Daily, as we drive through the subdivisions and variety of smaller communities, we notice important details that will help you to decide which neighborhood surrounding Grapevine Lake is best suited for you and your family.  We can highlight facts for important considerations like amenities, appearance, crime rate, environment, nuisances, property values, schools, transportation, and utilities.  Additional information can be gleaned by talking to neighbors, local media, police, and the school staff.

As your property search narrows, if you revisit your top picks at different times of the day and night, you will get a better idea of everyday life in the neighborhood.

Amenities:  Life is much easier when handy locations like grocery stores, parks, recreational facilities, a post office, dry cleaner, and doctor are close to home.

Appearance:  Look around the entire neighborhood for signs of neglect like overgrown landscape, trash, junked appliances, litter, and rundown homes.  No matter how nice a home looks, if it is in the middle of other properties that are not kept up, your property value will suffer.

Crime rate:  Be sure that your home is in a safe neighborhood.  Ask the police about burglaries and other crimes in the area.

Environment:  Find out about the quality of the air, water, soil, and other environmental concerns such as cell-phone towers.

Nuisances:  Listen for traffic noise, barking dogs, airplanes overhead, and other nuisances during various times of the day and night.

Property values:  We can use our real estate resources to research selling prices of homes over the past several years and determine future trends.

Schools:  Talk to neighbors with children and study the data from school assessments in the area.

Transportation:  Make sure that public transportation and major highways are convenient to access your employment.

Utilities:  Find out the utility costs—water, electric, cable TV, phone, gas— before you decide to purchase.

Contact Dave Warden at (817) 706-3291 or email dave@davewarden.net for the best neighborhood information in the area.

Along with some resort areas in the nation, residents of homes in Southlake, Keller, Grapevine, Texas and in Tarrant County and Denton County real estate continue to enjoy a diverse and thriving economy.  Thankfully, there is an underlying stability of home prices and the real-estate market in this region, reflecting a great quality-of-life that has been noticed with honors like “Best Place to Live” and “Best Cost of Living.” 

However, stocks are a different ball game.  So many variables are driving stock prices that it is worth pondering some of them to keep our perspective.  Here are some basic facts to sharpen our saws.

• Home-building stocks are leading the pack in 2008 with a gain of 24.6 percent in Standard & Poor’s home-building index, making it the top-performing industry.  Next, by the way, are casinos and gambling, oil exploration, merchandise, and household appliances.

• At the same time, the government reported sales of new single-family homes have fallen to a 13-year low.

• One prominent home builder, Toll Brothers, reported a quarterly loss of $96 million but their shares rose 71 cents each. 

• The iShares Dow Jones U.S. Home Construction exchange-traded fund rose 1.4 percent.

On the side of caution and slightly pessimistic, USA Today comments that crazy figures—like the fast run-up of home-building stocks from 2000 to 2005—parallel the rise in dot-com stocks from 1995 to 2000.  As with any stock that loses value, the lower prices of the stock may actually encourage the optimist to buy more, driving up the price.  For example, one building-company executive bought 300,000 shares of his company stock at $5 each.  Others followed suite and that company’s once-$5 stock costs $10 today.

Homes are not going out of style.  Everyone needs a home and, in one sense, homes are necessities.  Regardless of the fluctuating stock market, common sense says that the growing population in the United States, and especially in the great State of Texas, will eventually fill up what appears to be a glut of houses on the market and then some.  The question is how fast will that happen and how fast will builders need to raise more roofs?  Probably not in an instant during 2008 but we are hopeful that our territory will continue to appreciate far ahead of the crowd.  

We’re putting our cash directly into the real estate itself.

Trophy Club’s “village concept” creates new residential villages in harmony with the attributes of the land.  The villages, part of a 2,400-acre Trophy Club master plan, are friendly oases in the Dallas/Fort Worth Metroplex.  Six villages feature new homes in Trophy Club with prices ranging from a modest $200,000 to $800,000. Sporting an existing population of 7,600, the community anticipates welcoming 200 additional households each year. 

The town is revitalizing a long-term master plan and vision during the current cycle.  Part of bringing the vision into reality has meant pouring millions of dollars into enhancements.  Residents enjoy a new country club, golf course, and recreation amenities with several exciting facilities in the pipeline.  How about a swim and tennis center?  Or, maybe your family loves horses and will make great use of the equestrian center.  Everyone will be out in the fresh air along the extensive greenbelts and playgrounds conveniently located throughout the town.

