Dallas Homes Selling at Ridiculously Fast Rate

I do not envy anyone looking to buy a home in Dallas in the near future. A recent report from the real estate website Redfin.com says that, in March, 14.4% of homes in Dallas sold within three days of hitting the market. That’s up 1.5% compared to last year.

What’s more, in February, 38.8% of homes sold within two weeks. That’s up from what was already a fast-moving market in February 2013, when that rate was 31.9%. Our continued population growth, and housing inventory that’s down 19.5% since last year have a lot to do with it.

Prospective buyers must prepare for war.

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The 35 Richest Neighborhoods in Dallas-Fort Worth

The little town of Westlake, north of Fort Worth, boasts the highest average annual household income ($526,590) among all North Texas neighborhoods. That’s good enough for 12th richest in the nation based on an analysis by geographer Stephen Higley who’s ranked the top 1,000 based on 2006-2010 Census Bureau data.

The very top of the list is occupied by ritzy suburbs of New York, D.C., Miami, and Los Angeles. Only Chicago has an inner-city neighborhood in the 10 richest. “The Golden Triangle” of Greenwich, Conn., outdoes everybody with a mean household income of $614,242.

Here’s the entire list of the 35 Dallas-Fort Worth neighborhoods that appear in the Higley 1,000:

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Fort Worth, Dallas Top Forbes List of Best Cities For Investing in a Home

Forbes worked Local Market Monitor, a company that tracks home prices and economic factors in more than 300 housing markets, to put together a list of “Best Buy Cities.” These are the top 20 places where you should want to invest money in a home.

No. 1? Fort Worth-Arlington. No. 2? Dallas-Plano-Irving.

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When You Could Buy a Highland Park Home For $70,000

In looking through a 1975 issue from the archives of D Magazine for unrelated reasons, I happened across a story (which appears to be incomplete online) featuring a number of couples who had moved into East Dallas and discussed why they were choosing to invest in the neighborhood. Among them:

Don and Judy Templin had wanted to buy a house in Highland Park. The have lived there for a year in a rented place, but had begun to outgrow it.

They found a large one-story on St. John’s that they thought might fit their buying capability — around $40,000.

“As it turned out, we looked at it and liked what we found, but it cost too much,” says Templin, a young attorney. “I think it sold from $60,000 to $70,000.”

And then they witnessed what might have been the dawn of the teardown age:

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All Clichés Are Bigger in Texas Award Nominee: Champ d’Or Edition

Check out this headline on a blog post about the sprawling $35 million Champ d’Or estate in Hickory Creek going back on the market.

Et tu, Houston Chronicle?

 

Another in a rambling, occasional, rootin’, tootin’, calf-ropin’ series about writers who use Texas and Dallas clichés in their pieces.

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Leading Off (10/25/13)

School Board Strips Super of Investigation Oversight. As they’d proposed previously, Dallas ISD trustees on Thursday took the Office of Professional Responsibility, which investigates fraud or wrongdoing in the district, out from under the control of superintendent Mike Miles. OPR will merge with the district’s other investigative unit, the Office of Internal Audit, and report directly […]

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Want to Trade a Dallas Home For a Place in Napa Valley or North Dakota? Here’s Your Chance.

Someone in Napa Valley is looking to swap his house for a home in East Dallas: I have a 2/2 house in Napa, California wine country near the world famous Silverado Trail and need to live in Dallas for a year for my company. Is anyone interested in swapping houses? I'd like to live somewhere […]

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Want to Buy Mike Miles’ North Dallas House?

Candy Evans reports Dallas ISD superintendent Mike Miles’ 3,566-square-foot North Dallas house, which he and his wife bought in May 2012 when they moved to Dallas, is on the market. This doesn’t mean he’s looking to abandon his post. His Colorado Springs, Colo., home never sold and that’s where his wife and son recently returned. […]

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Richard Patterson on Jim Schutze’s “Culture Mob”

Richard Patterson is a big-deal British painter who lives in Dallas. After reading my post yesterday about Jim Schutze’s anti-intellectual view of the Nasher, Richard sent me a few words on the topic. And by “few,” I mean 2,400. Bear in mind, he banged out this ditty in about two hours. It makes me angry […]

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So What Dallas Neighborhood Do I Live In?

Todd Robberson makes a good point over on the DMN Opinion blog. He doesn’t care for the way that the big map on the front page of today’s newspaper (accompanying the story about home price increases) classifies the neighborhoods of Dallas. It’s not actually the Morning News that’s responsible for drawing these lines. They’re taken […]

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High-Blight Areas Comprise 16 Percent of Dallas

Dallas Area Habitat For Humanity commissioned UNT researchers to identify the most blighted areas of Dallas. Their findings were released on Thursday. Using physical and socioeconomic characteristics from city, U.S. Census, and Dallas Central Appraisal District data, they created a “composite blight index.” The idea was to note the areas with the greatest number of […]

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Leading Off (7/1/13)

Will West Dallas Trailer Park Residents Vacate Land for Development — or Squat? Some of the residents of the trailer park off of Fort Worth Ave. near the Commerce St. Bridge have lived in the same spot since the early 1980s. Now they will have to vacate since the owner of the property plans to […]

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