Dallas Lake Front Resort Style Homes for Under $1 Million??

Rowlett, Texas is a great place to live. It has a country vibe but is still close to the city. The location is perfect for those who want to be close to the water as most of Rowlett is surrounded by Lake Ray Hubbard. And, best of all, it is affordable. In this blog post, we will introduce you to some of the new construction developments in Rowlett. These communities are designed with socializing and community in mind. You will love the integration of the Mews Concept and all of the corresponding green spaces. There are options for everyone, from cozy cottages to luxury resort-style homes – all for under $1 million. There are even some homes in the $300K to $400K range! Keep reading to learn more about Magnolia Landing, Villas at Longbranch and Sapphire Bay.

Magnolia Landing

"Magnolia Landing introduces social, open spaces where neighbors will be drawn together for recreation, relaxation and a sense of community” (Landon Homes). This development is located 10 minutes from the lake, has tons of green space, and offers cozy cottages while still maintaining that luxurious feel.

Pricing: Homes start at $390K

Location: 3513 Petals Pl, Rowlett, TX 75089

Villas at Longbranch

Looking for affordable lakefront living? Villas at Longbranch is for you! With 5 minute access to the lake from the East, South and West, you'll be able to enjoy all the beauty and fun that comes with living on the water. Prices start in the 500k range, making it affordable for anyone who wants to enjoy lake life. Amenities include a playground, park and walking/biking trails. Surrounded by fields and greenspace and close to Rowlett Nature Preserve, this community offers all of the benefits of country lake living just outside of Dallas.

Pricing: Homes start in the $400Ks

Location: 3801 Miller Rd, Rowlett, TX 75088

Sapphire Bay

If you're looking for luxury without breaking the bank, Sapphire Bay is the development for you. This hidden gem has been in the news and under construction for years, and according to the website, it will be the "ultimate expression of live, work and play". The resort-style development will have a smaller lagoon with the ability to generate barrel roll-type waves and a larger 7-acre crystal lagoon with a large mist fountain. Images and videos will be projected onto the mist, forming a gigantic screen that people can watch on all sides of the lagoon. In addition to its serene lakeside locations and scenic walking trails, Sapphire Bay will also boast an exciting nightlife scene and a variety of shopping and dining options. Whether you're looking to take a dip in the crystal lagoon or simply enjoy a luxury lifestyle at an affordable price, Sapphire Bay has something for everyone. This development has everything you could ever want or need – and then some!

Pricing: Homes start in the $800Ks

Location: Dalrock Rd and, I-30, Rowlett, TX 75088

As you can see, there are many new construction developments underway in Rowlett TX. There is something for everyone – whether you are looking for an affordable option or something luxurious. All of these developments offer great amenities like social spaces and walking trails. And best of all, they are all under $1 million! If you are thinking about moving to Rowlett TX, now is a great time to do it! Contact us today to learn more about these developments and how you can make one your new home.

Moving to Dallas? Let’s Talk About New Construction Homes

If you’re considering relocating to Dallas, you may have noticed that the real estate market is booming. But before you jump in and start looking for a new construction home, there are a few things you should know. From land and building costs to HOA fees and property taxes, let’s look at what makes new construction homes so expensive—and why they might not be the best option for your budget.

Most buyers don't realize just how expensive it can be to build a new construction home. Between the cost of land acquisition, materials, labor, permits, inspections and more, the cost of constructing a single-family home can easily exceed $200,000. That's why most new construction homes are priced at least twice that amount when they hit the market.

New construction homes often come with small lots—or no lot at all! That means less space between you and your neighbors—not to mention fewer trees on your property that provide shade in the summer months. This can make for an uncomfortable living situation if you're used to having some extra privacy.

If you're considering purchasing a home in a planned development or neighborhood association, chances are there will be an HOA fee involved. These fees can range from hundreds to thousands of dollars per year depending on how luxurious and amenity-rich the neighborhood is. So be sure to do your research before signing any contracts!

Property taxes on new construction homes can be higher than expected due to the transition between land value and then land plus home value in the same year. Builders often only pay their share of the property taxes based on the land value which leads to an increase for future homeowners once they take possession of their home. This could add up to thousands of dollars per year that buyers weren't expecting—so make sure you investigate this issue thoroughly before signing any contracts!

While purchasing a brand-new construction home can certainly seem like an attractive option when moving to Dallas, it's important for buyers to consider all of their options carefully before making such an expensive commitment. From high land and building costs to small lots with few trees, HOA fees and unexpected property tax increases – there are many hidden costs associated with buying a brand-new home that could end up costing buyers far more than they originally planned for! Make sure you do your research so you know exactly what kind of financial commitment you'll be making before signing on the dotted line!

