Tuesday, April 24, 2012

Year to Date Dallas Home Sales Statistics for March 2012.




Pictured above is an updated M-street home at 6350 Malcolm with 1,589'.
Open house this Sunday, April 29th from 2pm to 5pm.

Despite the gloom and doom reported by the national media, local Dallas area home sales are up big-time, while the number of homes for sale have decreased substantially versus 2011. If you're thinking of selling your Dallas area home, now may be the ideal time.

Of course, it would be great to see home prices and activity continue to expand, but there are no guarantees  based on the U.S. and European debt challenges, the Israel-Iran saber rattling, and higher tax rates that are scheduled for implementation January 2013.

Check out the March statistics year-to-date derived from the North Texas Real Estate Information System (NTREIS). Contact me at 214.690.9682 for an over-the-net price evaluation of your home or neighborhood. Or, email info@t2realestate.com.


Area                    Sales 2012      Versus 2011         DOM         For Sale Inventory
East Dallas                  442                      +36%                           95 Days         -33%
Mesquite                     240                      +4%                             86 Days         -34%
Rowlett / Sachse        158                      +2%                             82 Days         -36%
Addison                      204                      +25%                           87 Days         -30%
North Dallas               138                      +27%                          109 Days         -14%
Oak Cliff                      204                      +1%                             67 Days          -11%
NW Dallas                  126                      +59%                           86 Days          -45%
Oak Lawn                   17                        +21%                           75 Days           -16%
NE Dallas                    126                      +25%                          71 Days           -40%
Plano / Murphy         555                      +11%                           80 Days           -31%
Coppell                        93                       +6%                             78 Days           -26%
Carrollton / FB           308                      +31%                           82 Days           -45%
Richardson                 179                      +31%                           82 Days           -40%
University Park          180                      +30%                           92 Days           -28%
Irving                           246                      +14%                           88 Days           -38%
Rockwall                     256                      +14%                          101 Days           -28%
Lewisville /
Flower Mound /
Highland Village       662                      +26%                            77 Days           -30%
Wylie                          160                      +1%                              83 Days           -32%
Allen                           239                      +5%                              82 Days           -21%
Lucas                          50                        +11%                            88 Days           -19%
McKinney                  446                      +39%                            74 Days           -35%
Frisco                         584                       +6%                              75 Days           -32%
Prosper                       93                        +9%                            108 Days           -18%
Celina                         33                        +50%                             80 Days           -34%
NW Arlington          66                        +22%                           111 Days           -20%
NE Arlington            38                        -3%                               54 Days           -35%
SW Arlington           88                        +22%                             73 Days           -35%
SE Arlington             38                        +23%                             62 Days           -59%
Colleyville                 90                        +64%                            117 Days          -23%
Grapevine                 104                      +22%                              78 Days          -37%
Southlake                  77                       +20%                               82 Days         -20%
Trophy Club /             
Westlake                   56                       +33%                               70 Days          +8%

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.

Wednesday, April 18, 2012

The Historic Homes of Lakewood and Lower Greenville Pt. 1. Photos from Block 6000 of Prospect Avenue in Dallas, Tx.






This is another one-of-a-kind home designed by Clifford Hutsell, who built about 50 homes in the Dallas Lakewood area between and the mid 1920s and early 1940s. Self-taught, his Spanish-eclectic style homes were known for multicolored glazed tiles, ornate metal work, stylish chimneys, wide arches, large stained glass windows and exterior stairs to second floor balconies. The next time you cruise down Lakewood Boulevard to White Rock Lake, keep your eyes peeled for a number of his distinctive creations.


By Troy Corman, www.t2realestate.com

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.

Tuesday, April 3, 2012

Fannie Mae Homestyle Renovation Loans are Great for Real Estate Investors.

Pictured, a prime candidate for a Fannie Mae Homestyle Renovation Loan.
Located at 3751 Seguin, Dallas Tx, this 3/1/2 on a corner lot has hardwoods throughout.

By Troy Corman, www.t2realestate.com

The Fannie Mae Homestyle Renovation Loan is a great mortgage loan solution for real estate investors. Unlike the FHA 203K loan, Fannie Mae's Homestyle Renovation Loan can be used on second homes, investment homes and it can also be used simultaneously on multiple properties. Properties with up to 4 units qualify, so a duplex, triplex or 4-plex can all be financed and owner occupancy is not required.

This investor loan allows investors to use Fannie Mae financing to purchase properties in bad condition that previously could only be bought with cash, or hard money. The cost of the repairs can be rolled into the mortgage, and the repair costs funds are escrowed, and then dispersed to licensed contractors who complete the work. All contractors must be licensed.

The Homestyle Renovation Loan is much more powerful than the more familiar FHA 203K Loan in that it allows for larger purchases and repair budgets. Also, up to 50% of the ARV, or After Repaired Value, can be used for repairs. So, if a home has an after repaired value of $200,000, then $100,000 in repairs would be eligible for financing.

Minimum down payments are 5% for owner occupants, and 25% for investors. A 10% contingency is required. Unlike the FHA 203K loan, cosmetic repairs and luxury items like swimming pools and hot tubs can also be financed with the Fannie Mae Homestyle Renovation Loan.

The loan can also be used for those looking to add on to their existing home. Contact me at 214.690.9682 for additional details, or if you need a referral to a Fannie Mae Homestyle Renovation Loan mortgage broker.


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.