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 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 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 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.
Jennifer Hudson turns 30 on Monday.
The Oscar winner has made headlines in the recent past mostly on her weight loss. She talks to Self magazine this month about losing over 80 pounds. This year, she returns to the big screen in Winnie, portraying Nelson Mandela’s wife, and in 2012’s The Three Stooges.
Venus coming home to Libra normally helps us to be more gracious, social and polite. Opposing Uranus on the way in whips up some crazy ideas of what that might mean. Compassion and imagining yourself in the other’s position is usually the best way to start out.
VIRGO Aug 23-Sep 22
You find amazing deals at estate sales, perhaps even your true love. If you already have one, bring him or her along and you find some treasure that will become an emblematic keepsake.
LIBRA Sep 23-Oct 22
You’re looking especially gorgeous. The attention you get will surprise you. Of course you’re not just a pretty face; a new contact could prove very helpful as a colleague.
SCORPIO Oct 23-Nov 21
Hiding out from the social whirl may give you peace, but doesn’t do much for your anxieties. Hum the first tune that comes to mind. That song will offer insights to face your worries.
SAGITTARIUS Nov 22-Dec 20
Party it up but don’t go overboard. Seek out new, interesting, unusual people at these events. Their perspectives can trigger new insights into your own roots.
CAPRICORN Dec 21-Jan 19
Career opportunities are looking good, but are you prepared? Know your strengths and the difference between reaching and overreaching. Work causes you to neglect issues at home.
AQUARIUS Jan 20-Feb 18
Think a little harder before opening your mouth. Does it really need to be said? Your words carry more weight than you realize. Treat them like currency and don’t waste them.
PISCES Feb 19-Mar 19
Opportunities abound as Venus is flashing her goodies in your house of illicit pleasures. She offers a deeper challenge to re-
examine your priorities and values.
ARIES Mar 20-Apr 19
You’re suddenly looking marriageable no matter what local laws allow. Let someone special see your inner wounds. Allowing yourself to be vulnerable shows confidence in both of you.
TAURUS Apr 20-May 20
A friend in need is a pain in the ass. You have your own problems. Even so, helping out your pal can not only get you out of your own problems for a bit, but help point you to a solution.
GEMINI May 21-Jun 20
Your idea of social outreach is a little outré. One on one is fine for scaring off people you don’t want to deal with, but if you’re working with a group, behave accordingly.
CANCER Jun 21-Jul 22
New recipes go better than you’d hoped for. Even if things screw up, you get points for trying. At work keep your boss up on any experiments, just in case.
LEO Jul 23-Aug 22
Advice is not necessarily appreciated, as you could find out the hard way. An earnest, soul-searching talk about sex can be more satisfying than actually doing it. Not that one rules out the other.
Ed Flesh, the gay man who designed the Wheel of Fortune wheel, has died at 79, according to the Hollywood Reporter. Flesh is survived by his partner of 44 years, David Powers. Flesh gave the game show its look by designing the wheel to spin horizontally, not vertically. He began his career designing off-Broadway sets before he was hired by NBC. He gave many other game shows their look as well. He designed the $25,000 Pyramid as well as the sets for Jeopardy, Press Your Luck, The New Dating Game and The Newlywed Game. He also designed the set for David Letterman’s original NBC talk show and special sets for Oprah. He was also the set designer for the soap opera Days of Our Lives.
Jennifer Roback Morse, the Catholic head of the Catholic Ruth Institute (which is itself an affiliate of the Catholic National Organization For Marriage) is rallying even more young folks to use their Catholicism against, among other things, gay people’s *CIVIL* marriage equality:
“Based on a pastoral letter from the USCCB”? That’s great, when it comes to Our Lady of Ruth Institute’s religious ceremony. But unless we were all craned into Vatican City while we slept, we’re thinking that our CIVIL MARRIAGE EQUALITY conversation should abide by another document!
On today’s edition of The Michelangelo Signorile Show” (Sirius 109/XM 98, 2-4PM ET), guests Mike Rogers, Michael Tripplett, and LZ Granderson will join the eponymous host for a discussion on “outing” in the age of Mehlman.
Full press release:
SIRIUS XM’S MICHELANGELO SIGNORILE TO HOST/MODERATE PANEL “20 YEARS LATER: OUTING AND THE ETHICS OF REPORTING ON THE SEXUAL ORIENTATION OF PUBLIC FIGURES” LIVE ON HIS DAILY OUTQ SHOW FROM THE 20TH ANNUAL NATIONAL LESBIAN & GAY JOURNALISTS ASSOCIATION MEDIA SUMMIT AND NATIONAL CONVENTION IN SAN FRANCISCO
In the wake of discussions this year about Federal Judge Vaughn Walker (who overturned Proposition 8) and former RNC Chairman and Bush ‘04 campaign manager Ken Mehlman, SIRIUS XM’s Michelangelo Signorile will host and moderate a panel discussion called “20 Years Later: Outing and the Ethics of Reporting on the Sexual Orientation of Public Figures” live from the 20th Annual National Lesbian & Gay Journalists Association (NLGJA) LGBT Media Summit & National Convention in San Francisco, CA.
Signorile will host this discussion live on his daily SIRIUS XM show on Friday, September 3 from 2:00 – 4:00 pm ET (replays 4:00 – 6:00 pm ET) on OutQ, SIRIUS channel 109/XM channel 98. Panelists include:
– LZ Granderson, columnist for ESPN.com’s Page 2, host of web-based ESPN360 talk show “Game Night”
– Michael R. Triplett, contributor, Mediaite.com, part of the NLGJA Board of Directors and member of the NLGJA Rapid Response Task Force
– Michael Rogers of PageOneQ.com and BlogActive.com
For over two decades SIRIUS XM host Michelangelo Signorile has been among the most outspoken and controversial critics of American politics and culture. As a gay activist and journalist, he earned acclaim as the father of the “outing” phenomenon, sparked by his 1990 Outweek cover story about publishing magnate Malcolm Forbes’ homosexuality. He has continued to be on the forefront of reporting on these issues for his whole career, in-depth coverage of Larry Craig, Mark Foley, Mark Kirk, Mark Buse and others. Signorile was featured in Kirby Dick’s movie Outrage.
Signorile covers the issues of the day in-depth daily on The Michelangelo Signorile Show, his live, four-hour call-in show on SIRIUS XM’s OutQ, the nation’s 24/7 LGBT channel, engaging in an active and ongoing dialogue with listeners across the country on the air as he reports, comments, rants and madly obsesses about politics, media, pop culture and a host of other things that irk and interest him and interviews a variety of newsmakers and community leaders. The Michelangelo Signorile Show airs weekdays from 2:00 – 6:00 pm ET on OutQ—SIRIUS channel 109/XM channel 98. OutQ is trailblazer in LGBT media, offering groundbreaking coverage of social and political issues, as well as music and entertainment programming, all of which is produced by and for the LGBT community. Signorile continues the dialogue and posts daily commentary audio clips and more on his widely read blog/site: www.signorile.com.