Category Archives: Real Estate Market

House rent rises. First time home buyers getting priced out by Investors

According to the Wall street journal House rents have increased. First time home buyers are getting priced out due to the onset of investors in Key Metro markets

Rents have increased 13% year to date. The sharp increase in rent is attributed to the increasing demand from people who cannot afford to buy homes.

According to WSJ, Bigger investment banks such as Blackstone Group, Invesco also have committed large sums of money to the sector estimated at $11 billion. Institutional players are looking to build their portfolio that could serve as starter homes for owner occupier


Apartment Markets going through Major turnaround

Recon According to Dr. Luis Torres, research economist for the Texas Real Estate Research Center at Texas A&M University. Torres says the apartment outlook has changed from “catastrophic” when the pandemic began to “positive” today.

A large portion of this is attributed to the roll out of vaccines. Lack of availability of single family homes and increase in prices of single family homes and improvement in the overall state of the economy.


Texas Topped as the best place to buy homes 

According to Wallethub List Texas topped the no 1 state to buy homes.

Frisco was ranked number 1 followed by Austin at no.2 Mckinney was at no.4 followed by Denton at no.5 and Allen at No.6

The rest of WalletHub’s top ten cities were No. 3 Gilbert, Ariz.; No. 7 Durham, N.C.; No. 8 Reno, Nev.; No. 9 Roseville, Calif.; and Nashville, Tenn.  


Texas housing Market at glance


Employment Statistics at a glance From Texas A&M Real estate Center

Texas added 80,900 nonagricultural jobs last month, marking gains in 14 of the last 16 months. 

Texas’ job growth rate matched the nation’s at 0.6 percent. The Texas Real Estate Research Center forecasted a growth rate of 0.5 percent for July. 

The state added 714,800 jobs since July 2020. The Texas economy now needs to gain almost 261,700 jobs to return to pre-pandemic levels.


Development News

38 Acres of Mixed use Development in Keller.

According to Rebusinessonline. Realty Capital Management and South Carolina-based Greystar are underway on construction of Keller Center Stage, a 38-acre mixed-use project on the northern outskirts of Fort Worth

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

House rent rises. First time home buyers getting priced out by Investors

According to the Wall street journal House rents have increased. First time home buyers are getting priced out due to the onset of investors in Key Metro markets

Rents have increased 13% year to date. The sharp increase in rent is attributed to the increasing demand from people who cannot afford to buy homes.

According to WSJ, Bigger investment banks such as Blackstone Group, Invesco also have committed large sums of money to the sector estimated at $11 billion. Institutional players are looking to build their portfolio that could serve as starter homes for owner occupier


Apartment Markets going through Major turnaround

Recon According to Dr. Luis Torres, research economist for the Texas Real Estate Research Center at Texas A&M University. Torres says the apartment outlook has changed from “catastrophic” when the pandemic began to “positive” today.

A large portion of this is attributed to the roll out of vaccines. Lack of availability of single family homes and increase in prices of single family homes and improvement in the overall state of the economy.

According to Wall Street journal Lumbar prices are seeing a decline in the past few weeks. The prices dropped to $1010 from $1200 a week ago. Prices were $482 in October 2021 and currently they are at $879.

Although the prices have dropped, they are not at the level before the pandemic.

According to Wall Street Journal – “Lumber prices are still sky high, to be sure. The spot-price index was $459 a year ago and despite a dramatic tumble, lumber futures remain more than twice what is typical.”


Texas dominates to be the hottest market across the 50 states.

According to Builderonline, Dallas fortworth stood at #1 leading with 50% market share followed by Houston at # 2, Austin at #5 followed by San Antonio at # 6.

https://www.builderonline.com/land/local-leaders-list/2021/

Home Affordability continues to decline due to drop in income and rising home prices.

