Saturday, September 16, 2017

The Real Estate Market Could Be Correcting


When the Real Estate market started to drop in 2007/ 2008, wholesalers for building materials on new construction, remodeling and apartments kept a good inventory of product needed to meet demand.   The country as a whole started suffering due to job losses and other natural occurrences that affected buying trends.

Some parts of the country suffered more than others causing many persons having to foreclose adding to the already dwindling new home and re-sale, moving those homeowners to apartment units.  With the market softening, suppliers for construction companies’ inventories became heavier than needed causing the producers of those products to have a backlog.  Interest rates were around 5-½% on the average at that time.   Because of the above mentioned it had a direct impact on all workers in the industry causing many layoffs.   A glut was created in the housing market with higher than normal inventory that left many sellers holding on to their homes longer than expected.  Many new home builders started setting on land they had planned on developing and monitoring their speck homes they would keep on inventory and several new home builders sold to larger builders or went out of business. 


 Over the last several years the Real Estate market has been going through an explosive growth in north Texas and other areas of the country.  The two biggest problems we have had to meet demand in homes and apartments needed for market are the supplies and the labor for construction.  This caused a demand exceeding supply scenario for about the last several years.  In a normal Real Estate downturn it takes about two years to get building materials restocked and labor back in to the market.  This last downturn was much worse than the ebbs and tides the real estate market normally see therefore taking it longer for the market to correct.


The real estate market needs 6 months of inventory to have a balanced market.  Below 6 months inventory you have a sellers market and about that 6 months it becomes a buyers market.  We have been as low as 2 months inventory in the DFW area and in some areas as few as a couple of weeks inventory.  Since late 2015 and early 2016 more building supplies have entered the market for new homebuilders and remodelers.  New homebuilders have been able to attract a larger workforce to start building more spec homes to meet demand in their communities. As more Corporate Company Headquarters moving to the area and the lack of ready available homes for new employees to move, many were told to rent for a year.   This caused a large growth in building apartment homes around the area. 

As of late summer of 2017, the apartment builders have gone from very busy to just busy with fewer building permits than earlier.  The same is happening in Atlanta, Houston, Nashville and Las Vegas.  Single-family home sales in the DFW area have seen some areas with a modest increase to a lower average sales price in about 25% of the area and some areas pricing is still increasing with nicely but not as much as seen in the past couple of years.  The inventory is still low but it is adjusting some based on pricing in the area.  We are starting to see more hesitancy with buyers terminating contracts than we have seen in the recent past.  This entire means we should have a good steady market with pricing starting to stabilize over the next year creating a healthy market while we are seeing it being corrected.




To receive specific information about your Real Estate needs Like my FB page Steve Rodgers at Ebby Halliday Realtors, email at steverodgers@ebby.com or call me at (214) 801-5280


Wednesday, August 2, 2017

Dallas Farmers Market New Development


Demolition has began earlier this week at Cadiz Street and South Harwood for a new apartment development by the Dallas Farmers Market area.  Lynd Development Partners started the tearing down of the old Mushroom Company building and a small produce warehouse that sat behind the company.  OM Produce located at 915 S. Harwood will be moving soon to another location so that warehouse will be demolished making room for around 297 apartment units.

This is the start of a major development for more living space in the Dallas Farmers Market Area taking up several blocks on S. Harwood from the 800 block to the 1000 block.  The property located at 1015 S. Harwood is a one and three quarter acre property that is scheduled to close September 5, 2017 adding to the space.   The name of the developers will be disclosed once the property is closed. It is a property that my family has owned well before the 1980's.





Saturday, June 4, 2016

SAVE YOUR BACK THIS SUMMER!

When you start mowing this Spring & Summer, there is an excellent way to save your back, time, & money.  By using proper mowing and watering methods you can do all of the above.  The first thing you need to do is mulch (mow) your yard!

There are several reasons to mulch your yard when you mow.  First of all it will save your back from having to bag, lift, and carry plastic bags filled with grass.  This in turn will save overall time spent on yard work.  Probably close to half.  By removing the grass and leaf clippings from your yard, you are taking away the bi-product that the fertilizers have produced. Therefore wasting money you spent adding them to your lawn.  The goal is simple, make your yard feed itself or close.  If you have used any of the fertilizers that I have suggested in earlier articles, they are filled with living microbes.  We are increasing their population in your soil with the natural fertilizers.  These living microbes break down any grass or leaf clippings that are left on your lawn and help feed the soil.  Therefore you do not have thatch build up. 

