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Just listed: 8832 Ashcraft Dr, North Richland Hills, TX 76182 for $194,900 via @realbird

Just listed: 8832 Ashcraft Dr, North Richland Hills, TX 76182 for $194,900 via @realbird.

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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 stevebrown@dallasnews.com
Published: 27 December 2012 09:48 PM

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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).

Read more here: http://www.star-telegram.com/2012/12/20/4498954/texas-gains-more-in-population.html#storylink=cpy#storylink=cpy

Source: BY STEVE CAMPBELL
sfcampbell@star-telegram.com

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Housing Starts Soar!

In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses housing starts.

Housing starts reached an 894,000 annualized unit pace in October, which is the highest in over 4 years, and up 42 percent from one year ago.
Even with this huge gain, further increases are needed. The 50-year historical average is 1.5 million per year. Now that the household formation is bouncing back and reaching about a million, housing starts need to be at least 1.3 million just to keep the overall vacancy rates stable after accounting for 300,000 or so uninhabitable units that are demolished each year.
Multifamily starts made a larger gain of 57 percent compared to single-family starts, which increased 35 percent. Falling vacancy rates and solid rent gains have tipped developers to focus more heavily on new apartments.
The West region showed the biggest increase with a 73 percent gain. Inventory levels are very tight in California, Seattle, Phoenix, and Las Vegas. Naturally, homebuilders are responding to these market incentives and conditions. However, California lags well behind Texas in housing starts even though California has a larger population and is experiencing a more acute housing shortage because of tight land regulations and high fees associated with taking out housing permits. In Texas, just about anyone can dig earth by simply putting on a construction helmet. So expect a faster home price acceleration in California.
The northeast region experienced a slight downturn over the month and only an 11 percent gain from one year ago. Since Hurricane Sandy was at the very end of October, the lower starts are attributed to market forces in the region and not yet related to the storm. A large overhang of shadow inventory still looms in New Jersey, New York, and Connecticut. All three are judicial foreclosure states and hence it takes forever to turn it into an REO. Some delinquent homeowners are said to game the system by not paying mortgage but finding tenants to collect on rents.
Housing starts are likely to reach 1.1 million in 2013 and then rise to 1.4 million in 2014. That translates into a huge percentage gain of 50 percent in 2013 followed by another 25 percent gain in 2014. But such levels will still be insufficient to meet the rising housing demand. Housing shortage conditions will last for a while.

Source:
Lawrence Yun, Chief Economist
Lawrence Yun is Chief Economist and Senior Vice President of Research at NAR. He directs research activity for the association and regularly provides commentary on real estate market trends for its 1 million REALTOR® members.

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Fixed and Adjustable Mortgage Interest Rates – Basic Facts

There are many different types of mortgage loans. Various types of loans make the whole process of home-buying quite intimidating.

Mortgage interest rates influence the borrower’s choice of mortgage to a great extent.

There are two most prevalent mortgage interest rates. These are fixed mortgage interest rate and adjustable mortgage interest rate. This article briefly describes the two types.

o Fixed Mortgage Rates:

In case of ‘fixed mortgage rates’, the principle and the monthly payments for interest do not change throughout the duration of the loan.

As long as the borrower is in a fixed term agreement, the interest rates remain the same.
The advantage of this type of mortgage interest rate is that the borrowers can keep a track of the exact amount of their payments. They can, thus, manage their personal budget easily.

It is advisable to have a fixed-rate mortgage in case the mortgage interest rates are rising. This is because fixed-rate mortgage fixes the current rate and the borrowers need not worry about the future hikes in rates.

Thus, the long-term fixed mortgage rates protect borrowers from any sort of upward fluctuations in mortgage interest rates.

o Adjustable Mortgage Rates:

The mortgage interest rates that are adjusted from time to time on the basis of an index are termed as the ‘adjustable mortgage rates’.

It is advisable to go for adjustable mortgage rates when there is a downward fluctuation in the interest rates.

These mortgage rates change periodically, that is, every one, three, or five years. Therefore, borrowers can easily capitalize on the new rates that are lower than the previous rates.

Source: By Eshwarya Patel & Business & Finance on Twitter at: @OnlineBizss

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Fall Spruce Up Your Home Time!

It seems every year, pick a project that we can undertake to improve our home. But somehow this project always becomes an expensive ordeal. One year what started as a need to replace a window in our sun room turned into tearing down the walls and gutting the entire room.

Now that’s not to say I’m not satisfied with the end result (because I am), but I enjoyed seeing an articles that give us ideas for low cost ways to spruce up our home.

Ah, those coveted words that every home owner loves to hear when having to update their home: “low cost.”

Sometimes you get what you pay for but the ideas laid out in this article make good sense. A few of the simple things that you can do include adding an accent paint color to an existing room, using pillows to update old furniture or instead of gutting your kitchen adding a simple element to give it the feel of an upgrade.

A while back, Coldwell Banker gave 10 ideas to help whittle down the list. I think, I’ll forward it to my wife in the hopes that this may save me a couple hundred dollars this spring and a dozen fewer trips to the hardware store.

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Affordable Home Located In Lantana Golf Course Community!


Wonderful home in Magnolia located in Lantana, Texas!


Overview
Maps
Photos
Description
Neighborhood

$189,900
Single Family Home
Main Features
3 Bedrooms
3 Bathrooms
1 Unit
Interior: 2,070 sqft
Lot: 0.10 acre(s)
Location
8718 Tyler Drive
Lantana, TX 76226
USA
To get updates on open home dates and other property events, please click the “Like” button below:


Jim Striegel

Jim Striegel

(972) 899.0634
JStriegel@Realtor.com
http://www.JimStriegel.com

   

Listed by: Jim Striegel Team Real Estate Solutions, Coldwell Banker

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Lakeside DFW Destined To Be..

