January has passed, and it appears as though the sun is beginning to peak from behind the clouds with regards to Dallas Real Estate. If last month is any indication what the year holds in store locally, then 2012 could be the best market we’ve seen in several years.

Our preferred lender, Christian Johnson with GB Shelter Mortgage, sends out a weekly market update that provides a broad overview of the economy and its effects on the lending industry. He mentioned that unemployment had again dropped, and the overall economic forecast looks encouraging.

After reading his weekly email, we thought it would be nice to get his thoughts on the local housing market thus far in 2012.

“I took more loan applications in January than in any previous month in 2011,” Johnson said. “Buyer confidence is up, and overall, there is a positive sentiment right now.”

Johnson added that rates for a 30 year fixed are 4% and 15 year fixed is 3.375% and should remain steady until after the election. Inflation is also holding, but Johnson warned that although the US economy is doing better, other world markets are hurting right now.

“It’s going back to the way it used to be. People are actually buying houses for the right reasons such as putting a roof over their head instead of thinking of it solely as an investment.

For more information, please contact our preferred lender ChristIAn Johnson at 214.763.8767

Hewitt & Habgood and Dave Perry-Miller are proud to announce their Creole sponsorships for the 3rd Annual Dash for the Beads that will continue the tradition of supporting the beautification of the Oak Cliff area on Saturday, February 18.

This pet, stroller and family friendly event is a non-profit initiative set forth by Attorney Chad West and co-founder David Sassano as a way to raise money for Oak Cliff organizations. Funds raised this year will go to the local group “Finding Inspired Dog Owners”, or FIDO Oak Cliff, as a means to pave the way for Oak Cliff’s first dog park.

 “This is, I believe, the only costumed run in Dallas,” David Sassano said, “it turned into more of an event this year and we’re hoping to raise over $10,000.”

This year’s activities include a ‘Pooch Pavillion’, Kids Booth with arts and crafts, in addition to heated beer tent, clothing truck with DJ and several food truck vendors. Additionally, there is a “Best Costume” contest recognizing the best human and canine outfits in their respective categories.   

The Bishop Arts District will be blocked off, allowing access to friends and family alike to cheer on their favorite runner, walker or 4 legged friend. The event includes a 1 mile walk or 5K run with late registration available through Thursday, February 16, 2012 11:59pm CDT. Additional registration will also be available the morning of the race.

Fees for the 5k run are $30 for adults and $15 for children under 12. Fees for the 1 mile walk are $20 for adults and $15 kids under 12. There is also a pet registration fee of $5 with all proceeds going directly to FIDO Oak Cliff.

If you prefer spectating only, admission to the Bishop Arts District activities is free. Participation is preferred, donations are welcome, and additional information is available at www.dashforthebeads.org.

Concerns from opposition were possible obstructed views of downtown. The original proposal from the developer was to allow buildings of 79 feet in height, and opposition requested that it be decreased to 60 feet. The commission saw both sides of the argument, hence arriving to a 70 foot compromise.

   Another issue discussed and concluded was the Ft Worth Ave Special Purpose district that says no more than 20% of street facing facade may be flat or corrugated metal panels. The committee also upheld the ordinance that will keep screening walls around dumpster and storage areas made of the materials to match the main structure of the building. One good thing to come of this is that residents will be assured that trash and storage will not be an eye sore when the project is complete. Or will they?

That might be a broad statement considering the word “match” is in the phrase, and who is to determine what “matches?”  Green matches brown and red matches purple depending on who you talk to.

 All in all, the city has given the go ahead on a great project that will include Cox Farm Grocery, numerous retail shops and housing, all with one of the greatest views of downtown Dallas the city has to offer. This is definitely a good sign of the things to come for Oak Cliff.        

How many times have you heard, “You wanna make a lot of money? Invest in some real estate!”

Well, that idea still holds true and to some folks, capitalizing in today’s market can help you build your personal wealth as well as your children’s. Here is the low down.

Over the past two years, the ability to obtain a home loan has been difficult for young buyers, as their credit rating must be extremely good to qualify and not to mention the need for a healthy down payment in some cases. In fact, statistics showed that the average credit scores to qualify for loan origination in a normal economy from Fannie, Freddie and FHA were 720, 720 and 650, respectively. Under our current economic situation, those numbers have soared to 762, 758 and 698 in 2010.

