Tag Archives: Steve Brown
Now It’s Getting Serious: Realtor’s Group Creates Task Force to Manage Proliferation of Hip Pocket, Non-MLS Sales
That Realtors group would be the North Texas MLS, or NTREIS as we call it. We know our market is hot. Buying a house in some parts of Dallas has never been like this before. There is only about a 3.5 month supply of real estate inventory in the North Texas market as of April. In some neighborhoods, there is even less. (Normal is more like 6 months.) Buyers are in competition against other buyers to snag a home. And so, things are getting gritty.
No Duh: Dallas & Fort Worth Home Prices Firming Up, Heading Up, Thumbs Up, Less Inventory, Pricier, Dirt is Solid Gold Again?
I think we’ve been saying this in so many words for a few weeks: our market is doing better, much better, and now even Steve Brown my “Debbie Downer” NAREE colleague at the Dallas Morning News is paying attention: He’s even saying our homes (all of them?) may soon cost more: Continue reading
I am hearing it from agents and sellers, I am hearing it from appraisers and title companies: people are buying homes again (like these) in Dallas. Numbers are the proof: The Texas Association of Realtors said Tuesday that home sales in the state were up 12 percent in the first quarter from the same period in 2011. You know what happens when homes start selling: you get comps, and then prices creep up. Statewide, median home prices in the state were 3 percent higher than a year ago.
Reserve Set for 48,000 Square Foot Champ D’Or Auction on March 30: Welcome to The Chopping Block of Dallas Real Estate News
I see Steve Brown now has the Champ auction story up behind the Dallas Morning News pay wall, which I subscribe to. Nothing new in his report except that the auction house handling the sale once sold one of Cher’s $8.7 million Hawaiian homes. (See what that means.) Meantime, here’s the website for the auction. I have been placing a lot of office bets with people on what the reserve price will be — that is, the seller’s bottom line price. Looks like it is $10.3 million. And for your viewing pleasure, here’s the video Ebby Halliday made when Greg Cagle had the listing: Cinderella parties! Continue reading
Victory’s The House by Phillipe Starck May Be Heading to Biggest Residential Foreclosure in Dallas History
Separating Distressed from Non-Distressed Properties, Home Prices Not So Slumpy: Dallas Real Estate News
View more videos at: http://www.nbcdfw.com.
Here’s part two of my KXAS gig over on Nonstop Nightly. The summer has not been kind to Dallas real estate prices, and now we have a guy in Flower Mound who thinks he can snag a home for a filing fee: welcome to the crazy world of real estate, the pot further stirred up by last week’s Debbie Downer Case Shiller report. One of the most important things I want to stress is that our market suffers from bad vibes when Case Shiller lumps all these reports together. Or, for that matter, Steve Brown: “Dallas prices down 4.7%.” Something you have to understand about Case Shiller: it mixes the foreclosure inventory in with it’s data and excludes new construction. Personally, I don’t think it’s all that reliable. It’s like mixing wholesale and retail prices — distressed properties are a different ballgame, a different product. Blue chip real estate tends to hold value longer, and spring back first. Distressed properties are not blue chip real estate. I like a Santa Ana, CA based company called CoreLogic because they separate out the distressed data from non-distressed when they report sales and home values, and guess what — it makes a huge difference.
I love the way the Fort Worth Star Telegram started this story:
”New-home sales in Dallas-Fort Worth continue to decline, according to the latest quarterly market report from Metrostudy, released Wednesday.”
Actually, I don’t love it. I think it stinks. Of course NEW home sales declined. Of course builders closed sales on only 3,505 new homes from April to June 2011, more than a quarter (26 percent) less than they closed second quarter of 2010. Remember this thing called the First-Time Homebuyer’s Credit?
Dallas Realtors, for the most part, call Steve Brown negative Nellie. He knows this, and almost delights in it. But I’m a little concerned he went too far in his latest story that shouts out “For Home Sellers, It’s Getting Tougher in Dallas.” First of all, this story will get on a Google feed and come across the screens of editors all over the US. It will get jumbled with Sunday’s piece in the New York Times on how dismal the Seattle market is doing – PMI Mortgage Insurance thinks Seattle real estate may drop another 11 percent. Zillow, which is based in Seattle, says home prices there are down about 31% from the 2007 peak. Real Estate there is as depressing as the weather.