I know, Case-Shiller says sales and housing prices are down in Dallas-Fort Worth. It was a pretty sucky report. The only places where sales are up — San Francisco, San Diego and Washington D.C., where all the government jobs are bringing in YPs by the bushels sporting $100 to $300K jobs, all seeking housing. But before you go polish off the Thanksgiving leftovers because you are so depressed, hear me out. Looking at those magical maps the Dallas Morning News produces from the MLS, we see that real estate is truly a local story right down to the block here. Full disclosure: agents tell me sales are happening because sellers are caving in on prices — we are NOT giving away homes in Dallas, but we are getting very real about pricing. Sellers finally have the message: the good old days are gonesville.
I want you to take note of Allen — north of LBJ, north of Plano, where home prices remain flat. (Flat is OK in this market.) Watters Creek, the Village at Fairview and the Village at Allen Shopping Centers continue to pull in some of the highest net worth vendors in the USA, even during this tough as nails economic climate. The Village at Fairview is one component of a joint, 3-million-square-foot, regional, mixed-use lifestyle center developed by The MGHerring Group and located in both Fairview and Allen, Texas. Anchored by Dillard’s, Macy’s and JCPenney, The Village at Fairview launched its second retail phase in 2010 with more than 40 new specialty stores and restaurants, including major tenants $20 movie tickets Gold Class Cinemas, The Container Store and a brand new Whole Foods Market®. The Village at Fairview also features “The Cortona” with more than 400 luxury multifamily residential units.
Home sales are actually up in two parts of Dallas/Fort Worth — Park Cities (47%) and Westlake (33%). Because Vaquero is hot baby, hot. Sales are also up in Oak Lawn, Grapevine, Southlake, Colleyville, and Preston Hollow. But no one beats the protective bubble of the Park Cities when it comes to retaining property values in a TERRIBLE economic climate. Why? Because you will almost always be guaranteed a great place to live, safety, services, and decent schools for your kids or the next buyer’s.
Wanna buy some blue chip real estate? Look at that map, commit to memory the places where homes are selling right now, and start shopping.