Dallas-Area Home Prices Reach Record

Dallas-Area Home Prices Reach Record

Prices of preowned homes in the Dallas area were up 7.4 percent in the latest Standard & Poor’s/Case-Shiller Home Price Index.  The gain in September from a year ago was the fourth highest in the country – significantly ahead of the 4.9 percent nationwide increase.  Home price increases nationwide have slowed in recent months, but in the Dallas area, the year-over-year price increases have remained steady.  Charlotte, North Carolina and Dallas continue to have price increases considerably above the national average.   Dallas-area home prices are now 12 percent higher than they were before the recession and at record level in the Case-Shiller index.

-          Dallas Morning News, November 26, 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

10 Grammar Mistakes Almost Everyone Makes on the Web

10 Grammar Mistakes Almost Everyone Makes on the Web With more of your communications going over the web, you, like other business people, may worry about grammar. You don't want to get nailed by the grammar police or, worse, make a goofy grammatical mistake that goes viral. Here are 10 grammar errors to watch out for as you post and comment.  1. "Fewer" or "less?" Use "fewer" when referring to a lower number, as in: "They have fewer than 100 workers." Use "less" when referring to a smaller amount, as in: "We need to get there in less time." 2. "More than," not "over." When referencing a greater number, use "more than," as in: "We have more than 15 new clients." "Over" is simply incorrect. It indicates a physical position in space, or can mean "instead of," but not "more than." 3. "Affect" or "effect?" Think what these words mean as verbs and you'll use them correctly as nouns. To "affect" something means to influence it. So if you influence something, you will have an "affect" on it. To "effect" something is to cause it. So if it's the result of something, it's an "effect." 4. "Me" or "I?" Always use "me" following a preposition, as in: "for me," "with me," "to me," etc. But people can get tripped up when something else is added. They'll say: "for my company and I" or "to my partners and I." Check yourself by leaving out the other element. You'd never say "for I." 5. "I could care less." People say this to be dismissive, but it's incorrect. If you could care less about something, that literally means you care more about it now than you ultimately might! People forget to include the "not" in the phrase. The correct statement is: "I couldn't care less." 6. "Nauseous" or "nauseated?" "Nauseous" refers to something that's sickening to contemplate, but it's not how a person can feel. The correct expression is: "I feel nauseated." 7. Irregardless. This isn't a word. The word is "regardless." 8. The Oxford comma. This is the name for the last comma in a series of three or more items. It appears before the word "and" or "or" at the end of the list. For example: "The shirt comes in Small, Medium, Large, and Extra Large." You can omit the Oxford comma, but there will be times when the sentence won't make sense. Better to always put the Oxford comma in there. 9. Commas for clarity. Always read your copy out loud to see if you need a comma to make the meaning clear. "Let's eat my friend" is not the same invitation as: "Let's eat, my friend." 10. Quotation marks and punctuation. Punctuation belongs inside quotation marks. The best way to make sure your grammar is correct is to check an authoritative source. PR professionals say two of the best are The Elements of Style and the AP Stylebook. Here's to your continued success with grammatically correct online communications, as you keep putting together your best year ever.... Enjoy a great month!

Dallas Home Prices Now 4% Over the 2006 Boom

Just the Facts

Top Schools Equal Higher Home Prices

An analysis by Redfin illustrates the steep price premiums that homeowners are willing to pay for homes served by top-ranked schools, offering the latest concrete evidence that buyers place remarkable importance on the quality of schools.  Redfin’s study found that buyers pay an average of $50 more per square foot for homes served by top-ranked schools than for those served by average-ranked schools. It also found that, even within the same neighborhoods, buyers will pay substantially more for homes served by top-ranked schools than they do for comparable homes served by average-ranked schools.  The online survey, conducted this summer, found that of those who said school attendance boundaries were important:

* 23.6 percent would pay 1 to 5 percent above budget.

* 20.7 percent would pay 6 to 10 percent above budget.

* 9 percent would pay 11 to 20 percent above budget.