Breaking News: Zillow Exposed!

Now that Zillow is finally ready to come clean about the housing market, we NEED to talk about it!

Zillow's latest housing forecast is a major downgrade from their previous predictions. Last month, Zillow forecasted a 6.9% home value growth over the next 12 months. However, their latest outlook for home prices has been revised down to 2.4%. Okay so what gives?

Well this is actually their fifth downward revision since March. Up until now Zillow has really been the bull in the market, so to speak, but not so much now. Zillow's forecasts have finally come in line with other industry insiders who have been predicting a slower rate of growth for the housing market.

 Wondering what's actually happening across the board and today in the housing market? Let's take a look!

(Click to take a look at more market updates here!)

Well first of all, in order to provide more accurate predictions Zillow has revised their home value and sales forecast process. They’ve been bullish, bullish, bullish and suddenly they’re like maybe we need to rethink how we’ve been handling this data. They say the revision is due to the “quickly changing observed market conditions” and an update to the forecast methodology. Zillow's home value forecast is a combination of several factors, and one that they’ve just added in is the share of for sale listings that receive a price cut.

According to Zillow this share has seen a sharp increase in recent months as home sellers adjust their strategies amid changing market conditions. Well, for some reason Zillow believes this is relevant information for their forecast - hmm - and now they’re including it in the calculation. 

Zillow goes on to say in this article that a weaker outlook for home sales is also a factor in the company's lower forecast for home value appreciation. Zillow is now forecasting 5.3 million existing home sales in 2022, a 14.1 percent decrease from 2021. Zillow cites several reasons for the weaker outlook, including higher mortgage rates, uncertainty about the economy and inflation.

 Here’s where they’ve made a pretty big change though.

It has to do with how they calculate their statistics. Zillow used to average out three months worth of sales for their calculations. Then they would take that number and change it based on what usually happens that time of year. In other words, they kind of played with the numbers in a not so scientific way. Well now they have stopped doing this because the market is changing so quickly. The market is experiencing "unparalleled volatility" and Zillow is now using just the straight numbers month to month. This raw data tells a different story than the averages did. 

Honestly Zillow has long been known to play around with numbers and forecasts, much to the frustration of we Realtors who have to deal with the aftermath. Zestimates, in particular, are notoriously inaccurate and can often lead to misunderstandings between sellers and buyers. Zillow cannot see inside your house, so they don't know if it’s been completely renovated or if everything's original. This lack of knowledge often leads to Zillow overestimating or underestimating the value of a home.

And what does that cause? Well a lot of unnecessary frustration for buyers, sellers, Realtors - pretty much all parties involved. Zillow's market forecasts have been a lot more bullish than everyone else’s this year, but they've kinda done an about face and changed their forecast model. It will be interesting to see if this new model will be any more accurate than the last one.

 So what's happening in the housing market right now?

According to Zillow, 30 of the nation's 50 largest housing markets saw month-over-month price declines in July. That includes a 4.5% home price dip in San Jose and a 2.8% decline in Phoenix. San Francisco and Austin both saw 2.8% declines, while Sacramento came in at 2.5%. Dallas was a bit further down the list with a 1.1% drop.

 So what’s going on in Dallas?

There are a few factors at play here. First of all, we typically see a slowdown in the housing market when school starts back up. Mortgage rates have been on the rise, which can put a damper on things. And finally, some sellers are still trying to hold out for peak prices even though the market has shifted. All of these can lead to longer selling times and ultimately lower prices. In Dallas, price reductions are definitely disproportionate, with the luxury market taking the lion's share of the hit. The lower price ranges are still pretty robust!

 What do Fannie Mae and Freddie Mac think about all this?

In spite of all the talk and concern over the future of the housing market, you might find this interesting - Fannie Mae, Freddie Mac, the Mortgage Bankers Association and Core logic are all predicting a low single digit home price increase over the coming year. While the increase is minimal, it is still an increase, right? So these organizations still see home prices appreciating even if it is just a little.

Now, we all get Real estate is very localized, so what is happening in one market may not be the same as what is happening in another market. In other words, what's happening here in Dallas is not going to be the same as San Francisco or Phoenix. I’m really interested in what's happening in your market! Be sure and comment below!

 Find any of this information helpful? If it was the best thing you can do is head back to our website and check out another blog OR check out our YouTube channel at Home In Dallas Texas. 

