Friday, January 12, 2007

Homebuilders expect fewer home starts in 2007

Dallas Business Journal

Dallas-Fort Worth builders expect to cut home starts back 2% in 2007, according to a survey conducted by Residential Strategies Inc.

Builders that specialize in homes priced under $175,000 say they'll start 7% fewer homes next year; those in the $250,000+ category are planning to cut starts by 4%. Only builders in the $175,000 to $250,000 group are planning to increase production, by about 9%.

Competition, margins, buyer traffic, lot price increases and cancellations are the top builder concerns for 2007. Top reason for buyer fallouts? Many are continuing to shop after putting homes under contract, the builders say, and relocation buyers are having a more difficult time selling their existing homes in other parts of the country.

Two-thirds of the builders anticipate optioning more lots in 2007, with an average increase of 18% over 2006. However, they're quick to point out that they'll only buy and develop in the right locations, with infill sites being popular.

On the good news side, the Dallas-Fort Worth market is seeing more relocation buyers -- up by 25% in 2006 over 2005.

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Friday, November 03, 2006


Are you aware of ? It's a nifty site that lets you search blogs, and see who's linked to your blog(s).
Check out our profile at:
Technorati Profile

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Other sites

O.k., I know this makes for a boring post, but I'd like to have at least some links to my blog on, and you may be interested in visiting my other blogs and websites, so here they are: : This is the main website for Brian Marsh & Associates of Virginia Cook. Here, you can search all homes for sale in North Texas, learn about the home buying and selling process, see our 20 Point Aggressive Home Marketing Plan that helps us to sell homes in just 30 days, and find out why we call our site

6Below is my personal blog regarding : Subsurface thoughts and ideas on Business Effeciency
If you're into business, you'll probably find it interesting, if you're not, you won't. is like this site, but about Frisco Real Estate. If you're considering McKinney, you should consider Frisco, and vice versa.

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Thursday, November 02, 2006

2,100-acre project headed to Prosper Plano becoming an urban area?....more building in Prosper

Developer plans thousands of homes, commercial space
11:24 AM CST on Thursday, November 2, 2006
By STEVE BROWN / The Dallas Morning News

Forest City Enterprises – the real estate developer redoing downtown Dallas' historic Mercantile Bank Building – plans to build a 2,100-acre community in the town of Prosper.

The development on U.S. Highway 380 at Fields Road north of Frisco will include thousands of homes plus commercial space.

Cleveland-based Forest City is developing the project in partnership with the Mahard family, which has been a major landowner in the area for decades.


"We do regional master planned community development around the country, and we are very excited about the opportunity here," said Dean Wingert, Forest City's project developer.

"We plan a mixed-use development with a variety of residential types and amenities. There will be commercial development opportunities as well," he said.

Mr. Wingert said construction on utilities and streets on the property won't start sooner than late next year.

"We would like to move forward as quickly as possible," he said. "We have a great deal of entitlement work to do with the local community.

"There is a tremendous amount of design work to go through, too."

Leaders of the one-time farming town of almost 6,000 say they are glad to get Forest City as a builder.

"To have somebody of the nature of Forest City is huge," said Douglas C. Mousel, town administrator.

"It's always been my hope that we would see a single entity come in and develop a master planned community on that property, rather than a bunch of smaller developments."

The Mahard family has used the land as part of its Prosper egg farm operations and for other agricultural uses. Mahard Egg Farm is one of the country's largest egg producers.

Prosper's population increased by almost 30 percent last year, making it the fastest-growing community in North Texas, according to town officials. The town had 500 residents when it incorporated in 1914.

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Tuesday, October 10, 2006

Middle East Buying Dallas Real Estate

Is Dallas real estate a good place to invest your oil dollars? Well the Middle East seems to think so:

According to the latest Global Real Estate Capital report, "Record Volumes, Record Globalisation" by global real estate services and money management firm, Jones Lang LaSalle, almost $6 billion was invested outside the Middle Eastern region in the first half of 2006, with $4 billion flowing into the US and $2 billion into Europe, principally to the UK.
Office investments dominated while large investments were also made in hotel and retail sectors. Almost half of the total investments in the US were in New York City. This includes the purchase of 280 Park Avenue by Istithmar, the investment arm of Dubai Holding for $1.2 billion. Middle East investors also made significant investments in Boston, Houston and Dallas.
-Khaleej Times Online

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Wednesday, September 20, 2006

Strong development activity continues in the cities
Dallas Business Journal - December 16, 2005
by Lisa Tanner
Staff Writer

A surge of corporate expansions and relocations has buoyed Collin County, even during the economic downturn. And retail openings continue to follow the ever-increasing numbers of rooftops going up countywide.