* 40.3 percent would not go above budget.

        -      Inman News, September 25, 2013

Dallas Home Prices Now 4% Over the 2006 Boom

Dallas and Denver are now the two American cities where home prices has reached and surpassed the levels in the 2006-2007 boom.   And price increases are expected to continue into 2014.  Most Americans (55%) think home prices will go up over the next 12 months, according to a new Bankrate.com report.  "It seems like Americans' love affair with real estate has returned," said Greg McBride, CFA, Bankrate.com's senior financial analyst.   There is concern on the part of some prospective home buyers that prices may be running away from them, said McBride.   "The housing market is aiding the economic recovery," he said.   

-          Dallas Morning News, September 25, 2013 (excerpts)

All Top 100 Markets Gained in July

The July report for Homes.com showed gains for single-family properties in all 100 markets, up from 87 in the previous reporting period.  The Homes.com Local Market Index has been expanded to include midsized markets ranked from 101-300. It provides a closer look at smaller markets nationwide, showing increases in 293 of the top 300 markets, up from 250 the previous month. Year-over-year, all midsized markets increased.  Rebound data for July 2013 in the top 100 markets revealed that 22 markets across the U.S. are fully recovered – up from the previous month’s 19 markets. Additionally, 44 U.S. markets now show a rebound of 50 percent or more, up from 41 in last month’s report.

-          RISMedia September 25, 2013

The Texas Boom is Here to Stay!

Just the Facts

The Texas Boom is Here to Stay!

Texas Net Job Gain:  1,068,900

The Other 49 States Net Job Gain:   1,244,700

The Texas boon has only begun.  Virtually all economists agree that Texas has so many things going for it that the extraordinary growth of Texas will continue for many years.  Our governor touts the Texas story all over the nation, much to the chagrine of numerous other governors.  But the facts are clear.  Low taxes, low regulation and a balance budget brings jobs, not to mention the pro-business, can-do attitude in Texas.   And jobs bring people.

-          Facebook, June 15, 2013

The Texas Housing Rebound to Continue

The Texas housing rebound shows no sign of letting up, but the rapid rise in home prices could taper off, according to a new report by the Federal Reserve Bank of Dallas.  “Stronger-than-average employment growth and consistent in-migration should continue boosting demand for homes,” business economist D’Ann Peterson said in the Dallas Fed’s Southwest Economy quarterly report.

-          Dallas Morning News, June 15, 2013

DFW Area Gains One Million Every 7 Years

The U.S. Census reports that the DFW Metro, now the 4^th largest in the nation, is set to have a net gain of over one million people every seven years.   This is expected to continue for the next 25 years.

-          U.S. Census

Home Prices Jump 9.3% Nationally in One Year

Just the Facts

Sometimes you just have to be politically incorrect.

Home Prices Jump 9.3% Nationally in One Year

Home prices are rising at the fastest rate in years, with some communities seeing double-digit gains, as buyers are returning to a market where the number of properties for sale is in short supply.  Prices increased 9.3% in February from a year earlier.  In some of the hardest hit markets, the gains have been particularly heady.  Home prices rose 23% from one year ago in Phoenix and 18.9% in San Francisco.  Nationally, the median home price in March stood at $184,300, up from $154,600 in January 2012.

-          Wall Street Journal, May 1, 2013

Dallas Business Journal Names 3 Best New Communities

The annual DBJ review of best new neighborhoods announced are significant because each of them are large master-planned communities.

·         Light Farms in Celina, 2,700 new homes, lots open in May.  Eventually 8,300 people will call Light Farms their home.

·         Windsong Ranch in Prosper, 3,100 new homes, first phase opening in 2014.  Some 9,500 people will call Windsong Ranch their home.  The development includes 3 school sites, 4 amenity centers and a 150-acre mixed use commercial development.

·         Harvest in Argyle and Northlake, 3,000 new homes, eventually 9,000 residents.   The first phase opens later this year.  It is located in Northlake and Argyle ISDs.

