realtor – Page 12 – John Angell

Vague Specifics – August 2020

July was an amazing month for real estate, August is looking to be even better. We’ve about made-up in sales volume for the COVID-dip, and every indicator says August is going to be a banner month. Unless the election has more of an effect on the market compared to other election years (and the effect is noticeable), 2020 will actually have a higher sales volume than 2019. Despite millions of people out of work, low interest rates and mass migration to DFW have helped us beat the odds.

While it’s a hot market, it’s possibly the most emotional real estate market in history. It’s absolutely maddening. I don’t blame people… between COVID, the heat, low inventory and the politically charged climate of an election year, it’s no wonder everyone is on edge. In previous years I wouldn’t have put much credence in back-up offers, but we’ve seen many contracts fall through in 2020 and many of them are due to buyers and sellers having personal issues with one another. We’re earning our money as Realtors, and in all honesty, this is exactly what the market needs to thin the herd of flippant agents.

I think I’ve mentioned before that I’ve picked up disc golf again after a 20-year hiatus (thanks to my great friend, Chad Lasseter, for helping me rediscover it). Frankly, it’s been a Godsend. It’s a great excuse to get outside and soak up some sun, allows you to be as serious/casual as you like, and is both less expensive and less physically strenuous on the body as regular golf. I never realized just how indoors-oriented I’d become until I started spending several hours outside at a time, and it’s really nice to actually be adapted to the summer heat. Don’t get me wrong, a 107 degree heat index is a sweaty experience, it’s nowhere nearly as oppressive as it has been in previous years. For anyone interested, there are dozens of courses around the Metroplex, and it’s just a fun, laid-back time. Anyone feel like throwing the disc some weekend, just let me know!

Architectural Corner – Oriental

As a nation of settlers, our immigrants have bought with the the influences of their homelands, and those from the Orient are no different.

Asian architecture – and there are many variations based on region/country – is typically wood-framed, characterized by graceful and distinctively shaped, multi-level roofs that curve upwards at the corners. Entryways almost always face south. Structures are symmetrical in layout, they may be round, square, even octagonal in shape.

Often meticulously decorated with culturally significant carvings, of animals and mythological figures, they symbolize more than just a dwelling, but a tribute to history. Red roof channel fortune, green harmony, yellow royalty. They are often surrounded by graceful gardens.

Vague Specifics – July 2020

What a wacky year it’s been (insert your favorite expletive for “wacky” if you like). Despite a non-existent April-May, aggregate sales in 2020 trails 2019 by only 2% for single-family homes, and 10% for condos and townhomes. If you read this newsletter, and I’m sure it’s the primary focus of your life – a veritable north star the dark night of COVID – you’ll know just how terrible sales were for two of what should have been top sales months. Again, I have no idea how the year is going to turn out, there are conflicting forces at play. Working against a strong 2020 are COVID and it’s a presidential election year. Working for the market are tens of thousands of people flooding into D/FW in search of jobs, prosperity and a 110 degree heat index.

Inventory is still critically low in the DFW area. Builders around the periphery simply can’t put up enough product to keep up with demand. It’s amazing that parts of the Metroplex that were once rightfully considered the middle-of-nowhere are now bustling population microcosms. I mean, there isn’t a tree over 7′ tall in these areas, but by the year 2070, they will be MAJESTIC.

I try to keep my comments as macro as possible, but for the most part, the majority of my work is in East Dallas and Lake Highlands, both of which have been particularly resurgent in the last couple of months. Sales volume has risen 38% and 62%, respectively. What areas are suffering? Park Cities and Oak Lawn. Luxury homes over $1,000,000 – particularly $2,000,000 – are simply not selling these days. And the condos and townhomes that compose the majority of Oak Lawn are also lagging.

Vague Specifics – June 2020

It’s getting harder to predict how the year is going to turn out sales-wise. Sales for May were down a staggering (but predictable) 25% from May 2019, but pending sales going forward are up 19% from the previous year. It would appear that the market is going as the COVID-19 Lockdown is going, and now that new restrictions have been put in place, it’s causing things to slow down again. I think all-in-all we’ll still have a pretty good year, but it all depends on how much the election is going to impact sales and what the state of the virus is going to be like in the fall.

One of my chief frustrations with COVID-19 and the lockdown (besides the obvious economic crash and 100,000 death toll, of course) is that our shindigs have been put on hold. The usual John Angell Real Estate Group spring party was cancelled in April (although it would have been a push given my back surgery in February), and the July 4th party has been called off as well. I hate the idea of it, it could have been done outside, but the risk is just too high and the optics would have been foolish.

I’m glad to get back to the office, even with “social distancing” rules. We all have an inner introvert who loves staying at home, occasionally Zoom chatting (although I imagine only about half the people I see on Zoom are wearing pants), and saving money by not eating lunch out. But I think even the most introverted of us was either starting to go a little crazy from a lack of human interaction or, even worse, becoming accustomed to isolation to the point of enjoying it. I had a good friend once who I lost to bonafide agoraphobia after she started working from home. Her world got smaller and smaller until she couldn’t even walk her dog in public places or go to the grocery store. We all need to be vigilant against infection, but not at the expense of our nature as social animals.

Avoiding Mosquito Bites – June 2020

“There’s nothing more dangerous than a wounded mosquito.” – Roy, Monty Python’s Flying Circus

Just like hot weather, mosquitoes are a fact of life in Dallas. They proliferate in spring moisture and, thankfully, by the end of summer are mostly gone. Until then, here are a few tips to keep the bites at bay.

