Dallas, TX Condo Blog 
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The Bidding Wars are Back
Thursday, May 2nd, 2013 at 11:22pm. 0 Comments.
Are the bidding wars back? You bet they are. We asked four of our Highrises.com partners about the trends in real estate.
Ian Bell from Seattle said a property listed on a Thursday for $780k, and by Monday there were 10 offers, come even offering to waive inspections! The property ultimately sold for $930k to a cash buyer. This prompted Ian to wonder, “How do regular folks compete?”
Danielle Contreras, our Highrises.com partner from San Jose, CA is seeing a similar trend in her real estate market. A property recently listed for $668k and quickly received 11 offers. The price of the house jumped to well over $700k with one buyer even agreeing to waive all contingencies.
Danielle said she has experienced so many stories just like
…MORTGAGE UPDATE: 30yr Fixed - 3.5%, 15yr Fixed - 2.625%
Monday, April 8th, 2013 at 4:41pm. 0 Comments.
A wide range of economic news was favorable for mortgage rates this week. The Employment data was weaker than expected, Japan expanded its bond-buying program, and tensions with North Korea increased. As a result, mortgage rates ended the week significantly lower.
Friday's Employment report was disappointing in nearly every area. Against a consensus forecast of 190K, the economy added just 88K jobs in March. Average Hourly Earnings, a proxy for wage growth, was flat from last month. Digging deeper, the small bit of good news was that the data from the prior two months was revised higher by 61K jobs. This was far outweighed, however, by the bad news in the details of the Unemployment Rate. The Unemployment Rate unexpectedly dropped from 7.7% to 7.6%, but the…
Worth Magazine Ranks Top 10 Residential High-Rise Buildings in the World
Wednesday, April 3rd, 2013 at 4:26pm. 0 Comments.
Worth Magazine has looked at all the luxury high-rise condo buildings throughout the world and compiled what they think are the ten best. They're pretty vague about the criteria they used, only saying that these are "Then of the world's coolest places to live". We would add a few to the list if we could, like Sierra Towers in LA or Museum Tower in Dallas.
1. One57 in NYC. 90 floors but only 92 units!
2. One Hyde Park in London.
3. Opus in Hong Kong. A Frank Gehry production. 12 units, 12 floors.
4. Absolute Towers in Toronto. The first tower sold out faster than most concerts... they were gone in 24 hours.
5. HSB Turning Torso in Copenhagen. Pictured to the right. Powered entirely by locally produced renewable
…Mortgage Update: 30yr Fixed - 3.75%; 15yr Fixed 2.75%
Monday, April 1st, 2013 at 4:35pm. 0 Comments.
It was a relatively quiet week. Mixed US economic data had little impact. Events in Europe were the main influence on mortgage rates. Investors were concerned that uncertainty in Europe could slow the pace of global economic growth. As a result, mortgage rates ended the week a little lower.
The bank problems in Cyprus raised broad questions about the relationship between the troubled countries and the stronger countries in the European Union (EU). Early in the week, Cyprus reached an agreement to receive an EU bailout package for its banks. The terms of the aid highlighted the growing reluctance of Germany and the other healthier countries to use taxpayer funds to provide aid to the weaker countries. Investors are concerned that this may slow the…
Best Career in 2013...
Wednesday, March 27th, 2013 at 10:11pm. 0 Comments.
We have great news we have to share! The Happiest Job in America in 2013 is Real Estate.
Forbes just listed the top 10 happiest (and respectively happiest) jobs in America. The #1 happiest job was a real estate agent. Careerbliss surveyed 65,000 people to come to this blissful conclusion. The logic behind this is real estate agents are rewarded for their success. They can have a flexible schedule and increase their income with hard work. The careers with less rewards and more office politics scored the lowest on the happy rating including associate attorney, customer service associate and sadly RN’s and teachers.
The Bureau of Labor Statistics expects an 11% increase in real estate jobs from 2010-2020. The majority (57%) of real estate agents
…Mortgage Update: 30yr Fixed 3.75%, 15yr Fixed 2.875%
Monday, March 25th, 2013 at 4:57pm. 0 Comments.
News of a Cyprus bank bailout proposal caused a flight to safety early in the week which helped mortgage rates. Investors then viewed the Fed statement released on Wednesday as negative for mortgage rates. The two factors roughly offset each other, and mortgage rates ended the week just slightly lower.
The banks in Cyprus, a member of the European Union, are in dire need of additional capital. Cyprus is a tax haven for foreigners and its banking sector is enormous compared to the size of its economy. The EU proposed to loan Cyprus some of the needed funds, if Cyprus raised the rest through a one-time tax on all bank deposits. The bank deposit tax was very unpopular, and government leaders in Cyprus voted against the bailout plan without providing an…
US Census Reports New Construction on Structures with Five or More Units up 54.9%
Tuesday, March 19th, 2013 at 7:36pm. 0 Comments.
The Feburary 2013 report from the US Census revealed some interesting news for multi family units. New Privately-Owned Housing Units Authorized in Permit-Issuing Places increased 54.9% from Feburary 2012 to Feburary 2013.
In February 2013, 285,000 buildings with five or more units began construction for units in buildings with five units or more, up from 240,000 in February 2012. As the economy recovers, we expect more completed projects as many we on hold or canceled from 2008-2012.
View some recent developments in Highrises.com's New Buildings Blog.
Mortgage Update: 3.875% 30yr Fixed and 2.875% 15yr Fixed
Tuesday, March 12th, 2013 at 6:18pm. 0 Comments.
Unexpected strength in the labor market was seen this week. The good economic news lifted the Dow stock index to a record level, but it also pushed mortgage rates higher.
Mortgage rates climbed on the days leading up to Friday's Employment report and rose even higher after the figures were released. Against a consensus forecast of 170K, the economy added 236K jobs in February. The Unemployment Rate declined from 7.9% to 7.7%, the lowest level since December 2008. Average Hourly Earnings, a proxy for wage growth, increased modestly from last month. In short, today's data exceeded expectations nearly across the board.
The growth in the labor market is a major component of a broader improvement in the US economic outlook. Recent manufacturing, Durable Orders,…
Mortgage Update: 3.615% 30yr Fixed, and 2.75% 15yr Fixed
Tuesday, March 5th, 2013 at 8:54pm. 0 Comments.
The biggest influence on mortgage rates this week came from the Italian election, which reignited investor concerns about Europe and prompted a flight to safer assets. Fed Chief Bernanke continued to show strong support for the Fed's bond buying program, which was also positive for mortgage rates. As a result, mortgage rates ended the week lower.
Monday's election in Italy showed very close results between the top three candidates, and it will be very difficult to establish a coalition government when no party has a majority. A long period of negotiations will take place, and another election may be required. What is clear is that there is widespread opposition in Italy to the austerity measures supported by the European Union (EU). Investors are concerned…
Emily Ray-Porter Sells First Residence at Museum Tower
Thursday, February 14th, 2013 at 10:08pm. 0 Comments.
Emily Ray-Porter of Dave Perry-Miller & Associates closed Museum Tower’s first residential transaction. Emily is our Dallas Highrises.com representative and brings knowledge and expertise to homeowners selecting thier dream houses and specializes in Highrise Lifestyle and fininding the location and amenities to fit buyers home fantacies.
Designed by world-renowned architect Scott Johnson, the dramatic one, two and three bedrooms at Museum Tower in Dallas also have access to amenities such as two resident owners lounges, a bocce ball court, 80-foot swimming pool, outdoor fire place, fire pit plus outdoor cooking and dining areas to live life to the fullest and entertain your most special guests. There is even an on-site dog park and
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