Hot Property: An Updated ’20s Beauty Near Highland Park Village On a street that blends old and new aesthetics, this house is right at home. By Emily Heft Published in Home & Garden October 16, 2018 2:00 pm Just blocks from Highland Park Village lies Potomac Avenue, a shady street within one of Dallas’ oldest neighborhoods. Some homes stand proudly with old-fashioned brick exteriors, framed by gnarled branches that have survived for generations. Others sport updated contemporary features, with picket fences hugging their green lawns. The sidewalks, often filled with a flurry of leaves, are lined with 2018 Audis and 1990s Mustangs alike. The street is a study in contrasts. BY THE NUMBERS 4248 Potomac Avenue $1,849,000 4 Beds 4.1 Baths 3,289 Sq Ft Built in 1923 Remodeled in 2016 4248 Potomac fits in perfectly, yet stands out from the rest. It isn’t kitschy, nor is it overly modern. Instead, it marries old and new beautifully, with a 1920s frame that was taken down to the studs in 2016 for a full renovation. White-painted bricks and dark gray shingles honor the vintage exterior’s shape, but still feel fresh. Two rectangular sconces next to the front door mimic the lines of the large inviting windows, further bathing the front in light. Small shrubs and flowers line the front for a subtle touch of homeyness. Its simplicity is what is most striking. Step inside, and you’ll see a continuation of the old-meets-new feel. A white marble fireplace, for example, has an antique mirror resting on the mantle, while the office’s dark wood beams are balanced by modern, slate-gray built-ins. Contemporary lighting fixtures illuminate the multiple living spaces and the bedrooms, and light wood floors throughout offer consistency. The kitchen’s primary focus is a navy center island with gold hardware flanked by acrylic bar stools that anchor the space in present-day. Spacious glass cabinets offer the opportunity for a pop of color depending on what you shelve inside. The bathrooms are most often all-white, with standing bathtubs, glass showers, and subtly patterned tile. Finally, with a big backyard, a back patio, four bedrooms, and a few spaces for fun (an attic/game room, for example), the house is as kid-friendly as it is chic. And with Bradfield Elementary...
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Booming business-friendly Dallas is an ideal market for long-term real estate investment, offering opportunities for excellent returns on rental property and bargain prices for housing. By establishing relationships with asset managers, investors have an edge with access to the best properties — even before they hit the market. See the following article from JasonHartman.com for more on this. Dallas, Texas Benefiting from Texas’ tax-friendly business climate, Dallas has grown by half a million in population and 180,000 jobs in just the past year, and is home to more Fortune 500 companies than anyplace else. Joining Jason is property investment and rehab professional, Phil, who shares his expertise on capitalizing on opportunities especially in the Dallas market. The Key to Sourcing Inventory Before properties even reach the market, bypass bidding wars by dealing directly with asset managers, purchasing in bulk and in cash. Developing these relationships is essential because it provides exclusive access to the best deals and the best properties, rather than using sources like MLS listings which are universally accessible. Characteristics of an Ideal Dallas Investment Property Newer builds – Phil concentrates on 2003-2007 model brick and slab construction to withstand the extremes of Texas weather. 3-5 bedroom; 1300-1700 sq. ft. – This is the optimal size for the rental market. $110-140,000 range, renting at $1175-1600 monthly – This provides an excellent rent-to-value ratio of 1% of purchase price or better. Neighborhoods with a minimum of 80% owner-occupied/ maximum 20% renter-occupied ratio. Phil recommends that you “go in with the investor’s eye”, focusing on factors like school system and crime rate rather than getting the rock-bottom priced property. His property rehab strategy emphasizes “economy of scale”, getting maximum efficiency by purchasing materials in bulk. This translates into savings since with each rehab property all major systems and appliances are replaced. Special Appeal of the Dallas Market For investment property, the Dallas-Fort Worth area is tops in terms of rate of return, with high rents and a cost of living well below the national average. With no state income tax, renting is especially appealing since tenants avoid the state’s comparatively high property tax. Of course investors recoup that with higher rents. Moreover, Dallas is a city of big spenders, not necessarily savers. Texas ranks...
