Forbes Names McKinney, TX 9th Best Place to Live in US

July 13, 2009 - Pegasus News - McKinney was recently named as one of the 25 Best Places to Move in the country by Forbes.com, coming in at #9. Out of the list of 25, six cities are in the Dallas metropolitan area, including Flower Mound at #6, Frisco at #7, McKinney at #9, Carrollton at #12, Allen at #19, and Plano at #25.

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Uniform store’s move gives boost to east side neighborhood

By Betty Dillard / Fort Worth Business Press

The continuing revitalization of Lancaster Avenue just east of downtown Fort Worth through mixed-use development projects took a leap forward with the recent opening of Got You Covered! Workwear & Uniforms.

Located at 1200 E. Lancaster Ave. in a 1920s-era building that previously housed Acme Coffee, the new store is the first retail establishment in decades in the Near East Side Urban Village, a once down-on-its-heels neighborhood that is making a commercial and residential real estate comeback.

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Historic development maintains edge in weak economy

BY Aleisha Howe / Fort Worth Business Press

Historic buildings in Fort Worth have weathered dozens of storms throughout the years and now they can add one more to the list – the current economic storm.

As nearly every sector of real estate has been hit hard by the slowed market, local developers say historic building rehab projects are holding steady thanks to their niche market and some available tax credits.

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New Dallas apartments offer a view that won’t go out of style

By STEVE BROWN / The Dallas Morning News

From the upper floors of the Heights at Park Lane apartment tower, you can see the Dallas skyline and – on a clear day – even make out downtown Fort Worth.But the best view is of the big Macy’s, Nordstrom and Dillard’s department store signs just across North Central Expressway at NorthPark Center mall.

“We are within walking distance of 3 million square feet of retail space,” said Bryant Nail, senior development officer for builder PM Realty Group. “There is really nothing like this in Dallas.”

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Going Modern in Texas

By NANCY KEATES

Dallas

Some residential suburban communities insist on tiled roofs; others dictate color palettes and lot sizes. Often, the goal is to capture the look of a time in the past, before modern living and high housing costs changed tastes and materials.

But a small number of new developments is taking the opposite tack. Here, buried amongst a middle-class community and near the Central Expressway, is a street where the construction of Colonials and Tudors is expressly forbidden. Even mid-century modern is considered passé. “Make no mistake. It’s a dictatorship and I make the rules,” project developer Diane Cheatham says half-jokingly.

The result is Urban Reserve, a 13-acre development devoted to contemporary design. Pass a neighborhood of standard issue brick tract ranches and turn onto Vanguard Way and suddenly one confronts what looks like scene from a science fiction movie.

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Survey: More buyers interested in foreclosed homes

By STEVE BROWN / The Dallas Morning News

With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.

More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.

The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.

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McKinney Foreclosure Intervention

Are you receiving the assistance for foreclosure intervention as intended through the Hope for Homeowners program? Is the agency providing “start to finish” work or is the homeowner being left to finish the job?

There have been 77,000 new foreclosures in 2009 thus far. It is projected by the Center for Responsible Lending that there will be 2.4 million foreclosures by the end of 2009 and 9 million within the next 4 years. In a Subcommittee hearing on ‘The Role of NeighborWorks and Housing Counseling Intermediaries in Preventing Foreclosures’ held May 13, 2009, Representative Emanuel Cleaver (MO) stated that this is the “most significantly depressed moment in US history - financially - since October 1929. This is the great recession.” He also pointed out that with the rising unemployment, foreclosures will continue to be a problem.

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Dallas foreclosure auction buyers finding bargains

By STEVE BROWN / The Dallas Morning News

Buyers of foreclosed properties are getting big bargains, according to a new report.

Properties bought at foreclosure auctions in North and Central Texas sold for an average of 64 cents on the dollar, according to a new report by Addison-based Foreclosure Listing Service.

Still, not many consumers are buying those properties on the courthouse steps. Most are third-party buyers or lenders.

In Dallas County this month, only 36 of the more than 700 properties sold at foreclosure auction went to outside buyers. In Tarrant County, it was 29 out of 521.

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What’s on Dallas real estate investors’ minds? Lots!

April 17, 2009

By STEVE BROWN / The Dallas Morning News

The biggest homebuilding slowdown on record has left the Dallas-Fort Worth area with lots of empty lots.

How many? Enough to last more than five years, according to the latest estimates.

“Home starts have declined almost 67 percent while the lot supply has fallen only 2 percent,” said local housing analyst Ted Wilson.

For investors, those unwanted properties offer the potential for profit.

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Survey shows Dallas-area home prices gained nearly 2%

By STEVE BROWN / The Dallas Morning News
Most Texas home markets continued to eke out tiny increases in home prices in early 2009, according to a new report by First American CoreLogic.

Texas home prices were up by just less than 2 percent in the California-based housing analystÂ’s latest survey released Monday.

While Texas prices rose, nationwide home prices in January fell by 11.6 percent compared to a year ago to the lowest level in almost five years.

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