According to NAR, Lack of housing supply is pushing the home prices higher.  Monthly Mortgage payments are continuing to increase to $1,184 The payment as a percentage of income continue to climb up and is at 16% in April from 13.7% a year ago … for detailed report form NAR click here

     

Housing Affordability from National Association of Realtors

Housing Market Statistics at a glance From Texas A&M Real estate Center


Texas housing Market at glance


Employment Statistics at a glance From Texas A&M Real estate Center

Development News

Kaufman County Attract Development from Centurion American.

According to Dallas Morning News. Centurion American to develop 1,100 acres of land for residential projects.


Residential Community Launch

Meritage Cibolo Community in Saginaw Meritage Homes is planning to build new residential community off U.S. Highway 287 near Eagle Mountain Lake. The community is called Cibolo Hills, I will have 700 houses with pricings starting from $280K ranging from 1,394 to 3,050 square feet.


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

Taylor Morrison to develop 150 SFR in Grand Prairie

According to rebusinessonline Taylor Morrison home corp to develop a 140 SFR Community in Metro Dallas

Taylor Morrison home corp. is looking to develop 14—sq foot single family unit in Grand Prairie


Booming real estate surged prices of rural real estate land in Texas.

According to Texas A&M real estate Center. Post pandemic in 2021 Texas rural land markets have exploded in a burst of activity,” said Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University.

“First quarter 2021 sales of large acreage rural properties grew more than 50 percent in West Texas and 37 percent statewide compared to 2020,” said Gilliland. “First quarter activity exceeded the remarkable levels seen in the third and fourth quarter of 2020 in most areas.

  • Prices in North East Region rose by 12.11 percent to $5,423 per acre
  • Prices in Gulf Region increased by 11.2 percent to $7,069 per acre
  • Austin-Waco-Hill Country prices rose 7.07 percent to $4,424 per acre.
  • South Texas prices remained steady, retreating 0.35 percent to $3,950 per acre.

Home Prices rise everywhere in the first quarter.

According to a report by Wall Street Journal, Home prices rose everywhere “a rapid price appreciation that shows little sign of fading soon with limited housing inventory and robust demand”.

     

The housing boom is widely fueled by low mortgage rates. First time home buyers are overbid losing to cash buyers. The number of homes has been less than the number of realtors available in the market. The reduction in inventory has only extended this increase in home prices. The prices of commodities such as lumber, steel, labor has also contributed to this rapid acceleration of home prices.

Analyst and economist are hoping that the prices would slow as the rate tick up. As of this writing the 10-year treasury yields are at 1.652%


Market Statistics at a glance

The median price of home sold in May 2021 was $292K up 17.3% YOY

Supply seems to be constrained the months of inventory is down to 1.3% YOY down from 1.8%

Median price per sq foot was $145 up from $133.56 in March

Median home size was 2020 sq foot up from 1,980 in March

How the Pandemic Made Lumber America's Hottest Commodity

Development News

Commercial Master planned community in Fort worth

According to the Dallas morning news Cresent Real Estate is planning a Major $250 Million mixed use project in fort worth’s cultural district. The development will include Luxury hotel, Luxury residential units.


Residential Community Launch

Meritage Cibolo Community in Saginaw Meritage Homes is planning to build new residential community off U.S. Highway 287 near Eagle Mountain Lake. The community is called Cibolo Hills, I will have 700 houses with pricings starting from $280K ranging from 1,394 to 3,050 square feet.


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

Austin and Dallas are top destination for foreign investments.

According to Association of Foreign Investors in Real Estate (AFIRE). Dallas and Austin are the Top Real Estate markets in 2021. Atlanta and Newyork were at 25% and 21% respectively.

Overall, 90 percent of respondents said they plan to increase their position in U.S. cities over the next three to five years. 

Of the markets foreign investors plan to leave, New York, Chicago and San Francisco top the list. Houston was also in the top five.


Booming real estate surged prices of rural real estate land in Texas.

According to Texas A&M real estate Center. Post pandemic in 2021 Texas rural land markets have exploded in a burst of activity,” said Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University.

