Home sales prices also went negative in October, falling 3 percent from a year ago to a median of $140,000. That’s down from a peak of $158,000 in June 2007, according to information gathered through the real estate industry’s multiple listing service.
Through the first 10 months of 2008, the number of home sales in North Texas is down 12 percent from the same period last year and median prices are down 3 percent.
Not all the news in October’s home sales report is bad.
The number of homes for sale in the area has dropped 16 percent. Just over 40,000 homes are on the market – the lowest number since January 2006.
Real estate agents say the for sale inventory is declining in part because many sellers have taken their homes off the market and have decided to wait out the housing downturn.
Tuesday, November 11, 2008
Friday, September 5, 2008
Fults to Start New Firm in Dallas
Despite a flat Dallas real estate market, Tracy Fults took a leap of faith in the creation of his new real estate firm of Fults Commercial, following in the footsteps of his late father and one-time mentor Jerry Fults
“The timing is good for me for where I am in my life,” Fults, the president of Fults Commercial, told CPN. “I’ve been in the business for quite a while and this is a good opportunity for me.”
The new firm will concentrate on commercial real estate properties throughout Texas with a focus on North Texas. The company will specialize in landlord representation, tenant representation, and acquisitions and dispositions.
Fults left his position as senior director in agency leasing for Cushman & Wakefield of Texas’ Asset Services Group where he led Cushman & Wakefield’s agency leasing group in Dallas and oversaw or participated in the leasing of millions of square feet of office space.
Prior to joining Cushman & Wakefield, he was an executive director with the Fults Cos., founded by his late father, Jerry Fults. He was “Rookie of the Year” and was recognized for the highest level of production in his last five years with the company, twice earning the company’s top producer award.
“The timing is good for me for where I am in my life,” Fults, the president of Fults Commercial, told CPN. “I’ve been in the business for quite a while and this is a good opportunity for me.”
The new firm will concentrate on commercial real estate properties throughout Texas with a focus on North Texas. The company will specialize in landlord representation, tenant representation, and acquisitions and dispositions.
Fults left his position as senior director in agency leasing for Cushman & Wakefield of Texas’ Asset Services Group where he led Cushman & Wakefield’s agency leasing group in Dallas and oversaw or participated in the leasing of millions of square feet of office space.
Prior to joining Cushman & Wakefield, he was an executive director with the Fults Cos., founded by his late father, Jerry Fults. He was “Rookie of the Year” and was recognized for the highest level of production in his last five years with the company, twice earning the company’s top producer award.
Friday, July 11, 2008
Dallas-Fort Worth pre-owned home sales down 20% in June
Hot summer weather isn't heating up the North Texas home market.
June sales were down 20 percent from a year ago. And for the first six months of 2008, the number of pre-owned houses sold in the area is off 15 percent from the same period last year.
The good news: Prices are holding up relatively well.
North Texas real estate agents sold 7,371 pre-owned homes last month, the North Texas Real Estate Information System and Texas A&M University's Real Estate Center reported Monday.
June sales were down 20 percent from a year ago. And for the first six months of 2008, the number of pre-owned houses sold in the area is off 15 percent from the same period last year.
The good news: Prices are holding up relatively well.
North Texas real estate agents sold 7,371 pre-owned homes last month, the North Texas Real Estate Information System and Texas A&M University's Real Estate Center reported Monday.
Thursday, June 19, 2008
Dallas officials urge state to require disclosure of real estate sales prices
Dallas City Council member Angela Hunt argued that sales price disclosure would make the property tax system more equitable and eliminate the breaks that many commercial property owners now enjoy because their appraisals are often well below market value.
"Commercial property owners aren't pulling their weight," Ms. Hunt told the Senate Subcommittee on Property Appraisal and Revenue Caps. "And that has created inequities in our system."
"Commercial property owners aren't pulling their weight," Ms. Hunt told the Senate Subcommittee on Property Appraisal and Revenue Caps. "And that has created inequities in our system."
Saturday, May 10, 2008
Dallas-Fort Worth pre-owned home sales drop 11%
Through the first four months of 2008, home sales are off 15 percent in the area, according to statistics released Wednesday from Texas A&M University's Real Estate Center and the North Texas Real Estate Information Systems.
Home sales prices in April were also down 3 percent from a year earlier.
Last month, real estate agents sold 6,751 pre-owned homes through their multiple listing services. That's down from 7,613 in April 2007 and 7,740 sales in April 2006.
Home sales prices in April were also down 3 percent from a year earlier.
Last month, real estate agents sold 6,751 pre-owned homes through their multiple listing services. That's down from 7,613 in April 2007 and 7,740 sales in April 2006.
Thursday, April 17, 2008
Galleria neighbor
Developers have gotten the go-ahead to build the $1 billion Icon Midtown complex next to the Dallas Galleria.
The project on LBJ Freeway just east of the Dallas North Tollway is to include high-rise office space, a hotel and residences sitting on top of a regional shopping center.
It's to be built on the site of the former Showcase Chevrolet dealership.
"The Dallas City Council just approved our zoning by a vote of 15 to 0," said developer Daniel Robinowitz of Icon Partners. "We are excited about that and ready to move forward."
UT team wins
The project on LBJ Freeway just east of the Dallas North Tollway is to include high-rise office space, a hotel and residences sitting on top of a regional shopping center.
It's to be built on the site of the former Showcase Chevrolet dealership.
"The Dallas City Council just approved our zoning by a vote of 15 to 0," said developer Daniel Robinowitz of Icon Partners. "We are excited about that and ready to move forward."
UT team wins
Sunday, April 6, 2008
Dallas Named a Top City for Real Estate Investing
According to D'Ann Petersen, a business economist with the Dallas Fed, Dallas-Fort Worth is leading the country in population growth. "While this sounds pretty negative – the decline in sales and decline in building – if you look at national totals, Texas is still the No. 1 homebuilding state in the country despite all the pullback. And Dallas-Fort Worth is right up there.”
Petersen continues, “Our closings compared to other metropolitan areas are still quite high. That's our demographics and employment base that is keeping that base of home sales still at a pretty high level compared to other areas."
Dallas real estate agents are sure to take the opportunity of a glowing local review to heart by welcoming home buyers to peruse available listings.
Petersen continues, “Our closings compared to other metropolitan areas are still quite high. That's our demographics and employment base that is keeping that base of home sales still at a pretty high level compared to other areas."
Dallas real estate agents are sure to take the opportunity of a glowing local review to heart by welcoming home buyers to peruse available listings.
Subscribe to:
Posts (Atom)
