Monthly Archives: December 2012

Dallas-area real estate regains momentum in 2012

Dallas Home Prices

The recession is in the rearview mirror, and North Texas real estate developers are moving forward with new deals.
Office and warehouse construction is picking up. Apartment building shows no sign of a slowdown. Even the housing market, which has recovered by fits and starts, has turned the corner in Dallas-Fort Worth.
The combination of solid job growth and an increasing population fueled strong demand for all types of real estate in 2012.
And the outlook for next year is just as sanguine — assuming the folks in Washington don’t put the economy in reverse.
Biggest game changer:
Three blocks of bushes, trees and lawns erased the canyon dividing downtown Dallas from Uptown.
And by blurring the line between Dallas’ hottest real estate market and the older central business district, the park over Woodall Rodgers Freeway should be a big boost for downtown’s renaissance.
The public-private sector project will spur real estate development and investment in the area for decades to come.
Biggest turnaround:
Since stumbling out of the starting gates, Dallas’ Victory Park project is getting its second wind.
Construction of hundreds of apartments and more office and retail tenants should bring a flood of folks into the development on the northwest corner of downtown.
After years of making headlines because of store closings, foreclosures and loan defaults, Victory Park is set to generate some good news in the year ahead.
Highest sales price:
The recent sale of the 12-story Encana Oil & Gas tower in West Plano set a record for office building transactions.
The new high-rise sold for $120 million, an eye-popping $376 per square foot — head and shoulders above other recent first-class office sales in North Texas.
Cole Real Estate Investments paid top price for the building because of its prime tenant and high-profile location on the Dallas North Tollway.
Biggest building boom:
You’d be wrong if you thought the apartment building binge was running out of gas.
More than 20,000 apartments are under construction in the Dallas-Fort Worth area, more than in any other U.S. market.
And developers show no sign of easing up when it comes to new deals.
Current apartment building totals still come nowhere close to what they were in the 1980s, when more than 45,000 units were completed in just one year.
Greatest market comeback:
After several false starts, the Dallas-Fort Worth home market took off in 2012 with higher prices and a double-digit increase in sales.
The number of houses on the market in North Texas has fallen to its lowest point in more than a decade.
And home foreclosures are down substantially.
Homebuilders are having a hard time keeping up with demand because of a pinch on building lots and labor.
Brightest addition to skyline:
This rapier-thin, pearlescent high-rise is one of the most striking additions in decades to the downtown skyline.
The deluxe condo is just the kind of development Arts District planners envisioned when they planned the neighborhood.
But a nasty catfight over reflections cast by the tower has clouded Museum Tower’s impact on the market.
Biggest office tenant:
Illinois-based State Farm Insurance has gobbled up enough office space in the Dallas area this year to fill a good-size downtown high-rise.
State Farm leased an entire office building in Richardson, then rented two more in Las Colinas.
Now the insurance giant has signed on to be the anchor office tenant in a $1.5 billion mixed-use project in the Telecom Corridor.
Biggest loss: Downtown’s Thomas Building
Dallas’ grand old Thomas Building was built as a palace for a cotton tycoon.
The 88-year-old building on Wood Street was prized by preservationists for its decorative stone-and-brick exterior and storied past. But after sitting empty for years, the landmark was imploded in November to make more room for parking cars.
Biggest boost for southern Dallas County:
After several years of almost no building, North Texas industrial development is surging back with new deals.
And most of them are along the Interstate 20 corridor in southern Dallas County.
Major distribution centers have been announced for Quaker Oats and cosmetics maker L’Oreal Group.
And more projects are pending for companies including automaker BMW.
Greatest potential for 2013:
After a long drought, office developers are poised to crank out new buildings starting next year.
Most of the construction starts will be in Dallas’ Uptown district and along the Dallas North Tollway in Collin County. Less than half of what’s being talked about will probably get built. But with the local economy heating up, prime office space will soon be in short supply in some business districts.
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Source: Steve Brown
Published: 27 December 2012 09:48 PM

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Filed under Before Buying a House, Dallas Real Estate, Dallas Texas REALTOR, Flower Mound, Gardening, Grapevine Texas REALTOR, Highland Village, Real Estate, Rentals, Texas, Texas Real Estate

Gone To Texas…

Gone To Texas

Texas gained more people than any other state between July 1, 2011, and July 1, 2012, but North Dakota was the fastest-growing state, according to Census Bureau population estimates released today.

North Dakota’s population climbed by 2.17 percent, nearly three times faster than the nation as a whole. Following it was the District of Columbia (2.15 percent), Texas (1.67 percent), Wyoming (1.60 percent), Utah (1.45 percent) and Nevada (1.43 percent).

The United States population increased by 2.3 million from 2011 to 2012, to 313.9 million for an overall growth rate of 0.75 percent.

In the year ending July 1, Texas added the most people (427,400), followed by California (357,500), Florida (235,300), Georgia (107,500) and North Carolina (101,000). Those five states accounted for more than half of the nation’s total growth.

California remained the most populous state, with a population of 38 million. Rounding out the top five were Texas (26.1 million), New York (19.6 million), Florida (19.3 million) and Illinois (12.9 million).

The only states to lose population were Rhode Island (-354 or -0.03 percent) and Vermont (-581 or -0.09 percent).

Since the 2010 Census, Texas has experienced a 3.6 percent growth rate, adding the most people (913,642) for a total population of 26,059,203.

North Dakota was also the fastest growing over the two-year period with a 4 percent growth rate, adding 27,037 people for a total of 699,628.

California added the second most people (787,474), followed by Florida (514,878), Georgia (232,282) and North Carolina (216,602).

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Country Living At Its Best with Room to Roam For You & Your Horses!

Beautiful Home With Country Living with Horse Property Too!


Single Family Home
Main Features
4 Bedrooms
5 Bathrooms
1 Unit
Interior: 4,620 sqft
Lot: 3.26 acre(s)
2005 Parker Road
St Paul, TX 75098
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Jim Striegel

Jim Striegel

(972) 899.0634


Listed by: Jim Striegel Team, Real Estate Connections

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Holiday Home for Sale

When you look at your holiday calendars you may find the months already overloaded with seasonal obligations — shopping, entertaining, children’s pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home in the Dallas/Fort Worth area during the holidays, you are under extra pressure to keep your home in “showtime” condition. And that could be the last thing you need before the holiday spirit is broken.

It is understandable why you would be tempted to take your home off the market during the holidays. Better to just pack it in and start fresh in January, right?

Not exactly. Top-selling REALTORS® say taking your home off the market during the Christmas season is a mistake. Jennie Ling, a vice president of Virginia Cook REALTORS® and the number one sales person in her company for almost every one of her more than 35 years in the real estate business, says ”The holidays are my best-selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. I showed homes on New Year’s Day last year. I like the holidays because the buyers have more time, and they can look at homes together.”

Before you take your home off the market, consider the following points:

Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Ling believes the home market is no more affected at Christmas than during other “busy” period. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.

Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn’t a consideration. Finding the right home at the right price, however, is.

Relocating families often don’t have a choice in when they can leave for their new destination. Although 68 percent of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in either before the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year’s Eve, the timing couldn’t be more perfect.

At Christmastime, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.

If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn’t an option, you can put in the closing date of your choice. “Most people can close 30 to 60 days after a contract is written, so there is plenty of time,” Ling says. “Possession and closings are are very negotiable.”

If, after reading this article, you feel the timing may be right to try and sell your Nashville home during this holiday season, then let’s talk, weigh out the pros and cons and see if selling your home during the holidays would be good for you!


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