“First quarter 2021 sales of large acreage rural properties grew more than 50 percent in West Texas and 37 percent statewide compared to 2020,” said Gilliland. “First quarter activity exceeded the remarkable levels seen in the third and fourth quarter of 2020 in most areas.

  • Prices in North East Region rose by 12.11 percent to $5,423 per acre
  • Prices in Gulf Region increased by 11.2 percent to $7,069 per acre
  • Austin-Waco-Hill Country prices rose 7.07 percent to $4,424 per acre.
  • South Texas prices remained steady, retreating 0.35 percent to $3,950 per acre.

Home Prices rise everywhere in the first quarter.

According to a report by Wall Street Journal, Home prices rose everywhere “a rapid price appreciation that shows little sign of fading soon with limited housing inventory and robust demand”.

     

The housing boom is widely fueled by low mortgage rates. First time home buyers are overbid losing to cash buyers. The number of homes has been less than the number of realtors available in the market. The reduction in inventory has only extended this increase in home prices. The prices of commodities such as lumber, steel, labor has also contributed to this rapid acceleration of home prices.

Analyst and economist are hoping that the prices would slow as the rate tick up. As of this writing the 10-year treasury yields are at 1.652%


Market Statistics at a glance

The median price of home sold in May 2021 was $292K up 17.3% YOY

Supply seems to be constrained the months of inventory is down to 1.3% YOY down from 1.8%

Median price per sq foot was $145 up from $133.56 in March

Median home size was 2020 sq foot up from 1,980 in March

Development News

Commercial Master planned community in Fort worth

According to the Dallas morning news Cresent Real Estate is planning a Major $250 Million mixed use project in fort worth’s cultural district. The development will include Luxury hotel, Luxury residential units.


Residential Community Launch

Meritage Cibolo Community in Saginaw Meritage Homes is planning to build new residential community off U.S. Highway 287 near Eagle Mountain Lake. The community is called Cibolo Hills, I will have 700 houses with pricings starting from $280K ranging from 1,394 to 3,050 square feet.


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

Summary of the week ending March 5th 2021

>> Fed Chair Powell acknowledged that the long-term rates were rising and did not confirm if the Fed will buy additional bonds leading to further tumbling and sell off in Stocks.

>> Dow at one point tumbling more than 700 points intra day and then recovering to 400 points.

10-year Treasury yield rising to above1.5% for the first time since the onset of pandemic.

>> Growth stocks and Nasdaq hammered due to rotation to cyclical and industrial.


Mortgage rates headed above 3% for the first time since last July 2020.

According to Freddie Mac’s Primary Mortgage Market Survey The average rate on a 30-year fixed-rate mortgage increased to 3.02%. The first since July 2020. We don’t expect this to affect the real estate market presently.

The demand and supply presently is out of equilibrium due to the excess demand and limited supply which was hampered by availability of war materials and labor due to Covid-19 impact

Over 264,900 Texas mortgages were past due in fourth quarter 2020, according to data from the Mortgage Bankers Association


Texas Initial Jobless Claim drops

According to the Texas Real Estate Research Center. Initial unemployment insurance claims in Texas decreased to 38,100 the week ending Feb. 6, continuing a four-week downward trend. 

This is the largest weekly decline since the week ending Sept. 12, 2020. 

“The solid decl​​ine in initial claims is a sign that layoffs have started to slow,” said Texas Real Estate Research Center Research Economist Dr. Luis Torres. ​


Market Statistics at a glance

The median price of home sold in Jan 2021 was $262K up 12% YOY

Supply seems to be constrained the months of inventory is down 1.5% YOY and stood at 1.6

Median price per sq foot was $133.56

Median home size was 1,980

Development News

Commercial Master planned community in Fort worth

According to the Dallas morning news Cresent Real Estate is planning a Major $250 Million mixed use project in fort worth’s cultural district. The development will include Luxury hotel, Luxury residential units.


