New Report Shows DFW is a Top Market for Home Sellers

New Report Shows DFW is a Top Market for Home Sellers

Dallas-Fort Worth is ranked as one of the best markets in the country to sell a house, according to a new study. Zillow Inc. said the D-FW area is the fourth best place in the country for home sellers.  “Sellers in the Bay Area, Seattle and Dallas have the most negotiating power, with final sale prices largely at or above asking,” Zillow’s report says.  Zillow said that overall home prices in D-FW were up 5.8 percent in August from a year ago and there were about 5 percent fewer houses on the market.  U.S. home values will continue to rise during the year ahead, but at a slower rate than last year, according to Zillow.  D-FW home prices are forecast to increase by about 4 percent in the next 12 months.

-          Dallas Morning News, September 19, 2014

Dallas Skyline Voted Best in the World

We’re No. 1

Dallas Skyline Voted Best in the World

Eat that, Bid Apple.  Sorry, Chicago.  Dallas is No. 1.    Our fair city just took first place in USA Today’s Best International Skyline reader’s choice poll, coming out ahead of No. 2 Chicago for ultimate bragging rights.  USA Today cited our skyline’s colorful lighting, and pointed out that people flying in to DFW and Love Field airports get a great view at night.  The top 10 finishers: 1) Dallas, 2) Chicago, 3) Rio de Janeiro, 4) Toronto, 5)New York, 6) Washington, D.C., 7) St. Louis, 8) Hong Kong, 9) San Francisco, and 10) Seattle.

-          Dallas Morning News, September 9, 2014

Dallas Home Prices Growing Faster Than the Nation

Dallas Home Prices Growing Faster Than the Nation

Dallas-area home prices are growing faster than the nationwide rate, according to the latest study by CoreLogic Inc.  Dallas prices rose by 9 percent from a year ago in July, according to CoreLogic’s new report.  That’s ahead of the 7.4 percent nationwide increase.  The largest increases were in Riverside, Calif. (13.8 percent) and Houston (11.8 percent).  CoreLogic forecasts that nationwide home prices will grow by almost 6 percent over the coming year.  “Home prices continued to march higher across much of the U.S. in July.  Most states are reaching price levels not seen since the boom year of 2006,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.”

-       MetroTex News, September 2, 2014

-        

Texas Economy Continues to Boom

Texas Economy Continues to Boom

The Texas economy grew faster in the second quarter, thanks largely to the booming energy industry and strong commercial real estate activity, according to a report by the Federal Reserve Bank of Dallas.  Employment growth is a big part of that picture. Texas’ annualized job growth rose from 2.4 percent in the first quarter to 4.3 percent in the second quarter — the strongest pace in nearly nine years. And that happened even though employment growth slowed in May and June.  The state’s job creation is outpacing the nation’s in all major industries except construction, manufacturing and other services in the first half of 2014. The Dallas Fed forecasts 3.5 percent employment growth this year, or 400,000 new jobs.

-          Dallas Morning News, August 11, 2014

Dallas-Ft Worth’s Economic Growth Outpaces Texas

Dallas-Ft Worth’s Economic Growth Outpaces Texas

The Dallas-Fort Worth economy has grown faster than the state average and its employment has increased faster than any other Texas major metro area in the first half of the year, according to a report issued yesterday by the federal reserve Bank of Dallas.  DFW employment has grown 4.5 percent this year through June, compared with 3.5 percent growth with Texas.  Local job creation in the second quarter (5.5 percent or 42,600 jobs) outpaced first quarter growth (3.4 percent or 26,500 jobs).  Most of the region’s employment gains have come from fast growth of the Dallas economy, which has added jobs at a 5.4 percent pace in the first half of the year.  The professional and business service sector saw the most growth.  Manufacturing is the only local industry to lose jobs (-700) in the first six months of the year.

-          Dallas Business Journal, July 22, 2014

Dallas No Longer in Top 10 for Traffic Congestion

Dallas No Longer in Top 10 for Traffic Congestion

The nation's worst rush-hour traffic can be found, not surprisingly, in Los Angeles. But the No. 2 city is a surprise.   Each year, three organizations produce traffic congestion reports.   The reports estimate the “excess travel time” lost in traffic congestion during morning and evening weekday rush hours.     This excess time is relative to the travel time that would be expected if traffic were free-flowing and there was no congestion.   The Los Angeles metropolitan area notches the worst traffic congestion in all three reports — 44.4 percent excess travel time. The second worst congestion is in Austin, Texas, with 34.5 percent excess travel time.   San Francisco (34.4 percent) is No. 3 and New York (33.4 percent) is No. 4. Both cities have a high population density.   Seattle is No. 5 at 32.4 percent, due in part to the cancellation of some planned freeways.   Rounding out the worst 10 are San Jose, Calif. (32.2 percent); Washington, D.C. (31.3); Boston (29.7); Houston (28.3); and Portland, Ore. (28.2).

-          Newsmax, July 6, 2014

Plano Approves Legacy West, Toyota, Fed Ex

Dallas Cowboys Development                   Legacy West with Toyota, Fed Ex, Renaissance Hotel

Dallas Cowboys Development Began Wednesday

Work began Wednesday on the future home of the Dallas Cowboys in Frisco, city officials confirmed.   Mass excavation is expected to start the week of July 7.   The city, the Cowboys and Frisco ISD have partnered on the development, which will include the team’s headquarters, outdoor practice fields and a 12,000-seat multi-use event center at the northwest corner of Warren Parkway and Dallas North Tollway.   The city and the school district have pledged $115 million for the public portion of the 91-acre site. Any costs above that will be paid by the Cowboys’ ownership. About 66 acres at the site will be developed separately by the Blue Land companies owned by Cowboys owner Jerry Jones and his family. That acreage will include retail, restaurants, office space and a hotel.  The indoor stadium and training facilities are expected to be completed in late summer 2016. The stadium will be used not only for Cowboys training but for high school football games and other events.   A ceremonial groundbreaking is planned sometime in August.

-          Dallas Morning News, June 24, 2014

Plano Approves Legacy West, Toyota, Fed Ex

The Plano City Council approved a rezoning request Monday that paves the way for a 205-acre mixed-use project near the J.C. Penney headquarters. The council approved the request to rezone the  undeveloped land, located at the southwest corner of State Highway 121 and the Dallas North Tollway, from commercial employment to central business to allow for greater development flexibility.  Developers plan to break ground after the first of the year on the project that’s part of the Legacy West development, which will surround J.C. Penny’s corporate headquarters. Legacy West will also include Toyota’s new North American headquarters and the new FedEx office building.  The development will include hotel, commercial, retail, office buildings and residential.

-          Dallas Morning News, June 24, 2014