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.

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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.

 

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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.

 

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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.

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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

Starvoice • 05.27.11

By Jack Fertig

CELEBRITY BIRTHDAY

Heidi Klum turns 38 on Wednesday. The model turned TV host and producer changed the way we look at the fashion world with her very popular Project Runway. Because of the show, some gay designers have gone to be stars of their own like Austin Scarlett, Santino Rice and season four winner Christian Siriano. A Runway all-stars is apparently in the works.

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THIS WEEK

Mercury squaring Neptune in Pisces while entering Gemini inflates wonderfully imaginative notions. Jupiter entering Taurus could ground them and find profitable applications. Jupiter in Taurus for the next year should_ be good for the economy. It will be good for bankers at least.

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GEMINI May 21-Jun 20
Get creative. You have big challenges in the next year. Your intuition is now unusually sharp to see how you can turn those into opportunities. Spiritual guidance can be especially helpful now.

CANCER Jun 21-Jul 22
Dreams lure you too easily into never-never-lands of fantasy and escape. Sharing some of those phantasmagorical reveries with friends can help you find some practical outlet for them.

LEO Jul 23-Aug 22
Remember the difference between dreams and goals. Friends encouraging you to chase after your dreams offer helpful inspiration, but don’t let them distract you from practical aims.

VIRGO Aug 23-Sep 22
Your brain is buzzing with schemes for success. Your partner encourages all your wildest ideas. Not. You need a leveler head with a bit of critical distance to give you pragmatic advice.

LIBRA Sep 23-Oct 22
Expansive, fortunate Jupiter is starting a year in your house of sex. The deeper you go the greater the rewards. Don’t be shy. Neither is without risks, but Jupiter is good to have on your side.

SCORPIO Oct 23-Nov 21
You and your sweetie are due for some frolic. That could open up some questions and confusion. Keeping communications clear is a small challenge. The rewards are well worth it.

SAGITTARIUS Nov 22-Dec 20
Job opportunities open up for you. Have faith in yourself. If familial encouragement is unrealistic, don’t worry about letting them down for what’s in the real world. If you’re happy, they are too.

CAPRICORN Dec 21-Jan 19
You’re way too open to distractions and thus, accidents. Mediation, poetry, music or art will get you back in balance. Take classes in any of those . You need new ways of seeing the world.

AQUARIUS Jan 20-Feb 18
Struggle between your deepest desires and economic necessity feels brutal. A light, playful conversation with your partner  can help you find a way to afford your dreams, or find reconciliation.

PISCES Feb 19-Mar 19
Whatever you have to offer, make it heard and known. Your family will back you up in your endeavors, but you really need to be very clear on who you are and what it is you’ve got.
ARIES  Mar 20-Apr 19
Your recent lucky spree will focus more on financial fortune. Mad dreams and inspirations offer some clues. Talk out your crazy notions with friends and find a way to bring them to the bank.

TAURUS Apr 20-May 20
Recent hard times turn around. Cash in on your good fortune. Turn your friends’ suggestions into practical ideas. Inspirations now point the way to future fulfillment of your dreams.

Jack Fertig can be reached at 415-864-8302 or Starjack.com

This article appeared in the Dallas Voice print edition May 27, 2011.

—  Kevin Thomas

Starvoice • 04.29.11

By Jack Fertig

CELEBRITY BIRTHDAY

Lesley Gore turns 65 on Monday. Much has changed in music since singer Lesley Gore recorded her biggest hit “It’s My Party” back in 1963. But maybe it was Gore who “changed” the most. The iconic singer came out as lesbian in 2005 and stated she knew in her late teens that she was attracted to women. Now we have to go back and listen to all her lyrics again.

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THIS WEEK

Uranus, newly in Aries, cranks up spontaneous individualism and assertion. The sun is in Taurus, semi-square to Uranus provoking a lot of stubbornness. Don’t challenge others with an uppity, obstinate attitude; look for creative new ways to show loyalty and resilience.

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TAURUS  Apr 20-May 20
Life’s tough blows have been piling up, but don’t let it give you piles. Much as people depend on the solid, reliable you, you need to be able to let it out and lean on someone else.

GEMINI  May 21-Jun 20
Your friends are only human. Don’t take disappointments to heart. Cutting off communications is a big mistake, but so is over-talking the problem. A short break may be best.

CANCER  Jun 21-Jul 22
Your friends’ ideas fare too much from the heart, not enough from the brains. Going along with them could hurt your rep and your wallet. Thank them for their ideas and change the subject.