Residential Community Launch

Meritage Cibolo Community in Saginaw Meritage Homes is planning to build new residential community off U.S. Highway 287 near Eagle Mountain Lake. The community is called Cibolo Hills, I will have 700 houses with pricings starting from $280K ranging from 1,394 to 3,050 square feet.


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

Demand for homes continues, however homebuilder confidence drops

According to the latest NAHB/Wells Fargo Housing Market Index (HMI) Homebuilder confidence dropped from 90 in Nov to 86 in December this is attributed to increasing lumber prices and worker shortages. The builders are less confident that they will be able to deliver the inventory in time.

Record low mortgage rate has led to an influx of new first time Home buyers which had led to the increase in home prices especially in DFW area. Growing demand has not been able to catch up with inventory which could pose an issue in future. “Demand is strong entering 2021,” Chuck Fowke, chairman of NAHB, said in a statement.


Exodus of Tech companies from Silicon Valley continues to Texas

HP Enterprises becomes the latest company to announce relocation of its headquarters to Texas. HPE was joined by Oracle which announced relocating its headquarters from Redwood City in California to Austin Texas. Another Silicon Valley Juggernaut Palantir announced that it would move to Denver. Tesla’s Elon Musk recently revealed that he has moved to Texas


Texas sees increased Jobless claim number for the month of December

Jobless claims increased in Texas to 39,800 for the month of December up by over 11,000 for the week ending Dec. 5, according to the workforce commission


Uptick in Covid-19 cases could hinder economic activity and increase eviction and vacancy rates

According to the Texas Real estate center at A&M Economic activity rebounded, The Texas Residential Construction Cycle (Coincident) Index, which measures current construction levels, ticked up due to the improvements in industry wages, employment, and construction values. The Residential Construction Leading Index rose for the fifth straight month amid increased building permits and housing starts

credit : Real Estate center Texas A&M University


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

Months of average inventory continues to goes down due to strong demand

Collin CountyFort Worth
Average Days on market was 50 days for Collin County Area  Average Days on market was 50 days for Fort Worth Area  
Closed sales increased 27.6 % YoY  Closed sales increased 27% YoY  
Months of Inventory down 1.3% YOYMonths of Inventory down 1.3% YOY

Eviction Extension by CDC

Effective September 4 through December 31, 2020, the Centers for Disease Control and Prevention has issued an Order preventing many residential tenants from being evicted for nonpayment of rent. The Eviction moratorium has been extended through Dec 2020

For additional details please visit https://guides.sll.texas.gov/covid-19/eviction


Mortgage Rates Hit record low fueling increased demand for Residential real Estate investments

The 30-year fixed-rate mortgage averaged 2.78% for the week ending Nov. 5, falling three basis points from the week prior, Freddie Mac   reported Thursday. During this same time in 2019, these loans had an average rate of 3.69%. The 15-year fixed-rate mortgage meanwhile held steady at an average of 2.32%,


New Home Demands Soar in DFW

according to RE/MAX – Home Sales grew 19.6% and prices went up by 19.3% according to the national housing report released by RE/MAX

“September’s massive year-over-year increase in home sales was the latest reminder of the housing market’s overall strength and resiliency,” said Adam Contos, CEO of RE/MAX Holdings, Inc. “Demand is off the charts right now. Buyers of all ages are coming into the market determined to improve their quality of life through amenities, community and the unique security that comes with homeownership. They’re working through the challenges of tight inventory, high prices and competing offers to take advantage of historically low interest rates and, in many cases, the greater mobility they now enjoy through working remote.

“Generational factors and a continuing rebound in home construction support the notion of an active housing market moving into next year.”


LGI Homes slated to build 1,225 homes in Fort Worth

According to Dallas Morning News, LGI Homes is slated to build 1,225 homes in Fort Worth near the intersection of interstates 820 and 30. The community, called Vista West, will be constructed in six phases. Homes will be priced between $230,000 and $280,000. 


