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.

Friday, March 16, 2012

Dallas-area Home Listings at 10-year Low.

This updated M-street home at 6350 Malcolm is a 2/1/2. Get more details.

Dallas Morning News article summarized by Troy Corman, www.t2realestate.com

Dallas Morning News real estate editor Steve Brown (@stevebrownDMN) , reported this morning that there are fewer bargain buys available for north Texas home buyers. Industry experts think we've passed the bottom of the real estate market in north Texas. Demand is now outstripping supply in many north Texas suburbs, as the overall number of pre-owned homes for sale in Dallas is at a 10-year low.

Supply of homes for sale in Frisco, Plano and Grapevine are at 3 months, 3 months and 2.5 months respectively. A balanced market is considered a 6-month supply. Above that level is considered a buyer's market, while below the 6-month level is generally considered a seller's market.

Even homes in University Park and Highland Park are selling at a faster clip than the area average, as these Park Cities homes are now selling 30% faster than in 2011.

Generally, more homes are listed for sale in March, but so far, that hasn't been the case. With better news about the  DFW real estate market, more sellers could enter the market. Also, just this week, the interest rate on the 10-year bond spiked, which is tied to long-term mortgage interest rates. If mortgage rates begin to rise, look for the market to heat up, as buyers realize they'll have to pay more, the longer they wait.

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.

Thursday, February 9, 2012

Find Foreclosure Homes Online at Fannie Mae's Homepath.com

By Troy Corman, www.t2realestate.com

Buyers can buy  foreclosure homes online at HomePath.com.

Fannie Mae announced that it has expanded it's pilot program for selling foreclosure homes online. Buyers interested in Fannie Mae foreclosed properties can now view and bid on them online at HomePath.com.

Realtors can now submit offers on behalf of their home buyers, and track the status of their offers on the HomePath.com website. Fannie Mae hopes that the online REO website will speed up the real estate recovery and dispose of foreclosures more efficiently.

The pilot program of the online home selling system by Fannie Mae originated in Orlando, Florida; San Diego, California; and Detroit, Michigan. To read more details, find the sourced article at DSNEWS.com. Active Data Technologies developed the online system and touted the success of the pilot program within a few months.

The online offers feature is now available for all fannie mae properties throughout the United States. Real estate agents are able to get receipt confirmation and track the status of their offers on HomePath.com.

Buying foreclosure homes is how I got started in real estate. If I can help or answer any questions for you, you can reach me on my cell at 214.690.9682.

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.

Sunday, February 5, 2012

January 2012 Dallas Home Sales Market Report.

By Troy Corman, t2realestate.com


Below we'll take a look at homes sold in Dallas and DFW suburbs in January. Keep in mind, for sale inventories are down dramatically compared to one year ago. That may have an effect on some popular suburbs showing volume declines. Statistics are compiled from the North Texas Real Estate Information System (NTREIS) for homes sold from January 1 through January 31st for 2011 and 2012.
  • Frisco Homes 2011 * 113 Homes Sold  * $87.50' * 113 Days
  • Frisco Homes 2012 * 122 Homes Sold * $95.18' * 107 Days 
  • Plano Homes 2011 * 121 Homes Sold * $87.39' * 117 Days
  • Plano Homes 2012 * 106 Homes Sold * $85.28' * 106 Days
  • Allen Homes 2011 * 67 Homes Sold * $86.18 * 99 Days
  • Allen Homes 2012 * 57 Homes Sold * $87.70' * 116 Days
  • McKinney Homes 2011 * 113 Homes Sold * $77.09' * 114 Days
  • McKinney Homes 2012 * 115 Homes Sold * $79.47' * 91 Days
  • Richardson Homes 2011 * 29 Homes Sold * $79.83' * 91 Days
  • Richardson Homes 2012 * 33 Homes Sold * $86.80' * 121 Days
  • Garland Homes 2011 * 88 Homes Sold * $59.62' * 116 Days
  • Garland Homes 2012 * 90 Homes Sold * $57.07' *104 Days
  • Rockwall Homes 2011 * 29 Homes Sold * $73.23' * 116 Days
  • Rockwall Homes 2012 * 31 Homes Sold * $77.66' * 113 Days
  • Rowlett Homes 2011 * 38 Homes Sold * $65.53' * 95 Days
  • Rowlett Homes 2012 * 23 Homes Sold * $67.74' * 101 Days
  • Mesquite Homes 2011 * 65 Homes Sold * $50.27' * 109 Days
  • Mesquite Homes 2012 * 46 Homes Sold * $44.45' * 133 Days
  • Carrollton Homes 2011 * 47 Homes Sold * $77.53' * 97 Days
  • Carrollton Homes 2012 * 58 Homes Sold * $76.66' * 99 Days
  • Farmers Branch Homes 2011 * 11 Homes Sold * $76.21' * 95 Days
  • Farmers Branch Homes 2012 * 12 Homes Sold * $73.44' * 97 Days
  • Irving Homes 2011 * 57 Homes Sold * $72.58' * 134 Days
  • Irving Homes 2012 * 65 Homes Sold * $78.18' * 119 Days
  • Arlington Homes 2011 * 144 Homes Sold * $62.13' * 111 Days
  • Arlington Homes 2012 * 145 Homes Sold * $59.57' * 91 Days
  • Grand Prairie Homes 2011 * 65 Homes Sold * $58.33' * 128 Days
  • Grand Prairie Homes 2012 * 60 Homes Sold * $58.62' * 123 Days
  • Colleyville Homes 2011 * 16 Homes Sold * $113.80' * 194 Days
  • Colleyville Homes 2012 * 19 Homes Sold * $123.45' * 109 Days
  • Southlake Homes 2011 * 16 Homes Sold * $117.77' * 130 Days
  • Southlake Homes 2012 * 21 Homes Sold * $122.99' * 104 Days
  • Keller Homes 2011 * 31 Homes Sold * $95.70' * 156 Days
  • Keller Homes 2012 * 26 Homes Sold * $92.72' * 119 Days
  • Lewisville Homes 2011 * 39 Homes Sold * $81.69' * 112 Days
  • Lewisville Homes 2012 * 47 Homes Sold * $81.91' * 87 Days
  • Flower Mound Homes 2011 * 46 Homes Sold * $102.34' * 106 Days
  • Flower Mound Homes 2012 * 26 Homes Sold * $96.59' * 108 Days
  • Highland Village Homes 2011 * 4 Homes Sold * $91.53' * 84 Days
  • Highland Village Homes 2012 * 13 Homes Sold * $83.78' * 111 Days
  • Argyle - Bartonville Homes 2011 * 4 Homes Sold * $112.87' * 253 Days
  • Argyle - Bartonville Homes 2012 * 5 Homes Sold * $138.89' * 168 Days
  • Corinth - Lake Dallas Homes 2011 * 17 Homes Sold * $72.79' * 81 Days
  • Corinth - Lake Dallas Homes 2012 * 24 Homes Sold * $75.34' * 99 Days
  • University - Highland Park Homes 2011 * 19 Homes Sold * $293.26' * 113 Days
  • University - Highland Park Homes 2012 * 20 Homes Sold * $343.81' * 111 Days
  • E Dallas - White Rock Lake Homes 2011 * 44 Homes Sold * $169.24' * 122 Days
  • E Dallas - White Rock Lake Homes 2012 * 39 Homes Sold * $172.52' * 102 Days
  • North Dallas 2011 * 32 Homes Sold * $149.19' * 149 Days
  • North Dallas 2012 * 32 Homes Sold * $165.51' * 103 Days
  • North East Dallas 2011 * 23 Homes Sold * $113.18' * 126 Days
  • North East Dallas 2012 * 24 Homes Sold * $125.71' * 101 Days
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.

