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Building Blocks – Construction Costs of a $310,619 Home


Construction Costs and its affect on the Housing Recovery

home_sale

Ever wondered what the cost by category of a new home home build is?  Here’s the sales price breakdown for a home with a final sales price of $310,619 by percentage/$ cost.

CONSTRUCTION COSTS  BREAKDOWN:

    • Finished Lot Cost 21.7% or $67,551
    • Total Construction Cost 59.3% or $184,125
    • Financing Cost 2.1% or $6,669
    • Overhead and General Cost 5.2% or $16,306
    • Marketing Cost 1.5% or $4,645
    • Sales Commission 3.3% or $10,174
    • Profit 6.8% or $21,148 = $310,619/100%

TAKEAWAY: Someone building a home needs to be cognizance that there is:

“NO PERFECT HOME”

Even after you go through the build process to build that,

PERFECT… PERFECT HOME ….when you move in it still won’t be perfect.

You’ll find yourself going …. I shoulda done this …. or wish I’d done that.

And that’s perfectly normal because everyone does it!

Source: Tierra Grande, Journal of Real Estate Center at Texas A&M University

WHOA! ADM considers Dallas for global headquarters location


ADM Considers Dallas

ADM considers Dallas

If ADM does choose Dallas, as its global headquarters,  it would add to Dallas’ resume of Fortune 100 companies.

Archer-Daniels-Midland Co (NYSE: ADM) is considering Dallas for its global headquarters.

ADM executives,  the world’s largest corn processor, is looking for a location from which international travel would be easier.

ADM’s current headquarters are in Decatur, Ill.  Dallas/Fort Worth International Airport has often been cited as the reason for companies moving their headquarters to DFW.

If ADM did choose Dallas as the location of their global headquarters roughly 100 corporate employees would be relocated here and the Decatur facilities would remain its North American headquarters.

As one of a few cities ADM is considering for relocation of its global headquarters, if chosen, this would certainly add to  Dallas’ having a multitude of Fortune 100 companies with headquarters in North Texas. ADM is currently #100 on the Fortune 100 list of  Fortune 100 companies.

Slalom Consulting a national business and consulting firm lands spot #9 for Best Place to Work by DBJ


Slalom Consulting jumps from #18 to #9 best place to work in DFW

Dallas Real Estate

The Dallas Business Journal yearly publishes a list of small, medium and large business firms recognizing them as a Best Place to Work company.

The #9 slot for a medium sized company went to Slalom Consulting a national business and technology consulting firm.

Slalom ranked #18 on the 2012 list so they’ve jumped up a total of 9 slots to #9 in 2013.  This honor is bestowed on a firm via a survey of a companies employees that asks questions about the organization.

Slalom came into the Dallas market in 2007 and currently has 150 employees in their Dallas office.  Slalom is known for their innovative work in technology solutions for healthcare, financial services and retail.

Needless to say all three are good fields to be involved in but healthcare is (my opinion) is probably their toughest category with the implementation of Affordable Healthcare (aka Obamacare).

Slalom Consulting, founded in 2001 and based in Seattle has since grown to over 2,200 consultants nationwide.  The company is no slouch when it comes to being ranked in various business categories as Consulting Magazine has ranked them as a Top 10 Best Firms to Work For.

Congrats to the Dallas office of Slalom Consulting on their continued accomplishments and growth.  Look forward to seeing what slot # they’ll be in 2014 on the Dallas Business Journal  list of small, medium and large business firms recognized as a Best Place to Work company.

Hot Tuesday: Top 25 DFW areas that are selling fast!


Hotness Factor:  MLS Area Housing Activity Report

Arts District

On the 8th of every month MLS sales are publicly released.  They are reported by anybody and everybody.  And usually people that don’t buy or sell real estate. That’s not a dig, just a fact.

I don’t like these reports for 2 reasons:

  1. The reporting is too early in the month  for the previous month because all the sales data has not been entered.
  2. It gives broad activity of the DFW market not the micro market that we all live in.

One report that isn’t talked about too much is: Sales Closed by Area, Ranked by Hotness.

What is it?

The hotness ratio is pending sales as a percent of active listings.  In other words, where buyer demand is.  It’s put together by the Texas Real Estate Center, a very credible source.

MLS areas target more precise locations and sales activity for buyers & sellers to watch the market.  All properties are entered into the MLS by area, sub area etc.  There are 141 area in the MLS.  So without further ado….