National Malls continue to File bankruptcy

According to ABCNEWS CBL and Pennsylvania Real Estate Investment Trust have filed for bankruptcy.

CBL, which operates 107 malls, said more than 30 of its tenants have filed for bankruptcy protection this year and are shutting stores, including woman’s clothing retailer Ascena, which has 100 Ann Taylor, LOFT and other stores in CBL malls. Based in Chattanooga, Tennessee, CBL operates malls across the U.S., including EastGate Mall in Cincinnati and West County Center in St. Louis.

PREIT, based in Philadelphia, has more than 20 properties, including Cherry Hill Mall in Cherry Hill, New Jersey, and Viewmont Mall in Scranton, Pennsylvania.


Phase 1 of 1.3 million-square-foot Fort Worth Logistics Hub breaks ground

According to Rebusinessonline

VanTrust Real Estate LLC has broken ground on Phase I of the 1.3 million-square-foot Fort Worth Logistics Hub, a project that will add 670,941 square feet of Class A industrial space to the local supply.


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

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

Dallas Real Estate Market, Digital Real estate transactions

 

 

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

July 2018 Vol 201807 -01

 

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

Home owners in Dallas sold their homes for 31% median gains and those in West Coast Sold it for 54 % median gain

A New Study by Zillow has pointed out that the median percent gain for home sales stood at 31%

This year has been a solid year from sellers in DFW market. Home owners on an average gained $38,856, at the median, for an annualized return of 2.94

West Coast dominated the metro and city gainers. Chicago and New York fared the worst

 

Did you know Now Home buying and Sales are completely Digital

Dallas Morning News  A New law H.B. 1217, which takes effect July 1, 2018, introduces online notarization to Texas.

A 2017 Texas online notarization law went into effect July 1, prompting​​​​​ the closure of the state’s first all-digital real estate transaction. ​

The law permits notaries to approve documents over a two-way video conference. ​​Clients must display their government ID and sign their names on the screen before the notary digitally signs and stamps. A recording of the video conference is uploaded to the cloud.

 

Largest Solar Project in Texas coming to Winkler County

MRT – Innergex Renewable Energy Inc, a Canadian company will build the 250-megawatt Phoebe solar farm in Winkler County

The project has a 12-year power purchase agreement with Shell Energy North America, which is Shell’s North America wholesale energy marketer and trader.

 

WalletHub releases the list of best and worst Cities for Families in Texas Frisco Ranks at first place followed by Allen.

Wallethub – Frisco was ranked No 1 followed by Allen, South lake, Colleyville and Flower mound

Most affordable housing was in Big Spring, Rockwall, Allen, The colony and Little Elm

Highest Family Income was in Southlake, Colleyville, Frisco, University Park, Keller

 Best cities in Texas 2018

Employment Grew 3.3% in Texas according to Federal Reserve of Texas.

Texas job growth was at 3.3% down from the previous estimate of 3.6%

Texas job growth continued at a strong pace in May,” said Keith R. Phillips, Dallas Fed assistant vice president and senior economist. “However, growth has slipped a little over the past three months, which, along with a slowdown in the Texas Leading Index, has resulted in a slight downward revision to the 2018 forecast… Read More

 

China and Mexico Top Commercial investors in US

According to a report published by National Association of Realtors (NAR)

China was the top Purchaser of US real Estate followed by Mexico, Canada, UK, Germany, Russia, India and Philippines

The Top US Destination for these foreign investors were – Florida followed by Texas, California, Massachusetts, Illinois, Michigan.

Median Value of the transaction was at $975,000 Average Value stood at $2.0 Million 26% of space leased by Foreign or international clients was under 2,500 sq foot   

 

Three in four American think this is a good time to Sell according to NAR housing Surveys

New findings from the National Association of Realtors® show that a high number of Americans, 75 percent, believe that now is a good time to sell a house, while 68 percent think it is a good time to buy.  

  

 

 

 

 

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