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What's Driving The Dallas Fort Worth
Real Estate Boom?
John Schepps talks with Moore Matthews at Keller Williams Commercial about what’s driving the Texas Real Estate Boom.
Recent corporate relocation like Facebook, Toyota (4,000 new jobs), State Farm (800 jobs), etc. Dallas-based developer KDC is building many of the largest new North Texas corporate campuses, including Toyota’s 2 million-square-foot North American headquarters in Plano, State Farm’s 2 million-square-foot regional operations center in Richardson and Liberty Mutual’s 1 million-square-foot office in Plano just to mention the most well-known. The top 25 relocating companies had a total sum of 15, 632 jobs and 6,023,421 square feet associated with their transitions within the market, and even more companies are slated to move in this year and next. More than 8 million square feet of office buildings — the equivalent of a half dozen large downtown skyscrapers — are being built in the Dallas-Fort Worth area!
The demand for investment properties has increased dramatically. In office, we are seeing current cap rate valuations for quality properties in the sub 7% range for the first time in recent history. For quality Retail locations in places like Southlake, Roanoke, Frisco and McKinney, we are seeing valuations in the mid 6% range and psf valuations of upwards of $500! N Texas continues to be where investors want to put their money. DFW was ranked the 9th in the world from a leading publication as a place to invest!
Yet, demand still persists due to the growth and economic stability in our part of the world. Another factor has been the extreme volatility in the stock markets and the continued low interest rates – our investors are saying, “I’d rather buy a $3mm property and make a solid 6.5% than risk my money to the whims of the stock market that is whip-sawed with every new international concern!”
Retail demand from tenants is also high due to the growth in population and the projected stability of our N Texas market. Three years ago, no one would have considered paying $30sf for even the best space unless it was in a major shopping center like Southlake Town Square. Today, developers are having to pay more for the land in the expanding areas like Frisco, Roanoke and Southlake but national tenants aren’t batting an eye at paying $35 plus just to be in the game!
Alex Varela - Branch Manager - Prime Lending
Whether you're interested in laying down your roots in a new home, refinancing your current home or renovating your space, PrimeLending is here to help you find the loan options that fit your individual needs. We make the home loan experience simple by providing you with personalized service from a team of mortgage experts and ensuring that you are empowered with knowledge from a variety of resources.
Thank You For Your Business And Referrals!
Online Customer Reviews are Important!
We are in 2015 and we already have 5 referrals from clients and you know who you are and we are so thankful for your referrals and historically our business is based on referrals and after we are done working with a client we have them fill out a survey like this and we take this form or survey and of course they say nice things about us and give us a 5 stars review and we share these surveys with potential new clients and they usually hire us.
Don't Sink Money Into The Wrong Home Upgrades
If you’re considering home improvements—or even just adding a few extra touches to freshen up the place—don’t rush the process. A plan is key for any successful remodeling job.
You don’t want to pay for impractical or expensive home improvements that are out of style by the time you have to hang a “For Sale” sign in the yard.
Instead, look for smart, traditional and fashionable upgrades to provide value and anesthetic beauty for years to come.
While you’re looking for upgrades, consider these following tips for remodeling.
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