LEO  Jul 23-Aug 22
In your ideal relationship you’re the star married to your agent or manager. That means you can’t always be the boss! Arguments are normal but listening remains more important than speaking.

VIRGO  Aug 23-Sep 22
Novel sex techniques are a blast but require some safety. They also open up a lot of suppressed feelings. How well do you know your partner? Just be sure that he or she can be trusted.

LIBRA  Sep 23-Oct 22
You and your mate have a great time exploring kinky new fun. Anything from silk scarf bondage to cattle prods is open to testing. Slow, careful and easy is the best approach, at first anyway.

SCORPIO  Oct 23-Nov 21
You are part of a team and everyone else is as important as you. As much as your special talents do contribute to the team, cultivate humility as one of those talents.

SAGITTARIUS  Nov 22-Dec 20
Argue about movie, art, sports, anything fun or creative; you’re sure to find amazing new ideas. Keep your mind and ears open and respectful of other notions. Be polite with the idiots.

CAPRICORN  Dec 21-Jan 19
Livening up your home life should be a fun creative challenge, not a painful economic one. Unleash your dark side in planning changes, but not in how you treat housemates.

AQUARIUS  Jan 20-Feb 18
Criticism of family, housemates or your community is surprising in its harshness. If you can’t be kind, give your loved ones a break and look for schmucks who deserve your wrath.

PISCES  Feb 19-Mar 19
Financial surprises work your nerves. You need a break. Try something new and different even if it’s just a quiet stroll in a park or country road you’ve never trod before.

ARIES  Mar 20-Apr 19
The cost of living force some choices in how you unwind. Look ahead 10 years and imagine what friendships, talents and skills you’d like to have developed through your hobbies.

Jack Fertig can be reached at 415-864-8302 or Starjack.com

This article appeared in the Dallas Voice print edition April 29, 2011.

—  Michael Stephens

Misogynist Lawrence Summers Leave Obama Economic Advisor Post

Cross-posted at the dramatically consistent Francis L. Holland Blog.

Great news! Lawrence H. Summers, the Harvard University president who in 2005 attributed women's lack of tenured professorships in academia to innate sex differences, and who then somehow went on to become a chief economics advisor to President Obama, is leaving the Obama Administration!   (He also insinuated that Blacks, too, were held back by innate differences, after which Harvard University refused for days or weeks to produce the transcript of his speech.)

As I said at MyDD when President Obama was appointing Summers, and just before I was banned from participation at MyDD:

I suggest that readers personally read and consider Lawrence Summers' public comments for themselves and decide if he, as a member of the Obama cabinet, could treat women equally and promote their careers and opportunities in the same way that he would do for men. 

At the time of the "innate intelligence" controversy, in 2005, the New York Times said, in an article entitled, No Break in the Storm Over Harvard President's Words

At Friday's conference, Mr. Summers discussed possible reasons so few women were on the science and engineering faculties at research universities, and he said he would be provocative.  Among his hypotheses were that faculty positions at elite universities required more time and energy than married women with children were willing to accept, that innate sex differences might leave women less capable of succeeding at the most advanced mathematics and that discrimination may also play a role, participants said. There was no transcript of his remarks.

Is there a correlation between some men believing that women are inherently incompetent to be professors and those same men discovering that they, themselves, are incompent as economics advisors?  It is certainly a possibility because after hundreds of billions of dollars given to banks under Summers' authority, unemployment in America continues to rise, housing defaults continue to rise, poverty is rising, the Democratic Congress seems at risk, and Summers has never even shown a heart-felt expression that he gives a damn.

Now, Summers is losing his tenure, being forced out of his economics-advisor-to-the-President role because of what may arguably be his innate inability to fix the economy.  

Whatever the case, Lawrence H. Summers has become an increasingly heavy albatross around the neck of the Obama Administration and he should leave the White House today, when it would help Democrats at the polls, instead of waiting until December, when he may leave the President with a Republican Congress.

Good riddance!  Let's hope Obama doesn't replace Summers with Dinesh D'Souza.   If Obama brought in Robert Reich (Secretary of Labor in the Clinton Administration) to replace Summers, we might have some new and viable economic policies to announce before the Democrats get clobbered in November. 

Summers hoped in vain that bank bailouts would trickle down to Main Street.  To the contrary, Robert Reich says, "No Amount of Fiscal or Monetary Stimulus Will Be Enough, Given How Small A Share of Total Income the Middle Now Receives."

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—  John Wright