Dallas has done it again!! We've made another ‘BEST' list. this time we are on Forbes, ‘Best Cities For Recession Recovery'. Forbes looked at such things as a diverse economy and heavy growth coming from education and health care in recent years. they also used data on gross domestic product from Moody's Economy.com, unemployment and employment from the Bureau of Labor Statistics, home prices and affordability from the National Association of Homebuilders, and population data from the U.S. Census Bureau. Data are for Metropolitan Statistical Areas. Cities topping the list are not in states that experienced the massive real estate bubble such as California, Nevada and Florida. Austin and San Antonio also made the top ten.
Dallas-Fort Worth-Arlington, Texas
Current GDP: $274.6 billion
End of 2010: $287.9 billion (projected)
Unemployment: 6%
A combination of technology companies like Texas Instruments, communications firms like AT&T and energy companies like TXU (the subject of a $45 billion leveraged buyout in 2007), and the generally strong Texas economy, mean that Dallas is on firm footing for recovery. According to the much-watched Case-Shiller index of home prices, real estate in Dallas has fallen less from its peak than any of the other 19 cities tracked by the index.
Dallas - Fort Worth Home Resales Report
| Comparisons of May 2009 Dallas-Fort Worth home (preowned) sales and prices in North Texas compared to May 2008: | ||
| Single-family home resales | 5,971 | -24% |
| Median price | $150,000 | -1% |
| Average days on market | 79 | NC |
| Pending sales | 5,789 | -16% |
| Listed for sale | 40,244 | -10% |
| Condo-townhome resales | 367 | -23% |
| Median price | $155,000 | 9% |
| Average days on market | 99 | 6% |
| Pending sales | 289 | -21% |
| Listed for sale | 4,122 | 3% |
| SOURCES: Real Estate Center at Texas A&M University; North Texas Real Estate Information Systems Inc. |
Fun Things to Do In and Around Dallas - Weekend of June 13-14 2009
In Dallas:
All My Sons
World War II drama depicting the lives of two American families that are torn apart by the repercussions of the war.
Variations
The Work of Cecilia Thurman in the Main Gallery.
Senior Softball USA
Calling all softball lovers. Come out and see the Texas State Championships and root for your favorite team.
Lee & Grant
Explore the lives of the two most famous Civil War generals. This nationally traveling exhibit includes Robert E. Lee and Ulysses S. Grant's photographs, clothing, documents and more.
Winged Jewels: Dragonfly Workshop
Discover the amazing lifecycle of this highly beneficial insect. See many of them during our annual workshop, which includes a tour of Texas Discovery Gardens and Fair Park in search of dragonflies.
In McKinney:
Garage Giveaway
McKinney Fellowship Bible Church. The church will look like a giant garage sale, but everything is free for the taking!
In Rockwall:
Farmers Market
The Farmers Market offers locally grown produce, herbs, fresh cut flowers and roasted coffee. And many of the Old Town Shoppes on the Square open early offering special promotions for Mkt. Saturday patrons!
In Grapevine:
Great Train Robberies
Some locals will tell you, "it ain't safe to ride the train." It's all in fun though - enjoy the staged train robberies every Saturday and Sunday on the Grapevine to Fort Worth trip.
Grapevine Opry
One of the premier live county music shows in the nation, the Grapevine Opry has established a tradition of excellence seldom equaled for this type show in the country music industry.
Flag Day Celebration
Annual Flag Day Celebration on Sunday, June 14 at 2 p.m. at the Gazebo.
In Plano:
Surf the Bowl - Tribute Bands to the Good, Good, Good Vibrations!
Tribute Bands will keep the 'Good, good, good, good vibrations' Going all summer long!
If you are thinking of buying Dallas real estate for rental property, there are a number of things to consider when choosing the property:
1. Location
If you will be renting to a year 'round tenant, look for a property convenient to major employers, schools, shopping facilities, transportation. If the property will be a vacation property, you will want to be near major tourist attractions.
2. Price
If you hope the rental income will be more than the cost of the monthly mortgage, insurance and taxes on the home, you should be careful to invest no more per month than the local rental market can bear. If your goal for rental income is to "break even" or even to have a negative cash flow, price becomes somewhat less important.
3. Resale
Consider the long-term resale value of the property. If you buy in a fast growing area, the resale value will be greater further down the road. If you buy is a slow growth area, your resale value will be less, but there may be a better rental market.
4. Neighboring homes
Are the neighboring homes well-maintained? If not, they will drive down your property values.
5. Solid construction
Look for solid construction. Tenants tend to put more wear and tear on a home than owners. Find a low-maintenance property suitable for renters. For example, white carpeting will have a much shorter life than something more neutral.
6. Do it yourself
If you live nearby, it can be relatively simple to stay in touch with tenants, and to keep an eye on your investment. If you lack the time, or your property is some distance away, you may wish to work with a property management.
Learn more about Dallas real estate by visiting TexasHomeCentral.com.
Collin County and Dallas foreclosure homes declined slightly in April with 446 new Collin County and Dallas foreclosure filings in April compared to 460 filings in March, according to RealtyTrac.com.
Collin County and Dallas Foreclosure Activity and Home Price Index
Collin County and Dallas foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Collin County and Dallas Foreclosure Geographical Comparison
The Collin County and Dallas foreclosure rate is .04% higher than the state of Texas rate and .11% lower than national statistics.
There are currently 2,969 Collin County and Dallas foreclosure homes with an average foreclosed sales price of $222,421.
Are you or someone you know behind on your mortgage payments and facing a Dallas foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give me a call for a private consultation.
Learn more about Dallas homes for sale at TexasHomeCentral.com
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