If you’d like to connect with other buyers and sellers just like you - join us in our Facebook group! We’re over a thousand members strong now with lots of movers connecting and sharing experiences. 

Dallas Homebuilders Are Motivated to Sell - Get a Great Deal on New Construction!

If you're in the market for a new construction home in Dallas, now is a great time to buy.

Builders are struggling to sell homes due to rising interest rates, which presents a unique opportunity for buyers. In this blog post, we'll discuss why now is a great time to buy a new construction home in Dallas and how you can take advantage of the current market conditions.

As you may know, interest rates on mortgages have been on the rise lately. This has caused problems for home builders, who are struggling to sell homes that had already been under contract. Buyers are backing out of their contracts because they can't qualify for the higher interest rates and there aren't as many new buyers that do qualify. This has put some builders in a tough spot and created an opportunity for savvy buyers to get a great deal on a new construction home.

With all of the unbelievable incentives builders are offering, now is the time to buy new construction in Dallas!

Builders are offering fantastic incentives like paying buyers’ closing costs and paying down their interest rates. Some builders are offering free refinances for when interest rates go down. They will happily consider types of financing that are difficult to use in a competitive market. Buyers who have been unsuccessful in the past are not only getting their offers accepted, they’re also getting fantastic deals!

In conclusion, now is not the time to wait if you’re hoping for new construction in the DFW area

Builders are struggling to sell homes due to rising interest rates, which presents a unique opportunity for buyers. If you're interested in taking advantage of the current market conditions, call us today! We'll help you find the perfect new construction home - at a price you can afford.

The Pros and Cons of Living in Southlake, TX

It’s easy to see why so many people are drawn to the idea of living in Southlake, Texas. The city has a wealth of amenities and attractions that make it a desirable place to live. However, there are also some drawbacks to living here. In this blog, we will discuss three pros and two cons to living in Southlake.

Pros:

A+ Education

There are many reasons to consider moving to Southlake Texas, and one of the most important is pro number one, their excellent public schools. Southlake is consistently ranked as one of the best school districts in not only Texas, but the entire country. The schools are incredibly well-rounded, with every school above average or higher in terms of academics, teacher quality, and college prep. Additionally, the district is known for its strong athletics programs. In fact, Southlake’s Carroll Independent School District is considered the best school district for athletics in Tarrant County and the second best in the Dallas Fort Worth area. So if you're looking for a great education combined with opportunities to succeed in sports, Southlake is definitely a great place to consider.

Great for Families

Southlake is an excellent place to raise a family for a variety of reasons. One of the most significant reasons is the amount of community involvement and support that is available. There are always events happening that bring the community together, such as the Stars and Stripes event on Independence Day. Additionally, Southlake has a high home ownership rate, meaning that people are more likely to put down roots and become invested in their community. This creates a strong sense of fellowship and support that families can benefit from.

Centrally Located

One of the best things about Southlake is its location. It's centrally located in the Dallas-Fort Worth area, which means that it has a short commute to either city. This makes it a great place to live for those who work in either metro area. Additionally, Southlake has a small-town feel, with a slower pace of life and friendly residents, while still having all of the amenities and conveniences of a larger city. This makes it the perfect suburb for families.

Cons:

High Cost of Living

The high cost of living in Southlake can be a major deterrent for potential home buyers. Not only is the cost of living itself high, but the cost of housing is even higher. Southlake offers many wonderful housing options, but they come at a price.

Buyers who are looking for a more affordable option may want to consider some of the suburbs around Southlake. Grapevine, Coppell, Colleyville, and Trophy Club all have lower cost of living averages than Southlake. While these suburbs may not offer the same level of luxury and amenities as Southlake, they are still great places to live.

Southlake is a wonderful community with plenty to offer its residents. However, the high cost of living may be prohibitive for some people. If you are looking for a luxurious community with a high cost of living, Southlake is definitely the place for you. But if you are on a budget, there are plenty of great options available in the suburbs around Southlake.

Limited Highway Access

Southlake's highway access could be better. While 114 is a major highway, it can take a bit to get to it from the southern part of town. There is only one other road that is anything like a highway, and that's FM 1709/Southlake BLVD. It can become congested, making it take even longer to get to the highway.

In Summary,

If you're looking for a suburb that has excellent schools, is great for families, and has a central location, Southlake may be the perfect place for you. However, keep in mind that it does have a high cost of living and limited highway access. If you would like to learn more about this charming suburb or any others in the Dallas-Fort Worth area, give us a call - we would love to help!