Watkins Talk - The Real Deal on Real Estate

SURVEY SAYS: APARTMENTS 2012 TOP INVESTMENT

Here's a great article for my investment clients.  I have some clients who are doing really well on our multifamily investments these last few years.  I agree this is a great place to invest in order to maximize returns.  As always, it does depend on location and terms!  Please reach out if I can help you or anyone you know capitalize in this market.

HOUSTON (realtynewsreport.com) – Where will investors be putting their money next year? Multifamily properties, according to a recent 2012 outlook survey conducted by Jones Lang LaSalle.

Survey respondents said rising rental rates and declining home ownership rates suggest strong apartment investment activity in the coming year.

And take note, Dallas: When asked where in the United States they would be most likely to invest next year, respondents ranked Big D among the top five cities, beating out New York City and Washington, D.C.

On the flip side, they said Houston was one of the five cities in which they'd most likely sell properties.

The survey was completed by more than 150 private investors, real estate brokers, developers, REIT and institutional investors.

State Fair Discounts

Here are some ways to save.. 

Opening Day September 30, 2011: Bring a 20 oz. bottle of Dasani water (or any Coca-Cola product) for donation to the North Texas Food Bank containers at Fair admission gates and get in for $5 per (per donation) per person.

Any Day: McDonald's offers $4 off General Admission with one of their State Fair coupons (available on tray liner or bag stuffer) any day of the Fair. A free child ticket (with purchase of general admission) coupon is also distributed by McDonald’s. Offer may not be combined with any other offer.

Dr Pepper $5 after 5: Any day after 5 p.m. Bring an empty Dr Pepper can and enter for $5 after 5 p.m.

Dr Pepper $4 Tuesdays: Every Tuesday during the 2011 season, bring an empty Dr Pepper can and enter for $4. Most rides (excluding the Thrillway and the Texas Star) are 5 coupons.

Kroger $2/Can Food Drive Wednesdays: Any Wednesday admission is $2 for each visitor bringing 3 cans of food for area food banks.

Coke $5 Thursday: Bring an empty 20 oz. bottle of a Coca-Cola product and enter the Fair for $5 admission.

Cinemark Free Thursday Admission: Bring a Cinemark Theater ticket stub and get free admission on Thursdays.

Seniors Day: Senior citizens (age 60 and over) may enter for free every Thursday during the State Fair of Texas: September 30, October 7 and 14, 2011.

Dickies Day: Thursday, October 6, 2011. Anyone wearing a Dickies logo clothing item will receive a free voucher for admission to the Fair on same day.

DFW - Second Strongest Employment in Nation!

 

DALLAS (Dallas Business Journal, Austin American-Statesman, San Antonio Business Journal, San Antonio Express-News) – By all accounts, Texas is holding firm when it comes to job creation.

Just days after the Real Estate Center's latest review of the Texas economy found that the state as a whole gained 133,100 jobs during the year ending in August, the Dallas Business Journal reported that Dallas-Fort Worth-Arlington posted the second strongest employment gains in the last year in the nation.

That market gained 28,700 jobs betwen August 2009 and August 2010 — a 1 percent increase — making it second only to New York City.

But DFW isn't the only Texas metro with good news this week on the employment front.

The Austin American-Statesman reports that Progressive Group of Insurance Companies will hire 175 more workers at its Austin contact center in January.

Meanwhile, in San Antonio, Christus Santa Rosa Health System will employ about 100 at its planned $25 million surgical specialty hospital on Treeline Park. In addition, Allstate Insurance Co. plans to hire at least 100 bilingual employees over the next month at its local customer information center, and West Corp. will expand the full-time workforce at its Universal City office by more than 500.

DON'T MISS THIS - 2010 School Ratings - Where Does Your Child's School Stand?

Check out the newly available 2010 School Ratings report!!!  Find out exactly where your neighborhood schools stands against others.  This detailed report goes through a range of scores and ratings for all DFW school districts including:  SAT and ACT scores, TAKS results, detailed explaination of rating categories and charts.  This report also contains a list of private schools as well as colleges and univerisities in the DFW metroplex.

Download 2010 School Ratings

Collin County Real Estate Market Skyrockets

The Collin County Association of Realtors reports that new home listings in March in Collin County and surrounding areas jumped to their highest level in two-and-a-half years. In addition, last month proved to be the best month of March the area has seen since 2005.

“These dramatic improvements in the local real estate market indicators are really exciting, especially when we are still hearing horror stories about real estate activity from other parts of the country,” says Steve Haid, CCAR member services director. Read more

Real Estate Sales Soar in Collin County

October sales of homes in Collin County and surrounding areas are projected to be 23 percent higher than in October 2008, reports the Collin County Association of Realtors (CCAR). In addition, "under contract" listings also increased by 27 percent from a year ago.

"This is a tremendous rebound for real estate sales in this area, especially for this time of year," says Steve Haid, CCAR member services director.

The CCAR Pulse, which delves into the real estate markets of 36 local communities, also reports that the time it took to sell a home in October decreased 8.2 percent from 100 days a year ago to 92 days.

Year-to-date, median sales price is approximately 1 percent less than the same time last year, which is mostly due to the large number of sales of foreclosure listings.

