Defining Homes • Ask the EXPERTS

With the economy still in a wicked mess, reports are that the latest trend in homebuying is not buying. Renters are on the rise. But are they? Real estate source Inman reported in January that it is cheaper to buy in the majority of the country’s larger cities. Keith Jurow reported last year on World Property Channel that a Harris Interactive survey found renting a better option. So which is it? We asked locals in the industry how the trends are swaying the Dallas housing market and the frustrations behind them.

……………………

Michael Litzinger

Michael Litzinger
William Davis Realty Uptown

The trend has affected my business significantly. The firm I recently moved to seems to be more in tune with today’s market. Their streamlined, online process requires less paperwork which makes it better for the client, a much quicker turn around for me and better for the environment.

Leasing does move property these days, and I am just glad the industry moves in some fashion whether it’s leasing or selling.

I do think the trend has affected us locally somewhat, but not nearly as severely as in most other areas. I still feel good about the Dallas market.  I know Realtors in other areas that can’t say the same.

Buyers are decreasing to some degree. Even with low interest rates, I’ve had a lot of buyers come to me and then disappear.

 

……………………

Derrick Dawson

Derrick Dawson
Texas Pride Realty

As an active and producing Realtor also working in property management, I’d say the rental trend has picked up significantly, but that doesn’t mean it’s been ideal for property renters/owners or for the multi-family industry. The rental market has been stable but faces some challenges based on broken leases due to financial hardship or unemployment. Many are playing it safe by downsizing or combining rental homes based on economic conditions, being fearful of keeping their jobs and saving for the future.
Today is a buyer’s market and an ideal time to get out of the rent race. The downfall to the buyer’s market that I have seen personally is buyers and investors taking advantage of desperate people in today’s markets, possibly causing detriment to individuals or families in their time of need but also bringing down values in those areas making it harder for others to sell.

 

……………………

Dan Flynn

 

Dan Flynn
Dave Perry-Miller InTown

The trend of leasing over buying has changed the way I preview properties in my area. Leasing is so hot now, I’ve looked at rentals and try to know the different apartment communities close by. Now I am much faster to respond to leasing needs.

I process far more leases to build my future list of clients. I try to educate and prepare them for the buying process down the road. Using a Realtor to find the perfect place to lease makes a lot of sense for those wanting to buy in the future but also for those who don’t really want to do the legwork.

I recently represented a seller who could not sell his property for the amount he was hoping for. Finding qualified buyers in his market and price range wasn’t easy. Another Realtor’s client was interested in leasing the property so

I had to have that conversation with my seller. The seller decided to go with the lease. While sales are still going strong, leasing has increased. While this really is the time to buy, I think all the media attention scares buyers. Potential buyers need to know that the market is stable here and we are one of the cities leading the nation in sales right now.  Go buy a house now or pay more for it later both in price and interest rates.

……………………

Keith M. Thomas

Keith M. Thomas
1111 Apartment Locators

Although the economy has definitely affected us here, it is worse in other areas of the country. Dallas continues to grow and so I feel the trend’s impact on Dallas has been positive.

My company is a fully licensed real estate brokerage company and we handle all residential and commercial real estate transactions yet, our primary business is apartment locating. We want to maintain focus on renters, but we’ve created strategic partnerships with other real estate companies and have a referral program with them. We work closely with our clients to help with all of their real estate needs.

For homes that have reasonable mortgages there is good news. In Dallas, the rental market has significantly gone up, especially from 2010 to present to a  94-97 percent occupancy rate.

Buyers become renters for two reasons: First, they are able to get a nicer home for a lower monthly payment. And second, it doesn’t make sense to buy unless you’re planning to stay. However, buyers are increasing, oddly enough. MetroTex Association of Realtors reported that last August 2010 there were 1,223 properties sold and this August 2011 there were 1,485.

It’s a landlords’ market. Rents are at a premium and good ones go fast. When I show my clients rentals, they want to think about it, I encourage them to act quickly, because the unit is gone within a day or two. Why should homeowners take a loss on waiting for a qualified buyer, when they can rent quickly and hold out for the market to improve?

This article appeared in the Dallas Voice print edition October 7, 2011.

—  Kevin Thomas

GLAAD: Tyler station to pull anti-gay segment; Joel Burns will appear on newscasts Friday

KETK, the NBC affiliate in Tyler, has agreed to remove from its website a segment that aired Wednesday morning in which the station asked viewers whether acceptance of homosexuality will be the downfall of America, according to GLAAD. KETK has also agreed to have openly gay Fort Worth City Councilman Joel Burns appear on its newscasts on Friday, GLAAD said. However, the KTBB 92.1 FM radio host who was apparently behind the segment, Garth Meier, has yet to take responsibility for it.

From GLAAD:

In response to GLAAD’s outreach and community outcry, here’s what KETK plans to do:

–For starters, at GLAAD’s request, KETK has removed from their Web site the eight-minute piece that ran yesterday – the re-airing of the KTBB segment and accompanying video.

–GLAAD pitched Fort Worth City Councilman Joel Burns to do an interview with the station.  Burns, who has garnered significant media attention and praise for his advocacy against anti-LGBT bullying, will appear on KETK newscasts tomorrow to discuss why potentially harmful questions like Maier’s should not be asked – and certainly not broadcast over public airwaves – in the first place.  (Please note that this blog will be updated as more time-specific information becomes available about when you can see Joel on KETK.)

–In addition to Joel appearing on KETK, General Manager Dave Tillery has also responded to our request that he appear on-camera to speak on behalf of the station.  Dave realizes how important it is that the station acknowledge in front of their viewers what they’ve acknowledged to GLAAD over the phone – that a segment like Wednesday’s has no place on the airwaves of a reputable news organization.  Furthermore, Dave plans to acknowledge the potential harm that could be caused by Wednesday’s report and will commit, on behalf of the station, to being more careful in the future.

–Lastly, KETK is rethinking how they will repackage KTBB Talkback content for future newscasts.  KETK General Manager Dave Tillery shared with GLAAD that he will be meeting tomorrow with Paul Gleiser, KTBB’s owner/general manager.

GLAAD appreciates KETK’s response to our outreach.  We applaud their willingness to learn from their mistakes.  We look forward to watching tomorrow’s follow-up and to recognizing the station’s improvement in days to come.

UPDATE: The president of KTBB 92.1 FM has issued an apology of sorts:

The Talkback question that aired on KTBB Radio and was simulcast on KETK NBC 56 television in Tyler on Wednesday, October 27 was unfortunate in its wording and unfortunate in the perception that it created among a large number of thoughtful individuals. The question, “Will the acceptance of homosexuality lead to the fall of America?” is poorly worded at best and inappropriate altogether at worst. For that, we apologize.

There are many issues surrounding homosexuality that are fair game for discussion in the media and in opinion journalism. The proper role, if any, for openly gay individuals in the military, the legitimacy of same-sex marriages and the public behavior by some individuals at gay and lesbian events held outdoors in public view are among topics about which reasonable people may disagree. These and other topics surrounding homosexuality are topics that talk radio hosts and opinion journalists may legitimately pose to their respective audiences.

With that said, the way our Talkback question was posed might be seen as asking, “Do homosexuals, by their very existence, threaten to bring down America?” We believe that such a question, posed in such a manner, is likely to generate more heat than light.

I understand how those who either heard, or heard about, KTBB’s Talkback question on Wednesday might have been offended. For the offense that was taken, we sincerely apologize.

Paul L. Gleiser, President
KTBB Radio


—  John Wright