I take pride in being on time to an inspection. It is amazing how many times a homeowner is surprised when I arrive at the appointed time. I believe that being courteous, respectful and on time is the least I can do, but it also makes a good first impression on the borrower and positively influences their view of the industry as a whole.
The Dallas-Fort Worth Metropolitan Area has seen tremendous growth ever since the 1980s. But in recent years, the growth has been unprecedented. There have been a number of large corporations that have moved their headquarters to the area such as Toyota and State Farm, resulting in a large influx of residents from other states. Many transplants have moved from areas that have had historically higher home prices and have a lot of equity. The high demand and low interest rates have put upward pressure on prices. Home prices in the area have increased at never-before-seen rates. Many local municipalities are having trouble building infrastructure to keep pace with the growth.
Sapphire Bay is a new $1 billion mixed use development coming to Rowlett, TX. It is being built on a peninsula on Lake Ray Hubbard. The development consists of 117 acres, with 1.7 million mixed use commercial square feet, 1,100 hotel rooms and 1,500 residential units. It will also include restaurants, retail establishments and entertainment. It is conveniently located just 17 miles east of downtown Dallas near the intersection of Interstate 30 and the President George Bush Turnpike.
The median home price in the DFW Metro Area is approximately $350k and it has increased approximately 18% year over year. As of January 2022, there were 7,143 single family sales in North Texas, a 4% increase from the same time last year. There were also 7,965 new listings – an 11% decline from last year. The average Days On Market (DOM) in North Texas was 32 for January 2022 – a 24% decline from January 2021 when the average DOM was 42.