"As we continue to absorb the large number of lower-priced foreclosure properties that were listed earlier in the year, we can expect those sales to continue to impact the overall median sales price," notes Haid. "However, sales prices have held pretty steady because the prices of non-foreclosure listings has increased and offset the impact of the foreclosure sales."

In addition, buyers continue to enjoy record low mortgage interest rates and very affordable homes. In fact, the Housing Affordability Index is up 18.4 percent over the same time a year ago. This means that most people in this area could afford to purchase the median priced home -which is not the case in many other parts of the country.

Collin County and surrounding areas remain in an overall balanced market, as has been the case all year. However, there is a shortage of homes priced below $200,000 and an oversupply of houses priced above $500,000.
 
"Overall, we are enjoying a strong rebound in our local market," says Haid. "Closed sales and homes going under contract are very brisk for this time of year. And, homes in the area are very affordable with low mortgage interest rates. These are the right ingredients for a strong local real estate market."

FREE FOOD!!

http://enews.ntta.org/DrivingForward/November2009/LaMadPromoNov2009DF

La Madeleine congratulates the NTTA on the opening of the newest portion of the Sam Rayburn Tollway.   To celebrate, La Madeleine invites you to visit any of their Dallas/Fort Worth-area restaurants for a free petite salad or cup of soup.

Just print this offer and present it on your next visit.  The offer expires Nov. 15, 2009. 

The offer is good for one time use only, and it is not valid with any other offers. The offer is of no cash value, and it is valid only at participating D/FW area locations. One offer per person, per visit. © 2009 La Madeleine de Corps, Inc.

New Texas Laws - Do you know them?

Download Pr081109

Centennial/Westmount Joint Venture Signs Anchor Tenant for Plano’s Spring Creek Crossing

 Entry of 99 Ranch Market to north Texas kicks off major redevelopment

of the well-located center.

 
DALLAS – July 17, 2009 – Dallas-based Centennial Real Estate Company, LLC, in joint venture with Westmount Realty Capital, LLC. signed anchor tenant 99 Ranch Market – one of the country’s largest Asian-concept grocery chains – to a 60,000 square foot lease, marking the launch of a significant redevelopment project for Spring Creek Crossing, located at the northwest corner of Spring Creek Parkway and North Central Expressway, one of Plano’s most highly-trafficked corners.

 99 Ranch Market’s first store in the Dallas-Fort Worth area will encompass 60,000 square feet and serve as the shopping center’s anchor. The California-based supermarket’s stores are largely concentrated on the West Coast, but the company is expanding into Texas by opening this Plano location while concurrently opening a store in Houston.

 “Through a very competitive process, we were able to secure the perfect anchor tenant for our project,” said Steven Levin, president of Centennial Real Estate.  “There are many centers 99 Ranch could have chosen, but Spring Creek Crossing’s dominant location and high visibility won them over.”

 “Importantly, this transaction also allows us to kick off our redevelopment project, including re-naming the center 99 Ranch Marketplace,” Levin added.

 A joint venture between Centennial Real Estate and Westmount Realty Capital acquired the 145,000 s.f. Spring Creek Crossing in 2007 when Albertson’s was disposing of real estate assets throughout north Texas.  The center’s redevelopment will include a substantial upgrade that will completely alter its look.

 “We will bring the center up to the quality of the surrounding area, since this is the last corner of the intersection to be redeveloped,” noted Levin.

 Under Centennial and Westmount’s ownership, the project’s first new activity was the construction and opening in winter 2008 of a full-service, Chase bank with a drive-through.

 John Zikos and Bryan Cornelius of Venture Commercial Real Estate represented the ownership in the 99 Ranch Market deal.

How is the Economy? Do you know your numbers!!

The only way to know where a market is heading is to become a local economist.  You can not rely on the media!  Real estate is localized and the media reports national news.  Even when they do report DFW numbers, they use crazy sources and combine areas they shouldn't.  You can not compare South Oak Cliff to Plano in regards to Days on Market, Median Price, Inventory, etc...  I could go on but I hope my clients get the point.  We analyze down to the subdivisions level and look at a lot of other factors to determine where to start our searches... 

Here are some numbers which you can use to guage where the market is headed.

The listings in Plano in March were 1134 and in April were 1157.  The days on market dropped from 67 days to 63 days.  However, Inventory increased by two months.  A lot of houses are "on the market," but not "In the market."  The nice ones which are priced well are moving fast!  (I run numbers for many areas but can't post them all.  Call me for yours.)

Unemployment -

We are at 9% up from 8.9% as a nation.  Texas is 6.7 % while Dallas-Plano-Irving is at 7.1% unemployment.  We were around 4.4% this time last year so this is obviously not good news. 

Housing Starts -

As a nation, 150,000 were filed by this time last year.  This year is almost half at 80,000.  DFW has 2,700 starts YTD down from last years 4,700 during the same period.

Sales

National Sales are up 29% from last month.  53% of these are first time home buyers.  Why is this?  FREE MONEY!!!  (call me to explain further) Plus, housing is back in line w/ 2003 prices.  It's the most affordable it has been in 30 years.  The national median price is now $175,000.  This is good news and is causing a lot of buyers back in the market.  Add this w/ really low rates and it's perfect timing!  It's also an excellent time to move up.

As always, if you know anyone looking to buy and sell, plz call me with their name and number and I will take excellent care of them.  We will sit down and break apart these numbers, so they can capitalize on this incredible market.