Phone: 214.749.4700
Email: info@modtownrealty.com
The framework has gone up for the second historical green home project brought to the Junius Heights district since 5424 Worth St.
Right next door stands 5426 Worth St, a modern craftsman home co-developed by the Greener City Group and Sustainable Image. The project is a continuation of their “Dallas Green Home Project” that began earlier this year.
5426 Worth St is expected to finish in March of 2012 and is currently available for sale.
Contemporary, tri-level loft with open floor plan conveniently located in a gate community off Ross and 75! Huge living area with natural pine floors and plenty of natural light. Perfect central location keeps you near it all – Arts District, Uptown & Downtown! 1907 square feet of perfection are available for rent at $1900/ month.
View more property photos here
Contact Jeff Gardner at 469.733.3303 to Schedule your Viewing Appointment
Hurry! A property this immaculate won’t be on the market for long!
The 2011 Holiday Charity Bash at Sambuca was a Huge Success! It was a really fun night full of live music, complimentary cocktails, h’orderves and prizes! More importantly we were able to raise $1,100 for Carson’s Crusaders Foundation through your generous donations!
( left to right )Ryan Richardson, founder of Carson's Crusaders; Matt Scobee, Modtown Realtor and Winner of Kindle Fire; Nick Marascia of Guaranteed Rate
iPod Touch Winner's
You can find more photos on the Guaranteed Rate Facebook Page. Be sure to share and tag yourself!
Thanks again to our sponsors for helping to make the event a huge success!
Sales of existing single-family Texas homes in October were up 8 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 15,600 existing single-family homes were sold, data showed. The median home price was $147,500, up 2 percent from a year ago, and the state’s overall inventory was at 6.9 months.
Meanwhile, the National Association of Realtors (NAR)Â reported yesterday that, nationally, existing home sales rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.9 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010.
The national median price for existing homes was $162,500, which was 4.7 percent below October 2010.
Talking about the national numbers, Center Research Economist Dr. Jim Gaines said homebuyers continue to be frustrated by stiff mortgage underwriting and appraisals despite favorable buying factors such as low interest rates, sluggish but positive job creation and lower home prices.
“NAR reported contract cancellations at 33 percent in October, meaning that one in three sales contracts failed to close,” Gaines said. “Sales agents should be very circumspect when qualifying buyers for mortgages, rather than being frustrated later because the deal does not close.”
October 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Nov. 21, 2011):
On Monday, Republicans and Democrats agreed to send a measure to vote that would increase the loan limits in certain high-cost areas for loans insured by the Federal Housing Administration. If passed by Congress, the limits reduced back in September would be increased again to help provide more financing opportunity for areas where housing costs are higher on average.
Today’s big news in the mortgage market was the Federal Housing Finance Agency releasing details around the modification of HARP (Home Affordable Refinance Program), an initiative initially created to allow borrowers to refinance and lower payments despite falling home values. The expansion of this program will affect certain borrowers with Fannie Mae or Freddie Mac insured loans. This announcement will not affect borrowers until December, after lenders, servicers and mortgage insurance companies all digest the language and draft lending policies over the next few weeks. Not only will rates improve for certain borrowers, but other borrowers that weren’t eligible to refinance will have options going forward. It will be important to look for information here in the coming days and weeks.
Retail sales in October came in higher than expected this morning and the New York Manufacturing Index shows shipments growing. But this positive economic news was mostly offset by continued concern from the European sector. Investors continue to be concerned that EU nations will be unable to implement austerity measures and generate the capital needed to weather their debt crisis. French, Italian and Spanish bond yields continue to climb and some fear that Italy may be the next to seek talks around a bailout. Recession talks are common for the EU region, with Europe failing to exceed growth expectations in the third quarter. This has led the dollar to strengthen and US Treasury bonds continue as a source for more stable investment. Mortgage rates have maintained fairly consistent and aggressive levels, despite some relatively positive economic news over the past week. The concensus for economic growth in the coming quarters appears to be a modest 2.0 – 2.5% for the U.S. while Europe struggles to remain in positive territory (~0.5%).
As we continue through the remainder of the week, prices paid to wholesalers in October decreased by the most in four months, indicating slower inflation levels. Although this would normally point to a more negative outlook which would lower rates, some consider this more of a correction from higher prices seen as a result of the Japan Tsunami and higher energy prices earlier in the year. Look for the Consumer Price Index, Manufacturing and Housing Starts reports later in the week. Any modest improvements are somewhat expected. If signs point toward another U.S. economic stall, we can expect rates to fall slightly.
NORCROSS, Ga. (Site Selection) –
Texas has claimed the top slot in Site Selection magazine’s “Top Business Climate 2011″ contest.
The Lone Star State finished strong in the objective, data-driven component of the index used to determine the top business climates, as well as in the subjective input supplied by respondents to the magazine’s annual executive survey of site selectors.
