DFW

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

 

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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2016 was a roller coaster of a year, and 2017 is likely to have some surprises in store as well. There are already changes being felt since Donald Trump won the presidential election, and while this change is unlikely to alter the fundamentals of real estate in the US, we expect there will be more. 

There has already been a slight jump in mortgage rates, although many predictions don’t see them rising above five percent. Even so, that increase in percentage points could mean the difference between being able to afford a home and not – especially for millennials and first-time home buyers. Supreme Lending’s John McClellan, in his 2017 Mortgage Forecast, showed how even a couple mortgage points could add hundreds to a monthly payment.

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It’s that time of year again! Time for new homeowners to file for their homestead exemption! If you bought a home in Texas in 2016, you have until April 30th to file for a residential homestead exemption. A homestead exemption refers to exemptions from property tax that homeowners can claim. 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.

As a homeowner, you may apply for a homestead exemption on your principal residence ONLY. This means the home's owner must live at the home as of January 1st of the tax year, and be an individual (not a corporation or

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dallas housing market stats december 2016

Most people who live in the DFW area know that the North Texas real estate market was hot in 2016. With home sales breaking records, up 13.5 percent from the year prior, this was not your typical November. What you might not know, however, is that several North Texas areas topped Realtor.com’s list of most searched zip codes this year. In fact, every single one of the top ten searched zip codes were in Texas! 

While the very top four searched were in the Waco area (blame the hit cable TV show Fixer Upper for that), the rest were in the DFW Area. Carrollton, Hurst, Bedford, Plano, Dallas, and Arlington rounded out the list, and we can’t say we’re surprised. North Texas Real Estate Information Systems (NTREIS) recently released their latest market

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