-          Dallas Business Journal, April 26, 2013

America’s Highest Earning Cities

Survey of 562 cities, population over 50,000

Congratulations to Flower Mound, Frisco and Allen

There are 16 cities in the United State with populations over 50,000 where more than 50% of the households in the city earn more than $100,000 per year.  California and Texas dominate this list of high-earners.  Most of these cities are well-to-do suburbs of large metro areas, including Dallas-Ft Worth, San Francisco, Atlanta and Chicago.

Rank	City/CDP	Larger metro area	Percentage of households making over $100,000	Percentage of households making less than $100,000	Percentage of households making $100,000 to $149,999	Percentage of households making $150,000 to $199,999	Percentage of households making $200,000 or more
1	San Ramon, California	San Francisco	63.50%	36.50%	22.10%	16.40%	25.00%
2	Flower Mound, Texas	Dallas-Fort Worth	62.80%	37.10%	28.30%	15.90%	18.60%
3	Pleasanton, California	San Francisco	59.80%	40.00%	22.80%	14.70%	22.30%
4	Yorba Linda, California	Los Angeles	58.80%	41.20%	23.50%	16.70%	18.60%
5	Carmel, Indiana	Indianapolis	58.40%	41.60%	20.90%	14.30%	23.20%
6	Palo Alto, California	San Francisco	57.80%	42.10%	17.70%	11.90%	28.20%
7	Newton, Massachusetts	Boston	55.40%	44.60%	18.00%	11.70%	25.70%
8	Naperville, Illinois	Chicago	54.80%	45.10%	18.50%	13.50%	22.80%
9	Frisco, Texas	Dallas-Fort Worth	53.70%	46.30%	25.70%	14.70%	13.30%
10	The Woodlands CDP, Texas	Houston	53.40%	46.70%	24.70%	13.40%	15.30%
11	Johns Creek, Georgia	Atlanta	52.10%	48.00%	21.20%	10.40%	20.50%
12	Ellicott City CDP, Maryland	Baltimore	51.70%	48.30%	16.80%	16.40%	18.50%
13	Allen, Texas	Dallas-Fort Worth	51.20%	48.90%	24.50%	16.10%	10.60%
14	Lake Forest, California	Los Angeles	50.70%	49.30%	26.70%	13.70%	10.30%
15	Highlands Ranch CDP, Colorado	Denver	50.50%	49.40%	25.60%	12.70%	12.20%
16	Arlington CDP, Virginia	Washington, DC	50.30%	49.80%	18.10%	12.90%	19.30%

Data was obtained from the U.S. Census. 562 cities were included in this analysis.

-          NerdWallet, April 29, 2013

AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX IST QUARTER 2013

Just the Facts

	AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX
			IST QUARTER 2013
	$310	Park Cities			$87	Richardson
	$249	Oak Lawn			$86	Bedford
	$202	Preston Hollow			$86	Euless
	$146	Southlake			$84	Rockwall
	$132	East Dallas			$83	Denton Area
	$128	Westlake/Trophy Club			$80	North Oak Cliff
	$127	Colleyville			$78	Hurst
	$122	Coppell			$75	Wylie
	$120	Northwest Dallas			$74	The Colony
	$118	Far North Dallas			$74	Ellis County
	$117	Lake Highlands			$73	Sachse/Rowlett
	$112	Fairview			$67	Arlington
	$111	Grapevine			$66	Kaufman County
	$105	Keller			$65	Garland
	$100	Frisco			$59	Cedar Hill
	$98	Plano			$58	Grand Prairie
	$97	Sunnyvale			$56	Duncanville
	$95	Flower Mound/Lewisville			$54	De Soto
	$95	Irving			$52	Mesquite
	$94	Allen			$44	Lancaster
	$91	Carrollton			$41	South Oak Cliff
	$91	McKinney			$40	Pleasant Grove
		Source, Dallas Morning News, April 2013

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U.S. Housing Starts - Back Over One Million in March 2013