One survey respondent commended Texas for being “a pro-business, entrepreneurial, right-to-work state.” Another applauded the state’s tax climate, regulatory environment, incentive programs and work-force development efforts.
Site Selection reported that 40 percent of the new U.S. jobs created since June 2009 were created in Texas. A ranking by NewGeography.com supports that.
That site’s “Best Cities for Job Growth 2011″ rankings look at employment data over time across three population tiers. In the small metros category, Killeen-Temple-Fort Hood placed first, College Station-Bryan third and Midland fourth. El Paso placed first in the midsize tier, followed by Corpus Christi and, in fourth, McAllen-Edinburg-Mission. In the large tier, Austin-Round Rock-San Marcos placed first, Houston-Sugar Land-Baytown third, San Antonio-New Braunfels fourth and Dallas-Plano-Irving fifth.
Those jobs mean demand for office space, another area in which Texas has stood out. Houston, Austin and Dallas finished in the top ten markets nationally in office space demand, according to an analysis by national real estate services firm Cassidy Turley. The firm found those three markets alone accounted for nearly 20 percent of all net demand in third quarter 2011.
“Other markets in Texas are also positive,” said Kevin Thorpe, chief economist with Cassidy Turley. “The U.S. is a mixed-bag story, with many negative markets and many positive markets. In Texas, it’s positive across the board.”
DALLAS (Dallas Morning News) – A recent study by the Dallas Morning News suggests that DFW’s housing market woes may have hit bottom.
According to the study, home foreclosures in the first half of this year were down more than 10 percent from the same period last year, and more than 25 percent from the same period in 2008.
Lenders foreclosed on more than 7,800 DFW homes during the first half of this year, reports Addison-based Foreclosure Listing Service. The total value of those properties was almost $779 million.
Foreclosure rates are highest in places such as Celina, Anna, Princeton, Lavon, Little Elm, Lancaster, Glenn Heights, Forest Hill, Blue Mound and Fate.
D’Ann Petersen with the Federal Research Bank of Dallas said foreclosures bear watching and may remain elevated until there’s sustained improvement in the housing market.
“The housing market is still wobbly, but it does appear to have reached a bottom,” she said.
WASHINGTON, D.C. (NAHB) – Nearly a third of the 23 housing markets listed on the October National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) are in Texas.
The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices.
Texas markets making the list were Amarillo, McAllen, Midland, Odessa, Sherman, Waco and Wichita Falls.
“While Pittsburgh and New Orleans remain the two largest improving markets, the October IMI is heavily weighted by smaller cities in which energy and agriculture are the primary economic drivers and where the effects of the recession have been less pronounced,” said NAHB Chief Economist David Crowe. “In particular, Texas stands out for its seven entries on the improving markets list.”
Last month, only 12 housing markets nationally were listed in the index.
This is an outstanding opportunity to own a meticulously maintained home in a quiet enclave of newer homes built in cul de sacs near Preston Hollow. Excellent schools, shopping and restaurants are all nearby. Open floor plan with soaring ceilings and loads of windows surround large patio. Large Master Suite and Guest-In Law at opposite ends of first floor + office. Great flow throughout. Tons of Storage. Bedrooms Up each have private bath and much more!
*rooster not included
master sitting area
master bedroom
2nd Master Bedroom
View more photos (yes, more!) and set up your appointment via Kevin’s Website
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This week at the corporate office in Chicago, we got our first taste of cold weather. As we begrudgingly pulled out jackets and froze our toes while trying to get the most out of our summer shoes, we all began to focus on fall preparations. But there’s much more that can be done in fall than just putting away our summer clothes, it’s also a perfect time for some home renovations. Here are some ideas to prep your home for the cold weather.
After all that barbequing this summer, your deck might be looking a little rough. After you put away your patio furniture for the season, power-wash the deck with a pressure washer to dislodge any dirt stuck in the wood. It’s also a good time to reseal your deck if you use a sealant or stain, just make sure it’s a warm day with no chance of rain and start early!
Uninsulated plumbing lines in unheated spaces require a lot of power, since the water heater has to work harder to heat the water. It can also cause pipes to freeze and burst if temperatures dip below the freezing mark in the winter. Foam wrap can be purchased at any home improvement store, which can be used to wrap all exposed pipes to save on energy as we get into the winter months.
Cleaning out the roof gutters after the leaves fall will save you the hassle of ice dams that can damage a roof in the winter. Blow out the gutters with a leaf blower or hose. Check for any other damages to the gutters as heavy snow will make them worse.
Check all exterior doors to make sure that they’re well insulated and that there are no gaps or cracks between the doors and frames to let heat escape.
Fall days are the perfect temperature for indoor painting in comparison to summer’s humidity and winter’s lack of ventilation. Open up windows to create a breeze to both reduce the paint smell and dry the walls quickly.
