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

Texas: A not-so-great state

As Perry eyes the presidency and Dewhurst makes a bid for the Senate, let’s look at the story the numbers really tell

Phyllis Guest | Taking NoteGuest.Phyllis.2

It seems that while David Dewhurst is running for the U.S. Senate, Rick Perry — otherwise known as Gov. Goodhair — is planning to run for president. I wonder what numbers they will use to show how well they have run Texas.

Could they cite $16 million? That’s the sum Perry distributed from our state’s Emerging Technology Fund to his campaign contributors.

Or maybe it is $4.1 billion. That’s the best estimate of the fees and taxes our state collects for dedicated purposes — but diverts to other uses.

Then again, it could be $28 billion. That’s the last published number for the state’s budget deficit, although Perry denied any deficit during his last campaign.

But let’s not get bogged down with dollar amounts. Let’s consider some of the state’s other numbers.

There’s the fact that Texas ranks worst in at least three key measures:

We are the most illiterate, with more than 10 percent of our state’s population unable to read a word. LIFT — Literacy Instruction for Texas — recently reported that half of Dallas residents cannot read a newspaper.

We also have the lowest percentage of persons covered by health insurance and the highest number of teenage repeat pregnancies.

Not to mention that 12,000 children have spent at least three years in the state welfare system, waiting for a foster parent. That’s the number reported in the Texas-loving Dallas Morning News.

Meanwhile, the Legislature has agreed to put several amendments to the Texas Constitution before the voters. HJR 63, HJR 109 plus SJR 4, SJR 16, and SJR 50 all appear to either authorize the shifting of discretionary funds or the issuance of bonds to cover expenses.

Duh. As if we did not know that bonds represent debt, and that we will be paying interest on those bonds long after Dewhurst and Perry leave office.

Further, this spring, the Lege decided that all voters — except, I believe, the elderly — must show proof of citizenship to obtain a state ID or to get or renew a driver’s license. As they did not provide any funds for the issuance of those ID cards or for updating computer systems to accommodate the new requirement, it seems those IDs will be far from free.

Also far from free is Perry’s travel. The Lege decided that the governor does not have to report what he and his entourage spend on travel, which is convenient for him because we taxpayers foot the bill for his security — even when he is making obviously political trips. Or taking along his wife and his golf clubs.

And surely neither Rick Perry nor David Dewhurst will mention the fact that a big portion of our state’s money comes from the federal government. One report I saw stated that our state received $17 billion in stimulus money, although the gov and his lieutenant berated the Democratic president for providing the stimulus.

And the gov turned down $6 billion in education funds, then accepted the funds but did not use them to educate Texans.

The whole thing — Dewhurst’s campaign and Perry’s possible campaign, the 2012-2013 budget, the recent biannual session of the Texas Legislature — seems like something Mark Twain might have written at his tongue-in-cheek best.

We have huge problems in public school education, higher education, health care, air pollution and water resources, to mention just a few of our more notable failures.

Yet our elected officials are defunding public education and thus punishing children, parents, and teachers. They are limiting women’s health care so drastically that our own Parkland Hospital will be unable to provide appropriate care to 30,000 women.

They are seeking a Medicaid “pilot program” that will pave the way for privatized medical services, which will erode health care for all but the wealthiest among us. They are fighting tooth and nail to keep the EPA from dealing with our polluted environment. They are doing absolutely nothing to ensure that Texas continues to have plenty of safe drinking water.

They are most certainly not creating good jobs.

So David Dewhurst and his wife Tricia prayed together and apparently learned that he should run for Kay Bailey Hutchison’s Senate seat. Now Rick Perry is planning a huge prayer rally Saturday, Aug. 6, at Houston’s Reliant Stadium.

God help us.

Phyllis Guest is a longtime activist on political and LGBT issues and a member of Stonewall Democrats of Dallas.

This article appeared in the Dallas Voice print edition August 9, 2011.

—  Kevin Thomas

Light a Fire tonight at The Mac

Time to light a fire under people

When a group of friends came together to take a stance against bullying, Light a Fire was born. Now they hope to encourage many others to continue to raise awareness and educate on the issue. Fort Worth councilman Joel Burns guest speaks along with Dottie Griffith, Mike Rawlings and more at the Light a Fire inaugural event, with donations given to Youth First Texas.

DEETS: The MAC, 3120 McKinney Ave. 6:30 p.m. $25. The-Mac.org. Search “light a fire” on Facebook.

—  Rich Lopez

Meet the cast of ‘Lez Be Proud’ tonight at Sue Ellen’s

Texas lesbian get center stage on the web

First of all, it’s not The Real L Word. Despite the sexy ladies in the cast of the new web show Lez Be Proud, the show is to educate as well as entertain. But hey, we just love that it’s based right out of the Lone Star State. Meet the cast tonight and get a peek at what the show is going to offer. Anton Shaw hosts the evening.

DEETS: Sue Ellen’s, 3014 Throckmorton St. 9 p.m. LezBeProud.com

—  Rich Lopez

Massachusetts Veterans Educate Local Students on DADT

Students at Scituate High School organized a “Don’t Ask, Don’t Tell” discussion with Massachusetts veterans last night. The event was open to the public and was attend by 50 community members.  After hearing from veterans, attendees made calls to Senator Scott Brown urging him to follow through this year on his promise to repeal DADT.

Travis Hengen spoke at the event about his experience as a gay veteran discharged under “Don’t Ask, Don’t Tell”.  Travis said that the law needs to be repealed so “troops serving in Iraq don’t have to worry about using the wrong pronoun when talking about their relationships back home and can focus completely on the mission at hand.”

John Affuso, who also served under “Don’t Ask, Don’t Tell” commented on Senator Scott Brown’s recent statement supporting repeal.  “It was great to see Senator Brown endorse repeal,” said Affuso, “but we really need to see him show some leadership and make sure this comes up for a vote this year.”

Caroline McCall, a student at Scituate HS and one of the event’s organizers, said “We felt that since this issue is such a pressing issue, we wanted to plan this event to help inform the community and show that so many people care about making sure we do right by our troops by honoring and supporting everyone that wants to serve.”

In anticipation of a Senate vote on the Defense bill, volunteers at MassEquality’s headquarters in Boston have been mobilizing pro-repeal veterans to contact Senator Brown’s Boston and D.C. offices.  You can read a Bay Windows article about this work here.

If you are in Massachusetts and want to get involved, contact me at karl.bach@hrc.org.  And no matter where you live, find out about actions you can take TODAY at www.hrc.org/repealDADT.


Human Rights Campaign | HRC Back Story

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