(Note: this is the 5th time I’ve revised this in the last 2 weeks. Our situation continues to change…) Last fall, we were given a 50% chance of seeing a short, 1-2 quarter period of economic contraction (consecutive quarters fitting the qualifications of a recession). Economists who suggested this didn’t know what would cause it, they just knew we were way overdue for some national/global event that would ultimately lead to people not engaging in normal commerce. I used to tell prospects that if the Dallas real estate market “adjusted”, then we’d have a lot more to worry about than the Dallas real estate market. I hate being right sometimes.
The next couple of months are going to be rough for real estate statistics. As of March 31st, real estate agents are not on the list of essential services, meaning we’re not supposed to show houses. There’s a good chance that will be lifted, because despite the necessity to quarantine, it turns out people still need to find somewhere to live, especially if their rent is expiring. All other real estate services (title companies, inspectors, appraisers, contractors) are allowed to function under social distancing guidelines.
The last 5 months were pretty terrific for the market, but that will be coming to an end soon. Look for March and April to be as slow as we’ve ever seen. In fact, I’m going to be very reluctant to ever look at NTREIS statistics for this time. People are still buying and selling, there’s no doubt about that, and virtual tours are going really rising to prominence all-of-a-sudden.
America’s financial markets are still very solid, but the longer we go on lock down, the more that’s going to be curbed. It’s a black swan event we’re experiencing, and I firmly believe we’ll recover from this far faster than the Great Recession, but the longer we stay shut down, the weaker the recovery, so let’s hope we get more solid data and are able to move from a China-style lockdown to a Japan-style social distancing and quarantining.
We’re going to be okay, everyone. Stay safe.
According to Homeplans.com, the contemporary home “runs the gamut from mid-century modern to the latest designs representing current trends towards sleek, contemporary design. Contemporary-Modern design is characterized by clean, simple lines, a minimum of decoration, lots of glass, and flat or shed rooflines. Many feature unusual open floor plans and Indoor/outdoor living spaces.”
The name “Contemporary” may be a little shortsighted considering it will invariably go out of style someday, yet people will still be obligated to call it “contemporary”, but I digress.
Contemporary-modern homes feature my most hated real estate buzzword, namely “open concept floor plan”. From DIY to Discovery Channel, it’s been driven into the ground. But people want it now, even though they’re not really sure what it means…
The next few months are going to require a lot of adjustment for most of us, and it’s important to adapt as quickly and efficiently as possible to this temporary new norm. Many of us have never experienced both the advantages and challenges of working from home. You have no commute (close your eyes and picture no cars, traffic jams or red lights… ), but there are a few things to consider to be as effective as possible.
1) Have a Workspace – Having a dedicated space is critical, both for organization and mental focus. When enter your home office, your brain needs to enter and remain in work mode. Having enough light is also crucial – ideally natural light. If you need to get creative with limited space, do so, but ideally your workspace must accommodate everything you need for the day. Plants can help with relaxation, and consider adding some color. Do what you can to personalize your space but don’t sacrifice functionality for form, and do your best to keep it clean and organized.
2) Overstock – There’s nothing more annoying than getting in a groove and having to run to Office Depot. It may hinder the aesthetics of your home office, but productivity is more important.
3) Be Comfortable – An ergonomic chair, desk/table of appropriate height, space to write/type/take notes, your monitor well-illuminated and directly facing you. We’ve spent decades perfecting comfort at your work desk, let that carry over.
4) Minimal Distractions – Can’t stress this enough. It takes 23 minutes to get back on-track after being distracted from your work. Just like multi-tasking isn’t really a effective strategy, don’t let your daily chores such as laundry affect your getting down to work.
5) Keep Time – Maintain your normal business hours, your internal clock will thank you for it. Also, give yourself time for normal breaks and take whatever time you’re used to taking for lunch. The goal to adapt to as quickly as possible, both to your new home office space AND back to your normal office when life gets back to normal.
Still can’t believe this is actually the name of a housing style…
The Dingbat is a boxy, 2 or 3 story apartment/condo, consisting of relatively few units per parcel, with the living areas overhanging street-front parking. They came into prominence in the 1950’s and 1960’s, primarily in the American sunbelt.
The word itself is a bit disparaging, but dingbat refers to the star-shaped decorations (similarto typographic dingbats) that are often found on their stucco facades. Although they’re a very efficient use of limited lot sizes, they are often considered eyesores and are often the target of demolition efforts.
I’ve seen quite a few of these buildings around Dallas. There are quite a few in Oak Lawn, and one in particular on Oram in East Dallas, although I know they’re not confined to those two areas.
Single-family sales in January 2019 were a full 21% higher than they were in December 2018. I could have told you the market was MUCH more fluid than it was earlier in the year or in 2018, but I couldn’t have guessed that much. Condo sales were only slightly up, but it was a fantastic month. The momentum is carrying into 2020.
Want to know one thing that’s becoming a running joke with Realtors these days? The sense of entitlement with cash buyers. Yes, cash is the preferred method of payment, and a cash offer will almost always tip an offer in a buyer’s favor if the price is close, but my colleagues and I are routinely seeing offers 80-90% the price of other offers simply be
As of writing this, I’m now 7 days post surgery, and it’s been quite an experience. It’s hard to fathom: a week ago a doctor made a 3” incision in my abdomen (thank goodness beneath my bikini line), a second doctor moved my internal organs aside, my L5-S1 disc was pulled out, and a weird hockey puck looking thing was bolted into the front of my spine. As if that wasn’t enough, they flipped me over on my stomach, made 2 more incisions on either side of my spine, and installed rods and screws to fortify my posterior spine. I was out of surgery by 11am, I was walking (slowly, with a walker) by 4pm. In all honestly, I was terrified before the surgery. In hindsight, there was nothing to worry about. I just thank God for two fine doctors, a fantastic nurse team at the Carrell Clinic, and the most innovative, advanced healthcare system in the world. A couple of days ago the strength I’d recently lost in my right leg started to come back, hopefully in the next 6-12 months the strength I’ve been missing for the better part of decade in the same leg at least partially recovers. AND I’M NOW 3/4” TALLER!!
Real estate is about you. Your dreams, your needs, your aspirations. As your Realtor, it’s my business to always keep your needs as my top priority, and whether you’re looking to buy or sell, you will always be my focus.
Not all agents are created equal. I invite you to interview as many agents as you like, but I advise you to go with the person with whom you feel the most comfortable – the person who will keep your needs paramount.
I began helping people buy and sell homes in 2003, and I’ve been blessed with fantastic clients who have given me great referrals. I specialize primarily in East Dallas and Uptown, but I have the skill-set to help you anywhere in the DFW Metroplex.
I look forward to earning your business.