The Northwest Independent School district serves the families along with the help of an active Parent-Teacher Association and volunteers.  Lakeview Elementary recently received an “exemplary” rating from the Texas Education Agency and all of the schools are actively preparing students for life in the 21st century.

Located on the southern edge of Denton County, just a couple of miles from Interstate 35, the town is easily accessible to a large variety of employment options and the DFW International Airport.  Residents find here a diverse and thriving business, commercial, and service sector—with all of the necessities and amenities in the Metroplex close at hand.  The Texas Motor Speedway is located across I-35 and professional sports arenas dot the region.  Cultural activities including symphony, theater, art galleries and museums offer a variety of performances and displays all year round, adding to the abundant community festivals and activities going on in the smaller neighboring towns.

Contact Dave Warden at dave@davewarden.net or call (817) 706-3291 for excellent information about this area.

The average cost for a new home in Lewisville is still an affordable $226,000, however, in this area just northeast of more expensive Flower Mound homes and across Grapevine Lake from our real estate office in Southlake.

Once a vacation destination for professionals from the big cities, Lewisville real estate is best known for its proximity to the 23,000-acre lake.  Lake Lewisville brings over 6 million visitors a year out on the reservoir to sail, ski, and fish as well as to enjoy lakeside attractions at the Eagle Point entertainment complex during the summer months.  The lake’s three marinas port some of the region’s largest yachts, both motored and under sail, that set out to explore the 103 miles of shoreline.  An active fleet of catamarans—some driven by the nation’s hottest racers—at times beach at Hobie Point.  And then there are the sailboarders who congregate at Sailboard Point in Lake Lewisville Park.

Numerous boat ramps, a swimming beach and fishing barge make it easy for families to cool off in the summer at a time when life revolves around activities at the lake.  On dry land, the plentiful nature areas, picnic facilities, overnight campsites buzz with recreational enthusiasts.

Performances by the Lake Lewisville Symphony, the Lake Cities Ballet, the Lake Cities Community Chorus, the Visual Arts League, and the Greater Lewisville Community Theatre bring distinctive cultural options to the visitors and residents as well.  In fact, the facilities available for travelers and tourists are impressive.  There are also 1,200 hotel rooms, excellent restaurants, and night life activities.

With a look into the future, homes in this area will continue to appreciate along with the amenities. 

For information about homes near the lakes in this area, contact Dave Warden at (817) 706-3291.

As of June 2007, the 29-county North Texas real estate region reported that sales have fallen again here.  Only 7,254 total homes have sold, down 6.5 percent from a year ago.  Beyond Southlake real estate, Colleyville real estate, Grapevine real estate and on into Tarrant County and Denton County real estate, the numbers are only slightly better than the entire North Texas real estate region. 

However, North Texas real estate is still faring better than some other parts of the nation.  For example, sales in the Northeast fell 8.8 percent.  Overall, the National Association of Realtors reported that sales of existing homes dropped to the lowest level in four years:  2.6 percent.  Median home prices also fell 0.9 percent over the last year to $220,900.

Additionally, there are a record total of 4.2 million existing homes on the market right now with 394,000 of those entering the fray in April alone.  Analysts expect this huge overstock to drive prices down for buyers.  Sellers will have to reduce prices in order to compete.

Why are there so many homes on the market today?  The complex picture can probably be reduced to a handful of factors.  One contributing factor is the large number of people who purchased homes only to sell them and make a gain during the boom.  Another sector of homeowners have not been able to make house payments because of sub-prime and option-ARM loans; some of these are actually going to foreclosure and banks are now selling their homes.  Finally, indignant sellers who paid more during the boom are having a hard time easily cutting prices to sell their homes.  Some of these homes have kept their values but the sellers will not be making a profit when they sell.    

Experts say that the course will right itself eventually.  As lenders are forced to use more conventional mortgage products, buyers are certain to have a better experience.  It could take another year, though, before the trend is turned around. 

Cautious optimization, a conservative approach, and more time to fix up little things that sellers will not overlook may be the prescription.  As the cost-of-living is rising, maybe it is all for our own good.