Here’s the Top 25 MLS Areas of Hotness for Single Family

  1. Area 9 The Colony
  2. Area 90 Arlington (Kennedale)
  3. Area 274 GRAND PRAIRIE-NEW 3
  4. Area 88 Arlington SE
  5. Area 124 Grapevine
  6. Area 5 Mesquite
  7. Area 106 FW South (Everman/Forest Hill)
  8. Area 86 Arlington Central SE
  9. Area 23 Richardson
  10. Area 15 Dallas South Oak Cliff
  11. Area 130 FW-Summerfield/Park Glen
  12. Area 120 Bedford
  13. Area 122 Hurst
  14. Area 51 Allen ISD
  15. Area 24 Garland
  16. Area 22 Carrollton/Farmers Branch
  17. Area 53 McKinney ISD
  18. Area 89 Arlington (Mansfield)
  19. Area 121 Euless
  20. Area 50 Wylie ISD
  21. Area 271 GRAND PRAIRIE-NEW
  22. Area 87 Arlington SW
  23. Area 12 Dallas East
  24. Area 127 N Richland Hills/Richland Hills
  25. Area 20 Plano

The Takeaway:

#1 is The Colony, this is where the 121 corridor is being transformed and many businesses and people are moving.   You can also see areas surrounding The Colony are doing well too, Carrollton, Grapevine, Plano. Other Dallas areas are Richardson, Garland, Allen, McKinney, Wylie and East Dallas are all in the top 25. There are 141 areas in the MLS, if you want more information this link will give you the hotness ratio as well as sale, pending sales, days on market, active listings and months inventory of all DFW areas.

Construction Photos of Uptown and West Plano


Construction in North Texas

Shops_at_Legacy_Construction

This photo is the Shops at Legacy’s new addition – more great townhomes, shops, dining, apartments all in walking distance of each other. Located at Dallas tollway and Legacy on the east side.

uptown_2

Taken directly across from the new Ritz Carlton that opened last month in Uptown at McKinney and Pearl. Buildings are going to be office, apartments and retail shopping which is badly needed in this area. Some views at 1999 McKinney will be blocked from this.

Ritz

Side view of the Ritz, understated elegance, art deco influence, in the back is the Crescent. Ritz Rooms go for $500. a night, a steal compared to the W at $700.

Dallas Real Estate Results Year To Date


How’s the Market?

Market_Overview

Dallas Real Estate Results

You know that real estate transactions are never easy, there are many pieces to the puzzle and good title companies help the closing process go smoothly.  Here’s a recap by area for the Dallas metro.  Take a look above, this information is from the MLS  in an easy to read chart.  Overall, number of sales are down compared to last year and that is expected for the time of year.

What’s positive is the average sale prices are holding or are ahead with the exception of a few areas like Park Cities down 14% but sales were 60% above last year.  And this is expected at the higher end but buyers are finding the bottom here with a huge increase in sales activity.  So how’s the market in your area? Take a look and see…it goes to show how affordable prices are in Dallas and an up beat economic factor helps too.

The Fastest Thing the City of Dallas has ever done….


Woodall Rogers Destroyed in less then 48 hours

Woodall Rogers Blown Up in Dallas

This was taken from 1999 McKinney Lofts, started late Friday afternoon and this was Saturday evening.
Next weekend St. Paul will be demolished and they will fill in for the posh park, kinda like Central Park but a Dallas version to go along with the Arts District.  I bet some never thought this day would come but it will soon be a reality.

Preston Hollow Trees


Preston Hollow

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Something you don’t see everyday…

The “Live Oak” is one serious tree. One reason people want to move to Preston Hollow is because of the larger lots and beautiful tree lined streets. The builder of this home definitely took advantage of this awesome tree and used the branches to frame the entry, quite effectively I might add. You don’t see this everyday and it makes this a memorable property and a nice place to call home.

The Savoy-New Construction in Oak Lawn


The Savoy – Unique Custom Town homes in Oak Lawn

The_Savoy-_4_Luxury_Townhomes_-_Oak_Lawn

Are you looking for a truly unique home in Oak Lawn?
Right by Highland Park…this could be it….

“The Savoy” what a great name, sounds rather New York, doesn’t it?

The Savoy is located on Bowser street, very close to Oak Lawn and Lucky’s.  Quality construction by Sterling Designs. There are only 4 units and each home has a different finish out, no cookie cutter here.  They are around 3000 sq ft with 4 levels. The 4th level has a game room plus a large balcony with fireplace for entertaining family and friends.  They’ll be finished in February.

You can’t beat this intown location with the true quality and luxury of a custom home you deserve.

The Most Prestigious Undeveloped Lot in Highland Park


Celebrity Parcel For Sale

celebrity lot in Dallas

This is one of the last tracts of land to be undeveloped in Old Highland Park. Trees galore…

It’s part of the Lamar Hunt estate purchased in 1968. They were going to build but never did.

So here’s your chance to own 1.77 acres in Highland Park with views of Turtle Creek and all the privacy anyone could want.  The price?  For you?  Only…$15,000,000.