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

Snap shots: ‘Bill Cunningham New York’ turns the camera on fashion’s most influential paparazzo

LENS ME A SHOE | The Times photographer documents foot fashion in ‘Bill Cunningham New York.’

ARNOLD WAYNE JONES  | Life+Style Editor
jones@dallasvoice.com

Maybe Project Runway’s to blame, maybe The Devil Wears Prada, but for the past few years there has been a surplus of documentaries about the fashion industry, with profiles of designers like Valentino (Valentino: The Last Emperor), Yves Saint-Laurent (several in fact), even young designers (Seamless) and Vogue magazine’s editor (The September Issue). (By contrast, I can only recall one fashion doc from the 1990s: Unzipped, about a young designer named Isaac Mizrahi.) Is there really that much to say about dressmaking?

Maybe not, but while Bill Cunningham New York fits broadly within the category of fashion documentaries, its subject is unusual because he eschews the trappings of haute couture even as he’s inextricably a part of it — a huge part, really.

If you don’t read the New York Times, you might not recognize Cunningham’s name, and even if you do read it, it may not have registered with you. For about, well, maybe 1,000 years, Cunningham has chronicled New York society with his candid photos of the glitterati on the Evening Hours page. At the same time, however, he has documented real fashion — how New Yorkers dress in their daily lives — with his page On the Street, where he teases out trends (from hats to men in skirts to hip-hoppers allowing their jeans to dangle around their knees). Anna Wintour may tell us what we should wear; Cunningham shows us what we do.

“We all get dressed for Bill,” Wintour observes.

What makes Cunningham such an interesting character is how impervious he seems to the responsibility he effortlessly wields. He loves fashion, yes, but he’s not a slave to it himself. He scurries around Manhattan (even in his 80s) on his bicycle (he’s had dozens; they are frequently stolen), sometimes in a nondescript tux but mostly in jeans, a ratty blue smock and duck shoes, looking more like a homeless shoeshiner than the arbiter of great fashion. He flits through the city like a pixie with his 35mm camera (film-loaded, not digital), a vacant, toothy smile peaking out behind the lens, snapping the denizens of Babylon whether they want it or not.

One of the funniest moments is when strangers shoo him away as some lunatic paparazzo, unaware how all the well-heeled doyens on the Upper East would trade a nut to have Cunningham photograph them for inclusion in the Times. Patrick McDonald, the weirdly superficial modern dandy (he competed as a wannabe designer on the flop reality series Launch My Line a few seasons back), seems to exist with the hope that Cunningham will shoot him. And shoot him he does.

Many artists are idiosyncratic, even eccentric, but Cunningham is supremely odd by any standards. He lives in a tiny studio near Carnegie Hall filled with filing cabinets cluttered with decades of film negatives on the same floor as a crazy old woman, a kind of urban variation on Grey Gardens. He knows tons of people but most of them seem to know very little about him. By the time near the end when the filmmaker, director Richard Press, finally comes out and ask him outright whether he’s gay, Cunningham arches in that prickly New England way, never really answering outright, though he says he’s never — never — had a romantic relationship. Things like that were simply not discussed by men of his generation.

In some ways, we never really know any more about Cunningham at the end than any of his friends do, and perhaps even him. Cunningham comes across as defiantly non-self-reflective. He lets his work do all the talking for him. And that work has a lot to say on its own.

This article appeared in the Dallas Voice print edition April 8, 2011.

—  John Wright