Texas Real Estate

Home/Texas Real Estate

Texas Property Tax Transparency Disintegrating Before Our Very Eyes

As I have detailed in numerous articles, Texas property tax transparency is fake news, a false narrative floated by our horribly conflicted Texas legislative representatives. Those conflicted representatives include Senator Paul Bettencourt, the guy who's been heading the fake property tax "reform" efforts during the last few legislative sessions. He and his conservative, business-friendly colleagues are key to understanding why the biggest loophole in the Texas property tax code remains untouched.  That fake transparency cheered by governor Greg Abbott and our crony legislators is now disintegrating before our very eyes. This was a foregone conclusion. [...]

Denton Texas Home Prices Jump To Record Highs With Fed Liquidity

Denton Texas home prices jumped to record highs in January, defying typical seasonal weakness that would accompany a normal real estate market. Today's real estate markets are anything but normal, but we'll get to that in a moment. The median price of a Denton TX home rose 4.7 percent to a record $273,706 in January while the average price jumped 5.5 percent to $288,441. The average price per square foot of a Denton home spiked 9.4 percent to a record $140 per square foot...in January! While the local real estate industry is celebrating these numbers [...]

Sale of Pioneer Natural Resources Las Colinas Office Campus Destroys Property Tax Transparency Narrative

Commercial real estate deal makers in North Texas were apparently on a mission to make fools out of Texas legislators and their over-hyped Property Tax Transparency Act of 2019. Turns out there was an even bigger property tax  fiasco than the KPMG Tower sale on which I previously reported. A piece in the Dallas Morning news is celebrating the 2019 sale of 777 Hidden Ridge in Irving Texas. This is the shiny new office campus for Pioneer Natural Resources in Las Colinas. The campus has over a million square feet and sits on roughly 34 [...]

TRS Gives Teachers, Retirees & Taxpayers The Middle Finger

The Teacher Retirement System of Texas has secured a 10-year lease for 100,000 square feet of office space in what is likely one of the most expensive buildings in the state, the new Indeed Tower going up on West Sixth Street in Austin Texas. According to TRS officials, the state agency which oversees a retirement portfolio of roughly $160 billion negotiated a good deal for the lease on three floors of the new Class-A building. The base rent starts at a bargain of only $326,200 per month during the first year, rising to $383,391 per [...]

By |2020-01-26T00:13:02+00:00January 25th, 2020|Education, In the Press, Spin Cycle, Texas Real Estate|0 Comments

North Texas Finishes Year With Strong December Home Sales

North Texas finished the year with strong December home sales. NTREIS data indicate home sales jumped 13 percent compared to the same time last year. Median home prices rose 5.1 percent, and average home prices in the Dallas-Fort Worth area rose 5.5 percent in December. The supply of homes for sale dropped about 7 percent to 25, 503 in December. December provided another easy year-over-year comparison. At the end of 2018 the North Texas real estate market was experiencing a pronounced slump amid rising interest rates. There was also a big swan dive in the [...]

Ruse Of Property Tax Transparency Laid Bare With Sale Of KPMG Plaza Tower

The ruse of property tax transparency in Texas was laid bare this holiday season with the sale of the KPMG Plaza tower at 2323 Ross Avenue in downtown Dallas. It would be hard to find a better example of the giant con played on Texas homeowners than this 18-story office tower which reportedly sold at the end of 2019 for a cool $240 million. As usual, the Dallas Morning Snooze completely missed the real story surrounding the sale of this trophy commercial property, focusing instead on the glitz and glamour behind Dallas real estate scene. [...]

Census: New Home Sales Up 16.9% In November

The Census Bureau reported new home sales for November at a seasonally adjusted annual rate (SAAR) of 719,000 units. That was 1.3 percent better than the previous month, and a 16.9 percent rise from last year. The median price of a new home contracted in November was $330,800, while the average price stood at $388,200. Both figures represent a large increase from the prices seen last year. The supply of new homes stood at 5.4 months in November, down 17 percent from the 6.5 months of inventory we had last year. These figures from Census [...]

Easy Comparisons Coming To An End For DFW Housing Market

The easy year-over-year comparisons are coming to an end for the DFW housing market. Dallas-Fort Worth home sales rose one percent in November compared to the same time a year ago, while pending home sales were about 5 percent higher. DFW is capping off 2019 with nice little rebound in real estate sector. Next year the easy comparisons for the housing market will be a thing of the past. That 117 basis point drop in mortgage rates we saw for November won't be there to stimulate sales. Area home prices which were inflated by the [...]

DFW Housing Market Will Hit The Wall Again

The DFW housing market is reflating on borrowed time, and it will soon hit the wall again. North Texas home sales jumped roughly 8 percent in October, while Dallas-Fort Worth home prices experienced some of the best gains in 2 years.  Pending sales for October were also higher, indicating we'll likely be able to finish out the year on a positive note for the housing market. This may seem like great news for housing market aficionados and the area's largest paper, but things will soon get interesting as the parlor trick of plunging mortgage rates [...]

NAR: Existing Home Sales Up 3.9% In September

The National Association of Realtors reported a 3.9% increase in existing home sales for the month of September. Home sales in the South region were reportedly up 6 percent according to NAR, and this is reflective of what we saw in the North Texas housing market last month. The big year-over-drop in rates pushed both home sales and prices higher last month. According to NAR the median price of an existing U.S. home increased 5.9% in September. The average price of a U.S. home at $308,500 was higher by 4.2%. Months of supply stood at [...]