The point here is this. With the markets fluctuating at a rate to make even the most stable tummy nauseous, helping your child purchase a home during these times might be the smartest investment opportunity around. Why have your children pay a bank at a higher interest rate when mom and dad can play the banker’s role. Parents can determine an interest rate that is fair, and in turn they can help get their children on the way to financial stability and earn considerably more than they are with their banks.

One drawback is the obvious defaulting on a loan by the child. However, look at this way… it’s a solid investment for you with better returns than the stock market can provide right now. Either way, it can be a win-win investment strategy as long as your child is not Bernie Madoff.

On the surface, the Fed stating that they will hold rates low for some time would be appealing and exciting, but rates have been at this level for the past 2 years.  Homeowner interest rates have fluctuated between 4.0% and 5.5% during that same span of time.  When the Fed talks about rates, those are the rates that they will lend money to banks and businesses, not the consumer.  The homeowner rates are driven by Treasury Bonds (and other things, but mainly treasuries).  If countries like China stop buying Treasuries, we will then have a much larger issue when it comes to homeowner rates.

Mortgage rates would have improved even more this week if Friday’s Employment report had not exceeded expectations. Against a consensus forecast of 85K, the economy added 117K jobs in July, and the data for May and June was revised higher by 56K. The Unemployment Rate unexpectedly declined from 9.2% from 9.1% in June. Average Hourly Earnings, a proxy for wage growth, increased at a 2.3% annual rate, which was higher than the consensus forecast.

In short, the data solidly surpassed investor expectations in nearly every area. But, the most significant economic data will be Friday’s Retail Sales report, as Retail Sales account for about 70% of economic activity.

*The information contained in this blog was provided by Christian Johnson with Shelter Mortgage. Christian is the preferred lender for the Hewitt & Habgood Realty Group.

Wondering what types of tables to use in different scenarios? Charlotte Moss, designer extraordinaire and contributor to publications such as the Wall Street Journal and Architectural Digest, says that “a 36-inch wide rectangular table is perfect for conversation.  A round table with a diameter of 48 inches seats six; a 60-inch round will handle eight standard dining chairs or 10 ballroom chairs.”  I guess the only decision to made by you the consumer is 1) Do you want to be conversational with your guests, and 2) How many guests you want to be around the table is dependent on what style of chair you choose.

Have you ever walked into a home and wondered why the owner installed an 85 inch chandelier in a 10×10 dining room?  Interior Designer Bunny Williams, of Bunny Williams Inc, says “How big should an overhead light fixture be?  Just add the length and width of the room in feet, and whatever number you come up with is, in inches, your guide for the fixtures diameter.  So a 15×20 foot room would need a 35 inch wide chandelier.”  Designer Thom Filicia goes on to add, “The bottom of a dining-room chandelier should hang 36 inches above the table.”

Additionally, window treatments can give us all fits if not installed properly, thus a generous portion of putty to fill the trial and error holes is needed when embarking on this journey.  A good rule of thumb offered by designer Miles Redd is to, “Mount curtains as high as possible to give the room more height, and let them break 1-1/2 inches on the floor. “

Interior designer and expert commentator of HGTV’s show Small Space, Big Style Libby Langdon said, “Curtains should be 2-1/2 to 3 times the width of the window.  So if you’re doing two panels, each should be 1-1/4 to 1-1/2 times the window width.  Buy a rod that’s 20 inches wider than your window so it extends 10 inches on either side.  Your window will seem much wider than it really is.

 If only we had known this information three house purchases ago!

*Design information used in this blog can be found in the July/August 2011 issue of House Beautiful

In the previous entry, we discussed the necessity to perform preventative maintenance on your foundation because of the extreme temperatures and lack of rain.  Not beating a dead horse, but if you’re anything like us, you appreciate helpful hints from industry experts to stretch your dollar more efficiently during the summertime heat.

Today’s topic is “how to water!”  From plants to grass to trees and shrubs, there is sort of method to madness in keeping a lawn and plants healthy during a Dallas summer.  We are by no means horticulturists or industry experts, but countless Sundays spent listening to Neil Sperry and scanning recent magazine articles have prompted us to make an effort in spreading helpful knowledge.