1) Wear Light, Loose-Fitting Clothes – Mosquitos love warm bodies, and can sense them from a distance. Wearing light, loose-fitting clothes that stay away from the skin not only block their sight of you, but lessen the chance of their proboscis (pointy snout) from going into your skin.

2) Use Repellants – Off! and Cutter do a great job, but mosquitoes despise catnip, society garlic, and lavender as well. Keeping any of these plants in abundance around your outdoor living space will deter them.

3) Certain Foods Can Help (or Hinder!) – What we eat affects the scents that we put off that animals can detect. Any form of raw garlic and onions, apple cider vinegar, lemongrass, chili peppers, beans, lemons and tomatoes all cause your natural scent to drive them off. Also, it’s been shown that vitamin B-1 may do the job as well. Things to avoid? Alcohol, salty or sugary foods all make you smell more delicious to mosquitos.

4) Eliminate Standing Water – Mosquito larvae require stagnant water to grow, and a young mosquito is a voracious mosquito. Dump any vessel with standing water in it you can find, whether it be a wheelbarrow, flower pot, whatever.

5) Don’t Breathe – Mosquitos are able to see carbon dioxide as it is exhaled by mammals, and are naturally attracted to it. Next time you see mosquitos buzzing on the other side of a screen door, exhale through the screen and watch them go crazy. Obviously you can’t opt to not breathe, but exhaling as infrequently as possible when in areas rife with mosquitos.

Architectural Corner – The Shotgun Home – June 2020

(Definitely one of my favorite names for a housing style.)

Shotgun houses were a product of the

post-Civil War era, and were designed to fit as many homes into a city block as possible No more than 12’ wide, they were most popular in the Southern US, particularly New Orleans, but can be found as far as Chicago, Florida, Key West and here in Dallas.

Typically configured with no hallway, living room in the front and kitchen in the back, these homes were all about space economy. Rooms are surprisingly spacious (unhindered by parallel rooms) and high ceilings for ventilation. Some are two-storied, especially in New Orleans (see embarrassing Mardi Gras pictures), and typically elevated 3’ above ground in case of flooding.

Vague Specifics – May 2020

I’m not super math-oriented by nature, but I really lean on MLS statistics. April’s report is going to be very telling about how COVID-19 affected the real estate market. I have to say it wasn’t as bad as I thought in some ways, and worse in others, but from a homeowner’s standpoint there’s definitely a silver lining. Sales from April 2019 for single family homes have diminished 16% and 34% for condos and townhomes. What that tells me is condo and townhome buyers are considerably more vulnerable to the shutdown than single-family buyers, and there may be more whimsical buyers that don’t necessarily have to buy.

“But John, you roguishly handsome, yet sophisticated man-about-town”, I hear you ask, “is this this the beginning of a market correction?”. Unfortunately for the average buyer, it is probably not. While sales are down considerably, listing inventory is down even more. The Wall Street Journal even wrote an article on the diminished supply keeping prices moving upward, albeit at a slower pace. Where we may see a correction is in the mid-level new construction around the periphery of the Metroplex, where builders are anxious to finish out inventory. But inside the loop I just don’t see prices below $1 million being a thing. Make no mistake, it is a buyer’s market over $2 million, and far more friendly for them from $1-2 million, but the average homebuyer isn’t going to get to enjoy much more than normal besides record low interest rates.

I feel like a broken record saying this, but I do sincerely mean it, please feel free to reach out to me with any questions. This has been a black swan event, and I can’t predict the future (yet), but I’m doing my best to keep my finger on the pulse of all local markets. I’m just glad there’s a light at the end of the tunnel, and businesses are starting to open back up.

Vague Specifics – April 2020

May this newsletter find you well.

It’s funny that I almost alway get asked, “How’s the real estate market?” when I’m having a casual conversation with people. In the last month, I can tell they’re paying a little more attention to my answer than normal. Homes are still selling, but obviously not at the breakneck pace we were expecting this spring. As I said last month, Realtors are considered essential services along with plumbers, inspectors, appraisers, and other real estate professionals. We are resided to wear masks while we show, and to offer masks to our clients. Also, we’re not allowed to show open houses, but virtual tours and matterport technology will be taking their place to what extent they can.

Looking at page 2 statistics, the March market was unaffected by the shutdown because closings that happened in March went already under contract before a lot of people were taking Covid-19 seriously. Pending sales for single-family homes were only down 10% from March 2019, but pending condo/townhome sales are down 32%. From a Realtor’s perspective, there are going to be fewer opportunities moving forward, but people who are in the market right now are serious buyers and sellers. I completely understand why many are delaying their move. There are a lot of buyers out there who have been furlowed, seen their wages reduced or just don’t feel comfortable about their finances. Conversely, there are a lot of seller who don’t want strangers in their properties, especially if the sellers have at-risk loved ones.

I have to say I’m curious about what this is going to do to sales over the next 12 months. It looks like the lockdown is going to continue into May, which is disturbing from an economic standpoint. We obviously have to “flatten the curve”, but we also have to consider more than half of our population lives paycheck-to-paycheck. And they’re running out of money.

Architectural Corner – Contemporary/Modern

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…

Architectural Corner – The Dingbat

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.