Dallas-Ft. Worth, TX Real Estate Blog - January, 2016

A New Year Brings New Predictions About Millennials & The Housing Market

We all know millennials are already starting to drive a significant portion of the real estate market, with some statistics now showing they account for around 36% of all U.S. home purchases. 

Despite apartment markets all over the country still red hot due to some millennials not wanting to settle for just any old home, others are out in full force looking to transition from renting to home ownership, and even in places we’re not hearing about all that much. 

The accepted stereotype for millennials is that they want to live in the city and enjoy walkability and a rich social scene filled with plenty of things to see and do. But according new surveys, many young Amerians are actually opting for larger homes out in the suburbs with more bedrooms…

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Hawthorne Street Townhomes in Dallas Nearing Completion

As you may have noticed, we’ve been spending more time than usual talking about townhomes for sale in Dallas lately, mostly because that seems to be one particular product that both developers and home buyers are falling head-over-heels for.

Over the last year or so, lots of new townhome developments have been brought to market, but perhaps few as eye catching as the Hawthorne Street Townhomes over near the Oak Lawn neighborhood. 

Conveniently located just a stone’s throw away from Parkland Hospital and just off the Dallas North Tollway, townhouses here are ideal for anybody already working at the hospital or are perhaps just looking for an easy and quick commute to the heart of the downtown Dallas. 

Dallas’ Uptown neighborhood, which is loaded…

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Construction Finally Begins For Gateway Parks Master Plan in Forney, TX

It’s official! Construction has finally started on Forney’s massive new master-planned community, Gateway Parks. Being developed by Dallas-based Petro-Hunt LLC, Gateway Parks will encompass roughly 2,000 acres once finishes, and cost an estimated $1 billion to build.

Located just 22 miles east of downtown Dallas along Highway 80, Gateway Parks will be just about any commuter’s dream, especially when you also factor in the community’s affordability as well. For now, homes for sale in Gateway Parks will list between $250,000 and somewhere in the $300s, which isn’t bad for new construction in Dallas’ red hot real estate market right now. 

As recently reported, Petro-Hunt plans to bring in around 3 to 5 different home buildings for the project, giving…

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Uptown High-Rise Dubbed Largest Development in Downtown Dallas

In the real estate world, there are some new developments that raise an eyebrow or two and there are other projects that are nothing short of monumental. Plans for a new high-rise project in Dallas’ red hot Uptown neighborhood certainly qualify as the latter. 

Being developed by Trammell Crow Co, construction for the mega 900,000 square foot dual tower project is scheduled to begin as early as this year, and once finished, it’ll be the largest development in all of downtown Dallas.  

Set on a 3-acre development site, the Trammell Crow project will include a 32-story residential building with 255 units, a 19-story office building with 500,000 square feet of space, and 22,000 square feet of additional retail space on the lower levels of the…

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Both Luxury Home Sales & Rising Rents Among 2 Major Takeaways From the DFW Market in 2015

Over the first part of 2016, the talk of the DFW real estate industry was just how busy things were for most of last year. With job growth on the rise all throughout Texas, but especially here in North Texas, the real estate market around DFW was booming to say the least.

But what segments of the market are we specifically talking about, you ask?

First off, according to recently released numbers, its seems luxury home sales in the Dallas area over the course of 2015 increased substantially, with sales of houses priced at $1 million or more jumping by over 12%. For reference, the sales increase of high-end homes in DFW is about twice the increase of overall pre-owned homes in the area.

To some degree, the constant growth of the luxury market really…

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Jordan Spieth Buys an Insane DFW Mansion....AGAIN

Not long after last year’s Masters tournament, reports started to surface about top PGA golfer Jordan Spieth buying a posh new Preston Hollow pad, which was reportedly purchased for $2.3 million. Well, after an incredible 2015 that brought Spieth numerous tour victories, it seems one of Dallas’ most famous residents and the world’s No. 1 golfer has already decided to upgrade.

Purchased from fellow PGA pro Hunter Mahan for over $7 million, the new Dallas mansion was apparently bought back in December, and judging from the listing photos, it’s certainly one of the more impressive homes you’ll find anywhere in town.

Included are five bedrooms, six bathrooms, two half bathrooms, and right around 16,665 square feet. But the most impressive parts about the…

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Could the Drop in Oil Prices Impact the DFW Real Estate Market?

With oil trading for under $45 a barrel and Texas having such a huge presence in the oil industry, some are wondering how plummeting crude oil prices will affect the DFW real estate market. Although Houston is much more likely to suffer from what’s happening in the energy sector, housing analysts are still realistic about cutbacks spreading to other parts of the state.

But one thing DFW has that many other regions in Texas aren’t experiencing is unprecedented job growth, which should help keep the red hot housing market around Dallas moving in the right direction. 

After such an incredible year in terms of home sales and home value gains, it’s important to note, however, that even a moderate slowdown doesn’t mean the market or the local economy is…

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$100 Million Hicks Estate Finally Sells

It was all the way back in March of last year that the $100 million Walnut Place property first hit the market, and now almost a year later, it appears one of American’s most expensive homes for sale is now under contract. 

According to reports, the 25-acre Hicks estate in North Dallas has been purchased by billionaire business man Andy Beal, making it the biggest home deal in Dallas’ history.  

In case you forgot, the mesmerizing property formerly known as the Crespi-Hicks Estate was originally built back in the 1930s and features a whopping 27,000 square feet of total living space. Having been completely re-built back in 2000, the main house now includes seven bedrooms plus additional staff bedrooms, with a master suite that measure 3,000 square…

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