Things to keep in mind:

               1) Water deep to establish a healthy root system.  Surface watering can damage plants and lawns depending on the time of you day you water.   Watering in the heat of the day can cause sunscald to foliage, so it is recommended to water in the early morning or late evening as near to the roots as possible.

               2) Use a soaker hose for large areas such as gardens.  It reduces the amount of evaporation and additionally gets water to the roots quicker.

               3) Use a drip line to water shrubs and trees.  Again this will allow water to get to the roots quickly and efficiently. Surprisingly enough, trees and shrubs need about 1-3 inches of water a week. FYI – Trees can absorb as much as 150 gallons of water in one day.

               4) When watering your lawn, consider early morning as opposed to evening watering.  Lawns have a tendency to develop diseases when watering at night because the soil remains wet for a longer period of time.  

               5) If keeping your lawn alive is your only goal, a deep soaking every couple of weeks will do the trick.  Granted, neighbors might scowl as they walk by, but your pocketbook will breathe a sigh of relief. 

In conclusion, there is no tried and true method to the exact science of watering.  The tips are not meant to be written in blood as any garden specialist will have their own opinion, but these are just a few ways to get the most bang for your buck when the dog days of summer here.

*Information contained in this entry was compiled from a combination of tips from Neilsperry.com and a recent gardening tip section in Martha Stewart Living.

During the summer months, the heat causes your foundation to shrink and contract and vice versa the ground has a tendency to swell during the rainy fall and spring seasons. After reading various articles, we thought it would be a great reminder to homeowners and/or sellers to keep in mind the adverse affects that can happen as a result of improper foundation maintenance.

We have all heard nightmares of people faced with exorbitant foundation repair costs, and the question lies therein to decide personally whether to absorb the cost of watering now or face costly repairs in the future. We tend to err on the side of continuous and lower cost maintenance. Some of us know the expense of water associated with maintaining a pool or a lawn can be cumbersome and expensive to say the least, however, being slapped with a foundation repair bill can all but take the wind out of anyone’s sail.

A bit of helpful information is to create a watering regimen to help offset the effects of the blistering Dallas heat. A quick and often times successful option is to place a soaker hose approximately 12 inches away from the perimeter of the house. Make sure that the flow of water is directed away from the house.   Heavily mulching the beds around the home will help retain the moisture for a longer period of time.

In general, water ½ hour to 1 hour in the early morning when the high temperature begins to consistently remain above 90 degrees.  For better results, burying the soaker hose 6 inches deep will allow better distribution of moisture to the foundation. If you use the burial method, watering until the top soil is moist should guarantee an even and adequate distribution of water below.

A good tip to remember from Steve, our foundation expert at Alpha Foundation Repair, (and I paraphrase) is to not place the hose directly against the home where cracks are beginning to occur, because any water distributed to the foundation can and will collect at the bottom of the grade beam which could in turn cause the area to lose some of its load bearing capacity and ultimately result in the house sinking into the ground

If you are currently experiencing foundation issues, I recommend contacting a foundation specialist to decide the best course of action. If you are simply trying to maintain your property, purchasing and installing a soaker hose might be the best and least expensive way to maintain your home during the summer heat. Besides, nothing like a little bit of sweat equity to help you save money in the long run.

For more helpful information on your foundation please visit www.alphafoundationrepair.com and click on the FAQ section of their website.

Dave Perrry Miller Agents

As part of our ongoing efforts to market the wonderful benefits of North Oak Cliff, we chartered a bus and took 25 of the top producing Realtors from all 3 Dave Perry-Miller offices on a guided tour of Kessler Park & North Oak Cliff neighborhoods.  During the tour, Realtors learned about the history of Oak Cliff, the role of the Trinity River and its many bridges in defining Oak Cliff, the private and public schools that serve the area, how the homes are built on to solid limestone for strength and long-term stability,  grocery stores, shopping and entertainment venues serve the area.  We toured 6 houses in a variety of architectural styles, sizes and price points, ranging from $389,000 to $1,495,000, and toured The Kessler School, the private school that serves the neighborhood.