The county has caught, and kept, the attention of companies aiming to grow their businesses, which are drawn by a strong work force, improving transportation system and other amenities.
That business expansion, in turn, helps the cities grow beyond bedroom communities to boast a more diversified tax base.

And leaders are optimistic that, as they close a strong year, there's an equally robust one ahead for 2006.

Recent activity in some of the major Collin County cities include: Allen
Brisk leasing for the first phase of BSM Financial Center, which is going up on the southeast corner of Ridgemont Drive and U.S. 75, has prompted Cornerstone Development to plan a second office building on an adjacent 5-acre tract.

The Allen Economic Development Corp. owned the land purchased for the project, which includes a 50,000-square-foot first phase and a 50,000-square-foot second phase.
Also this year, Jack Henry & Associates Inc. expanded and purchased an adjacent building in Allen's Enterprise Business Park. The company came to Allen with the 1998 acquisition of Peerless Group and now the rapidly growing company employs almost 300 in the city.
Applied Signal Technology Inc. also moved from temporary offices to 30,000 square feet on Century Parkway where the electronic systems division is now housed. And Advanced Optical Components has leased 162,200 square feet in Millennium Technology Park to house about 150 employees.

Although these projects and many others represent a broad slice of business types and industry segments, Allen is short on mid-rise Class A office space, said Charisse Bodisch, executive director of the Allen Economic Development Corp.
"Our office vacancy rate is so low," Bodisch said, adding that other needs include small office/tech space and specialized medical space to complement the expanding Presbyterian Hospital of Allen. Frisco

There's no arguing with Frisco's success in attracting retail, from the busy Stonebriar Centre mall to the millions of square feet of stores that surround it.
Swedish home furnishings giant IKEA opened its 310,0000-square-foot store in March, and other large retail projects are planned.

But other 2005 additions include the 320-room Embassy Suites Hotel and nearby Pizza Hut Park, which in November hosted the championship game of Major League Soccer.

Most recently, wireless provider T-Mobile USA Inc. announced plans to bring more than 850 new jobs to Frisco, on its way to a work force of 1,200 at its new technology campus in the Duke Bridges office park on Warren Parkway. The 230,000-square-foot network operations center and related operations are expected to be open by summer 2006.

That will make T-Mobile the largest private employer in Frisco, according to Jim Gandy, president of the Frisco Economic Development Corp., a player in the project along with the city, the state of Texas, Duke Realty Corp. and The Staubach Co. McKinney

In McKinney, several large speculative office buildings are under construction, but that's just one active sector out of many, said David Pitstick, president and CEO of the McKinney Economic Development Corp.

Thanks to a slew of new superstores and other retailers, retail sales tax collections were up 33% for the city's fiscal year that ended Oct. 31, 2005.

And McKinney's Collin County Regional Airport has been tapped as the $4 million DFW JetPort, which will include an office, aircraft hangar and ramp space.
At the same time, longtime McKinney manufacturer Encore Wire is expanding its 1 million-square-foot McKinney facility to make room for a new product line. And McKinney's largest employer, Raytheon, plans to add about 200 more positions to its 2,000-strong work force as it transfers its electro-optical facility from California to McKinney.

Construction will begin in 2006 on a $200 million project called Gateway that will include a 250-room Courtyard by Marriott hotel, convention center, retail and office space. Plano
Already the county's biggest employment center, Plano expects to add another 1,500 jobs with the purchase of a Coit Road office campus by Countrywide Financial Corp.
The company's purchase of the three-building complex, which previously housed Alcatel operations, also helped improve the city's commercial office vacancy rates.
The city also retained the headquarters of Rent-A-Center as the company plans a move from rented space to a new campus in Legacy business park.

The project is also important because Parkwood Boulevard will be extended to the campus, which opens up additional development sites, said Sally Bane, executive director of the Plano Economic Development Board.

Also this year, the North Texas Tollway Authority bought a two-building office complex to expand its operations, and Ericsson announced that it would open a new research center at its North American headquarters in Plano.

Consumer lender Capital One Financial Corp. also plans to move about 200 jobs from San Diego to Plano as it relocated some of its auto financing operations.

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