    Friday, February 3, 2012

    This Week in Dallas Real Estate. What Housing Glut, and Mortgage Rates Fall.

    By Troy Corman, t2realestate.com

    Dallas Homes Listed For Sale Now at 2001 Levels.
    Steve Brown, real estate reporter for the Dallas Morning News reported this morning that contrary to popular belief, Dallas-Fort Worth home for sale inventory is now under a 5 months' supply. Below 6 months is considered a seller's market.

    And, there's very little new home inventory as well. There are only about 3,000 vacant new homes in the Dallas-Fort Worth metroplex, or about 25% of 2007 levels. Builders say that most of the homes being built are already sold. I guess that's why I'm getting more home builders calling me looking for lots in the Dallas Lakewood and lower Greenville areas.

    Mortgage Rate Lows Break Another Record.
    Freddie Mac reported that 30-year fixed rate loans dropped to 3.87%. That marks another new record, just below the 3.88% level recorded a couple of weeks ago. The 15-year fixed rate mortgage fell to 3.14%, which was also a record low.

    "The House" In Victory Park Goes In To Foreclosure.
    Also reported by Steve Brown, Victory Park's House condo tower is now in foreclosure. Built in 2007, the 28-story tower featured interiors designed by Philip Stark. Only 20 of the 132 units have sold, which started at price points just under $400K for a one bedroom, and up to $2 mil for a penthouse. Originally developed by Ross Perot Jr's. Hillwood and London's Yoo Ltd., German investor's eventually took over ownership and management when the recession severely slowed any Victory Park momentum.

    Lender HSH Nordbank AG wants repayment on $79.8 million in debt from Block J LP, the House condo tower's owner. It will be interesting to see if prices drop substantially for the remaining units.

    Dallas Considered a Commercial Real Estate Hot Spot.
    More than $1 billion in commercial real estate sales have occurred in Dallas-Fort Worth in the last few months. Williams Square in Los Colinas changed hands ($230 million), as did Trammell Crow Center, Fountain Place and Crescent office landmarks for close to $700 million. According to some Dallas commercial real estate brokers, Dallas office property investments are now considered among the top five favorite locations and mentioned in the same breadth with New York, Boston and San Francisco.

    Addison's Behringer Harvard In Default on Frisco Square.
    A payment for six tracts of land in or near Frisco Square, was missed by Behringer Harvard on January 28. The Behringer Harvard Opportunity REIT I Inc. reported to the SEC that it missed the payment, financed by Bank of America, to the tune of $44.1 million. Behringer Harvard has interests in office, retail, apartment building and a now in default move theater at Frisco's Main Street and Dallas North Tolloway location. The Dallas area real estate investment company says that 95% of the apartment and 90% of the office space in Frisco Square is leased. They are fighting to retain control of their ownership stake but they've also reported that they missed a $3 million payment on a Dallas high-rise residential building, which is most likely the Hotel Palomar condominium building at Mockingbird and Central Expressway. Behringer Harvard said lenders may take over the unsold condos.

    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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