“What’s The Good News?”
1. Local
homeowners looking to list are in luck this home shopping season, as Dallas has
been named one of the friendliest markets for sellers by real estate
database titan Zillow. Zillow analyzed housing markets in the 35
largest metros across the country and ranked them on a spectrum from most
buyer-friendly to most seller-friendly. The index "shows how hot a
region's housing market is compared to others by analyzing sale-to-list-price
ratios, percentage of listings with a price cut, and how long homes stay on the
market," the company says in a release. The Dallas-Fort Worth metro area
ranks No. 24, making it more seller-friendly than most major metros in the
country. DFW has a median home value of $242,600, and homes stay on the
market for an average of 71 days. The report drilled down further to name Cedar
Hill, where the median home value is $211,300 and homes spend only 53 days on
the market, the most seller-friendly spot in DFW. Celina, approximately 15
miles north of Frisco, is the most buyer-friendly location in the area.
2. Nestled in the Dallas-Fort Worth suburb of
Roanoke is HGTV’s 2019 Smart Home, a house that takes innovation to the next
level in technology, energy efficiency, and design solutions. And, it will be
given away later this year. HGTV says the home has “an
aesthetic best described as an Old-World retreat,” but it is also full of
high-tech advancements. It’s been building these smart homes in various cities
for more than a decade. The home’s high-tech applications include a Logitech Harmony
Hub to control all of the house’s lights and televisions, a SkyTrak golf
simulator, and a Robomow robotic lawnmower, according to GuideLive.
The house will also be outfitted with two Echo Dots, three Keurig machines, and
Sleep Number mattresses in every bedroom—ensuring that
technology will always be at the homeowner’s fingertips. Not only does
this house have three bedrooms and three-and-one-half bathrooms, it also has a
media room with a 3D movie theater, a home office, a playroom, and an outdoor
patio outfitted with a television. Established in 1881, Roanoke is described by
HGTV as having “a charming, small-town atmosphere with the best in amenities
and opportunities” and as “unique dining, shopping
and entertainment destination.”
3. Mixed-use properties come in all shapes, sizes, and locations, but developers say the most effective projects are those that
transform multi-use real estate developments into unique destinations with
vibrant social scenes. Bright Realty is developing The The realm at Castle Hills, a 324-acre project that will ultimately feature 235,000
square feet of Class A office space and 260 multifamily units, as well as a significant amount of retail and restaurant space. Both the project and the
company are based in Lewisville, one of several suburbs on the north side of
Dallas experiencing steady growth in mixed-use development. Just north of Lewisville in The Colony, Berkshire Hathaway-owned
Nebraska Furniture Mart is developing Grandscape, a 433-acre mixed-use project
that will include several hundred thousand square feet of retail and restaurant
space, as well as a 345-unit apartment tower and a hotel and resort.
To the east in Frisco lie established mixed-use developments like
The Star and Frisco Station, which respectively offer hotel and residential
space in addition to office and retail. Frisco will also be home to the PGA of
America’s new headquarters, which will feature two championship golf courses, a
500-room Omni hotel, office, and retail components, as well as a network of
walking and jogging trails.
4. If
you start seeing a bunch of Tropical Smoothie Cafes opening all over Dallas-Fort
Worth, that’s not a coincidence. It’s because, in the past few years, The Atlanta-based franchise company has been making a concentrated and aggressive
effort to expand its business in DFW. The first one in the area opened in 2015
and since then, 11 more have popped up, including its 700th in Hurst. This year
alone, Tropical Smoothie Cafe plans to open four more locations in the area by
the end of this year. Overall, there are 750 locations in 44 states. “The state
of Texas is a business-friendly environment, said Charles Watson, the CEO of
Tropical Smoothie Cafe. “The economic growth, the demographics of the DFW area
is obviously a good thing for the brand.” Tropical Smoothie Cafe brands itself
as a health-conscious quick casual restaurant chain. In addition to smoothies,
it offers flatbreads, sandwiches, wraps, and salads. In total, 60 percent of the
business is smoothies while the remaining 40 percent is food.
5. Apartment units around the country are getting pricier – and
smaller, and apartments in Dallas-Fort Worth are no exception. New apartments
in the Metroplex are 4 to 8 percent smaller and 40 to 50 percent more expensive
than they were a decade ago, according to a new report from nationwide
apartment search website RENTCafe.com. The report found that the average rent
for newly built apartments in the U.S. has increased 28 percent since 2008. In
that same timeframe, apartments have become 5 percent smaller on average. But
several cities, including Lewisville, have seen an increase in average
apartment size. The average unit size in Lewisville, regardless of year built,
is 879 square feet. However, Plano actually takes the lead with average
apartment size in Dallas-Fort Worth. The average apartment in Plano is 940
square feet compared to 859 square feet in Fort Worth, 848 square feet in
Irving, 837 square feet in Dallas and 818 square feet in Arlington. The
national average is 882 square feet. While all apartment floor plans have been
shrinking across the country, studio apartments have been cut down the most,
the study said. The average studio apartment is 514 square feet, 10 percent
less than what it was in 2008.
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