Trader Joe's Heads to Dallas. Coming to Lower Greenville in 2012.

By Troy Corman, www.t2realestate.com

Trader Joe's is heading to Big D. Coined as a hip California-based grocery store chain, they are currently in 31 states with 360 stores, and are now entering Texas and Florida. They certainly don't have a typical grocery-store chain web site, as you can see here.

It seems they're a perfect fit for lower Greenville. I just hope they sell Diet Dr Pepper, so I don't have to trek to Fiesta or Mockingbird to fulfill that vice! The new Trader Joe's is scheduled to open in the last quarter of 2012. They're sure to be a big part of the big improvements happening on lower Greenville. In case you haven't been down Greenville Avenue lately, the widened sidewalks, street lights, park benches, bike racks, trees and landscaping (courtesy of the city of Dallas) are now complete.

The Dallas Trader Joe's will be built on the vacant lot at 2001 Greenville Avenue, which formerly housed the Arcadia Theater before it burned in 2006.

Another DFW area Trader Joe's will open in the second quarter of 2012 in Plano, at Preston and Park in Preston Towne Crossing Shopping Center. Trader Joe's will also open a Fort Worth store at 2701 S. Hulen Street in the spring.

In addition, Trader Joe's will open a store in the Houston suburb, The Woodlands in 2012 at Woodlands Parkway and Kuykendahl Road. Like the Fort Worth Trader Joe's, it's set for a spring debut.

It's good to see hammers swinging in 2012. Let's hope that trend picks up speed!

Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
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Why it May be Best to Sell Your Home Now.

By Troy Corman, www.t2realestate.com

Now may be the best time to sell your home. From a local perspective, if you have a DFW area or Dallas home to sell, the available inventory for sale is about 20% below year-ago levels. In fact, DFW home for sale inventory is now below a 5-month supply. That means less competition to attract able and willing home buyers.

Nationally, the economy seems to be improving. Unemployment claims just hit the lowest level since 2008. Plus, shoppers seem to be spending more this holiday season and feeling better about the economy.

Now for the areas of concern. That European debt crisis. The jury is still out on how this one will play out, as the recent wild, daily stock market swings attest. A severe slowdown in Europe has to have some affect on us locally at some point, as Houston and DFW are the 4th and 5th busiest US exporter metros. If we are affected in a big way, it's likely to send would-be home buyers back to the sidelines.

The last wild card is the "shadow" inventory of foreclosed homes that have yet to hit the market. DSNEWS.com just issued a report stating that nationally there is 1 home (delinquent or in foreclosure) in the "shadows", for every 2 homes currently for sale.

According to Corelogic, there are 1.6 million distressed properties that are not yet on the market. This represent about 5 months supply of inventory of distressed homes, while a 1 month supply is considered healthy. The top six states which account for half of the "shadow" inventory include Florida, California, Illinois, New York, New Jersey and Texas.

The shadow inventory includes 770,000 homes that are seriously delinquent, 430,000 are in foreclosure, and 370,000 are REO (owned by bank or lender) according to CoreLogic's report.

To read the full report, visit DSNEWS.com

If you would like to know the precise market conditions in your neighborhood, you can reach me at 214.690.9682. I'd be happy to help.

Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.


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The Safest Way to Learn how to Invest in Real Estate.

By Troy Corman, www.t2realestate.com

There are countless books, blogs, radio shows and seminars about how to invest in real estate. It seems that most of the real estate teaching gurus know that it's easier to sell dreams of riches, than it is to actually sell houses.

The books, blogs, radio shows and seminars are EXACTLY where you should begin, but not end.
Success in real estate, like life, is all about action. Action, action, we want action - A, C, T..... I, O, N!

If I wanted to learn real estate investing in Texas, I wouldn't drop a few thousand dollars on a seminar if I were you. Instead, I'd invest a few hundred on the real estate investing training program taught by Lifestyles Unlimited. It's led by a charismatic leader, self-made multi-millionaire Del Walmsley. Originally out of Houston, they now have field offices in the DFW area in Los Colinas, and a central Texas office between San Antonio and Austin.

Lifestyles Unlimited teaches how to invest in both single family homes, and multifamily homes, AKA apartments.

The Lifestyles Unlimited investing strategy is exactly what I would recommend for the first-time or newbie real estate investor. The goal is to buy a single family rental home that is a distressed sale with an ARV, or after-repaired-value between $90,000 and $120,000. A distressed sale could be a foreclosure, short sale home, or a home that needs work. If you can buy and rehab a rental home for a total cost 25% below market value, you should be in great shape.

Ideally, the single family rental home should have 3 bedrooms and 2 baths with a garage. It shouldn't be more than 1,700' and it should be a one-story home. Larger homes and 2-story homes require more labor and maintenance costs.

Your single-family investment rental home should also be a 1980 build or newer. Often homes built in the 60s and 70s in Dallas and the DFW metro have outdated floor plans, aluminum wiring and cast-iron plumbing pipes. Also, our expansive clay soils can wreak havoc on the foundations of these older homes in foundation-challenging areas like Rowlett, Lewisville and Carrollton.

Another great benefit for real estate investors are the terrific tax write-offs. For a Texas rental home worth about $100K, a real estate investor's annual tax deductions would total roughly $10,000. This includes depreciation of the building cost, mortgage interest, property taxes, insurance, maintenance and advertising.

I would expect 2012 to be another banner year for real estate investing, especially in the major cities in Texas. Rental rates continue to climb with few vacancies. Out of towners continue to flock to Dallas, Austin and Houston in search of jobs and more affordable living. In fact, some economists predict the Texas population could double by 2030.

Buying and rehabbing investment real estate is how I started my real estate career. I've bought and rehabbed a dozen units since 2005 so I'd be happy to help, or just answer any questions to help you get started.

Troy Corman is the founder of t2 Real Estate LLC, a Dallas real estate firm providing specialized knowledge with a hands-on approach. Specialties include residential real estate brokerage, land and acreage, and commercial real estate services. Contact us today at 214.827.1200 if you need to sell, buy or get your DFW property leased.
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