People should not be judged by mistakes made, but rather what they do to correct those mistakes.

The Stewart Family has owned the property now known as Lakeside DFW since 1973. Development of the property has been seriously considered since 1994. Zoning issues, the financial crisis, followed by the worst recession America has seen since 1929 drove Lakeside DFW Land Ltd.’s bank to not renew its loan and threatened to foreclose. Therefore Lakeside filed for bankruptcy protection in October 2010.

Bankruptcy law prevented Lakeside DFW Land Ltd. from paying any creditors until a final settlement with all the creditors was reached. Flower Mound was the only creditor that did not support the Plan to emerge from bankruptcy paying 100 cents on the dollar of all current debts. According to Lakeside DFW’s website, The Town of Flower Mound, which was owed $138,191.33 in January 2011, was repaid with interest in September 2011. The second of 13 payments was made on time in January 2012.

“We are proud to be the only property owners in the Lakeside Business District to have emerged from bankruptcy,” Mr. Stewart stated on the LakesideDFW.com website. “If we had failed, the property may well have been sold off in pieces to the highest bidders. That would have created a mess for the town and wasted a golden opportunity.”

“We stuck it out because we believe in Flower Mound and we want to see this property blossom into something very special.”

“Residents should know the people who are proposing to make such an important investment in Flower Mound,” Stewart insisted, “and we’re proud for them to take a long hard look at us.”

“They also should know,” he added, “that the Town’s mixed use ordinance will ensure quality development at Lakeside DFW, even if everyone at Realty Capital is hit by a truck.”

“From this point forward, Town officials should consider taking their cue from Flower Mound residents,” Stewart suggested. “Residents want Lakeside DFW to help improve their quality of life here in Flower Mound. They are growing impatient with delays.”

Realty Capital, which has done business with literally thousands of entities over its 25-year history, has proposed a stunning $1 billion development along the shores of Lake Grapevine in Flower Mound called Lakeside DFW.

Under the mixed use ordinance, their plan features public trails and parks with lake views, high quality dining and shopping experiences, high quality housing options not found elsewhere in Flower Mound, and office development. It is designed to serve as a magnet for all kinds of activities and for people from all over North Texas.

If that’s not a big enough show of faith, they announced late last month they intend to establish a non-profit organization to benefit the Lewisville Independent School District, the Town of Flower Mound and the Lakeside DFW neighborhood.

At a meeting last week with LISD Superintendent Dr. Stephen F. Waddell and his leadership team, Lakeside DFW officials discussed the possibility of creating the charitable organization, which will be named The Lakeside DFW Foundation.

“The purpose of The Lakeside DFW Foundation is to donate funds to the school district and other causes important to the residents of Flower Mound and Lakeside,” explained Richard Myers, a partner in the Lakeside DFW project and managing director of Realty Capital.

The foundation will collect a small transaction fee on all commercial property sales that occur in the Lakeside DFW project (one-half of one percent). If approved, the project at build-out should generate hundreds of thousands of dollars per year to be donated to worthwhile causes.

Myers, a down-to-earth guy who grew up in a small town in the Midwest, further suggests the foundation’s charter require that at least one-half of all this money be donated to the school district. Increases in property taxes in the district will not currently provide many new revenues to LISD’s maintenance and operations budget so the donations will prove beneficial to schools in the district regardless.

Realty Capital has implemented the same type foundation efforts in other towns and school districts they’ve worked with, such as Argyle and Argyle ISD.

Lakeside currently falls under the Master Plan’s strict “campus-commercial” restriction. “Campus- commercial” does not allow for lake-view restaurants, empty-nester or senior housing; or any kind of pedestrian-friendly retail neighborhoods to be built on the shores of Lake Grapevine.

Lakeside DFW has applied under the Mixed Use ordinance passed in 2008 to amend the Master Plan and zoning to build a mixed-use community. For construction to begin at Lakeside DFW, four out of five Town Council members must approve the zoning application. History has proven it’s extremely difficult to get four out of five votes in agreement on development projects in Flower Mound.

The Stewart family, Realty Capital and Richard Myers have shown great enthusiasm, financial commitment and interest in listening to the people of Flower Mound through a series of open discussion meetings at the Lakeside property. The last occurred April 5 where the topic Multi-Family was brought forward in detail.

Flower Mound residents sharing the same vision as Realty Capital and Lakeside DFW should express their support by contacting their Town Council at the email address below: mayor/towncouncil@flower-mound.com.

Let your Town Council members know you support the zoning change from “campus commercial” to “mixed-use” so the amenities that residents ask for can be built.

Lakeside DFW requires a super-majority approval from the Town Council and it only takes two “NO” votes to completely stop the development. One day a chicken, the next day feathers if only two council members disagree.

You can follow Lakeside DFW by visiting the web site at LakesideDFW.com or “Like” them on Facebook at: Facebook.com/LakesideDFW.

Most importantly, be sure you vote on May 12 for a town council that shares the same vision as you.

Source:

Shane Allen, The News Connection

Published 04/12/2012 – 2:28 p.m. CST

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Mark your calendars for our Laviana of Lantana Open House!

The time has arrived for the “Laviana of Lantana Open House” today & Sunday from 2:00 – 4:00 pm..Food, prizes & More in the Lantana, Texas Community! Take a look at the image for details!

Source: Uploaded by user via Jim on Pinterest

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