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Dallas is a growing and thriving metropolis; it has a lot of unique advantages over other cities of comparable size. Dallas offers great opportunities in a diverse job market and a smart real estate environment, but it’s also a fun place to call home thanks to an established sports community, awesome nearby day trips, and a tasty food scene. Here are a few of the best reasons to look into Dallas when you’re searching for the perfect place to own property. Employment Opportunities Dallas is high on the list of fastest growing economies in the U.S. over the past few years. MSN Money and Forbes Magazine agree that the city is faring well in the job market, adding positions at all levels where other cities have struggled to keep opportunities open for established career professionals. This positive business environment is attracting businesses to the Dallas area from more expensive climes like New York and California. This means that Dallas is fast becoming a center of innovation and business diversity as a wider range of industries move into the area. Accessible Art A lot of art and culture has been blossoming in Dallas in recent years, but it’s not stuffy or insular. The Dallas Museum of Art is a no-cost attraction and promotes arts education for kids at a hands-on exhibit. There are also newer art and culture venues in the area, like the Perot Museum of Nature and Science and the kid-friendly Klyde Warren Park. Dallas has a large performing arts center, a symphony and an opera house for national acts, and smaller venues for local shows. Look out for monthly art walks and other special events throughout the year. Entertainment for All You won’t find a more enthusiastic sports town than Dallas. The Cowboys are certainly the hometown heroes, but pro teams in the NBA, NHL, and NBL makes sure there are games for the crowds to cheer for all year round. Dallas has several great shopping districts, more than 400 parks that are great for kids, and many nearby attractions. The original Six Flags amusement park is just outside Dallas, as is the massive Hurricane Harbor water park. Affordable Real Estate Dallas has one of the most favorable average income to cost...
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According to Forbes, Dallas, Texas tops all other cities for real estate investing in 2017. The ranking was based on six key housing components, including: past and projected job growth, costs of living, business-based tax benefits, income growth, and projected economic growth. In the article, Forbes ranked Dallas as the top real estate market, primarily because “prices here are expected to grow the most” as a result of a 6.2% three-year population growth, 3.9% job gains last year and 9% annual home price gains. With a 25% population increase since 2000, Dallas is among the fastest-growing metro areas in the U.S. and remains the top real estate market for investors today. Cities at the top of the list all share common traits like job growth, population growth and economic expansion, but Dallas’ continued growth has been accredited to its low-cost, pro-business regulatory environment for employers, developers and real estate investors. In 2016, Dallas real estate investors earned as much as 20% in unleveraged returns for residential real estate investments, before expenses. Based on these economic factors, the single-family housing experts at the Local Market Monitor are forecasting prices to increase by 31% by 2020. This forecast confirms Forbes confidence in the Dallas housing sector as the top real estate market for 2017. Single-family home prices are up 8.9% from a year ago, reaching an all-time high of more than $233,000. And although home prices have risen for 19 consecutive quarters, single-family homes remain affordable in the DFW metro area, indicating that further price gains are justifiable. Dallas continues to have one of the fastest growing pre-owned markets in the country, with prices up 24% in some areas. Renters and buyers from other states and countries have flocked to Dallas, in part due to the absence of state property tax and personal & corporate income tax. For these reasons and more, investors are able to keep a larger slice of the pie and capitalize on reinvesting back into the economy. According to Ingo Wizner, CEO of Local Market Monitor, if you’re “planning on making an investment, either by buying a home or by buying a rental property, these are really good markets. At Derkache Investment we are heavily entrenched in the Dallas real estate market,...
Learn MoreForeign buyers boost commercial real estate investment The commercial real estate market is quickly making up ground lost in the recession. And so far higher interest rates haven’t rained on the parade of investors looking to take advantage of the market. A surge in foreign investment in this county’s property markets is also underway. “The amount of capital that is coming from foreign investors in the U.S. is going to accelerate pretty dramatically,” Mark Gibson, executive managing director of HFF LP, told real estate executives meeting in Dallas on Friday. Gibson said most of the offshore investors looking to boost their U.S. real estate holdings are coming from Canada, Europe and the Middle East. Increasingly these buyers are spreading out from the large East and West Coast markets to buy in other cities, including Houston and Dallas. Commercial property investors are focused on locations with the best long-term growth prospects, Gibson told members of the Commercial Real Estate Women Network at the Omni Dallas Hotel. “They are looking at markets with job and population growth,” he said. “And they are looking for the infrastructure that is going to support jobs and population growth.” Dallas-Fort Worth and Houston are near the top of the list of the country’s fastest employment growth markets. All of Texas’ major markets are seeing huge population increases — due in part to migration of people and business from other states. “There are more corporate headquarters moves happening in the U.S. now than we’ve seen ever,” Gibson said. “A stunning amount of corporate America is relocating out of California to other places.” Gibson said HFF — one of the country’s largest commercial real estate investment banking and property marketing firms — is forecasting about $350 billion in commercial real estate investment in the U.S. this year. That’s up about 30 percent from last year, but it’s still well below the record $570 billion in 2007. Gibson said many of the commercial property problems created by the recession have been solved. “Distressed asset problems — that’s yesterday,” he said. Most of the big bank lenders “have worked through all their [problem properties] for the most part,” Gibson said. “They are on offense instead of defense — they are deploying capital into real...
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