Articles for February 18th, 2009
Did Dallas Home Values Increase In 2008?
Maybe. Steve Brown examines a study by a group called CoreLogic, Inc. All day long I have been finding snippets of positive real estate news, so much that I cannot leave my computer. Wonder how much it has to do with President Obama’s real estate rescue plan. As Steve reports, this study runs counter to most that say Dallas Fort Worth values declined in 2008 by 3 to 4-ish percent, certainly not by as much as they did in other markets. Yesterday, I read a report from John Burns Real Estate Consulting that said new home sales, traffic and expectations picked up by “more than expected” in January. But new home prices are still trending down everywhere, including in Texas. The reason we are merely dipping? “Low mortgage rates and a healthy Texas economy.” Take a look at the house photo. I ran this home last week as Lakewood House Porn — the agent, Scott Carlson, tells me the home is already under contract.
Downturn: Show Us The Money
Extra fees making it harder for consumers to borrow — I call it credit constipation.
TARP is Lousy, Says Banker
I’ve heard this echoed right here in Dallas, especially that funds were forced on banks who didn’t even ask for them.
TREC Young Guns View From The Top Tomorrow
February 19 — that’s: tomorrow — is the Texas Real Estate Council’s (TREC) Young Guns round
table discussion for young commercial real estate professionals on at the Tower Club, located on the 48th floor of Thanksgiving Tower (1601 Elm Street). This is an opportunity for young professionals under the age of 30 to enjoy face-to-face conversations with business leaders, hear career advice and gain insight into the commercial real estate industry and the future of Dallas. Registration and networking begins at 5:30 p.m. and roundtable sessions begin at 6:00 p.m. Pre-registration costs are $20 for members and $30 for nonmembers. Parking is included. Pre-registration will close on February 16. Five dollars will be added to these costs for all walk-ups the night of the event. To register for the event or to learn more about The Real Estate Council, visit TREC’s website at www.recouncil.com. P.S. Your’s truly will be there.
Real Estate Downturn: The End (Of The Bottom) Is In Sight
Using old-fashioned supply and demand, not algorithms, some experts are peeping up from the ground with word that the end of the real estate bottom may be in sight. As I noted earlier today, we have reports that home construction nationally is way down. We know it is down in Dallas. Finally we have breathing room to absorb the inventory… if anyone is lending money…
Moving Day For The Bushes
Channel 5 and Channel 8 have crews staked out on Meaders Lane all day long to catch a glimpse of the former president settling into his new home, sweet home. Also heard there may be flying restrictions in force over the house.
Moving Day For The Bushes: Hope The Paint Is Dry
This was the scene in front of the Bush home yesterday — pre-security block off — with all the maintenance crews getting the house ready for them.
Moving Day For The Bushes: Manning The Entrance
Man-ing all right. Contenders for the next season of The Bachelor? (Can you imagine a DPD officer handing off a rose to a group of tearful, tense ladies?) The DPD declined to tell me if they would be staked out 24/7 at the entrance to Daria Drive off Meaders Lane until the gate is erected, for security reasons, of course. When asked if I could drive into the cul de sac(s), they said not unless I had business there.Also: the one officer I chatted up said all the neighbors were happy with the extra police protection — not one complaint.
It’s Move-In Day For The Bushes
This sign in a yard at one of the homes on Daria Place greeted the former president and his wife, Laura. The entire street is now blocked off by police. Earlier today, a Mayflower moving van was spotted coming into the cul de sac along with a large storage truck.
Balanced New Home Market: 3 Or 6 Month Supply?
Across the nation, home construction is down drastically – good news for buyers, bad news for builders and anyone in the construction industry. Yesterday, Steve Brown reported that Dallas-Fort Worth has a 6.9 month supply of new (that is, builder new) homes. Which he thinks is too much:
“A “balanced” market is considered less than a three-month supply.”
Hmm. I thought a six month supply was balanced, or does that apply only to pre-owned homes? Your thoughts?
Wall Street Journal: Lots Of Debt From Trammell Crow Takeover
Over at CB Richard Ellis — interesting reading. Unthinkable: what if CB Richard Ellis couldn’t repay some of those loans?
Today: Real Estate Stimulus D Day
President Obama is detailing his plan for helping homeowners struggling to stay in their homes and explain just how the umpteen billion stimulus package will help jazz up the housing market. What I have heard from local experts: we are in for a spring market like we have never seen — volume wise. Folks who have not had homes on the market, those waiting on the sidelines, are signing listing agreements left and right. Allie Beth Allman has — are you sitting down — more than $800 million in listings. Consumers, say many experts, think that we may have hit the bottom.
Have we?
Meantime, check out this letter to President Obama from Mortgages Unzipped: we need loans and we need them now.
Ebby The Author Celebrates At The Adolphus
I’ve been busy writing today, but could not forget to post this very important opportunity later today to lunch at the exclusive French Room at The Adolphus Hotel with none other than Ebby Halliday, the grand dame of Dallas real estate, with her wonderful new book, Ebby Halliday: The First Lady Of Real Estate. Our Glenn Hunter, executive editor of D CEO will be on hand with a surprise for Ebby, and I’m told the ever bubbly Jocelyn White will emcee. Reservations are required so call 214.651.3520 quick… or email sleonard@adolphus.com. Let’s see… “she’s 98, goes to work every weekday –parties, lobbies, donates, campaigns, and she still finds time to compose songs on her ukelele. Meet real estate legend Ebby Halliday.”
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