Homecity blog

July 2016 Dallas Housing Market Update

Supply continues to struggle to meet demand in the DFW area as we hit the mid-year point of 2016. Residential real estate markets are performing as predicted, with the supply of inventory dwindling in this seller’s market. The market is becoming increasingly competitive as buyers attempt to find the best deals in the most desirable areas. Sellers have been getting a higher percentage of their asking price, which is encouraging further growth. 

According to the latest report from North Texas Real Estate Information Systems (NTREIS), new listings were up 1.5 percent in June 2016 to 14,023. Prices also moved higher with an 8.8 percent increase to $236,000. For comparison, at this same time last year, the median sales price in the DFW area were at

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2016 Mid Year Housing Market Update Infographic

Population growth and housing demand have driven home sales and prices up in the first half of 2016. We’re set to outpace 2015 if things keep up the way they have been going, and that’s saying something. 2015 set records for home sales and home prices continue to rise. The Austin Board of Realtors (ABoR) recently release their market statistics which outline statistics for not only Austin proper, but all of the surrounding counties, and the Austin-Round Rock Metropolitan Statistical Area (MSA) as a whole. 

In the report, ABoR states that single-family home sales in the MSA rose 6.1 percent in the first half of 2016 to 14,482 home sales. The median price rose seven percent year-over-year to $282,000. Comparatively, home sales in Austin proper

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should i rent or buy a home

A home is one of the largest purchases one will make in their lifetime and is often a huge commitment. Where you are in life will determine whether or not it makes more sense to buy or continue renting. There are pros and cons to each choice, but weighing your options is the best way to determine which is more beneficial for you, and this could help you save money in the long run.

Upfront costs: Buying a home entails numerous upfront costs, many more than renting. Sometimes these can be wrapped into your mortgage payment, and there are programs such as FHA loans and USDA loans that offer low or no down payment loans. However, more often than not a homebuyer should be prepared to pay a few things.

  • Earnest Money: This is usually about 1 to 3%
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Blue Hole Park, Georgetown, Texas

Dubbed the Fastest Growing City in America by the U.S. Census Bureau in 2016, Georgetown is becoming a very popular place to live. It was named one of the Best Places to Live and Launch by CNN Money and is known for having one of the most beautiful town squares in Texas. As Austin grows, locals, entrepreneurs, families, and seniors are choosing to move to the suburb, which is located 26 miles north of the state Capital. Access to fun activities and amenities is always a concern, and ‘entertainment’ isn’t exactly the first thing to pop in our head when we think of Georgetown. However, there are actually a ton of activities available now-a-days, from nature parks to shopping and dining, to splash parks and playscapes. We’ve curated some of our favorites

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condos vs townhomes

Lately, we’ve been noticing a lot of clients asking about the difference between townhomes and condos. They have been weighing their options and wondering how purchasing a condo differs from a townhome. Both of these are distinct parts of a larger property, with areas set up for private habitation and several shared or community spaces. The real differences between the two lie in the type of ownership, the fees associated, and the amenities included, rather than the layout of the property. So what are the advantages vs. disadvantages, what are the differences? We’ll do our best to explain.

Ownership: A condominium describes a type of ownership. One significant difference between condos and townhomes is that with condominiums, homeowners own the

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June 2016 Housing Market Statistics

The DFW area continues to see competitive sales activity into the second quarter, as predicted by many economists. It’s definitely a seller’s market, with homes selling quickly, and many times with multiple offers (at or above asking price)! However, The Dallas-Plano-Irving MSA ranked in the bottom ten housing markets (by Nationwide Insurance) in terms of overall health, mainly because it’s too hot! The shortage of properties and rising home prices are worrisome to many.

Conversely, North Texas Real Estate Information Systems (NTREIS) recently released their market statistics saying that “Although inventory is still being stretched thin in many areas, low mortgage rates coupled with higher wages have built a relatively sturdy housing marketplace.”

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It’s officially summer, and the kids are out of school. This means parents are looking for new, fun, and exciting things to do as a family. The Dallas/Fort Worth area has abundant activities that are family-friendly, and many of them are wallet-friendly as well. There are outdoor activities such as parks, water activities, and sports games as well as indoor options for the days it’s just too hot to be outside. Here are some of our favorites, in no particular order!

1. Visit White Rock Lake: Located in northeast Dallas, White Rock Lake is a reservoir that’s surrounded by lush landscape. Locals and visitors alike enjoy kayaking and canoeing, playing with Fido at the dog park, exploring the hike and bike trails, or visiting the nearby Bath House

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While single-family home sales have jumped across the Austin-Round Rock Metropolitan Statistical Area (MSA) in May 2016, we saw the biggest jump in Williamson County. The Austin Board of Realtors (ABoR) recently released their real estate market statistics, citing huge gains in the area. 

Williamson County’s population is less than half that of Travis County, yet only 424 more single-family homes were sold in Travis in May 2016. Home sales in Williamson County rose 19.5 percent year-over-year to just over 1,000 homes sold. 

The number of people moving to Williamson County is likely due to the continually rising costs of homes in Austin-proper. Homebuyers, especially those looking for a price point of under $500 thousand, are moving outwards to

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The first rule of real estate is ‘location, location, location’. You’ve no doubt heard that phrase thrown around by REALTORS® in shoulder pads since the 80’s. If you aren’t sure what location is right for you, though, how can you determine which area to choose? Is there a secret guide to finding the perfect place or is it all about research?  Unfortunately, there isn’t just one simple answer, but we’ve put together some guidelines to help you figure out the right location for you and your family!

First, you’ll want to create a list of what you want in an area. Consider which items are deal breakers, and which would simply be nice to have. Things like home cost are a no-brainer to consider, ensure that you can afford not only the home cost but

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zoning laws regulations and ordinances


Zoning Laws in Texas

Austin, Dallas, and Houston, the three most recognizable cities in Texas, all a part of the “Proud Texan” heritage but after that, the similarities seem to end. You can search all day and find people arguing over which city you should live in, sometimes people even throw in San Antonio (technically the second largest city in Texas), but all over the internet, you’ll see the same old arguments for each city. HomeCity is unique in that we specialize in real estate for both Austin & Dallas, and while you may find some of us arguing the finer points of Cosmopolitan vs. Community the one thing we both seem to agree on is that Houston has completely forgotten is zoning. While Houston may have abandoned zoning almost completely,

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