DFW

HomeCity's blog articles that are relevant to the Dallas/Fort Worth metroplex.

Happy New Year! It’s now time for new homeowners to prepare to file their Homestead Exemption. If you bought a home in Texas in 2017, you have until April 30th to file for a residential Homestead Exemption. We have provided you with 6 Tips on how to file your 2017 Homestead Exemption, see below. 

  1. What is a Homestead Exemption?  An exemption from property taxes that homeowners can claim. 
  2. What does the Homestead Exemption do?  Homestead Exemptions remove part of your home’s value from taxation, so they lower your taxes.  *For example, if your home is appraised at $35,000, and you qualify for a $15,000 exemption, you will pay taxes on the home as if it was worth only $20,000.
  3. What type of property qualifies for this exemption?  Your
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The facts of residential real estate have remained consistent in 2017. In year-over-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year. New Listings were up in the North Texas region 4.1 percent to 9,318. Pending Sales decreased 4.6 percent to 7,224. Inventory grew 1.0 percent to 24,651 units. Prices moved higher as Median Sales Price was up 5.5 percent to $242,500. Days on Market increased 6.8 percent to 47. Months Supply of Inventory was down 3.7 percent to 2.6 months, indicating that demand increased relative to supply. New tax legislation could

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For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers, according to NTREIS. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales. New Listings were up in the North Texas region 6.7 percent to 11,359. Pending Sales decreased 3.6 percent to 8,144. Inventory grew 3.7 percent to 26,631 units. Prices moved higher as Median Sales

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According to NTREIS Stats every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving. New Listings were up in the North Texas region 4.1 percent to 11,829. Pending Sales decreased 6.8 percent to 7,980. Inventory grew 4.3 percent to 27,352 units. Prices moved higher as Median Sales Price was up 6.7 percent to $240,000. Days on Market

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June 2017 housing market statistics DFW

Home prices across the U.S. are reaching all-time highs, prompting worry over another boom-and-bust scenario like we experienced roughly ten years ago. Yet, as we glance across the state of residential real estate, what is clear compared to the last extended run of price increases is that lending standards are now much stronger than they were before. Incomes must be verified, a reasonable amount of money must be paid toward the home prior to purchase, and a more stringent loan approval process is in place to prevent a repeat performance of the Great Recession.

Unfortunately for DFW area millennials, the Dallas Morning News reports that “the average millennial in Dallas would have to save for 10.4 years in order to to afford a down payment on a

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mowing the lawn

Texas Summers can get downright miserable, upwards of 100 degrees and humid. It’s not uncommon to see lawns suffering in the dead of summer, especially during times of drought. While we’ve been pretty lucky with the amount of rain received lately, it’s never a bad idea to begin preparing your lawn early for the harsh summer ahead. We caught up with lawn care expert Jake Hill from LawnStarter Lawn Care, who shared his tips and best practices for keeping a healthy lawn all year round. 

 

Summer lawn care begins in the spring. Jake advises that about once every other year, homeowners should aerate their lawn to alleviate soil compaction and thus allow their lawn to breathe. “Just like a person – grass needs air, food, and water to survive (and the

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gourmet margaritas with lime and orange

 

Cinco de Mayo is coming up, and you know what that means. Tacos and margaritas galore! There are ton of places around the Dallas/Fort Worth Metroplex to get delicious Mexican food and dance the cumbia, but for this article, we’re focusing on those delicious, salty, tangy, tequila-filled margaritas!

 

So where do you find the best in the Metro? We’ve got you covered!

 

1. Joe T Garcia’s (Fort Worth) – Joe’s is famous for their outdoor seating and family-style dinner. For Cinco de Mayo, ordering a pitcher of margaritas and relaxing on their massive outdoor patio is a must. Guests can enjoy their authentic Tex-Mex offerings and listen to the live mariachi band that often plays. For those in Fort Worth looking for a more authentic

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home improvements that add property value

When preparing to sell your home, or simply trying to give it a facelift, it’s common to wonder what updates will provide the most return on investment. Which improvements or additions will add to your home's property value and equity? After all, if you’re going to put in the money to improve your home, you will want to know that your efforts could provide a return in the long run.

It’s smart to be thinking about the future equity of your home, and these are questions our agents here at HomeCity get asked a lot. There is no one, go to upgrade that will work in every situation and with every budget. However, here are some of our top suggestions – straight from the experts themselves!

Upgrade the kitchen and bathrooms. Remodeling the kitchen and

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Written By: Katie Bassett

 homeowners association fees

Gated communities with sparkling swimming pools and band new gym equipment. Walking trails, playscapes, and community events. Amenities like these are desired by many and found in condominiums, townhomes or planned developments across the country. While services vary based on where you live, one thing will be forever present if you are looking for a community home – a homeowner association (HOA) fee. A monthly or annual payment in return for the upkeep of a property, the HOA fee might cover some of the finer things in life like an exotic landscaping, a clean pool or a new gym.

Conflicting opinions run rampant regarding HOA fees, but trends over the past decade indicate a steady incline, which is alarming to everyone

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advice from a real estate tax expert

It’s tax time again, which means that most people are gathering their documentation and counting their deductions. However, many people, homeowners, and investment property owners especially, don’t realize that they could be saving much more money than they are currently. Property owners are afforded all sorts of tax breaks and incentives that can sometimes be overlooked by those who are not 'in the know.' In many cases, employing the help of a CPA rather than doing your taxes yourself can garner a much larger tax return. We caught up with Brandon Hall from The Real Estate CPA to learn a little bit more about homeowner tax advantages, investor tax incentives, and why employing a CPA is a smart move. 

 

Now, you might be wondering, why are there

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