Weed control is generally the next item on the list.  When the soil is not healthy or there are bare spots in you lawn, weeds appear.  Three things weeds do not like is healthy soil, mowed, or competition.  Unless you have cool season grasses on your lawn this time of the year, you will either have to mow, pull, or spot spray your weeds with at least 10% Pickling Vinegar. Until the warm season grasses start growing.  Use caution when spraying with Pickling Vinegar.  It is a non selective Herbicide.  That means any grass or weeds you spray it on will kill.  Use this product, non deluded on sunny days.  The hotter the better. It does work when it is sunny and at least 75 degrees.  Add about a tablespoon of liquid soap to the vinegar and some orange oil if possible.  It will not harm your soil as it breaks down into the lawn.  Mowing your lawn regularly taking about the top 1/3 of the grass leaf will help thicken your lawn if Bermuda or St. Augustine.  If you have cool season grasses with some thin spots on your lawn, over seed to help thicken.  Cool season grasses generally do not have runners like the warm season grasses previously mentioned.  With weather still being cool mowing lower helps expose the soil to warm sunlight, germinating seeds, helps warm grasses start to grow and weakens the weeds as you cut them.   Later in the season as it starts to get warmer to hot, start raising your blade on the mower.  This will choke out weeds, thicken the grass, shading the soil keeping it cooler and help keep the moisture from evaporating.  Start mowing your Bermuda and St. Augustine early Spring at 1", letting the grass grow to about 1 1/2 inches before cutting.  As it gets hotter gradually increase the height to 2" and by September about 2 1/2 inches.  Average maintenance around 1 1/2 inches.  Keeping the 1/3 rule, cut the grass at 2".  Tall Fescue & cool season grasses maintain heights at 2 1/2 inches to 3".  During times of drought or extreme hot weather the height should be maintained from 3" to 4".  This with proper watering will keep your grass green all Summer.

Water your lawn at the rate of 1" to 2" per week.  Rain included.  A good way to measure your rate of watering is to set a cup or pan outside in your lawn when beginning to water.  Check the time when starting and leave the water on long enough to fill it one inch.  This way you will know how long the water needs to be on before you water else where.  When its cool and not raining you may water once a week at 1" or twice a week at 1/2" per time.  When hot increase it up to 2" per week.  By watering deep and irregular, you are causing the root system to go deep into the soil for water making the grass healthy and strong.  This also saves on your water bill.   Shallow watering keeps the water near the top of the soil that  will  cause a weak root system and fungal problems, especially in cool season grasses.

By maintaining your lawn from the articles written, you will have a much lower cost for yard care, a greener lawn, less labor intensive, and little to minimal pest problems.  In nature, it is survival for the fittest.  Healthy soil creates healthy strong plants.  If you notice a problem spot on the grass, shrubs, and flowers don't look quite right, the next day or two you'll see pest all over that plant or area.  This is nature's way of cleaning it up!  The plants and grass are in stress.  The liquid fertilizer formula in the past article can be mixed in the same spray container with the pest controls that follow.  Saving you time.  If there are chewing insects such as caterpillars, mix a product called BT with the liquid fertilizer, and a gallon of water.  As the pest chews on the plants, the microbes in the BT will cut and rot it's insides.  If it is a beetle or hard shelled type pest, ad 2 oz. of Orange Oil to the liquid fertilizer.  The Orange Oil acts as a solvent and melts the exoskeleton on the pest.  I would take the liquid fertilizer and add it to a bucket, mop or other and drench the stressed plant.  You'll see results the next day.  If the shrub is still looks under stress by the second day drench again.  You probably won't see any pest. These products will not harm birds. If you have problems with fire ants you can take the fertilizer mixture or 2 cups of compost tea, add 2 oz. of Orange Oil, to a gallon of water.  Put it into the bucket and drench the mound.  Another product that is the natural predator to fire ants, fleas, and grub worms is beneficial nematodes.  You can apply these to the soil with water and as directed.  They are carnivorous and work 24/7!




More Volume at the DFM


Fruit and Vegetable production Locally is increasing in volume.  Friday's, growers are now bringing their product to the Dallas Farmers Market.

The sizing of the peaches and tomatoes has increased since last week.  I'm sure the rain has a little to do with production and time of year.

If you can, you might start planning.  If you can Peaches, Cling varieties are the best. They are available now. They are an early variety.  Any vegetable you may can will be available at peak flavor and local.  Best time to purchase is when the growers are bringing their product to market with CASE volume to Sell.  Peak season!  Ask the grower when their volume will be expected with them on a product you may have interest.

Regards


Friday, May 20, 2016

Town Homes Dallas Farmers Market


You can hear the building of the Town homes from behind with patios and balconies that have views of Down Town Dallas, the Dallas Farmers Market and with in walking distance  to

#downtownfarmersmarket


The parking lot to the north looking towards down town is the parking for the Masonic Temple and serves as parking for weekend market.


Saturday, May 7, 2016

Dallas Farmers Market Produce


Far more farmers today. I'm seeing an activity coming back to the Dallas Farmers Market it has been missing in a while. Glad to see! While sitting a a table in the Shed, sharing with several persons I had a couple more than 1/2 my age sit next to me eating some Street Tacos. I asked how were the Street Tacos? The gentleman answered very good, they are Vegan.
I responded by, Do you eat potatoes?"
Laughing they said, "YES!"
I told them, "Potatoes have eyes!"
Afterwards, I directed them in the different areas that would be contained in their diet and what is currently available and which Farmer. I also let them know what product is expected to arrive over the next several weeks.
I did pick up some Knobby Onions and Tomatoes. Fun morning!  Knobby onions, very tender and nice at this stage. Tomatoes have been having good flavor. Their greenhouse season will be coming to an end with their new summer tomatoes starting in June!


                                                                        














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Dallas Farmers Market Urban Living


This is an apartment complex across a walkway from The Shed. With fresh local produce and honey, etc.  A different walkway will will take you to The  Market. Where the public has access to many restaurants and eateries.

There will be 250 apartment units with retail below.  The area is surrounded by Town homes and Condominiums.