to the Dallas Morning News, EdgeCore wants to build a roughly 900,000-square-foot facility on 33 acres at Shiloh Road and the President George W. Bush Turnpike.

Plans filed with the city of Richardson call for two office and data center buildings, each spanning 358,000 square feet.

Multi Family Good Deals Hard to Come by in Dallas Fort Worth Market

According to Bisnow – Once DFW’s hidden gem in the multifamily market, Fort Worth is entering a more mature market stage with barriers to entry rising. Soaring development costs and competition ramping up in the market make good deals hard to come by in Fort Worth on both the value-add and the new-build sides.

According to Lincoln Property Co. Vice President, Southwest Region Sheila Carter, “Fort Worth is one of my favorite markets, and there’s a few reasons for that. One of them is, until recently, it was the best-kept secret. It wasn’t on anybody’s radar if they were institutional clients, so you didn’t have a lot of that institutional competition….More here

If you have a Family member, Friend looking to Buy/Sell Real Estate we will be glad to help.