Category Archives: Dream Castle Realty New Letter

Your One Source of All DFW Real Estate News from Dream Castle Realty

Governor announces the business reopening in Texas

According to REBusiness Online Gov. Greg Abbott has expanded the reopening of certain businesses and activities. 

Retailers such as barbershops, nail salons, tanning salons, and similar businesses may reopen on Friday, May 8, provided they maintain six-foot distances between workstations.  Office buildings and manufacturing plants that produce nonessential goods may restart their operations at 25 percent of their normal occupancies on Monday, May 18. 


Market Snapshot

Texas home prices rose to $249,000, a 5.8 percent YOY increase. Austin pushed the home prices in double digit.

The Texas Repeat Sales Home Price Index which provides change in single family values.  Repeat sales home index for  Dallas and Houston increased 2.5 and 3.0 percent, respectively

Texas Home Inventory and Market Snapshot

Google plans to build data center in Ellis County Texas

According to Dallas Morning news Compass Datacenters is finishing up the first phase of the data center on 225 acre track East of I35 E on Red OakGoogle has purchased more than 165 acres where it plans another huge data center — its second such project in Ellis County


Rent drops in Austin Metro during Co-Vid 19 Crisis

According to Austin Business Journal COVID-19 has slowed down the metro’s multifamily market, according to ApartmentData.com.

From March to April, apartment rents dropped 1.2 percent to $1,297. That’s a contrast from last year, when rents saw a 5.7 percent increase. 

Occupancy went up 0.3 percent to 91.1 percent in April. 


$1.5 billion Star mixed-use development coming in Frisco

According to Dallas Morning News Dallas Cowboys owner Jerry Jones Bluestar land development company is coming up with another mixed use $1.5 Billion office building in Frisco

The 11-story, 327,000-sf office tower will be at the northwest corner of the Dallas North Tollway and Cowboys Way.

Along with the office tower, a six-level, 1,200-car parking garage is planned for the west side of the tollway.


If you have a friend or family members looking to Buy/Sell/Lease Residential or Commercial Properties. We are here to help you and and your loved ones.

Let us help you find the home where your dreams come true

Dream Castle Realty News Letter – Property Taxes in Texas, Economy and Market

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

Web : https://www.dreamcastlerealty.com

The best Investment on Earth Is Earth – Louis Glickman

 March 2020-Vol 1


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 sprinkler heads and replace those


Clean up your windows and screen


Time to get those windows and screens dusted up


Texas Ranks 7th in Property Tax Nationally

According to WalletHub Texas has the seventh highest real estate property taxes nationally, according to a WalletHub study.


The Lone Star State’s effective real estate tax rate is 1.81 percent. Annual taxes on the state median home value ($161,700) is $2,621. On a $205,000 home, a Texas homeowner would pay $3,703 in property taxes yearly​​.
New Jersey has the highest effective real estate tax rate at 2.47 percent. Hawaii has the lowest at 0.27 percent.
 

Market update – Collin County & Tarrant County

Tarrant County:

Median Price in Fort Worth increased 5.7% YOY. Inventory dropped 0.3 % YOY. Average Days on Market was 68 days when compared to 69 days in 2019

Tarrant


Collin County:

Median Prices in Collin County increased 14.3 % YOY basis. Monthly inventory in Collin County decreased by 0.3%. Average Days on Market decreased by a day in Collin County

collin

Texas Ranked as Top State in terms of Commercial Real Estate Development

According to naiop.org The Lone Star State created and supported 378,700 CRE construction-related jobs, contributing $54.15 billion to the state’s economy in 2019.


Direct construction spending in Texas last year was around $20.9 billion.
​Texas ranked first in three of the four development types NAIOP looked at—office, warehouse/flex, and retail space.
 


San Antonio Market Experiences Strong growth

According to Express News San Antonio Experienced some of the best growth in terms of homes sales attributed to the Vibrant economy.

Prices also rose in January, with the median increasing 6 percent to $229,400. Most of the homes sold, about 57 percent, were priced between $200,000 and $499,000, with about 36 percent costing under $199,000 and about 6 percent over $500,000.


Allen City Council Approves 80 Acres Mixed Use Development

According to The Dallas Morning News The Allen City Council has approved a planned mixed-use development on State Highway 121.

The Development is bought by Thakkar Developers. The Development will include 1 million square feet of office space, 65 single-family homes, 1,600 urban residential units, three hotels and 275,000 square feet of retail, restaurant, and entertainment development at the southwest corner of State Highway 121 and Alma Road

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If you are a first-time buyer or an in the market looking for investment in real estate – Commercial, Residential, Farm land. We can help


We take pride in customer service and our clients see the value we provide.


We take ensure to make the process of buying, selling and leasing real estate seamless for you.

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

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.